Question 1

What is the asking price for 508 40, Orem?

Accepted Answer

508 40, Orem is listed at $525,000 ($185/sqft). The original list price was $550,000, representing a reduction of $25,000. This listing is currently active and available for showings.

Question 2

How many bedrooms and bathrooms does 508 40, Orem have?

Accepted Answer

This Residential features 4 bedrooms, 3 bathrooms, 2,845 square feet of living space. It is a 2-story home. The lot is 0.11 acres.

Question 3

When was 508 40, Orem built?

Accepted Answer

This property was built in 1997, making it 29 years old. Homes from this era often feature solid construction. Buyers should review the condition of the roof, HVAC, and plumbing.

Question 4

What type of property is 508 40, Orem?

Accepted Answer

508 40, Orem is a Residential (Twin). The architectural style is Rambler/Ranch. It is located in the MOUNTAIN ROSE ESTATES subdivision. Zoning: Single-Family.

Question 5

Does 508 40, Orem 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 508 40, Orem?

Accepted Answer

Yes, this property is part of a homeowners association. HOA fees are $60 monthly. HOA fees typically cover shared amenities, landscaping, and community maintenance.

Question 7

What are the property taxes for 508 40, Orem?

Accepted Answer

Annual property taxes for this property are approximately $1,967 (about $164/month). This represents an effective tax rate of approximately 0.37% of the list price. Property taxes in Utah vary by county and are subject to change.

Question 8

What are the key features of 508 40, Orem?

Accepted Answer

Interior features include: Bath: Primary, Closet: Walk-In, Disposal, Gas Log, Range/Oven: Built-In. Exterior features include: Double Pane Windows, Patio: Covered. The home has 1 fireplace.   View: Mountain(s).

Question 9

Is 508 40, Orem a good deal?

Accepted Answer

Propaired's AI deal analysis classifies this property as a "Standard" with a deal score of 27/100. Key deal signals: Priced 6% below market median (per-type); 3.6% year-over-year market appreciation; 5% price reduction from original list.  This analysis considers price relative to comparables, days on market, price reductions, and market conditions.

Question 10

Has the price been reduced on 508 40, Orem?

Accepted Answer

Yes, the price has been reduced by 4.5% from the original list price of $550,000 to the current price of $525,000 — a reduction of $25,000. Price reductions can indicate seller motivation or market adjustment.

Question 11

What would the monthly mortgage payment be for 508 40, Orem?

Accepted Answer

At the current 30-year mortgage rate of 6.46% with 20% down, the estimated monthly principal and interest payment is $2,644. Including estimated taxes and HOA fees, the total monthly cost is approximately $2,868. A 15-year mortgage at 5.77% would be $3,492/month but saves significantly on interest. These are estimates — contact a lender for a personalized quote.

Question 12

How long has 508 40, Orem been on the market?

Accepted Answer

This property has been listed for 111 days. The average days on market in Orem is 65 days, meaning this listing is taking longer than the local average. Extended time on market may present negotiation opportunities for buyers.

Question 13

Is 508 40, Orem a good investment property?

Accepted Answer

Based on market rental data, this property has an estimated annual rent of $22,982 with a gross rental yield of 4.4%. Net rental yield (after estimated expenses): 2.9%.  Estimated debt service coverage ratio (DSCR): 0.54. Investor score: 48/100. These are estimates based on area comparables.

Question 14

What is the estimated rental income for 508 40, Orem?

Accepted Answer

Based on area comparables, the estimated monthly rent for this property is $1,915 ($22,980/year). The gross rent multiplier is 22.8x (lower is generally better for investors). Actual rental income will depend on property condition, local demand, and management approach.

Question 15

What lifestyle features does 508 40, Orem offer?

Accepted Answer

Propaired's AI has identified 2 lifestyle features for this property: Scenic Views, New Construction. The primary lifestyle niche is "new_construction." These tags are derived from MLS data, property features, and location analysis.

Question 16

Is 508 40, Orem near skiing?

Accepted Answer

This property is within reach of skiing. Sundance Resort is 8.1 miles away. Utah's world-class resorts offer 500+ inches of annual snowfall and "The Greatest Snow on Earth."

