954 W Schneitter Cir N #4 · Midway, UT 84049

$365,000

2 bd · 2.0 ba · 983 sqft · Condo public records · 60 Days on market

Built 1988 $450/mo HOA · 13% 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).

• Cash flow +14.1/30.0
• ARV discount +7.5/15.0
• 1% rule +4.5/10.0
• DSCR +4.3/10.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

There are no remarks available.

Key facts

• Hot tub
• Private balcony
• Sauna

Tags

• PRIVATE BALCONY
• OPEN KITCHEN
• BONUS STORAGE UNIT
• CLUBHOUSE WITH BANQUET SPACE
• HOT TUB
• SAUNA

Property features AI

Finance

• Other: Subdivision: SWISS OAKS
• HOA & community: Homeowners association (Weston Fuller); Monthly HOA fee of $450; HOA covers grounds maintenance, trash, and water; Community amenities include clubhouse, fitness center, management, playground, racquetball, sauna, spa/hot tub, tennis courts, snow removal, and trash service; Pet rules allow pets

Exterior

• Parking: Attached garage; 1 garage space; 1 covered parking space; 2 open parking spaces; 3 total parking spaces
• Utilities: Natural gas connected; Electricity connected; Public sewer; Culinary (public) water
• Home design: Condo, top-level unit; Residential use; Multi-family zoning; Asphalt roof
• Construction: Composition and stucco construction; Building is built and standing
• Exterior features: Balcony; Double-pane windows; Sliding glass doors; Mountain view; Full landscaping with mature trees and pines; Automatic full sprinklers; Paved road

Interior

• Kitchen: Microwave; Refrigerator; Free-standing range/oven; Garbage disposal; Gas grill/BBQ
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced-air gas heating (central); Window cooling units
• Interior features: Primary bathroom; Garbage disposal; Gas log; Free-standing range/oven; Vaulted ceilings; Drapes; Ceiling fan; Gas grill/BBQ; Fireplace insert
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $365k.

Deal economics

• At list price, monthly cash flow is $56 ($677/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $346k (5.1% below list).
• Recommended offer: $346k (5.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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); Rocky Mountain Middle (math 40% / reading 50%, grade D, #43 of 138 statewide, top 33%, 717 students, 26% 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; 2 comparable units currently listed for rent nearby; high-income renter base; 835 units permitted in Wasatch County in 2024 (22 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 24y ago 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 $346,250 (5.1% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 5% 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. 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?
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. 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?
7. 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.
8. 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.
9. 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: 0.95% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 8.8

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: -15.2%
• Equity multiple: 0.46×
• Total profit: $-55,403
• Equity at exit: $54,423

10-year hold

• IRR: -6.6%
• Equity multiple: 0.58×
• Total profit: $-43,012
• Equity at exit: $31,559

Cash invested: $102,200 (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 84049

• Home prices YoY: -32.9%
• Active inventory: 228
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $3,462 medium
• Mortgage (P&I): −$1,914
• Tax from tax record: −$163 /mo · $1,953/yr
• Insurance: −$152
• HOA: −$450
• Vacancy / Maint / Mgmt: −$727
• Net cashflow: $56

Break-even live

Break-even rent $3,391

Max offer price $365,000

Occupancy floor 93%

Sensitivity live

Price	-10% $263	-5% $160	+0% $56	+5% $-47	+10% $-150
Rent	-10% $-217	-5% $-80	+0% $56	+5% $193	+10% $330
Rate	-1.0pp $240	-0.5pp $149	base $56	+0.5pp $-38	+1.0pp $-134

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
939 Schneitter Cir Unit I-3 Midway, UT	2.0	2.0	1074	$1,850	$1.72	25d	1	0.03mi
983 Grindelwald Ln Unit O4 Midway, UT	2.0	2.0	1074	$2,300	$2.14	23d	1	0.05mi

HOA detail condo

• Monthly dues: $450 · $5,400/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-17
   status $365,000 Under Contract 60 DOM
2. 2026-06-16
   days on market $365,000 Active 60 DOM
3. 2026-06-15
   days on market $365,000 Active 59 DOM
4. 2026-06-14
   days on market $365,000 Active 57 DOM
5. 2026-06-10
   days on market $365,000 Active 54 DOM
6. 2026-06-09
   pricedays on market $365,000 Active 53 DOM
7. 2026-06-08
   days on market $379,900 Active 52 DOM
8. 2026-06-07
   days on market $379,900 Active 51 DOM
9. 2026-06-05
   days on market $379,900 Active 48 DOM
10. 2026-06-03
    days on market $379,900 Active 47 DOM
11. 2026-06-02
    days on market $379,900 Active 46 DOM
12. 2026-06-01
    days on market $379,900 Active 45 DOM
13. 2026-05-31
    days on market $379,900 Active 44 DOM
14. 2026-05-31
    days on market $379,900 Active 43 DOM
15. 2026-04-17
    listed $379,900 Active
16. 2026-03-19
    historical
17. 2026-02-25
    status Active
18. 2026-02-06
    status Under Contract
19. 2025-10-07
    status Active
20. 2025-09-27
    status Under Contract
21. 2025-09-17
    price $399,000
22. 2025-08-21
    listed $410,000 Active
23. 2015-03-23
    soldstatus 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

24. 2015-03-23
    soldstatus

    Show marketing remark (31 chars)

    There are no remarks available.

25. 2014-12-11
    listed $159,000 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

26. 2002-06-10
    soldstatus
27. 2002-05-27
    historical
28. 2002-03-18
    listed $144,500

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

Tax reassessment forecast UT · Resets to sale price

• Current annual tax: $1,953 · $163/mo
• Projected year-2 tax: $2,409 · $201/mo
• Expected delta: +$456/yr (+$38/mo · 23.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 8 d/yr ≥90°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: $41,550
• − Mortgage interest: −$20,446
• − Property taxes: −$1,953
• − Insurance: −$1,825
• − Repairs & maintenance: −$3,324
• − Management: −$3,324
• − HOA: −$5,400
• − Depreciation: −$10,618
• Taxable loss: −$5,340
• Est. tax savings @ 24.0%: +$1,282
• After-tax cash flow: $1,959/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: 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

+162.9% since first listed

14 events — show timeline

• 2026-04-17 Listed $379,900 WFRMLS
• 2026-03-19 Listing Removed — WFRMLS
• 2026-02-25 Relisted — WFRMLS
• 2026-02-06 Pending — WFRMLS
• 2025-10-07 Relisted — WFRMLS
• 2025-09-27 Pending — WFRMLS
• 2025-09-17 Price Changed $399,000 WFRMLS
• 2025-08-21 Listed $410,000 WFRMLS
• 2015-03-23 Sold (Public Records) — Public Records
• 2015-03-23 Sold (MLS) — WFRMLS
• 2014-12-11 Listed $159,000 WFRMLS
• 2002-06-10 Sold (MLS) — PCMLS
• 2002-05-27 Delisted — PCMLS
• 2002-03-18 Listed $144,500 PCMLS

Property tax history

-1.0%/yr

Latest (2025): $1,953 · -35.0% YoY. Source: county tax records.