Duplex with New
For Sale
$539,900
1785 N 550 W, Provo, UT 84604
Residential, Provo, UT
Property Size1,692 SF
Lot Size0.17 Acres
Price / SF$319.09
Days on Market103
Property Features for 1785 N 550 W
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Zoning description
RC
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Basement, Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 2
Parking
6
Parking features
Covered, Tandem
Window features
Blinds
Patio and Porch features
Porch, Patio
Interior features
Basement Apartment, Disposal, Range/Oven: Free Stdng., Dishwasher: Built-In
Exterior features
Basement Entrance, Lighting, Patio: Covered, Porch: Open
Lot features
Corner Lot, Curb & Gutter, Road: Paved, Sidewalks, View: Mountain
Elementary school
Edgemont
Middle school
Centennial
High school
Timpview
Elementary school district
Provo
Middle school district
Provo
High school district
Provo
Subdivision
Orem; Provo; Sundance
Standard status
Active
APN
19-066-0007
Size
1,692 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
2502
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Central
Building Details
Year built
1944
Number of units
2
Flooring type
Vinyl, Tile, Hardwood
Building materials
Stucco, Clapboard
Roof type
Asphalt
Architectural style
Other
Listing Agency:
KW WESTFIELD · Keller Williams Realty
(801) 850-5600
Listed By:
Carl Spencer
(801) 616-1244
Added: Jun 16
Changed: Sep 13
Last Checked: Sep 26 at 12:06PM
MLS# 2166075
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Investment Insights
Based on property information with market context.
This legal duplex contains 1,692 square feet within a 1944-built property on 0.17 acres. The upper apartment remains occupied, while the basement unit has been cleared for new flooring and preparation for a new owner. Both apartments offer separate entrances and exits, individual storage areas in the covered carport, and a mix of hardwood, tile, and vinyl flooring. Interior features include ranges, built-in dishwashers, disposals, and a basement apartment configuration.
The property received a new roof and a new swamp cooler for the upper unit in 2024. Heating is provided by central forced air with natural gas, and the basement includes a window AC unit. Gas and electric service are separately metered, while Google Fiber is currently paid by the owner and reimbursed by tenants. The property is located in Provo near BYU and UVU and is served by public sewer.
The property received a new roof and a new swamp cooler for the upper unit in 2024. Heating is provided by central forced air with natural gas, and the basement includes a window AC unit. Gas and electric service are separately metered, while Google Fiber is currently paid by the owner and reimbursed by tenants. The property is located in Provo near BYU and UVU and is served by public sewer.
Key Highlights
- Legal duplex with 1,692 square feet on 0.17 acres
- Upper unit occupied; basement unit cleared for new flooring and owner preparation
- New roof and new upstairs swamp cooler installed in 2024
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
$18,239
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
3.38%
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%
$364,780
$364.8K
Cap Rate 7%
$260,557
$260.6K
Cap Rate 9%
$202,656
$202.7K
Market Conditions
NOI Build-Up for 1,692 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
$27.4K $16.20/SF
− Vacancy
−$1.4K −$0.80/SF
EGI
$26.1K $15.40/SF
− OpEx
−$7.8K −$4.62/SF
NOI
$18.2K $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%
$364,780
Cap Rate 7%
$260,557
Cap Rate 9%
$202,656
Alternative Uses
Best Use
Multifamily LT 5
$260.6K
$228.0K – $304.0K
NOI $18,239 @ 7.0% cap · market cap 3.38%
Second Best
Apartment 5plus
$239.0K
$209.1K – $278.8K
NOI $16,727 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$466.6K
$408.3K – $544.4K
NOI $32,665 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,585
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 two-unit property with separate utility meters, covered parking, private storage, and updated cooling equipment.
Where is this duplex located?
The property is located at 1785 N 550 W Provo, UT.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: Legal duplex with 1,692 square feet on 0.17 acres; Upper unit occupied; basement unit cleared for new flooring and owner preparation; New roof and new upstairs swamp cooler installed in 2024
