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. Current status: Active Under Contract.

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

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

Accepted Answer

This property has been listed for 169 days. The average days on market in Orem is 52 days, meaning this listing is taking longer than the local average. Extended time on market may present negotiation opportunities for buyers.

Question 10

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 11

What high school is near 508 40, Orem?

Accepted Answer

The nearest high school is Mountain View. View the full school profile on Propaired for test scores, enrollment, and student-to-teacher ratios.

Question 12

What elementary school is near 508 40, Orem?

Accepted Answer

The nearest elementary school is Suncrest (0.9 miles away). State performance score: 59%. District: Lumen Scholar Institute. Propaired provides full school ratings and comparison data for all schools in this area.

Question 13

What middle school is near 508 40, Orem?

Accepted Answer

The nearest middle school is Orem.

Question 14

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 15

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 $502,000 by $23,000. There are currently 161 active listings in Orem. Homes in Orem sell in an average of 52 days. The average sale-to-list ratio is 98.7%.

Question 16

What is the Orem real estate market like in 2026?

Accepted Answer

In 2026, the median home price in Orem is $502,000. There are currently 161 active listings. Homes sell in an average of 52 days. The average sale-to-list ratio is 98.7%. This listing at $525,000 is above the Orem 2026 median.

Question 17

Are there other homes for sale in Orem?

Accepted Answer

Yes — there are currently 161 active listings in Orem. Browse all Orem homes for sale at propaired.ai/listings/ut/orem. Prices range around a median of $502,000. Homes in Orem are selling in about 52 days on average.

Question 18

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 19

How does this price compare to the Utah state average?

Accepted Answer

At $525,000, this property is above the Utah state median of $517,990 by $7,010. 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 20

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 21

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 22

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 23

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 24

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 25

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 26

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 27

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 28

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 29

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 30

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 31

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 32

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 33

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 34

What is the price trend in Orem?

Accepted Answer

Orem's median price has decreased 0.2% month-over-month. Current median: $502,000. Days on market have increased by 22.6% month-over-month. Homes are selling at 98.7% of list price on average. Monitor these trends to time your offer strategically.

Question 35

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 36

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 37

Is 508 40, Orem move-in ready?

Accepted Answer

Property condition is listed as: Blt./Standing.

Question 38

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 39

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 40

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 41

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 42

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.

508 40, Orem, UT 84057

508 W 40 N, Orem, UT 84057

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