Updated Duplex with Separate
For Sale
$624,900
257 E 200 S, Provo, UT 84606
Legal two-unit property with independent utilities, central heating and A/C, and recent improvements to both residences.
Property Size2,016 SF
Lot Size0.20 Acres
Price / SF$309.97
Days on Market41
Property Features for 257 E 200 S
General Information
Standard status
Active
Size
2,016 SF
Lot size
0.20 Acres
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1919
Year Renovated
2025
Listing Agency:
Signature Group Real Estate
(801) 208-3800
Listed By:
Alen Kantarevic · License #8933581
Source:
Liveutah
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 28 at 9:11PM
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 Signature Group Real Estate
Investment Insights
Based on property information with market context.
This legal duplex at 255 & 257 E 200 S in Provo contains two independent residences with separate addresses, meters, and entrances. The 1-bedroom, 1-bath unit measures 900 square feet, while the 2-bedroom, 1-bath unit measures 1,116 square feet. Both units have central heating and A/C, and the property sits on a 0.20-acre lot. The building was constructed in 1919 and has received substantial updates, including new windows, exterior paint, front porch finishes, and a full electrical rewire with upgraded panels and meters in 2025.
Interior improvements include a remodeled 2-bedroom unit with new flooring, lighting, paint, and an opened kitchen/living area, along with an updated bathroom and refreshed kitchen in the 1-bedroom unit. Seller-owned appliances include refrigerators, ranges, washers, and dryers, all replaced within the last 4 years. Both residences are currently leased through July 31st. Tenants pay gas, electric, and internet, while the owner covers water and sewer. The property is near downtown Provo, shopping, dining, and local universities.
Interior improvements include a remodeled 2-bedroom unit with new flooring, lighting, paint, and an opened kitchen/living area, along with an updated bathroom and refreshed kitchen in the 1-bedroom unit. Seller-owned appliances include refrigerators, ranges, washers, and dryers, all replaced within the last 4 years. Both residences are currently leased through July 31st. Tenants pay gas, electric, and internet, while the owner covers water and sewer. The property is near downtown Provo, shopping, dining, and local universities.
Key Highlights
- Two legal units totaling 2,016 square feet on a 0.20‑acre lot
- Separate addresses, meters, and fully independent residences
- Unit mix includes 1 bed/1 bath at 900 sq ft and 2 bed/1 bath at 1,116 sq ft
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
$21,732
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
3.48%
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%
$434,640
$434.6K
Cap Rate 7%
$310,457
$310.5K
Cap Rate 9%
$241,467
$241.5K
Market Conditions
NOI Build-Up for 2,016 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
$32.7K $16.20/SF
− Vacancy
−$1.6K −$0.80/SF
EGI
$31.0K $15.40/SF
− OpEx
−$9.3K −$4.62/SF
NOI
$21.7K $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%
$434,640
Cap Rate 7%
$310,457
Cap Rate 9%
$241,467
Alternative Uses
Best Use
Multifamily LT 5
$310.5K
$271.7K – $362.2K
NOI $21,732 @ 7.0% cap · market cap 3.48%
Second Best
Apartment 5plus
$284.7K
$249.1K – $332.2K
NOI $19,930 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$556.0K
$486.5K – $648.7K
NOI $38,920 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,081
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
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 independent utilities, central heating and A/C, and recent improvements to both residences.
Where is this duplex located?
The property is located at 257 E 200 S Provo, UT.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: Two legal units totaling 2,016 square feet on a 0.20‑acre lot; Separate addresses, meters, and fully independent residences; Unit mix includes 1 bed/1 bath at 900 sq ft and 2 bed/1 bath at 1,116 sq ft
