Duplex with
New
For Sale
$489,000
265 N Center St, American Fork, UT 84003
Updated two-unit property with separate utilities, laundry hookups, water heaters, and garage space for each household.
Property Size1,946 SF
Price / SF$251.28
Days on Market2
Property Features for 265 N Center St
General Information
Standard status
Active
Size
1,946 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1950
Buildings
1
Listing Agency:
Garlington Group Real Estate
Listed By:
The Evans Team · License #00237674
(385) 335-0618
Source:
Evansteamutah
Added: Sep 5
Last Checked: Sep 5 at 2:58PM
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 Garlington Group Real Estate
Investment Insights
Based on property information with market context.
Built in 1950, this 1,946-square-foot duplex combines refreshed interiors with retained architectural character. Improvements include new flooring, fresh paint, updated surfaces, arched doorways, and built-in features. Each unit includes laundry hookups, its own utility meter, and a separate water heater. Garage space adds a useful amenity for the property.
The property is located at 265 N Center St in American Fork, near the Fitness Center, library, shopping, and bus access. American Fork Hospital is approximately five minutes away. The two-unit configuration supports owner occupancy with a separate unit or leasing both residences, subject to applicable requirements.
The property is located at 265 N Center St in American Fork, near the Fitness Center, library, shopping, and bus access. American Fork Hospital is approximately five minutes away. The two-unit configuration supports owner occupancy with a separate unit or leasing both residences, subject to applicable requirements.
Key Highlights
- 1,946‑square‑foot duplex built in 1950
- Two units with separate utility meters and water heaters
- Laundry hookups provided in each unit
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
$17,952
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
3.67%
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%
$359,040
$359.0K
Cap Rate 7%
$256,457
$256.5K
Cap Rate 9%
$199,467
$199.5K
Market Conditions
NOI Build-Up for 1,946 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
$26.9K $13.80/SF
− Vacancy
−$1.2K −$0.62/SF
EGI
$25.6K $13.18/SF
− OpEx
−$7.7K −$3.95/SF
NOI
$18.0K $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%
$359,040
Cap Rate 7%
$256,457
Cap Rate 9%
$199,467
Alternative Uses
Best Use
Multifamily LT 5
$256.5K
$224.4K – $299.2K
NOI $17,952 @ 7.0% cap · market cap 3.67%
Second Best
Apartment 5plus
$235.8K
$206.3K – $275.1K
NOI $16,507 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$536.4K
$469.4K – $625.8K
NOI $37,550 @ 7.0% cap · market cap 7.68%
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
1,084
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
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 - Updated two-unit property with separate utilities, laundry hookups, water heaters, and garage space for each household.
Where is this duplex located?
The property is located at 265 N Center St American Fork, UT.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: 1,946‑square‑foot duplex built in 1950; Two units with separate utility meters and water heaters; Laundry hookups provided in each unit
