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Investment Properties for Sale in Downey, Utah
Downey sits just across the Utah line in southern Idaho's Bannock County, about an hour and a half north of Salt Lake City on I-15 and roughly 20 minutes south of Lava Hot Springs. Utah investors keep an eye on this corridor because entry prices run substantially lower than Cache Valley or Box Elder County, property taxes are Idaho-rate rather than Utah-rate, and the rural lots are large enough to support shops, livestock, or accessory dwellings. Most of what trades here is single-family on a half-acre to several acres, older farmhouses with outbuilding potential, and the occasional small-acreage parcel that pencils as a long-term hold.
The investment thesis in Downey usually falls into one of three buckets: a buy-and-hold SFR rented to local workers commuting to Pocatello or Preston, a short-term rental playing off Downata Hot Springs and the Bannock Range recreation traffic, or a fix-and-hold on an older home with deferred maintenance and a usable shop. Cash flow tends to beat Wasatch Front comps on a percentage basis, but appreciation is slower and the tenant pool is shallower, so vacancy assumptions matter more than they do in Logan or Ogden. Note that Idaho purchase contracts and disclosure rules differ from Utah's, so confirm your agent is licensed across the border. Browse the active listings below to see what's currently on the market.
June 2026 · Downey market
Live from the Utah MLS — what's actually happening in Downey right now.
Median sale
$288,000
1 closed in June 2026
Median DOM
—
listing → contract
Sale-to-list
100.0%
of final list price
Unsold inventory
9
active + pending
1 matching · page 1 of 1
Active listings
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Common questions
About investment properties in Downey.
Where exactly is Downey, and why are Utah buyers looking there? ▾
Downey is actually just over the Utah border in Bannock County, Idaho, about 30 minutes north of Tremonton and roughly 90 minutes from downtown Salt Lake City via I-15. Utah investors look here because prices run well below Cache Valley and Box Elder County comps, while the rental pool draws from Downey, Lava Hot Springs, and commuters heading to Pocatello.
What kinds of investment properties typically come up in Downey? ▾
Inventory leans toward single-family homes on larger lots, older farmhouses with outbuildings, small acreage parcels, and the occasional duplex or short-term rental near Downata Hot Springs. True multifamily product is rare — most cash-flow plays are SFR rentals or fix-and-flip cosmetic rehabs.
Does short-term rental work in Downey? ▾
It can. Proximity to Downata Hot Springs, Lava Hot Springs (15 minutes north), and the Bannock Range pulls weekend traffic year-round, with a winter bump from snowmobilers and a summer bump from hot springs visitors. Verify county and city STR rules before underwriting an Airbnb pro forma — Bannock County regulations differ from anything in Utah.
What price range should I expect for a rental-grade single-family home? ▾
Most habitable SFRs in the Downey area trade in the $250K–$425K range depending on lot size, outbuildings, and condition. Homes with shop space or a few irrigated acres push higher. Cap rates tend to beat the Wasatch Front, but appreciation is slower and tenant pools are thinner.
Can I use a Utah-based lender and agent for a Downey purchase? ▾
You'll need an Idaho-licensed agent to write the offer, but plenty of Wasatch Front brokerages — ours included — hold dual licensure or co-broker with Idaho partners. Most national lenders fund in both states; verify your loan officer is licensed in Idaho before you go under contract.
How many investment-grade listings are usually active here? ▾
Downey is a small market — often only a handful of listings move at any given time, and investment-specific inventory may be just one or two properties. The active MLS results below reflect what's currently available; set up a saved search if nothing fits today.