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    358 W 500 S Provo, UT 84601

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    Claim this Listing
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    For Sale
    $499,999

    MULTI_FAMILY - Other - Provo, UT

    Property size:
    1,456 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $343/SF
    Added:
    Apr 24, 2026
    Days on Market:
    4
    Last Refresh:
    Apr 27 at 11:06 am

    Property Features for 358 W 500 S

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Multi-Family
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Basement, Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2
    Parking
    2
    Parking features
    Covered
    Window features
    Blinds
    Interior features
    Basement Apartment, Disposal, Kitchen: Second, Range/Oven: Free Stdng.
    Exterior features
    Basement Entrance, Double Pane Windows
    Standard status
    Active
    APN
    04-018-0003
    Size
    1,456 SF
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2381

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Natural Gas, Forced Air, Electric (Heating)

    Building Details

    Year built
    1939
    Number of units
    2
    Flooring type
    Concrete, Carpet, Tile
    Building materials
    Aluminum
    Roof type
    Asphalt
    Architectural style
    Other
    Additional Structures
    Workshop

    We can help!

    Listing Contact
    Greg Padgett

    Listing agent Greg Padgett

    Listing office Realtypath LLC (Home and Family) 350 S 400 W, Sandy, UT

    Listing date Apr 24, 2026

    MLS# 2153453 Listing URL

    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.

    Overview

    Provo Duplex Near LDS Temple

    This well-maintained legal duplex is situated in Provo, steps from the LDS Temple, downtown dining, the public library, and the Provo Rail Station. The property offers convenience and walkability. The interior includes three bedrooms and two updated bathrooms with modern finishes. A fully fenced backyard features mature trees, a large outside dog kennel, and a storage shed. The lower-level basement apartment is pre-approved with the Utah Housing Authority and currently occupied on a month-to-month lease, providing income potential. This property is suitable as a primary residence with extra rental income or as an investment property. The lot size is 0.11 acres and the property size is 1456 square feet. The property is located in Utah County, in the city of Provo, Utah.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Provo
    County
    Utah
    State
    Utah
    Longitude
    -111.664931
    Latitude
    40.227315

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    FAQs

    What type of property is this?
    Duplex - Well-maintained duplex in central Provo with income potential.
    Where is this duplex located?
    The property is located at 358 W 500 S Provo, UT.
    What is the asking price?
    The asking price for this property is $499,999.
    What are key features of this property?
    This property features: Prime Central Provo Location: Steps from the LDS Temple, downtown dining, the public library, and the Provo Rail Station.; Legal Duplex with Income Potential: Includes a pre‑approved basement apartment with a current tenant on a flexible month‑to‑month lease.; Spacious and Updated: Features three bedrooms and two recently updated bathrooms with modern finishes.
    (801) 875-7273
    We can help!
    Listing Contact
    Greg Padgett
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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