Question 1

What is the asking price for 331 PARK, Elk Ridge?

Accepted Answer

331 PARK, Elk Ridge is listed at $515,000 ($193/sqft).  Current status: Active Under Contract.

Question 2

How many bedrooms and bathrooms does 331 PARK, Elk Ridge have?

Accepted Answer

This Residential features 5 bedrooms, 3 bathrooms, 2,668 square feet of living space. It is a 2-story home. The lot is 0.28 acres.

Question 3

When was 331 PARK, Elk Ridge built?

Accepted Answer

This property was built in 1979, making it 47 years old. This established home has character and may feature unique architectural details. A thorough inspection is recommended to assess systems and structure.

Question 4

What type of property is 331 PARK, Elk Ridge?

Accepted Answer

331 PARK, Elk Ridge is a Residential (Single Family Residence). The architectural style is Rambler/Ranch. It is located in the SALEM HILLS subdivision. Zoning: Single-Family.

Question 5

Does 331 PARK, Elk Ridge have a garage or parking?

Accepted Answer

Yes, this property includes a 2-car garage. Total parking capacity: 2 vehicles.

Question 6

Is there an HOA for 331 PARK, Elk Ridge?

Accepted Answer

No, this property is not part of a homeowners association, which means no monthly HOA fees. Homeowners maintain full control over their property without HOA restrictions or assessments.

Question 7

What are the property taxes for 331 PARK, Elk Ridge?

Accepted Answer

Annual property taxes for this property are approximately $2,423 (about $202/month). This represents an effective tax rate of approximately 0.47% of the list price. Property taxes in Utah vary by county and are subject to change.

Question 8

What are the key features of 331 PARK, Elk Ridge?

Accepted Answer

Interior features include: Bath: Primary, Disposal, Range/Oven: Free Stdng.. Exterior features include: Basement Entrance, Porch: Open, Walkout, Patio: Open.    View: Lake,Mountain(s).

Question 9

Is 331 PARK, Elk Ridge a good deal?

Accepted Answer

Propaired's AI deal analysis classifies this property as a "Exceptional Deal" with a deal score of 59/100. Key deal signals: Priced 30% below similar homes; Priced 57% below market median (per-type); 4.1% year-over-year market appreciation. The price is 30% below similar homes in the area. This analysis considers price relative to comparables, days on market, price reductions, and market conditions.

Question 10

How does this price compare to similar homes in Elk Ridge?

Accepted Answer

The median price for similar properties in the area is $737,900 (based on 10 homes). At $515,000, this listing is 30% below the median for comparable homes. It ranks #Deep Discount among similar listings by value.

Question 11

What would the monthly mortgage payment be for 331 PARK, Elk Ridge?

Accepted Answer

At the current 30-year mortgage rate of 6.22% with 20% down, the estimated monthly principal and interest payment is $2,529. Including estimated taxes, the total monthly cost is approximately $2,731. A 15-year mortgage at 5.54% would be $3,375/month but saves significantly on interest. These are estimates — contact a lender for a personalized quote.

Question 12

How long has 331 PARK, Elk Ridge been on the market?

Accepted Answer

This property has been listed for 7 days. The average days on market in Elk Ridge is 152 days, meaning this listing is moving faster than the local average. This is a fresh listing — act quickly if interested.

Question 13

Is 331 PARK, Elk Ridge a good investment property?

Accepted Answer

Based on market rental data, this property has an estimated annual rent of $9,987 with a gross rental yield of 1.9%. Net rental yield (after estimated expenses): 1.3%.  Estimated debt service coverage ratio (DSCR): 0.25. Investor score: 42/100. These are estimates based on area comparables.

Question 14

What is the estimated rental income for 331 PARK, Elk Ridge?

Accepted Answer

Based on area comparables, the estimated monthly rent for this property is $832 ($9,984/year). The gross rent multiplier is 51.6x (lower is generally better for investors). Actual rental income will depend on property condition, local demand, and management approach.

Question 15

What recreation is near 331 PARK, Elk Ridge?

