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720 Desert Way, Palm Springs, California 92264, Palm Springs, 92264 - 2 bed, 2 bath

720 Desert Way, Palm Springs, California 92264 home-pic-0
ACTIVE$750,000
720 Desert Way, Palm Springs, California 92264
2Beds
2Baths
1,140Sqft
8,276Lot

Price Vs. Estimate

The estimated value ($391,968.145) is $358,031.855 (47%) lower than the list price ($750,000). 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 = 8276, living area = 1140.
Top Cons:
Overpricing Relative to Market: The listing price of $750,000 appears significantly high when compared to the provided estimation value and several recently sold 3-bedroom properties in the same subdivision that offer more square footage for similar or lower prices.

Compared to the nearby listings

Price:$750.0K vs avg $1.28M ($-528,500)15%
Size:1,140 sqft vs avg 2,172.5 sqft4%
Price/sqft:$658 vs avg $59764%

More Insights

Built in 1957 (68 years old).
Condition: Despite being built in 1957, this property has undergone extensive and recent renovations, particularly in the kitchen and bathrooms. The kitchen features modern flat-panel cabinetry, stainless steel appliances, solid surface countertops, and stylish tile backsplash. The bathrooms are also fully updated with contemporary vanities, fixtures, and new tiling. The overall condition, including flooring and paint, appears virtually new and move-in ready, aligning with the 'extensively renovated within 5 years' criteria for an excellent rating.
Year Built
1957
Close
-
List price
$750K
Original List price
$750K
Price/Sqft
$658
HOA
-
Days on market
-
Sold On
-
MLS number
219128059PS
Home ConditionExcellent
Features
Good View: Mountain(s)
Pool
Patio
ViewMountain(s)

About this home

Adorable Mid Century Modern cottage, located on a quiet cul-de-sac in Demuth Park. This home features, remodeled kitchen and baths, located on a large private lot, with a recently resurfaced pool. This 2 Bedroom, 2 Bathroom home has been recently remodeled, features a large living room, large dining room and a spacious kitchen. The primary bedroom features an en-suite bath, with lovely westerly views. The secondary bedroom open to the spacious rear yard, featuring lush landscaping for privacy, the covered patio provides ample room for entertaining, the spacious side yard provides room for additional storage or BBQ while providing lovely mountain views. Demuth Park is within walking distance, which provides, lush parks along with Pickle Ball courts. Demuth Park community has less than the 20% maximum for vacation rentals, which means it qualifies for vacation rentals. This home is the perfect get away destination, vacation rental or permanent residence. Don't miss this Cutie Pie!!

Nearby schools

4/10
Agua Caliente Elementary School
Public,•K-5•1.4mi
4/10
Cahuilla Elementary School
Public,•K-5•1.8mi
4/10
Raymond Cree Middle School
Public,•6-8•2.8mi
6/10
Palm Springs High School
Public,•9-12•0.8mi
4/10
Desert Learning Academy
Public,•K-12•0.8mi
6/10
Cathedral City High School
Public,•9-12•3.2mi
Condition Rating
Excellent
Despite being built in 1957, this property has undergone extensive and recent renovations, particularly in the kitchen and bathrooms. The kitchen features modern flat-panel cabinetry, stainless steel appliances, solid surface countertops, and stylish tile backsplash. The bathrooms are also fully updated with contemporary vanities, fixtures, and new tiling. The overall condition, including flooring and paint, appears virtually new and move-in ready, aligning with the 'extensively renovated within 5 years' criteria for an excellent rating.
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 = 8276, living area = 1140.
Vacation Rental Eligibility: The property is located in a community that qualifies for vacation rentals (less than 20% maximum), presenting a strong income-generating opportunity for investors.
Recent Remodels & Updates: Features a recently remodeled kitchen and baths, along with a recently resurfaced pool, indicating modern aesthetics and reduced immediate maintenance for the buyer.
Mid-Century Modern Appeal: Described as an 'Adorable Mid Century Modern cottage,' it taps into a highly sought-after architectural style in Palm Springs.
Spacious & Private Outdoor Living: Boasts a large private lot with lush landscaping, a covered patio for entertaining, a spacious side yard for additional use, and lovely mountain views.
Desirable Location & Amenities: Situated on a quiet cul-de-sac in Demuth Park, within walking distance to parks and pickleball courts, offering convenience and a peaceful neighborhood setting.

Cons

Overpricing Relative to Market: The listing price of $750,000 appears significantly high when compared to the provided estimation value and several recently sold 3-bedroom properties in the same subdivision that offer more square footage for similar or lower prices.
Limited Bedroom Count & Square Footage: With 2 bedrooms and 1140 sqft, the property offers less living space and fewer bedrooms than many comparable homes in the Demuth Park area, potentially narrowing its buyer pool.
Older Infrastructure (Potential): Built in 1957, despite recent remodels, the underlying infrastructure (e.g., plumbing, electrical, roof) may be original or older, potentially leading to unforeseen maintenance or upgrade costs not explicitly mentioned as updated.

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