Legal Duplex with New
For Sale
$725,000
372 N 800 E, Provo, UT 84606
Well-maintained legal duplex featuring a new roof and fresh interior and exterior paint, currently fully rented.
Property Size2,242 SF
Price / SF$323.37
Days on Market69
Property Features for 372 N 800 E
General Information
Standard status
Active
Size
2,242 SF
Property subtype
Duplex
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Building Size
2,242 SF
Year Built
1948
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Elite Real Estate
(801) 224-9011
Listed By:
Stephanie Bagley
(801) 455-1709
Source:
Liftrealty
Added: Jul 7
Changed: Sep 12
Last Checked: Sep 12 at 6:09AM
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 Berkshire Hathaway HomeServices Elite Real Estate
Investment Insights
Based on property information with market context.
This legal duplex is presented as fully rented and move-in ready for an owner-operator or investor. The property is configured as a 6-bedroom, 2-bath duplex and is described as clean and very well maintained, with a new roof and new interior and exterior paint. Per the seller’s information, everything in the home is included with the sale.
Located on the east side of Provo, it is reported to be about two minutes from BYU. The annual gross scheduled rents are stated as $42,000+.
Please note the property is part of a 1031 Exchange transaction.
Located on the east side of Provo, it is reported to be about two minutes from BYU. The annual gross scheduled rents are stated as $42,000+.
Please note the property is part of a 1031 Exchange transaction.
Key Highlights
- Legal duplex built in 1948 on Provo’s east side
- 6 bedrooms and 2 bathrooms in the duplex
- New roof plus new interior and exterior paint
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
$24,168
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
3.33%
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%
$483,360
$483.4K
Cap Rate 7%
$345,257
$345.3K
Cap Rate 9%
$268,533
$268.5K
Market Conditions
NOI Build-Up for 2,242 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
$36.3K $16.20/SF
− Vacancy
−$1.8K −$0.80/SF
EGI
$34.5K $15.40/SF
− OpEx
−$10.4K −$4.62/SF
NOI
$24.2K $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%
$483,360
Cap Rate 7%
$345,257
Cap Rate 9%
$268,533
Alternative Uses
Best Use
Multifamily LT 5
$345.3K
$302.1K – $402.8K
NOI $24,168 @ 7.0% cap · market cap 3.33%
Second Best
Apartment 5plus
$316.6K
$277.1K – $369.4K
NOI $22,164 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$618.3K
$541.1K – $721.4K
NOI $43,284 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
823
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained legal duplex featuring a new roof and fresh interior and exterior paint, currently fully rented.
Where is this duplex located?
The property is located at 372 N 800 E Provo, UT.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Legal duplex built in 1948 on Provo’s east side; 6 bedrooms and 2 bathrooms in the duplex; New roof plus new interior and exterior paint
