Question 1

What is the asking price for 505 BRIGHT, Salt Lake City?

Accepted Answer

505 BRIGHT, Salt Lake City is listed at $315,000 ($226/sqft). The original list price was $349,900, representing a reduction of $34,900. This listing is currently active and available for showings.

Question 2

How many bedrooms and bathrooms does 505 BRIGHT, Salt Lake City have?

Accepted Answer

This Residential features 4 bedrooms, 4 bathrooms, 1,395 square feet of living space.  The lot is 0.02 acres.

Question 3

When was 505 BRIGHT, Salt Lake City built?

Accepted Answer

This property was built in 1985, making it 41 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 505 BRIGHT, Salt Lake City?

Accepted Answer

505 BRIGHT, Salt Lake City is a Residential (Condominium). The architectural style is Stories: 2. It is located in the PARK subdivision. Zoning: Single-Family.

Question 5

Does 505 BRIGHT, Salt Lake City have a garage or parking?

Accepted Answer

Yes, this property includes a carport. Total parking capacity: 2 vehicles.

Question 6

Is there an HOA for 505 BRIGHT, Salt Lake City?

Accepted Answer

Yes, this property is part of a homeowners association. HOA fees are $167 monthly. HOA fees typically cover shared amenities, landscaping, and community maintenance.

Question 7

What are the property taxes for 505 BRIGHT, Salt Lake City?

Accepted Answer

Annual property taxes for this property are approximately $1,670 (about $139/month). This represents an effective tax rate of approximately 0.53% of the list price. Property taxes in Utah vary by county and are subject to change.

Question 8

Is 505 BRIGHT, Salt Lake City a good deal?

Accepted Answer

Propaired's AI deal analysis classifies this property as a "Exceptional Deal" with a deal score of 57/100. Key deal signals: Priced 17% below similar homes; Priced 21% below market median (per-type); 10% price reduction from original list. The price is 17% below similar homes in the area. This analysis considers price relative to comparables, days on market, price reductions, and market conditions.

Question 9

How does this price compare to similar homes in Salt Lake City?

Accepted Answer

The median price for similar properties in the area is $379,900 (based on 10 homes). At $315,000, this listing is 17% below the median for comparable homes. It ranks #Below Similar among similar listings by value.

Question 10

Has the price been reduced on 505 BRIGHT, Salt Lake City?

Accepted Answer

Yes, the price has been reduced by 10.0% from the original list price of $349,900 to the current price of $315,000 — a reduction of $34,900. Price reductions can indicate seller motivation or market adjustment.

Question 11

What would the monthly mortgage payment be for 505 BRIGHT, 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 $1,586. Including estimated taxes and HOA fees, the total monthly cost is approximately $1,892. A 15-year mortgage at 5.77% would be $2,095/month but saves significantly on interest. These are estimates — contact a lender for a personalized quote.

Question 12

How long has 505 BRIGHT, Salt Lake City been on the market?

Accepted Answer

This property has been listed for 27 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 505 BRIGHT, Salt Lake City a good investment property?

Accepted Answer

Based on market rental data, this property has an estimated annual rent of $12,782 with a gross rental yield of 4.1%. Net rental yield (after estimated expenses): 2.6%.  Estimated debt service coverage ratio (DSCR): 0.50. Investor score: 45/100. These are estimates based on area comparables.

Question 14

What is the estimated rental income for 505 BRIGHT, Salt Lake City?

Accepted Answer

Based on area comparables, the estimated monthly rent for this property is $1,065 ($12,780/year). The gross rent multiplier is 24.6x (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 505 BRIGHT, Salt Lake City offer?

Accepted Answer

Propaired's AI has identified 1 lifestyle feature for this property: Fixer-Upper. The primary lifestyle niche is "fixer_upper." These tags are derived from MLS data, property features, and location analysis.

Question 16

Is 505 BRIGHT, Salt Lake City a fixer-upper?

Accepted Answer

This property has been identified as a fixer-upper opportunity, meaning it may need renovation or updates but is priced accordingly. At 17% below comparable homes, there is potential upside after improvements. Get a thorough home inspection and renovation estimates before making an offer. An FHA 203(k) or Fannie Mae HomeStyle renovation loan may be applicable.

