Remodeled Duplex with
New
For Sale
$459,000
660 E 23RD ST S, Ogden, UT 84401
Two updated units share basement storage, laundry hookups, and onsite parking.
Property Size2 SF
Price / SF$241.96
Days on Market5
Property Features for 660 E 23RD ST S
General Information
Standard status
Active
Size
2 SF
Total Parking Spaces
4
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
laundry hookups
storage
Building Details
Building Size
2 SF
Year Built
1907
Buildings
1
Listing Agency:
Equity Real Estate (Select)
(801) 698-1624
Listed By:
Jeremy Parkin
(801) 698-1624
Source:
Liftrealty
Added: Aug 7
Changed: Aug 11
Last Checked: Aug 11 at 7:55AM
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 Equity Real Estate (Select)
Investment Insights
Based on property information with market context.
Located at 660 E 23RD ST S in Ogden, this 1897-square-foot duplex was built in 1907 and has undergone extensive remodeling. Each unit includes an updated kitchen with quartz countertops and appliances, a renovated bathroom, waterproof laminate flooring, and contemporary finishes. Additional improvements include a metal roof, newer vinyl windows, and new exterior paint.
The shared basement provides storage and separate laundry hookups for each unit. Onsite parking accommodates four vehicles. The property offers a two-unit configuration with updated interiors and practical shared-area amenities.
The shared basement provides storage and separate laundry hookups for each unit. Onsite parking accommodates four vehicles. The property offers a two-unit configuration with updated interiors and practical shared-area amenities.
Key Highlights
- 1897‑square‑foot duplex with two remodeled residential units
- Updated kitchens with quartz countertops and appliances
- Renovated bathrooms and waterproof laminate flooring 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
$18,747
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
4.08%
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%
$374,940
$374.9K
Cap Rate 7%
$267,814
$267.8K
Cap Rate 9%
$208,300
$208.3K
Market Conditions
NOI Build-Up for 1,897 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
$29.6K $15.60/SF
− Vacancy
−$2.8K −$1.48/SF
EGI
$26.8K $14.12/SF
− OpEx
−$8.0K −$4.24/SF
NOI
$18.7K $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%
$374,940
Cap Rate 7%
$267,814
Cap Rate 9%
$208,300
Alternative Uses
Best Use
Multifamily LT 5
$267.8K
$234.3K – $312.5K
NOI $18,747 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$233.4K
$204.2K – $272.3K
NOI $16,339 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$437.5K
$382.8K – $510.5K
NOI $30,627 @ 7.0% cap · market cap 6.67%
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
2,025
Businesses Nearby
Explore this area
Business Placement
Demographics for 84401, UT
42,968
Population
18,615
Households
2.3
Avg Household Size
32
Median Age
26%
College-Educated
90%
High-School Grad
30.7 sq mi
ZIP Area
1,400
Density / Sq Mi
$77,333
Median Household Income
$41,295
Median Earnings
$1,179
Median Rent
$410,700
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 updated units share basement storage, laundry hookups, and onsite parking.
Where is this duplex located?
The property is located at 660 E 23RD ST S Ogden, UT.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: 1897‑square‑foot duplex with two remodeled residential units; Updated kitchens with quartz countertops and appliances; Renovated bathrooms and waterproof laminate flooring in both units
