Residential Income Property with
For Sale
$224,900
324 Wigwam, Palm Springs, CA 92264
Newly built residence with central air, mountain views, and a private driveway.
Property Size1,056 SF
Price / SF$212.97
Days on Market132
Property Features for 324 Wigwam
General Information
Standard status
Active
Size
1,056 SF
Total Parking Spaces
2
Property subtype
Manufactured In Park
Amenities
Pool
Clubhouse, Game Room, Meeting Room, Pool, Recreation Room, Spa/Hot Tub
Central Air
Central
Dishwasher, Microwave, Oven, Range, Refrigerator, Vented Exhaust Fan, Washer/Dryer Stacked
Ceiling Fan(s), Cathedral Ceiling(s), Walk-In Closet(s)
Mountain(s), Pool
Vinyl
Driveway, Guest, Private
Building Details
Building Size
1,056 SF
Year Built
2026
Stories
1
Listing Agency:
(760) 902-2047
Listed By:
Jeni Campa
(760) 902-2047
Source:
Evrealestate
Added: Apr 23
Changed: Aug 31
Last Checked: Aug 31 at 1:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Jeni Campa
Investment Insights
Based on property information with market context.
This residential income property at 324 Wigwam in Palm Springs includes central air, a central heating system, ceiling fans, and cathedral ceilings. The interior also features a walk-in closet and a kitchen equipped with a dishwasher, microwave, oven, range, refrigerator, and vented exhaust fan, along with a stacked washer and dryer. The home was built in 2026.
Exterior features include mountain views and a pool, with vinyl exterior construction and private driveway parking. Guest parking is also available. The property is located in Riverside County, California.
Exterior features include mountain views and a pool, with vinyl exterior construction and private driveway parking. Guest parking is also available. The property is located in Riverside County, California.
Key Highlights
- Built in 2026
- Mountain views and pool
- Central air and central heating
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,093
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$341,860
$341.9K
Cap Rate 7%
$244,186
$244.2K
Cap Rate 9%
$189,922
$189.9K
Market Conditions
NOI Build-Up for 1,056 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.7K $30.00/SF
− Vacancy
−$602 −$0.57/SF
EGI
$31.1K $29.43/SF
− OpEx
−$14.0K −$13.24/SF
NOI
$17.1K $16.19/SF
Area
Riverside County, CA
Vacancy
1.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$341,860
Cap Rate 7%
$244,186
Cap Rate 9%
$189,922
Alternative Uses
Best Use
Apartment 5plus
$244.2K
$213.7K – $284.9K
NOI $17,093 @ 7.0% cap · market cap 7.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$316.4K
$276.8K – $369.1K
NOI $22,145 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
847
Businesses Nearby
Explore this area
Business Placement
Demographics for 92264, CA
19,254
Population
17,518
Households
1.1
Avg Household Size
61
Median Age
48%
College-Educated
94%
High-School Grad
50.9 sq mi
ZIP Area
378
Density / Sq Mi
$75,246
Median Household Income
$46,756
Median Earnings
$1,581
Median Rent
$498,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Newly built residence with central air, mountain views, and a private driveway.
Where is this residential income property located?
The property is located at 324 Wigwam Palm Springs, CA.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Built in 2026; Mountain views and pool; Central air and central heating
