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580 East The Palms Street

580 East The Palms Street, Palm Springs, CA 92262
Property in El Mirador
Sold Jul 29, 2021
$2,100,000
$1,680,000 by Silicon Valley Bank
Mortgage Due Aug 01, 2051
Sold Mar 23, 2011
$580,000
$417,000 by Suntrust Mortgage Inc
Mortgage Due Apr 01, 2041
580 East The Palms Street has been categorized by the local assessors in Palm Springs, CA as a residential type of property. The building on the property was first built in 1937 and is 87 years old. However, we must point out that the home was most recently renovated and altered in 1970. The home has a total of 4 bedrooms. Residents will have access to 4 full bathrooms. There are 4 partial bathrooms in the home. This is a single story building so stairs are not necessary to access other parts of the home. In addition, 580 East The Palms Street has 3,510 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The area measurement of the land has been determined as 13,068 square feet.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. Love to swim? You'll be excited to find out that there is a pool on the property. Along the lines of building condition, did you know that weather changes can cause buildings to move? It may sound alarming, but thats why the type of control joints used in the construction of your home is extremely important. Architects often have to plan these out well in advance to ensure the longevity of the building. Therefore, as part of your consideration, you should note that the home was built with wood control joints. From what we've gathered, the quality of these control joints have been graded with a letter grade of D by the local assessor. The roof of the building is made of tile. The inside of the home is being cooled with central air conditioning at the moment. In terms of heating, it is utilizing a central heating system and being fueled with gas. There is a single fireplace in the home. Perfect for those wintery nights. Finally, the property is currently sourcing its water from a water system. The building on the property is connected to a sewer system. Here at RealtyHop, we've focused a lot of our efforts into gathering up-to-date and accurate data for our users. Based on our sources, 580 East The Palms Street was last sold in Jul 19, 2021 for $2,100,000. According to our calculations, that's $542.08 per sqft. Prior to that sales transaction, the property was sold for $580,000 in Feb 18, 2011. Current property owners are expected to pay $27,352 in taxes per year. Interestingly enough, the initial year of tax delinquency occurred in 2023. The property on 580 East The Palms Street was last assessed in 2023. As a result of that assessment, the total value of the property was placed at $2,142,000. To break that down further, the land itself was valued at $535,500. While improvements to the property were assessed at a total of $1,606,500. Based on our records, the total assessed value for this property has been marked as more than the total market value as of this moment. Which is pretty atypical. If possible, try to put down at least 20% towards the down payment during your home purchasing process. While you may be able to buy a home with less than a 20% down payment, your lender may then require you to pay for a private mortgage insurance (PMI). PMI protects the lenders and lowers their financial risk in case the borrower defaults. Generally, you'll need to pay more PMI when your total loan amount is higher. However, certain factor such as your credit score, loan type, loan term, and loan-to-value ratio can all impact your PMI as well.This property is not listed for sale at this point in time but RealtyHop is constantly updating our inventory of available sales listings in real time. Don't want to miss out on this property? You can save the listing to your favorites by signing up for a RealtyHop account or you can check back frequently for updates.

This property description is generated based on publicly available data.

Building Info

Overview

    General

  • Year Built: 1937
  • Effective Year Built: 1970
  • Building Count: 1
  • Bedroom Count: 4
  • Bathroom Count: 4
  • Full Bathrooms: 4
  • Partial Bathrooms: 4
  • Building Quality: D
  • Construction Type: Wood
  • Roof Cover Type: Tile
  • Floor Count: 1
  • Living Units: 1
  • Basement Area: 0
  • Parking Space Count: 0
  • Pool Type: Pool

    Dimensions

  • Lot Size Square Feet: 13,068
  • Total Building Area: 3,874
  • Gross Building Area: 3,874
  • Building Area: 3,510
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: Central air conditioning
  • Heating: Central heating
  • Heated Square Feet: 3,510
  • Heating Fuel Type: Gas

    Utilities

  • Sewer System: Yes
  • Water Service: Yes

Building

  • Property Class: Residential
  • Subdivision: MIRALESTE ESTATES
  • Land Acres: 0.3
  • Standard Land Use Code: Single family residential
  • County Land Use Code: Water rights (misc.)
  • Legal Description 1: .30 ACRES IN PAR 1 PM 231/034 PM 35187

