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2206 S Lake St
Score
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Salt Lake City, UT

2206 S Lake St

787K
3 bd • 1 ba • 1,820 sf

This analysis was generated on 2/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

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List Price

$787,000

Price/Sq.Ft

$432

Year Built

1925

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Prime Sugar House location: The property is located in a highly desirable, walkable neighborhood with easy access to amenities. Homes in Sugar House generally command a premium of 10-20% compared to similar properties in other Salt Lake City neighborhoods. • ADU potential: The R-3 zoning and rear access to the garage offer the potential to build a detached ADU, which could generate rental income. ADUs in Sugar House can rent for $1200-$1800 per month. The image provided highlights the possibility of adding an ADU. • Updated mechanical systems: The listing mentions updated HVAC and electrical, which is a plus for an older home. This reduces the likelihood of immediate major repairs. • Original character: The bungalow retains original features such as oak flooring, gumwood cabinetry, and period hardware, which appeals to buyers who appreciate historic charm. The listing specifically calls out original features, which can be a selling point.

The Bad

• Only one bathroom: For a 3-bedroom home, having only one bathroom is a significant drawback for many buyers, especially families. Adding a second bathroom would require a costly renovation. The listing suggests the basement could accommodate one, but this requires further investigation. • Older home with potential maintenance issues: Built in 1925, the property is likely to require ongoing maintenance and repairs. While the listing mentions updated HVAC and electrical, the age of the plumbing, roof, and foundation should be carefully inspected. • Moderate air quality risk: Salt Lake City's air quality is a known issue, with 5 bad air days per year. This could be a concern for buyers with respiratory sensitivities. The air quality risk is scored at 4/10, which is higher than some other areas in the valley. • No room dimensions provided: The lack of room dimensions makes it difficult to assess the layout and functionality of the home. Potential buyers will need to schedule a showing to get a better sense of the space.

The Ugly

• High Estimated Insurance: The estimated insurance cost of $2833.2/year is significantly higher than the average homeowner's insurance in Utah, which is around $1200/year. This could be due to the age of the home, location, or other factors. This adds significantly to the monthly carrying costs. • Limited off-street parking: While there is a three-car garage, the listing doesn't specify the ease of access or condition. Street parking may be limited in Sugar House, especially during peak hours. • Potential for lead paint or asbestos: Given the age of the home, there is a risk of lead paint or asbestos, which could require costly remediation. Testing for these hazards is recommended. • Only one bathroom for a 3-bedroom home: This is a major drawback and could limit the property's appeal to families. Adding a second bathroom would be a significant renovation project.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Buyers seeking a walkable lifestyle: The Sugar House location offers easy access to shops, restaurants, and parks, reducing reliance on a car. The walkability score is likely high, though not explicitly provided, based on the description. • Buyers interested in ADU potential: The R-3 zoning and rear access to the garage make this property ideal for those looking to add a detached ADU for rental income or multigenerational living. A detached ADU in this area could potentially rent for $1200-$1800/month based on current market rates. • Buyers appreciating historic charm with modern updates: The bungalow retains original features while incorporating updated kitchen and mechanical systems, appealing to those who value character and convenience. Houses with original features in Sugar House tend to command a 5-10% premium over similar updated properties. • Buyers comfortable with moderate climate risks: The property's minimal flood and fire risks, coupled with moderate air quality and heat risks, make it suitable for buyers who accept some environmental factors common in Salt Lake City.

Not For

• Buyers needing multiple bathrooms: With only one bathroom, this property may not be suitable for larger families or those who prioritize bathroom space. Adding a second bathroom, as suggested in the listing, would involve renovation costs and potential permitting challenges. • Buyers seeking a large, modern home: The 1,820 sq ft bungalow, built in 1925, may feel small compared to newer construction. The layout and historic features may not appeal to those seeking open floor plans and contemporary finishes. • Buyers sensitive to air quality: Salt Lake City's moderate air quality risk, with an average of 5 bad air days per year, may be a concern for individuals with respiratory issues. Investing in air purifiers may be necessary. • Buyers on a very tight budget: While the price per square foot is reasonable for Sugar House, the overall price point of $787,000, plus potential ADU construction costs, may be prohibitive for buyers with limited financial resources.
Demographics
Area Median Income

$80,388

Property History

Price History
Ownership Timeline
$0Cash Purchase
Mar 3, 1998
Gomez,Corina EAlfonso C Cairo
Grant Deed
Transfer

Property Taxes

$1,915
2023 Tax Assessment
9.4%from previous year
Assessed Value$193,710
Tax Rate0.99%

Sunlight Analysis

Visualize how sunlight affects this property throughout the day and year.

Sunlight Analysis

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Schools

Nearby school quality by education level

Elementary

5.0/10
Average

High

5.0/10
Average

Financials

Monthly Costs
Market Rent (3 bed)

$1,051

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