Brick Two-Unit
New
For Sale
$995,000
677 11th Ave, Salt Lake City, UT 84103
Side-by-side residences offer private garages, additional off-street parking, and city and mountain views.
Property Size3,156 SF
Price / SF$315.27
Days on Market6
Property Features for 677 11th Ave
General Information
Standard status
Active
Size
3,156 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
1950
Buildings
1
Construction
brick
Listing Agency:
Bt Dynamic Realty, LLC
Listed By:
The One Group Utah
(385) 350-2888
Source:
Theonegrouputah
Added: Sep 19
Changed: Sep 23
Last Checked: Sep 24 at 9:50AM
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 Bt Dynamic Realty, LLC
Investment Insights
Based on property information with market context.
This 1950 brick duplex contains 3,156 square feet in a side-by-side layout. Each residence includes 3 bedrooms, 2 bathrooms, a private 1-car garage, additional off-street parking, and generously sized rooms. The property suits an owner-occupant or an investor seeking two separate residential units.
Located at 677 11th Ave in Salt Lake City, the duplex offers views toward the city and mountains. The University of Utah, downtown Salt Lake City, major hospitals, and City Creek Canyon trails are minutes away, while Salt Lake City International Airport is approximately a 15-minute drive.
Located at 677 11th Ave in Salt Lake City, the duplex offers views toward the city and mountains. The University of Utah, downtown Salt Lake City, major hospitals, and City Creek Canyon trails are minutes away, while Salt Lake City International Airport is approximately a 15-minute drive.
Key Highlights
- Two‑unit side‑by‑side duplex with 3,156 square feet
- Built in 1950 with brick construction
- Each unit has 3 bedrooms and 2 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
$42,088
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%
$841,760
$841.8K
Cap Rate 7%
$601,257
$601.3K
Cap Rate 9%
$467,644
$467.6K
Market Conditions
NOI Build-Up for 3,156 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
$63.6K $20.16/SF
− Vacancy
−$3.5K −$1.11/SF
EGI
$60.1K $19.05/SF
− OpEx
−$18.0K −$5.72/SF
NOI
$42.1K $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%
$841,760
Cap Rate 7%
$601,257
Cap Rate 9%
$467,644
Alternative Uses
Best Use
Multifamily LT 5
$601.3K
$526.1K – $701.5K
NOI $42,088 @ 7.0% cap · market cap 4.23%
Second Best
Apartment 5plus
$558.5K
$488.7K – $651.6K
NOI $39,098 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$850.3K
$744.0K – $992.0K
NOI $59,519 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
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Business Placement
Demographics for 84103, UT
22,788
Population
13,528
Households
1.7
Avg Household Size
36
Median Age
66%
College-Educated
98%
High-School Grad
20.5 sq mi
ZIP Area
1,112
Density / Sq Mi
$81,386
Median Household Income
$54,787
Median Earnings
$1,374
Median Rent
$710,700
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 - Side-by-side residences offer private garages, additional off-street parking, and city and mountain views.
Where is this duplex located?
The property is located at 677 11th Ave Salt Lake City, UT.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Two‑unit side‑by‑side duplex with 3,156 square feet; Built in 1950 with brick construction; Each unit has 3 bedrooms and 2 bathrooms
