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Investment Properties for Sale in Pleasant Grove, Utah
Pleasant Grove sits in the middle of the Silicon Slopes corridor, which is exactly why investors pay attention to it. The city is wedged between Lehi's tech campuses (Adobe, Xactware, the IM Flash site) and the Orem/Provo university crowd, so the renter pool is unusually deep year-round — engineers on 12-month contracts, BYU and UVU students, and families priced out of buying in Alpine or Highland. Median single-family prices generally run in the upper $500Ks to low $700Ks depending on the neighborhood, with older ranchers near Downtown Pleasant Grove and Manila trading lower than newer builds up by Grove Creek or off Sam White Lane.
What makes the city work for rentals is the mix of housing stock. There are basement-apartment ramblers built in the 70s and 80s that already cash-flow as legal accessory units, townhomes near Pleasant Grove Boulevard that lease quickly to tech commuters, and larger lots on the east bench where ADU additions or short-term rental conversions pencil out. The city does regulate short-term rentals, so anyone underwriting an Airbnb play should confirm zoning before closing. Property taxes in Utah County stay reasonable compared to neighboring states, and Pleasant Grove's location — 35 minutes to the SLC airport, 10 minutes to Thanksgiving Point — keeps demand steady. Browse the active listings below to see which properties are currently on the market and pencil out for your strategy.
May 2026 · Pleasant Grove market
Live from the Utah MLS — what's actually happening in Pleasant Grove right now.
Median sale
$580,000
27 closed in May 2026
Median DOM
8 days
listing → contract
Sale-to-list
98.8%
of final list price
Unsold inventory
87
active + pending
18 matching · page 1 of 1
Active listings
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Common questions
About investment properties in Pleasant Grove.
What kind of rental yields are realistic in Pleasant Grove? ▾
Long-term rentals on single-family homes typically run gross yields in the 4.5%-6% range, with basement-apartment houses on the higher end because you're collecting two rents on one mortgage. Townhomes near the Pleasant Grove Boulevard tech corridor lease fast but trade at higher price points, so cash-on-cash returns depend heavily on your down payment and rate.
Are short-term rentals allowed in Pleasant Grove? ▾
Pleasant Grove restricts short-term rentals in most residential zones and requires a business license where they are permitted. Before you write an offer on a property you intend to run as an STR, pull the specific parcel's zoning and check with the city's planning department — assuming an STR will work because neighbors do it is a common and expensive mistake.
Which neighborhoods do tech-worker tenants prefer? ▾
Renters working at Adobe, Ancestry, or the broader Lehi tech cluster tend to target the west side of Pleasant Grove near Pleasant Grove Boulevard and the I-15 Pleasant Grove exit, plus newer townhome communities off 2000 West. East-bench homes near Grove Creek attract families willing to pay more for the view and the Alpine School District schools.
Do homes with existing basement apartments command a premium? ▾
Yes — legal, separately metered basement units typically add $40K-$80K to a comparable single-family home's value in Pleasant Grove because the second rent covers a meaningful chunk of the mortgage. Confirm the unit is permitted with the city; unpermitted apartments are common here and can create financing and insurance headaches.
What's the property tax situation for non-owner-occupied homes? ▾
Utah taxes non-primary residences at the full assessed rate, while owner-occupied homes get a 45% exemption. That means an investment property in Pleasant Grove will carry roughly 1.5x to 1.8x the tax bill of the same house as a primary — factor that into any pro forma you run on a listing.
How many investment-ready listings are typically active here? ▾
Inventory shifts week to week, but Pleasant Grove usually has a handful of homes that work for investors at any given time — mostly older ramblers with basement potential, plus the occasional duplex or townhome. The list below reflects what's currently active on the Utah MLS.