623 Desert Way
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 19, 2025 | Listed | $1,300,000 | |
| Listed | |||
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Mid-Century Modern inspired retreat with pool, spa, and timeless style. Welcome to your own Palm Springs oasis--this turnkey furnished, Mid-Century Modern designed home offers the perfect blend of style, comfort, and functionality. With 3 spacious bedrooms and 2 updated bathrooms, this 1,400 sq ft residence sits on a generous 10,019 sq ft lot and showcases warm, natural materials and clean architectural lines throughout. Step inside and you'll find wood-paneled and beamed ceilings, an open-concept kitchen with stainless steel appliances, and a cozy fireplace in the Family Room, creating a welcoming ambiance ideal for relaxing or entertaining. The seamless fusion of indoor and outdoor living is emphasized by sliding glass doors in all three bedrooms, opening directly to the expansive rear yard, large pool, and spa--perfect for soaking up the desert sun or enjoying cool evenings under the stars. Built in 2002 and sold fully turnkey, this home combines timeless appeal with modern convenience, offering enduring design and low-maintenance living. Best of all, there's no HOA, no land lease, and it's located just minutes from downtown Palm Springs, shopping, dining, and world-class entertainment. Whether you're looking for a proven short-term rental, a full-time residence, or a vacation getaway, this home is ready for you to move in and start living the desert lifestyle.
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| Aug 8, 2022 | Sold | ||
| Sold | |||
| Jun 20, 2022 | Listed by Compass | $1,150,000 | |
| Listed by Compass | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017