4040 Peter Rabbit, 29 Palms, California 92277, 29 Palms, 92277 - 2 bed, 1 bath
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4040 Peter Rabbit
29 Palms, California 92277
ACTIVE
CONDITION: TEAR DOWN
2Beds
1Baths
984Sq Ft
217,800Lot Size
Property Price
LIST PRICE$127,500
EST. MARKET VALUE
$126,004
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $127,500—positioned well below the $126,005 Fair Market Value by a negligible margin. While the home carries a Condition Rating of 6 due to significant neglect, the 5-acre lot and private well provide a solid foundation for development. The hilltop location offers panoramic 360-degree views, creating a unique canvas for a desert retreat. This asset is best suited for Buy-and-Hold Investors or Contractors capable of executing a comprehensive renovation to unlock the land's inherent value.
Estimated Market Value
$126,004
Based on Realkey algorithm analyzing recent comparable sales in 29 Palms.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Tear down
TeardownExcellent
Property is land value only, full reconstruction required.
Built in 1957 (67 years old) with no evidence of renovation, meeting the >50y criteria. The interior shows significant neglect including missing flooring, exposed wiring, and dated surfaces, suggesting the value lies primarily in the 5-acre lot and private well.
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 = 217800, living area = 984.
- Expansive Lot & Privacy
Situated on 5 scenic acres with full chain-link fencing and a hilltop position, this property offers unparalleled privacy and space in the desirable Wonder Valley area.
- Panoramic Desert Views
The elevated location provides breathtaking 360-degree views of the surrounding desert landscape and mountains, a significant draw for retreat seekers.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 1.
- Significant Repair Needs
The home requires substantial repairs and updates, which will necessitate additional capital investment beyond the initial purchase price.
- Dated Construction
Built in 1957 with a modest 984-square-foot layout, the structure likely features aged systems and finishes that may not meet modern efficiency standards.
About 4040 Peter Rabbit
Come see this 2-bedroom home in Wonder Valley situated on 5 scenic acres, fully enclosed with chain-link fencing and equipped with a private well. Perched atop a hill, this property offers breathtaking 360-degree views of the surrounding desert landscape and mountains. Features include a 2-car garage and endless potential. The home does need repairs, making it the perfect blank canvas to create your dream retreat and enjoy true peace and privacy.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1957
- Lot Size
- 217,800 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 984 | 1,213.309 |
| Lot Size | 217,800 | 13,719.864 |
| Price | $127.5K | $258.8K |
| Price per sq ft | $130 | $205 |
| Built year | 1957 | 1975 |
| HOA | $0 | $250 |
| Days on market | 44 | 104 |
Pricing History
Listed for Sale
Sep 10, 2026
$127,500
Initial Listing
Sold
Mar 20, 1998
$18,000
Public Record