Renovated Duplex with Basement
For Sale
$399,000
2227 Quincy Ave, Ogden, UT 84401
Two-unit property with updated systems, separate utility metering, and a basement entrance.
Property Size2,868 SF
Price / SF$139.12
Days on Market43
Property Features for 2227 Quincy Ave
General Information
Standard status
Active
Size
2,868 SF
Property subtype
Multi-Family
Building Details
Year Built
1915
Listing Agency:
PPC Residential Division
(801) 393-2733
Listed By:
Robert Matasic
Source:
Buysalty
Added: Jul 19
Changed: Aug 29
Last Checked: Aug 29 at 4:59PM
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 PPC Residential Division
Investment Insights
Based on property information with market context.
This 2,868-square-foot duplex in Ogden was built in 1915 and received extensive improvements around 2020. Updates included electrical and plumbing systems, the roof, windows, HVAC systems, kitchens, and bathrooms with granite countertops, subway tile backsplashes, and stainless-steel appliances.
The front unit has two bedrooms and is leased through October 2026, while the rear one-bedroom unit is vacant. The property has three separate gas and electric meters, plus a third basement entrance that could support a possible additional unit or expanded living area.
The front unit has two bedrooms and is leased through October 2026, while the rear one-bedroom unit is vacant. The property has three separate gas and electric meters, plus a third basement entrance that could support a possible additional unit or expanded living area.
Key Highlights
- 2,868 SF duplex built in 1915
- Extensive capital improvements completed around 2020
- Front 2‑bedroom unit leased through October 2026
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
$28,343
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
7.10%
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%
$566,860
$566.9K
Cap Rate 7%
$404,900
$404.9K
Cap Rate 9%
$314,922
$314.9K
Market Conditions
NOI Build-Up for 2,868 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
$44.7K $15.60/SF
− Vacancy
−$4.3K −$1.48/SF
EGI
$40.5K $14.12/SF
− OpEx
−$12.1K −$4.24/SF
NOI
$28.3K $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%
$566,860
Cap Rate 7%
$404,900
Cap Rate 9%
$314,922
Alternative Uses
Best Use
Multifamily LT 5
$404.9K
$354.3K – $472.4K
NOI $28,343 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$352.9K
$308.8K – $411.7K
NOI $24,702 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$661.5K
$578.8K – $771.7K
NOI $46,304 @ 7.0% cap · market cap 11.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
712
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-unit property with updated systems, separate utility metering, and a basement entrance.
Where is this duplex located?
The property is located at 2227 Quincy Ave Ogden, UT.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,868 SF duplex built in 1915; Extensive capital improvements completed around 2020; Front 2‑bedroom unit leased through October 2026
