Building Details

Building Size 4,051 SF

Year Built 2023

Listing Agency: RKE Real Estate, L.L.C.

Listed By: Roger K. Eggett · License #5489799 Show Phone

Source: Liftrealty

Added: Sep 14 Changed: Sep 23 Last Checked: Sep 24 at 9:19AM

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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 RKE Real Estate, L.L.C.

Investment Insights

Based on property information with market context.

Built in 2023, this two-unit residential property combines a primary residence with a permitted basement ADU. The main home occupies the upper two levels and includes a vaulted entry, 9-foot ceilings, a home office, open living areas, and a kitchen equipped with granite countertops, a double oven, and stainless steel appliances. The upper level adds a primary suite and three additional bedrooms with walk-in closets.

The lower residence provides two bedrooms, one bathroom, a full kitchen, 9-foot ceilings, a private entrance, and dedicated laundry. Exterior improvements include a covered patio, a 3-car garage with side parking, 400-amp electrical service, established landscaping, and a fully fenced .23-acre lot. Municipal and state rules require the owner to occupy either unit, prohibit simultaneous rental of both units to separate third-party tenants, and require a 30-day minimum lease for the ADU. The property is located at 410 E PAGES LN, Centerville, UT 84014.

Key Highlights

• Permitted basement ADU with 2 bedrooms and 1 bathroom
• Built in 2023 on a fully fenced .23‑acre lot
• Primary residence includes three additional bedrooms and a private primary suite

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

$49,735

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

4.53%

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%

$994,700 $994.7K

Cap Rate 7%

$710,500 $710.5K

Cap Rate 9%

$552,611 $552.6K

Market Conditions

NOI Build-Up for 4,051 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

$78.5K $19.38/SF

− Vacancy

−$7.5K −$1.84/SF

EGI

$71.1K $17.54/SF

− OpEx

−$21.3K −$5.26/SF

NOI

$49.7K $12.28/SF

Area

Davis County, UT

Vacancy

9.50%

Lease Rate

$19.38 /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%

$994,700

Cap Rate 7%

$710,500

Cap Rate 9%

$552,611

Alternative Uses

Best Use

Multifamily LT 5

$710.5K

$621.7K – $828.9K (±1% cap)

NOI $49,735 @ 7.0% cap · market cap 4.53%

Second Best

Apartment 5plus

$658.3K

$576.0K – $768.0K (±1% cap)

NOI $46,081 @ 7.0% cap · market cap 4.19%

Theoretical Best

Office A

$935.6K

$818.7K – $1.09M (±1% cap)

NOI $65,493 @ 7.0% cap · market cap 5.96%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Restaurant Parking Lot & Garage Building Supply Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

443

Businesses Nearby

Explore this area Business Placement

Demographics for 84014, UT

16,870

Population

5,894

Households

2.9

Avg Household Size

36

Median Age

48%

College-Educated

98%

High-School Grad

12.9 sq mi

ZIP Area

1,308

Density / Sq Mi

$118,045

Median Household Income

$49,034

Median Earnings

$1,548

Median Rent

$491,600

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Owner-occupancy rules apply; the lower residence includes a private entrance, full kitchen, and dedicated laundry.

Where is this duplex located?

The property is located at 410 E PAGES LN Centerville, UT.

What is the asking price?

The asking price for this property is $1,099,000.

What are key features of this property?

This property features: Permitted basement ADU with 2 bedrooms and 1 bathroom; Built in 2023 on a fully fenced .23‑acre lot; Primary residence includes three additional bedrooms and a private primary suite