Two-Unit Duplex with
New
For Sale
$625,000
1040 W COLUMBIA Ln, Provo, UT 84604
Residential, Provo, UT
Property Size2,210 SF
Lot Size0.21 Acres
Price / SF$282.81
Days on Market2
Property Features for 1040 W COLUMBIA Ln
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Zoning description
RC
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bedroom 5, Bedroom 2, Bathroom 1, Bedroom 1, Basement, Bathroom 2
Parking
6
Parking features
Covered
Window features
Blinds
Patio and Porch features
Patio
Interior features
Basement Apartment, Disposal, Floor Drains, Range/Oven: Free Stdng., Vaulted Ceilings, Dishwasher: Built-In
Exterior features
Basement Entrance, Double Pane Windows, Sliding Glass Doors, Walkout, Patio: Open
Accessibility
Accessible Approach with Ramp
Lot features
Curb & Gutter, Fenced: Full, Road: Paved, Sidewalks, Sprinkler: Manual- Part, View: Mountain
Elementary school
Westridge
High school
Provo
Elementary school district
Provo
Middle school district
Provo
High school district
Provo
Subdivision
Orem; Provo; Sundance
Standard status
Active
APN
19-065-0006
Size
2,210 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Annual Amount
2285
Utilities
Heating system
Central, Natural Gas, Forced Air
Building Details
Year built
1916
Number of units
2
Flooring type
Hardwood, Carpet, Tile
Building materials
Stucco
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Equity Real Estate (Select)
(801) 589-5800
Listed By:
Trevor Mills
(800) 785-9995
Added: Aug 27
Changed: Aug 28
Last Checked: Aug 28 at 7:06PM
MLS# 2181594
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Investment Insights
Based on property information with market context.
This 2,210-square-foot duplex contains two separate residential units on a 0.21-acre lot. Interior features include a basement apartment, vaulted ceilings, hardwood, carpet, tile, built-in dishwasher, freestanding range/oven, disposal, and floor drains. Central forced-air heating is powered by natural gas, and the exterior is finished in stucco with double-pane windows, sliding glass doors, an open patio, and a walkout configuration.
The property includes covered parking and an accessible approach with ramp. A basement entrance adds a separate access point, while the two-unit layout provides distinct residential spaces within the building. Constructed in 1916, the property is zoned Multi-Family and has an asphalt roof.
The property includes covered parking and an accessible approach with ramp. A basement entrance adds a separate access point, while the two-unit layout provides distinct residential spaces within the building. Constructed in 1916, the property is zoned Multi-Family and has an asphalt roof.
Key Highlights
- Two‑unit duplex with 2,210 square feet of property area
- 0.21‑acre lot with Multi‑Family zoning
- Basement apartment with separate basement entrance and walkout configuration
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
$23,823
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
3.81%
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%
$476,460
$476.5K
Cap Rate 7%
$340,329
$340.3K
Cap Rate 9%
$264,700
$264.7K
Market Conditions
NOI Build-Up for 2,210 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
$35.8K $16.20/SF
− Vacancy
−$1.8K −$0.80/SF
EGI
$34.0K $15.40/SF
− OpEx
−$10.2K −$4.62/SF
NOI
$23.8K $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%
$476,460
Cap Rate 7%
$340,329
Cap Rate 9%
$264,700
Alternative Uses
Best Use
Multifamily LT 5
$340.3K
$297.8K – $397.1K
NOI $23,823 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$312.1K
$273.1K – $364.1K
NOI $21,847 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$609.5K
$533.3K – $711.1K
NOI $42,666 @ 7.0% cap · market cap 6.83%
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
1,725
Businesses Nearby
Explore this area
Business Placement
Demographics for 84604, UT
45,503
Population
13,285
Households
3.4
Avg Household Size
26
Median Age
56%
College-Educated
98%
High-School Grad
94.8 sq mi
ZIP Area
480
Density / Sq Mi
$74,522
Median Household Income
$16,799
Median Earnings
$1,128
Median Rent
$520,500
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 accompanies two separate residential units with covered parking and a walkout basement entrance.
Where is this duplex located?
The property is located at 1040 W COLUMBIA Ln Provo, UT.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,210 square feet of property area; 0.21‑acre lot with Multi‑Family zoning; Basement apartment with separate basement entrance and walkout configuration
