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$324,900

For Sale - Active
3510 S 300 E Apt E, South Salt Lake, UT 84115
2 Beds
2 Baths
1,145 Square Feet
0.01 Acres Lot
Built in 1977
For Sale - Active
Units n/a
Checked: 19 hours ago
Updated: May 24, 2025 at 03:16AM

Investment Summary


Monthly Cash Flow
-$1,117
Cap Rate
2.2%
Cash-on-Cash Return
-17.9%
Debt Coverage Ratio
0.35
Internal Rate of Return (5 years)
-13.3%

Property Description


0.01 Acres Lot
Built in 1977
For Sale - Active
Units n/a

Completely renovated 2 bed/2 bath, top floor condo in Wedgewood Willow. Spacious rooms with an abundance of natural light. Beautiful Mount Olympus view from the top floor covered balcony. New custom kitchen with quartz countertops, all new appliances and fixtures. New flooring throughout, all new windows and sliding glass door. New bathrooms with custom vanities and quartz counters. New interior doors and front door, new water heater, newer furnace and AC unit. Laundry hookups in unit. Close proximity to restaurants/movie theater/entertainment/freeway access. Two parking spaces (one covered). Beautiful grounds with green space and tennis court. High quality remodel, must see!

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Location


Property Details


Parking

  • Details: Covered
  • Garage Spaces: 0
  • Spaces Total: 3

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 0
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 7
  • # of Stories: 1
  • Basement Description: None

Exterior Features

  • Roof Material: Asphalt

HOA

  • Has HOA: Yes
  • HOA Fee: $230/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 1631129006
  • Lot Size: 435 sqft

Property Information

  • Property Type: Condominium
  • Style: Condo; Top Level
  • Year Built: 1977

Tax Information

  • Annual Tax: $1,710

Utilities

  • Heating: Central, Natural Gas, Forced Air
  • Cooling: Central Air

Location

  • County: Salt Lake

Listing Details


Listed by:
James Quinn
Berkshire Hathaway HomeServices Utah Properties (Salt Lake)

Source:
UtahRealEstate (Wasatch Front)
MLS#: 2074290
UtahRealEstate (Wasatch Front)

Investment Summary


Monthly Cash Flow
-$1,117
Cap Rate
2.2%
Cash-on-Cash Return
-17.9%
Debt Coverage Ratio
0.35
Internal Rate of Return (5 years)
-13.3%

Purchase Details

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Purchase price:
$324,900
Amount financed:
-$259,920
Down payment:
$64,980
Closing costs:
$9,747
Rehab costs:
$0
Initial cash invested:
$74,727
Square feet:
1,145
Cost per square foot:
$284
Monthly rent per square foot:
$1.22

Financing Details

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Loan amount:
$259,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.890%
Principal & interest:
$1,710
Property tax:
$143
Insurance:
$98
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,951

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,400 $16,800
Vacancy loss: (6%)
6% -$84 -$1,008
Operating income:
$1,316 $15,792

Operating Expenses


% Rent Monthly Yearly
Property taxes: (10%)
10%-$143-$1,710
Insurance: (7%)
7%-$98-$1,176
Property management: (8%)
8%-$112-$1,344
Repairs & maintenance: (5%)
5%-$70-$840
Capital expenditures: (5%)
5%-$70-$840
HOA fees: (16%)
16%-$230-$2,760
Total operating expenses: (52%)
52%-$723-$8,670

Cash Flow


Monthly Yearly
Net operating income:
$593 $7,116
Mortgage payments:
-$1,710 -$20,520
Cash flow:
$1,117 $13,404