Duplex with New
For Sale
$720,000
3366 S 700 E, Salt Lake City, UT 84106
Residential, Salt Lake City, UT
Property Size2,200 SF
Lot Size0.18 Acres
Price / SF$327.27
Days on Market293
Property Features for 3366 S 700 E
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Zoning description
1108
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 4, Bathroom 2
Parking
10
Parking features
Covered
Window features
Blinds
Patio and Porch features
Porch, Patio
Interior features
Disposal, Range/Oven: Free Stdng., Vaulted Ceilings, Dishwasher: Built-In
Exterior features
Double Pane Windows, Porch: Open, Skylights, Sliding Glass Doors, Patio: Open
Subdivision
BIG FIELD SUR
Lot features
Fenced: Part, Secluded, Sidewalks, Private
Elementary school
Lincoln
Middle school
Granite Park
High school
Cottonwood
Elementary school district
Granite
Middle school district
Granite
High school district
Granite
Standard status
Active
APN
16-29-352-008
Size
2,200 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
2500
Utilities
Heating system
Forced Air, Central, Natural Gas
Building Details
Year built
1960
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Brick, Cinder Block, Composition
Roof type
Membrane
Architectural style
Other
Listing Agency:
Equity Real Estate (Results)
(801) 610-9394
Listed By:
Shantell Douros
(800) 785-9995
Added: Nov 3, 2025
Changed: Aug 20
Last Checked: Aug 23 at 3:06AM
MLS# 2121046
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Investment Insights
Based on property information with market context.
This Salt Lake City duplex contains two residential units totaling 2,200 square feet on a 0.18-acre lot. Both units feature open floor plans, solid-surface countertops, stainless steel appliances, hardwood and tile flooring, and washer and dryer hookups. One unit includes a washer and dryer. A new roof was installed across the building within the last 6 months. Additional features include vaulted ceilings, double-pane windows, skylights, open patio and porch areas, covered parking, and forced-air central heating powered by natural gas.
The property is zoned Multi-Family and is located near Nibley Park, with Sugar House also identified as nearby for dining and entertainment. A vinyl fence divides the two yards, providing separate outdoor areas for each unit. Both units are occupied by renters with leases in place.
The property is zoned Multi-Family and is located near Nibley Park, with Sugar House also identified as nearby for dining and entertainment. A vinyl fence divides the two yards, providing separate outdoor areas for each unit. Both units are occupied by renters with leases in place.
Key Highlights
- Two‑unit duplex with 2,200 square feet on a 0.18‑acre lot
- New roof installed on the entire building within the last 6 months
- Both units have renters with leases in place
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
$29,339
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
4.07%
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%
$586,780
$586.8K
Cap Rate 7%
$419,129
$419.1K
Cap Rate 9%
$325,989
$326.0K
Market Conditions
NOI Build-Up for 2,200 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
$44.4K $20.16/SF
− Vacancy
−$2.4K −$1.11/SF
EGI
$41.9K $19.05/SF
− OpEx
−$12.6K −$5.72/SF
NOI
$29.3K $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%
$586,780
Cap Rate 7%
$419,129
Cap Rate 9%
$325,989
Alternative Uses
Best Use
Multifamily LT 5
$419.1K
$366.7K – $489.0K
NOI $29,339 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$389.4K
$340.7K – $454.3K
NOI $27,255 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$592.7K
$518.6K – $691.5K
NOI $41,490 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
843
Businesses Nearby
Explore this area
Business Placement
Demographics for 84106, UT
35,892
Population
16,782
Households
2.1
Avg Household Size
35
Median Age
57%
College-Educated
97%
High-School Grad
6.0 sq mi
ZIP Area
5,982
Density / Sq Mi
$94,452
Median Household Income
$56,358
Median Earnings
$1,576
Median Rent
$529,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each unit includes an open layout, solid-surface counters, and stainless steel appliances.
Where is this duplex located?
The property is located at 3366 S 700 E Salt Lake City, UT.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,200 square feet on a 0.18‑acre lot; New roof installed on the entire building within the last 6 months; Both units have renters with leases in place
