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2940 N Cypress Road, Palm Springs, California 92262, Palm Springs, 92262 - 3 bed, 2 bath

2940 N Cypress Road, Palm Springs, California 92262 home-pic-0
ACTIVE$530,000$1,320/sqft
Est. Value: $569,107
7%
BelowEstimate
2940 N Cypress Road, Palm Springs, California 92262
3Beds
2Baths
1,320Sqft
10,019Lot

Price Vs. Estimate

The estimated value ($569,107.22) is $39,107.22 (7%) higher than the list price ($530,000). This property may be underpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10019, living area = 1320.
Top Cons:
Requires Finishing Touches: The property needs 'a bit of TLC and finishing touches' to be fully completed, which may require additional time and investment.

Compared to the nearby listings

Price:$530.0K vs avg $900.0K ($-370,000)8%
Size:1,320 sqft vs avg 2,014 sqft11%
Price/sqft:$402 vs avg $47930%

More Insights

Built in 1979 (47 years old).
Condition: Despite being built in 1979, this property has undergone significant and recent updates. The kitchen is remodeled with modern granite countertops and cabinets, and the bathrooms are updated with contemporary fixtures and tiling. Key systems like the roof (approx. 3 years old) and HVAC are newer, indicating good maintenance and functionality. While the description mentions 'a bit of TLC and finishing touches,' the major components and aesthetic updates place it firmly in the 'Good' category, making it move-in ready with minimal immediate renovation required.
Year Built
1979
Close
-
List price
$530K
Original List price
$530K
Price/Sqft
$402
HOA
-
Days on market
-
Sold On
-
MLS number
219141093DA
Home ConditionGood
Features
Good View: Mountain(s)
Pool
Spa
Patio
ViewMountain(s)

About this home

Perfect investor opportunity! Well located just minutes from downtown Palm Springs, this inviting home offers 3 bedrooms and 2 bathrooms, plus a converted fourth bedroom currently used as additional living space, providing flexible living options. The remodeled kitchen features granite countertops, a large center island with waterfall granite, and opens nicely for everyday living and entertaining. Two updated bathrooms add to the home's appeal, while a bit of TLC and finishing touches will make it feel nearly brand new. Additional highlights include a pool and spa with a working heater, leased solar panels, a roof approximately three years old, and a newer Lennox HVAC system. Low-maintenance desert landscaping in both the front and backyard, a newer storage shed, and close proximity to downtown shopping, dining, and entertainment complete this property. This home presents a great investor opportunity with key upgrades already completed and strong potential in a desirable Palm Springs location. Owner occupied. Please do not disturb.

C
Corine Peralta
Listing Agent

Nearby schools

6/10
Vista Del Monte Elementary School
Public,•K-5•0.9mi
7/10
Katherine Finchy Elementary School
Public,•K-5•1.6mi
4/10
Raymond Cree Middle School
Public,•6-8•1.1mi
6/10
Palm Springs High School
Public,•9-12•2.6mi
4/10
Desert Learning Academy
Public,•K-12•2.8mi
6/10
Cathedral City High School
Public,•9-12•5.6mi

Price History

Date
Event
Price
08/05/09
Sold
$143,000
07/22/04
Sold
$290,000
Condition Rating
Good
Despite being built in 1979, this property has undergone significant and recent updates. The kitchen is remodeled with modern granite countertops and cabinets, and the bathrooms are updated with contemporary fixtures and tiling. Key systems like the roof (approx. 3 years old) and HVAC are newer, indicating good maintenance and functionality. While the description mentions 'a bit of TLC and finishing touches,' the major components and aesthetic updates place it firmly in the 'Good' category, making it move-in ready with minimal immediate renovation required.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10019, living area = 1320.
Prime Location: Well located just minutes from downtown Palm Springs, offering convenient access to shopping, dining, and entertainment.
Strong Investment Potential: Explicitly highlighted as a 'perfect investor opportunity' with key upgrades already completed, indicating strong potential for return.
Significant Interior Upgrades: Features a remodeled kitchen with granite countertops and a large center island, along with two updated bathrooms, enhancing modern appeal.
Major System Updates: Includes a roof approximately three years old and a newer Lennox HVAC system, reducing immediate capital expenditure for major components.
Desirable Outdoor Amenities: Equipped with a pool and spa with a working heater, a highly sought-after feature in the Palm Springs market.

Cons

Requires Finishing Touches: The property needs 'a bit of TLC and finishing touches' to be fully completed, which may require additional time and investment.
Leased Solar Panels: The solar panels are leased, which implies an ongoing financial commitment or a lease transfer process for the new owner.
Owner Occupied Status: Being owner-occupied, showings may be restricted, and the closing process could be more complex, especially for an investor seeking quick possession.
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