Park Meadows

Park Meadows runs along Kearns Boulevard and Bonanza Drive between Old Town and the Snyderville Basin, its identity tied to a public golf course rather than a lift line. Files from here look different from Main Street files: the asset is almost always a long-term-lease single-family home or townhome, not a nightly-rental unit. The neighborhood sits close enough to walk into Old Town on a summer evening, yet its pricing and tenant base behave more like a conventional residential submarket than a resort one.

A Park Meadows relinquished property is typically a single-family rental or a small townhome purchased as a straightforward long-term hold. The exchange scope is simpler than a resort-condo file in one respect, there is usually no nightly-rental registration or transient-tax question to resolve, but it still requires proving the property was held for investment rather than personal use, particularly if the owner or a family member has ever occupied it.

Golf-course proximity and access to Round Valley's trail network add value that a straight rent-roll comparison will not fully capture, so the file should note those features as context for the appraisal rather than substitute for it. A home backing the fairway typically commands a premium over an otherwise identical unit on the interior of the subdivision, and the file should quantify that premium from actual closed sales rather than a broker's general impression.

Because much of the corridor is owner-occupied alongside the rentals, comparable inventory can be thinner than in a neighborhood built primarily for investment product. The search should start earlier than a 45-day window might otherwise require, given how few true investment-grade comparables turn over in a given quarter.

Before any candidate is added to the identification notice, the file should include:

• lease history and tenant payment record for the relinquished home
• documentation separating any personal or family use from the rental history
• property tax and assessment history for the relinquished parcel
• comparable sales limited to in-town single-family and townhome product
• HOA documents if the candidate is part of a townhome association
• inspection report addressing age and condition of mechanical systems

Does a Park Meadows home need to be actively rented on the day of sale to qualify for a 1031 exchange?

The property needs a genuine investment-use history; it does not need an active tenant on closing day. The file should document the rental history and, if the unit is temporarily vacant, the marketing effort to re-lease it, so investment intent is clear to the qualified intermediary and tax advisor.

How does golf-course proximity affect the START EXCHANGE REVIEW?

It affects value and buyer interest but is not a like-kind factor. The START EXCHANGE REVIEW should focus on comparable lease income, management intensity, and asset condition; location amenities are useful context for the appraisal, not a substitute for financial comparability.

What if the relinquished home was occupied by a family member at reduced rent?

That history should be disclosed and reviewed with the tax advisor, since below-market family occupancy can undercut the investment-use argument. The file should document actual rent collected and any period of true market-rate leasing separately.

Why does the file separate list prices from closed sales for comparables?

Park Meadows inventory moves more slowly than in-town product, so list prices can sit unchallenged for months. Closed-sale data gives a more reliable basis for the value comparison the identification notice depends on.

Is a townhome in a Park Meadows association treated differently from a detached home?

Both qualify as like-kind real property, but a townhome candidate adds an HOA diligence layer, financials, reserve study, and any pending special assessments, that a detached single-family replacement does not carry.