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74111 Old Prospector Trail, Palm Desert, California 92260, Palm Desert, 92260 - 4 bed, 4 bath

74111 Old Prospector Trail, Palm Desert, California 92260 home-pic-0
ACTIVE$1,369,000
74111 Old Prospector Trail, Palm Desert, California 92260
4Beds
4Baths
2,845Sqft
13,068Lot

Price Vs. Estimate

The estimated value ($628,755.23) is $740,244.77 (54%) lower than the list price ($1,369,000). 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 = 13068, living area = 2845.
Top Cons:
Significant Valuation Discrepancy: The property's estimated value is substantially lower than the current listing price (estimation ratio -54), which could indicate overpricing or a disconnect between the unique features and standard valuation models, potentially deterring buyers or complicating financing.

Compared to the nearby listings

Price:$1.37M vs avg $825.0K (+$544,000)81%
Size:2,845 sqft vs avg 2,165.5 sqft68%
Price/sqft:$481 vs avg $37378%

More Insights

Built in 1957 (68 years old).
Condition: The property, built in 1957, is well-maintained with a newly renovated pool and spa, and features versatile casitas with kitchenettes. However, the main kitchen and several bathrooms, while clean and functional, exhibit styles (e.g., wood cabinets, dark granite, tile choices) that appear to be from renovations completed 15-30 years ago, rather than recent updates. The flooring throughout the main living areas also appears dated. While the property is in good condition structurally and functionally, the interior aesthetics are outdated and would likely require significant updates to meet current design preferences.
Year Built
1957
Close
-
List price
$1.37M
Original List price
$1.4M
Price/Sqft
$481
HOA
-
Days on market
-
Sold On
-
MLS number
219119204DA
Home ConditionFair
Features
Good View: Pool
Pool
Spa
Patio
ViewPool

About this home

Beautiful, majestic Mission-style estate with a distinctive bell tower on an over 13,000 sq ft lot. The main residence has 3 bedrooms with 3 en suite bathrooms, abundant closets, including a second master suite that has a kitchenette and private entrance. Tucked away in the picturesque backyard, is a detached 1bd/1ba Mission-style casita with a kitchentte and stacked washer/dryer. This charming mini-dwelling boasts 10-foot ceilings and offers total privacy with it's own front and back courtyards. The versatility of this property is attractive for your guests, friends or renting out, if desired. Has a track record as a successful STR. The tranquil park-like backyard boasts a newly renovated pebbletec pool & spa, citrus trees, palm trees, a rose garden and more. Multiple windows and skylights let the sunshine in throughout. This sub-tropical paradise is located around the corner from El Paseo, 'the Rodeo Drive of the Desert' and convenient to everything you need. Call and make your appointment today to tour this exceptional property! Attention investors: This property is in essence a 'triplex' comprising the main house which includes an attached casita plus a detached casita, and is a great candidate for a 1031 Exchange.

Condition Rating
Fair
The property, built in 1957, is well-maintained with a newly renovated pool and spa, and features versatile casitas with kitchenettes. However, the main kitchen and several bathrooms, while clean and functional, exhibit styles (e.g., wood cabinets, dark granite, tile choices) that appear to be from renovations completed 15-30 years ago, rather than recent updates. The flooring throughout the main living areas also appears dated. While the property is in good condition structurally and functionally, the interior aesthetics are outdated and would likely require significant updates to meet current design preferences.
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 = 13068, living area = 2845.
Exceptional Income Potential / Versatile Living: The property is marketed as a 'triplex' with a main house, an attached second master suite with a kitchenette, and a detached 1bd/1ba casita, all with private entrances and kitchenettes. It boasts a track record as a successful Short-Term Rental (STR), offering significant income-generating potential or flexible multi-generational living options.
Prime South Palm Desert Location: Strategically located 'around the corner from El Paseo, 'the Rodeo Drive of the Desert'', providing residents with convenient access to world-class shopping, fine dining, and entertainment.
Resort-Style Outdoor Living: The tranquil, park-like backyard features a newly renovated pebbletec pool & spa, citrus trees, palm trees, and a rose garden, creating a private and luxurious outdoor oasis for relaxation and entertaining.
Unique Mission-Style Architecture: The estate showcases a 'beautiful, majestic Mission-style' design with a 'distinctive bell tower,' offering strong curb appeal and a unique, charming aesthetic that stands out.
Generous Lot Size: Situated on an 'over 13,000 sq ft lot,' the property provides ample outdoor space, enhancing privacy and offering potential for further landscaping or outdoor amenities.

Cons

Significant Valuation Discrepancy: The property's estimated value is substantially lower than the current listing price (estimation ratio -54), which could indicate overpricing or a disconnect between the unique features and standard valuation models, potentially deterring buyers or complicating financing.
Age of Property & Potential for Outdated Systems: Built in 1957, the property is relatively old. While some renovations are mentioned (pool, casita kitchenettes), there's no explicit detail on comprehensive updates to major systems like electrical, plumbing, or HVAC in the main residence, which could lead to higher maintenance costs or future upgrade requirements.
Limited Modern Interior Updates in Main Residence: The description highlights the casitas and backyard renovations but provides limited information on comprehensive modern interior updates for the main 3-bedroom residence, beyond 'abundant closets' and 'multiple windows and skylights.' This could suggest that parts of the main interior may be dated and require further investment to meet contemporary luxury standards.

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