Two-Unit Duplex with Separate
For Sale
$975,000
3965 S 1300 E #3967, Salt Lake City, UT 84124
Two residences provide separate utility metering, laundry hookups, and covered parking.
Property Size4,988 SF
Price / SF$195.47
Days on Market8
Property Features for 3965 S 1300 E #3967
General Information
Standard status
Active
Size
4,988 SF
Property subtype
Multi-Family
Occupancy
97%
Units
Unit Mix
1 x 4BR/2BA, 1 x 6BR/3BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
laundry hookups
carports
separate gas and electrical meters
Building Details
Year Built
1986
Listing Agency:
Zander Real Estate Team PLLC
Listed By:
Andrea Newby
(801) 446-2662
Source:
Lemonaderealestate
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 16 at 12:20AM
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 Zander Real Estate Team PLLC
Investment Insights
Based on property information with market context.
This 4,988-square-foot duplex, constructed in 1986, contains two residential units with a combined 10 bedrooms and five bathrooms. The first residence has four bedrooms and two bathrooms, while the second includes six bedrooms and three bathrooms. Both units are equipped with laundry hookups, and each has its own gas and electrical meters for separately managed utilities.
The property is located at 3965 S 1300 E Unit 3967 in Salt Lake City, within the Millcreek area. A shared driveway serves the residences, while separate carports provide covered parking for each unit. Reported occupancy is 97%, reflecting an established rental operation with distinct unit layouts and dedicated utility infrastructure.
The property is located at 3965 S 1300 E Unit 3967 in Salt Lake City, within the Millcreek area. A shared driveway serves the residences, while separate carports provide covered parking for each unit. Reported occupancy is 97%, reflecting an established rental operation with distinct unit layouts and dedicated utility infrastructure.
Key Highlights
- 4,988 SF duplex built in 1986
- Two units totaling 10 bedrooms and 5 bathrooms
- Unit mix includes 4 bedrooms and 2 bathrooms plus 6 bedrooms and 3 bathrooms
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
$66,519
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
6.82%
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%
$1,330,380
$1.3M
Cap Rate 7%
$950,271
$950.3K
Cap Rate 9%
$739,100
$739.1K
Market Conditions
NOI Build-Up for 4,988 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
$100.6K $20.16/SF
− Vacancy
−$5.5K −$1.11/SF
EGI
$95.0K $19.05/SF
− OpEx
−$28.5K −$5.72/SF
NOI
$66.5K $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%
$1,330,380
Cap Rate 7%
$950,271
Cap Rate 9%
$739,100
Alternative Uses
Best Use
Multifamily LT 5
$950.3K
$831.5K – $1.11M
NOI $66,519 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$882.8K
$772.4K – $1.03M
NOI $61,794 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$1.34M
$1.18M – $1.57M
NOI $94,069 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
97%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,367
Businesses Nearby
Explore this area
Business Placement
Demographics for 84124, UT
22,872
Population
8,976
Households
2.5
Avg Household Size
38
Median Age
60%
College-Educated
98%
High-School Grad
7.7 sq mi
ZIP Area
2,970
Density / Sq Mi
$117,500
Median Household Income
$53,551
Median Earnings
$1,460
Median Rent
$704,400
Median Home Value
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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 residences provide separate utility metering, laundry hookups, and covered parking.
Where is this duplex located?
The property is located at 3965 S 1300 E #3967 Salt Lake City, UT.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 4,988 SF duplex built in 1986; Two units totaling 10 bedrooms and 5 bathrooms; Unit mix includes 4 bedrooms and 2 bathrooms plus 6 bedrooms and 3 bathrooms
