$775,000
●
House -
Off Market
48 Cornell Drive
Rancho Mirage, CA 92270
4 Beds
4 Baths
3,079 Ft²
$5,878
Est. Monthly
$1,709
HOA / Fees
5.36%
Cap Rate
About This Property
A peaceful front patio greets you as you enter etched glass double
doors into a foyer with an recessed ceiling. This 4bd/4ba
Pebble Beach model ( One bedroom has been used as a den) is
ready for your personal touches. Boasting 3079 sq ft with an
updated kitchen featuring newer appliances and granite countertops.
A bar with separate refrigerator is steps from the walls of glass
that open to the back patio with private pool/spa & pergola facing
the southern mountain views. Perfect for entertaining family &
friends or just enjoying a cocktail while gazing at the beautiful
San Jacinto mountains. This home has potential, potential,
potential! THE SPRINGS is a premier, private country Club in the
heart of Rancho Mirage featuring an 18-hole championship golf
course, a beautiful remodeled clubhouse, fitness center, a separate
Courts Pavilion, tennis pickleball, bocce ball and a very lively
social scene. THE SPRINGS - IT'S WHERE YOU BELONG.
Unit Size
3,079 Ft²
Days on Market
246 days
Land Size
0.14 acres
Price per sqft
$276
Property Type
House
Property Taxes
-
HOA Dues
$1,709
Year Built
1979
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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: 2 years ago (CRMLS #219116536PS)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 15, 2025 | Sold | ||
| Sold | |||
| Apr 4, 2025 | Price Decreased |
$849,000
↓ $146K
(14.7%) | |
| Price Decreased | |||
| Apr 4, 2025 | In contract | - | |
| In contract | |||
| Nov 17, 2024 | Price Increased |
$995,000
↑ $146K
(17.2%) | |
| Price Increased | |||
| Oct 7, 2024 | Relisted | $849,000 | |
| Relisted | |||
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Property Highlights
Garage
Air Conditioning
Fireplace
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
About Springs Country Club
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Listed by: Encore Premier Group, Bennion Deville Homes
Last Updated: 2 years ago
Data Source: CRMLS, MLS# 219116536PS
Last Updated: 2 years ago
Data Source: CRMLS, MLS# 219116536PS
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