Updated Two-Bedroom
For Sale
$479,999
Pending
1069 W Wenco Dr, Salt Lake City, UT 84104
One side is vacant for an owner occupant, while the other has a tenant for six months.
Property Size1,430 SF
Days on Market44
Property Features for 1069 W Wenco Dr
General Information
Standard status
Pending
Size
1,430 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1970
Listing Agency:
PRIME RESIDENTIAL BROKERS
Listed By:
Brady Tanner
(801) 916-3542
Source:
Buysalty
Added: Jul 21
Changed: Sep 2
Last Checked: Sep 1 at 9:15PM
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 PRIME RESIDENTIAL BROKERS
Investment Insights
Based on property information with market context.
This two-bedroom duplex at 1069 W Wenco Dr includes 1,430 square feet and was built in 1970. Both sides have been updated with laminate flooring and cabinetry, and the property includes parking for residents.
The 1069 unit is vacant and available for an owner occupant. The 1071 unit is occupied by a tenant with six months remaining. The property is within walking distance of a park.
The 1069 unit is vacant and available for an owner occupant. The 1071 unit is occupied by a tenant with six months remaining. The property is within walking distance of a park.
Key Highlights
- Two‑bedroom duplex with 1,430 SF
- 1069 unit is vacant for an owner occupant
- 1071 unit has a tenant for six months
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
$19,070
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
3.97%
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%
$381,400
$381.4K
Cap Rate 7%
$272,429
$272.4K
Cap Rate 9%
$211,889
$211.9K
Market Conditions
NOI Build-Up for 1,430 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
$28.8K $20.16/SF
− Vacancy
−$1.6K −$1.11/SF
EGI
$27.2K $19.05/SF
− OpEx
−$8.2K −$5.72/SF
NOI
$19.1K $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%
$381,400
Cap Rate 7%
$272,429
Cap Rate 9%
$211,889
Alternative Uses
Best Use
Multifamily LT 5
$272.4K
$238.4K – $317.8K
NOI $19,070 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$253.1K
$221.5K – $295.3K
NOI $17,716 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$385.3K
$337.1K – $449.5K
NOI $26,968 @ 7.0% cap · market cap 5.62%
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
603
Businesses Nearby
Explore this area
Business Placement
Demographics for 84104, UT
23,487
Population
8,452
Households
2.8
Avg Household Size
31
Median Age
22%
College-Educated
78%
High-School Grad
21.6 sq mi
ZIP Area
1,087
Density / Sq Mi
$61,326
Median Household Income
$35,013
Median Earnings
$1,235
Median Rent
$318,100
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 - One side is vacant for an owner occupant, while the other has a tenant for six months.
Where is this duplex located?
The property is located at 1069 W Wenco Dr Salt Lake City, UT.
What is the asking price?
The asking price for this property is $479,999.
What are key features of this property?
This property features: Two‑bedroom duplex with 1,430 SF; 1069 unit is vacant for an owner occupant; 1071 unit has a tenant for six months
