Renovated
New
For Sale
$525,000
868 S 1100 W, Salt Lake City, UT 84104
Two-unit residential property with extensive updates, separate living spaces, and convenient access to downtown Salt Lake City.
Property Size1,500 SF
Price / SF$350
Days on Market4
Property Features for 868 S 1100 W
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Building Details
Building Size
1,500 SF
Year Built
1902
Listing Agency:
Wasatch Back Mountain Properties
(801) 898-0697
Listed By:
Spencer Clawson
(801) 636-8426
Source:
Liftrealty
Added: Aug 13
Changed: Aug 16
Last Checked: Aug 16 at 5:07AM
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 Wasatch Back Mountain Properties
Investment Insights
Based on property information with market context.
This 1,500-square-foot duplex, built in 1902, has been substantially updated while retaining its two-unit configuration. Improvements include a roof replacement completed in 2024, a new furnace and evaporative cooling coils installed in 2022, and new flooring added in 2025. The property also features updated kitchens, doors, windows, plumbing, electrical systems, stucco, paint, and insulation.
Located at 868 S 1100 W in Salt Lake City, the property is positioned minutes from downtown. Both units are described as move-in ready. Property access is limited to drive-by viewing; do not disturb occupants, knock on doors, or walk the premises. Offers are to be submitted subject to a walk-through.
Located at 868 S 1100 W in Salt Lake City, the property is positioned minutes from downtown. Both units are described as move-in ready. Property access is limited to drive-by viewing; do not disturb occupants, knock on doors, or walk the premises. Offers are to be submitted subject to a walk-through.
Key Highlights
- Two‑unit duplex with 1,500 square feet
- Roof replaced in 2024
- New furnace and evaporative cooling coils installed in 2022
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
$20,004
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
3.81%
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%
$400,080
$400.1K
Cap Rate 7%
$285,771
$285.8K
Cap Rate 9%
$222,267
$222.3K
Market Conditions
NOI Build-Up for 1,500 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
$30.2K $20.16/SF
− Vacancy
−$1.7K −$1.11/SF
EGI
$28.6K $19.05/SF
− OpEx
−$8.6K −$5.72/SF
NOI
$20.0K $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%
$400,080
Cap Rate 7%
$285,771
Cap Rate 9%
$222,267
Alternative Uses
Best Use
Multifamily LT 5
$285.8K
$250.1K – $333.4K
NOI $20,004 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$265.5K
$232.3K – $309.7K
NOI $18,583 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$404.1K
$353.6K – $471.5K
NOI $28,289 @ 7.0% cap · market cap 5.39%
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
638
Businesses Nearby
Explore this area
Business Placement
Demographics for 84104, UT
23,487
Population
8,452
Households
2.8
Avg Household Size
31
Median Age
22%
College-Educated
78%
High-School Grad
21.6 sq mi
ZIP Area
1,087
Density / Sq Mi
$61,326
Median Household Income
$35,013
Median Earnings
$1,235
Median Rent
$318,100
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 - Two-unit residential property with extensive updates, separate living spaces, and convenient access to downtown Salt Lake City.
Where is this duplex located?
The property is located at 868 S 1100 W Salt Lake City, UT.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,500 square feet; Roof replaced in 2024; New furnace and evaporative cooling coils installed in 2022
