165 Lake Shore Drive, Rancho Mirage, California 92270, Rancho Mirage, 92270 - 3 bed, 3 bath
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Rancho Mirage, California 92270
This Waterfront Condominium represents a Strong Value Opportunity, listed at $529,000—positioned well below the $521,545 Fair Market Value by -1.4%. While the price is stable, the property offers significant lifestyle appeal with panoramic lake and mountain views, a private boat dock, and access to 11 pools and racquet facilities. With a Condition Rating of 4, the home is move-in ready but offers modernization potential. Located near top-rated schools like James Earl Carter Elementary, this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking resort-style living.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 165 Lake Shore Drive Subject | $529,000* List Price | 3 | 3 | 1,813 | $288 | - |
A 78 Lake Shore Sold | $615,000 | 3 | 2 | 1,947 | $316 | 0.3 mi |
B 141 Lake Shore Drive Sold | $574,000 | 2 | 3 | 1,615 | $355 | 0.1 mi |
C 72460 Rodeo Way Sold | $390,000 | 2 | 2 | 1,851 | $211 | 0.4 mi |
D 185 Kavenish Drive Sold | $570,000 | 3 | 3 | 1,724 | $331 | 0.8 mi |
E 72419 Rodeo Way Sold | $490,000 | 2 | 2 | 1,851 | $265 | 0.4 mi |
F 230 N Kavenish Drive Sold | $680,000 | 3 | 3 | 2,372 | $287 | 1.0 mi |
G 207 Kavenish Drive Sold | $595,000 | 3 | 3 | 2,136 | $279 | 0.8 mi |
H 139 Lake Shore Drive Active Under Contract | $499,000 List Price | 3 | 3 | 1,947 | $256 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1988 (36 years old), the property is well-maintained but dated. The kitchen and bathrooms feature older tile countertops, oak-style cabinetry, and 1990s-era fixtures. While functional and move-in ready, the aesthetic and systems are over 20 years old, requiring modernization to meet current market standards.
The property features a private boat dock and panoramic lake and mountain views, providing a premium lifestyle within a guard-gated community boasting 11 pools and extensive racquet facilities.
This highly sought-after floor plan offers the ease of no interior steps, cathedral ceilings, and three ensuite bedrooms, ensuring maximum privacy and accessibility for all residents.
Originally listed at $688,000, the current price of $529,000 represents a substantial reduction, offering exceptional value for an updated waterfront residence in Rancho Mirage.
The monthly association fee of $1,031 is relatively high, which may impact buyer affordability and the property's appeal to budget-conscious investors.
With 270 days on the market and multiple price adjustments, the property may suffer from a perceived market stigma that requires a strategic approach to overcome.
Reduced to Sell! Nestled within the heart of Lake Mirage, this beautifully updated 3-bedroom, 3-bath residence combines comfort, elegance, and resort-style living. Step inside to a light-filled, open floor plan featuring tile and wood-look flooring throughout, classic wood shutters, and soaring cathedral ceilings. A double-sided fireplace warms both the living and dining areas, creating an inviting atmosphere for relaxing or entertaining. Expansive windows frame panoramic views of the lake and surrounding mountains, while the spacious patio invites you to enjoy tranquil mornings or sunset gatherings by the water. The primary suite offers peaceful lake views, a generous walk-in closet, and a luxurious ensuite bath complete with jetted tub and separate shower. Each bedroom features direct access to its own bathroom, ensuring privacy and convenience for all. This highly desired floor plan offers the ease of single-level living--no interior steps--and includes an assigned dock, perfect for a small electric boat or kayak. Located within the prestigious Lake Mirage Racquet Club, residents enjoy world-class amenities including 25 acres of open lake for sailing and rowing, scenic jogging and cycling paths, 10 tennis courts, 2 pickleball courts, 11 pools and spas, a fitness center, and a clubhouse ideal for private gatherings. All set within a guard-gated community just minutes from premier shopping, fine dining, and top-rated healthcare in the heart of Rancho Mirage.
No exterior & parking available.
Grades K-5 • 1.5 mi
Grades 9-12 • 2.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 1,813 | 1,830.5 |
| Lot Size | 6,098 | 3,049 |
| Price | $529.0K | $560.4K |
| Price per sq ft | $292 | $322 |
| Built year | 1988 | 1977 |
| HOA | $1031.0 | $860 |
| Days on market | 284 | 73 |
Jun 24, 2026
$529,000
$579,000
-9% Price Drop
Initial Listing
May 29, 2026
$579,000
$609,000
-5% Price Drop
Initial Listing
May 8, 2026
$609,000
$625,000
-3% Price Drop
Initial Listing
Apr 18, 2026
$625,000
$649,000
-4% Price Drop
Initial Listing
Mar 20, 2026
$649,000
$675,000
-4% Price Drop
Initial Listing
Feb 4, 2026
$675,000
$688,000
-2% Price Drop
Initial Listing
Oct 11, 2025
$688,000
Initial Listing