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Buy a rental in Salt Lake City, 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 $535K median home market in Salt Lake City.
Nearby Coverage
Salt Lake City's rental market presents a compelling investment opportunity. With a median home price of $535,000 and median rent of $1,650/month, the gross rent multiplier sits at approximately 27.0×, meaning the purchase price represents roughly 27.0 years of gross rental income. Population growth of 1.5% annually, driven by employers like University of Utah and Intermountain Health, supports sustained rental demand. With 52% of Salt Lake City 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 Salt Lake City's appreciating market.
Salt Lake City is Utah's cultural epicenter, weekend options range from skiing Alta in 35 minutes to catching a Real Salt Lake match or browsing galleries during the monthly Gallery Stroll. TRAX light rail and bus routes make car-optional living feasible downtown and in Sugar House. The dining scene spans Ethiopian on State Street, Japanese in the Avenues, and trendy brunch spots in 9th & 9th. Farmers markets run May through October. The tech sector (Overstock, Pluralsight, Recursion) and University of Utah and Intermountain Health anchor local employment.
Median Home Price
$535K
Median Rent
$1,650/mo
Population
205,000
Annual Growth
1.5%
Avg Days on Market
22
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: Salt Lake City School District
Notable schools: West High School, East High School, Highland High School
State capital situated in a wide valley between the Wasatch Mountains and Oquirrh Mountains at the south end of the Great Salt Lake.
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.
Unfurnished is standard for 12-month leases. Furnished can work for short-term corporate rentals near downtown/hospitals.
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Send details for notary, loan signing, property questions, or anything that needs a follow-up from our team.