56408 Palms Drive
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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%.
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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.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 3, 2022 | No longer available | - | |
| No longer available | |||
| May 25, 2022 | Listed by Bennion Deville Homes | $1,425,000 | |
| Listed by Bennion Deville Homes | |||
| | |||
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Situated on the 10th fairway of the renown Palms Golf Club this home allows for sweeping panoramic southeastern views for your morning coffee as you enjoy the sunrise. As you enter through your own private gate into the courtyard, you find double glass doors inviting you to enter the main house. You, your family & friends will find a relaxed, desert atmosphere as you enjoy the open floor plan consisting of the great room, gourmet kitchen, den which could also be a home office. In addition, there is a dining area along with a built-in bar. Double sliders beckon you to the outdoor leisure space with includes a tile pool, spa, and a BBQ & lounge area. The primary suite with view to the course has a separate door that leads to the spa, the bath offers a tub, shower, dual vanities & 2 walk-in closets. The 2nd bedroom is on the opposite wing providing privacy for both owners & guests. Off the front courtyard is the extra-large 2-room Casita. The Palms is La Quinta's hidden treasure with 101 homes situated only on the perimeter giving owners privacy that is rare on a golf course. The Golf Club at The Palms was designed by Fred Couples & Brian Curley. It is all about golf with no Tee times and average round taking about 3 hours. The Club is separate from the community; residents can join but it is not mandatory. Watch video here for Jack Whitaker's commentary on the Club https://www.youtube.com/watch?v=dvD9iAWZkCc The manager has listed the unit size as 3078 square feet.
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| Oct 6, 2021 | No longer available | - | |
| No longer available | |||
| Oct 14, 2020 | Sold | ||
| Sold | |||
| Aug 14, 2020 | In contract | - | |
| In contract | |||
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About La Quinta
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017