Listed by: Wendy Preston, Coldwell Banker Realty
$445,000
●
House -
Off Market
47740 Dancing Butterfly
La Quinta, CA 92253
3 Beds
2 Baths
1,348 Ft²
$490,752
RealtyHop Estimate
4.64%
Since Nov 1, 2022
National-US
Primary Model
About This Property
This beautiful 1,348 sq. ft., 3 BR, 2 BA home with many upgrades is
located in the much-desired 55+ gated development of Watercolors.
It is one of the few homes within the community that is situated on
a premium corner lot with mountain views. Watercolors is a
55+ Senior Community and income qualified offering low maintenance
living, community pool, spa and clubhouse. This property
carries a $103,000 silent second with the La Quinta Housing
Authority and must meet the moderate-income requirements. Total
purchase price including silent second is $469,000 ($366,000 +
$103,000 = $469,000). The minimum down payment is 3% of total
purchase price. Loan is based on $366K. Great price for living in
La Quinta, the fabulous Gem of the Desert for under 400K is a
steal! Listing price includes the $103k silent second. Call for
details!
Unit Size
1,348 Ft²
Days on Market
81 days
Land Size
0.09 acres
Price per sqft
$348
Property Type
House
Property Taxes
-
HOA Dues
$186
Year Built
2007
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 3 years ago (CRMLS #219082436DA)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 22, 2023 | No longer available | - | |
| No longer available | |||
| Jun 14, 2023 | In contract | - | |
| In contract | |||
| Apr 22, 2023 | Listed by The Locklear Group | $459,950 | |
| Listed by The Locklear Group | |||
| | |||
|
This beautiful and spacious 3 BR, 2 BA home is located in the much desired gated 55+ development of Watercolors, featuring high ceilings, an open great room floor plan with a cozy fireplace, spacious kitchen with a breakfast bar . Slider in great room has access to patio with a beautiful mountain view. Watercolors is a 55+ age and income qualified community offering low maintenance living, community pool & spa and a clubhouse. Conveniently located near shopping and dining.Total purchase price including silent second is $459,950 ($356,950 + $103,000 = $469,000). The minimum down payment is 3% of total purchase price unless using a VA loan. Great price for living in La Quinta, the fabulous Gem of the Desert for under 400K is a steal! Listing price includes the $103k silent second.Income limits (minimum and maximum income based on household size:1 person 49,301 to 73,450, 2 people 56,351 to 83,900, 3 people 63,401 to 94,400, 4 people 70,401 to 104,900. NO Rentals & NO cash purchases. The manager has listed the unit size as 1348 square feet.
| |||
| Oct 28, 2022 | Sold | ||
| Sold | |||
| Jul 27, 2022 | Listed by Coldwell Banker Realty | $469,000 | |
| Listed by Coldwell Banker Realty | |||
Property Highlights
Air Conditioning
Fireplace
Garage
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
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About Santa Rosa
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Listed by: Wendy Preston, Coldwell Banker Realty
Last Updated: 3 years ago
Data Source: CRMLS, MLS# 219082436DA
Last Updated: 3 years ago
Data Source: CRMLS, MLS# 219082436DA
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