209 Marisma Way · Cathedral City, CA 92234

$125,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 17 Days on market

Built 1971 3,000 sqft lot $87/sqft · 44% above area Est $87k · 44% over $1/mo HOA

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your oasis at Date Palm Country Club! This meticulously maintained home offers the best value in the area and is priced to sell. Enjoy the serene ambiance of this golf club community, boasting a guarded entry, tranquil lakes, charming ponds, and delightful ducks. Step onto the wrap-around patio of this elevated lot and feel the cool breeze from the course gently brushing against your skin. Mature trees provide natural shade, creating the perfect spot to relax and unwind. The open circular patio exudes a mid-century charm, complemented by modern upgrades such as dual pane windows, new roof glazing, and a custom backsplash. Inside, the kitchen delights with its upgraded features in

Key facts

• Guarded entry
• Wrap-around patio
• Charming ponds

Tags

• GOLF CLUB COMMUNITY
• GUARDED ENTRY
• TRANQUIL LAKES
• CHARMING PONDS
• WRAP-AROUND PATIO
• ELEVATED LOT

Property features AI

Finance

• Other: CC&R disclosures and HOA-related disclosures present; Short-term rentals not allowed; Will not consider lease
• Financial info: Land is leasehold with annual land lease amount of $15,540
• HOA & community: HOA dues collected annually; Association fee approximately $10 (frequency: annually); Additional monthly association fee listed as $1; Community amenities include clubhouse, pet rules, golf course, and other courts; Senior community

Exterior

• Parking: 4 total parking spaces; 2 covered spaces; 2 carport spaces; Covered parking
• Security: Gated community
• Utilities: Sewer connected and paid; PUD: No
• Home design: Detached property; One level; Double wide mobile home; Year built per assessor
• Construction: Gunite pool construction
• Exterior features: Street lights; Community pool and spa (gunite construction); Has views of the golf course and mountains; Security features (other)

Interior

• Flooring: Mixed flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Unfurnished; Family room; Living room; No fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.7% vs local median 5.1% in Cathedral City — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#344 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing B+; Watch: employment D+, schools F, amenities D-.
• Palm Springs Unified (suburban): math 21% / reading 42% proficiency, ranked #328 of 517 in CA (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.2%/yr); 530 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• This rent runs 44% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 6y ago; this cycle's ask is 5852% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $57k; list at $125k implies a 119% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,125 (1.5% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.17% ✓
• Cap rate: 19.70%
• Cash-on-cash: 47.89%
• DSCR: 3.13
• GRM: 3.8

CMA / ARV

• ARV (median comp): $87,000
• List price: $125,000
• Delta: 43.68%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
229 Calle Leandro	0.02mi	2/2.0	1,440 (0%)	3mo	$90,000	$63	97
67 Paseo Laredo North	0.17mi	2/2.0	1,440 (0%)	1mo	$55,000	$38	91
153 Estrada Way	0.24mi	2/2.0	1,440 (0%)	1mo	$46,500	$32	88
126 Via Valverde	0.23mi	2/2.0	1,440 (0%)	2mo	$179,500	$125	87
35 N Paseo Laredo	0.23mi	2/2.0	1,440 (0%)	4mo	$157,000	$109	86
12 Via Valverde	0.29mi	3/2.0 (+1)	1,440 (0%)	5mo	$120,000	$83	78
443 Paseo Perdido	0.56mi	2/2.0	1,440 (0%)	0mo	$65,000	$45	73
464 Cerritos Way	0.56mi	2/2.0	1,440 (0%)	2mo	$95,000	$66	72
409 S Paseo Laredo	0.57mi	2/2.0	1,440 (0%)	2mo	$58,000	$40	72
447 Paseo Perdido	0.58mi	2/2.0	1,590 (+10%)	1mo	$55,000	$35	55
337 Via Don Benito	0.65mi	2/2.0	1,608 (+12%)	0mo	$77,000	$48	50
379 Avenida Andorra	0.70mi	2/2.0	1,640 (+14%)	6mo	$120,000	$73	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.22% rent growth · sell at horizon

