Question 1

What is the asking price for 5 500, Salt Lake City?

Accepted Answer

5 500, Salt Lake City is listed at $489,500 ($421/sqft). The original list price was $515,000, representing a reduction of $25,500. This listing is currently active and available for showings.

Question 2

How many bedrooms and bathrooms does 5 500, Salt Lake City have?

Accepted Answer

This Residential features 2 bedrooms, 2 bathrooms, 1,163 square feet of living space. It is a 1-story home. The lot is 0.01 acres.

Question 3

When was 5 500, Salt Lake City built?

Accepted Answer

This property was built in 2004, making it 22 years old. Built in the early 2000s, the home benefits from modern construction standards and may have updated systems.

Question 4

What type of property is 5 500, Salt Lake City?

Accepted Answer

5 500, Salt Lake City is a Residential (Condominium). The architectural style is Condo; Top Level. It is located in the PARC AT GATEWAY subdivision. Zoning: Multi-Family.

Question 5

Does 5 500, Salt Lake City have a garage or parking?

Accepted Answer

Yes, this property includes a 2-car garage and 2 open parking spaces. Total parking capacity: 4 vehicles.

Question 6

Is there an HOA for 5 500, Salt Lake City?

Accepted Answer

Yes, this property is part of a homeowners association. HOA fees are $392 monthly. HOA fees typically cover shared amenities, landscaping, and community maintenance.

Question 7

What are the property taxes for 5 500, Salt Lake City?

Accepted Answer

Annual property taxes for this property are approximately $2,300 (about $192/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 5 500, Salt Lake City?

Accepted Answer

Interior features include: Alarm: Fire, Bar: Dry, Bath: Primary, Bath: Sep. Tub/Shower, Closet: Walk-In. Exterior features include: Balcony, Double Pane Windows, Secured Building, Secured Parking. The home has 1 fireplace.   View: Mountain(s),Valley.

Question 9

Is 5 500, Salt Lake City a good deal?

Accepted Answer

Propaired's AI deal analysis classifies this property as a "Great Deal (vs Similar)" with a deal score of 24/100. Key deal signals: Priced 12% below similar homes; 5% price reduction from original list; 178.0 days on market — potential negotiation opportunity. The price is 12% 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 Salt Lake City?

Accepted Answer

The median price for similar properties in the area is $555,000 (based on 10 homes). At $489,500, this listing is 12% below the median for comparable homes. It ranks #Below Similar among similar listings by value.

Question 11

Has the price been reduced on 5 500, Salt Lake City?

Accepted Answer

Yes, the price has been reduced by 5.0% from the original list price of $515,000 to the current price of $489,500 — a reduction of $25,500. Price reductions can indicate seller motivation or market adjustment.

Question 12

What would the monthly mortgage payment be for 5 500, Salt Lake City?

Accepted Answer

At the current 30-year mortgage rate of 6.46% with 20% down, the estimated monthly principal and interest payment is $2,465. Including estimated taxes and HOA fees, the total monthly cost is approximately $3,049. A 15-year mortgage at 5.77% would be $3,256/month but saves significantly on interest. These are estimates — contact a lender for a personalized quote.

Question 13

How long has 5 500, Salt Lake City been on the market?

Accepted Answer

This property has been listed for 178 days. The average days on market in Salt Lake City is 68 days, meaning this listing is taking longer than the local average. Extended time on market may present negotiation opportunities for buyers.

Question 14

Is 5 500, Salt Lake City a good investment property?

Accepted Answer

Based on market rental data, this property has an estimated annual rent of $15,297 with a gross rental yield of 3.1%. Net rental yield (after estimated expenses): 2.0%.  Estimated debt service coverage ratio (DSCR): 0.39. Investor score: 20/100. These are estimates based on area comparables.

Question 15

What is the estimated rental income for 5 500, Salt Lake City?

Accepted Answer

Based on area comparables, the estimated monthly rent for this property is $1,275 ($15,300/year). The gross rent multiplier is 32.0x (lower is generally better for investors). Actual rental income will depend on property condition, local demand, and management approach.

Question 16

What lifestyle features does 5 500, Salt Lake City offer?

Accepted Answer

Propaired's AI has identified 5 lifestyle features for this property: Luxury Estate, Scenic Views, Gated Community, Walkable, Bikeable. The primary lifestyle niche is "luxury_estate." These tags are derived from MLS data, property features, and location analysis.

Question 17

What makes 5 500, Salt Lake City a luxury property?

Accepted Answer

This property is classified as a luxury estate based on its price point, features, and location. At 1,163 sqft on 0.01 acres, it offers premium living. Located in a gated community for added privacy and security. The property features scenic views.  Luxury properties in Utah benefit from no state estate tax and relatively low property tax rates.

Question 18

What recreation is near 5 500, Salt Lake City?

