All-Brick Duplex with Extra
For Sale
$519,999
626 S 400 E #A-B, Payson, UT 84651
Income-producing duplex with tenants in place, covered parking, storage, and land behind the existing building.
Property Size2,000 SF
Price / SF$259
Days on Market12
Property Features for 626 S 400 E #A-B
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Multi-Family
Amenities
carport
storage areas
Building Details
Year Built
1966
Buildings
1
Construction
brick
Listing Agency:
Kw Utah Realtors Keller Williams
(801) 721-8150
Listed By:
Farmhouse Realty Group
(801) 721-8150
Source:
Farmhouserealty
Added: Aug 19
Changed: Aug 29
Last Checked: Aug 29 at 7:39PM
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 Kw Utah Realtors Keller Williams
Investment Insights
Based on property information with market context.
This 1966 all-brick duplex contains 2,000 square feet, with each residence configured as two bedrooms and one bathroom. The property is currently occupied by tenants and includes a two-car covered carport, additional uncovered parking, and two storage areas. The existing improvements are described as clean and well maintained.
A substantial area of land extends behind the duplex, with potential for an additional duplex subject to verification of zoning, development requirements, and feasibility. The property is located at 626 S 400 E #A-B in Payson, near the Payson Pool, schools, the entrance to Payson Canyon, and other community amenities. The two-unit layout also supports an owner-occupant arrangement with one residence available for personal use and the other rented.
A substantial area of land extends behind the duplex, with potential for an additional duplex subject to verification of zoning, development requirements, and feasibility. The property is located at 626 S 400 E #A-B in Payson, near the Payson Pool, schools, the entrance to Payson Canyon, and other community amenities. The two-unit layout also supports an owner-occupant arrangement with one residence available for personal use and the other rented.
Key Highlights
- All‑brick duplex built in 1966
- 2,000 square feet with two 2‑bedroom, 1‑bath units
- Tenants currently in place
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
$18,451
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
3.55%
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%
$369,020
$369.0K
Cap Rate 7%
$263,586
$263.6K
Cap Rate 9%
$205,011
$205.0K
Market Conditions
NOI Build-Up for 2,000 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
$27.6K $13.80/SF
− Vacancy
−$1.2K −$0.62/SF
EGI
$26.4K $13.18/SF
− OpEx
−$7.9K −$3.95/SF
NOI
$18.5K $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%
$369,020
Cap Rate 7%
$263,586
Cap Rate 9%
$205,011
Alternative Uses
Best Use
Multifamily LT 5
$263.6K
$230.6K – $307.5K
NOI $18,451 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$242.4K
$212.1K – $282.8K
NOI $16,965 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$551.3K
$482.4K – $643.2K
NOI $38,592 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
Explore this area
Business Placement
Demographics for 84651, UT
28,416
Population
8,956
Households
3.2
Avg Household Size
29
Median Age
29%
College-Educated
94%
High-School Grad
126.7 sq mi
ZIP Area
224
Density / Sq Mi
$94,152
Median Household Income
$37,170
Median Earnings
$1,398
Median Rent
$423,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex with tenants in place, covered parking, storage, and land behind the existing building.
Where is this duplex located?
The property is located at 626 S 400 E #A-B Payson, 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: All‑brick duplex built in 1966; 2,000 square feet with two 2‑bedroom, 1‑bath units; Tenants currently in place
