Remodeled Side-by-Side
For Sale
$1,049,000
1066 E MARKEA Ave, Salt Lake City, UT 84102
Residential, Salt Lake City, UT
Property Size3,308 SF
Lot Size0.07 Acres
Price / SF$317.11
Days on Market57
Property Features for 1066 E MARKEA Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Zoning description
RES
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 6, Bedroom 1, Bedroom 5, Bathroom 1, Bathroom 4, Bedroom 4, Bathroom 3
Parking
2
Parking features
Covered
Patio and Porch features
Patio
Interior features
Disposal, Kitchen: Updated, Range/Oven: Built-In, Dishwasher: Built-In
Exterior features
Double Pane Windows, Lighting, Patio: Open
Lot features
Fenced: Part, Road: Unpaved
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
16-05-254-010
Size
3,308 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
3705
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central, Forced Air
Building Details
Year built
1906
Number of units
2
Flooring type
Carpet, Hardwood, Tile
Building materials
Brick, Metal Siding
Roof type
Rubber
Architectural style
Other
Listing Agency:
Windermere Real Estate
(801) 485-3151
Listed By:
Michael Egan · License #5491658-SA00
(801) 502-3217
Added: Jul 7
Changed: Aug 22
Last Checked: Sep 1 at 11:06PM
MLS# 2170051
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 side-by-side duplex contains 3,308 square feet on a 0.07-acre lot. Renovations completed in 2019 included plumbing, electrical systems, kitchens, bathrooms, windows, and HVAC. Interior features include updated kitchens, built-in ranges and dishwashers, carpet, tile, and hardwood flooring. The east unit has a private fenced yard, covered parking, open patio, fresh paint, and new carpet; the west unit is leased under a new 12-month lease.
The property is located at 1066 E MARKEA Ave in Salt Lake City, approximately three blocks from the University of Utah. The surrounding context identified for the property includes downtown, hospitals, and public transportation. Multi-Family zoning supports the duplex configuration.
The property is located at 1066 E MARKEA Ave in Salt Lake City, approximately three blocks from the University of Utah. The surrounding context identified for the property includes downtown, hospitals, and public transportation. Multi-Family zoning supports the duplex configuration.
Key Highlights
- 3,308‑square‑foot duplex on a 0.07‑acre lot
- Side‑by‑side layout with two residential units
- Extensive renovations completed in 2019
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
$44,115
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
4.21%
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%
$882,300
$882.3K
Cap Rate 7%
$630,214
$630.2K
Cap Rate 9%
$490,167
$490.2K
Market Conditions
NOI Build-Up for 3,308 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
$66.7K $20.16/SF
− Vacancy
−$3.7K −$1.11/SF
EGI
$63.0K $19.05/SF
− OpEx
−$18.9K −$5.72/SF
NOI
$44.1K $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%
$882,300
Cap Rate 7%
$630,214
Cap Rate 9%
$490,167
Alternative Uses
Best Use
Multifamily LT 5
$630.2K
$551.4K – $735.3K
NOI $44,115 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$585.4K
$512.3K – $683.0K
NOI $40,981 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$891.2K
$779.8K – $1.04M
NOI $62,386 @ 7.0% cap · market cap 5.95%
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
2,291
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 - Two-unit property with updated interiors, covered parking, and a fenced yard at one residence.
Where is this duplex located?
The property is located at 1066 E MARKEA Ave Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,049,000.
What are key features of this property?
This property features: 3,308‑square‑foot duplex on a 0.07‑acre lot; Side‑by‑side layout with two residential units; Extensive renovations completed in 2019
