Updated Duplex With Two
For Sale
$415,000
230 N 2nd, Tooele, UT 84074
Two private residences share one parcel, with individual storage sheds and separate settings for each household.
Property Size1,450 SF
Price / SF$286.21
Days on Market45
Property Features for 230 N 2nd
General Information
Standard status
Active
Size
1,450 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
private storage shed
Building Details
Year Built
1950
Listing Agency:
Realtypath LLC (Platinum)
(801) 782-4575
Listed By:
Mark Dunn
Source:
Buysalty
Added: Jul 16
Changed: Aug 28
Last Checked: Aug 25 at 4:14AM
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 Realtypath LLC (Platinum)
Investment Insights
Based on property information with market context.
This 1,450-square-foot duplex consists of two separate homes on one lot. The front residence has received new flooring, baseboards, casing, and interior doors, along with kitchen and bathroom updates. The rear residence has fresh paint and new carpet, while its tenant has maintained occupancy for 11 years. Both homes have their own storage shed and a distinct private setting.
Built in 1950, the property offers two residential units within a single duplex configuration. The separate-home layout provides individual living environments for occupants while retaining the convenience of one property ownership. The address is 230 N 2nd E in Tooele, Utah.
Built in 1950, the property offers two residential units within a single duplex configuration. The separate-home layout provides individual living environments for occupants while retaining the convenience of one property ownership. The address is 230 N 2nd E in Tooele, Utah.
Key Highlights
- Two separate homes situated on one lot
- 1,450 square feet across the duplex
- Front home updated with flooring, trim, doors, kitchen, and bathroom improvements
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
$15,703
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
3.78%
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%
$314,060
$314.1K
Cap Rate 7%
$224,329
$224.3K
Cap Rate 9%
$174,478
$174.5K
Market Conditions
NOI Build-Up for 1,450 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
$23.5K $16.20/SF
− Vacancy
−$1.1K −$0.73/SF
EGI
$22.4K $15.47/SF
− OpEx
−$6.7K −$4.64/SF
NOI
$15.7K $10.83/SF
Area
Tooele County, 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%
$314,060
Cap Rate 7%
$224,329
Cap Rate 9%
$174,478
Alternative Uses
Best Use
Multifamily LT 5
$224.3K
$196.3K – $261.7K
NOI $15,703 @ 7.0% cap · market cap 3.78%
Second Best
Apartment 5plus
$202.5K
$177.2K – $236.2K
NOI $14,174 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$390.7K
$341.8K – $455.8K
NOI $27,346 @ 7.0% cap · market cap 6.59%
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
829
Businesses Nearby
Explore this area
Business Placement
Demographics for 84074, UT
55,001
Population
18,128
Households
3
Avg Household Size
31
Median Age
24%
College-Educated
93%
High-School Grad
174.3 sq mi
ZIP Area
316
Density / Sq Mi
$102,313
Median Household Income
$47,385
Median Earnings
$1,197
Median Rent
$383,300
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 private residences share one parcel, with individual storage sheds and separate settings for each household.
Where is this duplex located?
The property is located at 230 N 2nd Tooele, 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 separate homes situated on one lot; 1,450 square feet across the duplex; Front home updated with flooring, trim, doors, kitchen, and bathroom improvements
