East Midvale Duplex - Great Cash Flow

Joseph H. Mills, Principal Broker 801-971-2542

joseph@irautah.com
715 E 3900 S Suite 208 Salt Lake City, UT 84107
List Price $184,000
Annual GOI (Gross Operating Inc) $16,500
Est NOI (Net Operating Inc) $11,071
Est Cap Rate 6.02%
%
1100 SF : Year Built 1948
4 Bedrooms : 2 Bathrooms
100% Occupancy
7221-23 S 525 E
Midvale, UT 84047
Financial Summary | 7221-23 S 525 E Midvale, UT 84047

Joseph H. Mills, Principal Broker 801-971-2542
joseph@irautah.com
715 E 3900 S Suite 208 Salt Lake City, UT 84107
Month Residental Units Bed/Bath SQFT Rent/mo
Gross Scheduled Income $1,375 Unit 7223 2/1 550 $675
Vacancy Rate 3% Unit 7221 2/1 550 $700
Eectve Gross Income $1,334 4/2 1,100 $1,375
Additonal Income (coin laundry, etc) $0
Gross Operatng Income $1,334
Estmated Montly Expenses Building Specs
Gas $0 Building SQFT is 1,000
Electric $0 4 Bed/ 2 Bath
Water $60 2 driveways & Separate backyards
Trash $30 2 Gas Meters
Insurance ($480/yr) $40 2 Electric Meters
Taxes ($1304/yr) $109 2 Water Heaters
Lawn Maintenance $350/yr $29 2 Wall Furnaces
Property Management (7%) $93 2 Window A/C units
Repairs and Maintenance (est) $50
Total $411
Upgrades
List Price $184,000 Newer Roof
Monthly NOI (Net Operatng Inc) $923 Moderate updatng over past 10 years
Est Annual NOI (Net Operatng Inc) $11,071
Est Cap Rate 6.02%
Remarks: Excellent opportunity on this single level side by side duplex on a great residental street.
This duplex has a newer roof and had some basic updatng including kitchen counter tops and tle oors.
Easy to rent with a long term month to month tenant at $675/mo for the past 7 years. The other unit has a
new one year lease at $700/mo. Smaller square footage means less cost in turning over units i.e.
carpet, ooring, paint, etc.