Duplex with Covered
New
For Sale
$820,000
1723 E 1700 S, Salt Lake City, UT 84108
Two-unit residence with garage storage, a backyard, mountain views, and access to nearby shopping, dining, and transit.
Property Size2,454 SF
Price / SF$334.15
Days on Market3
Property Features for 1723 E 1700 S
General Information
Standard status
Active
Size
2,454 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Amenities
covered porch
hardwood and laminate flooring
oversized garage with storage
backyard
Building Details
Year Built
1944
Listing Agency:
Connect Fast Realty, LLC
Listed By:
Farmhouse Realty Group
(801) 721-8150
Source:
Farmhouserealty
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 2 at 1:47PM
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 Connect Fast Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1944, this 2,454-square-foot duplex at 1723 E 1700 S includes a covered porch, hardwood and laminate flooring, and a newer roof. An oversized garage provides additional storage, while the backyard captures mountain views.
The property is within walking distance of Wasatch Hollow Park and close to Sugar House shopping, dining, and transit. Westminster College, the University of Utah, I-80, Park City, and Salt Lake City International Airport are also accessible from the property.
The property is within walking distance of Wasatch Hollow Park and close to Sugar House shopping, dining, and transit. Westminster College, the University of Utah, I-80, Park City, and Salt Lake City International Airport are also accessible from the property.
Key Highlights
- 2,454‑square‑foot duplex built in 1944
- Covered porch and hardwood and laminate flooring
- Newer roof
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
$32,726
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
3.99%
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%
$654,520
$654.5K
Cap Rate 7%
$467,514
$467.5K
Cap Rate 9%
$363,622
$363.6K
Market Conditions
NOI Build-Up for 2,454 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
$49.5K $20.16/SF
− Vacancy
−$2.7K −$1.11/SF
EGI
$46.8K $19.05/SF
− OpEx
−$14.0K −$5.72/SF
NOI
$32.7K $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%
$654,520
Cap Rate 7%
$467,514
Cap Rate 9%
$363,622
Alternative Uses
Best Use
Multifamily LT 5
$467.5K
$409.1K – $545.4K
NOI $32,726 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$434.3K
$380.0K – $506.7K
NOI $30,401 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$661.1K
$578.5K – $771.3K
NOI $46,280 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
Explore this area
Business Placement
Demographics for 84108, UT
21,261
Population
8,258
Households
2.6
Avg Household Size
35
Median Age
78%
College-Educated
98%
High-School Grad
72.2 sq mi
ZIP Area
294
Density / Sq Mi
$120,469
Median Household Income
$42,821
Median Earnings
$1,562
Median Rent
$759,800
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-unit residence with garage storage, a backyard, mountain views, and access to nearby shopping, dining, and transit.
Where is this duplex located?
The property is located at 1723 E 1700 S Salt Lake City, UT.
What is the asking price?
The asking price for this property is $820,000.
What are key features of this property?
This property features: 2,454‑square‑foot duplex built in 1944; Covered porch and hardwood and laminate flooring; Newer roof
