Two-Unit Duplex with Covered
New
For Sale
$551,900
425 E 900 S, Salt Lake City, UT 84111
Front and rear residences provide separate two-bedroom and one-bedroom layouts, with off-street parking and a yard.
Property Size1,636 SF
Price / SF$337.35
Days on Market2
Property Features for 425 E 900 S
General Information
Standard status
Active
Size
1,636 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Additional Details
Road Access
Yes
Amenities
covered front patio
screened porch
spacious yard
Building Details
Year Built
1901
Listing Agency:
Luxe Realty Group LLC
Listed By:
Maritie Lanza
(801) 652-8369
Source:
Redsign
Added: Sep 26
Last Checked: Sep 26 at 8:24AM
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 Luxe Realty Group LLC
Investment Insights
Based on property information with market context.
This 1,636-square-foot duplex, built in 1901, contains two distinct residences: a two-bedroom unit at the front and a one-bedroom unit at the rear. Exterior features include a covered patio at the front, a screened porch, off-street parking, and a yard. The property is identified as a legal duplex.
The building is at 425 E 900 S in Salt Lake City, with restaurants, shops, and everyday amenities nearby. Its established residential layout and outdoor areas provide a clear view of the property’s existing configuration.
The building is at 425 E 900 S in Salt Lake City, with restaurants, shops, and everyday amenities nearby. Its established residential layout and outdoor areas provide a clear view of the property’s existing configuration.
Key Highlights
- Legal duplex with 1,636 square feet
- Front residence has two bedrooms; rear unit has one bedroom
- Built in 1901
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
$21,817
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
3.95%
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%
$436,340
$436.3K
Cap Rate 7%
$311,671
$311.7K
Cap Rate 9%
$242,411
$242.4K
Market Conditions
NOI Build-Up for 1,636 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
$33.0K $20.16/SF
− Vacancy
−$1.8K −$1.11/SF
EGI
$31.2K $19.05/SF
− OpEx
−$9.4K −$5.72/SF
NOI
$21.8K $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%
$436,340
Cap Rate 7%
$311,671
Cap Rate 9%
$242,411
Alternative Uses
Best Use
Multifamily LT 5
$311.7K
$272.7K – $363.6K
NOI $21,817 @ 7.0% cap · market cap 3.95%
Second Best
Apartment 5plus
$289.5K
$253.4K – $337.8K
NOI $20,268 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$440.8K
$385.7K – $514.2K
NOI $30,853 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,412
Businesses Nearby
Explore this area
Business Placement
Demographics for 84111, UT
12,162
Population
8,635
Households
1.4
Avg Household Size
34
Median Age
55%
College-Educated
95%
High-School Grad
1.4 sq mi
ZIP Area
8,687
Density / Sq Mi
$57,188
Median Household Income
$49,490
Median Earnings
$1,294
Median Rent
$423,000
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 - Front and rear residences provide separate two-bedroom and one-bedroom layouts, with off-street parking and a yard.
Where is this duplex located?
The property is located at 425 E 900 S Salt Lake City, UT.
What is the asking price?
The asking price for this property is $551,900.
What are key features of this property?
This property features: Legal duplex with 1,636 square feet; Front residence has two bedrooms; rear unit has one bedroom; Built in 1901
