360 W Bon Air Dr, Palm Springs, California 92262, Palm Springs, 92262 - 3 bed, 2 bath
ACTIVE$580,000
360 W Bon Air Dr, Palm Springs, California 92262
3Beds
2Baths
1,170Sqft
7,841Lot
Price Vs. Estimate
The estimated value ($559,628.575) is $20,371.425 (3%) lower than the list price ($580,000). This property may be overpriced.
Key pros and cons
Top Pros:
Short-Term Rental Potential: The property currently qualifies for a short-term rental license, presenting a significant income opportunity for investors.
Top Cons:
Price Reduction: The property has undergone a price reduction, which may indicate challenges in attracting buyers at the original price point.
Compared to the nearby listings
Price:$580.0K vs avg $925.0K ($-345,000)12%
Size:1,170 sqft vs avg 2,096 sqft3%
Price/sqft:$496 vs avg $49152%
More Insights
Built in 1962 (63 years old).
Condition: The property was built in 1962 but appears to have been updated. The kitchen features modern appliances and cabinetry. The bathrooms are not clearly visible, but the overall interior design suggests a recent renovation. The new water heater installed in January 2025 is a plus. While not brand new, the property seems to be in good, move-in-ready condition.
Year Built
1962
Close
-
List price
$580K
Original List price
$615K
Price/Sqft
$496
HOA
-
Days on market
-
Sold On
-
MLS number
PTP2504045
Home ConditionGood
Features
Good View: Mountain(s)
Patio
ViewMountain(s)
About this home
3 bed, 2 bath updated home with a spacious front yard and backyard that includes a patio area, plants on a sprinkler system, and no land lease! New water heater installed in January 2025. Currently under the 20% cap rate with the city to qualify for short-term rental license.
Nearby schools
7/10
Katherine Finchy Elementary School
Public,•K-5•2.0mi
4/10
Cahuilla Elementary School
Public,•K-5•3.9mi
4/10
Raymond Cree Middle School
Public,•6-8•1.6mi
6/10
Palm Springs High School
Public,•9-12•3.6mi
4/10
Desert Learning Academy
Public,•K-12•3.8mi
Condition Rating
Good
The property was built in 1962 but appears to have been updated. The kitchen features modern appliances and cabinetry. The bathrooms are not clearly visible, but the overall interior design suggests a recent renovation. The new water heater installed in January 2025 is a plus. While not brand new, the property seems to be in good, move-in-ready condition.
Pros & Cons
Pros
Short-Term Rental Potential: The property currently qualifies for a short-term rental license, presenting a significant income opportunity for investors.
Updated Home: The property has been updated, suggesting modern amenities and reduced immediate maintenance needs.
No Land Lease: The absence of a land lease provides long-term ownership security and eliminates associated monthly costs.
New Water Heater: A new water heater installed in January 2025 ensures reliability and reduces the likelihood of near-term replacement costs.
Outdoor Space: The property features a spacious front and backyard with a patio area and sprinkler system, enhancing outdoor living and landscaping maintenance.
Cons
Price Reduction: The property has undergone a price reduction, which may indicate challenges in attracting buyers at the original price point.
Smaller Square Footage: At 1170 sqft, the property may be considered small for some buyers, potentially limiting its appeal to larger families or those desiring more space.
Year Built: Built in 1962, the property may have older infrastructure or require updates to meet modern standards and preferences.