Remodeled
For Sale
$465,000
263 E CENTER St, Spanish Fork, UT 84660
Residential, Spanish Fork, UT
Property Size2,020 SF
Lot Size0.14 Acres
Price / SF$230.20
Days on Market131
Property Features for 263 E CENTER St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 4
Interior features
Disposal, Kitchen: Updated, Range/Oven: Free Stdng., Dishwasher: Built-In
Exterior features
Basement Entrance
Lot features
Curb & Gutter, Fenced: Part, Road: Paved, Sidewalks, View: Mountain
Elementary school
Rees
Middle school
Spanish Fork Jr
High school
Spanish Fork
Elementary school district
Nebo
Middle school district
Nebo
High school district
Nebo
Subdivision
Sp Fork; Mapleton; Benjamin
Standard status
Active
APN
07-045-0027
Size
2,020 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
2203
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Central
Building Details
Year built
1940
Number of units
2
Flooring type
Tile
Building materials
Cedar
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Equity Real Estate (Utah)
(801) 794-7777
Listed By:
Travis J. Shepherd · License #5894363
(801) 367-1946
Added: Apr 29
Changed: Sep 2
Last Checked: Sep 6 at 12:06AM
MLS# 2154250
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 duplex contains 2,020 square feet on a 0.14-acre lot and was built in 1940. The property has undergone extensive remodeling, including updated kitchens, cabinets, countertops, bathrooms, flooring, paint, appliances, breaker boxes, and breakers. Bathroom improvements include tile surrounds and tile floors, while the interior also features a disposal, dishwasher, and freestanding range/oven. A basement entrance adds separate access to the lower level.
Mechanical updates include a newer furnace, central AC, newer asphalt roofing, and substantial replacement of plumbing and electrical components. The building has cedar construction, tile flooring, natural-gas forced-air heating, and public sewer service.
Mechanical updates include a newer furnace, central AC, newer asphalt roofing, and substantial replacement of plumbing and electrical components. The building has cedar construction, tile flooring, natural-gas forced-air heating, and public sewer service.
Key Highlights
- 2,020‑square‑foot duplex on a 0.14‑acre lot
- Extensive remodeling includes kitchens, bathrooms, flooring, paint, cabinets, and countertops
- All new appliances, including a built‑in dishwasher and freestanding range/oven
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
$18,635
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
4.01%
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%
$372,700
$372.7K
Cap Rate 7%
$266,214
$266.2K
Cap Rate 9%
$207,056
$207.1K
Market Conditions
NOI Build-Up for 2,020 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
$27.9K $13.80/SF
− Vacancy
−$1.3K −$0.62/SF
EGI
$26.6K $13.18/SF
− OpEx
−$8.0K −$3.95/SF
NOI
$18.6K $9.23/SF
Area
Utah County, UT
Vacancy
4.50%
Lease Rate
$13.80 /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%
$372,700
Cap Rate 7%
$266,214
Cap Rate 9%
$207,056
Alternative Uses
Best Use
Multifamily LT 5
$266.2K
$232.9K – $310.6K
NOI $18,635 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$244.8K
$214.2K – $285.6K
NOI $17,134 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$556.8K
$487.2K – $649.6K
NOI $38,978 @ 7.0% cap · market cap 8.38%
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
789
Businesses Nearby
Explore this area
Business Placement
Demographics for 84660, UT
45,959
Population
13,162
Households
3.5
Avg Household Size
28
Median Age
38%
College-Educated
94%
High-School Grad
362.2 sq mi
ZIP Area
127
Density / Sq Mi
$98,398
Median Household Income
$40,509
Median Earnings
$1,393
Median Rent
$452,100
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 - Updated systems, finishes, and appliances support two-unit residential use.
Where is this duplex located?
The property is located at 263 E CENTER St Spanish Fork, UT.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 2,020‑square‑foot duplex on a 0.14‑acre lot; Extensive remodeling includes kitchens, bathrooms, flooring, paint, cabinets, and countertops; All new appliances, including a built‑in dishwasher and freestanding range/oven
