Updated Mobile
For Sale
$79,900
597 N State St E #31, Orem, UT 84057
Two-bedroom residence with refreshed interiors and seasonal recreational amenities.
Property Size672 SF
Price / SF$118.90
Days on Market31
Property Features for 597 N State St E #31
General Information
Standard status
Active
Size
672 SF
Property subtype
Land
Additional Details
Multifamily Units
1
Amenities
seasonal pool
kids' play area
Building Details
Year Built
1975
Listing Agency:
R And R Realty LLC
(435) 640-7231
Listed By:
Midway Utah Real Estate Team
(435) 640-7231
Source:
Midwayutahrealestate
Added: Jul 30
Changed: Aug 28
Last Checked: Aug 28 at 9:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of R And R Realty LLC
Investment Insights
Based on property information with market context.
This 672-square-foot mobile home offers a two-bedroom, one-bath layout with an open living and dining arrangement. Interior improvements include new flooring, updated windows, fresh paint, and a renovated kitchen equipped with a range hood. Built in 1975, the home has been updated for contemporary use while retaining a compact residential footprint.
The property is located at 597 N State St E #31 in Orem, Utah. On-site recreational features include a seasonal pool and a children’s play area. The property is offered for sale and is identified within a mobile home and RV park classification.
The property is located at 597 N State St E #31 in Orem, Utah. On-site recreational features include a seasonal pool and a children’s play area. The property is offered for sale and is identified within a mobile home and RV park classification.
Key Highlights
- 672 SF mobile home with 2 bedrooms and 1 bathroom
- Updated flooring, windows, paint, and kitchen
- Kitchen includes an updated range hood
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
$5,700
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
7.13%
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%
$114,000
$114.0K
Cap Rate 7%
$81,429
$81.4K
Cap Rate 9%
$63,333
$63.3K
Market Conditions
NOI Build-Up for 672 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
$10.9K $16.20/SF
− Vacancy
−$523 −$0.78/SF
EGI
$10.4K $15.42/SF
− OpEx
−$4.7K −$6.94/SF
NOI
$5.7K $8.48/SF
Area
Utah County, UT
Vacancy
4.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$114,000
Cap Rate 7%
$81,429
Cap Rate 9%
$63,333
Alternative Uses
Best Use
Apartment 5plus
$81.4K
$71.3K – $95.0K
NOI $5,700 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$185.2K
$162.1K – $216.1K
NOI $12,967 @ 7.0% cap · market cap 16.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,723
Businesses Nearby
Explore this area
Business Placement
Demographics for 84057, UT
38,401
Population
12,246
Households
3.1
Avg Household Size
29
Median Age
39%
College-Educated
93%
High-School Grad
6.2 sq mi
ZIP Area
6,194
Density / Sq Mi
$80,184
Median Household Income
$36,429
Median Earnings
$1,408
Median Rent
$398,400
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?
Mobile home & RV park - Two-bedroom residence with refreshed interiors and seasonal recreational amenities.
Where is this mobile home & rv park located?
The property is located at 597 N State St E #31 Orem, UT.
What is the asking price?
The asking price for this property is $79,900.
What are key features of this property?
This property features: 672 SF mobile home with 2 bedrooms and 1 bathroom; Updated flooring, windows, paint, and kitchen; Kitchen includes an updated range hood
