Eight-Bedroom
For Sale
$750,000
386 N 500 E, Provo, UT 84606
Residential, Provo, UT
Property Size2,678 SF
Lot Size0.13 Acres
Price / SF$280.06
Days on Market162
Property Features for 386 N 500 E
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 7, Bedroom 1, Bedroom 4, Bathroom 3, Bedroom 8, Bathroom 1, Bedroom 6, Bedroom 3
Parking features
Covered
Window features
Blinds
Patio and Porch features
Porch
Interior features
Kitchen: Updated, Range/Oven: Free Stdng.
Exterior features
Basement Entrance, Porch: Open
Lot features
Fenced: Full, Road: Paved, Sidewalks, View: Mountain
Elementary school
Farrer
Middle school
Dixon
High school
Provo
Elementary school district
Provo
Middle school district
Provo
High school district
Provo
Subdivision
Provo; Mamth; Springville
Standard status
Active
APN
05-064-0013
Size
2,678 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
3014
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Central
Amenities
washer/dryer hookups
Building Details
Year built
1903
Number of units
2
Flooring type
Carpet, Linoleum
Building materials
Brick, Cinder Block
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Investment Realty Advisors LLC
(435) 485-7070
Listed By:
Porter Criddle
(801) 694-5291
Added: Mar 14
Changed: Aug 22
Last Checked: Aug 22 at 2:06PM
MLS# 2143356
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Investment Insights
Based on property information with market context.
Located at 386 N 500 E in Provo, this 2,678-square-foot duplex includes two separate residential units. The larger unit offers five bedrooms and two bathrooms, while the second unit has three bedrooms and one bathroom. Both units have washer/dryer hookups, and the property includes an updated kitchen, open porch, covered parking, and a basement entrance.
The building sits on 0.13 acres and was constructed in 1903. Brick and cinder block construction, central forced-air heating with natural gas, public sewer service, and an asphalt roof are among the property features. Cosmetic improvements have been completed in recent years, and the roof was replaced in 2021. The property is near Brigham Young University South Campus and carries Multi-Family zoning.
The building sits on 0.13 acres and was constructed in 1903. Brick and cinder block construction, central forced-air heating with natural gas, public sewer service, and an asphalt roof are among the property features. Cosmetic improvements have been completed in recent years, and the roof was replaced in 2021. The property is near Brigham Young University South Campus and carries Multi-Family zoning.
Key Highlights
- 2,678‑square‑foot duplex with two residential units
- Five‑bedroom, two‑bath larger unit plus three‑bedroom, one‑bath second unit
- Both units include washer/dryer hookups
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
$28,868
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
3.85%
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%
$577,360
$577.4K
Cap Rate 7%
$412,400
$412.4K
Cap Rate 9%
$320,756
$320.8K
Market Conditions
NOI Build-Up for 2,678 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
$43.4K $16.20/SF
− Vacancy
−$2.1K −$0.80/SF
EGI
$41.2K $15.40/SF
− OpEx
−$12.4K −$4.62/SF
NOI
$28.9K $10.78/SF
Area
Provo, UT
Vacancy
4.94%
Lease Rate
$16.20 /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%
$577,360
Cap Rate 7%
$412,400
Cap Rate 9%
$320,756
Alternative Uses
Best Use
Multifamily LT 5
$412.4K
$360.9K – $481.1K
NOI $28,868 @ 7.0% cap · market cap 3.85%
Second Best
Apartment 5plus
$378.2K
$330.9K – $441.2K
NOI $26,474 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$738.6K
$646.3K – $861.7K
NOI $51,701 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,125
Businesses Nearby
Explore this area
Business Placement
Demographics for 84606, UT
33,791
Population
11,428
Households
3
Avg Household Size
25
Median Age
45%
College-Educated
95%
High-School Grad
11.6 sq mi
ZIP Area
2,913
Density / Sq Mi
$52,110
Median Household Income
$14,955
Median Earnings
$1,149
Median Rent
$407,600
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 - Multi-Family zoning, washer/dryer hookups, covered parking, and proximity to Brigham Young University South Campus.
Where is this duplex located?
The property is located at 386 N 500 E Provo, UT.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,678‑square‑foot duplex with two residential units; Five‑bedroom, two‑bath larger unit plus three‑bedroom, one‑bath second unit; Both units include washer/dryer hookups
