46855 Mountain Cove Dr #84 · Indian Wells, CA 92210

$319,900

1 bd · 1.0 ba · 576 sqft · Condo · 81 Days on market

Built 1972 $265/mo HOA · 7% of rent

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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 +23.5/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Appreciation +6.9/10.0
• Schools +3.8/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to Mountain Cove in Indian Wells! Tucked in the Santa Rosa Mountains. Stunning mountain views everywhere you look. Mature citrus trees, 3-outdoor pools (heated in the winter months). Community EV charge station. This stunningly remodeled and private, ground floor one bedroom has all new flooring, and GE appliances, including full washer/dryer. Recessed canned lighting with night light option. Mountain Cove allows Short-Term Rentals with a 7-day rental minimum, a great opportunity for a return on investment for a seasonal owner. All Indian Wells residents can enjoy exclusive perks - at the IW Club for a discounted rate, complimentary access to the Hyatt Regency gym, discounts at loca

Key facts

• Remodeled
• Mature citrus trees
• New flooring

Tags

• MOUNTAIN VIEWS
• MATURE CITRUS TREES
• OUTDOOR POOLS
• COMMUNITY EV CHARGE STATION
• REMODELED
• NEW FLOORING

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $320k.

Deal economics

• At list price, monthly cash flow is $596 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $320k).
• Recommended offer: $301k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 1.5% in Indian Wells — 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 53/100 on livability (#968 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, crime B+; Watch: amenities F, commute F, cost of living F.
• Desert Sands Unified (suburban): math 31% / reading 56% proficiency, ranked #199 of 517 in CA (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gerald R. Ford Elementary (math 24% / reading 24%, grade F, #973 of 1,571 statewide, top 73%, 603 students, 59% FRL); La Quinta High (math 31% / reading 65%, grade D, #380 of 1,170 statewide, top 33%, 2,500 students, 74% FRL).
• Market conditions: 147 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($2k loan paydown + $12k appreciation (3.8% local appreciation)).
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $90k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($301k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $300,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 8.53%
• Cash-on-cash: 7.98%
• DSCR: 1.36
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.76% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.9%
• Equity multiple: 2.00×
• Total profit: $89,736
• Equity at exit: $157,702

10-year hold

• IRR: 17.9%
• Equity multiple: 3.80×
• Total profit: $251,013
• Equity at exit: $254,414

Cash invested: $89,572 (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 92210

• Home prices YoY: 1.3%
• Active inventory: 147
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $3,888 medium
• Mortgage (P&I): −$1,678
• Tax est. 1.5%: −$400 /mo · $4,798/yr
• Insurance: −$133
• HOA: −$265
• Vacancy / Maint / Mgmt: −$816
• Net cashflow: $596

Break-even live

Break-even rent $3,134

Max offer price $319,900

Occupancy floor 80%

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: $79,975
• Closing costs: $9,597
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
78130 Cortez Ln Indian Wells, CA	1.0–2.0	1.0–2.0	874	$2,600	$2.97	43d	2	0.12mi
78200 Cortez Ln #149 Indian Wells, CA	1.0	1.0	576	$2,200	$3.82	43d	1	0.14mi
78155 Cabrillo Ln #37 Indian Wells, CA	1.0	1.0	576	$3,500	$6.08	43d	1	0.14mi
78490 Via Palomino Unit 101 La Quinta, CA	1.0	1.0	560	$1,800	$3.21	43d	1	1.32mi

HOA detail condo

• Monthly dues: $265 · $3,180/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-04-25
   status Pending
2. 2026-02-01
   listed $319,900 Active
3. 2026-01-01
   historical
4. 2025-08-01
   price $319,900
5. 2025-06-03
   price $330,000
6. 2025-05-13
   historical
7. 2025-05-02
   price $340,000
8. 2025-01-20
   listed $340,000 Active
9. 2025-01-12
   listed $350,000 Active
10. 2023-11-16
    historical
11. 2023-05-25
    listed $264,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥114°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,657
• − Mortgage interest: −$17,919
• − Property taxes: −$4,798
• − Insurance: −$1,600
• − Repairs & maintenance: −$3,733
• − Management: −$3,733
• − HOA: −$3,180
• − Depreciation: −$9,306
• Taxable income: $2,388
• Est. tax owed @ 24.0%: −$573
• After-tax cash flow: $6,577/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: Desert Sands Unified
• NCES district ID: 0611110
• Math proficiency: 31% ▼ -4.00%
• Reading proficiency: 56% ▲ 7.00%
• Median HH income: $54,957
• Composite: 37.77/100
• National rank: #4346
• State rank: #199 of 517 in CA

Livability — Indian Wells

• Score: 53/100
• State rank: #968
• US rank: #24559

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indian Wells, CA
• County: Riverside County · 2,287,001 people
• City population: 4,871
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 4,871
• Household income: $162,990
• Rent vs Own: 20.2% rent · 79.8% own
• Severe rent burden: 56.0

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: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 5% Two or more races 5% Asian 3% Black 3%
• Common ancestry: Slovak 5% Lithuanian 4% Romanian 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 92% English-only · Spanish 3% Russian/Polish/Slavic 1% Tagalog/Filipino 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: ▲ 3.76%
• Current HPI: 299.2632
• Rent YoY: —
• 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

+21.2% since first listed

11 events — show timeline

• 2026-04-25 Pending — GPSMLS
• 2026-02-01 Listed $319,900 GPSMLS
• 2026-01-01 Listing Removed — GPSMLS
• 2025-08-01 Price Changed $319,900 GPSMLS
• 2025-06-03 Price Changed $330,000 GPSMLS
• 2025-05-13 Listing Removed — GPSMLS
• 2025-05-02 Price Changed $340,000 GPSMLS
• 2025-01-20 Listed $340,000 GPSMLS
• 2025-01-12 Listed $350,000 GPSMLS
• 2023-11-16 Listing Removed — GPSMLS
• 2023-05-25 Listed $264,000 GPSMLS