Remodeled Duplex with Large
For Sale
$700,000
1446 N MANDALAY RD, Salt Lake City, UT 84116
One unit is remodeled and ready for occupancy, while the other is tenant occupied.
Property Size3,700 SF
Days on Market92
Property Features for 1446 N MANDALAY RD
General Information
Standard status
Active
Size
3,700 SF
Property subtype
Duplex
Units
Unit Mix
2 x 5BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,564
Amenities
large yard
Building Details
Building Size
3,700 SF
Year Built
1972
Listing Agency:
KW Utah Realtors Keller Williams
Listed By:
Cameron Burnside · License #5488326
(801) 858-0000
Source:
Acresutah
Added: Jun 5
Changed: Sep 3
Last Checked: Sep 4 at 9:55AM
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 KW Utah Realtors Keller Williams
Investment Insights
Based on property information with market context.
This duplex at 1446 N Mandalay Rd in Salt Lake City, Utah, includes two residential units with matching layouts of five bedrooms and two bathrooms each. One unit has undergone remodeling and is ready for occupancy, while the second is currently tenant occupied. Together, the property provides 10 bedrooms and 4 bathrooms across the two-unit configuration.
Built in 1972, the property also features a recently repainted exterior and a large yard. The combination of updated interior space, existing occupancy, and outdoor area gives the asset a distinct physical profile for residential income ownership.
Built in 1972, the property also features a recently repainted exterior and a large yard. The combination of updated interior space, existing occupancy, and outdoor area gives the asset a distinct physical profile for residential income ownership.
Key Highlights
- Duplex with two 5‑bedroom, 2‑bathroom units
- 10 total bedrooms and 4 total bathrooms
- One unit recently remodeled and ready for occupancy
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
$49,343
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
7.05%
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%
$986,860
$986.9K
Cap Rate 7%
$704,900
$704.9K
Cap Rate 9%
$548,256
$548.3K
Market Conditions
NOI Build-Up for 3,700 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
$74.6K $20.16/SF
− Vacancy
−$4.1K −$1.11/SF
EGI
$70.5K $19.05/SF
− OpEx
−$21.1K −$5.72/SF
NOI
$49.3K $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%
$986,860
Cap Rate 7%
$704,900
Cap Rate 9%
$548,256
Alternative Uses
Best Use
Multifamily LT 5
$704.9K
$616.8K – $822.4K
NOI $49,343 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$654.8K
$573.0K – $764.0K
NOI $45,837 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$996.8K
$872.2K – $1.16M
NOI $69,778 @ 7.0% cap · market cap 9.97%
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
160
Businesses Nearby
Explore this area
Business Placement
Demographics for 84116, UT
35,327
Population
14,487
Households
2.4
Avg Household Size
31
Median Age
24%
College-Educated
82%
High-School Grad
50.3 sq mi
ZIP Area
702
Density / Sq Mi
$69,604
Median Household Income
$38,492
Median Earnings
$1,280
Median Rent
$334,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - One unit is remodeled and ready for occupancy, while the other is tenant occupied.
Where is this duplex located?
The property is located at 1446 N MANDALAY RD Salt Lake City, UT.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Duplex with two 5‑bedroom, 2‑bathroom units; 10 total bedrooms and 4 total bathrooms; One unit recently remodeled and ready for occupancy
