Duplex with Covered
New
For Sale
$549,900
608 Swenson Ave, Springville, UT 84663
Both units feature dedicated laundry, open kitchens, and fenced backyard space.
Property Size2,448 SF
Price / SF$224.63
Days on Market5
Property Features for 608 Swenson Ave
General Information
Standard status
Active
Size
2,448 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
Fenced BackYard
Building Details
Year Built
1975
Buildings
1
Listing Agency:
Ulrich REALTORS, Inc.
(801) 478-4500
Listed By:
David Jenson
Source:
Redsign
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 4:36AM
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 Ulrich REALTORS, Inc.
Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,448 square feet and was built in 1975. Each residence offers three bedrooms, one full bathroom, dedicated laundry, and an open kitchen. Covered parking is positioned alongside each unit, and the property includes a fenced backyard.
The upper unit is available for move-in and showings. The lower unit is occupied and unavailable for showings. Located in Springville near parks, shopping, and main road access, the property provides separate residential layouts within a single income-producing asset.
The upper unit is available for move-in and showings. The lower unit is occupied and unavailable for showings. Located in Springville near parks, shopping, and main road access, the property provides separate residential layouts within a single income-producing asset.
Key Highlights
- 2,448‑square‑foot duplex built in 1975
- Two units, each with 3 bedrooms and 1 full bathroom
- Dedicated laundry and open kitchens in both units
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
$22,584
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
4.11%
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%
$451,680
$451.7K
Cap Rate 7%
$322,629
$322.6K
Cap Rate 9%
$250,933
$250.9K
Market Conditions
NOI Build-Up for 2,448 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
$33.8K $13.80/SF
− Vacancy
−$1.5K −$0.62/SF
EGI
$32.3K $13.18/SF
− OpEx
−$9.7K −$3.95/SF
NOI
$22.6K $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%
$451,680
Cap Rate 7%
$322,629
Cap Rate 9%
$250,933
Alternative Uses
Best Use
Multifamily LT 5
$322.6K
$282.3K – $376.4K
NOI $22,584 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$296.6K
$259.6K – $346.1K
NOI $20,765 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$674.8K
$590.5K – $787.3K
NOI $47,237 @ 7.0% cap · market cap 8.59%
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
481
Businesses Nearby
Explore this area
Business Placement
Demographics for 84663, UT
35,647
Population
11,025
Households
3.2
Avg Household Size
29
Median Age
39%
College-Educated
95%
High-School Grad
109.7 sq mi
ZIP Area
325
Density / Sq Mi
$88,919
Median Household Income
$39,439
Median Earnings
$1,475
Median Rent
$430,600
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 - Both units feature dedicated laundry, open kitchens, and fenced backyard space.
Where is this duplex located?
The property is located at 608 Swenson Ave Springville, UT.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 2,448‑square‑foot duplex built in 1975; Two units, each with 3 bedrooms and 1 full bathroom; Dedicated laundry and open kitchens in both units
