Historic Duplex with
New
For Sale
$825,000
679 5th Ave., Salt Lake City, UT 84103
Two matching residences pair historic character with modern updates and unfinished basement space.
Property Size2,262 SF
Price / SF$364.72
Days on Market6
Property Features for 679 5th Ave.
General Information
Standard status
Active
Size
2,262 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1902
Buildings
1
Construction
Victorian
Listing Agency:
Equity Real Estate (Advantage)
Listed By:
Brian Babb
(800) 785-9995
Source:
Lemonaderealestate
Added: Sep 11
Changed: Sep 15
Last Checked: Sep 15 at 6:48PM
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 Equity Real Estate (Advantage)
Investment Insights
Based on property information with market context.
Built in 1902, this Victorian duplex contains approximately 2,262 square feet across two residences. The upper unit offers two bedrooms and one bathroom, while the main-level unit provides the same bedroom and bathroom configuration. Modern updates complement the building’s historic character.
An unfinished basement adds additional space for future use but is not included in the official square footage or tax records. The property is located at 679 5th Ave. in Salt Lake City’s The Avenues area.
An unfinished basement adds additional space for future use but is not included in the official square footage or tax records. The property is located at 679 5th Ave. in Salt Lake City’s The Avenues area.
Key Highlights
- Duplex built in 1902
- Approximately 2,262 square feet
- Two residences, each with 2 bedrooms and 1 bathroom
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
$30,166
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
3.66%
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%
$603,320
$603.3K
Cap Rate 7%
$430,943
$430.9K
Cap Rate 9%
$335,178
$335.2K
Market Conditions
NOI Build-Up for 2,262 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
$45.6K $20.16/SF
− Vacancy
−$2.5K −$1.11/SF
EGI
$43.1K $19.05/SF
− OpEx
−$12.9K −$5.72/SF
NOI
$30.2K $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%
$603,320
Cap Rate 7%
$430,943
Cap Rate 9%
$335,178
Alternative Uses
Best Use
Multifamily LT 5
$430.9K
$377.1K – $502.8K
NOI $30,166 @ 7.0% cap · market cap 3.66%
Second Best
Apartment 5plus
$400.3K
$350.3K – $467.1K
NOI $28,023 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$609.4K
$533.2K – $711.0K
NOI $42,659 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,741
Businesses Nearby
Explore this area
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 - Two matching residences pair historic character with modern updates and unfinished basement space.
Where is this duplex located?
The property is located at 679 5th Ave. Salt Lake City, UT.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Duplex built in 1902; Approximately 2,262 square feet; Two residences, each with 2 bedrooms and 1 bathroom
