Duplex With Private Storage
For Sale
$500,000
682 E 300 S, Spanish Fork, UT 84660
Two residential units offer matching layouts, updated mechanical features, and individual exterior storage.
Property Size1,998 SF
Price / SF$250.25
Days on Market30
Property Features for 682 E 300 S
General Information
Standard status
Active
Size
1,998 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Amenities
storage shed
Building Details
Year Built
1974
Buildings
1
Listing Agency:
Equity Real Estate (Utah)
(801) 794-7777
Listed By:
Kenny Parcell · License #5469176-BB00
Source:
Thehonorgrouputah
Added: Jul 31
Changed: Aug 28
Last Checked: Aug 25 at 5:40AM
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 (Utah)
Investment Insights
Based on property information with market context.
This 1,998-square-foot duplex, built in 1974, contains two residential units with a consistent configuration of two bedrooms and one and a half bathrooms per unit. The property includes a newer roof and furnaces, along with a separate 12-by-12 storage shed assigned to each unit.
Located at 682 E 300 S in Spanish Fork, Utah, the property provides a straightforward multifamily layout with two comparable units and dedicated storage improvements.
Located at 682 E 300 S in Spanish Fork, Utah, the property provides a straightforward multifamily layout with two comparable units and dedicated storage improvements.
Key Highlights
- Two‑unit duplex with 1,998 square feet
- Each unit includes 2 bedrooms and 1.5 bathrooms
- Newer roof and furnaces
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
$18,432
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
3.69%
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%
$368,640
$368.6K
Cap Rate 7%
$263,314
$263.3K
Cap Rate 9%
$204,800
$204.8K
Market Conditions
NOI Build-Up for 1,998 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
$26.3K $13.18/SF
− OpEx
−$7.9K −$3.95/SF
NOI
$18.4K $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%
$368,640
Cap Rate 7%
$263,314
Cap Rate 9%
$204,800
Alternative Uses
Best Use
Multifamily LT 5
$263.3K
$230.4K – $307.2K
NOI $18,432 @ 7.0% cap · market cap 3.69%
Second Best
Apartment 5plus
$242.1K
$211.9K – $282.5K
NOI $16,948 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$550.8K
$481.9K – $642.6K
NOI $38,553 @ 7.0% cap · market cap 7.71%
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
466
Businesses Nearby
Explore this area
Business Placement
Demographics for 84660, UT
45,959
Population
13,162
Households
3.5
Avg Household Size
28
Median Age
38%
College-Educated
94%
High-School Grad
362.2 sq mi
ZIP Area
127
Density / Sq Mi
$98,398
Median Household Income
$40,509
Median Earnings
$1,393
Median Rent
$452,100
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 residential units offer matching layouts, updated mechanical features, and individual exterior storage.
Where is this duplex located?
The property is located at 682 E 300 S Spanish Fork, UT.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,998 square feet; Each unit includes 2 bedrooms and 1.5 bathrooms; Newer roof and furnaces
