Side-by-Side Duplex With
For Sale
$500,000
Pending
1216 S LYMAN CT, Salt Lake City, UT 84105
Legal, conforming side-by-side duplex sold as-is, with updates in one unit and an upstairs loft in one side.
Property Size1,754 SF
Days on Market63
Property Features for 1216 S LYMAN CT
General Information
Standard status
Pending
Size
1,754 SF
Property subtype
Duplex
Building Details
Building Size
1,754 SF
Year Built
1917
Listing Agency:
cityhome COLLECTIVE
(801) 718-5555
Listed By:
Jennifer s. Hadfield
(801) 918-4195
Source:
Liftrealty
Added: Jul 10
Changed: Sep 9
Last Checked: Sep 10 at 5:43AM
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 cityhome COLLECTIVE
Investment Insights
Based on property information with market context.
This legal, conforming side-by-side duplex offers two residential units with individual utility updates noted in the remarks. One unit has updated electrical and other updates, while the other is described as ready for updates. One side also features an upstairs loft, adding flexible living space within the duplex layout. The property is being sold as-is, with offers subject to lender approval.
The duplex is located at 1216 S Lyman Ct in Salt Lake City, tucked away at the end of a quiet, tree-lined dead-end street. The remarks indicate proximity to the University of Utah, the shops and restaurants of 9th & 9th, and Liberty Park. Showings are available by appointment only; please contact Jennifer Hadfield to schedule and do not disturb the tenants.
Square footage per side is an estimate only; buyers are advised to verify all information. All offers must be accompanied by a pre-qualification letter.
The duplex is located at 1216 S Lyman Ct in Salt Lake City, tucked away at the end of a quiet, tree-lined dead-end street. The remarks indicate proximity to the University of Utah, the shops and restaurants of 9th & 9th, and Liberty Park. Showings are available by appointment only; please contact Jennifer Hadfield to schedule and do not disturb the tenants.
Square footage per side is an estimate only; buyers are advised to verify all information. All offers must be accompanied by a pre-qualification letter.
Key Highlights
- Legal, conforming side‑by‑side duplex built in 1917, sold as‑is
- One unit includes updated electrical and other updates
- Other unit is ready for updates
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
$23,391
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
4.68%
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%
$467,820
$467.8K
Cap Rate 7%
$334,157
$334.2K
Cap Rate 9%
$259,900
$259.9K
Market Conditions
NOI Build-Up for 1,754 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
$35.4K $20.16/SF
− Vacancy
−$1.9K −$1.11/SF
EGI
$33.4K $19.05/SF
− OpEx
−$10.0K −$5.72/SF
NOI
$23.4K $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%
$467,820
Cap Rate 7%
$334,157
Cap Rate 9%
$259,900
Alternative Uses
Best Use
Multifamily LT 5
$334.2K
$292.4K – $389.9K
NOI $23,391 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$310.4K
$271.6K – $362.2K
NOI $21,729 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$472.6K
$413.5K – $551.3K
NOI $33,079 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
876
Businesses Nearby
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Business Placement
Demographics for 84105, UT
22,856
Population
10,953
Households
2.1
Avg Household Size
35
Median Age
66%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
7,373
Density / Sq Mi
$94,145
Median Household Income
$52,785
Median Earnings
$1,482
Median Rent
$632,200
Median Home Value
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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 - Legal, conforming side-by-side duplex sold as-is, with updates in one unit and an upstairs loft in one side.
Where is this duplex located?
The property is located at 1216 S LYMAN CT Salt Lake City, UT.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Legal, conforming side‑by‑side duplex built in 1917, sold as‑is; One unit includes updated electrical and other updates; Other unit is ready for updates
