Updated Duplex with Detached
For Sale
$435,000
241 E UTAH Ave, Tooele, UT 84074
Residential, Tooele, UT
Property Size2,112 SF
Lot Size0.18 Acres
Price / SF$205.97
Days on Market50
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
Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 1, Bathroom 3, Bathroom 2, Basement, Bedroom 3, Bedroom 1
Parking
5
Parking features
Tandem
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
Natural Gas, Forced Air, Central
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
Changed: Sep 13
Last Checked: Sep 24 at 4:06AM
MLS# 2176880
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Investment Insights
Based on property information with market context.
This 2,112-square-foot residential property on a 0.18-acre lot offers a two-level living arrangement with separate spaces. The upper residence includes a family room, kitchen, dining area, three bedrooms, two bathrooms, and laundry area. The basement apartment provides three bedrooms, one bathroom, its own kitchen, separate laundry hookups, and a private entrance. Both kitchens feature quartz countertops and stainless steel appliances, while the bathrooms include updated LVP flooring, epoxied tubs, and vanities.
A large detached garage serves the rear of the property, which also provides tandem parking. Major systems include a newer roof, furnace, AC, and water heater. The home was built in 1996 and has central forced-air heating, natural gas service, public sewer, double-pane windows, and an asphalt roof. The property is located at 241 E UTAH Ave in Tooele, Utah, and is zoned Single-Family.
A large detached garage serves the rear of the property, which also provides tandem parking. Major systems include a newer roof, furnace, AC, and water heater. The home was built in 1996 and has central forced-air heating, natural gas service, public sewer, double-pane windows, and an asphalt roof. The property is located at 241 E UTAH Ave in Tooele, Utah, and is zoned Single-Family.
Key Highlights
- Separate basement apartment with 3 bedrooms, 1 bathroom, kitchen, laundry hookups, and private entrance
- 2,112 square feet on a 0.18‑acre lot
- Upper residence includes 3 bedrooms, 2 bathrooms, family room, kitchen, dining area, and laundry
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
5.26%
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 5.26%
Second Best
Apartment 5plus
$294.9K
$258.1K – $344.1K
NOI $20,645 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$569.0K
$497.9K – $663.8K
NOI $39,830 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - The property combines a main residence with a separate basement apartment and private entrance.
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 $435,000.
What are key features of this property?
This property features: Separate basement apartment with 3 bedrooms, 1 bathroom, kitchen, laundry hookups, and private entrance; 2,112 square feet on a 0.18‑acre lot; Upper residence includes 3 bedrooms, 2 bathrooms, family room, kitchen, dining area, and laundry
