291 E Mel Ave UNIT 312Palm SpringsCA92262
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Palm Springs at 291 E Mel Ave UNIT 312, Palm Springs, CA, 92262 generates $2,561/mo in rent and, after a $1,953/mo payment, leaves $93/mo in cash flow. Total monthly income is $2,561/mo, and annual cash flow is $1,111/yr on $132,269 invested. Return on cash invested sits at 20.75% in year one, and rental yield is 7.7% on a $399,000 entry. Equity gained on principal adds $2,575/yr, while 5% annual appreciation builds toward $110,236 over five years. Five-year ROI reaches 107.35% and total cumulative return in cash sums $141,986. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,561/mo property income rather than buyer’s personal income.
Condo
Built in 1983
902 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 92262, Palm Springs, CA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,725 (100%) |
| Owner Occupied HU | 8,475 (43.0%) |
| Renter Occupied HU | 6,025 (30.5%) |
| Vacant Housing Units | 5,225 (26.5%) |
| Median Home Value | $778,535 |
| Average Home Value | $846,527 |
Housing Distribution
Address Breakdown
Residential
15,931
Single Family
14,634
Multi-Family
1,297
Businesses
1,444
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Listed by: Timothy McTavish • Desert Sotheby's International Realty
Mls Name: CRMLS
Mls ID: #219134543PS