bds
|
ba
|
sqft
ac lot
|
car garage
|
|
Investment Properties for Sale in Ephraim, Utah
Ephraim sits in the middle of Sanpete Valley about two hours south of Salt Lake City, and its rental market runs on a single dominant engine: Snow College. The two-year school anchors the town's economy and creates consistent tenant demand from students, faculty, and the support workforce that follows a college of this size. That dynamic makes Ephraim one of the more predictable small-market rental plays in central Utah, with lower entry prices than St. George or the Wasatch Front and rents that have climbed alongside Utah's broader housing run-up. Investors here are typically buying single-family homes within walking distance of campus, older duplexes along Main Street and 100 South, or newer builds on the west side that pencil out as long-term rentals.
The trade-offs are real and worth understanding before you write an offer. Appreciation tends to lag I-15 corridor markets, the tenant pool is heavily seasonal around the academic calendar, and short-term rental zoning is restrictive compared to tourist towns like Moab or Kanab. On the other hand, property taxes through Sanpete County are modest, insurance is cheap, and management is straightforward if you have boots on the ground locally or use one of the Manti-Ephraim property managers who specialize in student housing. Cash-on-cash returns generally beat what's available in Utah County for comparable price points. Browse the active investment-grade listings below to see what's currently on the Ephraim market.
May 2026 · Ephraim market
Live from the Utah MLS — what's actually happening in Ephraim right now.
Median sale
$437,000
4 closed in May 2026
Median DOM
15 days
listing → contract
Sale-to-list
97.3%
of final list price
Unsold inventory
33
active + pending
10 matching · page 1 of 1
Active listings
Prefer the map?
See all 10 investment properties on a map
Pan around Ephraim and refine by drawing your own boundary.
Common questions
About investment properties in Ephraim.
What makes Ephraim a viable rental market? ▾
Snow College drives most of the rental demand. The school enrolls roughly 5,500 students, and on-campus housing only covers a fraction of them, so private landlords fill the gap with single-family rentals, duplexes, and converted basement apartments. Demand is steady from August through May, with a softer summer when many students go home.
What kind of rents can investors expect? ▾
As of recent comps, a 3-bed single-family rents in the $1,400-$1,800 range, while by-the-room student rentals can push gross rents higher on a per-door basis. Duplexes near campus (south side of town, along 100 South and 400 South) tend to lease fastest and command the strongest per-square-foot numbers.
Are short-term rentals allowed in Ephraim? ▾
Ephraim City requires a business license for nightly rentals and enforces zoning rules that restrict STRs in many residential zones. Most investor activity here is long-term or by-the-semester student housing rather than Airbnb. Check directly with Ephraim City Planning before underwriting an STR strategy.
How do property taxes and insurance compare to the Wasatch Front? ▾
Sanpete County property tax rates run lower than Utah County or Salt Lake County, which helps cash flow. Insurance is also reasonable since Ephraim sits outside high wildfire and flood overlays. The trade-off is slower appreciation than I-15 corridor markets.
What price points do investment properties typically hit? ▾
Entry-level single-family rentals in Ephraim generally trade between the high $200s and low $400s depending on bed count, condition, and proximity to Snow College. Small multifamily (duplex to fourplex) is thinner inventory and usually prices on a cap-rate basis rather than comps.
Is the rental market seasonal because of Snow College? ▾
Yes. Most student leases run August to May, and vacancy risk concentrates in summer. Experienced Ephraim landlords either write 12-month leases tied to the academic year, prorate summer rent, or target faculty and local workforce tenants for year-round occupancy.