201 Heber Ave Unit 309.E · Park City, UT 84060

$640,000

3 bd · 3.0 ba · 1,976 sqft · Condo · 111 Days on market

Built 2007 $1488/mo HOA · 25% of rent

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Why this score? — see what drove the D 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).

• Appreciation +8.3/10.0
• ARV discount +7.5/15.0
• Cash flow +6.1/30.0
• Schools +4.7/10.0
• 1% rule +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.5/10.0

Listing remarks MLS

Old Town Fractional Steps from Skiing and Main Street

Key facts

• Ski-in access
• High-end finishes
• Open-concept layout

Tags

• SKI-IN ACCESS
• OVERSIZED PRIVATE DECKS
• SWEEPING MOUNTAIN VIEWS
• HIGH-END FINISHES
• OPEN-CONCEPT LAYOUT
• LOCK-AND-LEAVE OWNERSHIP

Property features AI

Finance

• Financial info: Association fee: $4,464 quarterly
• HOA & community: Homeowners association (Scofield); Quarterly HOA fee; HOA covers cable TV, gas, insurance, grounds maintenance, sewer, trash, water; Community amenities include concierge, fitness center, pool, sauna, storage, management, snow removal; pets not permitted

Exterior

• Parking: Attached garage (secured); 1 total parking space (1 covered, 1 garage space)
• Security: Secured parking; Fire alarm
• Utilities: Natural gas connected; Electricity connected; Public sewer connected; Culinary water connected
• Home design: Condo, middle level; Fractional ownership; Built and standing (effective year 2026); Metal roof
• Construction: Cement siding; Metal siding; Built/standing (2026 effective)
• Exterior features: Covered deck; Secured parking; Sliding glass doors; Hot tub; Partially landscaped; Paved road access

Interior

• Kitchen: Refrigerator; Range hood; Wall oven; Gas range
• Bedrooms: Primary bedroom on 1st floor; 3 main level bedrooms
• Flooring: Hardwood flooring; Tile flooring
• Bathrooms: 2 full bathrooms; 1 three-quarter bathroom
• Heating & cooling: Forced air heating
• Interior features: Fire alarm; Gas log; Updated kitchen; Wall oven; Gas range/oven; Drapes/window coverings; Fireplace insert
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $640k.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $459k (28.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $598k (6.6% below list).
• Recommended offer: $459k (28.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 72/100 on livability (#78 in UT) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime D, cost of living F, health & safety F.
• Park City District (town): math 46% / reading 53% proficiency, ranked #9 of 80 in UT (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Mcpolin School (math 62% / reading 52%, grade C+, #75 of 585 statewide, top 14%, 403 students, 29% FRL); Park City High (math 39% / reading 58%, grade D, #33 of 171 statewide, top 19%, 1,224 students, 13% FRL) — zoned schools at 21% FRL track the district average.
• Market conditions: 705 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 917 units permitted in Summit County in 2024 (529 in 5+ unit buildings).
• At $5,980/mo this rent would consume 56% of the median local household income ($128k/yr) (locally 223% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $47k of equity ($4k loan paydown + $43k appreciation (6.7% local appreciation)).
• Summit County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$75k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($582k) 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

• Watch-outs: flood insurance adds $66/mo; HOA is 25% of rent.
• Climate carrying-cost: severe flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $458,721 (28.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 4.07%
• Cash-on-cash: -7.94%
• DSCR: 0.65
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.67% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.4%
• Equity multiple: 1.73×
• Total profit: $131,610
• Equity at exit: $429,534

10-year hold

• IRR: 11.5%
• Equity multiple: 3.49×
• Total profit: $445,975
• Equity at exit: $803,575

Cash invested: $179,200 (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 84060

• Home prices YoY: 2.1%
• Active inventory: 705
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $5,980 high
• Mortgage (P&I): −$3,356
• Tax est. 1.5%: −$800 /mo · $9,600/yr
• Insurance: −$267
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,488
• Vacancy / Maint / Mgmt: −$1,256
• Net cashflow: $-1,253