Question 17

Is 508 40, Orem new construction?

Accepted Answer

Yes, this is a new construction property built in 1997. New construction in Utah typically includes modern energy codes, current building standards, builder warranties, and contemporary finishes.  Review the builder warranty terms and any remaining items on the builder punch list.

Question 18

What recreation is near 508 40, Orem?

Accepted Answer

This property has a recreation score of 69/100. Nearby recreation includes: Firing Range (BST Orem) trailhead (2.5 mi); IHC Soccer Fields park (0.4 mi); Topgolf (1.8 mi); Utah Lake State Park (8.7 mi). Skiing: Sundance Resort (8.1 mi). Utah offers world-class outdoor recreation year-round, from skiing to hiking to national parks.

Question 19

Are there hiking trails near 508 40, Orem?

Accepted Answer

Yes, the nearest trailhead is Firing Range (BST Orem), just 2.5 miles from the property. Utah Lake State Park is 8.7 miles away. Utah has over 10,000 miles of hiking trails across its diverse terrain, from desert canyons to alpine meadows.

Question 20

What amenities and services are near 508 40, Orem?

Accepted Answer

This property has an amenity proximity score of 99/100. Nearby services include: Grocery: 7-Eleven (0.3 mi); Hospital: Clínica del Dr. Mateos (0.4 mi); Pharmacy: Orem Family Pharmacy (0.5 mi); Dining: Arepón Venezolano (0.2 mi). Gas station: 0.4 miles. Gym: Planet Fitness (0.3 mi).

Question 21

How far is the nearest hospital from 508 40, Orem?

Accepted Answer

The nearest hospital is Clínica del Dr. Mateos, approximately 0.4 miles from the property. The nearest fire station is 0.5 miles away. Proximity to emergency services is an important safety factor for homebuyers.

Question 22

What schools serve 508 40, Orem?

Accepted Answer

Assigned schools: Elementary: Suncrest; Middle: Orem; High: Mountain View. There are 10 schools within 3 miles of this property. The highest-rated nearby school is Walden School of Liberal Arts with a 64% state performance score (2.7 miles away). School district: Alpine.

Question 23

How good are the schools near 508 40, Orem?

Accepted Answer

Of the 10 schools within 3 miles, 10 have state performance data with an average score of 56%.  School quality is a key factor in home values — properties near top-rated schools typically command a 5-10% premium. Visit each school's detail page on Propaired for full performance breakdowns.

Question 24

What is the internet speed at 508 40, Orem?

Accepted Answer

This property has a broadband score of 100/100 (Excellent). Best available speed: 10000 Mbps download / 10000 Mbps upload. Fiber internet is available at this address. Available providers: AT&T (100 Mbps, Fixed Wireless); Beehive Broadband (1000 Mbps, Fiber); CenturyLink (940 Mbps, Fiber). Total providers: 14.

Question 25

Is 508 40, Orem in a flood zone?

Accepted Answer

This property is classified as low. FEMA flood zone: X (AREA OF MINIMAL FLOOD HAZARD). Flood insurance is not typically required but may be recommended.  Always verify current FEMA maps as they are periodically updated.

Question 26

How does this listing compare to the Orem market?

Accepted Answer

508 40, Orem is listed at $525,000, which is above the Orem median of $493,000 by $32,000. There are currently 128 active listings in Orem. Homes in Orem sell in an average of 65 days. The average sale-to-list ratio is 98.6%.

Question 27

What is the Orem neighborhood like?

Accepted Answer

College town atmosphere adjacent to Provo. Affordable, good schools, diverse population, shopping centers, family activities. Growing job market. Orem is known for: affordable, family-friendly, college-town, diverse. Population: approximately 100,000. Explore the full Orem market data and community guide on Propaired.

Question 28

How does this price compare to the Utah state average?

Accepted Answer

At $525,000, this property is above the Utah state median of $510,000 by $15,000. Orem prices are 3% below the state average. Utah's housing market varies significantly by region — front-range cities near SLC are typically more expensive than rural areas.

Question 29

What is the Propaired intelligence score for 508 40, Orem?