Accepted Answer

This property has a recreation score of 59/100. Nearby recreation includes: Red Lake trailhead (4.2 mi); Shuler Park park (0.3 mi); Gladstan Golf Course (0.5 mi); Utah Lake State Park (15.0 mi); Capitol Reef NP — Cathedral Valley (112.7 mi). Skiing: Sundance Resort (25.5 mi). Utah offers world-class outdoor recreation year-round, from skiing to hiking to national parks.

Question 16

Are there hiking trails near 331 PARK, Elk Ridge?

Accepted Answer

Yes, the nearest trailhead is Red Lake, just 4.2 miles from the property. Utah Lake State Park is 15.0 miles away. Utah has over 10,000 miles of hiking trails across its diverse terrain, from desert canyons to alpine meadows.

Question 17

What amenities and services are near 331 PARK, Elk Ridge?

Accepted Answer

This property has an amenity proximity score of 63/100. Nearby services include: Grocery: Macey's Santaquin (5.9 mi); Hospital: University Place (7.8 mi); Pharmacy: Santaquin Pharmacy (6.0 mi); Dining: Marco's pizza (5.6 mi). Gas station: 2.4 miles. Gym: Flippin' Out Tumbling & Cheer (3.1 mi).

Question 18

How far is the nearest hospital from 331 PARK, Elk Ridge?

Accepted Answer

The nearest hospital is University Place, approximately 7.8 miles from the property. The nearest fire station is 1.6 miles away. Proximity to emergency services is an important safety factor for homebuyers.

Question 19

What schools serve 331 PARK, Elk Ridge?

Accepted Answer

Assigned schools: Elementary: Foothills; Middle: Salem Jr; High: Salem Hills.   School district: Nebo.

Question 20

How does this listing compare to the Elk Ridge market?

Accepted Answer

331 PARK, Elk Ridge is listed at $515,000, which is below the Elk Ridge median of $580,000 by $65,000. There are currently 24 active listings in Elk Ridge. Homes in Elk Ridge sell in an average of 152 days. The average sale-to-list ratio is 98.0%.

Question 21

How does this price compare to the Utah state average?

Accepted Answer

At $515,000, this property is above the Utah state median of $510,000 by $5,000. Elk Ridge prices are 14% above the state average. Utah's housing market varies significantly by region — front-range cities near SLC are typically more expensive than rural areas.

Question 22

What is the Propaired intelligence score for 331 PARK, Elk Ridge?

Accepted Answer

This property has a Propaired intelligence score of 39/100, combining deal value (59), recreation access (59), amenity proximity (63), broadband quality (N/A), and lifestyle features (0 tags). This composite score helps buyers quickly identify properties that match their priorities.

Question 23

What heating and cooling systems does 331 PARK, Elk Ridge have?

Accepted Answer

Heating: Gas: Central. Cooling: Central Air. Given the age of this home, it may be worth requesting a professional HVAC inspection to assess system efficiency and remaining lifespan. Utah's climate ranges from sub-zero winters to 100°F+ summers, making reliable heating and cooling essential.

Question 24

What type of roof does 331 PARK, Elk Ridge have?

Accepted Answer

The roof material is Asphalt. Asphalt shingles typically last 20-30 years in Utah's climate. With a 47-year-old home, reviewing recent roof inspections is recommended.

Question 25

Does 331 PARK, Elk Ridge have a basement?

Accepted Answer

Yes, the basement is described as: Entrance,Full,Walk-Out Access. Basements in Utah are common and add versatile living or storage space. Check for any signs of moisture or foundation issues during the home inspection.

Question 26

What is 331 PARK, Elk Ridge constructed from?

Accepted Answer

Construction materials include: Aluminum,Brick. Brick construction is durable and low-maintenance, offering excellent insulation and fire resistance.

Question 27

What type of flooring does 331 PARK, Elk Ridge have?

Accepted Answer

Flooring types include: Carpet,Laminate,Linoleum.   Carpeted areas provide warmth and comfort, especially in bedrooms.

Question 28

What are the water and sewer connections for 331 PARK, Elk Ridge?

Accepted Answer

Water source: Culinary. Sewer: Sewer: Connected,Sewer: Private.   Water is a critical consideration in Utah's arid climate.

Question 29

What shopping and dining is near 331 PARK, Elk Ridge?

Accepted Answer

The nearest restaurant is Marco's pizza (5.6 miles away) and the nearest grocery store is Macey's Santaquin (5.9 miles).   Overall amenity proximity score: 63/100.

