Furnished Duplex Near BYU
New
For Sale
$700,000
12 E 900 N, Provo, UT 84604
Legal converted duplex with furnished upper-level living space, included appliances, and on-site parking permitted under local regulations.
Property Size2,010 SF
Price / SF$348.26
Days on Market7
Property Features for 12 E 900 N
General Information
Standard status
Active
Size
2,010 SF
Total Parking Spaces
5
Property subtype
Duplex
Zoning
Mix-Use
Additional Details
Furnished
Yes
Multifamily Units
2
Building Details
Building Size
2,010 SF
Year Built
1928
Buildings
1
Listing Agency:
Real Estate Essentials
(801) 610-9563
Listed By:
Spencer Clawson
(801) 636-8426
Source:
Liftrealty
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 6:46PM
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 Real Estate Essentials
Investment Insights
Based on property information with market context.
This 2,010-square-foot duplex was built in 1928 and is a legal conversion within Provo’s ADU zone. The upper unit is furnished and includes appliances plus a washer and dryer, with those furnishings included in the sale. Basement storage adds functional space, while tenants are responsible for all utilities. The property is zoned Mix-Use, and the city permits up to five parking spots on site.
The duplex occupies the southwest corner of the BYU campus, next to the university’s indoor football practice facility and fieldhouse. Brick Oven is around the corner, and the broader BYU campus is within minutes. The property accommodates four unrelated individuals upstairs and three downstairs. A business license does not transfer with the property, so the new owner must apply for a separate license.
The duplex occupies the southwest corner of the BYU campus, next to the university’s indoor football practice facility and fieldhouse. Brick Oven is around the corner, and the broader BYU campus is within minutes. The property accommodates four unrelated individuals upstairs and three downstairs. A business license does not transfer with the property, so the new owner must apply for a separate license.
Key Highlights
- 2,010‑square‑foot duplex built in 1928
- Legal converted duplex in Provo’s ADU zone
- Upper unit includes furnishings, appliances, washer, and dryer
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
$25,380
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
3.63%
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%
$507,600
$507.6K
Cap Rate 7%
$362,571
$362.6K
Cap Rate 9%
$282,000
$282.0K
Market Conditions
NOI Build-Up for 2,010 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
$44.1K $21.96/SF
− Vacancy
−$3.5K −$1.76/SF
EGI
$40.6K $20.20/SF
− OpEx
−$15.2K −$7.58/SF
NOI
$25.4K $12.63/SF
Area
Provo, UT
Vacancy
8.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
37.50%
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%
$507,600
Cap Rate 7%
$362,571
Cap Rate 9%
$282,000
Alternative Uses
Best Use
Mixed Use
$362.6K
$317.3K – $423.0K
NOI $25,380 @ 7.0% cap · market cap 3.63%
Second Best
Multifamily LT 5
$309.5K
$270.8K – $361.1K
NOI $21,667 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$554.4K
$485.1K – $646.8K
NOI $38,805 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,007
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
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Frequently Asked Questions
What type of property is this?
Duplex - Legal converted duplex with furnished upper-level living space, included appliances, and on-site parking permitted under local regulations.
Where is this duplex located?
The property is located at 12 E 900 N Provo, UT.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 2,010‑square‑foot duplex built in 1928; Legal converted duplex in Provo’s ADU zone; Upper unit includes furnishings, appliances, washer, and dryer
