Side-by-Side
For Sale
$450,000
1084 E 620 N, Provo, UT 84606
Two separate residences support flexible rental or owner-occupant use near BYU campus.
Property Size1,331 SF
Price / SF$338.09
Days on Market38
Property Features for 1084 E 620 N
General Information
Standard status
Active
Size
1,331 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1944
Listing Agency:
Paradise Real Estate
(385) 352-6210
Listed By:
Belknap Team
(385) 352-6210
Source:
Forsaleutahrealestate
Added: Jul 23
Changed: Aug 28
Last Checked: Aug 28 at 10:17AM
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 Paradise Real Estate
Investment Insights
Based on property information with market context.
Built in 1944, this side-by-side duplex contains two separate one-bedroom, one-bath residences. The property offers a straightforward two-unit configuration, with each dwelling providing its own living arrangement within the building.
Recent property work includes a roof update, refreshed interior paint, and newly installed carpeting. The address is in Provo, minutes from the BYU campus, and each unit is zoned for a family or up to 3 unrelated occupants, subject to buyer verification. The home is being sold in as-is condition.
Recent property work includes a roof update, refreshed interior paint, and newly installed carpeting. The address is in Provo, minutes from the BYU campus, and each unit is zoned for a family or up to 3 unrelated occupants, subject to buyer verification. The home is being sold in as-is condition.
Key Highlights
- Two side‑by‑side units, each with 1 bedroom and 1 bathroom
- Roof update, refreshed interior paint, and newly installed carpet
- Built in 1944
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
$14,348
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
3.19%
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%
$286,960
$287.0K
Cap Rate 7%
$204,971
$205.0K
Cap Rate 9%
$159,422
$159.4K
Market Conditions
NOI Build-Up for 1,331 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
$21.6K $16.20/SF
− Vacancy
−$1.1K −$0.80/SF
EGI
$20.5K $15.40/SF
− OpEx
−$6.1K −$4.62/SF
NOI
$14.3K $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%
$286,960
Cap Rate 7%
$204,971
Cap Rate 9%
$159,422
Alternative Uses
Best Use
Multifamily LT 5
$205.0K
$179.4K – $239.1K
NOI $14,348 @ 7.0% cap · market cap 3.19%
Second Best
Apartment 5plus
$188.0K
$164.5K – $219.3K
NOI $13,158 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$367.1K
$321.2K – $428.3K
NOI $25,696 @ 7.0% cap · market cap 5.71%
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
717
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences support flexible rental or owner-occupant use near BYU campus.
Where is this duplex located?
The property is located at 1084 E 620 N Provo, UT.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two side‑by‑side units, each with 1 bedroom and 1 bathroom; Roof update, refreshed interior paint, and newly installed carpet; Built in 1944
