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

298 N Farrell Drive
Palm Springs, California 92262
Property Price
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
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 298 N Farrell Drive Subject | $1,299,000* List Price | 3 | 4 | 2,559 | $533 | - |
A 562 N Saturmino Drive Sold | $1,025,000 | 4 | 3 | 2,077 | $494 | 0.6 mi |
B 2030 E Amado Road Sold | $969,000 | 3 | 2 | 2,431 | $399 | 0.4 mi |
C 344 N Sunset Way Active | $1,199,000 List Price | 4 | 4 | 2,511 | $477 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
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
Raymond Cree Middle School
Grades 6-8 • 1.6 mi
Palm Springs High School
Grades 9-12 • 0.5 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 4.0 | 3.0 | 70% |
| Square foot | 2,559 | 1,964 | 75% |
| Lot Size | 13,504 | 9,583 | 86% |
| Price | $1.30M | $900.0K | 76% |
| Price per sq ft | $508 | $478 | 58% |
| Built year | 1970 | 1989 | 30% |
| HOA | $0 | $0 | 50% |
| Days on market | 61 | 179 | 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






















































