Duplex Property with Detached
For Sale
$550,000
113 E WILSON Ave, Salt Lake City, UT 84115
Residential, Salt Lake City, UT
Property Size2,400 SF
Lot Size0.23 Acres
Price / SF$229.17
Days on Market43
Property Features for 113 E WILSON Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Single-Family
Zoning description
1105
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1
Parking
10
Parking features
Open, Workshop, Heated, RV, Secured
Patio and Porch features
Deck, Patio
Interior features
Disposal, Kitchen: Updated
Exterior features
Basement Entrance, Deck; Covered, Double Pane Windows, Horse Property, Out Buildings, Lighting, Patio: Covered, Secured Parking
Subdivision
PARK
Lot features
Curb & Gutter, Fenced: Full, Sidewalks, Sprinkler: Auto- Part
Elementary school
Whittier
Middle school
Hillside
High school
Highland
Elementary school district
Salt Lake
Middle school district
Salt Lake
High school district
Salt Lake
Standard status
Active
APN
16-18-304-005
Size
2,400 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
2646
Utilities
Sewer type
Private Sewer
Heating system
Central, Forced Air, Natural Gas
Amenities
covered front porch
hot tub
pergola
fenced yard
solar panels
Building Details
Year built
1915
Number of units
2
Flooring type
Carpet, Laminate
Building materials
Aluminum
Roof type
Asphalt
Architectural style
Other
Additional Structures
Workshop
Listing Agency:
Ulrich REALTORS, Inc.
(801) 733-6555
Listed By:
Mike Ulrich
(801) 898-1699
Added: Aug 15
Changed: Sep 24
Last Checked: Sep 26 at 9:06AM
MLS# 2179160
Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex property offers approximately 2,400 square feet on a 0.23-acre lot, with three bedrooms and two bathrooms. Interior features include an updated kitchen with stainless steel appliances, a large pantry, laminate and carpet flooring, central forced-air heating, and a newer water heater. The home also includes a large primary bedroom with double closets, a covered front porch, and a covered patio with a hot tub.
The oversized garage is approximately 4-car wide and 8 feet tall, with extra depth, its own heating system and thermostat, an office area, work benches, and 220 power. A 400-square-foot detached ADU is built but unfinished. The ADU has a separate power meter, a sewer line stub, and partially started electrical work; construction materials and equipment are included. Paid-off solar panels, a fenced yard, driveway, covered pergola, and secured parking further support the property’s utility. Zoning is Single-Family.
The oversized garage is approximately 4-car wide and 8 feet tall, with extra depth, its own heating system and thermostat, an office area, work benches, and 220 power. A 400-square-foot detached ADU is built but unfinished. The ADU has a separate power meter, a sewer line stub, and partially started electrical work; construction materials and equipment are included. Paid-off solar panels, a fenced yard, driveway, covered pergola, and secured parking further support the property’s utility. Zoning is Single-Family.
Key Highlights
- Approximately 2,400 square feet on a 0.23‑acre lot
- 400‑square‑foot detached ADU is built but unfinished
- Extra‑deep garage is approximately 4‑car wide with 8 ft tall door
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,006
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$640,120
$640.1K
Cap Rate 7%
$457,229
$457.2K
Cap Rate 9%
$355,622
$355.6K
Market Conditions
NOI Build-Up for 2,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.4K $20.16/SF
− Vacancy
−$2.7K −$1.11/SF
EGI
$45.7K $19.05/SF
− OpEx
−$13.7K −$5.72/SF
NOI
$32.0K $13.34/SF
Area
Salt Lake City, UT
Vacancy
5.50%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$640,120
Cap Rate 7%
$457,229
Cap Rate 9%
$355,622
Alternative Uses
Best Use
Multifamily LT 5
$457.2K
$400.1K – $533.4K
NOI $32,006 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$424.7K
$371.7K – $495.5K
NOI $29,732 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$646.6K
$565.8K – $754.4K
NOI $45,262 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,494
Businesses Nearby
Explore this area
Business Placement
Demographics for 84115, UT
27,588
Population
13,899
Households
2
Avg Household Size
33
Median Age
33%
College-Educated
85%
High-School Grad
6.1 sq mi
ZIP Area
4,523
Density / Sq Mi
$61,505
Median Household Income
$43,785
Median Earnings
$1,263
Median Rent
$396,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated kitchen, expansive garage, covered outdoor areas, and a partially completed detached ADU add functional flexibility.
Where is this duplex located?
The property is located at 113 E WILSON Ave Salt Lake City, UT.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Approximately 2,400 square feet on a 0.23‑acre lot; 400‑square‑foot detached ADU is built but unfinished; Extra‑deep garage is approximately 4‑car wide with 8 ft tall door
