Income Producing Duplex Near
For Sale
$430,000
1201 S 860 W, Cedar City, UT 84720
MULTI_FAMILY - Cedar City, UT
Property Size2,004 SF
Lot Size0.29 Acres
Price / SF$214.57
Days on Market116
Property Features for 1201 S 860 W
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 3, Bathroom 1, Bedroom 1
Subdivision
NOT AVAILABLE
Elementary school
Out of Area
Middle school
Out of Area
High school
Out of Area
Standard status
Active
APN
0073509
Size
2,004 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Annual Amount
1382
Utilities
Heating system
Natural Gas
Building Details
Year built
1994
Floors in Building
2
Number of units
2
Roof type
Asphalt
Listing Agency:
ERA Realty Center
(435) 586-2777
Listed By:
Toni Carl
(435) 559-5622
Added: Apr 16
Changed: Jun 29
Last Checked: Aug 9 at 11:06AM
MLS# 26-271378
Copyright © 2026 Washington County Board of Realtors. 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 income-producing duplex is located near Southern Utah University (SUU) in Cedar City, Utah. The property has been recently remodeled and generates a monthly rental income of $2800. The main level features a 3-bedroom, 2-bathroom unit with a balcony and a spacious living room. The basement has a separate entrance and contains a 1-bedroom, 1-bathroom apartment. Recent upgrades include a new swamp cooler, new paint throughout, new LVP and tile flooring, and new appliances on the main level. The main kitchen has been remodeled, and the basement bathroom has been redone, along with new finishes throughout. The property is situated on a 0.29-acre lot. The building size is 2004 square feet.
Key Highlights
- Income‑producing up‑down duplex near SUU with main‑level 3 bed/2 bath and separate basement 1 bed/1 bath apartment
- Recently remodeled interior with new paint, new flooring (LVP and tile), and all new appliances on the main level
- Main level features a spacious living room and balcony; kitchen has been remodeled
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
$18,584
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
4.32%
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%
$371,680
$371.7K
Cap Rate 7%
$265,486
$265.5K
Cap Rate 9%
$206,489
$206.5K
Market Conditions
NOI Build-Up for 2,004 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
$27.7K $13.80/SF
− Vacancy
−$1.1K −$0.55/SF
EGI
$26.5K $13.25/SF
− OpEx
−$8.0K −$3.97/SF
NOI
$18.6K $9.27/SF
Area
Iron County, UT
Vacancy
4.00%
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%
$371,680
Cap Rate 7%
$265,486
Cap Rate 9%
$206,489
Alternative Uses
Best Use
Multifamily LT 5
$265.5K
$232.3K – $309.7K
NOI $18,584 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$236.3K
$206.8K – $275.7K
NOI $16,541 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$409.3K
$358.1K – $477.5K
NOI $28,649 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
Explore this area
Business Placement
Demographics for 84720, UT
23,607
Population
8,984
Households
2.6
Avg Household Size
28
Median Age
35%
College-Educated
95%
High-School Grad
341.5 sq mi
ZIP Area
69
Density / Sq Mi
$63,742
Median Household Income
$29,979
Median Earnings
$932
Median Rent
$357,400
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 - Recently remodeled duplex near SUU, generating $2800 monthly income.
Where is this duplex located?
The property is located at 1201 S 860 W Cedar City, UT.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Income‑producing up‑down duplex near SUU with main‑level 3 bed/2 bath and separate basement 1 bed/1 bath apartment; Recently remodeled interior with new paint, new flooring (LVP and tile), and all new appliances on the main level; Main level features a spacious living room and balcony; kitchen has been remodeled
