Corner-Lot
For Sale
$359,900
668 E 37th St, Ogden, UT 84403
Two-unit property includes a studio-style second residence and parking for multiple vehicles.
Property Size1,840 SF
Price / SF$195.60
Days on Market45
Property Features for 668 E 37th St
General Information
Standard status
Active
Size
1,840 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x studio
Multifamily Units
2
Building Details
Year Built
1962
Buildings
1
Listing Agency:
Iconic: Realty Network, LLP
(801) 643-0351
Listed By:
Michael McGee, JEREMY CRIVELLO
Source:
Buysalty
Added: Jul 17
Changed: Aug 29
Last Checked: Aug 26 at 6:34AM
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 Iconic: Realty Network, LLP
Investment Insights
Based on property information with market context.
This duplex contains 1,840 square feet on a corner parcel measuring nearly one-quarter acre. The second unit is arranged as a studio, while interior finishes include tile, laminate, and carpet along with walk-in closets, window blinds, and double-pane windows. Built-in range/oven equipment, an electric dryer, and smoke and fire alarm systems are also included.
The property is located at 668 37TH in Ogden, Utah. Exterior improvements include asphalt surfaces, eight parking spaces, RV parking, a paved road, an outbuilding, and a sprinkler system. The combination of a two-unit layout, studio configuration, and existing parking supports flexible residential use.
The property is located at 668 37TH in Ogden, Utah. Exterior improvements include asphalt surfaces, eight parking spaces, RV parking, a paved road, an outbuilding, and a sprinkler system. The combination of a two-unit layout, studio configuration, and existing parking supports flexible residential use.
Key Highlights
- Duplex with 1,840 square feet of building area
- Nearly 1/4‑acre corner lot
- Second unit configured as a studio
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
$18,184
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
5.05%
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%
$363,680
$363.7K
Cap Rate 7%
$259,771
$259.8K
Cap Rate 9%
$202,044
$202.0K
Market Conditions
NOI Build-Up for 1,840 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
$28.7K $15.60/SF
− Vacancy
−$2.7K −$1.48/SF
EGI
$26.0K $14.12/SF
− OpEx
−$7.8K −$4.24/SF
NOI
$18.2K $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%
$363,680
Cap Rate 7%
$259,771
Cap Rate 9%
$202,044
Alternative Uses
Best Use
Multifamily LT 5
$259.8K
$227.3K – $303.1K
NOI $18,184 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$226.4K
$198.1K – $264.1K
NOI $15,848 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$424.4K
$371.3K – $495.1K
NOI $29,707 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
716
Businesses Nearby
Explore this area
Business Placement
Demographics for 84403, UT
37,847
Population
14,587
Households
2.6
Avg Household Size
33
Median Age
34%
College-Educated
93%
High-School Grad
34.0 sq mi
ZIP Area
1,113
Density / Sq Mi
$84,589
Median Household Income
$41,227
Median Earnings
$1,172
Median Rent
$392,700
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-unit property includes a studio-style second residence and parking for multiple vehicles.
Where is this duplex located?
The property is located at 668 E 37th St Ogden, UT.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Duplex with 1,840 square feet of building area; Nearly 1/4‑acre corner lot; Second unit configured as a studio