Accepted Answer

This property has a Propaired intelligence score of 55/100, combining deal value (27), recreation access (69), amenity proximity (99), broadband quality (100), and lifestyle features (2 tags). This composite score helps buyers quickly identify properties that match their priorities.

Question 30

What heating and cooling systems does 508 40, Orem have?

Accepted Answer

Heating: Forced Air,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 31

What type of roof does 508 40, Orem have?

Accepted Answer

The roof material is Asphalt. Asphalt shingles typically last 20-30 years in Utah's climate. With a 29-year-old home, reviewing recent roof inspections is recommended.

Question 32

Does 508 40, Orem have a basement?

Accepted Answer

Yes, the basement is described as: Full. 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 33

What is 508 40, Orem constructed from?

Accepted Answer

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

Question 34

What type of flooring does 508 40, Orem have?

Accepted Answer

Flooring types include: Carpet,Laminate,Tile.  Tile flooring is durable and ideal for high-traffic areas and bathrooms. Carpeted areas provide warmth and comfort, especially in bedrooms.

Question 35

What are the water and sewer connections for 508 40, Orem?

Accepted Answer

Water source: Culinary. Sewer: Sewer: Connected,Sewer: Public.  Municipal sewer service means no septic maintenance costs. Water is a critical consideration in Utah's arid climate.

Question 36

What is the commute like from 508 40, Orem?

Accepted Answer

508 40, Orem is located in Orem, in the Wasatch Front region of Utah. With a population of approximately 100,000, Orem offers a residential setting. Commute times vary by destination — most Wasatch Front cities are within 30-60 minutes of downtown Salt Lake City via I-15. Consider rush-hour traffic patterns when evaluating this location.

Question 37

What shopping and dining is near 508 40, Orem?

Accepted Answer

The nearest restaurant is Arepón Venezolano (0.2 miles away) and the nearest grocery store is 7-Eleven (0.3 miles). Coffee: 7-Eleven (0.3 mi). Banking: First Colony Mortgage Corporation (0.3 mi). Overall amenity proximity score: 99/100.

Question 38

What is the Orem community like?

Accepted Answer

Orem is known for: affordable, family-friendly, college-town, diverse, good-schools. The city has approximately 100,000 residents. The median home price in Orem is $380,000. Explore the full Orem community profile on Propaired for detailed neighborhood insights.

Question 39

Is Orem a safe and family-friendly area?

Accepted Answer

Orem is characterized as: family-friendly. With a population of about 100,000, Orem offers a family-oriented environment. For detailed crime statistics and neighborhood safety data, consult local law enforcement resources and community reports.

Question 40

What would homeowner's insurance cost for 508 40, Orem?

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 $525,000, expect approximately $1,575-$2,625/year ($131-$219/month).   Get multiple quotes — rates vary significantly by insurer.

Question 41

What are the estimated closing costs for 508 40, Orem?

Accepted Answer

Closing costs in Utah typically range from 2-5% of the purchase price. For a home at $525,000, expect approximately $10,500-$26,250 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 42

How does the property tax compare to the list price at 508 40, Orem?

Accepted Answer

The annual property tax of $1,967 represents an effective rate of 0.37% relative to the list price of $525,000. 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 43

What are the total estimated monthly costs for 508 40, Orem?

Accepted Answer

Estimated total monthly housing cost: $3,043. This includes principal & interest ($2,644 at 6.46% with 20% down), property tax ($164/mo), HOA ($60/mo), and estimated insurance (~$175/mo). Actual costs will vary based on your down payment, credit score, and insurance quotes.

Question 44

Is 508 40, Orem eligible for FHA or VA financing?

Accepted Answer

At $525,000, this property may exceed standard FHA loan limits and could require a conventional or jumbo loan. VA loans have no price cap but require VA eligibility.    Consult a mortgage lender for personalized eligibility.

Question 45

What is the estimated cap rate for 508 40, Orem?

Accepted Answer

The estimated cap rate (net rental yield) for this property is 2.9%, based on estimated annual rent of $22,982 and a purchase price of $525,000. Lower cap rates often indicate appreciation-focused markets where property values are expected to rise.

Question 46

Is Orem a good rental market?

