223 E Jordan Ridge Blvd #102 · Saratoga Springs, UT 84045

$315,000

3 bd · 2.0 ba · 1,308 sqft · Condo public records · 10 Days on market

Built 2011 $250/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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.1/30.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +0.4/10.0

Listing remarks MLS

There are no remarks available.

Key facts

• New furnace
• Brand new appliances
• New water heater

Tags

• BRAND NEW APPLIANCES
• BRAND NEW FLOORING
• BRAND NEW PAINT
• NEW WATER HEATER
• NEW FURNACE
• GENEROUS SIZED KITCHEN

Property features AI

Finance

• Other: Subdivision: Jordan Ridge Condominium
• HOA & community: Homeowners association with a $250 monthly fee; HOA covers insurance, grounds maintenance, trash, and water; Community amenities include barbecue area, playground, and snow removal

Exterior

• Parking: Two-car garage plus two additional covered parking spaces (4 total); Covered parking
• Utilities: Natural gas connected; Electricity connected; Water (culinary) connected; Sewer connected
• Home design: Condo, main-level layout; Building is built and standing
• Construction: Stucco construction; Asphalt roof
• Exterior features: Asphalt roof; North-facing; Lot approximately 0.03 acres; Multi-family zoning; Stucco exterior

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms
• Heating & cooling: Gas central heating; Central air conditioning
• Interior features: Blinds; Ceiling fan
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $315k.

Deal economics

• At list price, monthly cash flow is $-591 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (33.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (37.5% below list).
• Recommended offer: $197k (37.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#93 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.
• Alpine District (suburban): math 45% / reading 50% proficiency, ranked #25 of 80 in UT (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Riverview School (math 56% / reading 55%, grade C, #93 of 585 statewide, top 17%, 977 students, 16% FRL); Vista Heights Middle (math 50% / reading 51%, grade D+, #25 of 171 statewide, top 15%, 1,519 students, 16% FRL); Westlake High (math 39% / reading 48%, grade F, #50 of 171 statewide, top 29%, 2,659 students, 12% FRL) — zoned schools at 15% FRL track the district average.
• Market conditions: Rents flat; 1185 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 6,326 units permitted in Utah County in 2024 (1,053 in 5+ unit buildings).

Forward outlook

• In year one you build about $34k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Utah County population projected at +49% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$54k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y 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.

Recommended offer $196,963 (37.5% 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. 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 B-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: 0.63% ✗
• Cap rate: 4.04%
• Cash-on-cash: -8.04%
• DSCR: 0.64
• GRM: 13.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.68% rent growth · sell at horizon

5-year hold

• IRR: 18.1%
• Equity multiple: 2.47×
• Total profit: $129,446
• Equity at exit: $283,777

10-year hold

• IRR: 16.5%
• Equity multiple: 5.56×
• Total profit: $402,529
• Equity at exit: $611,976

Cash invested: $88,200 (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 84045

• Home prices YoY: 3.9%
• Rents YoY: 0.7%
• Active inventory: 1185
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $1,970 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$114 /mo · $1,364/yr
• Insurance: −$131
• HOA: −$250
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $-591

Break-even live

Break-even rent $2,717

Max offer price $210,631

Occupancy floor —

Sensitivity live

Price	-10% $-412	-5% $-502	+0% $-591	+5% $-680	+10% $-769
Rent	-10% $-746	-5% $-669	+0% $-591	+5% $-513	+10% $-435
Rate	-1.0pp $-432	-0.5pp $-511	base $-591	+0.5pp $-672	+1.0pp $-755

