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    Millcreek Duplex: Investment Opportunity Title is generated by Realmo AI

    2905 S 2000 E, Salt Lake City, UT 84109

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    For Sale
    $745,000

    MULTI_FAMILY - Other - Salt Lake City, UT

    Property size:
    3,066 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $242/SF
    Added:
    Dec 16, 2025
    Days on Market:
    152
    Last Refresh:
    May 17 at 8:06 am

    Property Features for 2905 S 2000 E

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Multi-Family
    Bedrooms
    7
    Bathrooms
    5
    Rooms
    Bedroom 5, Bathroom 5, Bedroom 6, Bedroom 7, Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1
    Parking
    6
    Interior features
    Range/Oven: Free Stdng., Dishwasher: Built-In
    Exterior features
    Out Buildings
    Standard status
    Active
    APN
    16-27-106-016
    Size
    3,066 SF
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3793

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Central

    Building Details

    Year built
    1984
    Number of units
    2
    Flooring type
    Hardwood, Laminate, Carpet, Tile
    Building materials
    Aluminum, Brick
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    J Hunter Virden

    Listing agent J Hunter Virden

    Listing office Real Estate Essentials 9980 S 300 W Ste 300, Midvale, UT

    Listing date Dec 16, 2025

    MLS# 2127893 Listing URL

    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.

    HighLights

    • Strong Rental Income Potential: Combined monthly rental income of $4,080.
    • High Cap Rate: Attractive 6.3% CAP rate for investors.
    • Versatile Living Options: Suitable for owner‑occupants, investors, or live‑and‑rent scenarios.
    • Prime Millcreek Location: Close to parks, shopping, dining, and everyday conveniences.
    • Modern Upgrades & Spacious Layouts: Each unit features thoughtful layouts and modern upgrades.
    • Commuter‑Friendly: Easy access to I‑80, Wasatch Blvd, Salt Lake City, and the University of Utah.

    Overview

    Located in Millcreek, this well-maintained duplex at 2905 S 2000 E, Salt Lake City, UT 84109 offers comfortable living and strong rental/investment appeal. Each unit features thoughtful layouts and modern upgrades. Unit A features 4 bedrooms and 2.5 bathrooms. The rent income for Unit A is $2,290 per month. Unit B features 3 bedrooms and 2 bathrooms and is easy to rent. The rental income for Unit B is $1,790 per month. The property is set on a lot of 0.14 acres with a shared driveway and plenty of parking. The property is located close to I-80 and Wasatch Blvd, providing easy access to Salt Lake City, Big Cottonwood Canyon, and the University of Utah. Grocery stores, coffee shops, and services are a short walk or drive away. The property is also located minutes from Millcreek City Park, Canyon Rim Market, local cafes, restaurants, and nearby retail along 2300 E and 3300 S. The property's size is 3,066 square feet. The property's cap rate is 6.3%.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $454.3K
    NOI $40,888 @ 9.00% cap · cautious / downside scenario
    Moderate
    $584.1K
    NOI $40,888 @ 7.00% cap · market / base-case scenario
    Aggressive
    $817.8K
    NOI $40,888 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $61.8k $20.16
    − Vacancy −$3.4k −$1.11
    EGI $58.4k $19.05
    − OpEx −$17.5k −$5.72
    NOI $40.9k $13.34
    3,066 SF · lease $20.16/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $584.1K
    $511.1K – $681.5K (±1% cap)
    NOI $40,888 @ 7.0% cap · market cap 5.49%
    Second Best
    Apartment 5plus
    $542.6K
    $474.8K – $633.1K (±1% cap)
    NOI $37,983 @ 7.0% cap · market cap 5.10%
    Theoretical Best
    Office A
    $826.0K
    $722.8K – $963.7K (±1% cap)
    NOI $57,822 @ 7.0% cap · market cap 7.76%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Pharmacy Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.833776
    Latitude
    40.708016

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    FAQs

    What type of property is this?
    Duplex - Well-maintained duplex in Millcreek with strong rental income potential.
    Where is this duplex located?
    The property is located at 2905 S 2000 E Salt Lake City, UT.
    What is the asking price?
    The asking price for this property is $745,000.
    What are key features of this property?
    This property features: Strong Rental Income Potential: Combined monthly rental income of $4,080.; High Cap Rate: Attractive 6.3% CAP rate for investors.; Versatile Living Options: Suitable for owner‑occupants, investors, or live‑and‑rent scenarios.
    (801) 259-5565
    We can help!
    Listing Contact
    J Hunter Virden
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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