Duplex with Separate Homes on One
For Sale
$425,000
230 N 2ND E, Tooele, UT 84074
MULTI_FAMILY - Other - Tooele, UT
Property Size1,450 SF
Lot Size0.15 Acres
Price / SF$293.10
Days on Market26
Property Features for 230 N 2ND E
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 4, Bedroom 3
Parking
4
Parking features
Covered
Window features
Blinds
Lot features
Road: Paved
Elementary school
Sterling
Middle school
Tooele
High school
Tooele
Elementary school district
Tooele
Middle school district
Tooele
High school district
Tooele
Subdivision
Grantsville; Tooele; Erda; StanP
Standard status
Active
APN
02-099-0-0004
Size
1,450 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
1650
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Central, Natural Gas
Amenities
private storage shed
Building Details
Year built
1950
Number of units
2
Flooring type
Carpet, Laminate, Tile
Building materials
Aluminum
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Realtypath LLC (Platinum)
(801) 386-5908
Listed By:
Mark Dunn
(435) 849-5914
Added: Jul 14
Changed: Aug 6
Last Checked: Aug 8 at 8:06AM
MLS# 2171814
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 is set up as two separate homes on one lot, offering privacy consistent with a single-family feel for each tenant. The property includes central forced-air natural gas heating and public sewer service, with an asphalt shingle roof and aluminum construction. Interior finishes include carpet, laminate, and tile flooring, and the layout provides rooms for three bedrooms across the overall configuration, including two bathrooms. Each home also includes its own private storage shed.
The front home has been updated with new flooring, baseboards and casing, interior doors, a remodeled kitchen, and an updated bathroom. The rear home has been occupied by the same long-term tenant for 11 years, and it has a fresh coat of paint and new carpet.
The property is located in Tooele, Utah and is zoned Multi-Family.
The front home has been updated with new flooring, baseboards and casing, interior doors, a remodeled kitchen, and an updated bathroom. The rear home has been occupied by the same long-term tenant for 11 years, and it has a fresh coat of paint and new carpet.
The property is located in Tooele, Utah and is zoned Multi-Family.
Key Highlights
- Two separate homes on one lot in a duplex configuration
- 0.15‑acre lot with 1,450 square feet of building area
- Zoned Multi‑Family with public sewer service
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
$15,703
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
3.69%
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%
$314,060
$314.1K
Cap Rate 7%
$224,329
$224.3K
Cap Rate 9%
$174,478
$174.5K
Market Conditions
NOI Build-Up for 1,450 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
$23.5K $16.20/SF
− Vacancy
−$1.1K −$0.73/SF
EGI
$22.4K $15.47/SF
− OpEx
−$6.7K −$4.64/SF
NOI
$15.7K $10.83/SF
Area
Tooele County, UT
Vacancy
4.50%
Lease Rate
$16.20 /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%
$314,060
Cap Rate 7%
$224,329
Cap Rate 9%
$174,478
Alternative Uses
Best Use
Multifamily LT 5
$224.3K
$196.3K – $261.7K
NOI $15,703 @ 7.0% cap · market cap 3.69%
Second Best
Apartment 5plus
$202.5K
$177.2K – $236.2K
NOI $14,174 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$390.7K
$341.8K – $455.8K
NOI $27,346 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Explore this area
Business Placement
Demographics for 84074, UT
55,001
Population
18,128
Households
3
Avg Household Size
31
Median Age
24%
College-Educated
93%
High-School Grad
174.3 sq mi
ZIP Area
316
Density / Sq Mi
$102,313
Median Household Income
$47,385
Median Earnings
$1,197
Median Rent
$383,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex on a small lot zoned multi-family with central forced-air natural gas heat and covered parking.
Where is this duplex located?
The property is located at 230 N 2ND E Tooele, UT.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two separate homes on one lot in a duplex configuration; 0.15‑acre lot with 1,450 square feet of building area; Zoned Multi‑Family with public sewer service
