Renovated
New
For Sale
$875,000
1026 E PERRYWILL AVE, Salt Lake City, UT 84124
Both units received extensive interior updates, with occupancy flexibility for an owner occupant.
Property Size3,868 SF
Days on Market7
Property Features for 1026 E PERRYWILL AVE
General Information
Standard status
Active
Size
3,868 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,965
Building Details
Building Size
3,868 SF
Year Built
1969
Listing Agency:
Canovo Group
(801) 850-5700
Listed By:
David T Robinson
Source:
Acresutah
Added: Aug 18
Changed: Aug 21
Last Checked: Aug 24 at 12:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Canovo Group
Investment Insights
Based on property information with market context.
This duplex, built in 1969, has undergone full interior renovations since 2020. Improvements include kitchen cabinetry, countertops, flooring, dishwashers, microwaves, stoves, disposals, and faucets, along with updated bathroom tubs, toilets, tile, flooring, baseboards, lighting, and blinds. Both furnaces were replaced in 2019, and the roof was replaced in 2012.
The property is located at 1026 E Perrywill Ave in Salt Lake City, Utah. The owner currently pays water, sewer, and garbage expenses. One unit is scheduled to become available for an owner occupant on October 1st, subject to the existing occupancy timeline.
The property is located at 1026 E Perrywill Ave in Salt Lake City, Utah. The owner currently pays water, sewer, and garbage expenses. One unit is scheduled to become available for an owner occupant on October 1st, subject to the existing occupancy timeline.
Key Highlights
- Full interior renovations completed since 2020
- Updated kitchens with new cabinets, countertops, flooring, and appliances
- Bathrooms updated with tubs, toilets, tile, flooring, lighting, and blinds
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
$51,583
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
5.90%
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%
$1,031,660
$1.0M
Cap Rate 7%
$736,900
$736.9K
Cap Rate 9%
$573,144
$573.1K
Market Conditions
NOI Build-Up for 3,868 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
$78.0K $20.16/SF
− Vacancy
−$4.3K −$1.11/SF
EGI
$73.7K $19.05/SF
− OpEx
−$22.1K −$5.72/SF
NOI
$51.6K $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%
$1,031,660
Cap Rate 7%
$736,900
Cap Rate 9%
$573,144
Alternative Uses
Best Use
Multifamily LT 5
$736.9K
$644.8K – $859.7K
NOI $51,583 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$684.6K
$599.0K – $798.7K
NOI $47,919 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$1.04M
$911.8K – $1.22M
NOI $72,947 @ 7.0% cap · market cap 8.34%
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
1,737
Businesses Nearby
Explore this area
Business Placement
Demographics for 84124, UT
22,872
Population
8,976
Households
2.5
Avg Household Size
38
Median Age
60%
College-Educated
98%
High-School Grad
7.7 sq mi
ZIP Area
2,970
Density / Sq Mi
$117,500
Median Household Income
$53,551
Median Earnings
$1,460
Median Rent
$704,400
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 - Both units received extensive interior updates, with occupancy flexibility for an owner occupant.
Where is this duplex located?
The property is located at 1026 E PERRYWILL AVE Salt Lake City, UT.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Full interior renovations completed since 2020; Updated kitchens with new cabinets, countertops, flooring, and appliances; Bathrooms updated with tubs, toilets, tile, flooring, lighting, and blinds
