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Buy a rental in Midvale, Utah: current rents, cap rates, which neighborhoods actually cash flow, and what management costs.
Ondo pairs neighborhood-level pricing, prep, and negotiation support with the realities of a $415K median home market in Midvale.
Nearby Coverage
Midvale's rental market presents a compelling investment opportunity. With a median home price of $415,000 and median rent of $1,450/month, the gross rent multiplier sits at approximately 23.9×, meaning the purchase price represents roughly 23.9 years of gross rental income. Population growth of 2.0% annually, driven by employers like Canyons School District and Midvale City, supports sustained rental demand. With 52% of Midvale households renting, the tenant pool is established and active. We help investors identify properties that generate positive cash flow from day one and build long-term equity in Midvale's appreciating market.
Midvale's central location makes it a launching pad, TRAX to SLC for a concert, I-215 to Big Cottonwood for skiing, or I-15 south to Lehi's tech campuses, all within 20–30 minutes. Daily errands happen along 7200 South and State Street, with an increasing number of restaurants and cafes near Bingham Junction. The Jordan River Parkway passes through for cycling and running. City parks and Midvale Harvest Days in fall are on the civic calendar. Mining- and rail-era street grids sit next to Bingham Junction mixed-use, which gives the city a transitional commercial mix. Taco trucks and craft cocktail bars coexist happily.
Median Home Price
$415K
Median Rent
$1,450/mo
Population
36,000
Annual Growth
2.0%
Avg Days on Market
19
Owner-Occupied
48%
Ondo city medians as of Aug 2026 — verify. Not an MLS pull, appraisal, BPO, or CMA. Population and annual growth are approximate and are not tied to a named public source here. Check the U.S. Census Bureau for official figures.
We define your target returns, budget, preferred property type, and management expectations. Whether you're buying your first rental or adding to a portfolio, we tailor the search to your investment thesis.
For every property we present, you get a cash flow analysis including purchase price, down payment, financing costs, projected rent, operating expenses (vacancy, maintenance, insurance, taxes, management), and net yield. No surprises.
Once you close, our property management team takes over: marketing, tenant placement, rent collection, maintenance, and reporting. You get passive income without the daily operational burden.
School District: Canyons School District
Notable schools: Hillcrest High School, Midvale Middle School, Midvale Elementary
Centrally located in the valley with TRAX light rail and I-15 access, undergoing revitalization near the old smelter site.
Outdoor Activities
Local Landmarks
Returns vary by property, financing, and management approach. In the current market, cash-on-cash returns for a well-purchased rental property typically range from 4–8% before appreciation. Cap rates for single-family rentals generally run 4–6%. Total returns including appreciation, principal paydown, and tax benefits can exceed 12–15% annually. We provide property-specific pro forma analysis so you know exactly what to expect before making an offer.
Investment property loans typically require 15–25% down for a single-family rental and 25% for 2–4 unit properties. Some portfolio lenders offer 10% down for strong borrowers. DSCR (debt service coverage ratio) loans are available for investors who prefer to qualify based on the property's rental income rather than personal income. We help you structure financing that preserves capital for multiple acquisitions.
It depends on your time, proximity, and number of properties. Self-management saves the management fee (typically 8–10% of rent) but requires you to handle tenant calls, maintenance coordination, rent collection, and legal compliance. As your portfolio grows past 2–3 units, the time investment usually exceeds the management fee savings. Our property management service handles everything from day one.
A 1031 exchange lets you defer capital gains taxes when you sell an investment property and reinvest the proceeds into a like-kind replacement property. Strict timelines apply: 45 days to identify replacement properties and 180 days to close. We coordinate with qualified intermediaries and help you identify replacement properties that improve your portfolio's cash flow and appreciation potential.
Midvale's redevelopment, particularly Bingham Junction and other mixed-use projects, is gradually lifting property values across the city. The pattern is similar to South Salt Lake's evolution, new commercial and residential development can lift surrounding property values. Existing single-family homes in stable neighborhoods benefit from the improving city identity without being directly displaced. Investors who positioned early in this cycle have seen strong appreciation, and the trajectory appears sustainable given the city's transit advantages and central location.
Three TRAX stations give Midvale exceptional transit connectivity, tenants can reach downtown SLC in 20 minutes, the University of Utah in 25 minutes, or Sandy in 10 minutes without a car. This expands the applicant pool to households that want a car-light commute. Properties within a 10-minute walk of TRAX stations often command rent premiums of $75–$150/month and experience faster lease-up.
Check Midvale Police, Utah DPS, and published neighborhood-level dashboards for the specific block, and compare several recent years rather than a city-wide headline. Lighting, locks, and cameras are operational items we can address; they are not a substitute for current public data.
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