Updated Two-Unit
New
For Sale
$415,000
3148 W 3650 S, West Valley City, UT 84119
Side-by-side residences offer private outdoor space, covered parking, and laundry hookups for each household.
Property Size1,824 SF
Price / SF$227.52
Days on Market3
Property Features for 3148 W 3650 S
General Information
Standard status
Active
Size
1,824 SF
Property subtype
Multi-Family
Building Details
Year Built
1959
Listing Agency:
Real Estate Essentials
Listed By:
Megan Wiesen
(801) 502-4360
Source:
Buysalty
Added: Sep 14
Changed: Sep 16
Last Checked: Sep 15 at 7:48PM
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 Real Estate Essentials
Investment Insights
Based on property information with market context.
This two-unit duplex contains matching residences with two bedrooms and one bathroom on each side. The property was built in 1959 and has been updated, with each residence offering a carport, storage shed, washer and dryer hookups, and a fully enclosed backyard. The east unit includes a washer, dryer, and refrigerator; appliances in the west unit are divided between the property and its tenant. An adjacent one-bedroom, one-bath home with a two-car garage is also available separately or in combination with the duplex, providing additional configuration flexibility for an owner seeking multiple residences at the same location.
Key Highlights
- Two side‑by‑side units with 2 bedrooms and 1 bathroom each
- 1,824 square feet of duplex space
- Each unit includes a carport and small storage shed
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
$19,753
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
4.76%
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%
$395,060
$395.1K
Cap Rate 7%
$282,186
$282.2K
Cap Rate 9%
$219,478
$219.5K
Market Conditions
NOI Build-Up for 1,824 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
$29.5K $16.20/SF
− Vacancy
−$1.3K −$0.73/SF
EGI
$28.2K $15.47/SF
− OpEx
−$8.5K −$4.64/SF
NOI
$19.8K $10.83/SF
Area
West Valley City, UT
Vacancy
4.50%
Lease Rate
$16.20 /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%
$395,060
Cap Rate 7%
$282,186
Cap Rate 9%
$219,478
Alternative Uses
Best Use
Multifamily LT 5
$282.2K
$246.9K – $329.2K
NOI $19,753 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$254.7K
$222.9K – $297.2K
NOI $17,829 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$522.2K
$456.9K – $609.2K
NOI $36,553 @ 7.0% cap · market cap 8.81%
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
871
Businesses Nearby
Explore this area
Business Placement
Demographics for 84119, UT
54,143
Population
16,811
Households
3.2
Avg Household Size
31
Median Age
16%
College-Educated
79%
High-School Grad
11.5 sq mi
ZIP Area
4,708
Density / Sq Mi
$66,616
Median Household Income
$35,676
Median Earnings
$1,418
Median Rent
$341,800
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 - Side-by-side residences offer private outdoor space, covered parking, and laundry hookups for each household.
Where is this duplex located?
The property is located at 3148 W 3650 S West Valley City, UT.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Two side‑by‑side units with 2 bedrooms and 1 bathroom each; 1,824 square feet of duplex space; Each unit includes a carport and small storage shed
