529 S MAY DR, Cedar City, UT 84720
OLD SORREL TOWNHOMES PUD · Iron County
Key Facts
Description
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. 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 35 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, all documents for student housing lease agreements student and cleaning documents ready to go, 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. We have a well-established partially automated system in place and are happy to help new owners take over seamlessly. Whether you're looking for comfortable housing for your SUU student, 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 Information
Property Type
Residential
Sub-Type
Townhouse
Style
Townhouse; Row-mid
Year Built
2023
Stories
2
Living Area
1,400 sq ft
Lot Size
0.02 acres
Lot Dimensions
0.0x0.0x0.0
Garage Spaces
2
Parking Spaces
4
Ownership
Agent Owned
Zoning
Multi-Family
Days on Market
72
MLS® Listing#
2156355
Property Features
Interior
Appliances
Cooling
Heating
Flooring
Basement
Parking
Laundry
Roof
Windows
Security
Utilities
Schools
- Elementary:
- North
- Middle:
- Cedar Middle School
- High:
- Cedar
Financial Details
HOA
$150 / Monthly
Annual Taxes
$1,750
Parcel Number
B-1857-1044-0000
Affordability Calculator
$65,000
Estimated monthly payment
$1,730/mo
Principal $260,000 · Est. interest $362,723 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Cedar City, UT
- $658,427
- Median Listing Price
- 66
- Median Days on Market
- 2,058
- Median Sq Ft
- $326
- Median Price / Sq Ft
- 3,004
- Active Listings
- This home’s price is 51% below the area median.
- Its price per sq ft is 29% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Cedar City, UT.
Location
Points of Interest in Cedar City, UT
Showing the Cedar City area map.
Nearby Schools
Cedar Middle School
Secondary · 1.1 mi away
Iron County School District
School · 1.2 mi away
Iron Springs Elementary School
Elementary · 1.7 mi away
Seminary - the Church of Jesus Christ of Latter-Day Saints
School · 1.8 mi away
Cedar High School
Secondary · 1.9 mi away
Iron County Preschool
School · 1.9 mi away
Cedar South School
Elementary · 2.0 mi away
Suu Aviation
School · 2.1 mi away
Mountain Springs Preparatory Academy
School · 2.1 mi away
North Elementary School
Elementary · 2.2 mi away
Success Suu
Secondary · 2.2 mi away
On My Way Preschool Cedar City, Ut.
School · 2.4 mi away
Goldn Academy
School · 2.6 mi away
Cedar East School
Elementary · 2.8 mi away
Canyon View Middle School
Secondary · 3.8 mi away
Canyon View High School
Secondary · 4.0 mi away
Fiddlers Canyon School
Elementary · 4.3 mi away
Gateway Preparatory Academy
School · 6.1 mi away
Three Peaks Preschool
Elementary · 6.8 mi away
Enoch Elementary School
Elementary · 7.8 mi away
Commute Calculator
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|---|---|---|---|---|
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| 535 W 2530 N 36, Cedar City, UT | $243,000 | 3 | 2 | 1,270 |
| 535 W 2530 N Unit 36, Cedar City, UT | $243,000 | 3 | 2 | 1,270 |
| 314 S 200 E, Cedar City, UT | $245,000 | 2 | 1 | 787 |
Moving Cost Estimate
EXIT Agents in Cedar City
Listing Courtesy: Century 21 Lifestyle Real Estate - 8013181424
Last Updated: 2026-05-07