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412 S Palm, Ontario, California 91762, Ontario, 91762 - 2 bed, 1 bath

412 S Palm, Ontario, California 91762 home-pic-0
ACTIVE$540,000
412 S Palm, Ontario, California 91762
2Beds
1Bath
720Sqft
3,796Lot

Price Vs. Estimate

The estimated value ($457,429.75) is $82,570.25 (15%) lower than the list price ($540,000). This property may be overpriced.

Key pros and cons

Top Pros:
Income-Generating Potential: The property features a separate rear living space with its own bedroom, bathroom, kitchen, and private entry, offering significant flexibility for rental income or multi-generational living.
Top Cons:
Advanced Age of Property: Built in 1924, the property is nearly a century old, suggesting potential for outdated systems (plumbing, electrical) and requiring significant maintenance or renovation costs.

Compared to the nearby listings

Price:$540.0K vs avg $751.0K ($-211,000)4%
Size:720 sqft vs avg 1,830.5 sqft1%
Price/sqft:$750 vs avg $41299%

More Insights

Built in 1924 (101 years old).
Condition: Built in 1924, this property is very old. While it appears to have undergone some renovations, these updates (especially in the kitchens and bathrooms) are clearly dated, likely 15-30+ years old, featuring basic cabinets, older appliances, and dated tile work. The reliance on window AC units indicates an outdated or absent central cooling system. The property is functional and livable but requires significant cosmetic and system updates to meet current standards and appeal.
Year Built
1924
Close
-
List price
$540K
Original List price
$550K
Price/Sqft
$750
HOA
-
Days on market
-
Sold On
-
MLS number
SW25246541
Home ConditionFair
Features
View-

About this home

Located within minutes of major shopping centers and positioned between the 60 and 10 freeways, this property offers convenient access for daily travel and nearby amenities. It is also near the newly opening Dodger affiliate baseball facility. The main residence features 2 bedrooms and 1 bathroom. In addition, there is a separate rear living space that includes 1 bedroom, 1 bathroom, a kitchen, and a family area. Each living area has its own private entry, providing options for multi-generational living or rental use. This layout is suitable for those seeking to live in one unit and rent the other or for those considering their first income-producing property. The configuration supports flexibility for personal or investment purposes.

Condition Rating
Fair
Built in 1924, this property is very old. While it appears to have undergone some renovations, these updates (especially in the kitchens and bathrooms) are clearly dated, likely 15-30+ years old, featuring basic cabinets, older appliances, and dated tile work. The reliance on window AC units indicates an outdated or absent central cooling system. The property is functional and livable but requires significant cosmetic and system updates to meet current standards and appeal.
Pros & Cons

Pros

Income-Generating Potential: The property features a separate rear living space with its own bedroom, bathroom, kitchen, and private entry, offering significant flexibility for rental income or multi-generational living.
Strategic Location: Positioned between the 60 and 10 freeways and minutes from major shopping centers, providing convenient access for daily travel and amenities.
Proximity to New Development: Located near the newly opening Dodger affiliate baseball facility, which could enhance future property value and local appeal.
Flexible Living Arrangements: The dual-unit configuration supports diverse needs, from multi-generational families to owner-occupants seeking to offset mortgage costs with rental income.
Recent Price Adjustment: A recent price reduction from $550,000 to $540,000 indicates a motivated seller and potentially a more attractive entry point for buyers.

Cons

Advanced Age of Property: Built in 1924, the property is nearly a century old, suggesting potential for outdated systems (plumbing, electrical) and requiring significant maintenance or renovation costs.
Compact Main Residence Size: The main residence is only 720 sqft for 2 bedrooms and 1 bathroom, which is quite small and may not appeal to buyers seeking more spacious living.
Limited Lot Size: A lot size of 3796 sqft is relatively small, potentially restricting outdoor living space, gardening opportunities, or future expansion.

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