Question 1

What is the asking price for 507 5TH, Salt Lake City?

Accepted Answer

507 5TH, Salt Lake City is listed at $575,000 ($473/sqft).  Current status: Pending.

Question 2

How many bedrooms and bathrooms does 507 5TH, Salt Lake City have?

Accepted Answer

This Residential features 2 bedrooms, 1 bathroom, 1,216 square feet of living space. It is a 2-story home. The lot is 0.12 acres.

Question 3

When was 507 5TH, Salt Lake City built?

Accepted Answer

This property was built in 1911, making it 115 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 507 5TH, Salt Lake City?

Accepted Answer

507 5TH, Salt Lake City is a Residential (Single Family Residence). The architectural style is Bungalow/Cottage. It is located in the AVENUES subdivision. Zoning: Single-Family.

Question 5

Does 507 5TH, Salt Lake City have a garage or parking?

Accepted Answer

Yes, this property includes 2 open parking spaces. Total parking capacity: 2 vehicles.

Question 6

Is there an HOA for 507 5TH, Salt Lake City?

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 507 5TH, Salt Lake City?

Accepted Answer

Annual property taxes for this property are approximately $2,781 (about $232/month). This represents an effective tax rate of approximately 0.48% of the list price. Property taxes in Utah vary by county and are subject to change.

Question 8

What are the key features of 507 5TH, Salt Lake City?

Accepted Answer

Interior features include: Alarm: Fire, Disposal, Kitchen: Updated, Oven: Wall, Range: Countertop. Exterior features include: Bay Box Windows, Double Pane Windows, Entry (Foyer), Out Buildings, Porch: Open.    View: Mountain(s),Valley.

Question 9

Is 507 5TH, 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 40/100. Key deal signals: Priced 37% below similar homes. The price is 37% 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 $912,000 (based on 10 homes). At $575,000, this listing is 37% 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 507 5TH, Salt Lake City?

Accepted Answer

At the current 30-year mortgage rate of 6.11% with 20% down, the estimated monthly principal and interest payment is $2,791. Including estimated taxes, the total monthly cost is approximately $3,023. A 15-year mortgage at 5.50% would be $3,759/month but saves significantly on interest. These are estimates — contact a lender for a personalized quote.

Question 12

How long has 507 5TH, Salt Lake City been on the market?

Accepted Answer

This property has been listed for 42 days. The average days on market in Salt Lake City is 68 days, meaning this listing is moving faster than the local average.

Question 13

Is 507 5TH, Salt Lake City a good investment property?

Accepted Answer

Based on market rental data, this property has an estimated annual rent of $10,565 with a gross rental yield of 1.8%. Net rental yield (after estimated expenses): 1.2%.  Estimated debt service coverage ratio (DSCR): 0.24. Investor score: 14/100. These are estimates based on area comparables.

Question 14

What is the estimated rental income for 507 5TH, Salt Lake City?

Accepted Answer

Based on area comparables, the estimated monthly rent for this property is $880 ($10,560/year). The gross rent multiplier is 54.4x (lower is generally better for investors). Actual rental income will depend on property condition, local demand, and management approach.

Question 15

Is 507 5TH, Salt Lake City near skiing?

Accepted Answer

This property is within reach of skiing. Solitude Mountain Resort is 17.7 miles away. Utah's world-class resorts offer 500+ inches of annual snowfall and "The Greatest Snow on Earth."

Question 16

What recreation is near 507 5TH, Salt Lake City?

Accepted Answer

This property has a recreation score of 71/100. Nearby recreation includes: Morris Resv (BST SLC) trailhead (1.0 mi); Shipp Park park (0.1 mi); Bonneville Golf Course (3.3 mi); This Is The Place Heritage Park (3.4 mi); Capitol Reef NP — Cathedral Valley (166.2 mi). Skiing: Solitude Mountain Resort (17.7 mi). Utah offers world-class outdoor recreation year-round, from skiing to hiking to national parks.

Question 17

Are there hiking trails near 507 5TH, Salt Lake City?

Accepted Answer

Yes, the nearest trailhead is Morris Resv (BST SLC), just 1.0 miles from the property. This Is The Place Heritage Park is 3.4 miles away. Utah has over 10,000 miles of hiking trails across its diverse terrain, from desert canyons to alpine meadows.

Question 18

What schools serve 507 5TH, Salt Lake City?

Accepted Answer

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

Question 19

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

Accepted Answer

507 5TH, Salt Lake City is listed at $575,000, which is above the Salt Lake City median of $570,000 by $5,000. 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 20

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 21

How does this price compare to the Utah state average?

Accepted Answer

At $575,000, this property is above the Utah state median of $510,000 by $65,000. 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 22

What is the Propaired intelligence score for 507 5TH, Salt Lake City?

Accepted Answer

This property has a Propaired intelligence score of 30/100, combining deal value (40), recreation access (71), amenity proximity (N/A), 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 507 5TH, Salt Lake City 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 24

What type of roof does 507 5TH, Salt Lake City have?

Accepted Answer

The roof material is Asphalt. Asphalt shingles typically last 20-30 years in Utah's climate. With a 115-year-old home, reviewing recent roof inspections is recommended.

Question 25

Does 507 5TH, Salt Lake City have a basement?

Accepted Answer

Yes, the basement is described as: Partial. 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 507 5TH, Salt Lake City constructed from?

