784 W Resort Dr #122 · Midway, UT 84049

$210,000

1 bd · 1.0 ba · 486 sqft · Condo public records · 44 Days on market

Built 2003 $566/mo HOA · 25% of rent ↓ 5% since listing

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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 +11.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• DSCR +3.2/10.0
• 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

• $566 HOA
• Community pool
• Built 2003

Property features AI

Finance

• Other: Zermatt Resort subdivision; Zoning allows multi-family and short term rentals
• HOA & community: Has homeowners association (HOA LIVING); HOA fee $566 monthly; HOA includes cable TV, insurance, sewer, trash, water; Community clubhouse; HOA amenities: barbecue, biking trails, clubhouse, gated entry, fitness center, hiking trails, on-site security, management, pets not permitted, picnic area, pool, sauna, spa/hot tub, tennis courts, snow removal

Exterior

• Parking: Uncovered/open parking
• Security: On-site security (HOA amenity); Secured building
• Utilities: Natural gas connected; Electricity available; Water connected (culinary); Sewer connected
• Home design: Condo studio; Single level; Built/standing
• Construction: Stone and stucco construction
• Exterior features: Curb & gutter; Paved road; Sidewalks; Automatic full sprinkler system; Near golf course; Landscaping: full; Adjacent to golf course

Interior

• Bedrooms: Primary bedroom on 1st floor; 1 main level bedroom
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (gas central); Central air conditioning
• Interior features: Fire alarm; Accessible elevator installed; Single-level living; Secured building; Double pane windows

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $210k.

Deal economics

• At list price, monthly cash flow is $-89 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $194k (7.5% below list).
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $194k (7.5% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 2.5% 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: 225 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $6k 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 44 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y 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

• Watch-outs: HOA is 25% of rent.

Recommended offer $194,249 (7.5% 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 44 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.08% ✓
• Cap rate: 5.78%
• Cash-on-cash: -1.82%
• DSCR: 0.92
• GRM: 7.7

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: -19.1%
• Equity multiple: 0.33×
• Total profit: $-39,405
• Equity at exit: $31,312

10-year hold

• IRR: -11.4%
• Equity multiple: 0.31×
• Total profit: $-40,392
• Equity at exit: $18,157

Cash invested: $58,800 (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: 225
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,278 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$134 /mo · $1,613/yr
• Insurance: −$88
• HOA: −$566
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $-89

Break-even live

Break-even rent $2,391

Max offer price $194,249

Occupancy floor 99%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $566 · $6,792/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $210,000 Active 44 DOM
2. 2026-06-17
   days on market $210,000 Active 43 DOM
3. 2026-06-16
   days on market $210,000 Active 42 DOM
4. 2026-06-15
   days on market $210,000 Active 41 DOM
5. 2026-06-14
   days on market $210,000 Active 39 DOM
6. 2026-06-10
   days on market $210,000 Active 36 DOM
7. 2026-06-09
   days on market $210,000 Active 35 DOM
8. 2026-06-08
   days on market $210,000 Active 34 DOM
9. 2026-06-07
   days on market $210,000 Active 33 DOM
10. 2026-06-05
    days on market $210,000 Active 30 DOM
11. 2026-06-03
    days on market $210,000 Active 29 DOM
12. 2026-06-02
    days on market $210,000 Active 28 DOM
13. 2026-06-01
    days on market $210,000 Active 27 DOM
14. 2026-05-31
    days on market $210,000 Active 26 DOM
15. 2026-05-31
    days on market $210,000 Active 25 DOM
16. 2026-05-05
    price $210,000
17. 2026-05-05
    listed $205,000 Active
18. 2024-10-29
    soldstatus Closed 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

19. 2024-10-29
    soldstatus

    Show marketing remark (31 chars)

    There are no remarks available.

20. 2024-09-17
    status Under Contract 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

21. 2024-09-06
    status Active 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

22. 2024-08-30
    status Under Contract 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

23. 2024-06-14
    status Active 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

24. 2024-06-06
    status Under Contract 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

25. 2024-05-24
    listed $210,000 Active 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

26. 2009-02-04
    historical
27. 2008-09-04
    historical
28. 2008-08-06
    historical
29. 2008-08-05
    listed $219,900
30. 2008-08-05
    listed
31. 2008-08-05
    listed

ⓘ 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: $1,613 · $134/mo
• Projected year-2 tax: $1,613 · $134/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $27,342
• − Mortgage interest: −$11,763
• − Property taxes: −$1,613
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,187
• − Management: −$2,187
• − HOA: −$6,792
• − Depreciation: −$6,109
• Taxable loss: −$4,360
• Est. tax savings @ 24.0%: +$1,046
• After-tax cash flow: $-24/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

-4.5% since first listed

16 events — show timeline

• 2026-05-05 Price Changed $210,000 WFRMLS
• 2026-05-05 Listed $205,000 WFRMLS
• 2024-10-29 Sold (Public Records) — Public Records
• 2024-10-29 Sold (MLS) — WFRMLS
• 2024-09-17 Pending — WFRMLS
• 2024-09-06 Relisted — WFRMLS
• 2024-08-30 Pending — WFRMLS
• 2024-06-14 Relisted — WFRMLS
• 2024-06-06 Pending — WFRMLS
• 2024-05-24 Listed $210,000 WFRMLS
• 2009-02-04 Listing Removed — WFRMLS
• 2008-09-04 Delisted — PCMLS
• 2008-08-06 Delisted — PCMLS
• 2008-08-05 Listed — PCMLS
• 2008-08-05 Listed — PCMLS
• 2008-08-05 Listed $219,900 WFRMLS

Property tax history

+12.1%/yr

Latest (2025): $1,613 · -18.9% YoY. Source: county tax records.