Updated Duplex with Detached
New
For Sale
$725,000
414 E 500 S, American Fork, UT 84003
Residential, American Fork, UT
Property Size2,610 SF
Lot Size0.66 Acres
Price / SF$277.78
Days on Market7
Property Features for 414 E 500 S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 5, Bathroom 1, Bathroom 4, Bathroom 2, Bedroom 4, Bathroom 3, Bedroom 2, Bedroom 1
Parking
11
Parking features
Secured, RV, Covered
Window features
Blinds
Pool private
1
Exterior features
Basement Entrance, Out Buildings, Secured Parking, Walkout
Lot features
Fenced: Full, Road: Paved, Secluded, Sprinkler: Auto- Full
Elementary school
Greenwood
Middle school
American Fork
High school
American Fork
Elementary school district
Alpine
Middle school district
Alpine
High school district
Alpine
Subdivision
Am Fork; Hlnd; Lehi; Saratog.
Standard status
Active
APN
44-231-0001
Size
2,610 SF
Lot size
0.66 Acres
Taxes and HOA fees
Tax Annual Amount
2700
Utilities
Heating system
Central, Natural Gas, Heat Pump (Heating)
Amenities
automatic sprinkler system
fruit trees
berry bushes
gardening space
grow boxes
custom deck
partially inground pool
detached office
fitness gym
greenhouse shed
mini-split HVAC
Building Details
Year built
1995
Number of units
2
Flooring type
Carpet
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Equity Real Estate (Utah)
(801) 794-7777
Listed By:
Jacob Gibson
(801) 651-3071
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 24 at 9:06PM
MLS# 2186355
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 Multi-Family property includes a 5-bedroom, 4-bathroom duplex with a 3-bedroom, 2-bathroom upper unit and a separate 2-bedroom, 2-bathroom basement unit. The 2,610-square-foot residence received updates in 2021 and features a walkout basement entrance, brick construction, central heating, natural gas, and a heat pump. A 2-car garage, 2-car carport, additional uncovered parking, gravel RV parking, and further gravel parking areas support the property.
Set on 0.66 acres at 414 E 500 S in American Fork, the grounds include fruit trees, berry bushes, gardening areas, grow boxes, a custom deck, a partially inground pool setup, an automatic sprinkler system, and a 1/2 water share. A detached 2-story accessory building contains a private office and fitness gym, each with individual mini-split HVAC units. The property also includes a greenhouse shed with its own mini-split HVAC. Multi-Family zoning provides potential for an attached third unit, and I-15 is approximately 2 minutes away.
Set on 0.66 acres at 414 E 500 S in American Fork, the grounds include fruit trees, berry bushes, gardening areas, grow boxes, a custom deck, a partially inground pool setup, an automatic sprinkler system, and a 1/2 water share. A detached 2-story accessory building contains a private office and fitness gym, each with individual mini-split HVAC units. The property also includes a greenhouse shed with its own mini-split HVAC. Multi-Family zoning provides potential for an attached third unit, and I-15 is approximately 2 minutes away.
Key Highlights
- 5‑bedroom, 4‑bathroom duplex with separate 3‑bedroom and 2‑bedroom units
- 0.66‑acre lot with fruit trees, berry bushes, grow boxes, and gardening space
- 2021 updates throughout the 2,610‑square‑foot residence
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
$24,078
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
3.32%
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%
$481,560
$481.6K
Cap Rate 7%
$343,971
$344.0K
Cap Rate 9%
$267,533
$267.5K
Market Conditions
NOI Build-Up for 2,610 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
$36.0K $13.80/SF
− Vacancy
−$1.6K −$0.62/SF
EGI
$34.4K $13.18/SF
− OpEx
−$10.3K −$3.95/SF
NOI
$24.1K $9.23/SF
Area
Utah County, UT
Vacancy
4.50%
Lease Rate
$13.80 /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%
$481,560
Cap Rate 7%
$343,971
Cap Rate 9%
$267,533
Alternative Uses
Best Use
Multifamily LT 5
$344.0K
$301.0K – $401.3K
NOI $24,078 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$316.3K
$276.7K – $369.0K
NOI $22,139 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$719.5K
$629.5K – $839.4K
NOI $50,363 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,113
Businesses Nearby
Explore this area
Business Placement
Demographics for 84003, UT
52,970
Population
16,441
Households
3.2
Avg Household Size
29
Median Age
50%
College-Educated
96%
High-School Grad
73.6 sq mi
ZIP Area
720
Density / Sq Mi
$120,262
Median Household Income
$41,591
Median Earnings
$1,692
Median Rent
$580,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate living units accompany flexible outdoor space, substantial parking, and dedicated office and gym buildings.
Where is this duplex located?
The property is located at 414 E 500 S American Fork, 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: 5‑bedroom, 4‑bathroom duplex with separate 3‑bedroom and 2‑bedroom units; 0.66‑acre lot with fruit trees, berry bushes, grow boxes, and gardening space; 2021 updates throughout the 2,610‑square‑foot residence
