457 S 500 E · Provo, UT 84606

$850,000

6 bd · 6.0 ba · 3,278 sqft · MultiFamily public records · 22 Days on market

Built 1925 7,405 sqft lot

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.5/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Livability +4.2/5.0
• Schools +3.5/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

SIGNIFICANT VALUE-ADD 6-PLEX OPPORTUNITY in Provo, BYU market with an approximate 6% cap rate simply by increasing rents (which are BELOW MARKET)! UPDATED: kitchens, bathrooms, flooring, fixtures, with recent exterior improvements to paint, siding, & window sealing! Tenants currently enjoy use of a secure, free laundry area in basement of neighboring 6-plex. Additional income opportunity also available through managing utilities differently (units metered separately!). LOCATION: near BYU, with quick access to I-15 & Provo downtown entertainment, restaurants, & shopping. Purchase the neighboring 6-plex (same seller) for operational efficiencies! 5 1-bed units; 1 2-bed unit. Square footage per county records. Buyer/agent to verify all. Do not disturb tenants; offer subject to inspection.

Key facts

• Quick access to i-15
• 6-plex opportunity
• Near provo downtown

Tags

• 6-PLEX OPPORTUNITY
• SECURE FREE LAUNDRY AREA
• RECENT EXTERIOR IMPROVEMENTS
• QUICK ACCESS TO I-15
• NEAR PROVO DOWNTOWN

What this means for you Summary

Snapshot

• This is a 6 × 7-bed/6.0-bath units multifamily listed at $850k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $330/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $850k).
• Recommended offer: $837k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 85/100 on livability (#15 in UT, #602 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A.
• Provo District (urban): math 38% / reading 46% proficiency, ranked #44 of 80 in UT (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.2%/yr); 130 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 6,326 units permitted in Utah County in 2024 (1,053 in 5+ unit buildings).
• At $9,209/mo this rent would consume 209% of the median local household income ($53k/yr) (locally 1982% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $26k of value loss. Plan a longer hold.
• Utah County population projected at +49% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($837k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $100k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $322k; list at $850k implies a 164% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wildfire risk; extreme-heat days projected 8→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $837,250 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.08% ✓
• Cap rate: 9.09%
• Cash-on-cash: 9.98%
• DSCR: 1.44
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.2% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-19,203
• Equity at exit: $126,738

10-year hold

• IRR: 6.7%
• Equity multiple: 1.48×
• Total profit: $115,081
• Equity at exit: $73,492

Cash invested: $238,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 86 Strongly Landlord-Friendly
• State Utah: 86 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

3-day notice; preempted; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 84606

• Rents YoY: 2.2%
• Active inventory: 130
• Price-to-rent: 46.2×

Monthly cashflow live

• Estimated rent: $9,209 medium
• Mortgage (P&I): −$4,457
• Tax from tax record: −$483 /mo · $5,802/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,934
• Net cashflow: $1,980

Break-even live

Break-even rent $6,703

Max offer price $850,000

Occupancy floor 74%

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	7	6	$9,210
Total (6 units)			$9,209

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1034 Cinnamon Ridge Ln Provo, UT	5.0	3.5	3000	$2,900	$0.97	14d	1	0.93mi
1296 S 1540 E Provo, UT	5.0	2.0	2612	$2,350	$0.90	23d	1	1.27mi

Listing history 22 events

1. 2026-06-19
   price $850,000 Active 22 DOM
2. 2026-06-18
   days on market $900,000 Active 22 DOM
3. 2026-06-17
   days on market $900,000 Active 21 DOM
4. 2026-06-16
   days on market $900,000 Active 20 DOM
5. 2026-06-15
   days on market $900,000 Active 19 DOM
6. 2026-06-14
   days on market $900,000 Active 17 DOM
7. 2026-06-10
   days on market $900,000 Active 14 DOM
8. 2026-06-09
   days on market $900,000 Active 13 DOM
9. 2026-06-08
   days on market $900,000 Active 12 DOM
10. 2026-06-07
    days on market $900,000 Active 11 DOM
11. 2026-06-03
    days on market $900,000 Active 7 DOM
12. 2026-06-02
    days on market $900,000 Active 6 DOM
13. 2026-06-01
    days on market $900,000 Active 5 DOM
14. 2026-05-31
    days on market $900,000 Active 4 DOM
15. 2026-05-31
    days on market $900,000 Active 3 DOM
16. 2026-04-13
    price $900,000 812-char remark

    Show marketing remark (812 chars)

    SIGNIFICANT VALUE-ADD 6-PLEX OPPORTUNITY in Provo, BYU market with an approximate 6% cap rate simply by increasing rents (which are BELOW MARKET)! UPDATED: kitchens, bathrooms, flooring, fixtures, with recent exterior improvements to paint, siding, & window sealing! Tenants currently enjoy use of a secure, free laundry area in basement of neighboring 6-plex. Additional income opportunity also available through managing utilities differently (units metered separately!). LOCATION: near BYU, with quick access to I-15 & Provo downtown entertainment, restaurants, & shopping. Purchase the neighboring 6-plex (same seller) for operational efficiencies! 5 1-bed units; 1 2-bed unit. Square footage per county records. Buyer/agent to verify all. Do not disturb tenants; offer subject to inspection.

