At PMI Made Simple we strive to be your financial guide along your journey to financial freedom through real estate. We also believe that Utah county and Utah is a unique real estate market that can be rewarding to real estate investors.
This is a quick real estate investment analysis of a condo that just hit the market in the East part of Eagle Mountain near the Ranches! This property has a couple of things going for it that we think that this could be a great 1st or 2nd acquisition for a real estate investor. Its price is great to get a 3 bedroom property at $205,000. Market rate rents are $1,175/mo. However, one of the bedrooms would need to be repainted to get that rental rate.
Here are a few of the reasons why we like it:
- 2009 construction
- This area of Eagle Mountain near the Ranches grown alot with a lot of commerical real estate come into the area. Growth is only going to get better for this are over time as well.
- Solid school system near Westlake High School
- Potential for positive cash flow after HOA payments with a 25% downpayment
- The community comes with great amenities.
We like investments in the East Side of Eagle Mountian, we think you can get a lot of property for your investment.
Here is our summary scorecard.
| City Type | Millcreek Condo |
|---|---|
| Price for Cash Flow? | B |
| Est. Vacancy? | B |
| Property Age/condition | A- |
| Infrastructure/growth | B+ |
| Key Characteristics | Growth area, low price point, good condition |
| Recommended Investment | Someone getting started |
| Who is it a fit for? | Learning opportunity, lower buy in |
All figures are estimates. Brokerage services provided by PMI Wasatch
