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    Two-Unit Duplex with Rental Income Title is generated by Realmo AI

    2941 S MADISON Ave E, Ogden, UT 84403

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    For Sale
    $410,000

    MULTI_FAMILY - Other - Ogden, UT

    Property size:
    1,652 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $248/SF
    Added:
    May 27, 2026
    Days on Market:
    8
    Last Refresh:
    Jun 3 at 2:06 pm

    Property Features for 2941 S MADISON Ave E

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Multi-Family
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Basement, Bedroom 4
    Parking
    3
    Window features
    Blinds
    Patio and Porch features
    Patio
    Interior features
    Basement Apartment, Disposal, Kitchen: Second, Range/Oven: Free Stdng.
    Exterior features
    Basement Entrance, Patio: Covered
    Standard status
    Active
    APN
    04-032-0011
    Size
    1,652 SF
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2234

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air

    Building Details

    Year built
    1948
    Number of units
    2
    Flooring type
    Hardwood, Carpet
    Building materials
    Brick
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Lauren Bishop
    Lauren Bishop

    Listing agent Lauren Bishop

    Listing office Real Estate Essentials 9980 S 300 W Ste 300, Midvale, UT

    Listing date May 27, 2026

    MLS# 2160869 Listing URL

    Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Ogden duplex built in 1948 with two separate 2‑bedroom, 1‑bath units
    • Rents listed as $1,800/month for the upper unit and $1,200/month for the second unit
    • Each unit includes washer/dryer hookups plus refrigerator, microwave, and range/oven
    • Double pane windows; updated kitchens and baths; refinished hardwood flooring
    • Basement apartment with a basement entrance and a covered patio
    • Brick construction with forced‑air heating; public sewer and asphalt roof; 0.14‑acre lot

    Overview

    This duplex built in 1948 features two separate 2-bedroom, 1-bath units. The property has practical updates designed for day-to-day livability, including double pane windows, refinished hardwood flooring, and updated kitchens and baths. Each unit includes washer/dryer hookups along with a refrigerator, microwave, and range/oven, supporting straightforward tenant setup. Outside, the home offers uncovered parking plus street parking, and includes a semi-private, manageable yard for everyday use.

    The property is zoned for multi-family use and is conveniently located near downtown Ogden, with access to shopping, dining, commuter routes, and outdoor recreation. The combination of two independent units makes it well-suited for tenants who want privacy while keeping operations simple for the property owner.

    For investors, the unit configuration supports an owner-occupied or fully leased strategy. The upper unit is described with an $1,800/month rent, and the second unit is described with $1,200/month rent, creating a clear pathway to offset housing costs. Owner-occupants can live in one unit while renting the other to help manage mortgage exposure. Buyer is advised to obtain an independent measurement, as square footage figures are provided as a courtesy estimate only.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ogden
    County
    Weber
    State
    Utah
    Longitude
    -111.962663
    Latitude
    41.211223

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    FAQs

    What type of property is this?
    Duplex - Updated duplex offers two 2-bedroom units with rental income, parking, and a manageable yard on a .14-acre lot.
    Where is this duplex located?
    The property is located at 2941 S MADISON Ave E Ogden, UT.
    What is the asking price?
    The asking price for this property is $410,000.
    What are key features of this property?
    This property features: Ogden duplex built in 1948 with two separate 2‑bedroom, 1‑bath units; Rents listed as $1,800/month for the upper unit and $1,200/month for the second unit; Each unit includes washer/dryer hookups plus refrigerator, microwave, and range/oven
    (385) 535-0331
    We can help!
    Listing Contact
    Lauren Bishop
    Lauren Bishop
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    2941 S MADISON Ave E, Ogden, UT 84403
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