71861 Eleanora Lane, Rancho Mirage, California 92270, Rancho Mirage, 92270 - 2 bed, 2 bath
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Rancho Mirage, California 92270
This Desert Village Condominium presents a High-Potential Investment Opportunity with a List Price of $280,000—positioned well below the $335,639 Fair Market Value by 16%. This valuation gap offers $55,639 in Instant Equity for buyers ready to modernize the 1977 interior. Despite a Condition Rating of 4, the functional 2-bedroom layout and prime Rancho Mirage location near world-class golf courses ensure strong rental demand. This value-add asset is a strategic acquisition for Buy-and-Hold Investors or Fix-and-Flip Investors seeking forced appreciation in a high-demand desert market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 71861 Eleanora Lane Subject | $280,000* List Price | 2 | 2 | 938 | $358 | - |
A 71990 Eleanora Lane Sold | $272,650 | 2 | 2 | 996 | $274 | 0.1 mi |
B 42336 Dunes View Road 12 Sold | $290,000 | 2 | 2 | 915 | $317 | 0.4 mi |
C 40 Sunrise Drive Sold | $324,000 | 1 | 2 | 854 | $379 | 0.6 mi |
D 44 Malaga Drive Active | $289,000 List Price | 1 | 2 | 854 | $338 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1977, this property is clean and functional but significantly outdated, featuring original or older cabinetry, fluorescent light boxes in the bathrooms, and aged tile flooring. The listing explicitly identifies it as an 'investor opportunity' and 'fix-and-hold,' indicating that while it is livable, it requires modernization of the kitchen, bathrooms, and fixtures to meet current market standards.
Marketed as a prime investor opportunity, this property offers significant upside potential through value-add improvements, seasonal leasing, or long-term rental income in a high-demand market.
Situated in a desirable community, the property provides convenient access to world-class golf courses, premium dining, and shopping, with easy proximity to both Palm Desert and Palm Springs.
The 2-bedroom, 2-bathroom configuration maximizes the 938 square feet of living space and includes private outdoor areas, making it an attractive option for both tenants and vacationers.
The monthly association fee of approximately $650 is relatively high for a unit of this size, which may impact the net rental yield for investors and overall monthly affordability.
Built in 1977 and positioned as a 'fix-and-hold' opportunity, the property likely requires capital investment for updates and repairs to meet modern aesthetic standards and maximize market value.
Investor Opportunity in Rancho Mirage - Desert Village Community!Welcome to 71861 Eleanora Ln, a prime investment property located in the desirable Desert Village community of Rancho Mirage. This 2-bedroom, 2-bathroom condo offers 938 sq ft of living space with strong potential for rental income, seasonal leasing, or value-add improvements.Featuring a functional floor plan, spacious living area, and private outdoor space, this property is ideal for investors or buyers looking to customize and maximize returns. Desert Village offers a convenient location near shopping, dining, golf courses, and easy access to Palm Desert and Palm Springs.Perfect as a long-term rental, vacation property, or fix-and-hold opportunity. Low-maintenance living in a well-established community makes this an attractive addition to any real estate portfolio.Don't miss this Rancho Mirage investment opportunity with great upside potential!
No exterior & parking available.
Grades K-5 • 0.7 mi
Grades 6-8 • 4.2 mi
Grades 9-12 • 5.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 45% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 938 | 1,770 | 5% |
| Lot Size | 1,307 | 2,614 | 31% |
| Price | $280.0K | $570.0K | 4% |
| Price per sq ft | $299 | $324 | 34% |
| Built year | 1977 | 1979 | 40% |
| HOA | $650.32 | $830 | 18% |
| Days on market | 36 | 153 | 3% |
Mar 18, 2026
$280,000
Initial Listing
Aug 2, 2002
$120,000
Public Record
Apr 5, 1999
$61,818
Public Record
Mar 22, 1996
$61,000
Public Record