939 Schneitter Cir #3 · Midway, UT 84049

$375,000

2 bd · 2.0 ba · 1,074 sqft · Condo public records · 104 Days on market

Built 1986 $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 +13.1/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• 1% rule +4.2/10.0
• DSCR +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks in the heart of Midway! This 2-bedroom, 2-bath main-floor condo offers a functional layout with no stairs and easy access for everyday living. Ideal for buyers looking to build equity or investors seeking a value-add project, the home provides a solid starting point with quartz kitchen countertops and a tile backsplash already in place. With a little vision and updating, this unit has the potential to shine as a full-time residence, weekend retreat, or rental. Step out from your living room onto your peaceful patio and enjoy a summer BBQ while taking in peaceful views of the valley. A detached one-car garage provides convenient parking and extra storage, and the location

Key facts

• Views of the valley
• Peaceful patio
• Main floor condo

Tags

• MAIN FLOOR CONDO
• QUARTZ KITCHEN COUNTERTOPS
• TILE BACKSPLASH
• PEACEFUL PATIO
• VIEWS OF THE VALLEY
• DETACHED ONE CAR GARAGE

Property features AI

Finance

• Other: Has view; Above-grade finished area reported
• HOA & community: Homeowners association (Weston Fuller); Monthly HOA fee of $450; HOA covers insurance and grounds maintenance; Community amenities: clubhouse, fitness center, spa/hot tub, playground, picnic area, tennis and racquetball courts, snow removal, management, maintenance, pets permitted

Exterior

• Parking: Covered parking; One total parking space; One garage space (1-car garage)
• Utilities: Natural gas connected; Electricity connected; Sewer connected; Culinary water connected
• Home design: Condo, main-level unit; Ground-level accessibility; Property currently built and standing; Multi-family zoning
• Construction: Asphalt and stucco construction materials; Asbestos shingle roof
• Exterior features: Sliding glass doors; Valley view; Paved road access; Automatic full sprinkler system; Graded/sloped terrain; Fruit trees and full landscaping; Has spa

Interior

• Kitchen: Built-in range/oven; Disposal; Refrigerator
• Bedrooms: Two main-level bedrooms; Primary bedroom on 1st floor
• Flooring: Carpet; Linoleum; Tile
• Bathrooms: Two full bathrooms
• Heating & cooling: Gas central heating
• Interior features: Primary bathroom; Disposal; Built-in range/oven; Blinds and drapes; Total of 8 rooms; No basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $375k.

Deal economics

• At list price, monthly cash flow is $-12 ($-145/yr) — negative.
• To cash-flow at today's rent, offer at most $373k (0.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $346k (7.7% below list).
• Recommended offer: $341k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.3% 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 104 days — a 9% lower offer ($341k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $341,250 (9.0% 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 104 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.92% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.14%
• DSCR: 0.99
• GRM: 9.0

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: -16.5%
• Equity multiple: 0.42×
• Total profit: $-61,386
• Equity at exit: $55,914

10-year hold

• IRR: -8.2%
• Equity multiple: 0.49×
• Total profit: $-53,841
• Equity at exit: $32,423

Cash invested: $105,000 (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: 9.0×

Monthly cashflow live

• Estimated rent: $3,462 medium
• Mortgage (P&I): −$1,967
• Tax from tax record: −$175 /mo · $2,096/yr
• Insurance: −$156
• HOA: −$450
• Vacancy / Maint / Mgmt: −$727
• Net cashflow: $-12

Break-even live

Break-even rent $3,478

Max offer price $372,870

Occupancy floor 95%

Sensitivity live

Price	-10% $200	-5% $94	+0% $-12	+5% $-118	+10% $-224
Rent	-10% $-286	-5% $-149	+0% $-12	+5% $125	+10% $261
Rate	-1.0pp $177	-0.5pp $83	base $-12	+0.5pp $-109	+1.0pp $-208

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: $93,750
• Closing costs: $11,250
• 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 15 events

1. 2026-06-22
   days on market $375,000 Active 104 DOM
2. 2026-06-18
   status $375,000 Active 101 DOM
3. 2026-06-14
   statusdays on market $375,000 Under Contract 101 DOM
4. 2026-06-10
   days on market $375,000 Active 99 DOM
5. 2026-06-09
   days on market $375,000 Active 98 DOM
6. 2026-06-08
   days on market $375,000 Active 97 DOM
7. 2026-06-07
   days on market $375,000 Active 96 DOM
8. 2026-06-05
   days on market $375,000 Active 93 DOM
9. 2026-06-03
   days on market $375,000 Active 92 DOM
10. 2026-06-02
    days on market $375,000 Active 91 DOM
11. 2026-06-01
    days on market $375,000 Active 90 DOM
12. 2026-05-31
    days on market $375,000 Active 89 DOM
13. 2026-05-31
    days on market $375,000 Active 88 DOM
14. 2026-03-03
    listed $375,000 Active
15. 2017-08-10
    soldstatus

ⓘ 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: $2,096 · $175/mo
• Projected year-2 tax: $2,475 · $206/mo
• Expected delta: +$379/yr (+$32/mo · 18.1%)

ⓘ 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: −$21,006
• − Property taxes: −$2,096
• − Insurance: −$1,875
• − Repairs & maintenance: −$3,324
• − Management: −$3,324
• − HOA: −$5,400
• − Depreciation: −$10,909
• Taxable loss: −$6,384
• Est. tax savings @ 24.0%: +$1,532
• After-tax cash flow: $1,387/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

2 events — show timeline

• 2026-03-03 Listed $375,000 WFRMLS
• 2017-08-10 Sold (Public Records) — Public Records

Property tax history

+2.3%/yr

Latest (2025): $2,096 · -52.1% YoY. Source: county tax records.