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47755 Soft Moonlight, La Quinta, California 92253, La Quinta, 92253 - 3 bed, 2 bath

47755 Soft Moonlight, La Quinta, California 92253 home-pic-0
ACTIVE$387,800
47755 Soft Moonlight, La Quinta, California 92253
3Beds
2Baths
1,337Sqft
3,049Lot

Price Vs. Estimate

The estimated value ($392,052.475) is $4,252.475 (1%) lower than the list price ($387,800). This property may be overpriced.

Key pros and cons

Top Pros:
Significant Down Payment Assistance: The City of La Quinta provides a $56,000 'silent second' mortgage, significantly reducing the initial out-of-pocket cost for qualified buyers.
Top Cons:
Strict Eligibility & Usage Restrictions: The property is age-restricted (55+), requires buyers to meet specific moderate-income qualifications, and must be a primary residence, severely limiting the buyer pool.

Compared to the nearby listings

Price:$387.8K vs avg $771.1K ($-383,302.5)2%
Size:1,337 sqft vs avg 2,321.5 sqft7%
Price/sqft:$290 vs avg $36617%

More Insights

Built in 2006 (19 years old).
Condition: Built in 2006, this property is 18 years old and falls within the 'Good' category's age range. The home is move-in ready with well-maintained systems and minimal wear and tear. The kitchen features stainless steel appliances, but the warm-tone cabinets and tile countertops are dated, though functional. Bathrooms are clean and functional but also reflect the original build era's style rather than recent updates. Flooring (laminate, tile, carpet) appears in good condition throughout. No immediate renovations are required, aligning with a 'Good' condition rating.
Year Built
2006
Close
-
List price
$388K
Original List price
$388K
Price/Sqft
$290
HOA
$304.2
Days on market
-
Sold On
-
MLS number
219138824DA
Home ConditionGood
Features
Patio
View-

About this home

Seniors 55+, are you looking for affordable housing in La Quinta to call your own? Welcome to Watercolors. This may be the home for you! So this is how it works. Total purchase price, including the silent second, is $443,800. ($387,800 + City of La Quinta kicks in the $56,000, which is referred to as a silent second)= $443,800. Your loan amount would be based on $387,800 minus your down payment, up to 20% (this is not part of the $56,000). This charming home features three bedrooms, two bathrooms, and approximately 1,337 square feet of living space. Enjoy the convenience of an attached two-car garage with cabinets and a side courtyard with a patio and artificial turf. Step inside to discover an airy open floor plan, tall ceilings, and a cozy gas fireplace in the living room. The kitchen offers stainless steel appliances, a breakfast counter, and warm-tone cabinets. Additionally, you'll find a dedicated space for your washer and dryer with the above cabinets. There is a community pool, spa, and clubhouse. Watercolors is a moderate-income development that carries a silent second with the City of La Quinta. Potential buyers must meet income qualification criteria through the city of La Quinta and purchase as a primary residence. No rentals & no cash purchases. Low HOAS that include cable & internet. Close to dining, shopping, and more. Come and experience the perfect blend of comfort and convenience at Watercolors. The 2025 combined gross income limits are: 1 person: $62,651-$87,300; 2 people: $71,601-$99,750; 3 people: $80,551-$112,250; and 4 people: $89,501-$124,700. Like, who doesn't like downpayment assistance when purchasing a home?

Nearby schools

6/10
Harry S. Truman Elementary School
Public,•K-5•1.2mi
5/10
La Quinta Middle School
Public,•6-8•1.2mi
6/10
La Quinta High School
Public,•9-12•0.8mi

Price History

Date
Event
Price
01/29/19
Sold
$273,000
10/20/06
Sold
$263,000
Condition Rating
Good
Built in 2006, this property is 18 years old and falls within the 'Good' category's age range. The home is move-in ready with well-maintained systems and minimal wear and tear. The kitchen features stainless steel appliances, but the warm-tone cabinets and tile countertops are dated, though functional. Bathrooms are clean and functional but also reflect the original build era's style rather than recent updates. Flooring (laminate, tile, carpet) appears in good condition throughout. No immediate renovations are required, aligning with a 'Good' condition rating.
Pros & Cons

Pros

Significant Down Payment Assistance: The City of La Quinta provides a $56,000 'silent second' mortgage, significantly reducing the initial out-of-pocket cost for qualified buyers.
Comprehensive Community Amenities: Residents benefit from a community pool, spa, and clubhouse, offering recreational and social opportunities within the Watercolors subdivision.
Cost-Effective HOA Inclusions: Low HOA fees cover essential services like cable and internet, adding value and reducing monthly expenses for homeowners.
Modern & Functional Living Space: The home features an airy open floor plan, tall ceilings, a cozy gas fireplace, and a kitchen with stainless steel appliances and a breakfast counter.
Practical Features & Low Maintenance: Includes an attached two-car garage with cabinets and a side courtyard with a patio and artificial turf, offering convenience and reduced upkeep.

Cons

Strict Eligibility & Usage Restrictions: The property is age-restricted (55+), requires buyers to meet specific moderate-income qualifications, and must be a primary residence, severely limiting the buyer pool.
Financing Complexity with 'Silent Second': The inclusion of a $56,000 'silent second' mortgage from the City of La Quinta adds a unique financing structure that may not be familiar to all lenders or buyers.
Prohibition on Rentals & Cash Purchases: The inability to rent out the property or purchase it with cash restricts investment opportunities and financial flexibility for potential owners.

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