Updated Legal
For Sale
$569,000
709 E 150 S, Provo, UT 84606
Residential, Provo, UT
Property Size1,998 SF
Lot Size0.13 Acres
Price / SF$284.78
Days on Market64
Property Features for 709 E 150 S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Zoning description
R-2
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 4, Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Parking
3
Parking features
Covered
Window features
Drapes
Interior features
Basement Apartment, Great Room, Range/Oven: Built-In
Exterior features
Basement Entrance, Entry (Foyer), Out Buildings
Fireplace
1
Subdivision
EAST PARK ADD
Lot features
Corner Lot, Curb & Gutter, Fenced: Full, Road: Paved, Sidewalks, Sprinkler: Auto- Full, View: Mountain
Elementary school
Provo Peaks
Middle school
Centennial
High school
Timpview
Elementary school district
Provo
Middle school district
Provo
High school district
Provo
Standard status
Active
APN
38-004-0006
Size
1,998 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
2658
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Building Details
Year built
1943
Number of units
2
Flooring type
Laminate, Tile, Carpet, Hardwood
Building materials
Clapboard
Roof type
Asphalt
Architectural style
Other
Additional Structures
Workshop
Listing Agency:
Presidio Real Estate
(801) 251-6683
Listed By:
Barbi Schramm
(801) 427-0644
Added: Jun 19
Changed: Aug 20
Last Checked: Aug 21 at 11:06AM
MLS# 2169114
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 legally recognized duplex contains 1,998 square feet on a 0.13-acre lot and is configured with an upper residence and a basement apartment. The property can operate as two separate units or as a single-family home. Recent work includes replacement windows, updated lighting, a water heater, refreshed bathroom finishes, restored hardwood flooring, water-line improvements, electrical-box upgrades, and interior paint. Both washers and dryers, along with the other appliances, are included. Additional features include a basement entrance, covered parking, forced-air heat, public sewer, and an asphalt roof. Built in 1943, the home is within walking distance of BYU and downtown Provo. One unit has an active one-year lease, while the other is occupied on a month-to-month arrangement.
Key Highlights
- Legally recognized duplex with upper unit and basement apartment
- 1,998 square feet on a 0.13‑acre lot
- One unit has an active 1‑year lease; the other is month to 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
$21,538
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
3.79%
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%
$430,760
$430.8K
Cap Rate 7%
$307,686
$307.7K
Cap Rate 9%
$239,311
$239.3K
Market Conditions
NOI Build-Up for 1,998 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
$32.4K $16.20/SF
− Vacancy
−$1.6K −$0.80/SF
EGI
$30.8K $15.40/SF
− OpEx
−$9.2K −$4.62/SF
NOI
$21.5K $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%
$430,760
Cap Rate 7%
$307,686
Cap Rate 9%
$239,311
Alternative Uses
Best Use
Multifamily LT 5
$307.7K
$269.2K – $359.0K
NOI $21,538 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$282.2K
$246.9K – $329.2K
NOI $19,752 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$551.0K
$482.2K – $642.9K
NOI $38,573 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,308
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
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 - Tenant-occupied two-unit property near BYU and downtown Provo, with refreshed systems, appliances, and covered parking.
Where is this duplex located?
The property is located at 709 E 150 S Provo, UT.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: Legally recognized duplex with upper unit and basement apartment; 1,998 square feet on a 0.13‑acre lot; One unit has an active 1‑year lease; the other is month to month