5-year hold

• IRR: 45.6%
• Equity multiple: 2.98×
• Total profit: $69,270
• Equity at exit: $18,638

10-year hold

• IRR: 51.5%
• Equity multiple: 6.06×
• Total profit: $177,208
• Equity at exit: $10,808

Cash invested: $35,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 92234

• Home prices YoY: -27.7%
• Rents YoY: 3.2%
• Active inventory: 530
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,709 high
• Mortgage (P&I): −$656
• Tax from tax record: −$35 /mo · $418/yr
• Insurance: −$52
• HOA: −$1
• Vacancy / Maint / Mgmt: −$569
• Net cashflow: $1,397

Break-even live

Break-even rent $941

Max offer price $125,000

Occupancy floor 43%

Sensitivity live

Price	-10% $1,467	-5% $1,432	+0% $1,397	+5% $1,361	+10% $1,326
Rent	-10% $1,183	-5% $1,290	+0% $1,397	+5% $1,504	+10% $1,611
Rate	-1.0pp $1,460	-0.5pp $1,429	base $1,397	+0.5pp $1,364	+1.0pp $1,331

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
159 Estrada Way Cathedral City, CA	3.0	2.0	1800	$2,850	$1.58	44d	1	0.20mi
152 Estrada Way #152 Cathedral City, CA	2.0	2.0	1500	$2,200	$1.47	44d	1	0.22mi
36040 Avenida de las Montanas Unit E Cathedral City, CA	2.0	2.0	1220	$3,200	$2.62	44d	1	0.35mi
250 S Paseo Laredo Cathedral City, CA	2.0	2.0	1600	$1,800	$1.12	13d	1	0.38mi
251 S Paseo Laredo Unit 251 Cathedral City, CA	1.0	2.0	1440	$2,550	$1.77	25d	1	0.39mi
251 S Paseo Laredo Cathedral City, CA	2.0	2.0	1440	$2,400	$1.67	44d	1	0.39mi
35615 Paseo Circulo E Cathedral City, CA	1.0	2.0	1029	$2,250	$2.19	44d	1	0.51mi
68882 Calle Mula Cathedral City, CA	2.0	2.0	1714	$2,500	$1.46	21d	1	0.53mi
69200 Nilda Dr Cathedral City, CA	3.0	2.0	1330	$2,495	$1.88	22d	1	0.69mi
68859 Paseo Real Cathedral City, CA	2.0	2.0	1406	$3,960	$2.82	16d	1	0.70mi
68859 Paseo Real Cathedral City, CA	2.0	2.0	1406	$3,960	$2.82	44d	1	0.70mi
68695 F St Cathedral City, CA	3.0	2.5	896	$2,500	$2.79	44d	1	0.75mi
35200 Cathedral Canyon Dr Unit H64 Cathedral City, CA	2.0	2.0	1375	$2,500	$1.82	44d	1	0.86mi
34750 Marcia Rd Unit 02 Cathedral City, CA	3.0	2.0	1325	$2,000	$1.51	19d	1	0.87mi
35200 Cathedral Canyon Dr Unit B10 Cathedral City, CA	2.0	2.0	1384	$2,600	$1.88	44d	1	0.93mi
70170 Sun Valley Dr Rancho Mirage, CA	2.0	2.0	1368	$3,800	$2.78	5d	1	1.03mi
37800 Da Vall Dr #12 Rancho Mirage, CA	2.0	2.0	1387	$2,400	$1.73	44d	1	1.03mi
69180 Victoria Dr #8 Cathedral City, CA	3.0	2.0	1230	$1,995	$1.62	4d	1	1.06mi
8 Mission Ct Rancho Mirage, CA	2.0	2.0	1540	$2,500	$1.62	19d	1	1.12mi
69646 Antonia Way Rancho Mirage, CA	2.0	2.0	966	$2,450	$2.54	19d	1	1.14mi
35090 Mission Hills Dr Rancho Mirage, CA	2.0	2.0	1596	$3,950	$2.47	25d	1	1.14mi
38 Mission Ct Rancho Mirage, CA	3.0	3.0	1382	$3,500	$2.53	44d	1	1.15mi
35082 Mission Hills Dr Rancho Mirage, CA	2.0	2.5	1624	$3,250	$2.00	13d	1	1.15mi
69603 Heather Way Rancho Mirage, CA	3.0	2.0	1218	$2,300	$1.89	44d	1	1.16mi
35 Mission Ct Rancho Mirage, CA	3.0	2.0	1382	$4,125	$2.98	44d	1	1.17mi
68615 Paseo Soria Cathedral City, CA	2.0	2.0	1462	$3,500	$2.39	8d	1	1.17mi
34361 Denise Way Rancho Mirage, CA	3.0	2.0	1400	$2,800	$2.00	44d	1	1.18mi
69155 Dinah Shore Dr Cathedral City, CA	2.0	2.0	1100	$1,795	$1.63	44d	1	1.20mi
69155 Dinah Shore Dr Apt 20 Cathedral City, CA	2.0	2.0	1200	$2,050	$1.71	44d	1	1.22mi
35054 Mission Hills Dr Rancho Mirage, CA	2.0	2.0	1396	$2,549	$1.83	5d	1	1.23mi
34073 Emily Way Rancho Mirage, CA	2.0	2.0	966	$2,100	$2.17	19d	1	1.29mi
34073 Emily Way Rancho Mirage, CA	2.0	2.0	966	$2,100	$2.17	22d	1	1.29mi
34071 Denise Way Rancho Mirage, CA	3.0	2.0	1218	$2,599	$2.13	25d	1	1.30mi
34197 Calle Mora Cathedral City, CA	2.0	2.0	1171	$2,300	$1.96	22d	1	1.32mi
34197 Calle Mora Cathedral City, CA	2.0	2.0	1171	$2,300	$1.96	11d	1	1.32mi
34197 Calle Mora Cathedral City, CA	2.0	2.0	1171	$2,300	$1.96	14d	1	1.32mi
70100 Mirage Cove Dr #10 Rancho Mirage, CA	3.0	2.0	1570	$3,000	$1.91	44d	1	1.34mi
68368 Calle Leon Cathedral City, CA	2.0	2.0	1406	$3,790	$2.70	44d	1	1.41mi
68368 Calle Leon Cathedral City, CA	2.0	2.0	1406	$3,790	$2.70	16d	1	1.41mi
68177 Mountain View Rd Cathedral City, CA	2.0	2.0	1394	$2,895	$2.08	44d	1	1.42mi

