69774 Papaya Lane, Cathedral City, California 92234, Cathedral City, 92234 - 3 bed, 2 bath
ACTIVE$480,000$1,314/sqft
Est. Value: $479,405
%
FairlyEstimate
69774 Papaya Lane, Cathedral City, California 92234
3Beds
2Baths
1,314Sqft
7,405Lot
Price Vs. Estimate
The estimated value ($479,405.205) is $594.795 (0%) lower than the list price ($480,000). This property may be overpriced.
Key pros and cons
Top Pros:
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 = 7405, living area = 1314.
Top Cons:
Age of Construction: Built in 1961, the property may require significant updates to its systems (e.g., HVAC, plumbing, electrical) and finishes to meet modern standards and preferences.
Compared to the nearby listings
Price:$480.0K vs avg $545.0K ($-65,000)31%
Size:1,314 sqft vs avg 1,789 sqft13%
Price/sqft:$365 vs avg $30880%
More Insights
Built in 1961 (65 years old).
Condition: Built in 1961, this property shows signs of regular maintenance but features significantly outdated elements, particularly in the kitchen and bathrooms. The kitchen has white appliances, laminate countertops, and dated tile backsplash and cabinets. Bathrooms feature older vanities, Hollywood-style lighting, and dated tile work. While functional, these areas require substantial updates to meet current aesthetic and quality standards, aligning with the 'Fair' condition criteria for properties built over 20 years ago with older renovations or no major modern updates.
Year Built
1961
Close
-
List price
$480K
Original List price
$480K
Price/Sqft
$365
HOA
-
Days on market
-
Sold On
-
MLS number
219140534DA
Home ConditionFair
Features
Good View: Mountain(s)
Pool
Spa
Patio
ViewMountain(s)
About this home
This charming corner-lot home offers beautiful mountain views and is located in a peaceful neighborhood with no HOA. Landscaped front and back yards create inviting outdoor spaces. Enjoy the Rancho Mirage lifestyle with a Cathedral City zip code. This 3-bedroom property has a bonus room and a fully insulated garage that was originally used as an Art Studio. Perfect for first-time buyers, those seeking a tranquil retreat, or investors looking for their next project.
C
Charles Andrews
Listing Agent
Condition Rating
Fair
Built in 1961, this property shows signs of regular maintenance but features significantly outdated elements, particularly in the kitchen and bathrooms. The kitchen has white appliances, laminate countertops, and dated tile backsplash and cabinets. Bathrooms feature older vanities, Hollywood-style lighting, and dated tile work. While functional, these areas require substantial updates to meet current aesthetic and quality standards, aligning with the 'Fair' condition criteria for properties built over 20 years ago with older renovations or no major modern updates.
Pros & Cons
Pros
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 = 7405, living area = 1314.
No HOA Fees: The property benefits from no Homeowners Association fees, offering significant cost savings and greater freedom for property modifications.
Mountain Views: Features beautiful mountain views, enhancing the property's aesthetic appeal and desirability.
Versatile Bonus Space: Includes a bonus room and a fully insulated garage (formerly an art studio), providing flexible space for various uses like an office, studio, or additional living area.
Corner Lot & Landscaped Yards: Positioned on a charming corner lot with landscaped front and back yards, contributing to enhanced curb appeal and inviting outdoor living.
Broad Buyer Appeal: Marketed as ideal for first-time buyers, those seeking a tranquil retreat, or investors, indicating a wide range of potential purchasers.
Cons
Age of Construction: Built in 1961, the property may require significant updates to its systems (e.g., HVAC, plumbing, electrical) and finishes to meet modern standards and preferences.
Location Perception: While offering a 'Rancho Mirage lifestyle,' the Cathedral City zip code might be perceived as less desirable by buyers specifically seeking a true Rancho Mirage address, potentially impacting value perception.
Potential for Renovation Costs: The property's age and description ('investors looking for their next project') suggest that substantial renovation or upgrade costs may be necessary, which could deter buyers seeking a move-in ready home.