Vacation Rental w/Instant Equity

467 E Molino Rd, Palm Springs, CA 92262, USA

Bedrooms: 4, Bathrooms: 3.0, Sqft: 1798, Lot Size: 11326, Year Built: 1963
Brought to you by:
(855) 234-FLIP
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Prime OFF MARKET home in Palm Springs! This home is located in the highly desirable "Tahquitz River Estates" area of South Palm Springs. Palm Springs is red-hot with renowned festivals, eateries, and world-class museums! Surrounded by Million dollar homes this house is definitely in good company. With a lot of the boring work already done, new roof, new HVAC, and a new electrical panel you won't run into surprises. So, functionality has been taken care of, now it's up to you for the cosmetics. You have plenty of yard to be creative with, the 11,326 square foot lot provides stunning views with tons of entertaining space. The home checks all the Palm Springs boxes to get the biggest bank for your buck, now it's just up to you to bring this great property back to life and cash in the big check! Hope to see you in the next couple of days! link to additional document

Financial Summary

Project Costs

Purchase Price
Purchase Costs
Rehab Costs
Rehab Contingency (10%)
Rehab Holding Costs
Total Project Costs
Cash out of Pocket
Rehab Project Length
9 Month(s)

Project Returns

Sales Price
Project Costs
Sale Costs
Profit Amount
Hard money loan Partner Share (5.00%)
Remaining Share
Unlevered ROI
Unlevered ROR


AddressDistBedsBathsSqftSold ($)$/sqftSale date
465 E Simms Rd0.05 miles32.01456$575,000$3952017-01-19
326 E Laurel Cir0.23 miles32.01225$550,000$4492016-12-07
444 E Desert Willow Cir0.33 miles32.01225$487,700$3982016-10-21

CMA Summary

By Average of Sales

Adjusted Comps

Avg of Adjusted Sales ARV
Subject Sqft
Adjusted $/sqft

Unadjusted Comps

Avg of Sales ARV
Subject Sqft
Avg of Sales $/sqft

By Average of $/Sqft

Adjusted Comps

Avg of Adjusted $/sqft
Subject Sqft
Calculated Adj. ARV

Unadjusted Comps

Avg of Unadjusted $/sqft
Subject Sqft
Calculated ARV

CMA Detail

BasicsSubjectComparable Comparable Comparable
Address467 E Molino Rd, Palm Springs, CA 92262, USA465 E Simms Rd, Palm Springs, CA 92262, USA326 E Laurel Cir, Palm Springs, CA 92262, USA444 E Desert Willow Cir, Palm Springs, CA 92262, USA
Sold Date2015-07-272017-01-192016-12-072016-10-21
Sold $$349,000$575,000$550,000$487,700
Feature Values
Garage spaces
Carport spaces
Lot size sqft
Basement sqft
Has pool
Has view
Adjustment Subtotals$20,398$66,557$35,796
Adjusted $/sqft$322$409$503$427
Adjusted ARV $$578,484$595,398$616,557$523,496

Purchase Costs

Inspection$ Amount$500
Closing1.00 % of Purchase$5,000
Commission3.00 % of Purchase$15,000
Auction2.50 % of Purchase$12,500
Total Purchase Costs:$33,000

Sale Costs

Commission6.00 % of Sale$44,460
Broker Fee$ Amount$300
Closing Costs1.00 % of Sale$7,410
Buyer's Closing Costs2.00 % of Sale$14,820
Title Insurance$ Amount$350
Staging$ Amount$2,500
Photography$ Amount$500
Total Sale Costs:$70,340

OpEx: Utilities & Periodic Costs

Annual Expense Growth Rate: 3.0%

NameSetup ($)Amount ($/period)Cost
Property Taxes$0$7,000/ Year$5,250
Property Management$010.00 % of Receipts$4,050
Total OpEx Costs:$13,670


NameAmount Financed ($)Rate (%)PointsFeesTermTotal of Payments
Hard money loan.

An interest only purchase loan for the financing of custom amount

$350,00010.00%2.00$0280 Days$33,250
Rehab costs loan.

An interest only purchase loan for the financing of rehab costs

$63,80010.00%0.00$0280 Days$4,785
Total Payments:$38,035

Summary Rehab Estimate

Category($) Amount
Roofing and Flashing
Total Rehab Cost:$101,250

Detailed Rehab Estimate



Windows, Vinyl Windows, Vinyl single-hung stock replacement windows, insulating glass, 52" x 49-1/2"
5.0 Each @ $197.57$987.85
Windows, Vinyl Windows, Vinyl double-hung stock replacement windows, 7/8" insulating Low-E glass, 36" x 50"
5.0 Each @ $214.91$1,074.55
Windows, Aluminum Windows, Aluminum single-hung vertical sliding bronze windows, insulating glass, 3' x 4' 4"
5.0 Each @ $166.36$831.80
Windows, Storm Windows, Aluminum storm windows, 32" x 63", white finish
5.0 Each @ $78.34$391.70
Windows, Wood Windows, Wood double-hung windows, 2'8" x 5'2"
5.0 Each @ $300.59$1,502.95
Windows, Specialty Windows and Skylights, Fixed curb-mount skylights, Velux, 46-1/2" x 46-1/2"
4.0 Each @ $494.70$1,978.80
Windows Subtotal:$6,767.65

Foundations and Slabs

Foundations and Slabs, Concrete Flatwork, Asphalt paving, Shovel, rake and machine roll 3" thick base material, sweep and tack coat area, shovel, rake and machine roll 3" bituminous mix, Add for each 1" of thickness
4.0 SY @ $9.10$36.40
Foundations and Slabs Subtotal:$36.40

