Updated Duplex With Detached
New
For Sale
$450,000
241 E UTAH AVE, Tooele, UT 84074
Separate basement apartment provides a private entrance, kitchen, and laundry hookups.
Property Size2,112 SF
Price / SF$213.07
Days on Market4
Property Features for 241 E UTAH AVE
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Duplex
Units
Unit Mix
3BR/2BA, 3BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$21,000
Amenities
detached garage
Building Details
Building Size
2,112 SF
Year Built
1996
Construction
rambler
Listing Agency:
Realtypath LLC (Platinum)
(435) 849-5914
Listed By:
Mark Dunn
(435) 849-5914
Source:
Liftrealty
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 9 at 6:20AM
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 updated rambler is configured as a duplex with a main-level residence and a separate basement apartment. The upper unit includes a family room, kitchen, dining area, three bedrooms, two bathrooms, and a laundry area. The lower unit offers three bedrooms, one bathroom, its own kitchen, private entry, and separate laundry hookups.
Both kitchens feature quartz countertops and stainless steel appliances. Bathroom improvements include new LVP flooring, epoxied tubs, and updated vanities. The property also includes a newer roof, furnace, AC, and water heater, along with a large detached garage and ample parking. Built in 1996, the property contains 2,112 SF and is located at 241 E Utah Ave in Tooele, Utah.
Both kitchens feature quartz countertops and stainless steel appliances. Bathroom improvements include new LVP flooring, epoxied tubs, and updated vanities. The property also includes a newer roof, furnace, AC, and water heater, along with a large detached garage and ample parking. Built in 1996, the property contains 2,112 SF and is located at 241 E Utah Ave in Tooele, Utah.
Key Highlights
- 2,112 SF duplex built in 1996
- Basement unit includes 3 bedrooms, 1 bathroom, kitchen, private entrance, and separate laundry hookups
- Main‑level unit offers 3 bedrooms and 2 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
$22,872
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
5.08%
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%
$457,440
$457.4K
Cap Rate 7%
$326,743
$326.7K
Cap Rate 9%
$254,133
$254.1K
Market Conditions
NOI Build-Up for 2,112 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
$34.2K $16.20/SF
− Vacancy
−$1.5K −$0.73/SF
EGI
$32.7K $15.47/SF
− OpEx
−$9.8K −$4.64/SF
NOI
$22.9K $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%
$457,440
Cap Rate 7%
$326,743
Cap Rate 9%
$254,133
Alternative Uses
Best Use
Multifamily LT 5
$326.7K
$285.9K – $381.2K
NOI $22,872 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$294.9K
$258.1K – $344.1K
NOI $20,645 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$569.0K
$497.9K – $663.8K
NOI $39,830 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
848
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 - Separate basement apartment provides a private entrance, kitchen, and laundry hookups.
Where is this duplex located?
The property is located at 241 E UTAH AVE Tooele, UT.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,112 SF duplex built in 1996; Basement unit includes 3 bedrooms, 1 bathroom, kitchen, private entrance, and separate laundry hookups; Main‑level unit offers 3 bedrooms and 2 bathrooms
