529 S MAY DR
Cedar City, UT 84720
About
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.
Property
Beds
3
Full Baths
2
1/2 Baths
None
Year Built
2023
Sq.Footage
1,400
Features
Features & Amenities
Interior
-
Other Interior Features
Walk-In Closet(s)
-
Total Bedrooms
3
-
Bathrooms
2
-
Basement YN
NO
-
Cooling YN
YES
-
Cooling
Central Air
-
Fireplace YN
NO
-
Heating YN
YES
-
Heating
Central, Natural Gas, Forced Air
-
Pet friendly
N/A
Exterior
-
Garage
Yes
-
Garage spaces
2
-
Parking
Attached, Garage
-
Pool
No
-
Waterfront YN
NO
-
View
Mountain(s)
Area & Lot
-
Lot Size(acres)
0.02
-
Lot Size(square feet)
871.2
-
Property Type
Residential
-
Property Sub Type
Townhouse
-
Architectural Style
Townhouse; Row-mid
Price
-
Sales Price
$349,000
-
Tax Amount
$1,750
-
Zoning
R-3
-
Sq. Footage
1, 400
-
Price/SqFt
$249
HOA
-
Association
YES
-
Association Fee
$150
-
Association Fee Frequency
Monthly
-
Association Fee Includes
N/A
School District
-
Elementary School
Iron
-
Middle School
Cedar Middle School
-
High School
Cedar
Property Features
-
New Construction
NO
-
Accessibility Features
Accessible Hallway(s)
-
Association Amenities
Barbecue, Maintenance, Picnic Area, Playground, Trash, Water
-
Senior Community YN
NO
Schedule
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Location
-
County
Iron
-
Elementary School
Iron
-
Middle School
Cedar Middle School
-
High School
Cedar
Listing Courtesy of Jennifer Misbach , Century 21 Lifestyle Real Estate
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Rusty Dog
HR Manager
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