Top-Floor Residential Income
New
For Sale
$299,900
949 W BIG BEN LN Unit 302, Saratoga Springs, UT 84045
Three-bedroom condominium with vaulted ceilings, mountain views, a covered deck, and access to extensive community amenities.
Property Size1,232 SF
Price / SF$243.43
Days on Market4
Property Features for 949 W BIG BEN LN Unit 302
General Information
Standard status
Active
Size
1,232 SF
Property subtype
Recreational
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Amenities
swimming pool
clubhouse
pickleball courts
playgrounds
community lake
dog parks
gazebos
walking and biking trails
open green space
private covered deck
Building Details
Building Size
1,232 SF
Year Built
2022
Listing Agency:
Lift Realty
Listed By:
Spencer Clawson · License #6608967-PB00
(801) 636-8426
Source:
Liftrealty
Added: Sep 7
Changed: Sep 9
Last Checked: Sep 9 at 3:51PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lift Realty
Investment Insights
Based on property information with market context.
This 2022-built, top-level condominium in the Wildflower community provides 1,232 square feet with three bedrooms and two bathrooms. The interior includes vaulted ceilings and an open kitchen, dining, and living arrangement. The primary bedroom has a walk-in closet and private bathroom, while a covered deck faces the mountain. A garage provides dedicated parking and storage.
Community features include a swimming pool, clubhouse, pickleball courts, playgrounds, a lake, dog parks, gazebos, and walking and biking trails. The property is located at 949 W Big Ben Ln Unit 302 in Saratoga Springs, Utah, near Wildflower Lake Park.
Community features include a swimming pool, clubhouse, pickleball courts, playgrounds, a lake, dog parks, gazebos, and walking and biking trails. The property is located at 949 W Big Ben Ln Unit 302 in Saratoga Springs, Utah, near Wildflower Lake Park.
Key Highlights
- 1,232‑square‑foot condominium with 3 bedrooms and 2 bathrooms
- Built in 2022; top‑floor location with no residence above
- Covered deck with mountain views
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,450
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$209,000
$209.0K
Cap Rate 7%
$149,286
$149.3K
Cap Rate 9%
$116,111
$116.1K
Market Conditions
NOI Build-Up for 1,232 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$20.0K $16.20/SF
− Vacancy
−$958 −$0.78/SF
EGI
$19.0K $15.42/SF
− OpEx
−$8.6K −$6.94/SF
NOI
$10.5K $8.48/SF
Area
Utah County, UT
Vacancy
4.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$209,000
Cap Rate 7%
$149,286
Cap Rate 9%
$116,111
Alternative Uses
Best Use
Apartment 5plus
$149.3K
$130.6K – $174.2K
NOI $10,450 @ 7.0% cap · market cap 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$339.6K
$297.2K – $396.2K
NOI $23,773 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
136
Businesses Nearby
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Business Placement
Demographics for 84045, UT
36,898
Population
11,273
Households
3.3
Avg Household Size
24
Median Age
52%
College-Educated
99%
High-School Grad
51.9 sq mi
ZIP Area
711
Density / Sq Mi
$123,870
Median Household Income
$48,493
Median Earnings
$2,201
Median Rent
$566,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom condominium with vaulted ceilings, mountain views, a covered deck, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 949 W BIG BEN LN Unit 302 Saratoga Springs, UT.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,232‑square‑foot condominium with 3 bedrooms and 2 bathrooms; Built in 2022; top‑floor location with no residence above; Covered deck with mountain views
