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2162 Shannon Way, Palm Springs, California 92262, Palm Springs, 92262 - 3 bed, 2 bath

2162 Shannon Way, Palm Springs, California 92262 home-pic-0
ACTIVE$690,000
2162 Shannon Way, Palm Springs, California 92262
3Beds
2Baths
1,438Sqft
6,970Lot

Price Vs. Estimate

The estimated value ($434,212.465) is $255,787.535 (37%) lower than the list price ($690,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Income Potential: The property is highlighted as a 'Guests Favorite on Booking Sites for Palm Springs STR' with 'Good income potential' in a neighborhood not yet at rental capacity, making it attractive for investors.
Top Cons:
Significant Overpricing: The listing price of $690,000 is substantially higher than the estimated property value of $434,212.465, indicating a potential overvaluation of 37% based on current market analytics.

Compared to the nearby listings

Price:$690.0K vs avg $925.0K ($-235,000)20%
Size:1,438 sqft vs avg 2,096 sqft20%
Price/sqft:$480 vs avg $49048%

More Insights

Built in 1999 (26 years old).
Condition: The property, built in 1999, is 25 years old. While well-maintained and featuring a desirable outdoor pool area, the interior shows signs of being dated. The kitchen has older-style white cabinets, what appears to be laminate or older solid surface countertops, and an electric coil-top range, suggesting it has not been extensively renovated recently. The tile flooring throughout the main living areas and kitchen is also consistent with the original build era. Although some light fixtures are modern, and the property is clean and staged well, the core elements of the kitchen and the lack of visible modern updates in bathrooms (no images provided) indicate it requires minor updates to meet current aesthetic standards. It is functional and maintained, but not 'move-in ready' without immediate renovation for a modern buyer's taste.
Year Built
1999
Close
-
List price
$690K
Original List price
$690K
Price/Sqft
$480
HOA
-
Days on market
-
Sold On
-
MLS number
25549335PS
Home ConditionFair
Features
Good View: Mountain(s), Panoramic
Pool
Spa
Patio
ViewMountain(s), Panoramic

About this home

"2024-2025"Guests Favorite on Booking Sites for Palm Springs STR. Good income potential. Available to show now!!!! Seller says to sell it!!!! Welcome to your new oasis in the heart of Palm Springs! This delightful home, a brand new listing on the market, presents an excellent opportunity for homebuyers and investors alike with its potential for short term rental income in the Vista Norte neighborhood not yet up to rental capacity, and serious appealing price point. Step inside to discover a cozy, well-laid-out space spanning 1,438 square feet, featuring three bedrooms and two full bathrooms. The primary bedroom offers a serene retreat, promising relaxation and privacy. The open-plan living area, flooded with natural light, provides a perfect setting for family gatherings and entertaining friends. Outside, your personal paradise awaits! The expansive outdoor space is ideal for hosting barbecues, soaking up the sun next to your own beautiful pool, and having a cocktail surrounding the firepit under the star struck evening sky!. Location is key, and this home is ideally situated to take full advantage of local amenities, as well as a few minute ride to the downtown location. This charming Palm Springs home is not just a place to live; it's a lifestyle waiting to be embraced. Don't miss out on making it yours!

Nearby schools

6/10
Vista Del Monte Elementary School
Public,•K-5•0.8mi
4/10
Raymond Cree Middle School
Public,•6-8•0.6mi
6/10
Palm Springs High School
Public,•9-12•2.2mi
4/10
Desert Learning Academy
Public,•K-12•2.4mi
Condition Rating
Fair
The property, built in 1999, is 25 years old. While well-maintained and featuring a desirable outdoor pool area, the interior shows signs of being dated. The kitchen has older-style white cabinets, what appears to be laminate or older solid surface countertops, and an electric coil-top range, suggesting it has not been extensively renovated recently. The tile flooring throughout the main living areas and kitchen is also consistent with the original build era. Although some light fixtures are modern, and the property is clean and staged well, the core elements of the kitchen and the lack of visible modern updates in bathrooms (no images provided) indicate it requires minor updates to meet current aesthetic standards. It is functional and maintained, but not 'move-in ready' without immediate renovation for a modern buyer's taste.
Pros & Cons

Pros

High Income Potential: The property is highlighted as a 'Guests Favorite on Booking Sites for Palm Springs STR' with 'Good income potential' in a neighborhood not yet at rental capacity, making it attractive for investors.
Private Resort-Style Backyard: An expansive outdoor space features a beautiful pool and firepit, creating a desirable oasis perfect for relaxation and entertaining in the Palm Springs climate.
Desirable Location: Ideally situated in the heart of Palm Springs, offering convenient access to local amenities and a short ride to the vibrant downtown area.
Scenic Mountain Views: The property boasts attractive mountain and panoramic views, enhancing its aesthetic appeal and overall desirability.
Bright & Open Interior: The home features an 'open-plan living area, flooded with natural light,' providing a welcoming and spacious atmosphere.

Cons

Significant Overpricing: The listing price of $690,000 is substantially higher than the estimated property value of $434,212.465, indicating a potential overvaluation of 37% based on current market analytics.
Lack of Modern Updates Mentioned: Unlike several comparable properties that emphasize recent renovations and modern upgrades, the description does not highlight similar updates, which could suggest a less contemporary interior finish.
Smaller Square Footage: At 1,438 sqft, the property offers less interior living space compared to several recently sold comparable homes in the immediate area that achieved similar or higher sale prices.

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