Leased Duplex with Covered
For Sale
$495,000
2384 S DERBY St, West Valley City, UT 84119
Residential, West Valley City, UT
Property Size1,872 SF
Lot Size0.19 Acres
Price / SF$264.42
Days on Market51
Property Features for 2384 S DERBY St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Zoning description
1208
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2
Parking
10
Parking features
Covered
Window features
Blinds
Patio and Porch features
Patio
Exterior features
Lighting, Sliding Glass Doors, Patio: Open
Subdivision
RIVERSIDE
Lot features
Curb & Gutter, Fenced: Full, Sidewalks, Sprinkler: Auto- Full
Elementary school
Redwood
Middle school
Granite Park
High school
Granite Peaks
Elementary school district
Granite
Middle school district
Granite
High school district
Granite
Standard status
Active
APN
15-22-282-017
Size
1,872 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
2824
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Central
Amenities
evaporative coolers
Building Details
Year built
1977
Number of units
2
Flooring type
Carpet, Tile
Building materials
Brick, Stucco
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Equity Real Estate
(385) 399-8719
Listed By:
Jeffrey Callahan
(801) 971-0131
Added: Jul 31
Changed: Sep 13
Last Checked: Sep 19 at 11:06AM
MLS# 2175721
Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,872-square-foot duplex contains two residential units, each arranged with two bedrooms and one bathroom. Both units are occupied and maintained with carpet and tile flooring, brick and stucco construction, sliding glass doors, and open patios. Brand-new evaporative coolers supplement the forced-air central heating system, which uses natural gas. Covered parking is available on the property, which sits on a 0.19-acre lot and was built in 1977.
Located at 2384 S DERBY St in West Valley City, the property is zoned Multi-Family and served by public sewer. Its position provides access to I-215 and Bangerter Highway, with shopping, dining, and major employment corridors identified nearby. The duplex offers an established two-unit configuration in Salt Lake County with existing occupancy in place.
Located at 2384 S DERBY St in West Valley City, the property is zoned Multi-Family and served by public sewer. Its position provides access to I-215 and Bangerter Highway, with shopping, dining, and major employment corridors identified nearby. The duplex offers an established two-unit configuration in Salt Lake County with existing occupancy in place.
Key Highlights
- Two‑unit duplex with 1,872 square feet on a 0.19‑acre lot
- Each unit includes 2 beds and 1 bath; both units are occupied
- Multi‑Family zoning in West Valley City
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units feature one bathroom each, updated evaporative cooling, patios, and covered parking.
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 on a 0.19‑acre lot; Each unit includes 2 beds and 1 bath; both units are occupied; Multi‑Family zoning in West Valley City
