Duplex with Basement
For Sale
$499,900
644 S GRAND E, Salt Lake City, UT 84102
Residential, Salt Lake City, UT
Property Size1,344 SF
Lot Size0.10 Acres
Price / SF$371.95
Days on Market74
Property Features for 644 S GRAND E
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Basement, Bathroom 1, Bedroom 1, Bedroom 2
Parking features
Covered
Patio and Porch features
Porch
Interior features
Basement Apartment, Range: Gas, Range/Oven: Free Stdng.
Exterior features
Double Pane Windows, Lighting, Porch: Open, Walkout
Lot features
Fenced: Part, Road: Paved, Secluded, Terrain: Hilly
Elementary school
Bennion (M Lynn)
Middle school
Bryant
High school
East
Elementary school district
Salt Lake
Middle school district
Salt Lake
High school district
Salt Lake
Subdivision
Salt Lake City; So. Salt Lake
Standard status
Active
APN
16-05-384-008
Size
1,344 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
1885
Utilities
Heating system
Central, Natural Gas
Amenities
washer/dryer
Building Details
Year built
1948
Number of units
2
Flooring type
Tile, Carpet, Hardwood
Building materials
Cedar, Frame
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Urban Utah Homes & Estates, LLC
(801) 595-8824
Listed By:
Babs De Lay
(801) 201-8824
Added: Jun 23
Changed: Sep 2
Last Checked: Sep 4 at 11:06AM
MLS# 2167448
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 1,344-square-foot duplex was built in 1948 and includes a main residence with a basement apartment. The lower unit has a separate entrance, and each unit has its own washer/dryer, stove, and refrigerator. A single meter and thermostat serve both units. Interior features include hardwood, carpet, tile, double-pane windows, central natural gas heating, and an open porch. Covered parking is also provided.
The property occupies 0.1 acres in Salt Lake City, just below the University of Utah, with access to bus routes and a TRAX stop. Zoned Multi-Family, the home has been used as a rental for decades and includes a secluded lot extending behind the residence.
The property occupies 0.1 acres in Salt Lake City, just below the University of Utah, with access to bus routes and a TRAX stop. Zoned Multi-Family, the home has been used as a rental for decades and includes a secluded lot extending behind the residence.
Key Highlights
- 1,344‑square‑foot duplex built in 1948
- Basement apartment with separate entrance
- Each unit has its own washer/dryer
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
$17,923
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
3.59%
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%
$358,460
$358.5K
Cap Rate 7%
$256,043
$256.0K
Cap Rate 9%
$199,144
$199.1K
Market Conditions
NOI Build-Up for 1,344 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
$27.1K $20.16/SF
− Vacancy
−$1.5K −$1.11/SF
EGI
$25.6K $19.05/SF
− OpEx
−$7.7K −$5.72/SF
NOI
$17.9K $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%
$358,460
Cap Rate 7%
$256,043
Cap Rate 9%
$199,144
Alternative Uses
Best Use
Multifamily LT 5
$256.0K
$224.0K – $298.7K
NOI $17,923 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$237.9K
$208.1K – $277.5K
NOI $16,650 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$362.1K
$316.8K – $422.5K
NOI $25,347 @ 7.0% cap · market cap 5.07%
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
1,679
Businesses Nearby
Explore this area
Business Placement
Demographics for 84102, UT
18,857
Population
11,348
Households
1.7
Avg Household Size
29
Median Age
56%
College-Educated
94%
High-School Grad
1.9 sq mi
ZIP Area
9,925
Density / Sq Mi
$50,040
Median Household Income
$32,432
Median Earnings
$1,305
Median Rent
$487,200
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 - Basement apartment has a separate entrance, while both units include their own washer/dryer.
Where is this duplex located?
The property is located at 644 S GRAND E Salt Lake City, UT.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 1,344‑square‑foot duplex built in 1948; Basement apartment with separate entrance; Each unit has its own washer/dryer
