Two-Unit Duplex with Covered
New
For Sale
$549,900
608 SWENSON Ave, Springville, UT 84663
Residential, Springville, UT
Property Size2,448 SF
Lot Size0.17 Acres
Price / SF$224.63
Days on Market2
Property Features for 608 SWENSON Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 6, Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 1
Parking
6
Parking features
Covered
Elementary school
Brookside
Middle school
Springville Jr
High school
Springville
Elementary school district
Nebo
Middle school district
Nebo
High school district
Nebo
Subdivision
Provo; Mamth; Springville
Standard status
Active
APN
26-034-0017
Size
2,448 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
2593
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Amenities
fenced backyard
Building Details
Year built
1975
Number of units
2
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Ulrich REALTORS, Inc.
(801) 733-6555
Listed By:
David Jenson
(801) 897-6383
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 2:06PM
MLS# 2180124
Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,448-square-foot duplex contains two residences arranged on separate levels, with one unit above the other. Each residence includes three bedrooms, a full bathroom, dedicated laundry, and an open kitchen. Covered parking is positioned alongside the building, while the backyard is enclosed by fencing. Central heating is supplied by natural gas, and the property has an asphalt roof and public sewer service.
The 0.17-acre property is located in Springville near parks, shopping, and a main road. The upper residence is available for move-in and showings; the lower residence is occupied and not available for showings. Built in 1975, the property offers a two-unit residential income configuration with distinct living spaces.
The 0.17-acre property is located in Springville near parks, shopping, and a main road. The upper residence is available for move-in and showings; the lower residence is occupied and not available for showings. Built in 1975, the property offers a two-unit residential income configuration with distinct living spaces.
Key Highlights
- Two‑unit duplex with one residence above the other
- 2,448 square feet on a 0.17‑acre lot
- Each unit has 3 bedrooms and 1 full bathroom
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 - Separate residences provide dedicated laundry, open kitchens, and fenced outdoor areas.
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: Two‑unit duplex with one residence above the other; 2,448 square feet on a 0.17‑acre lot; Each unit has 3 bedrooms and 1 full bathroom
