- The Canovo Report
- Posts
- Canovo Group Newsletter - May 2023
Canovo Group Newsletter - May 2023
Ogden Fourplex (8% cap), Utah Market At-a-Glance 📈
Dear ,
The Fed recently raised the Federal Funds rate by 25 BPS, crossing the 5% mark. It was something the market had been expecting, but Fed Chair Powell's comments suggesting a break in interest rate hikes make the next Fed meeting quite important. It could give us a good idea of where the Fed is heading. If the fed does indeed pause, this could lead to greater stability in the market which in-turn could lead to interest rates coming down slightly.
As for the Utah Housing Market, single family home sales are down 23% YTD and multifamily (2-4 units) are down 39% compared to last year. The Median sales price for single family is down 7.8% while the median sales price for multifamily (2-4 units) is down 14.6% YTD.
As we head into the peak leasing and sales season, we will continue to monitor the market to understand the longer-term trends and keep you posted of further developments.
If you have any questions about buying or selling investment property in Utah, you can schedule a brief strategy call with me here.
Best regards,
David Robinson
DOWNLOAD INFOGRAPHIC
Top Multifamily Listings!
Provo Fourplex - Est. Cap Rate - 6.07%
142 N 100 E Provo Utah , 84606
Built in 1916, 4 units, 4 beds, 4 baths, 2027 sqft, .19 acres, shared laundry, detached 2 car garage.
Ogden Fourplex - Est. Cap Rate - 8.16%
1134 12th St Ogden Utah , 84404
Built in 1950, 4 units, 7 beds, 5 baths, 2900 sqft, Non-conforming fourplex, legally zoned as duplex.
Salt Lake Fourplex - Est Cap Rate - 6.31%
2316 S 700 East Salt Lake City Utah , 84106
Built in 1984 4 units, 8 beds, 6 baths, 4500 sqft, .19 acres, each unit is 2 bed 1.5 baths, excellent parking.
Top Headlines, Reports, and Articles
The Break Free Real Estate Podcast!
What you may have missed this past week:
Free Investor Resources
Passive Investor Guide:
“An Introduction to Multifamily Syndications”
Jocelyn’s New Book!
“Break Free: Design a Life of Financial Freedom”
Release Date: February 10th
Cost: $1 (Kindle)
Free New Investor Guide:
“How to House Hack Your Way to Financial Freedom”
Return on Equity Calculator:
Do you have equity tied up in your investment property? Use this tool to calculate your Return on Equity in less than 5 minutes.
Let us know how we can serve you.
Copyright (C) " target="_blank">unsubscribe