Remodeled Duplex with Separate Living
New
For Sale
$680,000
254 E 700 S, Salt Lake City, UT 84111
Residential, Salt Lake City, UT
Property Size3,159 SF
Lot Size0.07 Acres
Price / SF$215.26
Days on Market2
Property Features for 254 E 700 S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Single-Family
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 6, Bedroom 5, Bedroom 3, Bedroom 4
Parking
4
Window features
Blinds
Patio and Porch features
Patio
Exterior features
Patio: Open
Lot features
Curb & Gutter
Elementary school
Liberty
Middle school
Hillside
High school
Highland
Elementary school district
Salt Lake
Middle school district
Salt Lake
High school district
Salt Lake
Subdivision
Salt Lake City; So. Salt Lake
Standard status
Active
APN
16-07-130-001
Size
3,159 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
2361
Utilities
Heating system
Forced Air, Central, Natural Gas
Building Details
Year built
1912
Number of units
2
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Fathom Realty (Union Park)
(801) 441-1950
Listed By:
Craig Lisonbee
(801) 718-2499
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 5:06AM
MLS# 2182733
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 remodeled duplex contains approximately 3,159 square feet with 6 bedrooms, 2 bathrooms, two kitchens, and separate living areas. Flooring, kitchen cabinetry, and countertops have been updated, while walkout access and an open patio add functional exterior features. The brick building was constructed in 1912 and has forced-air central heating fueled by natural gas.
The property sits on 0.07 acres at 254 E 700 S in Salt Lake City, near downtown, Liberty Park, dining, shopping, and neighborhood amenities. It is marketed as a nonconforming-use duplex within a Single-Family zoning designation. Tenant coordination and advance notice are required for showings.
The property sits on 0.07 acres at 254 E 700 S in Salt Lake City, near downtown, Liberty Park, dining, shopping, and neighborhood amenities. It is marketed as a nonconforming-use duplex within a Single-Family zoning designation. Tenant coordination and advance notice are required for showings.
Key Highlights
- Approximately 3,159 square feet with 6 bedrooms and 2 bathrooms
- Two kitchens and separate living areas
- Updated flooring, kitchen cabinets, and countertops
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
$42,128
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
6.20%
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%
$842,560
$842.6K
Cap Rate 7%
$601,829
$601.8K
Cap Rate 9%
$468,089
$468.1K
Market Conditions
NOI Build-Up for 3,159 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
$63.7K $20.16/SF
− Vacancy
−$3.5K −$1.11/SF
EGI
$60.2K $19.05/SF
− OpEx
−$18.1K −$5.72/SF
NOI
$42.1K $13.34/SF
Area
Salt Lake City, UT
Vacancy
5.50%
Lease Rate
$20.16 /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%
$842,560
Cap Rate 7%
$601,829
Cap Rate 9%
$468,089
Alternative Uses
Best Use
Multifamily LT 5
$601.8K
$526.6K – $702.1K
NOI $42,128 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$559.1K
$489.2K – $652.3K
NOI $39,135 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$851.1K
$744.7K – $992.9K
NOI $59,576 @ 7.0% cap · market cap 8.76%
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
2,814
Businesses Nearby
Explore this area
Business Placement
Demographics for 84111, UT
12,162
Population
8,635
Households
1.4
Avg Household Size
34
Median Age
55%
College-Educated
95%
High-School Grad
1.4 sq mi
ZIP Area
8,687
Density / Sq Mi
$57,188
Median Household Income
$49,490
Median Earnings
$1,294
Median Rent
$423,000
Median Home Value
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 - Nonconforming-use property includes two kitchens, walkout access, and distinct living spaces.
Where is this duplex located?
The property is located at 254 E 700 S Salt Lake City, UT.
What is the asking price?
The asking price for this property is $680,000.
What are key features of this property?
This property features: Approximately 3,159 square feet with 6 bedrooms and 2 bathrooms; Two kitchens and separate living areas; Updated flooring, kitchen cabinets, and countertops
