Updated Legal
For Sale
$500,000
344 W 300 N, Provo, UT 84601
Residential, Provo, UT
Property Size1,782 SF
Lot Size0.18 Acres
Price / SF$280.58
Days on Market98
Property Features for 344 W 300 N
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Zoning description
RC
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1
Parking
2
Window features
Blinds
Patio and Porch features
Deck
Interior features
Range/Oven: Free Stdng., Dishwasher: Built-In
Exterior features
Deck; Covered
Lot features
Fenced: Full, Sprinkler: Auto- Full
Elementary school
Timpanogos
Middle school
Dixon
High school
Provo
Elementary school district
Provo
Middle school district
Provo
High school district
Provo
Subdivision
Provo; Mamth; Springville
Standard status
Active
APN
04-101-0026
Size
1,782 SF
Lot size
0.18 Acres
Utilities
Heating system
Central, Forced Air, Natural Gas
Building Details
Year built
1924
Number of units
2
Flooring type
Carpet, Linoleum
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Equity Real Estate (Results)
(801) 610-9394
Listed By:
Masyn Barney
(800) 785-9995
Added: May 26
Changed: Aug 22
Last Checked: Aug 31 at 7:06PM
MLS# 2160573
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 contains 1,782 square feet on a 0.18-acre lot and was built in 1924. The upper unit includes updated LVP and carpet flooring, granite countertops, fresh paint, and a built-in dishwasher. The lower unit has also been recently updated. Exterior features include a covered deck, mature trees, full fencing, established landscaping, and automatic sprinklers. The building has brick construction, natural gas forced-air central heating, and an asphalt roof.
Both units are leased month to month, providing flexibility for the next owner. Tenants pay all utilities and handle lawn care. The property is zoned Multi-Family and is located near schools, Smith's Grocery, and additional shopping in Provo.
Both units are leased month to month, providing flexibility for the next owner. Tenants pay all utilities and handle lawn care. The property is zoned Multi-Family and is located near schools, Smith's Grocery, and additional shopping in Provo.
Key Highlights
- Legal duplex with 1,782 square feet on a 0.18‑acre lot
- Built in 1924 with brick construction and an asphalt roof
- Upper unit features LVP and carpet flooring, granite countertops, fresh paint, and a built‑in dishwasher
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
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
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
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 - Two-unit property with updated interiors, landscaped grounds, and flexible month-to-month occupancy.
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 with 1,782 square feet on a 0.18‑acre lot; Built in 1924 with brick construction and an asphalt roof; Upper unit features LVP and carpet flooring, granite countertops, fresh paint, and a built‑in dishwasher