Accepted Answer

This property has a recreation score of 80/100. Nearby recreation includes: 600 S (JRP) trailhead (1.3 mi); 500 West Street Commons park (0.1 mi); Roots Disc Golf Course (2.6 mi); Jordan River OHV State Park (3.6 mi). Skiing: Snowbird Ski and Summer Resort (18.6 mi). Utah offers world-class outdoor recreation year-round, from skiing to hiking to national parks.

Question 19

Are there hiking trails near 5 500, Salt Lake City?

Accepted Answer

Yes, the nearest trailhead is 600 S (JRP), just 1.3 miles from the property. Jordan River OHV State Park is 3.6 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 5 500, Salt Lake City?

Accepted Answer

This property has an amenity proximity score of 100/100. Nearby services include: Grocery: The Store (0.0 mi); Hospital: Intermountain North Temple Clinic (0.6 mi); Pharmacy: Walgreens (0.7 mi); Dining: Dave & Buster's (0.1 mi). Gas station: 0.7 miles. Gym: All Together Skatepark (0.9 mi).

Question 21

How far is the nearest hospital from 5 500, Salt Lake City?

Accepted Answer

The nearest hospital is Intermountain North Temple Clinic, approximately 0.6 miles from the property. The nearest fire station is 0.7 miles away. Proximity to emergency services is an important safety factor for homebuyers.

Question 22

What schools serve 5 500, Salt Lake City?

Accepted Answer

Assigned schools: Elementary: Washington; Middle: Bryant; High: West.   School district: Salt Lake.

Question 23

What is the internet speed at 5 500, Salt Lake City?

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 (1000 Mbps, Fiber). Total providers: 15.

Question 24

Is 5 500, Salt Lake City 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 25

How does this listing compare to the Salt Lake City market?

Accepted Answer

5 500, Salt Lake City is listed at $489,500, which is below the Salt Lake City median of $570,000 by $80,500. There are currently 493 active listings in Salt Lake City. Homes in Salt Lake City sell in an average of 68 days. The average sale-to-list ratio is 98.2%.

Question 26

What is the Salt Lake City neighborhood like?

Accepted Answer

Utah's capital and largest city. Major job center with urban amenities, diverse neighborhoods, excellent schools, vibrant downtown. Gateway to skiing and outdoor recreation. Mixed urban/suburban living. Salt Lake City is known for: urban, diverse, job-center, walkable. Population: approximately 199,000. Explore the full Salt Lake City market data and community guide on Propaired.

Question 27

How does this price compare to the Utah state average?

Accepted Answer

At $489,500, this property is below the Utah state median of $510,000 by $20,500. Salt Lake City prices are 12% 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 28

What is the Propaired intelligence score for 5 500, Salt Lake City?

Accepted Answer

This property has a Propaired intelligence score of 62/100, combining deal value (24), recreation access (80), amenity proximity (100), broadband quality (100), and lifestyle features (5 tags). This composite score helps buyers quickly identify properties that match their priorities.

Question 29

What heating and cooling systems does 5 500, Salt Lake City have?

Accepted Answer

Heating: Forced Air,Gas: Central. Cooling: Central Air. Modern HVAC systems typically last 15-20 years with proper maintenance. Utah's climate ranges from sub-zero winters to 100°F+ summers, making reliable heating and cooling essential.

Question 30

What type of roof does 5 500, Salt Lake City have?

Accepted Answer

The roof material is Flat,Rubber. Ask the listing agent about the roof's age and any recent repairs. With a 22-year-old home, reviewing recent roof inspections is recommended.

Question 31

Does 5 500, Salt Lake City have a basement?

Accepted Answer

Yes, the basement is described as: None. 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 32

What type of flooring does 5 500, Salt Lake City have?

Accepted Answer

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

Question 33

What are the water and sewer connections for 5 500, Salt Lake City?

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 34

What is the commute like from 5 500, Salt Lake City?

Accepted Answer

5 500, Salt Lake City is located in Salt Lake City, in the Wasatch Front region of Utah. With a population of approximately 199,000, Salt Lake City has good transportation access. 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 35

What shopping and dining is near 5 500, Salt Lake City?

Accepted Answer

The nearest restaurant is Dave & Buster's (0.1 miles away) and the nearest grocery store is The Store (0.0 miles). Coffee: Midway Coffee (0.1 mi). Banking: Wells Fargo (0.1 mi). Overall amenity proximity score: 100/100.

Question 36

What is the Salt Lake City community like?

Accepted Answer

Salt Lake City is known for: urban, diverse, job-center, walkable, outdoor-access. The city has approximately 199,000 residents. The median home price in Salt Lake City is $650,000. Explore the full Salt Lake City community profile on Propaired for detailed neighborhood insights.

Question 37

What would homeowner's insurance cost for 5 500, Salt Lake City?

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 $489,500, expect approximately $1,469-$2,448/year ($122-$204/month).   Get multiple quotes — rates vary significantly by insurer.

Question 38

What are the estimated closing costs for 5 500, Salt Lake City?

