Two-Unit Duplex with
New
For Sale
$584,900
399 Downs Dr, Ogden, UT 84404
Both residences are occupied and have individual entrances, patios, and garage parking.
Property Size2,488 SF
Price / SF$235.09
Days on Market4
Property Features for 399 Downs Dr
General Information
Standard status
Active
Size
2,488 SF
Property subtype
Multi-Family
Building Details
Year Built
1999
Listing Agency:
Equity Real Estate
Listed By:
Elizabeth Sue Barra
(801) 696-3873
Source:
Buysalty
Added: Sep 30
Last Checked: Oct 2 at 9:20PM
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.
Built in 1999, this 2,488-square-foot duplex contains two separately accessed residences. The larger unit has three bedrooms and an attached two-car garage; the other offers two bedrooms and a one-car garage. Each residence also has its own patio, providing private outdoor space.
Both units are currently occupied. The property is at 399 Downs Dr in Ogden, near shopping, dining, schools, and everyday amenities. The two-unit layout combines distinct living spaces with separate garage and patio features.
Both units are currently occupied. The property is at 399 Downs Dr in Ogden, near shopping, dining, schools, and everyday amenities. The two-unit layout combines distinct living spaces with separate garage and patio features.
Key Highlights
- Two residential units, totaling 2,488 square feet
- Three‑bedroom residence with an attached two‑car garage
- Two‑bedroom residence with a one‑car garage
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
$24,588
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
4.20%
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%
$491,760
$491.8K
Cap Rate 7%
$351,257
$351.3K
Cap Rate 9%
$273,200
$273.2K
Market Conditions
NOI Build-Up for 2,488 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
$38.8K $15.60/SF
− Vacancy
−$3.7K −$1.48/SF
EGI
$35.1K $14.12/SF
− OpEx
−$10.5K −$4.24/SF
NOI
$24.6K $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%
$491,760
Cap Rate 7%
$351,257
Cap Rate 9%
$273,200
Alternative Uses
Best Use
Multifamily LT 5
$351.3K
$307.4K – $409.8K
NOI $24,588 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$306.1K
$267.9K – $357.2K
NOI $21,429 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$573.8K
$502.1K – $669.5K
NOI $40,169 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
Explore this area
Business Placement
Demographics for 84404, UT
66,382
Population
23,907
Households
2.8
Avg Household Size
32
Median Age
22%
College-Educated
89%
High-School Grad
96.3 sq mi
ZIP Area
689
Density / Sq Mi
$81,917
Median Household Income
$42,844
Median Earnings
$1,304
Median Rent
$352,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied and have individual entrances, patios, and garage parking.
Where is this duplex located?
The property is located at 399 Downs Dr Ogden, UT.
What is the asking price?
The asking price for this property is $584,900.
What are key features of this property?
This property features: Two residential units, totaling 2,488 square feet; Three‑bedroom residence with an attached two‑car garage; Two‑bedroom residence with a one‑car garage