Accepted Answer

Estimated monthly rent in Orem is approximately $1,477. Homes in Orem sell in an average of 65 days, indicating moderate demand in this market. There are 128 active listings currently. Gross rental yield in this area: 4.4%. Utah's steady population growth continues to drive rental demand.

Question 47

Could 508 40, Orem be a 1031 exchange property?

Accepted Answer

Yes, 508 40, Orem 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 48

Is the Orem neighborhood appreciating in value?

Accepted Answer

Based on Zillow Home Value Index data, property values in this area have appreciated 3.6% over the past year. The current Zillow Home Value Index for this area is $496,216. This listing is priced at 106% of the ZHVI estimate. Past appreciation is not a guarantee of future performance.

Question 49

What is the price trend in Orem?

Accepted Answer

Orem's median price has increased 9.9% month-over-month. Current median: $493,000. Days on market have increased by 11.6% month-over-month. Homes are selling at 98.6% of list price on average. Monitor these trends to time your offer strategically.

Question 50

What school district is 508 40, Orem in?

Accepted Answer

This property is in the Alpine school district. Assigned elementary: Suncrest. Assigned middle: Orem. Assigned high: Mountain View. School district boundaries can affect property values by 5-15%. Contact the district directly to confirm current enrollment boundaries, as they may change.

Question 51

How do nearby schools rank statewide?

Accepted Answer

Of the 10 nearby schools with state rankings, the highest-ranked is Canyon View Jr High at #175 statewide (52% performance score). Other ranked nearby schools include Lakeridge Jr High (#181) and Trailside Elementary (#203). Utah has approximately 1,000+ public schools, so a top-200 ranking indicates a strong-performing school.

Question 52

What parks are near 508 40, Orem?

Accepted Answer

The nearest local park is IHC Soccer Fields (0.4 miles away). The nearest state park is Utah Lake State Park (8.7 miles).  Parks and green spaces contribute to quality of life and are a positive factor for property values.

Question 53

Is there a golf course near 508 40, Orem?

Accepted Answer

The nearest golf course is Topgolf, 1.8 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 54

What water activities are near 508 40, Orem?

Accepted Answer

Water recreation near this property includes: Utah Lake (6.8 mi); boat ramp at Lindon Boat Harbor (3.7 mi); fishing at Provo River (6.4 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 55

Is 508 40, Orem move-in ready?

Accepted Answer

As new construction, this home is expected to be move-in ready with modern finishes and warranties.

Question 56

What updates might 508 40, Orem need?

Accepted Answer

At 29 years old, common updates to consider include: roof replacement (if original), HVAC system update, water heater replacement. Current roof: Asphalt. Current heating: Forced Air,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 57

Does 508 40, Orem 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 58

What is the lot like at 508 40, Orem?

Accepted Answer

The lot is 0.11 acres. Lot features: Curb & Gutter,Fenced: Part,Road: Paved,Sidewalks,Sprinkler: Auto-Full,View: Mountain. Terrain: Curb & Gutter, Fenced: Part, Road: Paved, Sidewalks, Sprinkler: Auto-Full, Terrain, Flat, View: Mountain. Views: Mountain(s).  Lot characteristics affect usability, privacy, and future improvement potential.

Question 59

What utilities are available at 508 40, Orem?

Accepted Answer

Available utilities include: Natural Gas Connected,Electricity Connected,Sewer Connected,Sewer: Public,Water Connected. Water source: Culinary. Sewer: Sewer: Connected,Sewer: Public. 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 60

Does 508 40, Orem have natural gas?

Accepted Answer

Yes, this property has natural gas service — the heating system is listed as: Forced Air,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.

Question 61

Is there EV charging near 508 40, Orem?

Accepted Answer

The nearest EV charging station is ChargePoint Charging Station, approximately 0.6 miles from the property. With a 2-car garage, installing a home Level 2 EV charger is straightforward — most installations cost $500-$2,000 including the charger. Utah offers a growing EV charging network along major corridors and in urban centers. Convenient public charging is available nearby for supplemental needs.

508 40, Orem, UT 84057

508 W 40 N, Orem, UT 84057

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