Side-by-Side Duplex
For Sale
$350,000
928 CAPITOL ST, Ogden, UT 84401
Side-by-side duplex with two 2-bedroom, 1-bath units, shared laundry, and fully fenced backyards.
Property Size1,380 SF
Price / SF$253.62
Days on Market63
Property Features for 928 CAPITOL ST
General Information
Standard status
Active
Size
1,380 SF
Property subtype
Duplex
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Amenities
shared laundry area
Building Details
Building Size
1,380 SF
Year Built
1903
Tenancy
Multi
Listing Agency:
Lift Realty
Listed By:
Spencer Clawson · License #6608967-PB00
(801) 636-8426
Source:
Liftrealty
Added: Jul 15
Changed: Sep 14
Last Checked: Sep 15 at 6:38AM
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 Lift Realty
Investment Insights
Based on property information with market context.
This side-by-side duplex offers two separate units, each with 2 bedrooms and 1 bathroom. Inside, both units include a spacious family room, updated vinyl plank flooring in the kitchen, and stainless steel appliances. New carpet has been installed in the family rooms and bedrooms. The basement includes a shared laundry area for both units, and the basement is not designated as livable space.
Outside, the property features a fully fenced backyard. The roof was replaced in October 2024, and HVAC updates include a new furnace for Apartment A in January 2026 and a new furnace for Apartment B in Winter 2025.
Located in Downtown Ogden, the property is positioned near restaurants, shopping, entertainment, public transportation, and recreation.
Outside, the property features a fully fenced backyard. The roof was replaced in October 2024, and HVAC updates include a new furnace for Apartment A in January 2026 and a new furnace for Apartment B in Winter 2025.
Located in Downtown Ogden, the property is positioned near restaurants, shopping, entertainment, public transportation, and recreation.
Key Highlights
- Side‑by‑side duplex (built 1903) with two 2‑bedroom, 1‑bath units
- Each unit includes a spacious family room, updated vinyl plank flooring in the kitchen, and stainless steel appliances
- New flooring updates: updated vinyl plank in kitchens, with new carpet in family rooms and bedrooms
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
$13,638
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
3.90%
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%
$272,760
$272.8K
Cap Rate 7%
$194,829
$194.8K
Cap Rate 9%
$151,533
$151.5K
Market Conditions
NOI Build-Up for 1,380 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
$21.5K $15.60/SF
− Vacancy
−$2.0K −$1.48/SF
EGI
$19.5K $14.12/SF
− OpEx
−$5.8K −$4.24/SF
NOI
$13.6K $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%
$272,760
Cap Rate 7%
$194,829
Cap Rate 9%
$151,533
Alternative Uses
Best Use
Multifamily LT 5
$194.8K
$170.5K – $227.3K
NOI $13,638 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$169.8K
$148.6K – $198.1K
NOI $11,886 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$318.3K
$278.5K – $371.3K
NOI $22,280 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
718
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Side-by-side duplex with two 2-bedroom, 1-bath units, shared laundry, and fully fenced backyards.
Where is this duplex located?
The property is located at 928 CAPITOL ST Ogden, UT.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Side‑by‑side duplex (built 1903) with two 2‑bedroom, 1‑bath units; Each unit includes a spacious family room, updated vinyl plank flooring in the kitchen, and stainless steel appliances; New flooring updates: updated vinyl plank in kitchens, with new carpet in family rooms and bedrooms
