298 N Farrell Drive, Palm Springs, California 92262, Palm Springs, 92262 - 3 bed, 4 bath

298 N Farrell Drive, Palm Springs, California 92262 home-pic-0

298 N Farrell Drive

Palm Springs, California 92262

ACTIVE
CONDITION: EXCELLENT
3Beds
4Baths
2,559Sq Ft
13,504Lot Size

Property Price

LIST PRICE$1,299,000
EST. MARKET VALUE
$1,363,364
4% BelowMARKET VALUE

SUMMARY

Analysis of 298 N Farrell Drive, Palm Springs, California 92262 reveals a Prime Investment Opportunity with a current list price of $1,299,000—significantly undercutting the $1,363,364 Fair Market Value by 4%. This valuation gap indicates a +$64,364 Instant Equity potential for buyers. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the Palm Springs Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.

Estimated Market Value

$1,363,364 +$64,364 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Palm Springs.

Comparable Sales Map

Comparables within 1 miles sold in recently

Address Sold Price BedsBathsSq Ft$/SqftDistance
298 N Farrell Drive
Subject
$1,299,000*
List Price
342,559$533-
A
562 N Saturmino Drive
Sold
$1,025,000432,077$4940.6 mi
B
2030 E Amado Road
Sold
$969,000322,431$3990.4 mi
C
344 N Sunset Way
Active
$1,199,000
List Price
442,511$4770.2 mi

* Subject property listed price vs sold prices of comps.

Condition Analysis

OVERALL CONDITION SCORE

Excellent
TeardownExcellent

Property is new construction or fully renovated.

This 1970s home has been extensively and professionally reimagined by an interior designer within the last year. The renovation is comprehensive, featuring brand new white oak cabinetry, marble countertops, new appliances, new windows, solid wood French doors, and custom tile showers. All interior and exterior components, including the flooring and fixtures, are new or virtually new, meeting the highest quality standards with no deferred maintenance.

PROSSTRENGTHS & OPPORTUNITIES

  • 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 = 13504, living area = 2559.

  • Turnkey Designer Aesthetic

    Professionally reimagined by an interior designer and sold fully furnished with curated vintage pieces, this home offers a seamless, move-in-ready Palm Springs lifestyle.

  • Significant Expansion Potential

    The oversized 13,504 sqft lot includes conceptual plans for an ADU or guest house, providing a rare opportunity to increase square footage and long-term property value.

CONSRISKS & DEFICIENCIES

  • Recently Sold Property

    The property was recently sold within the past year on 2025-05-22. The sold price is $750,000.00.

  • Traffic Exposure

    Situated on the corner of Farrell Drive, a major thoroughfare, the property may experience higher ambient traffic noise compared to more secluded interior lots.

  • Market Positioning

    A recent price reduction from the original list price suggests the property is navigating a shift in buyer demand or initial over-valuation for the immediate area.

About 298 N Farrell Drive

Step into this beautifully reimagined 3 bedroom, 4 bathroom home located in the heart of Palm Springs in the highly sought after neighborhood of Sunmor. Nestled on the corner of Julian and Farrell, the property's entrance and driveway are on the quieter side of Julian. Inspired by classic 1970s design, this home boasts warm organic materials, custom craftsmanship, and curated character throughout. The home was thoughtfully designed and renovated by an interior designer and the sale includes all furnishings. Upon entering, the main living area is filled with natural light and features an exquisite stone fireplace. The kitchen and living space flow seamlessly together, highlighted by a white oak banquette with a built-in dry bar and brand new cabinetry with marble countertops and new appliances. The primary suite includes a custom floating vanity, a built-in headboard with integrated nightstands, and a large walk-in closet. This fully furnished home offers vintage designer furnishings, selected to enhance the architecture while blending seamlessly with the home's 1970s inspired aesthetic. Thoughtful design is evident in the home's layout, with three well-proportioned bedrooms providing flexible space for guests, a home office, or creative studio. Quality upgrades throughout include new windows, solid wood French doors, new flooring, custom tile showers, updated fixtures, new appliances, and new hardware. Outdoors, solid wood tongue and groove patio ceilings complement custom wrought iron gates, a Bocce court, and an organic landscape with mature trees and sculptural cacti. The backyard is oriented to maximize sunlight and features a pool positioned to take in sweeping mountain views. The oversized lot has adequate space for ADU or guest house; a conceptual ADU plan is included in the photos to showcase the property's expansion potential.This home offers a timeless Palm Springs experience in one of the city's most beloved neighborhoods.

Property Details

Public Facts

Property Type
Single Family Residence
Year Built
1970
Lot Size
13,504 Sq. Ft.

Interior

Total Bedrooms
3
Total Bathrooms
4 (4 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$0 / Month

Neighborhood Insights

Palm Springs Unified Schools

Katherine Finchy Elementary School

Grades K-5 • 1.4 mi

7/10

Raymond Cree Middle School

Grades 6-8 • 1.6 mi

4/10

Palm Springs High School

Grades 9-12 • 0.5 mi

6/10

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds3.03.0
50%
Baths4.03.0
70%
Square foot2,5591,964
75%
Lot Size13,5049,583
86%
Price$1.30M$900.0K
76%
Price per sq ft$508$478
58%
Built year19701989
30%
HOA$0$0
50%
Days on market61179
6%

Pricing History

Listed for Sale

Mar 5, 2026

$1,299,000

$1,370,000

-5% Price Drop

Initial Listing

Price Change

Jan 5, 2026

$1,370,000

Initial Listing

Sold

May 22, 2025

$750,000

Public Record

Sold

May 20, 2004

$525,000

Public Record

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