Side-by-Side Brick
For Sale
$675,000
434 S 900 E, Spanish Fork, UT 84660
Two-unit property with one residence remodeled in 2025 and new heating and water-heating equipment in the other.
Property Size3,240 SF
Price / SF$208.33
Days on Market41
Property Features for 434 S 900 E
General Information
Standard status
Active
Size
3,240 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1994
Construction
brick
Listing Agency:
Better Homes and Gardens Real Estate Momentum (Lehi)
(801) 216-8499
Listed By:
Aaron McIntire
Source:
Liveutah
Added: Jul 20
Changed: Aug 27
Last Checked: Aug 28 at 12:49PM
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 Better Homes and Gardens Real Estate Momentum (Lehi)
Investment Insights
Based on property information with market context.
This side-by-side duplex was built in 1994 and has a brick exterior designed for straightforward upkeep. The 434 S unit received a full remodel in 2025, while the 436 S unit was updated with a new furnace and water heater during the same year. Both residences have maintained consistent occupancy.
The property contains a reported 3240 square feet, based on a county courtesy estimate. An independent measurement is recommended. Interior photographs represent the 434 S unit.
The property contains a reported 3240 square feet, based on a county courtesy estimate. An independent measurement is recommended. Interior photographs represent the 434 S unit.
Key Highlights
- Side‑by‑side duplex with brick exterior
- 434 S unit fully remodeled in 2025
- 436 S unit has a new furnace and water heater installed in 2025
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
$29,890
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
4.43%
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%
$597,800
$597.8K
Cap Rate 7%
$427,000
$427.0K
Cap Rate 9%
$332,111
$332.1K
Market Conditions
NOI Build-Up for 3,240 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 $13.80/SF
− Vacancy
−$2.0K −$0.62/SF
EGI
$42.7K $13.18/SF
− OpEx
−$12.8K −$3.95/SF
NOI
$29.9K $9.23/SF
Area
Utah County, UT
Vacancy
4.50%
Lease Rate
$13.80 /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%
$597,800
Cap Rate 7%
$427,000
Cap Rate 9%
$332,111
Alternative Uses
Best Use
Multifamily LT 5
$427.0K
$373.6K – $498.2K
NOI $29,890 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$392.6K
$343.5K – $458.1K
NOI $27,483 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$893.1K
$781.5K – $1.04M
NOI $62,519 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,142
Businesses Nearby
Explore this area
Business Placement
Demographics for 84660, UT
45,959
Population
13,162
Households
3.5
Avg Household Size
28
Median Age
38%
College-Educated
94%
High-School Grad
362.2 sq mi
ZIP Area
127
Density / Sq Mi
$98,398
Median Household Income
$40,509
Median Earnings
$1,393
Median Rent
$452,100
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 one residence remodeled in 2025 and new heating and water-heating equipment in the other.
Where is this duplex located?
The property is located at 434 S 900 E Spanish Fork, UT.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Side‑by‑side duplex with brick exterior; 434 S unit fully remodeled in 2025; 436 S unit has a new furnace and water heater installed in 2025
