Brick Duplex with
New
For Sale
$995,000
677 11TH Ave, Salt Lake City, UT 84103
Residential, Salt Lake City, UT
Property Size3,156 SF
Lot Size0.15 Acres
Price / SF$315.27
Days on Market3
Property Features for 677 11TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 4
Parking
4
Window features
Blinds
Interior features
Disposal, Range/Oven: Free Stdng., Dishwasher: Built-In
Lot features
Curb & Gutter, Fenced: Part, Road: Paved, Secluded, Sidewalks, Sprinkler: Auto- Full, View: Valley, Drip Irrigation: Auto- Part
View
Valley
Elementary school
Ensign
Middle school
Bryant
High school
West
Elementary school district
Salt Lake
Middle school district
Salt Lake
High school district
Salt Lake
Subdivision
Salt Lake City: Avenues Area
Standard status
Active
APN
09-32-107-013
Size
3,156 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
3938
Utilities
Sewer type
Public Sewer
Heating system
Central, Forced Air, Natural Gas
Building Details
Year built
1950
Number of units
2
Flooring type
Hardwood, Linoleum, Tile, Carpet
Building materials
Brick, Frame
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Utah Key Real Estate, LLC
(385) 787-7799
Listed By:
Daniel Gaffin
(801) 550-1294
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 19 at 3:06AM
MLS# 2186045
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Investment Insights
Based on property information with market context.
This 1950 brick duplex contains 3,156 square feet across two side-by-side units. Each residence includes three bedrooms, two bathrooms, a private one-car garage, and additional off-street parking. Interior features include freestanding ranges, built-in dishwashers, carpet, linoleum, tile, and hardwood flooring. The property is served by public sewer, natural-gas forced-air central heating, and an asphalt roof, with brick and frame construction.
Located at 677 11TH Ave in Salt Lake City’s Avenues area, the property offers views toward the city and mountains. The University of Utah, downtown Salt Lake City, major hospitals, City Creek Canyon trails, and the airport are identified as nearby destinations, with the airport approximately a 15-minute drive away. The 0.15-acre site carries Multi-Family zoning.
Located at 677 11TH Ave in Salt Lake City’s Avenues area, the property offers views toward the city and mountains. The University of Utah, downtown Salt Lake City, major hospitals, City Creek Canyon trails, and the airport are identified as nearby destinations, with the airport approximately a 15-minute drive away. The 0.15-acre site carries Multi-Family zoning.
Key Highlights
- Two‑unit duplex with 3,156 square feet of building area
- Each unit has 3 bedrooms, 2 bathrooms, and a private 1‑car garage
- Additional off‑street parking is available
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
$42,088
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
4.23%
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%
$841,760
$841.8K
Cap Rate 7%
$601,257
$601.3K
Cap Rate 9%
$467,644
$467.6K
Market Conditions
NOI Build-Up for 3,156 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
$63.6K $20.16/SF
− Vacancy
−$3.5K −$1.11/SF
EGI
$60.1K $19.05/SF
− OpEx
−$18.0K −$5.72/SF
NOI
$42.1K $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%
$841,760
Cap Rate 7%
$601,257
Cap Rate 9%
$467,644
Alternative Uses
Best Use
Multifamily LT 5
$601.3K
$526.1K – $701.5K
NOI $42,088 @ 7.0% cap · market cap 4.23%
Second Best
Apartment 5plus
$558.5K
$488.7K – $651.6K
NOI $39,098 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$850.3K
$744.0K – $992.0K
NOI $59,519 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
Explore this area
Business Placement
Demographics for 84103, UT
22,788
Population
13,528
Households
1.7
Avg Household Size
36
Median Age
66%
College-Educated
98%
High-School Grad
20.5 sq mi
ZIP Area
1,112
Density / Sq Mi
$81,386
Median Household Income
$54,787
Median Earnings
$1,374
Median Rent
$710,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two side-by-side residences offer three-bedroom layouts, private garages, and Multi-Family zoning.
Where is this duplex located?
The property is located at 677 11TH Ave Salt Lake City, UT.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Two‑unit duplex with 3,156 square feet of building area; Each unit has 3 bedrooms, 2 bathrooms, and a private 1‑car garage; Additional off‑street parking is available