Question 17

What recreation is near 505 BRIGHT, Salt Lake City?

Accepted Answer

This property has a recreation score of 93/100. Nearby recreation includes: Ensign Peak trailhead (1.4 mi); Guadalupe Park park (0.0 mi); Roots Disc Golf Course (1.8 mi); Jordan River OHV State Park (2.8 mi). Skiing: Solitude Mountain Resort (19.4 mi). Utah offers world-class outdoor recreation year-round, from skiing to hiking to national parks.

Question 18

Are there hiking trails near 505 BRIGHT, Salt Lake City?

Accepted Answer

Yes, the nearest trailhead is Ensign Peak, just 1.4 miles from the property. Jordan River OHV State Park is 2.8 miles away. Utah has over 10,000 miles of hiking trails across its diverse terrain, from desert canyons to alpine meadows.

Question 19

What amenities and services are near 505 BRIGHT, Salt Lake City?

Accepted Answer

This property has an amenity proximity score of 94/100. Nearby services include: Grocery: Lee's Market (0.4 mi); Hospital: Intermountain North Temple Clinic (0.6 mi); Pharmacy: Smith's Pharmacy (0.9 mi); Dining: Koyote (0.2 mi). Gas station: 0.6 miles. Gym: All Together Skatepark (1.8 mi).

Question 20

How far is the nearest hospital from 505 BRIGHT, 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 0.6 miles away. Proximity to emergency services is an important safety factor for homebuyers.

Question 21

What schools serve 505 BRIGHT, Salt Lake City?

Accepted Answer

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

Question 22

What is the internet speed at 505 BRIGHT, Salt Lake City?

Accepted Answer

This property has a broadband score of 100/100 (Excellent). Best available speed: 8000 Mbps download / 8000 Mbps upload. Fiber internet is available at this address. Available providers: AT&T (100 Mbps, Fixed Wireless); CenturyLink (1000 Mbps, Fiber); CenturyLink (140 Mbps, DSL). Total providers: 11.

Question 23

Is 505 BRIGHT, 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 24

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

Accepted Answer

505 BRIGHT, Salt Lake City is listed at $315,000, which is below the Salt Lake City median of $570,000 by $255,000. 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 25

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 26

How does this price compare to the Utah state average?

Accepted Answer

At $315,000, this property is below the Utah state median of $510,000 by $195,000. 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 27

What is the Propaired intelligence score for 505 BRIGHT, Salt Lake City?

Accepted Answer

This property has a Propaired intelligence score of 65/100, combining deal value (57), recreation access (93), amenity proximity (94), broadband quality (100), and lifestyle features (1 tags). This composite score helps buyers quickly identify properties that match their priorities.

Question 28

What heating and cooling systems does 505 BRIGHT, 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 29

What type of roof does 505 BRIGHT, Salt Lake City have?

Accepted Answer

The roof material is Asphalt. Asphalt shingles typically last 20-30 years in Utah's climate. With a 41-year-old home, reviewing recent roof inspections is recommended.

Question 30

Does 505 BRIGHT, Salt Lake City 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 31

What is 505 BRIGHT, Salt Lake City constructed from?

Accepted Answer

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

Question 32

What type of flooring does 505 BRIGHT, Salt Lake City have?

Accepted Answer

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

Question 33

What are the water and sewer connections for 505 BRIGHT, Salt Lake City?

Accepted Answer

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

Question 34

What is the commute like from 505 BRIGHT, Salt Lake City?

Accepted Answer

505 BRIGHT, 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 505 BRIGHT, Salt Lake City?

Accepted Answer

The nearest restaurant is Koyote (0.2 miles away) and the nearest grocery store is Lee's Market (0.4 miles). Coffee: Blue Copper 2000 (0.5 mi). Banking: Wells Fargo (0.8 mi). Overall amenity proximity score: 94/100.

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 505 BRIGHT, 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 $315,000, expect approximately $945-$1,575/year ($79-$131/month).   Get multiple quotes — rates vary significantly by insurer.

