Residential
For Sale
$628,500
1985 S 200 E, Salt Lake City, UT 84115
Three distinct residences include a studio and one- and two-bedroom units, each with a bathroom.
Property Size1,499 SF
Days on Market10
Property Features for 1985 S 200 E
General Information
Standard status
Active
Size
1,499 SF
Property subtype
Triplex
Units
Unit Mix
1BR/1BA, 2BR/1BA, Studio/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,776
Building Details
Building Size
1,499 SF
Year Built
1928
Buildings
1
Listing Agency:
National E-Realty, LLC
Listed By:
Gary M Nguyen
Source:
Acresutah
Added: Sep 18
Changed: Sep 26
Last Checked: Sep 26 at 7:24AM
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 National E-Realty, LLC
Investment Insights
Based on property information with market context.
This 1,499-square-foot residential triplex was built in 1928 and is configured as three separate residences: a one-bedroom, one-bathroom unit, a two-bedroom, one-bathroom unit, and a studio with a kitchen and bathroom. The property is identified as a legal triplex and is described as well maintained.
The address is 1985 S 200 E in Salt Lake City. The property is approximately 18 minutes from the University of Utah and a few minutes from downtown Salt Lake City. Showings are by appointment; tenants should not be disturbed.
The address is 1985 S 200 E in Salt Lake City. The property is approximately 18 minutes from the University of Utah and a few minutes from downtown Salt Lake City. Showings are by appointment; tenants should not be disturbed.
Key Highlights
- Legal triplex with three residences
- Unit mix includes a 1‑bedroom/1‑bathroom unit, a 2‑bedroom/1‑bathroom unit, and a studio with kitchen and bath
- 1,499 square feet; built in 1928
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
$19,990
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
3.18%
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%
$399,800
$399.8K
Cap Rate 7%
$285,571
$285.6K
Cap Rate 9%
$222,111
$222.1K
Market Conditions
NOI Build-Up for 1,499 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
$30.2K $20.16/SF
− Vacancy
−$1.7K −$1.11/SF
EGI
$28.6K $19.05/SF
− OpEx
−$8.6K −$5.72/SF
NOI
$20.0K $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%
$399,800
Cap Rate 7%
$285,571
Cap Rate 9%
$222,111
Alternative Uses
Best Use
Multifamily LT 5
$285.6K
$249.9K – $333.2K
NOI $19,990 @ 7.0% cap · market cap 3.18%
Second Best
Apartment 5plus
$265.3K
$232.1K – $309.5K
NOI $18,570 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$403.9K
$353.4K – $471.2K
NOI $28,270 @ 7.0% cap · market cap 4.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,394
Businesses Nearby
Explore this area
Business Placement
Demographics for 84115, UT
27,588
Population
13,899
Households
2
Avg Household Size
33
Median Age
33%
College-Educated
85%
High-School Grad
6.1 sq mi
ZIP Area
4,523
Density / Sq Mi
$61,505
Median Household Income
$43,785
Median Earnings
$1,263
Median Rent
$396,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Triplex - Three distinct residences include a studio and one- and two-bedroom units, each with a bathroom.
Where is this triplex located?
The property is located at 1985 S 200 E Salt Lake City, UT.
What is the asking price?
The asking price for this property is $628,500.
What are key features of this property?
This property features: Legal triplex with three residences; Unit mix includes a 1‑bedroom/1‑bathroom unit, a 2‑bedroom/1‑bathroom unit, and a studio with kitchen and bath; 1,499 square feet; built in 1928