Accepted Answer

Closing costs in Utah typically range from 2-5% of the purchase price. For a home at $489,500, expect approximately $9,790-$24,475 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 39

How does the property tax compare to the list price at 5 500, Salt Lake City?

Accepted Answer

The annual property tax of $2,300 represents an effective rate of 0.47% relative to the list price of $489,500. 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 40

What are the total estimated monthly costs for 5 500, Salt Lake City?

Accepted Answer

Estimated total monthly housing cost: $3,212. This includes principal & interest ($2,465 at 6.46% with 20% down), property tax ($192/mo), HOA ($392/mo), and estimated insurance (~$163/mo). Actual costs will vary based on your down payment, credit score, and insurance quotes.

Question 41

Is 5 500, Salt Lake City eligible for FHA or VA financing?

Accepted Answer

At $489,500, 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 42

What is the estimated cap rate for 5 500, Salt Lake City?

Accepted Answer

The estimated cap rate (net rental yield) for this property is 2.0%, based on estimated annual rent of $15,297 and a purchase price of $489,500. Lower cap rates often indicate appreciation-focused markets where property values are expected to rise.

Question 43

Is Salt Lake City a good rental market?

Accepted Answer

Estimated monthly rent in Salt Lake City is approximately $1,654. Homes in Salt Lake City sell in an average of 68 days, indicating moderate demand in this market. There are 493 active listings currently. Gross rental yield in this area: 3.1%. Utah's steady population growth continues to drive rental demand.

Question 44

Could 5 500, Salt Lake City be a 1031 exchange property?

Accepted Answer

Yes, 5 500, Salt Lake City 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 45

How does 5 500, Salt Lake City compare to recently sold homes nearby?

Accepted Answer

Based on 10 comparable properties, the median sold price in this area is $555,000. This listing is 12% below the comparable median. It ranks Below Similar among similar listings by value. The median for this property type specifically is $398,000. Comparable analysis is based on similar size, age, and location.

Question 46

Is the Salt Lake City neighborhood appreciating in value?

Accepted Answer

Based on Zillow Home Value Index data, property values in this area have appreciated 1.6% over the past year. The current Zillow Home Value Index for this area is $557,482. This listing is priced at 88% of the ZHVI estimate. Past appreciation is not a guarantee of future performance.

Question 47

What is the price trend in Salt Lake City?

Accepted Answer

Salt Lake City's median price has decreased 5.5% month-over-month. Current median: $570,000. Days on market have decreased by 21.1% month-over-month. Homes are selling at 98.2% of list price on average. Monitor these trends to time your offer strategically.

Question 48

Is 5 500, Salt Lake City overpriced or underpriced?

Accepted Answer

Propaired's AI classifies this property as "Great Deal (vs Similar)." At 12% below comparable homes, this property appears competitively priced. Deal score: 24/100. Always confirm with a local real estate professional who can provide a comparative market analysis.

Question 49

What school district is 5 500, Salt Lake City in?

Accepted Answer

This property is in the Salt Lake school district. Assigned elementary: Washington. Assigned middle: Bryant. Assigned high: West. School district boundaries can affect property values by 5-15%. Contact the district directly to confirm current enrollment boundaries, as they may change.

Question 50

What parks are near 5 500, Salt Lake City?

Accepted Answer

The nearest local park is 500 West Street Commons (0.1 miles away). The nearest state park is Jordan River OHV State Park (3.6 miles).  Parks and green spaces contribute to quality of life and are a positive factor for property values.

Question 51

Is there a golf course near 5 500, Salt Lake City?

Accepted Answer

The nearest golf course is Roots Disc Golf Course, 2.6 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 52

What water activities are near 5 500, Salt Lake City?

Accepted Answer

Water recreation near this property includes: Rockport Reservoir (27.3 mi); boat ramp at Great Salt Lake State Marina (16.2 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 53

Is 5 500, Salt Lake City move-in ready?

Accepted Answer

Property condition is listed as: Blt./Standing.

Question 54

What updates might 5 500, Salt Lake City need?

Accepted Answer

At 22 years old, common updates to consider include: HVAC system update. Current roof: Flat,Rubber. 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 55

Does 5 500, Salt Lake City 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 56

What is the lot like at 5 500, Salt Lake City?

Accepted Answer

The lot is 0.01 acres. Lot features: View: Mountain,View: Valley. Terrain: View: Mountain, View: Valley. Views: Mountain(s),Valley.  Lot characteristics affect usability, privacy, and future improvement potential.

Question 57

What utilities are available at 5 500, Salt Lake City?

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 58

Does 5 500, Salt Lake City 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 59

Is there EV charging near 5 500, Salt Lake City?

Accepted Answer

The nearest EV charging station is ChargePoint, approximately 0.4 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.

5 500, Salt Lake City, UT 84101

5 S 500 W #801, Salt Lake City, UT 84101

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