Duplex With New
For Sale
$720,000
3366 700, Salt Lake City, UT 84106
Leased two-unit property with open layouts, updated kitchens, private fenced yards, and in-unit laundry hookups.
Property Size2,200 SF
Price / SF$327.27
Days on Market472
Property Features for 3366 700
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,500
Amenities
3
Hardwood, Tile
Disposal, Range/Oven Free Standing, Electric Dryer
Window Coverings, Window Blinds, Cathedral/vaulted Ceiling
Double Pane
Membrane
Partial
Patio, Open Porch
Parking. Fenced Yard.
10 Parking Spaces. Covered, Uncovered.
Brick
Fruit Crops,
0.0x0.0x0.0
Sliding Glass Door, Sidewalks, Landscaped. Fruit Crops.
Building Details
Buildings
1
Listing Agency:
Equity Real Estate (American Fork)
(801) 610-9394
Listed By:
Shantell Douros
(801) 610-9394
Source:
Xome
Added: May 19, 2025
Changed: Sep 2
Last Checked: Sep 1 at 3:00PM
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 Equity Real Estate (American Fork)
Investment Insights
Based on property information with market context.
This 2,200-square-foot duplex includes two residential units, each with an open floor plan, solid-surface countertops, stainless steel appliances, and a mix of hardwood and tile finishes. Both kitchens have some new tile, and each unit includes washer and dryer hookups; one side also has a washer and dryer. Cathedral or vaulted ceilings, double-pane windows, window coverings, patios, and open porches add to the interior and exterior features. A vinyl fence divides the two yards, while the landscaped grounds include fruit crops. The entire building received a new membrane roof within the last 6 months.
Both units are occupied by renters with leases in place. The property at 3366 700, Salt Lake City, Utah 84106, offers 10 parking spaces with covered and uncovered options. Nibley Park and Sugar House proper are identified nearby, providing access to golf, dining, and entertainment.
Both units are occupied by renters with leases in place. The property at 3366 700, Salt Lake City, Utah 84106, offers 10 parking spaces with covered and uncovered options. Nibley Park and Sugar House proper are identified nearby, providing access to golf, dining, and entertainment.
Key Highlights
- 2,200‑square‑foot duplex with two leased units
- New membrane roof installed on the entire building in the last 6 months
- Each unit has an open floor plan, solid‑surface counters, and stainless steel appliances
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
$29,339
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
4.07%
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%
$586,780
$586.8K
Cap Rate 7%
$419,129
$419.1K
Cap Rate 9%
$325,989
$326.0K
Market Conditions
NOI Build-Up for 2,200 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
$44.4K $20.16/SF
− Vacancy
−$2.4K −$1.11/SF
EGI
$41.9K $19.05/SF
− OpEx
−$12.6K −$5.72/SF
NOI
$29.3K $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%
$586,780
Cap Rate 7%
$419,129
Cap Rate 9%
$325,989
Alternative Uses
Best Use
Multifamily LT 5
$419.1K
$366.7K – $489.0K
NOI $29,339 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$389.4K
$340.7K – $454.3K
NOI $27,255 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$592.7K
$518.6K – $691.5K
NOI $41,490 @ 7.0% cap · market cap 5.76%
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
843
Businesses Nearby
Explore this area
Business Placement
Demographics for 84106, UT
35,892
Population
16,782
Households
2.1
Avg Household Size
35
Median Age
57%
College-Educated
97%
High-School Grad
6.0 sq mi
ZIP Area
5,982
Density / Sq Mi
$94,452
Median Household Income
$56,358
Median Earnings
$1,576
Median Rent
$529,100
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 - Leased two-unit property with open layouts, updated kitchens, private fenced yards, and in-unit laundry hookups.
Where is this duplex located?
The property is located at 3366 700 Salt Lake City, UT.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: 2,200‑square‑foot duplex with two leased units; New membrane roof installed on the entire building in the last 6 months; Each unit has an open floor plan, solid‑surface counters, and stainless steel appliances
