Duplex Near University
For Sale
Contact for pricing
386 N 500 E, Provo, UT 84606
Duplex with two rental units, including washer/dryer hookups and a roof replacement completed in 2021.
Property Size2,678 SF
Price / SF$289.40
Days on Market136
Property Features for 386 N 500 E
General Information
Standard status
Active
Size
2,678 SF
Property subtype
Multifamily
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
washer/dryer hookups
Building Details
Year Built
1903
Year Renovated
2021
Units
2
Tenancy
Multi
Listing Agency:
Investment Realty Advisors
Listed By:
Cory Waddoups · License #UT
(801) 609-8342
Source:
Crexi
Added: May 1
Changed: Sep 2
Last Checked: Sep 13 at 5:29AM
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 Investment Realty Advisors
Investment Insights
Based on property information with market context.
This duplex offers two separate residential rental units. The larger unit includes 5 bedrooms and 2 bathrooms, and the second unit includes 3 bedrooms and 1 bathroom. Both units provide washer/dryer hookups, and each has received cosmetic updates in recent years. The roof was replaced in 2021.
The property is located just steps from Brigham Young University South Campus, supporting convenient access for tenants.
With two independently leased units, the layout provides straightforward income-producing functionality for a residential income buyer.
The property is located just steps from Brigham Young University South Campus, supporting convenient access for tenants.
With two independently leased units, the layout provides straightforward income-producing functionality for a residential income buyer.
Key Highlights
- Duplex built in 1903 with 2 rental units near Brigham Young University South Campus
- Larger unit: 5 bedrooms and 2 bathrooms, currently rented for $2,400/month
- Second unit: 3 bedrooms and 1 bathroom, currently rented for $1,500/month
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
$28,868
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
3.72%
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%
$577,360
$577.4K
Cap Rate 7%
$412,400
$412.4K
Cap Rate 9%
$320,756
$320.8K
Market Conditions
NOI Build-Up for 2,678 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
$43.4K $16.20/SF
− Vacancy
−$2.1K −$0.80/SF
EGI
$41.2K $15.40/SF
− OpEx
−$12.4K −$4.62/SF
NOI
$28.9K $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%
$577,360
Cap Rate 7%
$412,400
Cap Rate 9%
$320,756
Alternative Uses
Best Use
Multifamily LT 5
$412.4K
$360.9K – $481.1K
NOI $28,868 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$378.2K
$330.9K – $441.2K
NOI $26,474 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$738.6K
$646.3K – $861.7K
NOI $51,701 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,125
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 - Duplex with two rental units, including washer/dryer hookups and a roof replacement completed in 2021.
Where is this duplex located?
The property is located at 386 N 500 E Provo, UT.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Duplex built in 1903 with 2 rental units near Brigham Young University South Campus; Larger unit: 5 bedrooms and 2 bathrooms, currently rented for $2,400/month; Second unit: 3 bedrooms and 1 bathroom, currently rented for $1,500/month
