Side-by-Side
For Sale
$415,000
3148 W 3650 S, West Valley City, UT 84119
Residential, West Valley City, UT
Property Size1,824 SF
Lot Size0.15 Acres
Price / SF$227.52
Days on Market9
Property Features for 3148 W 3650 S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
1104
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 1
Parking
3
Subdivision
COTTAGES
Elementary school
Pioneer
Middle school
West Lake
High school
Granger
Elementary school district
Granite
Middle school district
Granite
High school district
Granite
Standard status
Active
APN
15-33-105-041
Size
1,824 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
2833
Amenities
washer/dryer hookups
fully fenced backyards
shed
Building Details
Year built
1959
Number of units
2
Architectural style
Other
Listing Agency:
Real Estate Essentials
(801) 610-9563
Listed By:
Megan Wiesen
(801) 502-4360
Added: Sep 8
Changed: Sep 15
Last Checked: Sep 16 at 8:06PM
MLS# 2184011
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 side-by-side duplex contains two units, each with 2 bedrooms and 1 bathroom. The property totals 1,824 square feet on a 0.15-acre lot and was built in 1959. Each unit includes a carport, a small storage shed, washer and dryer connections, and a fully enclosed backyard. Appliances vary by unit: the east side includes a washer, dryer, and refrigerator, while the west-side tenants own their refrigerator and laundry appliances.
The duplex is located at 3148 W 3650 S in West Valley City, Utah, within Salt Lake County. The sale also requires the adjacent 1-bedroom, 1-bathroom home with a two-car garage to be purchased with the duplex. Showings require a minimum of 24 hours’ notice.
The duplex is located at 3148 W 3650 S in West Valley City, Utah, within Salt Lake County. The sale also requires the adjacent 1-bedroom, 1-bathroom home with a two-car garage to be purchased with the duplex. Showings require a minimum of 24 hours’ notice.
Key Highlights
- Two‑unit side‑by‑side duplex with 1,824 square feet
- Each unit has 2 bedrooms and 1 bathroom
- 0.15‑acre lot with fully fenced backyards
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
$19,753
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
4.76%
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%
$395,060
$395.1K
Cap Rate 7%
$282,186
$282.2K
Cap Rate 9%
$219,478
$219.5K
Market Conditions
NOI Build-Up for 1,824 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
$29.5K $16.20/SF
− Vacancy
−$1.3K −$0.73/SF
EGI
$28.2K $15.47/SF
− OpEx
−$8.5K −$4.64/SF
NOI
$19.8K $10.83/SF
Area
West Valley City, 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%
$395,060
Cap Rate 7%
$282,186
Cap Rate 9%
$219,478
Alternative Uses
Best Use
Multifamily LT 5
$282.2K
$246.9K – $329.2K
NOI $19,753 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$254.7K
$222.9K – $297.2K
NOI $17,829 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$522.2K
$456.9K – $609.2K
NOI $36,553 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
871
Businesses Nearby
Explore this area
Business Placement
Demographics for 84119, UT
54,143
Population
16,811
Households
3.2
Avg Household Size
31
Median Age
16%
College-Educated
79%
High-School Grad
11.5 sq mi
ZIP Area
4,708
Density / Sq Mi
$66,616
Median Household Income
$35,676
Median Earnings
$1,418
Median Rent
$341,800
Median Home Value
Check the figures for this property
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 - Two separate units offer private yards, carports, and laundry hookups.
Where is this duplex located?
The property is located at 3148 W 3650 S West Valley City, UT.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Two‑unit side‑by‑side duplex with 1,824 square feet; Each unit has 2 bedrooms and 1 bathroom; 0.15‑acre lot with fully fenced backyards
