Duplex with Unfinished
For Sale
$519,999
Pending
4204 South Adams Avenue East, Ogden, UT 84403
Two three-bedroom units offer separate residential spaces with one side refreshed through new carpet and paint.
Property Size3,120 SF
Days on Market57
Property Features for 4204 South Adams Avenue East
General Information
Standard status
Pending
Size
3,120 SF
Property subtype
Residential / Duplex
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,953
Amenities
No
Gas: Central
Carpet, Laminate
Yes
6
2
Part
Electric Dryer Hookup, Gas Dryer Hookup
Range/Oven: Built-In
Aluminum
Lighting, Storm Windows
Building Details
Year Built
1957
Listing Agency:
Ivie Avenue Real Estate, LLC
Listed By:
Chase Carter · License #10776259
(801) 884-2577
Source:
Compass
Added: Jul 23
Changed: Sep 15
Last Checked: Sep 16 at 7:55PM
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 Ivie Avenue Real Estate, LLC
Investment Insights
Based on property information with market context.
This duplex contains two three-bedroom, one-bath units within a shared structure. One unit has received new carpet and paint and is described as move-in ready. The property also includes an unfinished basement with space identified for a potential bathroom, bedroom, or family room addition. Both units have furnaces installed in June 2026.
Located next to Ogden Country Club, the property is at 4204 South Adams Avenue East in Ogden. Interior features include central gas heating, carpet and laminate flooring, laundry hookups for both electric and gas dryers, and a built-in range/oven. Exterior improvements include aluminum siding, lighting, and storm windows.
Located next to Ogden Country Club, the property is at 4204 South Adams Avenue East in Ogden. Interior features include central gas heating, carpet and laminate flooring, laundry hookups for both electric and gas dryers, and a built-in range/oven. Exterior improvements include aluminum siding, lighting, and storm windows.
Key Highlights
- Two three‑bedroom, one‑bath units under one roof
- One unit refreshed with new carpet and paint
- Unfinished basement with space identified for a bathroom, bedroom, or family room
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
$30,834
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
5.93%
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%
$616,680
$616.7K
Cap Rate 7%
$440,486
$440.5K
Cap Rate 9%
$342,600
$342.6K
Market Conditions
NOI Build-Up for 3,120 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
$48.7K $15.60/SF
− Vacancy
−$4.6K −$1.48/SF
EGI
$44.0K $14.12/SF
− OpEx
−$13.2K −$4.24/SF
NOI
$30.8K $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%
$616,680
Cap Rate 7%
$440,486
Cap Rate 9%
$342,600
Alternative Uses
Best Use
Multifamily LT 5
$440.5K
$385.4K – $513.9K
NOI $30,834 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$383.9K
$335.9K – $447.9K
NOI $26,873 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$719.6K
$629.7K – $839.5K
NOI $50,372 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
Explore this area
Business Placement
Demographics for 84403, UT
37,847
Population
14,587
Households
2.6
Avg Household Size
33
Median Age
34%
College-Educated
93%
High-School Grad
34.0 sq mi
ZIP Area
1,113
Density / Sq Mi
$84,589
Median Household Income
$41,227
Median Earnings
$1,172
Median Rent
$392,700
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 - Two three-bedroom units offer separate residential spaces with one side refreshed through new carpet and paint.
Where is this duplex located?
The property is located at 4204 South Adams Avenue East Ogden, UT.
What is the asking price?
The asking price for this property is $519,999.
What are key features of this property?
This property features: Two three‑bedroom, one‑bath units under one roof; One unit refreshed with new carpet and paint; Unfinished basement with space identified for a bathroom, bedroom, or family room
