Furnished Duplex with Three Living
For Sale
$949,000
3452 S 2000 E, Salt Lake City, UT 84109
Fully furnished legal duplex with remodeled interiors, separate living areas, detached garage, RV parking, and updated outdoor improvements.
Property Size2,647 SF
Price / SF$358.52
Days on Market8
Property Features for 3452 S 2000 E
General Information
Standard status
Active
Size
2,647 SF
Property subtype
Duplex
Additional Details
Furnished
Yes
Multifamily Units
3
Building Details
Building Size
2,647 SF
Year Built
1914
Listing Agency:
Berkshire Hathaway HomeServices Utah Properties (Salt Lake)
(801) 867-1799
Listed By:
Julie Albert
(801) 867-1799
Source:
Liftrealty
Added: Aug 14
Changed: Aug 18
Last Checked: Aug 20 at 4:21AM
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 Berkshire Hathaway HomeServices Utah Properties (Salt Lake)
Investment Insights
Based on property information with market context.
This fully furnished duplex at 3452 S 2000 E includes three separate living spaces within a legally recognized duplex configuration, with additional Airbnb qualification noted in the property information. The 2,647-square-foot property was built in 1914 and includes a remodeled kitchen, new Trex decking, turf, xeriscaping, and new AC units serving all three living spaces. A newer furnace, owned water softener, two sheds, spacious two-car detached garage, and RV parking add practical utility.
Located in East Millcreek in Salt Lake City, the property is near outdoor recreation, schools, shopping, dining, and downtown Salt Lake City. Rental, Airbnb, zoning, and related eligibility details should be independently verified.
Located in East Millcreek in Salt Lake City, the property is near outdoor recreation, schools, shopping, dining, and downtown Salt Lake City. Rental, Airbnb, zoning, and related eligibility details should be independently verified.
Key Highlights
- Three separate living spaces within a fully furnished legal duplex
- 2,647 SF property built in 1914
- Remodeled kitchen with new AC units serving all three living spaces
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
$35,300
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
3.72%
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%
$706,000
$706.0K
Cap Rate 7%
$504,286
$504.3K
Cap Rate 9%
$392,222
$392.2K
Market Conditions
NOI Build-Up for 2,647 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
$53.4K $20.16/SF
− Vacancy
−$2.9K −$1.11/SF
EGI
$50.4K $19.05/SF
− OpEx
−$15.1K −$5.72/SF
NOI
$35.3K $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%
$706,000
Cap Rate 7%
$504,286
Cap Rate 9%
$392,222
Alternative Uses
Best Use
Multifamily LT 5
$504.3K
$441.3K – $588.3K
NOI $35,300 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$468.5K
$409.9K – $546.5K
NOI $32,792 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$713.1K
$624.0K – $832.0K
NOI $49,920 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
Explore this area
Business Placement
Demographics for 84109, UT
24,768
Population
9,829
Households
2.5
Avg Household Size
37
Median Age
69%
College-Educated
99%
High-School Grad
57.0 sq mi
ZIP Area
435
Density / Sq Mi
$136,823
Median Household Income
$63,758
Median Earnings
$1,584
Median Rent
$679,000
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 - Fully furnished legal duplex with remodeled interiors, separate living areas, detached garage, RV parking, and updated outdoor improvements.
Where is this duplex located?
The property is located at 3452 S 2000 E Salt Lake City, UT.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Three separate living spaces within a fully furnished legal duplex; 2,647 SF property built in 1914; Remodeled kitchen with new AC units serving all three living spaces