HOA detail

• Monthly dues: $1 · $12/yr
• Likely covers: security

Listing history 26 events

1. 2026-05-08
   listed $2,100
2. 2026-05-07
   listed $125,000 Active 1420-char remark
3. 2024-04-13
   status Active
4. 2024-04-12
   historical
5. 2024-03-19
   price $179,500
6. 2024-03-18
   status Active
7. 2024-03-17
   historical
8. 2024-02-26
   listed $197,500 Active
9. 2023-06-29
   listed $165,000 Active
10. 2023-06-28
    historical
11. 2023-03-29
    price $179,900
12. 2023-03-22
    price $185,000
13. 2023-03-22
    status Active
14. 2023-03-18
    historical
15. 2023-03-03
    price $189,500
16. 2023-02-07
    listed $195,000 Active
17. 2022-09-20
    price $185,000
18. 2022-09-13
    price $189,900
19. 2022-09-06
    status Active
20. 2022-08-31
    historical
21. 2022-08-26
    listed $195,000 Active
22. 2022-06-16
    historical
23. 2022-06-09
    listed $190,000 Active
24. 2020-08-31
    soldstatus $57,000 Sold
25. 2020-07-31
    historical Backup Offers Accepted
26. 2020-06-26
    listed $59,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $418 · $35/mo
• Projected year-2 tax: $950 · $79/mo
• Expected delta: +$532/yr (+$44/mo · 127.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥113°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,509
• − Mortgage interest: −$7,002
• − Property taxes: −$418
• − Insurance: −$625
• − Repairs & maintenance: −$2,601
• − Management: −$2,601
• − HOA: −$12
• − Depreciation: −$3,636
• Taxable income: $15,614
• Est. tax owed @ 24.0%: −$3,747
• After-tax cash flow: $13,013/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Palm Springs Unified
• NCES district ID: 0629550
• Math proficiency: 21% ▼ -7.00%
• Reading proficiency: 42% ▬ 0.00%
• Median HH income: $43,638
• Composite: 26.76/100
• National rank: #7131
• State rank: #328 of 517 in CA

