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Is 283 Apple Cross Way in Murray, Utah a good investment property?

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by

danny done
in

Deep assessment of 283 Apple Cross Way in Murray, Utah: recent sale history, current value estimates, rental potential, neighborhood trends, school insights, and investment pros and cons.

Comprehensive Investment Analysis

Property Snapshot

  • Location & Type: A townhouse/condo-style property in the Murray/Salt Lake City border, ZIP 84107, built in 2005.

  • Size & Features: Approximately 1,764 sq ft, with 3 bedrooms and 3 bathrooms (or alternately reported as 2 baths) across two stories, including a full basement and mixed heating/cooling systems.

  • Parking: Includes two parking spaces (one covered, one open) .

  • Lot Size: Around 871 sq ft .

Recent Sales & Valuation

  • Sold Price (Dec 2023): Closed around $405,000 .

  • Listing History: Listed at $405,000 in early November 2023, with backup and final sale confirmed late November/December .

  • Current Estimated Market Value:

    • Redfin: ~$411,768 Redfin.

    • Trulia: ~$422,400 as of August 23, 2025 .

    • Homesnap: $410,650 ($232 per square foot).

    • Movoto: $386,867 (range $347K–$425K), notably below local median listing prices ($554K in Murray North).

Rental Income Potential

  • Zillow Rent Estimate: ~$2,097/month.

  • Redfin Rental Estimate: ~$2,524/month.

  • Movoto: ~$2,351/month.

Neighborhood Trends & Comparables

Nearby similar properties estimate as follows:

  • 279 W Apple Cross Way: ~$414K

  • 266 W Apple Cross Way: ~$411K

  • 289 W Apple Cross Way: ~$397K

  • 284 W Apple Cross Way: ~$392K

Murray North’s median listing price (~$554K) significantly exceeds this property’s valuation, indicating it may currently be priced under market average

Schools & Community Insights

  • Schools in the Vicinity:

    • Horizon Elementary (K-6): 7/10 rating

    • Hillcrest Jr. High (7-9): 6/10

    • Murray High (10-12): 5/10

  • Local Feedback: Residents praise walkability, friendly neighbors, and community spirit, though some concerns around Jr. High academic performance surfaced Trulia Real Estate Search.

Key Investment Considerations (Mid-Content Highlights)

  • Current Valuations Show Upside: With estimates between $410K–$422K, the property trades below neighborhood median, implying potential for value appreciation.

  • Strong Rental Prospects: Monthly rent estimates ($2K–$2.5K) suggest solid gross yield.

  • Well-Established Location: Murray offers stable demand, with schools rated mid-range and local amenities enhancing tenant or resale appeal.

  • Recent Sale Data Offers Market Clarity: December 2023 sale at $405K anchors analysis and aligns with current estimates.

Pros and Cons

Pros Cons
Below-market purchase price relative to area median Middle-tier school ratings may deter some buyers or renters
Attractive size and layout for families or roommates HOA policies or fees (not detailed) could impact net return
Strong rental rates support positive cash flow Potential competition—other nearby homes priced similarly
Recent sale data offers transparent valuation baseline Market shifts (rates, economy) could affect future gains

Property Overview

Market Insights

 

Is It a Good Investment?

Overall, 283 Apple Cross Way appears favorable for investment, offering:

  • Strong value-offering: Under-median purchase cost in a desirable zone.

  • Good rental upside: Expected rents support attractive returns.

  • Solid fundamentals: Stable neighborhood, active sales, and reputable amenities.

As with any real estate opportunity, success depends on financing costs, property management efficiency, and long-term appreciation potential. I recommend conducting a detailed cash-flow analysis, including purchase price, mortgage terms, taxes (estimated ~$1.6K–$1.7K/year), insurance, and maintenance expenses. Also weigh any HOA specifics and consult local real estate professionals for further market context.

