529 MAY, Cedar City, UT 84720
3BD/—BA Residential in Cedar City, UT 84720. 1,400 sqft. Built 2023. Listed at $360,000. MLS #2156355.
3BD/—BA Residential in Cedar City, UT 84720. 1,400 sqft. Built 2023. Listed at $360,000. MLS #2156355.
INVESTORS take a look! Cap rate over 5%!!! Turnkey investment opportunity in the Cedar City! This home boasts a current cap rate of over 5% with current business model, year-round income potential. Built in 2023, this like-new 3-bedroom, 2-bath townhome offers approximately 1,400 sq ft and is perfectly positioned for investors seeking strong cash flow and multiple rental strategies. Currently operating as a furnished short-term summer rental and school year student housing property, this property benefits from Cedar City's growing tourism, thriving arts scene, and nearly 10,000-student university population. Targeted for Airbnb, vacation rental, and Southern Utah University student housing, Visitors are drawn year-round by nearby national parks, Brian Head ski resort, world-class hiking, dark-sky stargazing, and the renowned Utah Shakespeare Festival, which welcomes over 100,000 visitors annually. The current owners have already built a successful turnkey system for the next investor, with more than 18 summer bookings currently on the calendar and 27 five-star Airbnb reviews. Everything is already in place, including the Airbnb listing and online presence, professional cleaners, student housing lease agreements ready for signatures, and student cleaning documents, making for a seamless transition and immediate income opportunity. Inside, you'll find durable LVP flooring, quartz countertops, smart locks, modern finishes, and a functional open layout designed for low-maintenance ownership. The property is fully furnished for both students and short term renters and ready for immediate rental income. Additional features include two walk in closets, basement crawl space storage and a spacious two-car garage. Conveniently located near SUU, shopping, dining, and entertainment, with easy access to national parks, only 30 minutes to ski resorts, 15 minutes to Kanarra falls, 20 minutes to west entrance of Zions and approximately 45 minutes to St. George. Whether you're expanding your portfolio, seeking a 1031 exchange opportunity, or entering the short-term rental market, this property offers flexibility, location, and proven income potential.
Property Type
Residential
Property Style
Townhouse
Architectural Style
Townhouse; Row-mid
Stories
2
Subdivision
OLD SORREL TOWNHOMES PUD
County
Iron
Zoning
Multi-Family
Lot Size
1,045 sq ft
Above Grade Area
1,400 sq ft
Condition
Blt./Standing
MLS #
2156355
Property Type
Residential
Property Style
Townhouse
Architectural Style
Townhouse; Row-mid
Stories
2
Subdivision
OLD SORREL TOWNHOMES PUD
County
Iron
Zoning
Multi-Family
Lot Size
1,045 sq ft
Above Grade Area
1,400 sq ft
Condition
Blt./Standing
MLS #
2156355
List Price
$360,000
HOA Fees
$150 / Monthly
Annual Taxes
$1,750
Home Warranty
No
List Price
$360,000
HOA Fees
$150 / Monthly
Annual Taxes
$1,750
Home Warranty
No
Heating
Forced Air,Gas: Central
Cooling
Central Air
Roof
Asphalt
Flooring
Carpet
Basement
None
Appliances
Dryer,Microwave,Range Hood,Refrigerator,Washer
Laundry
Electric Dryer Hookup
Water Source
Culinary
Sewer
Sewer: Connected
View
Mountain(s),View: Red Rock
Heating
Forced Air,Gas: Central
Cooling
Central Air
Roof
Asphalt
Flooring
Carpet
Basement
None
Appliances
Dryer,Microwave,Range Hood,Refrigerator,Washer
Laundry
Electric Dryer Hookup
Water Source
Culinary
Sewer
Sewer: Connected
View
Mountain(s),View: Red Rock
Garage Spaces
2
Covered Spaces
2
Total Parking
4
Garage Spaces
2
Covered Spaces
2
Total Parking
4
Why this is a deal
Classification
Standard
Deal Score
80/100
vs Similar Homes
7% above
vs Market Median
11% above
Area Growth (YoY)
10.0%
Deal Score Breakdown
80/100 · 1 qualifying signal
10.0% year-over-year ZHVI growth in this area
Priced 7% above the median of similar listings
Priced 11% above the per-subtype city median
LT net cashflow -$1,195/mo (-46.5% return on ownership cost) · STR net cashflow -$2,084/mo (-81.1% return). Uses the better of LT or STR against total monthly ownership cost (P&I, tax, insurance, HOA, maintenance).
No price reduction from original list
Ensemble scoring: the best single signal sets the floor, secondary qualifying signals (≥60) each add 5 points up to +20. A home that strongly wins on one dimension is already a great deal — it doesn't need to tick every box.
Why this classification
Monthly Rent
$1,563/mo
Range: $1,141 – $1,984
Net Monthly Cash Flow
−$1,195 /mo (−$14,337/yr)
Monthly rental income
Monthly ownership cost
Coverage
61%
Net /mo
−$1,195
DSCR
0.77
Est. Annual Revenue
$8,331/yr
$183/night · 44% occupancy · $54/bedroom · $0.09/sqft
Net Monthly Cash Flow
−$2,084 /mo (−$25,014/yr)
Monthly STR income
Monthly ownership cost
Coverage
27%
Net /mo
−$2,084
DSCR
0.27
Best Download
1 Gbps
Best Upload
1 Gbps
Fiber Available
Yes
Providers
8
Available Providers
$440,000
-18% vs median
88 days
162
$235,000 – $5,750,000
$1,750
$150/monthly
Low Crime
9.4
per 1,000
18.3
per 1,000
7.4
per 1,000
35.1
per 1,000
National rates use FBI UCR Index Crimes. Local rates use NIBRS which may include additional offense categories.
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