17. 2026-02-12
    listed $950,000 Active 812-char remark

    Show marketing remark (812 chars)

    SIGNIFICANT VALUE-ADD 6-PLEX OPPORTUNITY in Provo, BYU market with an approximate 6% cap rate simply by increasing rents (which are BELOW MARKET)! UPDATED: kitchens, bathrooms, flooring, fixtures, with recent exterior improvements to paint, siding, & window sealing! Tenants currently enjoy use of a secure, free laundry area in basement of neighboring 6-plex. Additional income opportunity also available through managing utilities differently (units metered separately!). LOCATION: near BYU, with quick access to I-15 & Provo downtown entertainment, restaurants, & shopping. Purchase the neighboring 6-plex (same seller) for operational efficiencies! 5 1-bed units; 1 2-bed unit. Square footage per county records. Buyer/agent to verify all. Do not disturb tenants; offer subject to inspection.

18. 2011-04-29
    soldstatus 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

19. 2011-03-21
    listed $205,000 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

20. 2011-02-25
    soldstatus $322,290
21. 2005-08-03
    historical
22. 2005-02-03
    listed $274,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast UT · Resets to sale price

• Current annual tax: $5,802 · $483/mo
• Projected year-2 tax: $5,802 · $483/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 8 d/yr ≥95°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 10 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $110,508
• − Mortgage interest: −$47,613
• − Property taxes: −$5,802
• − Insurance: −$4,250
• − Repairs & maintenance: −$8,841
• − Management: −$8,841
• − Depreciation: −$24,727
• Taxable income: $10,434
• Est. tax owed @ 24.0%: −$2,504
• After-tax cash flow: $21,255/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Provo District
• NCES district ID: 4900810
• Math proficiency: 38% ▼ -10.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $40,698
• Composite: 35.24/100
• National rank: #4980
• State rank: #44 of 80 in UT

Livability — Provo

• Score: 85/100
• State rank: #15
• US rank: #602

Category grades

Amenities A+ Commute A+ Cost of living C+ Crime B+ Employment C Housing B+ Health & safety A User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Provo, UT
• County: Utah County · 661,754 people
• City population: 112,727
• Metro: Provo-Orem, UT
• Population (ZIP): 35,690
• Household income: $52,811
• Rent vs Own: 78.2% rent · 21.8% own
• Severe rent burden: 1982.0

Population outlook (Utah County) Hauer SSP2

• Today (2025): 693,420 people
• By 2030: 757,324 · +9.2%
• By 2040: 893,178 · +28.8%
• By 2050: 1,035,842 · +49.4%
• By 2075: 1,376,733 · +98.5%
• By 2100: 1,609,388 · +132.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 16% Two or more races 12% Asian 2% Pacific Islander 1% Black 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Italian 4% Slovak 4% Portuguese 2%
• Foreign-born: 12% · Canada, South Korea, Jamaica
• Languages at home: 72% English-only · Spanish 18% Other Indo-European 3% Other Asian/Pacific 2%

Political lean MEDSL · Utah

• 2024 margin: Solid R (+39.8) · D 28.5% · R 68.3% · Other 3.2%
• 2008→2024 swing: +19.1pp toward D · 2008: -58.9pp · 2024: -39.8pp
• All cycles: 2024: R+39.8 2020: R+41.0 2016: R+37.3 2012: R+78.5 2008: R+58.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -273.12%
• Current HPI: 282.591
• Rent YoY: ▲ 2.20%
• Metro: Provo-Orem, UT
• State GDP YoY: ▲ 3.54%
• F500 in state: 2

Industry mix (Fortune 500 HQ in UT)

Industry	F500 HQs	Revenue
▸Financial Services	1	$3B

Price history

+227.4% since first listed

7 events — show timeline

• 2026-04-13 Price Changed $900,000 WFRMLS
• 2026-02-12 Listed $950,000 WFRMLS
• 2011-04-29 Sold (MLS) — WFRMLS
• 2011-03-21 Listed $205,000 WFRMLS
• 2011-02-25 Sold (Public Records) $322,290 Public Records
• 2005-08-03 Listing Removed — WFRMLS
• 2005-02-03 Listed $274,900 WFRMLS

Property tax history

+9.0%/yr

Latest (2025): $5,802 · +57.2% YoY. Source: county tax records.