846 W Schonerberg Loop #26 · Midway, UT 84049

$300,000

5 bd · 5.5 ba · 3,730 sqft · Timeshare · 79 Days on market

Built 2026 Excellent condition 2,178 sqft lot $50/mo HOA · 1% of rent

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Own your dream mountain home in Midway for a fraction of the cost with this luxury co-ownership opportunity--enjoy 44+ nights per year while building real equity. This professionally managed, turnkey home offers zero maintenance and effortless scheduling through the Ember app, plus optional nightly rental income when you're away. Crafted by Utah's most decorated luxury home builders, Davies Design Build, the home features five bedrooms, four with ensuite bathrooms, including a convenient main-level suite, offering an ideal layout for hosting, comfort, and versatility. Designed as the ultimate basecamp, the residence places you moments from skiing at Deer Valley Resort, boating on Deer Creek Reservoir, and exploring the trails of the Uinta Mountains. Inside, every detail is thoughtfully curated with premium finishes, including custom quartz countertops, handcrafted cabinetry, and top-of-the-line Sub-Zero and Wolf appliances. Expansive windows and soaring ceilings invite in abundant natural light while framing picturesque mountain views. Located in the gated community of Alcove, this residence presents a rare opportunity to own a thoughtfully designed mountain home where luxury, flexibility, and lifestyle converge. As a limited-time offering, initial buyers will receive a complimentary private hot tub and the first year of HOA dues covered.

Key facts

• Turnkey home
• Main-level suite
• Premium finishes

Tags

• TURNKEY HOME
• OPTIONAL NIGHTLY RENTAL INCOME
• MAIN-LEVEL SUITE
• PREMIUM FINISHES
• CUSTOM QUARTZ COUNTERTOPS
• HANDCRAFTED CABINETRY

Property features AI

Finance

• Other: Zoned for multi-family; Subdivision: ALCOVE; Property has a view (mountain)
• HOA & community: HOA: Ember; Monthly HOA fee of $50; HOA covers insurance; Community amenities: gated access, pool, spa/hot tub, pet rules with pets permitted, snow removal

Exterior

• Parking: Attached garage; Garage with 2 spaces; Total of 2 parking spaces (2 covered)
• Security: Gated community (HOA amenity)
• Utilities: Natural gas connected; Electricity connected; Public sewer connected; Culinary (public) water
• Home design: Townhouse (row-mid); New construction / To be built; Fractional ownership; Residential use; View-facing
• Construction: Clapboard/Masonite and stone exterior; Other construction materials noted; Asphalt roof; No basement listed; Above-grade finished area reported (value not shown per instructions)
• Exterior features: Mountain view; Balcony; Flat terrain

Interior

• Bedrooms: One bedroom on the main level; Primary bedroom(s) located on both 1st and 2nd floors
• Flooring: Hardwood floors; Tile floors
• Bathrooms: 3 full bathrooms; 2 three-quarter bathrooms; 1 partial/half bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Has heating and cooling
• Interior features: Separate tub and shower; Balcony (listed under exterior but accessed from interior features)

What this means for you Summary

Snapshot

• This is a 5-bed/5.5-bath timeshare listed at $300k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $300k).
• Recommended offer: $282k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.5% vs local median 2.4% in Midway — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 67/100 on livability (#124 in UT) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: amenities F, commute F, cost of living F.
• Wasatch District (town): math 45% / reading 51% proficiency, ranked #23 of 80 in UT (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Midway School (math 63% / reading 66%, grade B, #23 of 585 statewide, top 4%, 675 students, 18% FRL); Wasatch High (math 34% / reading 50%, grade F, #55 of 171 statewide, top 32%, 2,531 students, 16% FRL).
• Market conditions: 228 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 835 units permitted in Wasatch County in 2024 (22 in 5+ unit buildings).
• This rent runs 44% of the median local income ($151k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Wasatch County population projected at +87% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $282,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.87% ✓
• Cap rate: 15.49%
• Cash-on-cash: 32.83%
• DSCR: 2.46
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.0%
• Equity multiple: 2.17×
• Total profit: $97,890
• Equity at exit: $44,731

