Duplex with New Evaporative
For Sale
$495,000
2384 S DERBY ST, West Valley City, UT 84119
Fully occupied two-unit property with updated evaporative cooling and convenient access to I-215 and Bangerter Highway.
Property Size1,872 SF
Price / SF$264.42
Days on Market76
Property Features for 2384 S DERBY ST
General Information
Standard status
Active
Size
1,872 SF
Property subtype
Duplex
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Building Size
1,872 SF
Year Built
1977
Tenancy
Multi
Listing Agency:
Equity Real Estate
(801) 971-0131
Listed By:
Jeffrey Callahan
(801) 971-0131
Source:
Liftrealty
Added: May 28
Changed: Aug 11
Last Checked: Aug 11 at 5:51AM
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 Equity Real Estate
Investment Insights
Based on property information with market context.
Located at 2384 S Derby St in West Valley City, this 1,872-square-foot duplex contains two residential units, each configured with 2 bedrooms and 1 bathroom. Both units are fully occupied and described as clean and well maintained. New evaporative coolers provide an updated cooling feature for the property.
Built in 1977, the duplex offers access to I-215 and Bangerter Highway, with shopping, dining, and major employment corridors nearby. Its two-unit configuration and current occupancy provide an established residential income property profile. Tenant privacy is requested during the marketing process.
Built in 1977, the duplex offers access to I-215 and Bangerter Highway, with shopping, dining, and major employment corridors nearby. Its two-unit configuration and current occupancy provide an established residential income property profile. Tenant privacy is requested during the marketing process.
Key Highlights
- Two‑unit duplex with 1,872 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- Both units are fully occupied
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
$20,273
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
4.10%
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%
$405,460
$405.5K
Cap Rate 7%
$289,614
$289.6K
Cap Rate 9%
$225,256
$225.3K
Market Conditions
NOI Build-Up for 1,872 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
$30.3K $16.20/SF
− Vacancy
−$1.4K −$0.73/SF
EGI
$29.0K $15.47/SF
− OpEx
−$8.7K −$4.64/SF
NOI
$20.3K $10.83/SF
Area
West Valley City, 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%
$405,460
Cap Rate 7%
$289,614
Cap Rate 9%
$225,256
Alternative Uses
Best Use
Multifamily LT 5
$289.6K
$253.4K – $337.9K
NOI $20,273 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$261.4K
$228.7K – $305.0K
NOI $18,299 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$535.9K
$468.9K – $625.3K
NOI $37,515 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
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 - Fully occupied two-unit property with updated evaporative cooling and convenient access to I-215 and Bangerter Highway.
Where is this duplex located?
The property is located at 2384 S DERBY ST West Valley City, UT.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,872 square feet; Each unit includes 2 bedrooms and 1 bathroom; Both units are fully occupied
