Two-Unit Duplex
For Sale
$500,000
3419 S Mockingbird Way, West Valley City, UT 84119
Separate residences support an owner-occupant strategy or continued leasing with one unit currently occupied.
Property Size2,006 SF
Price / SF$249.25
Days on Market9
Property Features for 3419 S Mockingbird Way
General Information
Standard status
Active
Size
2,006 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1978
Listing Agency:
Utah Select Realty PC
(801) 636-8426
Listed By:
Heather Robins · License #6608967-PB00
Source:
Buysalty
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 30 at 8:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Utah Select Realty PC
Investment Insights
Based on property information with market context.
This duplex contains 2,006 square feet arranged as two separate residences, with each unit offering two bedrooms and one bathroom. Constructed in 1978, the property provides a straightforward two-unit configuration for an owner-occupant or an investor seeking residential rental income.
One residence is occupied, while the other is vacant for showing and lease-up purposes. The seller reports no vacancy during the ownership period, and the occupied unit provides ongoing rental income. The vacant unit gives a new owner flexibility to establish a tenancy or live on site while retaining income from the other residence.
One residence is occupied, while the other is vacant for showing and lease-up purposes. The seller reports no vacancy during the ownership period, and the occupied unit provides ongoing rental income. The vacant unit gives a new owner flexibility to establish a tenancy or live on site while retaining income from the other residence.
Key Highlights
- 2,006‑square‑foot duplex with two separate residences
- Each unit includes 2 bedrooms and 1 bathroom
- One unit is occupied and producing rental income
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
$21,724
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
4.34%
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%
$434,480
$434.5K
Cap Rate 7%
$310,343
$310.3K
Cap Rate 9%
$241,378
$241.4K
Market Conditions
NOI Build-Up for 2,006 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
$32.5K $16.20/SF
− Vacancy
−$1.5K −$0.73/SF
EGI
$31.0K $15.47/SF
− OpEx
−$9.3K −$4.64/SF
NOI
$21.7K $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%
$434,480
Cap Rate 7%
$310,343
Cap Rate 9%
$241,378
Alternative Uses
Best Use
Multifamily LT 5
$310.3K
$271.6K – $362.1K
NOI $21,724 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$280.1K
$245.1K – $326.8K
NOI $19,608 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$574.3K
$502.5K – $670.0K
NOI $40,200 @ 7.0% cap · market cap 8.04%
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
941
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
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 - Separate residences support an owner-occupant strategy or continued leasing with one unit currently occupied.
Where is this duplex located?
The property is located at 3419 S Mockingbird Way West Valley City, UT.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2,006‑square‑foot duplex with two separate residences; Each unit includes 2 bedrooms and 1 bathroom; One unit is occupied and producing rental income
