Historic Downtown
New
For Sale
$499,900
191 S 300 W, Provo, UT 84601
Residential, Provo, UT
Property Size1,550 SF
Lot Size0.15 Acres
Price / SF$322.52
Days on Market4
Property Features for 191 S 300 W
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Zoning description
RC
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2
Parking
4
Parking features
Covered
Window features
Blinds, Drapes
Patio and Porch features
Porch, Deck
Interior features
Disposal, Kitchen: Updated, Oven: Gas, Range: Gas, Range/Oven: Free Stdng., Dishwasher: Built-In
Exterior features
Deck; Covered, Porch: Open
Lot features
Corner Lot, Sidewalks, Sprinkler: Auto- Full
Elementary school
Franklin
High school
Provo
Elementary school district
Provo
Middle school district
Provo
High school district
Provo
Subdivision
Provo; Mamth; Springville
Standard status
Active
APN
04-044-0005
Size
1,550 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
2339
Utilities
Heating system
Hot Water(Heating), Natural Gas, Central, Forced Air
Building Details
Year built
1911
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Lift Realty
(801) 609-8511
Listed By:
Thomas F Meyer
(801) 648-0081
Added: Aug 26
Changed: Aug 27
Last Checked: Aug 29 at 5:06AM
MLS# 2181217
Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1911, this brick duplex contains 1,550 square feet with three bedrooms and two bathrooms. The property retains hardwood flooring and period character while incorporating an updated kitchen, built-in dishwasher, gas range, disposal, central heating, forced air, and natural gas service. Covered parking, a covered deck, and an open porch add practical exterior features. The duplex is zoned Multi-Family and occupies a 0.15-acre lot.
Set within Provo’s Downtown Historic District, the property is near restaurants, shopping, entertainment, public transit, and the Provo Utah Rock Canyon Temple area. BYU and Utah Valley University are also identified as nearby destinations. The established two-unit configuration supports either an owner-occupant arrangement or continued rental use, as supported by the property’s legal duplex status.
Set within Provo’s Downtown Historic District, the property is near restaurants, shopping, entertainment, public transit, and the Provo Utah Rock Canyon Temple area. BYU and Utah Valley University are also identified as nearby destinations. The established two-unit configuration supports either an owner-occupant arrangement or continued rental use, as supported by the property’s legal duplex status.
Key Highlights
- Legal duplex with 1,550 square feet, three bedrooms, and two bathrooms
- Multi‑Family zoning on a 0.15‑acre lot
- Brick construction dating to 1911 with hardwood flooring
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
$16,709
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
3.34%
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%
$334,180
$334.2K
Cap Rate 7%
$238,700
$238.7K
Cap Rate 9%
$185,656
$185.7K
Market Conditions
NOI Build-Up for 1,550 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
$25.1K $16.20/SF
− Vacancy
−$1.2K −$0.80/SF
EGI
$23.9K $15.40/SF
− OpEx
−$7.2K −$4.62/SF
NOI
$16.7K $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%
$334,180
Cap Rate 7%
$238,700
Cap Rate 9%
$185,656
Alternative Uses
Best Use
Multifamily LT 5
$238.7K
$208.9K – $278.5K
NOI $16,709 @ 7.0% cap · market cap 3.34%
Second Best
Apartment 5plus
$218.9K
$191.5K – $255.4K
NOI $15,323 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$427.5K
$374.1K – $498.7K
NOI $29,924 @ 7.0% cap · market cap 5.99%
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
2,136
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 - Brick multifamily property with updated kitchen features, covered parking, and proximity to downtown Provo amenities.
Where is this duplex located?
The property is located at 191 S 300 W 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: Legal duplex with 1,550 square feet, three bedrooms, and two bathrooms; Multi‑Family zoning on a 0.15‑acre lot; Brick construction dating to 1911 with hardwood flooring