Accepted Answer

Construction materials include: Asbestos. The construction type affects long-term maintenance requirements and insurance costs.

Question 27

What type of flooring does 507 5TH, Salt Lake City have?

Accepted Answer

Flooring types include: Carpet,Hardwood,Tile. Hardwood floors are a premium feature that adds lasting value and can be refinished multiple times. Tile flooring is durable and ideal for high-traffic areas and bathrooms. Carpeted areas provide warmth and comfort, especially in bedrooms.

Question 28

What are the water and sewer connections for 507 5TH, 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 29

What is the commute like from 507 5TH, Salt Lake City?

Accepted Answer

507 5TH, 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 30

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 31

What would homeowner's insurance cost for 507 5TH, 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 $575,000, expect approximately $1,725-$2,875/year ($144-$240/month).  Older homes may see higher premiums due to outdated electrical or plumbing systems. Get multiple quotes — rates vary significantly by insurer.

Question 32

What are the estimated closing costs for 507 5TH, Salt Lake City?

Accepted Answer

Closing costs in Utah typically range from 2-5% of the purchase price. For a home at $575,000, expect approximately $11,500-$28,750 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 33

How does the property tax compare to the list price at 507 5TH, Salt Lake City?

Accepted Answer

The annual property tax of $2,781 represents an effective rate of 0.48% relative to the list price of $575,000. 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 34

What are the total estimated monthly costs for 507 5TH, Salt Lake City?

Accepted Answer

Estimated total monthly housing cost: $3,215. This includes principal & interest ($2,791 at 6.11% with 20% down), property tax ($232/mo), and estimated insurance (~$192/mo). Actual costs will vary based on your down payment, credit score, and insurance quotes.

Question 35

Is 507 5TH, Salt Lake City eligible for FHA or VA financing?

Accepted Answer

At $575,000, 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 36

What is the estimated cap rate for 507 5TH, Salt Lake City?

Accepted Answer

The estimated cap rate (net rental yield) for this property is 1.2%, based on estimated annual rent of $10,565 and a purchase price of $575,000. Lower cap rates often indicate appreciation-focused markets where property values are expected to rise.

Question 37

Is Salt Lake City a good rental market?

Accepted Answer

Estimated monthly rent in Salt Lake City is approximately $1,598. 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: 1.8%. Utah's steady population growth continues to drive rental demand.

Question 38

Could 507 5TH, Salt Lake City be a 1031 exchange property?

Accepted Answer

Yes, 507 5TH, 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 39

How does 507 5TH, Salt Lake City compare to recently sold homes nearby?

Accepted Answer

Based on 10 comparable properties, the median sold price in this area is $912,000. This listing is 37% below the comparable median. It ranks Deep Discount among similar listings by value.  Comparable analysis is based on similar size, age, and location.

Question 40

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 103% of the ZHVI estimate. Past appreciation is not a guarantee of future performance.

Question 41

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 42

Is 507 5TH, Salt Lake City overpriced or underpriced?

Accepted Answer

Propaired's AI classifies this property as "Great Deal (vs Similar)." At 37% below comparable homes, this property appears competitively priced. Deal score: 40/100. Always confirm with a local real estate professional who can provide a comparative market analysis.

Question 43

What school district is 507 5TH, Salt Lake City in?

Accepted Answer

This property is in the Salt Lake school district. Assigned elementary: Ensign. 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 44

What parks are near 507 5TH, Salt Lake City?

Accepted Answer

The nearest local park is Shipp Park (0.1 miles away). The nearest state park is This Is The Place Heritage Park (3.4 miles). Nearest national park: Capitol Reef NP — Cathedral Valley (166.2 miles). Parks and green spaces contribute to quality of life and are a positive factor for property values.

Question 45

Is there a golf course near 507 5TH, Salt Lake City?

Accepted Answer

The nearest golf course is Bonneville Golf Course, 3.3 miles from the property. Utah has over 80 golf courses statewide with a season running from March through November in most areas.

Question 46

What water activities are near 507 5TH, Salt Lake City?

Accepted Answer

Water recreation near this property includes: Rockport Reservoir (25.7 mi); boat ramp at Great Salt Lake State Marina (17.8 mi); fishing at Weber River (28.4 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 47

Is 507 5TH, Salt Lake City move-in ready?

Accepted Answer

Property condition is listed as: Blt./Standing.

Question 48

What updates might 507 5TH, Salt Lake City need?

Accepted Answer

At 115 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: 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 49

Does 507 5TH, 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 50

What is the lot like at 507 5TH, Salt Lake City?

Accepted Answer

The lot is 0.12 acres. Lot features: Curb & Gutter,Fenced: Full,Road: Paved,Secluded,Sidewalks,Sprinkler: Auto-Full,Terrain: Grad Slope,View: Mountain,View: Valley. Terrain: Curb & Gutter, Fenced: Full, Road: Paved, Secluded Yard, Sidewalks, Sprinkler: Auto-Full, Terrain: Grad Slope, View: Mountain, View: Valley. Views: Mountain(s),Valley.  Lot characteristics affect usability, privacy, and future improvement potential.

Question 51

What utilities are available at 507 5TH, 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 52

Does 507 5TH, 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.

507 5TH, Salt Lake City, UT 84103

507 E 5TH AVE, Salt Lake City, UT 84103

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