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    245 N Polly Ln, Unit 2 Santaquin, UT 84655

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    For Sale
    $314,900

    Three-bedroom home with modern finishes and attached two-car garage.

    Lot size:
    0.01 Acres

    Property Features for 245 N Polly Ln

    General Information

    Lot size
    0.01 Acres
    Exterior features
    exterior_features, : ["Porch", "Natural Gas Connected", "Electricity Connected", "Sewer Connected", "Water Connected", "Asphalt"]
    Interior features
    Interior Feature 1, : "Central Air", "Interior Feature 2": ">= 95% efficiency", "Interior Feature 3": "Forced Air"

    Building Details

    Year built
    2026

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    Listing Contact
    LLC
    Source: Kw

    Listing Agency: Lennar Homes of Utah Listing Agent: LLC

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    New Santaquin Home with Garage

    This home, located in Santaquin, features 3 bedrooms, 2 bathrooms, and an attached 2-car garage. The kitchen includes stone gray craftsman-style cabinets, white quartz countertops, and stainless steel appliances, including a refrigerator. The owner's suite is located on the second floor and includes an attached bathroom. The third floor contains a laundry room, two additional bedrooms with walk-in closets, and a full secondary bathroom. Window coverings are included. The estimated completion date is in February. Square footage figures are provided as a courtesy estimate only and were obtained from the builder; independent measurement is advised. Interior photos represent the same style of home, but not the actual home. This property is suitable for investors.
    Location Intelligence

    Current Use by Public Records

    Specialty properties

    Map

    City
    Santaquin
    County
    Utah
    State
    Utah
    Longitude
    -111.738
    Latitude
    39.9332

    Nearby Similar for Sale

    • $475,000
      0.12 Acres

      Santaquin Commercial Property on Main

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      33 W Main St, Santaquin, UT 84655
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    • $449,000

      Spacious Santaquin Home with Apartment

      Santaquin home with remodeled basement apartment, rental income potential.
      692 E 180 N, Santaquin, UT 84655
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    FAQs

    What type of property is this?
    Specialty property - Three-bedroom home with modern finishes and attached two-car garage.
    Where is this specialty property located?
    The property is located at 245 N Polly Ln, Unit 2 Santaquin, UT.
    What is the asking price?
    The asking price for this property is $314,900.
    What are key features of this property?
    This property features: - Attractive financing options: 3.75% FHA 5/1 ARM or up to $15,000 towards financing through Lennar Mortgage.; - Brand new construction with estimated completion in February 2026.; - Modern kitchen featuring **stone gray craftsman-style cabinets, white quartz countertops, and stainless steel appliances (including refrigerator).**
    Request Owner's contact information
    245 N Polly Ln, Unit 2 Santaquin, UT 84655
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    Santaquin, UT 84655
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    245 N Polly Ln, Unit 2 Santaquin, UT 84655
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