3261 LANTERN HILL, Cottonwood Heights, UT 84093
4BD/—BA Residential in Cottonwood Heights, UT 84093. 4,102 sqft. Built 1999. Listed at $1,125,000. MLS #2123797.
4BD/—BA Residential in Cottonwood Heights, UT 84093. 4,102 sqft. Built 1999. Listed at $1,125,000. MLS #2123797.
This magnificent two-story home in the prestigious, private, gated community of Lantern Hill is perched high on the east bench with breathtaking mountain and valley views. Overlooking Willow Creek Country Club and just minutes from Big and Little Cottonwood Canyons, the location offers exceptional access to world-class skiing, golf, biking, hiking, and outdoor recreation. This extensively updated home features an open, spacious floor plan designed to enhance flow and natural light, with picture windows that frame the surrounding scenery (Frank Loyd Wright would be proud). Main-floor living includes a bright family gathering space adjacent to the dining area and a welcoming kitchen-an ideal layout for everyday living and entertaining. A private office or den near the entryway provides beautiful mountain views and a quiet place to work or relax. The primary suite is a serene retreat with a luxurious ensuite bathroom featuring a Euro-glass shower, a separate soaking tub, and a generous walk-in closet. The lower level is warm and inviting, with eight-foot ceilings, numerous above-grade windows, and a walkout to a covered patio. The vast open layout offers remarkable flexibility and could easily be reconfigured to add an additional bedroom if desired. With four bedrooms, five baths, three living areas, a large pantry, and highly adaptable lower-level space, this meticulously maintained home shows like a model. Lantern Hill's enclave of just 20 custom homes creates a secluded, secure atmosphere, enhanced by professional landscaping and a walking path that surrounds the community. Its incredible setting, privacy, and the exceptional quality of this neighborhood make the property a rare opportunity and truly a must-see. Infrared Sauna not included. HOA includes driveway and sidewalk snow removal. Seller is open to contributing toward a modern wireless pet containment system, such as Halo, creating a wonderful solution for dog owners while preserving the community's open landscape design.
Property Type
Residential
Property Style
Single Family Residence
Architectural Style
Stories: 2
Stories
3
Subdivision
LANTERN HILL AT WILL
County
Salt Lake
Zoning
Single-Family
Construction
Stone,Stucco,Other
Lot Size
0.1 sq ft
Above Grade Area
2,603 sq ft
Condition
Blt./Standing
MLS #
2123797
Property Type
Residential
Property Style
Single Family Residence
Architectural Style
Stories: 2
Stories
3
Subdivision
LANTERN HILL AT WILL
County
Salt Lake
Zoning
Single-Family
Construction
Stone,Stucco,Other
Lot Size
0.1 sq ft
Above Grade Area
2,603 sq ft
Condition
Blt./Standing
MLS #
2123797
List Price
$1,125,000
Original Price
$1,250,000
HOA Fees
$320 / Monthly
Annual Taxes
$5,255
Home Warranty
No
List Price
$1,125,000
Original Price
$1,250,000
HOA Fees
$320 / Monthly
Annual Taxes
$5,255
Home Warranty
No
Heating
Forced Air,Gas: Central
Cooling
Central Air
Roof
Asphalt
Flooring
Carpet,Hardwood,Tile
Basement
Full,Walk-Out Access
Materials
Stone,Stucco,Other
Appliances
Refrigerator
Laundry
Electric Dryer Hookup
Patio & Porch
Covered,Patio: Open
Water Source
Culinary
Sewer
Sewer: Connected,Sewer: Public
View
Mountain(s)
Heating
Forced Air,Gas: Central
Cooling
Central Air
Roof
Asphalt
Flooring
Carpet,Hardwood,Tile
Basement
Full,Walk-Out Access
Materials
Stone,Stucco,Other
Appliances
Refrigerator
Laundry
Electric Dryer Hookup
Patio & Porch
Covered,Patio: Open
Water Source
Culinary
Sewer
Sewer: Connected,Sewer: Public
View
Mountain(s)
Garage Spaces
2
Covered Spaces
2
Total Parking
2
Garage Spaces
2
Covered Spaces
2
Total Parking
2
Why this is a deal
Classification
Great Deal (vs Similar)
Deal Score
83/100
vs Similar Homes
13% below
vs Market Median
3% above
Price Reduced
10.0%
Area Growth (YoY)
2.9%
Deal Score Breakdown
83/100 · 2 qualifying signals
10% price reduction from original list — seller may be motivated
Priced 13% below the median of similar listings
Priced 3% above the per-subtype city median
2.9% year-over-year ZHVI growth in this area
LT net cashflow -$3,061/mo (-38.5% return on ownership cost) · STR net cashflow -$4,929/mo (-62.0% return). Uses the better of LT or STR against total monthly ownership cost (P&I, tax, insurance, HOA, maintenance).
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
$5,559/mo
Range: $4,059 – $7,059
Net Monthly Cash Flow
−$3,060 /mo (−$36,725/yr)
Monthly rental income
Monthly ownership cost
Coverage
70%
Net /mo
−$3,061
DSCR
0.86
Est. Annual Revenue
$51,833/yr
$364/night · 41% occupancy · $123/bedroom · $0.38/sqft
Net Monthly Cash Flow
−$4,929 /mo (−$59,148/yr)
Monthly STR income
Monthly ownership cost
Coverage
54%
Net /mo
−$4,929
DSCR
0.53
Best Download
8 Gbps
Best Upload
8 Gbps
Fiber Available
Yes
Providers
11
Available Providers
$784,900
+43% vs median
60 days
63
$259,900 – $7,999,999
$5,255
$320/monthly
Moderate
4.6
per 1,000
27.2
per 1,000
8.9
per 1,000
40.7
per 1,000
National rates use FBI UCR Index Crimes. Local rates use NIBRS which may include additional offense categories.
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