Updated Duplex with Historic
New
For Sale
$625,000
227 E 300 N, Provo, UT 84606
Two residential units combine period character with refreshed interiors and shared basement laundry access.
Property Size2,240 SF
Price / SF$279.02
Days on Market6
Property Features for 227 E 300 N
General Information
Standard status
Active
Size
2,240 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
basement laundry facilities
Building Details
Year Built
1925
Buildings
1
Listing Agency:
Atlas Real Estate, LLC
Listed By:
Midway Utah Real Estate Team
(435) 640-7231
Source:
Midwayutahrealestate
Added: Sep 20
Changed: Sep 24
Last Checked: Sep 24 at 9:49AM
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 Atlas Real Estate, LLC
Investment Insights
Based on property information with market context.
Built in 1925, this 2,240-square-foot duplex pairs historic residential character with practical interior updates. Both units have updated kitchens and new LVP flooring, creating a refreshed finish while retaining the appeal of an older home. Shared basement laundry facilities are accessible to both units.
The property is located a few blocks south of BYU in Provo, with walking and biking access to shopping, dining, parks, entertainment, downtown, and central Provo amenities. Its two-unit configuration supports both rental use and an owner-occupant arrangement with income from the second unit.
The property is located a few blocks south of BYU in Provo, with walking and biking access to shopping, dining, parks, entertainment, downtown, and central Provo amenities. Its two-unit configuration supports both rental use and an owner-occupant arrangement with income from the second unit.
Key Highlights
- 2,240‑square‑foot duplex built in 1925
- Two units with updated kitchens and new LVP flooring
- Shared basement laundry facilities with access for both units
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
$24,147
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
3.86%
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%
$482,940
$482.9K
Cap Rate 7%
$344,957
$345.0K
Cap Rate 9%
$268,300
$268.3K
Market Conditions
NOI Build-Up for 2,240 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
$36.3K $16.20/SF
− Vacancy
−$1.8K −$0.80/SF
EGI
$34.5K $15.40/SF
− OpEx
−$10.3K −$4.62/SF
NOI
$24.1K $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%
$482,940
Cap Rate 7%
$344,957
Cap Rate 9%
$268,300
Alternative Uses
Best Use
Multifamily LT 5
$345.0K
$301.8K – $402.5K
NOI $24,147 @ 7.0% cap · market cap 3.86%
Second Best
Apartment 5plus
$316.3K
$276.8K – $369.1K
NOI $22,144 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$617.8K
$540.6K – $720.8K
NOI $43,245 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,471
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units combine period character with refreshed interiors and shared basement laundry access.
Where is this duplex located?
The property is located at 227 E 300 N Provo, UT.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2,240‑square‑foot duplex built in 1925; Two units with updated kitchens and new LVP flooring; Shared basement laundry facilities with access for both units
