ActiveResidential · sale

529 S MAY DR

Cedar City, UT 84720

$349,000

  • 3 beds
  • 2 baths
  • 1,400 sq ft
  • 0.02 acres
  • Built 2023

Listed by Century 21 Lifestyle Real Estate · MLS #2156355

529 S MAY DR, Cedar City, UT 84720 — photo 1 View full photo
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A FEW THINGS TO NOTICE

What stands out.

Year built

Built in 2023.

Garage parking

2 garage spaces listed.

Property size

0.02 acres listed.

Highlights from the listing description and property details. Confirm features with the listing agent.

THE PROPERTY

Get to know the property.

Cap rate over 5%!!! INVESTORS or parents of students headed to SUU for school, take a look! 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 20 summer bookings currently on the calendar and over 30 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.
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THE NEIGHBORHOOD

Explore the location.

529 S MAY DR, Cedar City, UT 84720

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THE DETAILS

The details, all in one place.

Property type
Residential
Category
Residential
Year built
2023
Full baths
2
Garage spaces
2
Cooling
Central Air
Heating
Forced Air,Gas: Central
Appliances
Dryer,Microwave,Range Hood,Refrigerator,Washer
Flooring
Carpet
Utilities
Natural Gas Connected,Electricity Connected,Sewer Connected,Water Connected
Accessibility
Accessible Hallway(s)
Pool
No
Spa
No
Subdivision
OLD SORREL TOWNHOMES PUD
Zoning
Multi-Family
Parcel
B-1857-1044-0000
HOA amenities
Barbecue,Maintenance,Pet Rules,Pets Permitted,Picnic Area,Playground,Trash,Water
HOA fee frequency
Monthly
Elementary school
North
Middle school
Cedar Middle School
High school
Cedar
Annual property tax
$1,750.00
HOA fee
$150.00

Features and school information are supplied by the listing source. Confirm measurements, school assignments, HOA terms and rental restrictions before making a decision.

OWNERSHIP, WITH A PLAN

Investor outlook.

Explore this property’s rental potential with an all-cash purchase. Monthly rent starts at 5% of the purchase price per year, divided by 12. Adjust it and the other assumptions to explore your scenario.

These are planning assumptions, not a rental appraisal or a loan quote. The starting rent is a price-based estimate; a local leasing professional can help confirm market rent.

Investor outlook assumes an all-cash purchase. No mortgage payment is deducted.

Estimated monthly cash flow · cash purchase$767.19
Estimated monthly rent$1,454.17
Cap rate2.89%

Annual operating income: $10,078.83

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Purchase price
Rental income & operating costs

Purchase price × 5% ÷ 12. Updates with purchase price until you enter a custom rent.

Annual insurance starts at purchase price × 0.25%, rounded to the nearest available amount. Updates with purchase price until you choose another amount.A planning estimate, not an insurance quote. Adjust it for your property and coverage.

Percentages are editable examples, not ERA fee quotes. Management is applied to rent after vacancy; maintenance and capital reserves use scheduled rent. Add owner-paid utilities, mortgage insurance and other recurring expenses under other costs.

How this scenario is calculated

Annual operating income is rent after vacancy, management, maintenance, taxes, insurance, HOA and other operating costs, before financing and capital reserves. Cap rate divides annual operating income by purchase price. Estimated monthly cash flow assumes an all-cash purchase: rent after vacancy, management, maintenance, taxes, insurance, HOA, other operating costs and capital reserves. No mortgage payment is deducted. The mortgage calculator is separate; loan payments would reduce cash flow for a financed purchase. One-time acquisition costs, renovations, income taxes, depreciation and appreciation are excluded.

Mortgage payment calculator

Explore financing separately. These loan settings do not change the all-cash investor outlook.

Mortgage assumptions

20% down and 7% interest are illustrative starting values.

Estimated monthly principal & interest—Loan payment only. Excludes property taxes, homeowners/flood insurance, mortgage insurance and HOA dues.

About this payment estimate

Based on a fixed-rate, fully amortizing loan with monthly payments and the price, down payment, interest rate and term you select. The interest rate is an example, not a current rate offer or APR; APR includes certain loan costs. This is an illustration, not a Loan Estimate, approval, offer of credit or commitment to lend.

Your actual payment, rate and eligibility depend on your lender, credit, loan program and property. Closing costs, points, prepaid expenses and lender fees are not included. Taxes and insurance may change, and mortgage insurance may be required, particularly with a down payment below 20%. Ask your lender for a Loan Estimate and a complete monthly payment including applicable taxes, insurance and fees.

Dollar results are rounded to the nearest cent; calculations retain precision until display. A cash purchase has no loan payment but still has ownership costs. Understand your total home payment (CFPB).

ERA PROPERTY MANAGEMENT

See its potential.
Have a plan for what follows.

Considering this property as a rental? Start with the numbers, then talk through the day-to-day with a local management team.

  1. Understand the opportunity.

    Review rental pricing, property condition and your ownership goals with a local professional.

  2. Make a strong first impression.

    Bring together property preparation, professional marketing and applicant screening.

  3. Stay connected to your investment.

    Get support with rent collection, resident communication, maintenance coordination and owner reporting.

Get a local rental estimateTalk through your management needs
Stone-front home with a landscaped lawn and central entry
A more complete plan for your property

LOCAL PEOPLE. SHARED COMMITMENT.

A team behind your next step.

From your first question to the everyday work of ownership, a conversation with the right person makes a difference.

Meet ERA Property Management

Residential management in Utah, Nevada and Texas. Service availability and rental eligibility must be confirmed for each property. Commercial and association services are available through our management services page.

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529 S MAY DR, Cedar City, UT 84720 · MLS #2156355

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Listing information

MLS #2156355 · Utah Real Estate MLS

Listing brokerage: Century 21 Lifestyle Real Estate
Listing agent: Jennifer Misbach

Listing status: Active. Record updated . Confirm current availability and price with the listing agent.

Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.