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Buy a rental in Pleasant Grove, Utah: current rents, cap rates, which neighborhoods actually cash flow, and what management costs.
Ondo pairs neighborhood-level pricing, prep, and negotiation support with the realities of a $470K median home market in Pleasant Grove.
Nearby Coverage
Pleasant Grove's rental market presents a compelling investment opportunity. With a median home price of $470,000 and median rent of $1,550/month, the gross rent multiplier sits at approximately 25.3×, meaning the purchase price represents roughly 25.3 years of gross rental income. Population growth of 2.2% annually, driven by employers like Alpine School District and Purple Mattress, supports sustained rental demand. With 28% of Pleasant Grove households renting, the tenant pool is established and active. We help investors identify properties that generate positive cash flow from day one and build long-term equity in Pleasant Grove's appreciating market.
Pleasant Grove has a hometown warmth that bigger cities can't replicate. Strawberry Days in June is the annual highlight, a week of carnival rides, concerts, a rodeo, and the community strawberries-and-cream tradition that's been going since 1921. Battle Creek Falls is the local hike, an easy 20-minute trail that ends at a waterfall, perfect for after-work exercise. Downtown has a scattering of restaurants, a bakery, and shops that locals are fiercely loyal to. The foothills provide a mountain backdrop that never gets old. Weekends include the Murdock Trail, city rec fields, and neighborhood events. Retention is typically strong when maintenance is responsive.
Median Home Price
$470K
Median Rent
$1,550/mo
Population
40,000
Annual Growth
2.2%
Avg Days on Market
22
Owner-Occupied
72%
Ondo city medians as of Aug 2026 — verify. Not an MLS pull, appraisal, BPO, or CMA. Population and annual growth are approximate and are not tied to a named public source here. Check the U.S. Census Bureau for official figures.
We define your target returns, budget, preferred property type, and management expectations. Whether you're buying your first rental or adding to a portfolio, we tailor the search to your investment thesis.
For every property we present, you get a cash flow analysis including purchase price, down payment, financing costs, projected rent, operating expenses (vacancy, maintenance, insurance, taxes, management), and net yield. No surprises.
Once you close, our property management team takes over: marketing, tenant placement, rent collection, maintenance, and reporting. You get passive income without the daily operational burden.
School District: Alpine School District
Notable schools: Pleasant Grove High School, Manila Elementary, Pleasant Grove Junior High
Known as 'Utah's City of Trees,' situated at the base of Mt. Timpanogos with historic orchards and newer tech campuses.
Outdoor Activities
Local Landmarks
Returns vary by property, financing, and management approach. In the current market, cash-on-cash returns for a well-purchased rental property typically range from 4–8% before appreciation. Cap rates for single-family rentals generally run 4–6%. Total returns including appreciation, principal paydown, and tax benefits can exceed 12–15% annually. We provide property-specific pro forma analysis so you know exactly what to expect before making an offer.
Investment property loans typically require 15–25% down for a single-family rental and 25% for 2–4 unit properties. Some portfolio lenders offer 10% down for strong borrowers. DSCR (debt service coverage ratio) loans are available for investors who prefer to qualify based on the property's rental income rather than personal income. We help you structure financing that preserves capital for multiple acquisitions.
It depends on your time, proximity, and number of properties. Self-management saves the management fee (typically 8–10% of rent) but requires you to handle tenant calls, maintenance coordination, rent collection, and legal compliance. As your portfolio grows past 2–3 units, the time investment usually exceeds the management fee savings. Our property management service handles everything from day one.
A 1031 exchange lets you defer capital gains taxes when you sell an investment property and reinvest the proceeds into a like-kind replacement property. Strict timelines apply: 45 days to identify replacement properties and 180 days to close. We coordinate with qualified intermediaries and help you identify replacement properties that improve your portfolio's cash flow and appreciation potential.
Pleasant Grove has one of Utah County's strongest community identities, and tenants who engage with it by attending Strawberry Days and using Battle Creek trails. Alpine School District serves the city. The city's compact size and festival calendar support renewals when rents stay near comps. Properties near the historic center and Battle Creek trailheads often show stronger occupancy.
Downtown Pleasant Grove has a walkable, small-town character that appeals to tenants seeking authenticity over suburbia. Local restaurants, the old theater, and the park create a genuine neighborhood feel. Older properties near downtown can be renovated effectively, the charm premium is real, and tenants will pay slightly above market for a well-done renovation in a walkable location. The Manila Creek development is adding modern density nearby, which brings additional foot traffic and commercial energy to the area. Downtown P.G. is a good value-add submarket for patient investors.
Pleasant Grove's central Utah County location is a genuine advantage, Lehi's Silicon Slopes campuses are 10 minutes north, Provo/BYU is 10 minutes south, and I-15 interchange access is easy. This flexibility means the tenant pool draws from both Salt Lake County southbound commuters and Utah County northbound workers. FrontRunner service is accessible via the Orem or American Fork stations (5–10 min drive). Tenants can change jobs without needing to move, which helps retention.
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