Livability — Cathedral City

• Score: 66/100
• State rank: #344
• US rank: #11749

Category grades

Amenities D- Commute A+ Cost of living F Crime B- Employment D+ Housing B+ Health & safety F User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cathedral City, CA
• County: Riverside County · 2,287,001 people
• City population: 52,267
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 52,267
• Household income: $73,572
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 1682.0

Population outlook (Riverside County) Hauer SSP2

• Today (2025): 2,664,475 people
• By 2030: 2,802,692 · +5.2%
• By 2040: 3,050,904 · +14.5%
• By 2050: 3,256,783 · +22.2%
• By 2075: 3,655,058 · +37.2%
• By 2100: 3,766,594 · +41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 59% White 30% Two or more races 27% Asian 6% Native American 2% Black 2%
• Hispanic origin (detail): Mexican 51%
• Common ancestry: Lithuanian 2% Romanian 1% Italian 1%
• Foreign-born: 28% · Canada, Vietnam
• Languages at home: 48% English-only · Spanish 46% Tagalog/Filipino 3% Other Asian/Pacific 1%

Political lean MEDSL · Riverside

• 2024 margin: Toss-up / Even · D 48.0% · R 49.3% · Other 2.6%
• 2008→2024 swing: -3.6pp toward R · 2008: 2.3pp · 2024: -1.3pp
• All cycles: 2024: R+1.3 2020: D+8.0 2016: D+4.3 2012: R+0.4 2008: D+2.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -136.57%
• Current HPI: 356.9845
• Rent YoY: ▲ 3.22%
• Metro: Riverside-San Bernardino-Ontario, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

-96.5% since first listed

28 events — show timeline

• 2026-05-25 Listing Removed — GPSMLS
• 2026-05-19 Rental Removed $2,100 CRMLS
• 2026-05-08 Listed for Rent $2,100 CRMLS
• 2026-05-07 Listed $125,000 GPSMLS
• 2024-04-13 Relisted — GPSMLS
• 2024-04-12 Listing Removed — GPSMLS
• 2024-03-19 Price Changed $179,500 GPSMLS
• 2024-03-18 Relisted — GPSMLS
• 2024-03-17 Listing Removed — GPSMLS
• 2024-02-26 Listed $197,500 GPSMLS
• 2023-06-29 Listed $165,000 GPSMLS
• 2023-06-28 Listing Removed — GPSMLS
• 2023-03-29 Price Changed $179,900 GPSMLS
• 2023-03-22 Price Changed $185,000 GPSMLS
• 2023-03-22 Relisted — GPSMLS
• 2023-03-18 Listing Removed — GPSMLS
• 2023-03-03 Price Changed $189,500 GPSMLS
• 2023-02-07 Listed $195,000 GPSMLS
• 2022-09-20 Price Changed $185,000 GPSMLS
• 2022-09-13 Price Changed $189,900 GPSMLS
• 2022-09-06 Relisted — GPSMLS
• 2022-08-31 Listing Removed — GPSMLS
• 2022-08-26 Listed $195,000 GPSMLS
• 2022-06-16 Listing Removed — GPSMLS
• 2022-06-09 Listed $190,000 GPSMLS
• 2020-08-31 Sold (MLS) $57,000 TheMLS
• 2020-07-31 Contingent — TheMLS
• 2020-06-26 Listed $59,900 TheMLS

Property tax history

+3.3%/yr

Latest (2025): $418 · +20.6% YoY. Source: county tax records.