Rough Carpentry

Rough Carpentry, Changes to Walls and Ceilings, Remove and replace exterior wall, 2" x 6" stud walls with drywall interior, wood siding exterior, same construction as above, except with 6-1/4" R-19 insulation, Cost per running foot, 8' high wall
10.0 LF @ $56.30$563.00
Rough Carpentry, Changes to Walls and Ceilings, Remove and replace interior partition wall, 2" x 6" stud walls with 1/2" gypsum drywall both sides, ready for painting, Cost per running foot, 8' high wall
50.0 LF @ $43.14$2,157.00
Rough Carpentry, Changes to Roof Framing, Rafters, 2" x 10", Std & Btr, 16" centers (1.97 BF per SF)
5.0 Square Feet @ $2.45$12.25
Rough Carpentry, Framing Room Additions, Wall studs - room addition, 4" x 4", Std & Btr, Installed in wall framing, with 10% waste
10.0 LF @ $3.35$33.50
Rough Carpentry Subtotal:$2,765.75

Roofing and Flashing

Roofing and Flashing, Slate and Tile Roofing, Roofing tile, clay, Red clay mission tile, 2-piece, 86 pans and 86 tops per square, 7-1/2" x 18" x 8-1/2" tiles at 11" centers and 15" exposure, Red clay tile
30.0 Sq @ $570.18$17,105.40
Roofing and Flashing Subtotal:$17,105.40

Floors and Tile

Floors and Tile, Wood Strip and Plank Flooring, Bruce oak solid hardwood strip flooring, Gunstock (eastern)
1600.0 Square Feet @ $9.34$14,944.00
Floors and Tile Subtotal:$14,944.00


Kitchens, Range Hoods, Custom range hood power package, 700 CFM, dual blowers, 7" duct, 1.5 to 4.6 sones, 48" wide x 28" deep
1.0 Each @ $914.33$914.33
Kitchens, Kitchen Cabinets, Finished Kitchen Cabinets, Oak finished base cabinets, 18" wide, 3-drawer base
20.0 Each @ $282.74$5,654.80
Kitchens, Kitchen Cabinets, Finished Kitchen Cabinets, Oak finished wall cabinets, 30" wide x 18" high, 2 doors
15.0 Each @ $160.34$2,405.10
Kitchens, Custom Countertops, Solid surface countertops, Color Group 3, Premium edge
40.0 Square Feet @ $80.51$3,220.40
Kitchens, Custom Countertops, Engineered stone countertops, Large dark chips, 3/4" square edge
0.0 Square Feet @ $63.79$0.00
Kitchens, Stainless Steel Sinks, Stainless steel single bowl sink, Signature Series, Elkay, 33" x 22", 18 gauge
1.0 Each @ $235.21$235.21
Kitchens, Cooktops, 30" gas cooktop, Maytag, No
1.0 Each @ $827.22$827.22
Kitchens, Wall Ovens, 30" electric double wall oven, Choice of finishes
1.0 Each @ $1,903.52$1,903.52
Kitchens, Mounted Microwave Ovens, 1.4 cubic foot over-the-range microwave oven, Stainless
1.0 Each @ $278.26$278.26
Kitchens, Dishwashers, 13-cycle stainless steel interior dishwasher, Jenn-Air, Dishwasher
1.0 Each @ $811.41$811.41
Kitchens Subtotal:$16,250.25

Plumbing and HVAC

Plumbing and HVAC, Heating System Renovations, Gas wall furnace, 60,000 Btu, pilot ignition
1.0 Each @ $1,127.10$1,127.10
Plumbing and HVAC, Gas Water Heaters, 75-gallon gas water heater, 70,000 Btu, Low-NOx
1.0 Each @ $2,793.88$2,793.88
Plumbing and HVAC Subtotal:$3,920.98


Electrical, Lighting Fixtures, Glass chandelier, 6 light, brushed nickel
1.0 Each @ $299.47$299.47
Electrical, Ceiling Fans, San Marino(tm) ceiling fan with light kit, Hampton Bay(tm), 36", brushed steel
5.0 Each @ $136.17$680.85
Electrical, Recessed Lighting, Recessed low-voltage slot aperture light kit, remodel, Commercial Electric, 4", white slot aperture trim
20.0 Each @ $92.41$1,848.20
Electrical Subtotal:$2,828.52

Porches and Decks

Porches and Decks, Post and beam wood deck, Based on rectangular 12' x 10' deck with railing on four sides and stairway, 24" above ground level, With 2" Thompsonized plank
300.0 Square Feet @ $20.31$6,093.00
Porches and Decks, Pool and Spa Replastering, Pool replastering and resetting pool fixtures, Deep color plaster aggregate
30.0 LF @ $59.46$1,783.80
Porches and Decks Subtotal:$7,876.80

Painting and Finishing

Painting and Finishing, Labor Estimates for Painting, Cost to repaint a home interior, Repaint a home interior, per 100 SF of floor
20.0 100 Square Feet @ $136.37$2,727.40
Painting and Finishing, Labor Estimates for Painting, Cost to repaint a home exterior, Repaint a home exterior, per 100 SF of floor
20.0 100 Square Feet @ $97.51$1,950.20
Painting and Finishing Subtotal:$4,677.60


Door 2
1.0 Each @ $2,500.00$2,500.00
Doors Subtotal:$2,500.00


General contractor markup
20.00 %$16,928.76
Materials sales tax
9.00 %$4,970.47
Total Cost:$101,572.58