Remodeled Duplex with
For Sale
$424,900
660 E 23RD St S, Ogden, UT 84401
Residential, Ogden, UT
Property Size1,897 SF
Lot Size0.10 Acres
Price / SF$223.99
Days on Market33
Property Features for 660 E 23RD St S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 5, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2
Parking
4
Parking features
Covered
Window features
Blinds
Patio and Porch features
Patio
Interior features
Disposal, Kitchen: Updated, Range/Oven: Free Stdng.
Exterior features
Basement Entrance, Double Pane Windows, Lighting, Patio: Covered
Lot features
Fenced: Part, Sidewalks, View: Mountain
Elementary school
New Bridge
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
01-036-0012
Size
1,897 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
2503
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Central, Natural Gas
Amenities
shared basement with laundry hookups
storage
Building Details
Year built
1907
Floors in Building
2
Number of units
2
Flooring type
Laminate
Building materials
Brick
Roof type
Metal
Architectural style
Other
Listing Agency:
Equity Real Estate (Select)
(801) 589-5800
Listed By:
Jeremy Parkin
(801) 698-1624
Added: Aug 7
Changed: Sep 3
Last Checked: Sep 8 at 11:06PM
MLS# 2177487
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Investment Insights
Based on property information with market context.
This 1,897-square-foot duplex on a 0.1-acre lot includes two renovated residential units with updated kitchens, quartz countertops, appliances, remodeled bathrooms, waterproof laminate flooring, and contemporary finishes. The shared basement provides storage and separate laundry hookups for each unit. Additional improvements include a metal roof, newer vinyl windows, exterior paint, brick construction, natural-gas forced-air central heating, and a covered patio.
Located at 660 E 23RD St S in Ogden, Utah, the property includes covered parking for four vehicles and is served by public sewer. Built in 1907, the duplex combines updated interior components with established structural features and practical shared-area storage.
Located at 660 E 23RD St S in Ogden, Utah, the property includes covered parking for four vehicles and is served by public sewer. Built in 1907, the duplex combines updated interior components with established structural features and practical shared-area storage.
Key Highlights
- 1,897‑square‑foot duplex on a 0.1‑acre lot
- Two units with updated kitchens, quartz countertops, appliances, and remodeled bathrooms
- Shared basement with separate laundry hookups for each unit and storage
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
$18,747
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
4.41%
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%
$374,940
$374.9K
Cap Rate 7%
$267,814
$267.8K
Cap Rate 9%
$208,300
$208.3K
Market Conditions
NOI Build-Up for 1,897 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
$29.6K $15.60/SF
− Vacancy
−$2.8K −$1.48/SF
EGI
$26.8K $14.12/SF
− OpEx
−$8.0K −$4.24/SF
NOI
$18.7K $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%
$374,940
Cap Rate 7%
$267,814
Cap Rate 9%
$208,300
Alternative Uses
Best Use
Multifamily LT 5
$267.8K
$234.3K – $312.5K
NOI $18,747 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$233.4K
$204.2K – $272.3K
NOI $16,339 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$437.5K
$382.8K – $510.5K
NOI $30,627 @ 7.0% cap · market cap 7.21%
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
2,025
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 updated units feature modern kitchens, refreshed baths, separate laundry hookups, and covered parking.
Where is this duplex located?
The property is located at 660 E 23RD St S Ogden, UT.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: 1,897‑square‑foot duplex on a 0.1‑acre lot; Two units with updated kitchens, quartz countertops, appliances, and remodeled bathrooms; Shared basement with separate laundry hookups for each unit and storage