Break-even live

Break-even rent $7,566

Max offer price $458,721

Occupancy floor —

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: $160,000
• Closing costs: $19,200
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1000 Park Ave Unit C203 Park City, UT	3.0	3.0	1704	$6,500	$3.81	23d	1	0.24mi
670 Deer Valley Loop #11 Park City, UT	3.0	3.0	1815	$8,200	$4.52	3d	1	0.42mi
214 Woodside Ave Park City, UT	3.0	3.5	2500	$8,500	$3.40	21d	1	0.43mi
1670 Deer Valley Dr N Park City, UT	3.0	3.0	2090	$7,500	$3.59	21d	1	0.90mi
1521 Three Kings Dr Park City, UT	3.0	2.5	1349	$4,000	$2.97	2d	1	0.97mi
1975 Paddington Dr #1975 Park City, UT	3.0	2.5	2100	$5,000	$2.38	23d	1	1.14mi
2410 Deer Lake Dr Unit NA Park City, UT	2.0	3.0	1728	$6,500	$3.76	3d	1	1.17mi
2317 Calumet Cir Park City, UT	3.0	2.5	1909	$5,000	$2.62	23d	1	1.41mi

HOA detail condo

• Monthly dues: $1,488 · $17,856/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $640,000 Active 111 DOM
2. 2026-06-17
   days on market $640,000 Active 110 DOM
3. 2026-06-16
   days on market $640,000 Active 109 DOM
4. 2026-06-15
   days on market $640,000 Active 108 DOM
5. 2026-06-13
   days on market $640,000 Active 106 DOM
6. 2026-06-13
   days on market $640,000 Active 105 DOM
7. 2026-06-09
   days on market $640,000 Active 102 DOM
8. 2026-06-08
   days on market $640,000 Active 101 DOM
9. 2026-06-07
   days on market $640,000 Active 100 DOM
10. 2026-06-03
    days on market $640,000 Active 96 DOM
11. 2026-06-02
    days on market $640,000 Active 95 DOM
12. 2026-06-01
    days on market $640,000 Active 94 DOM
13. 2026-05-31
    days on market $640,000 Active 93 DOM
14. 2026-02-27
    listed $640,000 Active

    Show marketing remark (53 chars)

    Old Town Fractional Steps from Skiing and Main Street

15. 2026-02-27
    listed $640,000 Active 53-char remark

    Show marketing remark (53 chars)

    Old Town Fractional Steps from Skiing and Main Street

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 1/10 Low 8 d/yr ≥81°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $71,766
• − Mortgage interest: −$35,850
• − Property taxes: −$9,600
• − Insurance: −$3,998
• − Repairs & maintenance: −$5,741
• − Management: −$5,741
• − HOA: −$17,856
• − Depreciation: −$18,618
• Taxable loss: −$25,638
• Est. tax savings @ 24.0%: +$6,153
• After-tax cash flow: $-8,880/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.

Schools (NCES district)

• District: Park City District
• NCES district ID: 4900750
• Math proficiency: 46% ▼ -5.00%
• Reading proficiency: 53% ▼ -2.00%
• Median HH income: $103,108
• Composite: 47.42/100
• National rank: #2284
• State rank: #9 of 80 in UT

Livability — Park City

• Score: 72/100
• State rank: #78
• US rank: #6121

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Park City, UT
• County: Summit County · 28,976 people
• City population: 28,976
• Metro: Heber, UT
• Population (ZIP): 8,619
• Household income: $128,295
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 223.0

Population outlook (Summit County) Hauer SSP2

• Today (2025): 48,272 people
• By 2030: 52,532 · +8.8%
• By 2040: 60,766 · +25.9%
• By 2050: 68,678 · +42.3%
• By 2075: 90,024 · +86.5%
• By 2100: 107,150 · +122.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 16% Two or more races 6% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 7% Lithuanian 6% Slovak 4%
• Foreign-born: 13% · Canada
• Languages at home: 79% English-only · Spanish 16% Tagalog/Filipino 2% French/Haitian/Cajun 1%

Political lean MEDSL · Summit

• 2024 margin: D (+14.8) · D 56.5% · R 41.7% · Other 1.9%
• 2008→2024 swing: -0.5pp no change · 2008: 15.3pp · 2024: 14.8pp
• All cycles: 2024: D+14.8 2020: D+19.1 2016: D+15.4 2012: R+4.9 2008: D+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.67%
• Current HPI: 318.2413
• 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

• 2026-02-27 Listed $640,000 WFRMLS
• 2026-02-27 Listed $640,000 PCMLS