Two-Unit Duplex with
New
For Sale
$584,900
399 DOWNS Dr, Ogden, UT 84404
Residential, Ogden, UT
Property Size2,488 SF
Lot Size0.20 Acres
Price / SF$235.09
Days on Market7
Property Features for 399 DOWNS Dr
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-1
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bathroom 5, Bedroom 5, Bathroom 3, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 4
Parking
3
Subdivision
WEST OAKS
Lot features
View: Mountain
Elementary school
Lynn
Middle school
Mound Fort
High school
Ben Lomond
Elementary school district
Ogden
Middle school district
Ogden
High school district
Ogden
Standard status
Active
APN
12-148-0005
Size
2,488 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
3749
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Amenities
private entrances
private patios
Building Details
Year built
1999
Number of units
2
Building materials
Aluminum
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Equity Real Estate
(385) 399-8719
Listed By:
Elizabeth Sue Barra
(801) 696-3873
Added: Sep 24
Changed: Sep 30
Last Checked: Sep 30 at 12:06PM
MLS# 2187887
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 2,488-square-foot duplex, built in 1999, contains two tenant-occupied residences on a 0.2-acre lot. The larger unit has three bedrooms and an attached two-car garage; the second offers two bedrooms and a one-car garage. Each residence has its own entrance and patio, providing distinct indoor and outdoor areas for the occupants.
At 399 Downs Dr in Ogden, the property is near shopping, dining, schools, and everyday services. Building features include aluminum construction, forced-air heating, an asphalt roof, and public sewer.
At 399 Downs Dr in Ogden, the property is near shopping, dining, schools, and everyday services. Building features include aluminum construction, forced-air heating, an asphalt roof, and public sewer.
Key Highlights
- Two residences totaling 2,488 square feet on a 0.2‑acre lot
- Three‑bedroom unit with an attached 2‑car garage
- Two‑bedroom unit with a 1‑car garage
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
$24,588
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
4.20%
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%
$491,760
$491.8K
Cap Rate 7%
$351,257
$351.3K
Cap Rate 9%
$273,200
$273.2K
Market Conditions
NOI Build-Up for 2,488 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
$38.8K $15.60/SF
− Vacancy
−$3.7K −$1.48/SF
EGI
$35.1K $14.12/SF
− OpEx
−$10.5K −$4.24/SF
NOI
$24.6K $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%
$491,760
Cap Rate 7%
$351,257
Cap Rate 9%
$273,200
Alternative Uses
Best Use
Multifamily LT 5
$351.3K
$307.4K – $409.8K
NOI $24,588 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$306.1K
$267.9K – $357.2K
NOI $21,429 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$573.8K
$502.1K – $669.5K
NOI $40,169 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
Explore this area
Business Placement
Demographics for 84404, UT
66,382
Population
23,907
Households
2.8
Avg Household Size
32
Median Age
22%
College-Educated
89%
High-School Grad
96.3 sq mi
ZIP Area
689
Density / Sq Mi
$81,917
Median Household Income
$42,844
Median Earnings
$1,304
Median Rent
$352,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both occupied residences have separate entrances, private patios, and individual garages.
Where is this duplex located?
The property is located at 399 DOWNS Dr Ogden, UT.
What is the asking price?
The asking price for this property is $584,900.
What are key features of this property?
This property features: Two residences totaling 2,488 square feet on a 0.2‑acre lot; Three‑bedroom unit with an attached 2‑car garage; Two‑bedroom unit with a 1‑car garage
