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Buy a rental in South Salt Lake, 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 $385K median home market in South Salt Lake.
Nearby Coverage
South Salt Lake's rental market presents a compelling investment opportunity. With a median home price of $385,000 and median rent of $1,350/month, the gross rent multiplier sits at approximately 23.8×, meaning the purchase price represents roughly 23.8 years of gross rental income. Population growth of 2.5% annually, driven by employers like Granite School District and Central Warehouse, supports sustained rental demand. With 60% of South Salt Lake 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 South Salt Lake's appreciating market.
South Salt Lake is where the valley's urban energy concentrates at accessible prices. The State Street corridor has exploded with craft breweries (Fisher, Shades), taquerias, pho houses, and a growing coffee shop scene. TRAX gets commuters to downtown SLC in 10 minutes. Weekend activities include the People's Market (an outdoor flea/artisan market), Jordan River Parkway walks, and brewery hopping. The vibe is eclectic and unpretentious, food trucks share parking lots with auto shops, and that's the charm. The State Street food scene includes international restaurants and markets. Central Pointe area is becoming a genuine mixed-use neighborhood with increasing walkability.
Median Home Price
$385K
Median Rent
$1,350/mo
Population
26,000
Annual Growth
2.5%
Avg Days on Market
18
Owner-Occupied
40%
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: Granite School District
Notable schools: South Salt Lake Elementary, Granite Park Junior High, Granger High School
Rapidly gentrifying inner-ring suburb between downtown SLC and Murray with significant transit-oriented redevelopment.
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.
South Salt Lake is in the early-to-middle stages of a transition that includes new mixed-use development, creative business relocation, and improved streetscaping. This brings higher property values and new commercial uses, but the process is uneven, some blocks are dramatically different than they were five years ago while others remain unchanged. For investors, timing and location within South Salt Lake matter significantly. Properties near State Street and TRAX stations are appreciating fastest. The city government has expressed commitment to maintaining affordability, but market forces are strong.
Check South Salt Lake 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.
South Salt Lake has a significant inventory of duplexes, triplexes, and small apartment buildings from the 1950s–1970s. These can be strong cash-flow investments when acquired at appropriate basis and managed professionally. Value-add strategies, cosmetic renovation, improved management, and market-rate repositioning, work well here given the rent growth trajectory. Zoning in South Salt Lake is relatively investor-friendly for multi-family, and the city has not imposed the rental restrictions seen in some SLC neighborhoods. Due diligence on building systems (roof, plumbing, electrical) is critical in older stock.
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