Legal Duplex with Fenced
For Sale
$500,000
344 W 300 N, Provo, UT 84601
Well-maintained legal duplex with updated interiors, a landscaped fenced lot, and month-to-month leases.
Property Size1,782 SF
Price / SF$280.58
Days on Market111
Property Features for 344 W 300 N
General Information
Standard status
Active
Size
1,782 SF
Property subtype
Duplex
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Amenities
fully landscaped lot
mature trees
full fencing
automatic sprinklers
Building Details
Building Size
1,782 SF
Year Built
1924
Tenancy
Multi
Listing Agency:
Equity Real Estate (Results)
(801) 610-9394
Listed By:
Masyn Barney
(801) 709-1122
Source:
Liftrealty
Added: May 26
Changed: Sep 12
Last Checked: Sep 13 at 10:45AM
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 Equity Real Estate (Results)
Investment Insights
Based on property information with market context.
This well-maintained legal duplex offers two separate 2-bedroom units on month-to-month leases. The upper unit features updated LVP and carpet flooring, granite countertops, fresh paint, and a dishwasher. The lower unit has been recently updated. The property is set on a fully landscaped lot with mature trees, full fencing, and automatic sprinklers.
The home is conveniently located near schools and Smith’s Grocery, with other shopping nearby. Tenants pay all utilities and handle lawn care, supporting day-to-day ease for an owner.
With flexible month-to-month tenancy and straightforward showings with 24 hours’ notice, the duplex is designed for both investors and owner-occupants who want adaptable occupancy.
The home is conveniently located near schools and Smith’s Grocery, with other shopping nearby. Tenants pay all utilities and handle lawn care, supporting day-to-day ease for an owner.
With flexible month-to-month tenancy and straightforward showings with 24 hours’ notice, the duplex is designed for both investors and owner-occupants who want adaptable occupancy.
Key Highlights
- Legal duplex built in 1924 with two units on month‑to‑month leases for buyer flexibility
- Upper unit updates include LVP and carpet flooring, granite countertops, fresh paint, and a dishwasher
- Lower unit has been recently updated
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
$19,210
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
3.84%
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%
$384,200
$384.2K
Cap Rate 7%
$274,429
$274.4K
Cap Rate 9%
$213,444
$213.4K
Market Conditions
NOI Build-Up for 1,782 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
$28.9K $16.20/SF
− Vacancy
−$1.4K −$0.80/SF
EGI
$27.4K $15.40/SF
− OpEx
−$8.2K −$4.62/SF
NOI
$19.2K $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%
$384,200
Cap Rate 7%
$274,429
Cap Rate 9%
$213,444
Alternative Uses
Best Use
Multifamily LT 5
$274.4K
$240.1K – $320.2K
NOI $19,210 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$251.7K
$220.2K – $293.6K
NOI $17,616 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$491.5K
$430.0K – $573.4K
NOI $34,403 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,587
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
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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 - Well-maintained legal duplex with updated interiors, a landscaped fenced lot, and month-to-month leases.
Where is this duplex located?
The property is located at 344 W 300 N Provo, UT.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Legal duplex built in 1924 with two units on month‑to‑month leases for buyer flexibility; Upper unit updates include LVP and carpet flooring, granite countertops, fresh paint, and a dishwasher; Lower unit has been recently updated
