Updated Duplex with Off-Street
For Sale
$455,000
2122 MONROE BLVD, Ogden, UT 84401
Extensively updated duplex is fully leased with month-to-month tenants and remodeled interiors plus rear off-street parking.
Property Size2,240 SF
Price / SF$203.13
Days on Market59
Property Features for 2122 MONROE BLVD
General Information
Standard status
Active
Size
2,240 SF
Property subtype
Duplex
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Building Size
2,240 SF
Year Built
1926
Tenancy
Multi
Listing Agency:
Equity Real Estate
(385) 399-8719
Listed By:
Jackson Kade Lucero
(801) 866-7109
Source:
Liftrealty
Added: Jul 7
Changed: Sep 3
Last Checked: Sep 2 at 4:43PM
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 Equity Real Estate
Investment Insights
Based on property information with market context.
This legally zoned duplex is fully leased with month-to-month tenants and a combined monthly rental income of $2,513. The property has been extensively updated with new flooring and remodeled kitchens and bathrooms in both units, along with major system improvements including updated plumbing and electrical, furnaces, water heaters, and approximately 4-year-old central A/C units.
Exterior improvements include an updated roof, a newer driveway providing convenient off-street parking in the rear, and automatic sprinklers in the front yard. Located near shopping, dining, schools, parks, and commuter routes, the duplex is positioned for turnkey operation.
Buyer is advised that any square footage figures are provided as an estimate only and were obtained from county records; an independent measurement is recommended.
Exterior improvements include an updated roof, a newer driveway providing convenient off-street parking in the rear, and automatic sprinklers in the front yard. Located near shopping, dining, schools, parks, and commuter routes, the duplex is positioned for turnkey operation.
Buyer is advised that any square footage figures are provided as an estimate only and were obtained from county records; an independent measurement is recommended.
Key Highlights
- Legally zoned duplex built in 1926, fully leased with combined monthly rental income of $2,513.
- Tenants are month‑to‑month, supporting flexible occupancy and ongoing cash flow.
- Extensively updated interiors with new flooring, remodeled kitchens and bathrooms in both units.
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
$22,137
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
4.87%
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%
$442,740
$442.7K
Cap Rate 7%
$316,243
$316.2K
Cap Rate 9%
$245,967
$246.0K
Market Conditions
NOI Build-Up for 2,240 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
$34.9K $15.60/SF
− Vacancy
−$3.3K −$1.48/SF
EGI
$31.6K $14.12/SF
− OpEx
−$9.5K −$4.24/SF
NOI
$22.1K $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%
$442,740
Cap Rate 7%
$316,243
Cap Rate 9%
$245,967
Alternative Uses
Best Use
Multifamily LT 5
$316.2K
$276.7K – $369.0K
NOI $22,137 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$275.6K
$241.2K – $321.6K
NOI $19,293 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$516.6K
$452.1K – $602.8K
NOI $36,165 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,041
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 - Extensively updated duplex is fully leased with month-to-month tenants and remodeled interiors plus rear off-street parking.
Where is this duplex located?
The property is located at 2122 MONROE BLVD Ogden, UT.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: Legally zoned duplex built in 1926, fully leased with combined monthly rental income of $2,513.; Tenants are month‑to‑month, supporting flexible occupancy and ongoing cash flow.; Extensively updated interiors with new flooring, remodeled kitchens and bathrooms in both units.
