Updated Duplex With Basement
For Sale
$399,000
2227 QUINCY Ave, Ogden, UT 84401
Residential, Ogden, UT
Property Size2,868 SF
Lot Size0.11 Acres
Price / SF$139.12
Days on Market93
Property Features for 2227 QUINCY Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 3
Parking
4
Parking features
Covered
Interior features
Closet: Walk-In, Disposal, Kitchen: Updated, Range/Oven: Free Stdng.
Exterior features
Basement Entrance, Double Pane Windows
Lot features
Fenced: Part, Road: Paved, Sidewalks, View: Mountain
Elementary school
Polk
Middle school
Mound Fort
High school
Ogden
Elementary school district
Ogden
Middle school district
Ogden
High school district
Ogden
Subdivision
Ogdn; W Hvn; Ter; Rvrdl
Standard status
Active
APN
01-063-0069
Size
2,868 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
2045
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Building Details
Year built
1915
Number of units
2
Flooring type
Carpet
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
PPC Residential Division
(801) 393-2733
Listed By:
Robert Matasic
(801) 393-2733
Added: May 29
Changed: Aug 22
Last Checked: Aug 29 at 7:06AM
MLS# 2161700
Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This legal duplex contains 2,868 square feet on a 0.11-acre lot and was built in 1915. The property includes a front two-bedroom unit and a rear one-bedroom unit, with both leases extending through July 31, 2027. A basement entrance provides access to additional space that could support a third unit or expanded living area, subject to applicable requirements.
Capital improvements completed around 2020 include electrical, plumbing, roofing, windows, HVAC systems, kitchens, and bathrooms. Interior finishes include granite countertops, subway tile backsplashes, stainless-steel appliances, carpet, and a walk-in closet. The building also has three separate gas and electric meters, a covered parking area, brick construction, an asphalt roof, central natural-gas heating, water service, and a public sewer connection. The property is located at 2227 Quincy Ave in Ogden, Utah.
Capital improvements completed around 2020 include electrical, plumbing, roofing, windows, HVAC systems, kitchens, and bathrooms. Interior finishes include granite countertops, subway tile backsplashes, stainless-steel appliances, carpet, and a walk-in closet. The building also has three separate gas and electric meters, a covered parking area, brick construction, an asphalt roof, central natural-gas heating, water service, and a public sewer connection. The property is located at 2227 Quincy Ave in Ogden, Utah.
Key Highlights
- 2,868‑square‑foot legal duplex on a 0.11‑acre lot
- Front 2‑bedroom and rear 1‑bedroom units, both leased through July 31, 2027
- Three separate gas and electric meters
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
$28,343
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
7.10%
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%
$566,860
$566.9K
Cap Rate 7%
$404,900
$404.9K
Cap Rate 9%
$314,922
$314.9K
Market Conditions
NOI Build-Up for 2,868 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
$44.7K $15.60/SF
− Vacancy
−$4.3K −$1.48/SF
EGI
$40.5K $14.12/SF
− OpEx
−$12.1K −$4.24/SF
NOI
$28.3K $9.88/SF
Area
Weber County, UT
Vacancy
9.50%
Lease Rate
$15.60 /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%
$566,860
Cap Rate 7%
$404,900
Cap Rate 9%
$314,922
Alternative Uses
Best Use
Multifamily LT 5
$404.9K
$354.3K – $472.4K
NOI $28,343 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$352.9K
$308.8K – $411.7K
NOI $24,702 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$661.5K
$578.8K – $771.7K
NOI $46,304 @ 7.0% cap · market cap 11.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
712
Businesses Nearby
Explore this area
Business Placement
Demographics for 84401, UT
42,968
Population
18,615
Households
2.3
Avg Household Size
32
Median Age
26%
College-Educated
90%
High-School Grad
30.7 sq mi
ZIP Area
1,400
Density / Sq Mi
$77,333
Median Household Income
$41,295
Median Earnings
$1,179
Median Rent
$410,700
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 leased units feature upgraded kitchens, bathrooms, HVAC, plumbing, and electrical systems.
Where is this duplex located?
The property is located at 2227 QUINCY Ave Ogden, UT.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,868‑square‑foot legal duplex on a 0.11‑acre lot; Front 2‑bedroom and rear 1‑bedroom units, both leased through July 31, 2027; Three separate gas and electric meters