10-year hold

• IRR: 35.5%
• Equity multiple: 4.26×
• Total profit: $274,206
• Equity at exit: $25,939

Cash invested: $84,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 86 Strongly Landlord-Friendly
• State Utah: 86 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

3-day notice; preempted; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 84049

• Home prices YoY: -32.9%
• Active inventory: 228
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $5,597 medium
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• HOA: −$50
• Vacancy / Maint / Mgmt: −$1,175
• Net cashflow: $2,298

Break-even live

Break-even rent $2,688

Max offer price $300,000

Occupancy floor 54%

Sensitivity live

Price	-10% $2,506	-5% $2,402	+0% $2,298	+5% $2,195	+10% $2,091
Rent	-10% $1,856	-5% $2,077	+0% $2,298	+5% $2,520	+10% $2,741
Rate	-1.0pp $2,450	-0.5pp $2,375	base $2,298	+0.5pp $2,221	+1.0pp $2,142

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1239 Links Dr Midway, UT	4.0	3.5	3539	$7,500	$2.12	25d	1	0.67mi

HOA detail

• Monthly dues: $50 · $600/yr
• Likely covers: security

Listing history 18 events

1. 2026-06-22
   days on market $300,000 Active 79 DOM
2. 2026-06-18
   days on market $300,000 Active 76 DOM
3. 2026-06-17
   days on market $300,000 Active 75 DOM
4. 2026-06-16
   days on market $300,000 Active 74 DOM
5. 2026-06-15
   days on market $300,000 Active 73 DOM
6. 2026-06-14
   days on market $300,000 Active 71 DOM
7. 2026-06-10
   days on market $300,000 Active 68 DOM
8. 2026-06-09
   days on market $300,000 Active 67 DOM
9. 2026-06-08
   days on market $300,000 Active 66 DOM
10. 2026-06-07
    days on market $300,000 Active 65 DOM
11. 2026-06-05
    days on market $300,000 Active 62 DOM
12. 2026-06-03
    days on market $300,000 Active 61 DOM
13. 2026-06-02
    days on market $300,000 Active 60 DOM
14. 2026-06-01
    days on market $300,000 Active 59 DOM
15. 2026-05-31
    days on market $300,000 Active 58 DOM
16. 2026-05-31
    days on market $300,000 Active 57 DOM
17. 2026-04-03
    listed $300,000 Active

    Show marketing remark (1360 chars)

    Own your dream mountain home in Midway for a fraction of the cost with this luxury co-ownership opportunity--enjoy 44+ nights per year while building real equity. This professionally managed, turnkey home offers zero maintenance and effortless scheduling through the Ember app, plus optional nightly rental income when you're away. Crafted by Utah's most decorated luxury home builders, Davies Design Build, the home features five bedrooms, four with ensuite bathrooms, including a convenient main-level suite, offering an ideal layout for hosting, comfort, and versatility. Designed as the ultimate basecamp, the residence places you moments from skiing at Deer Valley Resort, boating on Deer Creek Reservoir, and exploring the trails of the Uinta Mountains. Inside, every detail is thoughtfully curated with premium finishes, including custom quartz countertops, handcrafted cabinetry, and top-of-the-line Sub-Zero and Wolf appliances. Expansive windows and soaring ceilings invite in abundant natural light while framing picturesque mountain views. Located in the gated community of Alcove, this residence presents a rare opportunity to own a thoughtfully designed mountain home where luxury, flexibility, and lifestyle converge. As a limited-time offering, initial buyers will receive a complimentary private hot tub and the first year of HOA dues covered.

