Updated Duplex with Detached
New
For Sale
$450,000
241 E UTAH Ave, Tooele, UT 84074
MULTI_FAMILY - Other - Tooele, UT
Property Size2,112 SF
Lot Size0.18 Acres
Price / SF$213.07
Days on Market3
Property Features for 241 E UTAH Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Single-Family
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 6, Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 2, Bedroom 4, Basement, Bedroom 3, Bedroom 5
Parking
5
Interior features
Basement Apartment, Disposal, Kitchen: Updated, Mother-in-Law Apt., Range/Oven: Built-In, Dishwasher: Built-In
Exterior features
Basement Entrance, Double Pane Windows, Out Buildings, Lighting
Lot features
Curb & Gutter, Fenced: Full, Road: Paved, Secluded, Sidewalks, Sprinkler: Auto- Full, View: Mountain
Elementary school
Old Mill
Middle school
Tooele
High school
Tooele
Elementary school district
Tooele
Middle school district
Tooele
High school district
Tooele
Subdivision
Grantsville; Tooele; Erda; StanP
Standard status
Active
APN
02-099-0-0024
Size
2,112 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
2424
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Central, Natural Gas
Building Details
Year built
1996
Number of units
2
Flooring type
Laminate
Roof type
Asphalt
Architectural style
Other
Additional Structures
Other
Listing Agency:
Realtypath LLC (Platinum)
(801) 386-5908
Listed By:
Mark Dunn
(435) 849-5914
Added: Aug 6
Last Checked: Aug 8 at 6:06AM
MLS# 2176880
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Investment Insights
Based on property information with market context.
This 2,112-square-foot duplex in Tooele includes an upper residence and a separate basement apartment. The main level offers a family room, kitchen, dining area, three bedrooms, two bathrooms, and laundry space. The lower unit includes three bedrooms, one bathroom, a private entrance, separate laundry hookups, and its own kitchen. Both kitchens feature quartz countertops and stainless steel appliances, while the bathrooms have updated flooring, tubs, and vanities. Recent improvements include the roof, furnace, air conditioning, and water heater.
The property sits on a 0.18-acre lot at 241 E Utah Ave and includes a large detached garage, additional parking, double-pane windows, laminate flooring, forced-air heating, central air, natural gas, and public sewer. Built in 1996, the property is zoned Single-Family.
The property sits on a 0.18-acre lot at 241 E Utah Ave and includes a large detached garage, additional parking, double-pane windows, laminate flooring, forced-air heating, central air, natural gas, and public sewer. Built in 1996, the property is zoned Single-Family.
Key Highlights
- 2,112‑square‑foot duplex with separate upper and basement living areas
- Basement apartment includes 3 bedrooms, 1 bathroom, private entrance, kitchen, and laundry hookups
- Upper residence 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
Property Profile
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 - Two separate living areas include updated kitchens, private basement access, and ample off-street parking.
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‑square‑foot duplex with separate upper and basement living areas; Basement apartment includes 3 bedrooms, 1 bathroom, private entrance, kitchen, and laundry hookups; Upper residence offers 3 bedrooms and 2 bathrooms