Ownership

  • Current Owner : FUNKE MATTHEW ROBIN
  • Previous Owner : BARTH ROBERT J
  • Previous Owner 2: BARTH MARY ANN
  • Owner Before Previous Owner: DIERICKX MARC J
  • Owner Before Previous Owner 2: DE LELYA FRANK
  • Is Owner Occupied: Owner-occupied property

Neighborhood

  • School District Name: Palm Springs Unified School District
  • Census Tract: 044602

Zoning

  • Zoning: C

Geography

  • Assessors Map Reference: 35187
  • Parcel: 507-030-040
  • Lot: 1
  • Municipality: PALM SPRINGS
  • Latitude: 33.8418
  • Longitude: -116.541

    Address

  • Full Address: 580 E The Palms St
  • Address - House Number: 580
  • Street Direction: E
  • Address - Street Name: The Palms
  • Address - Suffix Type: St
  • State: CA
  • City Name: Palm Springs
  • Carrier Code: C011
  • 4-Digit Zip Code: 4738
  • Zip Code: 92262

Valuation

    Tax

  • Total Area: 3,510
  • Tax Year: 2023
  • Tax Amount: $27,352
  • Intital Tax Deliquent Year: 2023
  • Tax Rate Code Area: 011-003

    Appraisal Valuation

  • Standard Deviation: 0.2124
  • Valuation Date: Feb 14, 2024
  • Confidence Score: 71
  • Final Value: 2,038,210
  • High Value: 2,471,206
  • Low Value: 1,605,214

    Open Liens

  • Total Open Liens: 2
  • Total Open Liens Amount: $1,805,000
  • First Open Lien Mortgage Lender: SILICON VALLEY BANK
  • First Open Lien Mortgage Recording Date: Jul 29, 2021
  • First Open Lien Mortgage Financing Type: Adjustable Rate
  • First Open Lien Mortgage Loan Amount: $1,680,000
  • First Open Lien Mortgage Term: 360
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: New Conventional
  • First Open Lien Mortgage Loan Due Date: Aug 01, 2051
  • Second Open Lien Mortgage Lender: FIRST BANK
  • Second Open Lien Mortgage Recording Date: Jul 31, 2023
  • Second Open Lien Mortgage Loan Amount: $125,000
  • Second Open Lien Mortgage Term: 60
  • Second Open Lien Mortgage Position: 2
  • Second Open Lien Mortgage Loan Type: Building or Construction Loan
  • Second Open Lien Mortgage Loan Due Date: Jul 27, 2028

    Market Valuation

  • Market Total Value: $1,854,360

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $2,142,000
  • Assessed Land Value: $535,500
  • Assessed Improvements Value: $1,606,500

    Sales

  • Current Sale Contract Date: Jul 19, 2021
  • Current Sale Recording Date: Jul 29, 2021
  • Current Sale Transaction ID: 11845970857
  • Current Sale Price: $2,100,000
  • Current Sale Document Type: Grant Deed
  • Current Sale Input Document Number: 2021-0455283
  • Previous Sale Recording Date: Mar 23, 2011
  • Previous Sale Contract Date: Feb 18, 2011
  • Previous Sale Amount: $580,000
  • Previous Sale Document Type: Grant Deed

    Last Sale Mortgage

  • First Mortgage Lender: SILICON VALLEY BANK
  • First Mortgage Transaction Date: Jul 29, 2021
  • First Mortgage Loan Amount: $1,680,000
  • First Mortgage Terms: 360
  • First Mortgage Loan Type: New Conventional
  • First Mortgage Loan Due Date: Aug 01, 2051

    Financing

  • First Mortgage Financing Type: Adjustable Rate

    Previous Mortgages

  • Previous Mortgage Lender: SUNTRUST MORTGAGE INC
  • Previous Mortgage Transaction Date: Mar 23, 2011
  • Previous Mortgage Loan Amount: $417,000
  • Previous Mortgage Term: 360
  • Previous Mortgage Loan Type: New Conventional
  • Previous Mortgage Loan Due Date: Apr 01, 2041

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Frequently Asked Questions

What neighborhood is 580 East The Palms Street located in?
The 580 East The Palms Street is a located in the neighborhood of El Mirador in El Mirador, Palm Springs.
What is the average sales price for listings in 580 East The Palms Street?
The average sales price for units in 580 East The Palms Street is $0 currently.

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