Question 38

What are the estimated closing costs for 505 BRIGHT, Salt Lake City?

Accepted Answer

Closing costs in Utah typically range from 2-5% of the purchase price. For a home at $315,000, expect approximately $6,300-$15,750 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 39

How does the property tax compare to the list price at 505 BRIGHT, Salt Lake City?

Accepted Answer

The annual property tax of $1,670 represents an effective rate of 0.53% relative to the list price of $315,000. 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 40

What are the total estimated monthly costs for 505 BRIGHT, Salt Lake City?

Accepted Answer

Estimated total monthly housing cost: $1,997. This includes principal & interest ($1,586 at 6.46% with 20% down), property tax ($139/mo), HOA ($167/mo), and estimated insurance (~$105/mo). Actual costs will vary based on your down payment, credit score, and insurance quotes.

Question 41

Is 505 BRIGHT, Salt Lake City eligible for FHA or VA financing?

Accepted Answer

At $315,000, this property is likely within FHA loan limits for most Utah counties. VA loans have no price cap but require VA eligibility.  FHA 203(k) renovation loans may be an option for this property.  Consult a mortgage lender for personalized eligibility.

Question 42

What is the estimated cap rate for 505 BRIGHT, Salt Lake City?

Accepted Answer

The estimated cap rate (net rental yield) for this property is 2.6%, based on estimated annual rent of $12,782 and a purchase price of $315,000. 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 $1,252. 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: 4.1%. Utah's steady population growth continues to drive rental demand.

Question 44

Could 505 BRIGHT, Salt Lake City be a 1031 exchange property?

Accepted Answer

Yes, 505 BRIGHT, 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 505 BRIGHT, Salt Lake City compare to recently sold homes nearby?

Accepted Answer

Based on 10 comparable properties, the median sold price in this area is $379,900. This listing is 17% 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 56% 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 505 BRIGHT, Salt Lake City overpriced or underpriced?

Accepted Answer

Propaired's AI classifies this property as "Exceptional Deal." At 17% below comparable homes, this property appears competitively priced. Deal score: 57/100. Always confirm with a local real estate professional who can provide a comparative market analysis.

Question 49

What school district is 505 BRIGHT, Salt Lake City in?

Accepted Answer

This property is in the Salt Lake school district. Assigned elementary: Jackson. 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 505 BRIGHT, Salt Lake City?

Accepted Answer

The nearest local park is Guadalupe Park (0.0 miles away). The nearest state park is Jordan River OHV State Park (2.8 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 505 BRIGHT, Salt Lake City?

Accepted Answer

The nearest golf course is Roots Disc Golf Course, 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 52

What water activities are near 505 BRIGHT, Salt Lake City?

Accepted Answer

Water recreation near this property includes: Rockport Reservoir (27.5 mi); boat ramp at Great Salt Lake State Marina (16.1 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 505 BRIGHT, Salt Lake City move-in ready?

Accepted Answer

This property has been identified as a fixer-upper and likely requires renovation before occupying.

Question 54

What updates might 505 BRIGHT, Salt Lake City need?

Accepted Answer

At 41 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 55

Does 505 BRIGHT, 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 505 BRIGHT, Salt Lake City?

Accepted Answer

The lot is 0.02 acres.     Lot characteristics affect usability, privacy, and future improvement potential.

Question 57

What utilities are available at 505 BRIGHT, Salt Lake City?

Accepted Answer

Available utilities include: Natural Gas Connected,Electricity Connected,Sewer Connected,Water Connected. Water source: Culinary. Sewer: Sewer: Connected. 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 505 BRIGHT, 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 505 BRIGHT, Salt Lake City?

Accepted Answer

The nearest EV charging station is ChargePoint, approximately 1.2 miles from the property. A home EV charger can be installed if 240V electrical service is available. Utah offers a growing EV charging network along major corridors and in urban centers. Convenient public charging is available nearby for supplemental needs.

505 BRIGHT, Salt Lake City, UT 84116

505 N BRIGHT CT, Salt Lake City, UT 84116

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