airbnb property for sale Palm Springs
Known for having plenty of natural hot springs and diverse restaurants, Palm Springs City is definitely one of the areas that travelers and young professionals go to in California.
Its beautiful sunny weather and shopping districts makes it perfect for anyone who wants to relax and be productive with outdoor activities at the same time. While many travelers consider this city on their travel bucket list, it’s most certainly a thrill for property investors too!
To begin with, the major costs and potential revenue should be considered before deciding to purchase a property. Another excellent option is to do rental arbitrage, since it’s fairly popular and does not require you to purchase a property as a start.
Here’s an interesting fact: Palm Springs is one of the best places to Airbnb in California!
Aside from looking at a property’s fascinating architectural design, proximity to major tourist areas, and accessibility to the best go-to places, the primary step is to determine profitability. In this article, we’ll discuss the metrics in order to gauge the best property investment.
This includes the best website recommendations for property investment in Palm Springs, property gross rental yield, cash-on-cash return, and annual revenue, along with some of the most ideal and profitable properties according to their location. Stoked to learn more? Continue reading!
Is Property Investment Profitable in Palm Springs City Center?
Using a Airbnb income calculator, it was discovered that a 2-bedroom apartment in Palm Springs City Centre can generate an annual revenue of $58,609 with a steady occupancy rate of 67% and a nightly rate of $187.
airbnb property for sale Palm Springs
Cheap Homes for Sale in Palm Springs
Finding the best properties that have the potential to produce high yields and capital growth are certainly some of the preferences of major investors. It’s always best to ask for assistance from real estate agents to access exclusive and unique properties during the development stage.
At the same time, it’s even better when a property investor like you conducts research about predicted growths and market forecasts. Here are some of the profitable properties in Palm Springs Centre along with the calculated gross rental yield, cash-on-cash return, and annual revenue:
1. Studio-type Property for Sale in Palm Springs
Near Sandalfoot S
Asking Price: $85,000
| GROSS RENTAL YIELD | 32.67% |
| ANNUAL REVENUE | $27,766 |
| CASH ON CASH RETURN | 72.23% |
178 Normandy D, Delray Beach, FL 33484
2. 1-Bedroom Property for Sale in Palm Springs
Near Flanders Way
Asking Price: $87,000
| GROSS RENTAL YIELD | 26.55% |
| ANNUAL REVENUE | $23,095 |
| CASH ON CASH RETURN | 53.87% |
200 Village Green Cir E Apt 208, Palm Springs, FL 33461
3. 2-Bedroom Property for 0.2 miles Clifford O Taylor/Kirklane Elementary School
Asking Price: $146,963
| GROSS RENTAL YIELD | 20.62% |
| ANNUAL REVENUE | $30,301 |
| CASH ON CASH RETURN | 36.09% |
4004 Waterview Cir, Palm Springs, FL 33461
4. 3-Bedroom Property for Sale in Palm Springs
Near Waterview Cir
Asking Price: $349,990
| GROSS RENTAL YIELD | 27.64% |
| ANNUAL REVENUE | $96,733 |
| CASH ON CASH RETURN | 57.15% |
5450 NW 49th St, Coconut Creek, FL 33073
5. 4-Bedroom Property for Sale in Palm Springs
Near NW 49th St
Asking Price: $574,900
| GROSS RENTAL YIELD | 25.37% |
| ANNUAL REVENUE | $145,875 |
| CASH ON CASH RETURN | 50.35% |
Conclusion
Since Airbnb is rapidly increasing and constantly changing for each city in the world, it is crucial to make decisions based on wild guesses. The data points mentioned in this article for Palm Springs such as Airbnb occupancy rates, annual revenue, and average daily rate should be the primary basis before investing in a property.
Hence, if the data presented above has given you ideas to boost your strategic pricing plan for your business, then an Airbnb rental arbitrage calculator is certainly what you need for success in the long run. It’s a fact that some of the STR investors are also considering Airbnb Rental Arbitrage, but they still need to have a reliable data tool on which to base their conclusions!
As we live in a digital era, an accurate data analytics tool can help your business stand out among your surrounding competitors and benchmark your property by tracking the occupancy rates of competing listings in your preferred city.
