Updated Duplex Near Liberty
New
For Sale
$580,000
1241 S 300 E, Salt Lake City, UT 84121
Two mirrored units provide main-level living, private bedrooms, and shared property amenities.
Property Size1,540 SF
Price / SF$376.62
Days on Market6
Property Features for 1241 S 300 E
General Information
Standard status
Active
Size
1,540 SF
Property subtype
Multi-Family
Building Details
Year Built
1975
Listing Agency:
Bt Dynamic Realty, LLC
Listed By:
The One Group Utah
(385) 350-2888
Source:
Theonegrouputah
Added: Aug 28
Changed: Aug 31
Last Checked: Sep 1 at 6:39PM
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 Bt Dynamic Realty, LLC
Investment Insights
Based on property information with market context.
This all-brick duplex contains two side-by-side, mirrored residences with main-floor layouts. Each unit includes a living room, kitchen, two bedrooms, and one bathroom. Recent improvements include fresh paint, vinyl flooring, HVAC systems, water heaters, washers and dryers, and newer windows. The main water line was replaced in 2021.
The property includes assigned carports, storage areas, a shared laundry room, and a fenced backyard. It is near Liberty Park and within minutes of downtown Salt Lake City, the University of Utah, Sugar House, and Salt Lake City International Airport. Both units were previously fully occupied, and the property is configured for residential rental use.
The property includes assigned carports, storage areas, a shared laundry room, and a fenced backyard. It is near Liberty Park and within minutes of downtown Salt Lake City, the University of Utah, Sugar House, and Salt Lake City International Airport. Both units were previously fully occupied, and the property is configured for residential rental use.
Key Highlights
- Two side‑by‑side duplex units, each with 2 bedrooms and 1 bathroom
- 1,540 SF property built in 1975
- Updated HVAC systems, water heaters, washers and dryers, flooring, paint, and windows
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
$20,537
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
3.54%
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%
$410,740
$410.7K
Cap Rate 7%
$293,386
$293.4K
Cap Rate 9%
$228,189
$228.2K
Market Conditions
NOI Build-Up for 1,540 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
$31.0K $20.16/SF
− Vacancy
−$1.7K −$1.11/SF
EGI
$29.3K $19.05/SF
− OpEx
−$8.8K −$5.72/SF
NOI
$20.5K $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%
$410,740
Cap Rate 7%
$293,386
Cap Rate 9%
$228,189
Alternative Uses
Best Use
Multifamily LT 5
$293.4K
$256.7K – $342.3K
NOI $20,537 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$272.5K
$238.5K – $318.0K
NOI $19,078 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$414.9K
$363.0K – $484.1K
NOI $29,043 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,803
Businesses Nearby
Explore this area
Business Placement
Demographics for 84121, UT
41,628
Population
16,669
Households
2.5
Avg Household Size
40
Median Age
52%
College-Educated
97%
High-School Grad
64.5 sq mi
ZIP Area
645
Density / Sq Mi
$114,912
Median Household Income
$56,990
Median Earnings
$1,732
Median Rent
$614,500
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 - Two mirrored units provide main-level living, private bedrooms, and shared property amenities.
Where is this duplex located?
The property is located at 1241 S 300 E Salt Lake City, UT.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Two side‑by‑side duplex units, each with 2 bedrooms and 1 bathroom; 1,540 SF property built in 1975; Updated HVAC systems, water heaters, washers and dryers, flooring, paint, and windows
