Four-Bedroom Duplex With
New
For Sale
$975,000
632 E KENSINGTON AVE S, Salt Lake City, UT 84105
Side-by-side units provide generous living areas, two bathrooms each, and dedicated garage parking.
Property Size3,090 SF
Price / SF$315.53
Days on Market5
Property Features for 632 E KENSINGTON AVE S
General Information
Standard status
Active
Size
3,090 SF
Total Parking Spaces
2
Property subtype
Duplex
Financials
Gross Income
$70,800
Average Monthly Rent
$2,950
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Building Details
Building Size
3,090 SF
Year Built
1948
Buildings
1
Listing Agency:
Sun Property Group P.C.
(801) 231-8990
Listed By:
Tiana Stock
(801) 231-8990
Source:
Liftrealty
Added: Aug 10
Changed: Aug 14
Last Checked: Aug 14 at 5:51AM
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 Sun Property Group P.C.
Investment Insights
Based on property information with market context.
This side-by-side duplex contains 3,090 square feet and was built in 1948. Each residence includes four bedrooms, two bathrooms, generous living space, and a private single-car garage. The configuration provides two separate homes within one income-producing property, with practical layouts suited to everyday residential use.
The property is located at 632 E Kensington Ave S in Salt Lake City’s Liberty Wells neighborhood. The surrounding context includes access to downtown Salt Lake City, Liberty Park, shopping, dining, entertainment, and major transportation routes. Each side currently rents for $2,950, with total monthly rental income of $5,900.
The property is located at 632 E Kensington Ave S in Salt Lake City’s Liberty Wells neighborhood. The surrounding context includes access to downtown Salt Lake City, Liberty Park, shopping, dining, entertainment, and major transportation routes. Each side currently rents for $2,950, with total monthly rental income of $5,900.
Key Highlights
- Side‑by‑side duplex with 3,090 SF
- Each unit offers 4 bedrooms and 2 bathrooms
- Private single‑car garage assigned to each unit
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
$41,208
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
4.23%
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%
$824,160
$824.2K
Cap Rate 7%
$588,686
$588.7K
Cap Rate 9%
$457,867
$457.9K
Market Conditions
NOI Build-Up for 3,090 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
$62.3K $20.16/SF
− Vacancy
−$3.4K −$1.11/SF
EGI
$58.9K $19.05/SF
− OpEx
−$17.7K −$5.72/SF
NOI
$41.2K $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%
$824,160
Cap Rate 7%
$588,686
Cap Rate 9%
$457,867
Alternative Uses
Best Use
Multifamily LT 5
$588.7K
$515.1K – $686.8K
NOI $41,208 @ 7.0% cap · market cap 4.23%
Second Best
Apartment 5plus
$546.9K
$478.5K – $638.0K
NOI $38,280 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$832.5K
$728.4K – $971.2K
NOI $58,274 @ 7.0% cap · market cap 5.98%
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
863
Businesses Nearby
Explore this area
Business Placement
Demographics for 84105, UT
22,856
Population
10,953
Households
2.1
Avg Household Size
35
Median Age
66%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
7,373
Density / Sq Mi
$94,145
Median Household Income
$52,785
Median Earnings
$1,482
Median Rent
$632,200
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 - Side-by-side units provide generous living areas, two bathrooms each, and dedicated garage parking.
Where is this duplex located?
The property is located at 632 E KENSINGTON AVE S 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: Side‑by‑side duplex with 3,090 SF; Each unit offers 4 bedrooms and 2 bathrooms; Private single‑car garage assigned to each unit