Explore the details of 283 W Apple Cross Way S in Salt Lake City, UT 84107. A 3-bed, 2-bath, 1,764 sq ft home built in 2005, with a Trulia estimate of $422,400 as of August 2025. Learn about pricing history, nearby listings, schools, and investment potential.

Property Overview

Address: 283 W Apple Cross Way S, Salt Lake City, UT 84107
Bedrooms: 3
Bathrooms: 2
Living Area: 1,764 sq ft
Year Built: 2005
Estimated Value (Trulia, Aug 23, 2025): $422,400
Last Sold: December 20, 2023 for $405,000 (below the $430,000 listing price)

This home combines modern comfort with a convenient Murray/Salt Lake City location. Built in 2005, it offers a functional floor plan designed for today’s lifestyle. With mid-sized square footage, natural gas heating, and central cooling, the property balances efficiency with livability.

Price & Value History

  • Listed: $430,000 on Sept 23, 2024

  • Listing Removed: Nov 22, 2024

  • Last Sold: $405,000 on Dec 20, 2023

  • Current Trulia Estimate (Aug 2025): $422,400

This places the home 18% below the median home value in the 84107 ZIP code ($496,366), making it potentially attractive for buyers seeking value relative to the local market.

Key Highlights (Mid-Content Focus)

  • 3 bedrooms, 2 baths, 1,764 sq ft – practical size for small families or investors.

  • 2005 construction – newer than many homes in the area, offering updated systems.

  • Trulia Estimate $422,400 – showing steady appreciation from the 2023 sale.

  • 18% below area median value – opportunity for equity growth.

  • Refinance Estimate: ~$2,396/mo (subject to lender terms).

Comparable Homes For Sale Nearby

Several active listings nearby highlight where this property sits in the market:

  • 6 W Miller St S, Salt Lake City, UT 84107 – $575,000 | 5 bd | 2 ba | 2,050 sq ft

  • 179 E Mountain View Dr, Murray, UT 84107 – $495,000 | 3 bd | 2 ba | 1,782 sq ft

  • 710 W Vine St, Murray, UT 84123 – $595,000 | 4 bd | 2 ba | 2,055 sq ft

  • 289 E 4800 S, Salt Lake City, UT 84107 – $499,999 | 4 bd | 2 ba | 1,932 sq ft

Compared to these listings, 283 W Apple Cross Way S is smaller but priced significantly lower, supporting its value appeal.

Schools & Community

Assigned schools include:

  • Horizon Elementary (K-6): 7/10 rating

  • Hillcrest Jr. High (7-9): 6/10 rating – parents note concerns with testing performance.

  • Murray High (10-12): 5/10 rating – strong community feel, long-term family presence.

Families moving into this neighborhood benefit from proximity to Murray’s community programs and nearby shopping, though some parents may prefer alternative schools.

Market Trends & Rental Potential

  • Local Median Value (84107): $496,366

  • This Home: $422,400 (below median, potential growth upside)

  • Rental Range Nearby: ~$2,100 – $2,500/month for similar homes

With its size and location, 283 W Apple Cross Way S could generate competitive rental income while continuing to appreciate in line with the Murray real estate market.

Investment Outlook

Pros:

  • Priced below local median values.

  • Rental income potential around $2,300/month.

  • Convenient location near Murray amenities.

  • Built in 2005, newer construction compared to older inventory.

Cons:

  • School ratings are mixed, which may affect some buyers.

  • The property is currently off-market, meaning limited immediate purchase opportunities.

  • HOA details are not publicly available, which could influence costs.

Conclusion

283 W Apple Cross Way S, Salt Lake City, UT 84107 represents a solid mid-range home with both owner-occupant and investor potential. Its below-median pricing, steady appreciation since 2023, and rental strength make it worth watching for buyers in the Murray market. While currently off-market, its balance of affordability and growth potential suggests it could be a smart addition to a real estate portfolio once re-listed.

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