Question 30

What would homeowner's insurance cost for 331 PARK, Elk Ridge?

Accepted Answer

Homeowner's insurance in Utah typically ranges from 0.3% to 0.5% of the home's value annually. For a home listed at $515,000, expect approximately $1,545-$2,575/year ($129-$215/month).  Older homes may see higher premiums due to outdated electrical or plumbing systems. Get multiple quotes — rates vary significantly by insurer.

Question 31

What are the estimated closing costs for 331 PARK, Elk Ridge?

Accepted Answer

Closing costs in Utah typically range from 2-5% of the purchase price. For a home at $515,000, expect approximately $10,300-$25,750 in closing costs. This includes title insurance, escrow fees, lender fees, recording fees, and prepaid items (insurance, taxes). Buyers should also budget for a home inspection ($300-$500), appraisal ($400-$600), and any lender-required reserves.

Question 32

How does the property tax compare to the list price at 331 PARK, Elk Ridge?

Accepted Answer

The annual property tax of $2,423 represents an effective rate of 0.47% relative to the list price of $515,000. This is below the Utah average effective rate of approximately 0.58%, which is favorable for the buyer. Property taxes in Utah are assessed by the county and can change when the property is sold.

Question 33

What are the total estimated monthly costs for 331 PARK, Elk Ridge?

Accepted Answer

Estimated total monthly housing cost: $2,903. This includes principal & interest ($2,529 at 6.22% with 20% down), property tax ($202/mo), and estimated insurance (~$172/mo). Actual costs will vary based on your down payment, credit score, and insurance quotes.

Question 34

Is 331 PARK, Elk Ridge eligible for FHA or VA financing?

Accepted Answer

At $515,000, this property is likely within FHA loan limits for most Utah counties. VA loans have no price cap but require VA eligibility.    Consult a mortgage lender for personalized eligibility.

Question 35

What is the estimated cap rate for 331 PARK, Elk Ridge?

Accepted Answer

The estimated cap rate (net rental yield) for this property is 1.3%, based on estimated annual rent of $9,987 and a purchase price of $515,000. Lower cap rates often indicate appreciation-focused markets where property values are expected to rise.

Question 36

Is Elk Ridge a good rental market?

Accepted Answer

Estimated monthly rent in Elk Ridge is approximately $1,523. Homes in Elk Ridge sell in an average of 152 days, indicating moderate demand in this market. There are 24 active listings currently. Gross rental yield in this area: 1.9%. Utah's steady population growth continues to drive rental demand.

Question 37

Could 331 PARK, Elk Ridge be a 1031 exchange property?

Accepted Answer

Yes, 331 PARK, Elk Ridge could potentially qualify for a 1031 like-kind exchange if used as an investment or business property. A 1031 exchange allows deferral of capital gains taxes by reinvesting proceeds from one investment property into another. Key requirements include identifying a replacement property within 45 days and closing within 180 days. The property must be held for investment purposes — personal residences do not qualify. Consult a qualified intermediary and tax advisor for specific guidance.

Question 38

How does 331 PARK, Elk Ridge compare to recently sold homes nearby?

Accepted Answer

Based on 10 comparable properties, the median sold price in this area is $737,900. This listing is 30% below the comparable median. It ranks Deep Discount among similar listings by value.  Comparable analysis is based on similar size, age, and location.

Question 39

Is the Elk Ridge neighborhood appreciating in value?

Accepted Answer

Based on Zillow Home Value Index data, property values in this area have appreciated 4.1% over the past year. The current Zillow Home Value Index for this area is $713,750. This listing is priced at 72% of the ZHVI estimate. Past appreciation is not a guarantee of future performance.

Question 40

What is the price trend in Elk Ridge?

Accepted Answer

Elk Ridge's median price has decreased 22.6% month-over-month. Current median: $580,000. Days on market have decreased by 2.8% month-over-month. Homes are selling at 98.0% of list price on average. Monitor these trends to time your offer strategically.

Question 41

Is 331 PARK, Elk Ridge overpriced or underpriced?

Accepted Answer

Propaired's AI classifies this property as "Exceptional Deal." At 30% below comparable homes, this property appears competitively priced. Deal score: 59/100. Always confirm with a local real estate professional who can provide a comparative market analysis.

