Updated Two-Unit
For Sale
$624,900
257 E 200 S, Provo, UT 84606
Residential, Provo, UT
Property Size2,016 SF
Lot Size0.20 Acres
Price / SF$309.97
Days on Market146
Property Features for 257 E 200 S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
Parking features
Covered
Patio and Porch features
Porch
Interior features
Alarm: Fire, Kitchen: Updated, Oven: Gas, Range: Gas, Range/Oven: Free Stdng., Dishwasher: Built-In
Exterior features
Porch: Open
Lot features
Curb & Gutter, Fenced: Part, Road: Paved, Sidewalks, View: Mountain
Elementary school
Provo Peaks
Middle school
Centennial
High school
Timpview
Elementary school district
Provo
Middle school district
Provo
High school district
Provo
Subdivision
Provo; Mamth; Springville
Standard status
Active
APN
05-018-0001
Size
2,016 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
2451
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Building Details
Year built
1919
Number of units
2
Flooring type
Linoleum, Carpet, Tile, Hardwood
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Signature Group Real Estate · Realty ONE Group
(801) 208-3800
Listed By:
Alen Kantarevic · License #8933581
(801) 664-9028
Added: May 4
Changed: Sep 24
Last Checked: Sep 26 at 12:06PM
MLS# 2155165
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.
This legal duplex at 255 & 257 E 200 S in Provo contains two separately addressed residences totaling 2,016 square feet on a 0.20-acre lot. The unit mix includes a 900-square-foot one-bedroom, one-bath residence and a 1,116-square-foot two-bedroom, one-bath residence. Each unit has central heat and A/C, separate meters and utilities, covered parking, and included appliances.
Recent improvements include a remodeled kitchen and living area in the two-bedroom unit, along with new flooring, lighting, and paint. The one-bedroom unit has an updated bathroom and refreshed kitchen. New windows, exterior paint, and front porch finishes were completed in 2021, and the property received upgraded electrical panels and complete rewiring in 2025. Both residences are currently rented, with tenants paying gas, electric, and internet while the owner covers water and sewer.
The property is served by public sewer and is located near downtown Provo, shopping, restaurants, BYU, and UVU. Zoning is Multi-Family.
Recent improvements include a remodeled kitchen and living area in the two-bedroom unit, along with new flooring, lighting, and paint. The one-bedroom unit has an updated bathroom and refreshed kitchen. New windows, exterior paint, and front porch finishes were completed in 2021, and the property received upgraded electrical panels and complete rewiring in 2025. Both residences are currently rented, with tenants paying gas, electric, and internet while the owner covers water and sewer.
The property is served by public sewer and is located near downtown Provo, shopping, restaurants, BYU, and UVU. Zoning is Multi-Family.
Key Highlights
- Two‑unit duplex with 900‑square‑foot and 1,116‑square‑foot residences
- Separate addresses, meters, and utilities for both units
- Complete property rewiring and upgraded electrical panels completed in 2025
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
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Legal multifamily property with separate utilities, covered parking, and refreshed interiors across 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‑unit duplex with 900‑square‑foot and 1,116‑square‑foot residences; Separate addresses, meters, and utilities for both units; Complete property rewiring and upgraded electrical panels completed in 2025
