Remodeled Duplex with En-Suite
New
For Sale
$525,000
2376 S 1440 W, Salt Lake City, UT 84119
Two-unit residential property combining a renovated vacant residence with an occupied unit and central air conditioning.
Property Size2,392 SF
Price / SF$219.48
Days on Market6
Property Features for 2376 S 1440 W
General Information
Standard status
Active
Size
2,392 SF
Property subtype
Multi-Family
Building Details
Year Built
1977
Listing Agency:
Omada Real Estate
Listed By:
The One Group Utah
(385) 350-2888
Source:
Theonegrouputah
Added: Sep 11
Changed: Sep 15
Last Checked: Sep 16 at 6:27PM
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 Omada Real Estate
Investment Insights
Based on property information with market context.
Built in 1977, this 2,392-square-foot duplex includes two residential units with practical layouts and central A/C. Each unit has a primary bedroom, walk-in closet, and private en-suite bathroom.
One residence is vacant following updates that include bathroom improvements, kitchen cabinetry, granite countertops, flooring, interior paint, and replacement windows. The second unit is occupied by long-term tenants who have expressed interest in remaining. The property is located at 2376 S 1440 W in Salt Lake City, Utah, providing an existing two-unit configuration for an owner-occupant or residential income property buyer.
One residence is vacant following updates that include bathroom improvements, kitchen cabinetry, granite countertops, flooring, interior paint, and replacement windows. The second unit is occupied by long-term tenants who have expressed interest in remaining. The property is located at 2376 S 1440 W in Salt Lake City, Utah, providing an existing two-unit configuration for an owner-occupant or residential income property buyer.
Key Highlights
- 2,392‑square‑foot duplex built in 1977
- One vacant unit renovated with updated bathrooms, cabinets, granite countertops, flooring, paint, and windows
- Both units include primary bedrooms, walk‑in closets, and private en‑suite bathrooms
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
$31,899
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
6.08%
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%
$637,980
$638.0K
Cap Rate 7%
$455,700
$455.7K
Cap Rate 9%
$354,433
$354.4K
Market Conditions
NOI Build-Up for 2,392 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
$48.2K $20.16/SF
− Vacancy
−$2.7K −$1.11/SF
EGI
$45.6K $19.05/SF
− OpEx
−$13.7K −$5.72/SF
NOI
$31.9K $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%
$637,980
Cap Rate 7%
$455,700
Cap Rate 9%
$354,433
Alternative Uses
Best Use
Multifamily LT 5
$455.7K
$398.7K – $531.7K
NOI $31,899 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$423.3K
$370.4K – $493.9K
NOI $29,633 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$644.4K
$563.9K – $751.9K
NOI $45,111 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,072
Businesses Nearby
Explore this area
Business Placement
Demographics for 84119, UT
54,143
Population
16,811
Households
3.2
Avg Household Size
31
Median Age
16%
College-Educated
79%
High-School Grad
11.5 sq mi
ZIP Area
4,708
Density / Sq Mi
$66,616
Median Household Income
$35,676
Median Earnings
$1,418
Median Rent
$341,800
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 residential property combining a renovated vacant residence with an occupied unit and central air conditioning.
Where is this duplex located?
The property is located at 2376 S 1440 W Salt Lake City, UT.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,392‑square‑foot duplex built in 1977; One vacant unit renovated with updated bathrooms, cabinets, granite countertops, flooring, paint, and windows; Both units include primary bedrooms, walk‑in closets, and private en‑suite bathrooms
