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$295,000

For Sale - Active
685 N Orem Blvd, Orem, UT 84057
2 Beds
2 Baths
963 Square Feet
0.02 Acres Lot
Built in 1998
For Sale - Active
1 Units
Checked: 1 day ago
Updated: May 28, 2025 at 08:54AM

Investment Summary


Monthly Cash Flow
-$723
Cap Rate
2.7%
Cash-on-Cash Return
-12.8%
Debt Coverage Ratio
0.48
Internal Rate of Return (5 years)
-8.4%

Property Description


0.02 Acres Lot
Built in 1998
For Sale - Active
1 Units

Great Mid level condo in Prime location in the Heart of Orem, Great access to Freeway . 2 bedrooms with 2 bathrooms. Covered parking.

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Location


Property Details


Parking

  • Description: Carport
  • Details: Covered
  • Garage Spaces: 0
  • Spaces Total: 1

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

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

Exterior Features

  • Exterior Walls Materials: Masonry
  • Roof Type: Gable
  • Roof Material: Asphalt

HOA

  • Has HOA: Yes
  • HOA Fee: $195/monthly

Land Information

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

Lot Information

  • Parcel ID: 367650032
  • Lot Size: 871 sqft

Property Information

  • Property Type: Condominium
  • Style: Condo; Middle Level
  • Year Built: 1998

Tax Information

  • Annual Tax: $1,179

Utilities

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

Location

  • County: Utah

Listing Details


Listed by:
Dwight Green
In Depth Realty
(801) 576-2564

Source:
UtahRealEstate (Wasatch Front)
MLS#: 2087484
UtahRealEstate (Wasatch Front)

Investment Summary


Monthly Cash Flow
-$723
Cap Rate
2.7%
Cash-on-Cash Return
-12.8%
Debt Coverage Ratio
0.48
Internal Rate of Return (5 years)
-8.4%

Purchase Details

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Purchase price:
$295,000
Amount financed:
-$236,000
Down payment:
$59,000
Closing costs:
$8,850
Rehab costs:
$0
Initial cash invested:
$67,850
Square feet:
963
Cost per square foot:
$306
Monthly rent per square foot:
$1.45

Financing Details

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Loan amount:
$236,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,396
Property tax:
$98
Insurance:
$98
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,592

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: (7%)
7%-$98-$1,179
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: (14%)
14%-$195-$2,340
Total operating expenses: (46%)
46%-$643-$7,719

Cash Flow


Monthly Yearly
Net operating income:
$673 $8,076
Mortgage payments:
-$1,396 -$16,752
Cash flow:
$723 $8,676