Fed Set to Cut Rate Today

SLC fourplex sells for $175k per unit; Mortgage rates hit lowest level since end of 2022

Author

David Robinson
September 17, 2025

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Rare 8-Plex Investment Gem! An amazing opportunity that truly embodies "location, location, location." This property makes it easy to attract and keep quality tenants. Each unit features 2 bedrooms, 1 Jack & Jill bath, a spacious living room, large kitchen, laundry room, and patio storage. Property offers open green space and covered parking. Close to all the city has to offer, including ski resorts, schools, parks, shopping, dining, and public transit.

Legal Duplex in the Heart of Provo – DT1 Zoning – Location doesn't get better than this! This legal duplex is just 1 block south of the Provo City Center Temple and 3 blocks from Downtown Provo's shopping, dining, and entertainment, this duplex offers unmatched convenience. Enjoy excellent access to transit-only 1 block from the UVX bus stop (direct to BYU, UVU, and the entire Provo/Orem area), 3 blocks from the FrontRunner station, 3 minutes from I-15, and just 1 mile south of BYU campus. Parking lot in rear provides ample off-street parking.

4-plex with great stable tenants, plenty of parking, and a fantastic location. Inclusions: 4 refrigerators, 4 ranges, 1 washer Exclusions: Tenant-owned Washers and Dryers from Units A, B, and D

Prime Downtown 4-Plex Investment Opportunity Don't miss this well-maintained and recently refurbished downtown 4-plex-the lowest-priced east-side 4-plex in Salt Lake County! Each of the four studio units offers easy, quick rental potential in a highly desirable neighborhood. Recent updates within the past 5 years include: Modern Kitchens Updated Baths with New Tub Surrounds Durable LVP Flooring Fresh Paint Throughout Updated Lighting Fixtures Additional highlights: 6 off-street parking spaces in a newly refreshed lot Strong curb appeal with inviting exterior Clean, move-in ready units designed for comfortable living This is a rare chance to own a turnkey multi-family property in one of Salt Lake's most sought-after locations.

Although presently rented as apartments, units were constructed as condo units with individual parcel ID numbers. 20 separate units, each with: 3 bedrooms, 1 bathroom Individual ownership potential - units are structurally and legally set up for separate condominium conversion. Distinct utilities per unit for seamless transition to individual ownership or rentals. In-unit laundry hookups (washer and dryer ready). Central heating and air conditioning for tenant comfort. Dual parking: one covered and one uncovered stall per unit.

Canovo Group may not be the listing brokerage for the above properties. The information provided is not guaranteed and should not be relied upon to make investment decisions. Buyers should complete their own analysis and due diligence before making any investment.

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> Utah Market Data

> Rates & Financing

Mortgage Rates as of 9/17/2025

> Headlines & Insights

Utah Headlines

Affordable Housing in Summit County — Ivory Innovations, in partnership with Ivory Homes, the City of Francis, and the Call to Action Foundation, opened Innovation Park at Francis Commons, a 157-townhome community aimed at essential workers priced out of Utah’s most expensive housing market. With Summit County’s median home price above $1.6M, these income-restricted townhomes are priced 40% below market, saving residents up to $16,000 annually. The project supports Governor Cox’s goal of 35,000 starter homes statewide and offers a replicable model for other high-cost rural communities.

West Weber’s Mega-Project — Developers plan Westbridge Meadows, a 1,415-acre master-planned community west of Ogden with up to 13,200 homes and 38,000 residents over decades, likened to Daybreak or Vineyard. The project includes housing for all income levels, parks, trails, commercial space, and potential transit stops, but infrastructure needs mean construction may be years away.

National Headlines

Fed Cut in Focus — Treasury yields held mostly steady Wednesday as investors waited for the Federal Reserve’s policy decision. Markets expect a quarter-point cut to the benchmark rate, with some hoping for a larger move to counter slowing job growth and sticky inflation. The Fed’s updated projections and Powell’s press conference will set the tone for the next year, with housing data like building permits and starts also drawing investor attention.

Mortgage Rates Hit 3-Year Low — The average 30-year fixed mortgage dropped to 6.13%, the lowest since late 2022, as investors positioned ahead of the Fed’s expected rate cut. While markets anticipate a quarter-point reduction, some experts warn rates could paradoxically rise after the announcement, echoing past cycles. For now, the dip offers short-term relief for buyers and investors, but long-term borrowing costs may not fall much further.

Rust Belt Rent Surge — Rent growth is shifting away from the Sunbelt, with Rust Belt and Northeast cities like Augusta, Syracuse, and Youngstown projected to lead the nation at 5%+ annually, while oversupplied markets like Salt Lake City, Austin, and Seattle are expected to lag at just 2.5%–2.8%.

Apartment Loan Stress — Apartment CMBS delinquencies surged to 6.9% in August, the highest in nine years, up sharply from 3.3% a year ago. Despite rising distress, REIT executives say few discounted properties are hitting the market as lenders continue extending borrowers and transaction volumes remain low.

David Robinson

Principal Broker/Owner

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