Question 42

What school district is 331 PARK, Elk Ridge in?

Accepted Answer

This property is in the Nebo school district. Assigned elementary: Foothills. Assigned middle: Salem Jr. Assigned high: Salem Hills. School district boundaries can affect property values by 5-15%. Contact the district directly to confirm current enrollment boundaries, as they may change.

Question 43

What parks are near 331 PARK, Elk Ridge?

Accepted Answer

The nearest local park is Shuler Park (0.3 miles away). The nearest state park is Utah Lake State Park (15.0 miles). Nearest national park: Capitol Reef NP — Cathedral Valley (112.7 miles). Parks and green spaces contribute to quality of life and are a positive factor for property values.

Question 44

Is there a golf course near 331 PARK, Elk Ridge?

Accepted Answer

The nearest golf course is Gladstan Golf Course, 0.5 miles from the property. Utah has over 80 golf courses statewide with a season running from March through November in most areas. Close proximity to a golf course is a desirable feature that can enhance property value.

Question 45

What water activities are near 331 PARK, Elk Ridge?

Accepted Answer

Water recreation near this property includes: Utah Lake (15.1 mi); boat ramp at Lincoln Point (11.0 mi); fishing at Provo River (21.4 mi).  Utah offers diverse water recreation from mountain reservoirs to desert lakes. Popular activities include boating, kayaking, paddle boarding, and fishing — a Utah fishing license is required for anglers.

Question 46

Is 331 PARK, Elk Ridge move-in ready?

Accepted Answer

Property condition is listed as: Blt./Standing.

Question 47

What updates might 331 PARK, Elk Ridge need?

Accepted Answer

At 47 years old, common updates to consider include: roof replacement (if original), HVAC system update, electrical panel upgrade, water heater replacement. Current roof: Asphalt. Current heating: Gas: Central. These are general guidelines based on typical component lifespans — the actual condition depends on maintenance history. Always get a professional inspection and ask the seller for maintenance records and any recent upgrades.

Question 48

Does 331 PARK, Elk Ridge come with a home warranty?

Accepted Answer

No home warranty is currently included with this property. Buyers can request a home warranty as part of the purchase negotiation — they typically cost $400-$700/year and cover major systems and appliances. This is especially valuable for older homes.

Question 49

What is the lot like at 331 PARK, Elk Ridge?

Accepted Answer

The lot is 0.28 acres. Lot features: Corner Lot,Curb & Gutter,Fenced: Full,Road: Paved,Sprinkler: Auto-Full,Terrain: Grad Slope,View: Lake,View: Mountain. Terrain: Corner Lot, Curb & Gutter, Fenced: Full, Road: Paved, Sprinkler: Auto-Full, Terrain: Grad Slope, View: Lake, View: Mountain. Views: Lake,Mountain(s).  Lot characteristics affect usability, privacy, and future improvement potential.

Question 50

What utilities are available at 331 PARK, Elk Ridge?

Accepted Answer

Available utilities include: Natural Gas Connected,Electricity Connected,Sewer Connected,Sewer: Private,Water Connected. Water source: Culinary. Sewer: Sewer: Connected,Sewer: Private. Utility costs in Utah vary by season — expect higher heating bills in winter and cooling costs in summer. Contact local utility providers for average monthly cost estimates for this address.

Question 51

Does 331 PARK, Elk Ridge have natural gas?

Accepted Answer

Yes, this property has natural gas service — the heating system is listed as: Gas: Central. Natural gas is the most common and cost-effective heating fuel in Utah, typically 30-50% less expensive than electric heating. The cooling system (Central Air) operates separately. Natural gas availability also supports gas ranges, water heaters, and fireplaces.

331 PARK, Elk Ridge, UT 84651

331 E PARK DR, Elk Ridge, UT 84651

About This Property

Features & Amenities

Property Info

Financial

Structure & Systems

Parking

Schools

Property Intelligence

Recreation & Amenities

All Property Details

Elk Ridge Market Context

Location

Similar Homes

$680,000

$630,000

$829,000

$649,000

$1,075,000

Find Your Dream Home

Frequently Asked Questions

Discover