
Palm Desert, California 92260
This Single Family Residence is a Strong Value Opportunity, listed at $639,900—positioned well below the $676,992 Fair Market Value by 5%. This valuation gap offers $37,092 in Instant Equity for the buyer. Featuring a Fair Condition Rating, the home offers significant potential for cosmetic modernization. With a private pool, spa, and mountain views, this property provides a resort-style lifestyle near top-rated schools like James Earl Carter Elementary. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking long-term appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 40621 Terraza Subject | $639,900* List Price | 5 | 4 | 2,718 | $249 | - |
A 40622 Cabana Court Sold | $640,000 | 4 | 3 | 2,300 | $278 | 0.1 mi |
B 40747 Palm Court Sold | $775,000 | 3 | 3 | 2,727 | $284 | 0.2 mi |
C 40761 Hovley Court Sold | $700,000 | 3 | 2 | 2,416 | $290 | 0.4 mi |
D 40650 Cabana Court Active | $725,000 List Price | 3 | 3 | 2,430 | $298 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1999 (25 years old), the property maintains its original late-90s aesthetic. The kitchen and bathrooms feature dated honey oak cabinetry and older appliances that, while functional, are past the 20-year mark and require modernization. The mix of flooring and original fixtures places this in the fair category as it needs cosmetic updates to meet current market standards.
Welcome to 40621 Terraza, an exceptional desert retreat offering the perfect blend of privacy and resort-style living in the heart of Palm Desert. This expansive residence features approximately 2,718 square feet of living space with 5 bedrooms and 3.5 bathrooms, thoughtfully designed for everyday comfort and entertaining. Upon arrival, you are greeted by an inviting courtyard entrance that sets the tone for the peaceful atmosphere found throughout the home. Inside, generous living spaces are enhanced by soaring ceilings, abundant natural light, and a functional open-concept floor plan. The backyard is truly an entertainer's dream, offering a private resort-style setting complete with a sparkling pool, relaxing jacuzzi, and impressive in-ground BBQ area, creating the perfect atmosphere for sunny pool days and evening gatherings. Surrounded by breathtaking mountain views, this outdoor oasis feels like your own private vacation destination. Adding to the home's versatility is a private primary suite featuring its own separate entrance through the entry courtyard, ideal for multigenerational living or a private retreat. The property also offers a spacious three-car garage and extended driveway, providing ample room for multiple vehicles, guests, or recreational toys. Situated in one of Palm Desert's most desirable locations, residents enjoy convenient access to the renowned El Paseo Shopping District, often referred to as the "Rodeo Drive of the Desert," featuring luxury shopping, fine dining, art galleries, and vibrant nightlife. Nearby attractions include The Living Desert Zoo and Gardens, premier golf courses, trails, and Palm Desert Civic Center Park. Palm Desert and the greater Coachella Valley continue to experience significant growth and revitalization. One of the most exciting developments nearby is Cotino, the first-ever Storyliving by Disney community in neighboring Rancho Mirage. This highly anticipated master-planned community will feature luxury residences centered around a crystal lagoon, along with new dining, shopping, entertainment, and recreational experiences expected to further elevate the desirability of the surrounding desert communities. Whether you are searching for a primary residence, vacation home, or investment opportunity, 40621 Terraza presents a rare opportunity to own a slice of desert paradise near one of Southern California's most exciting emerging luxury destinations.
No exterior & parking available.
Grades K-5 • 0.8 mi
Grades 9-12 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 3.0 |
| Baths | 4.0 | 3.0 |
| Square foot | 2,718 | 2,105.901 |
| Lot Size | 6,970 | 7,713.859 |
| Price | $639.9K | $640.1K |
| Price per sq ft | $235 | $315 |
| Built year | 1999 | 1996 |
| HOA | $0 | $398 |
| Days on market | 71 | 78 |
Aug 20, 2026
$639,900
$699,000
-8% Price Drop
Initial Listing
Jun 30, 2026
$699,000
Initial Listing
Dec 19, 2011
$315,000
Public Record
Sep 3, 2004
$549,000
Public Record
Aug 26, 2002
$315,000
Public Record
Aug 9, 2000
$295,000
Public Record
Jul 27, 1999
$285,500
Public Record