18. 2026-04-03
    listed $300,000 Active 1360-char remark

    Show marketing remark (1360 chars)

    Own your dream mountain home in Midway for a fraction of the cost with this luxury co-ownership opportunity--enjoy 44+ nights per year while building real equity. This professionally managed, turnkey home offers zero maintenance and effortless scheduling through the Ember app, plus optional nightly rental income when you're away. Crafted by Utah's most decorated luxury home builders, Davies Design Build, the home features five bedrooms, four with ensuite bathrooms, including a convenient main-level suite, offering an ideal layout for hosting, comfort, and versatility. Designed as the ultimate basecamp, the residence places you moments from skiing at Deer Valley Resort, boating on Deer Creek Reservoir, and exploring the trails of the Uinta Mountains. Inside, every detail is thoughtfully curated with premium finishes, including custom quartz countertops, handcrafted cabinetry, and top-of-the-line Sub-Zero and Wolf appliances. Expansive windows and soaring ceilings invite in abundant natural light while framing picturesque mountain views. Located in the gated community of Alcove, this residence presents a rare opportunity to own a thoughtfully designed mountain home where luxury, flexibility, and lifestyle converge. As a limited-time offering, initial buyers will receive a complimentary private hot tub and the first year of HOA dues covered.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 8 d/yr ≥91°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $67,164
• − Mortgage interest: −$16,805
• − Property taxes: −$4,500
• − Insurance: −$1,500
• − Repairs & maintenance: −$5,373
• − Management: −$5,373
• − HOA: −$600
• − Depreciation: −$8,727
• Taxable income: $24,286
• Est. tax owed @ 24.0%: −$5,829
• After-tax cash flow: $21,752/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 13 photos

Excellent 95/100 None rehab

This luxury townhouse in Midway, UT, is in excellent condition with no visible repairs needed. It offers a turnkey living experience with zero maintenance and access to resort amenities, making it ideal for both resale and rental.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value
• Both Furniture — Improves the home's livability and appeal
• Both Smart home integration — Enhances convenience and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Furniture — Improves the home's livability and appeal ↑
• Both Smart home integration — Enhances convenience and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Wasatch District
• NCES district ID: 4901110
• Math proficiency: 45% ▼ -2.00%
• Reading proficiency: 51% ▼ -1.00%
• Median HH income: $67,315
• Composite: 42.77/100
• National rank: #3154
• State rank: #23 of 80 in UT

Livability — Midway

• Score: 67/100
• State rank: #124
• US rank: #10123

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing A Health & safety C User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midway, UT
• County: Wasatch County · 42,185 people
• City population: 6,833
• Metro: Heber, UT
• Population (ZIP): 6,833
• Household income: $151,343
• Rent vs Own: 17.2% rent · 82.8% own
• Severe rent burden: 11.0

Population outlook (Wasatch County) Hauer SSP2

• Today (2025): 42,214 people
• By 2030: 49,113 · +16.3%
• By 2040: 63,675 · +50.8%
• By 2050: 78,879 · +86.9%
• By 2075: 116,912 · +177.0%
• By 2100: 147,290 · +248.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Italian 7% Slovak 4% Iranian 3%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 5% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Wasatch

• 2024 margin: Strong R (+27.4) · D 35.2% · R 62.6% · Other 2.2%
• 2008→2024 swing: +2.3pp toward D · 2008: -29.8pp · 2024: -27.4pp
• All cycles: 2024: R+27.4 2020: R+26.2 2016: R+25.2 2012: R+52.2 2008: R+29.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -154.44%
• Current HPI: 314.7511
• Rent YoY: —
• Metro: Heber, UT
• State GDP YoY: ▲ 3.54%
• F500 in state: 2

Industry mix (Fortune 500 HQ in UT)

Industry	F500 HQs	Revenue
▸Financial Services	1	$3B

Price history

+0.0% since first listed

2 events — show timeline

• 2026-04-03 Listed $300,000 WFRMLS
• 2026-04-03 Listed $300,000 PCMLS