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
157 E Jordan Ridge Blvd #311 Saratoga Springs, UT	3.0	2.0	1255	$1,650	$1.31	20d	1	0.10mi
1256 Commerce Dr Saratoga Springs, UT	1.0–3.0	1.0–2.0	1147	$1,759	$1.53	4d	15	0.10mi
127 Jordan Ridge Blvd Saratoga Springs, UT	3.0	2.0	1278	$1,595	$1.25	4d	1	0.13mi
1532 N Rosa Ln Saratoga Springs, UT	3.0	2.5	1367	$2,234	$1.63	25d	1	0.45mi
3761 W 620 N Lehi, UT	3.0	2.0	1383	$2,295	$1.66	15d	1	0.75mi
830 N Canvasback Dr Lehi, UT	3.0	2.0	1311	$1,950	$1.49	22d	1	0.92mi
241 W Ridge Rd Saratoga Springs, UT	3.0	2.0	1196	$1,650	$1.38	4d	1	0.98mi
79 W Ridge Rd Saratoga Springs, UT	3.0	2.0	1200	$1,550	$1.29	4d	1	0.99mi
848 N Old Ranch Rd Unit 1 Lehi, UT	3.0	2.0	1400	$2,250	$1.61	4d	1	1.00mi
1823 N Crest Rd Saratoga Springs, UT	3.0	2.0	1264	$1,650	$1.31	25d	1	1.03mi
902 N Old Ranch Rd Lehi, UT	3.0	2.0	1400	$2,100	$1.50	25d	1	1.04mi
1093 3980 W Lehi, UT	3.0	2.0	1272	$1,625	$1.28	4d	1	1.17mi
251 N Riverside Dr Saratoga Springs, UT	4.0	2.5	1587	$2,250	$1.42	15d	1	1.19mi
3757 Big Horn Dr Unit 1 Lehi, UT	3.0	2.5	1600	$2,300	$1.44	15d	1	1.28mi
2153 Springtime Dr Unit Bedroom 1 Master Saratoga Springs, UT	3.0	2.0	1375	$900	$0.65	15d	1	1.34mi
157 W Springview Dr Unit 1 Saratoga Springs, UT	3.0	2.0	1250	$1,625	$1.30	25d	1	1.35mi
1342 N 3650 W Unit W303 Eagle Mountain, UT	3.0	2.0	1300	$1,550	$1.19	4d	1	1.37mi
1423 N 3830 W Unit B204 Lehi, UT	3.0	2.0	1272	$1,950	$1.53	4d	1	1.43mi
1424 N 3830 W Lehi, UT	3.0	2.0	1272	$1,850	$1.45	15d	1	1.43mi
3722 W 1440 N Unit F202 Eagle Mountain, UT	3.0	2.0	1336	$1,495	$1.12	25d	1	1.44mi
1451 N 3830 W #204 Lehi, UT	3.0	2.0	1272	$1,895	$1.49	25d	1	1.46mi
68 S Willow Circle Loop Unit B Lehi, UT	3.0	2.0	1285	$1,625	$1.26	25d	1	1.47mi
28 S Willow Circle Loop Lehi, UT	3.0	2.0	1285	$1,550	$1.21	25d	2	1.47mi
967 E Drifter Ln Saratoga Springs, UT	3.0	2.0	1399	$2,200	$1.57	15d	1	1.47mi
982 E Drifter Ln Saratoga Springs, UT	3.0	3.0	1508	$2,250	$1.49	25d	1	1.48mi
3637 W 1480 N Eagle Mountain, UT	3.0	2.0	1228	$1,899	$1.55	15d	1	1.49mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-07
   statusdays on market $315,000 Under Contract 10 DOM
2. 2026-06-03
   days on market $315,000 Active 8 DOM
3. 2026-06-03
   days on market $315,000 Active 7 DOM
4. 2026-06-01
   days on market $315,000 Active 6 DOM
5. 2026-05-31
   days on market $315,000 Active 5 DOM
6. 2026-05-31
   days on market $315,000 Active 4 DOM
7. 2026-05-26
   listed $315,000 Active
8. 2015-02-24
   soldstatus 31-char remark

   Show marketing remark (31 chars)

   There are no remarks available.

9. 2014-12-17
   listed $159,900 31-char remark

   Show marketing remark (31 chars)

   There are no remarks available.

10. 2014-05-04
    historical
11. 2013-11-04
    listed $159,900

ⓘ 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: $1,364 · $114/mo
• Projected year-2 tax: $2,079 · $173/mo
• Expected delta: +$715/yr (+$60/mo · 52.4%)

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

Taxation est. · year 1

• Rental income: $23,636
• − Mortgage interest: −$17,645
• − Property taxes: −$1,364
• − Insurance: −$1,575
• − Repairs & maintenance: −$1,891
• − Management: −$1,891
• − HOA: −$3,000
• − Depreciation: −$9,164
• Taxable loss: −$12,894
• Est. tax savings @ 24.0%: +$3,094
• After-tax cash flow: $-3,995/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: Alpine District
• NCES district ID: 4900030
• Math proficiency: 45% ▼ -4.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $68,595
• Composite: 42.48/100
• National rank: #3213
• State rank: #25 of 80 in UT

Livability — Saratoga Springs

• Score: 70/100
• State rank: #93
• US rank: #7648

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Saratoga Springs, UT
• County: Utah County · 661,754 people
• City population: 45,429
• Metro: Provo-Orem, UT
• Population (ZIP): 45,429
• Household income: $130,331
• Rent vs Own: 14.8% rent · 85.2% own
• Severe rent burden: 476.0

Population outlook (Utah County) Hauer SSP2

• Today (2025): 693,420 people
• By 2030: 757,324 · +9.2%
• By 2040: 893,178 · +28.8%
• By 2050: 1,035,842 · +49.4%
• By 2075: 1,376,733 · +98.5%
• By 2100: 1,609,388 · +132.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 12% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 7% Scottish 4% Slovak 4%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Utah

• 2024 margin: Solid R (+39.8) · D 28.5% · R 68.3% · Other 3.2%
• 2008→2024 swing: +19.1pp toward D · 2008: -58.9pp · 2024: -39.8pp
• All cycles: 2024: R+39.8 2020: R+41.0 2016: R+37.3 2012: R+78.5 2008: R+58.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.09%
• Current HPI: 298.0545
• Rent YoY: ▲ 0.68%
• Metro: Provo-Orem, 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

+97.0% since first listed

5 events — show timeline

• 2026-05-26 Listed $315,000 WFRMLS
• 2015-02-24 Sold (MLS) — WFRMLS
• 2014-12-17 Listed $159,900 WFRMLS
• 2014-05-04 Listing Removed — WFRMLS
• 2013-11-04 Listed $159,900 WFRMLS

Property tax history

+4.8%/yr

Latest (2025): $1,364 · -1.4% YoY. Source: county tax records.