Duplex With Two
For Sale
$499,900
Pending
1241 W 350 N, Provo, UT 84601
Duplex offering two bedrooms and one-and-a-half baths on each side, with long driveways, carports, and tenant-paid utilities.
Property Size2,208 SF
Days on Market53
Property Features for 1241 W 350 N
General Information
Standard status
Pending
Size
2,208 SF
Property subtype
Duplex
Building Details
Building Size
2,208 SF
Year Built
1975
Listing Agency:
Essential Real Estate LLC
Listed By:
Thayne D. Bailey · License #UT 5475414PB00
(801) 319-2975
Source:
Liftrealty
Added: Jul 17
Changed: Sep 7
Last Checked: Sep 7 at 7:41AM
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 Essential Real Estate LLC
Investment Insights
Based on property information with market context.
This duplex provides two separate residential units, each with two bedrooms and 1.5 bathrooms. Both sides include long driveways and a carport, along with a yard. Tenants are responsible for all utilities.
The property is located in a Provo neighborhood with convenient freeway access and close proximity to Center Street. An APOD is available.
The seller indicates willingness to consider seller financing with a substantial down payment. The listing is available through the listing agent for additional terms and details.
The property is located in a Provo neighborhood with convenient freeway access and close proximity to Center Street. An APOD is available.
The seller indicates willingness to consider seller financing with a substantial down payment. The listing is available through the listing agent for additional terms and details.
Key Highlights
- Duplex built in 1975 with two 2‑bedroom units and 1.5 bathrooms in each unit
- Each side includes a long driveway and a carport
- Yards included for each side
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
$23,802
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
4.76%
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%
$476,040
$476.0K
Cap Rate 7%
$340,029
$340.0K
Cap Rate 9%
$264,467
$264.5K
Market Conditions
NOI Build-Up for 2,208 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%
$476,040
Cap Rate 7%
$340,029
Cap Rate 9%
$264,467
Alternative Uses
Best Use
Multifamily LT 5
$340.0K
$297.5K – $396.7K
NOI $23,802 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$311.8K
$272.9K – $363.8K
NOI $21,828 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$609.0K
$532.8K – $710.5K
NOI $42,627 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Explore this area
Business Placement
Demographics for 84601, UT
33,986
Population
11,673
Households
2.9
Avg Household Size
27
Median Age
33%
College-Educated
86%
High-School Grad
13.3 sq mi
ZIP Area
2,555
Density / Sq Mi
$64,758
Median Household Income
$30,548
Median Earnings
$1,173
Median Rent
$370,300
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 - Duplex offering two bedrooms and one-and-a-half baths on each side, with long driveways, carports, and tenant-paid utilities.
Where is this duplex located?
The property is located at 1241 W 350 N Provo, UT.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Duplex built in 1975 with two 2‑bedroom units and 1.5 bathrooms in each unit; Each side includes a long driveway and a carport; Yards included for each side
