Brick Duplex with Private
For Sale
$1,200,000
2358 E GREGSON AVE, Salt Lake City, UT 84109
Two mirrored residences offer spacious layouts, private outdoor areas, garages, and separate fenced yards.
Property Size1 SF
Price / SF$315.13
Days on Market11
Property Features for 2358 E GREGSON AVE
General Information
Standard status
Active
Size
1 SF
Property subtype
Duplex
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
fireplace
laundry
private back patio
fully fenced backyard
Building Details
Building Size
1 SF
Year Built
1977
Buildings
1
Construction
brick
Listing Agency:
Niche Homes
(801) 673-7149
Listed By:
Sarah Boren
(801) 232-1233
Source:
Liftrealty
Added: Sep 6
Changed: Sep 15
Last Checked: Sep 16 at 6:19PM
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 Niche Homes
Investment Insights
Based on property information with market context.
This 3,808-square-foot duplex, built in 1977, contains two matching residences designed for separation and privacy. Each unit includes four bedrooms, two bathrooms, a fireplace, laundry area, a two-car garage, and a private back patio. Separate fully fenced backyards extend the usable outdoor space, while the brick exterior provides a durable building finish. Both units are currently vacant, allowing the next owner to establish occupancy and use the property as a two-unit residential asset.
Key Highlights
- 3,808‑square‑foot duplex with two mirrored residential units
- Each unit has 4 bedrooms, 2 bathrooms, and a fireplace
- Two‑car garage included with each residence
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
$50,783
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
4.23%
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%
$1,015,660
$1.0M
Cap Rate 7%
$725,471
$725.5K
Cap Rate 9%
$564,256
$564.3K
Market Conditions
NOI Build-Up for 3,808 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
$76.8K $20.16/SF
− Vacancy
−$4.2K −$1.11/SF
EGI
$72.5K $19.05/SF
− OpEx
−$21.8K −$5.72/SF
NOI
$50.8K $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%
$1,015,660
Cap Rate 7%
$725,471
Cap Rate 9%
$564,256
Alternative Uses
Best Use
Multifamily LT 5
$725.5K
$634.8K – $846.4K
NOI $50,783 @ 7.0% cap · market cap 4.23%
Second Best
Apartment 5plus
$673.9K
$589.7K – $786.3K
NOI $47,175 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$1.03M
$897.7K – $1.20M
NOI $71,815 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
563
Businesses Nearby
Explore this area
Business Placement
Demographics for 84109, UT
24,768
Population
9,829
Households
2.5
Avg Household Size
37
Median Age
69%
College-Educated
99%
High-School Grad
57.0 sq mi
ZIP Area
435
Density / Sq Mi
$136,823
Median Household Income
$63,758
Median Earnings
$1,584
Median Rent
$679,000
Median Home Value
Check the figures for this property
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?
Duplex - Two mirrored residences offer spacious layouts, private outdoor areas, garages, and separate fenced yards.
Where is this duplex located?
The property is located at 2358 E GREGSON AVE Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3,808‑square‑foot duplex with two mirrored residential units; Each unit has 4 bedrooms, 2 bathrooms, and a fireplace; Two‑car garage included with each residence
