Updated Duplex with Detached
New
For Sale
$725,000
414 E 500 S #A-B, American Fork, UT 84003
Two separately configured residences share a landscaped lot with flexible parking and additional outbuildings.
Property Size2,610 SF
Lot Size0.66 Acres
Price / SF$277.78
Days on Market5
Property Features for 414 E 500 S #A-B
General Information
Standard status
Active
Size
2,610 SF
Lot size
0.66 Acres
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
automatic sprinkler system
fruit trees
berry bushes
gardening space
grow boxes
custom deck
partially inground pool
1/2 water share
2-car garage
2-car carport
RV parking
detached office/gym
greenhouse
mini-split HVAC
Building Details
Year Built
1995
Listing Agency:
Garlington Group Real Estate
Listed By:
The Evans Team
(385) 335-0618
Source:
Evansteamutah
Added: Sep 20
Changed: Sep 24
Last Checked: Sep 24 at 9:44AM
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.
This 2,610-square-foot duplex sits on a 0.66-acre lot and includes a 5-bedroom, 4-bathroom main residence divided into two units. The upper unit has 3 bedrooms and 2 bathrooms, while the basement unit offers 2 bedrooms and 2 bathrooms. Updates were completed in 2021. Property improvements include a 2-car garage, 2-car carport, additional uncovered parking, gravel RV parking, and multiple gravel parking areas.
The grounds feature fruit trees, berry bushes, gardening areas, grow boxes, a partially inground pool setup, a custom deck, an automatic sprinkler system, and a 1/2 water share. A detached 2-story accessory building contains an office and fitness gym, with separate mini-split HVAC units. A large greenhouse shed also has mini-split HVAC. The property is 2 minutes from I-15 and is zoned with potential for an attached third unit. Built in 1995.
The grounds feature fruit trees, berry bushes, gardening areas, grow boxes, a partially inground pool setup, a custom deck, an automatic sprinkler system, and a 1/2 water share. A detached 2-story accessory building contains an office and fitness gym, with separate mini-split HVAC units. A large greenhouse shed also has mini-split HVAC. The property is 2 minutes from I-15 and is zoned with potential for an attached third unit. Built in 1995.
Key Highlights
- 2,610 SF duplex on a 0.66‑acre lot
- Upper 3‑bedroom, 2‑bathroom unit plus lower 2‑bedroom, 2‑bathroom unit
- 2021 updates to the main 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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured residences share a landscaped lot with flexible parking and additional outbuildings.
Where is this duplex located?
The property is located at 414 E 500 S #A-B 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: 2,610 SF duplex on a 0.66‑acre lot; Upper 3‑bedroom, 2‑bathroom unit plus lower 2‑bedroom, 2‑bathroom unit; 2021 updates to the main residence
