203 Desert Falls Dr E · Palm Desert, CA 92211

$350,000

2 bd · 2.0 ba · 1,330 sqft · Condo public records · 24 Days on market

Built 1988 $871/mo HOA · 18% of rent

---

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 +24.4/30.0
• 1% rule +8.9/10.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• Schools +3.8/10.0
• Livability +2.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Single Story unit!!!! Welcome to 203 Desert Falls Drive E, a beautifully maintained turnkey furnished 2 bedroom, 2 bathroom condo located inside the highly desirable Desert Falls Country Club in Palm Desert. Priced at only $350,000, this home offers an incredible opportunity for a full-time residence, seasonal getaway, or investment property. This light and bright condo features an open floor plan, spacious living areas, and move-in ready furnishings, allowing the next owner to immediately enjoy the desert lifestyle or begin generating rental income. Desert Falls Country Club allows short-term rentals, making this an attractive opportunity for investors seeking STR potential in a prime Palm

Key facts

• Gated community
• Turnkey furnished
• Centrally located

Tags

• TURNKEY FURNISHED
• DESERT FALLS COUNTRY CLUB
• SHORT-TERM RENTALS
• RESORT-STYLE AMENITIES
• GATED COMMUNITY
• CENTRALLY LOCATED

Property features AI

Finance

• Other: Short-term rentals allowed; Listing terms include Conventional, Fannie Mae, FHA, and Cash; CC&R disclosures
• HOA & community: Monthly HOA fee of $871; HOA covers building & grounds, utilities, trash, sewer, security, insurance, cable TV, clubhouse; Community amenities include clubhouse, fitness center, banquet facilities, recreation room, tennis courts, sport court, paddle tennis, pickleball courts, guest parking, golf course and lake/pond; development has golf course

Exterior

• Parking: Attached garage with 2 spaces; 2 total parking spaces; Driveway parking; On-street parking
• Security: Gated community with 24-hour security
• Utilities: Sewer: in-street paid; Cable TV available
• Home design: Condominium, attached; Single-story (ground level, no unit above)
• Construction: Clay tile roof; Year built: other source
• Exterior features: Clay tile roof; Concrete slab patio; Built-in gas BBQ; Sprinkler system and drip irrigation; Community pool (in-ground); Community heated spa (in-ground); Mountain views; Fee simple land

Interior

• Kitchen: Granite counters; Gas cooktop; Gas range; Microwave; Refrigerator; Dishwasher
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Air conditioning
• Interior features: Ground-level no-step entry; Fully furnished; Living room with gas-log fireplace (1)
• Laundry & utility: Washer; Dryer; Laundry in a dedicated room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $350k.

Deal economics

• At list price, monthly cash flow is $709 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $350k).
• Recommended offer: $345k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.4% in Palm Desert — 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 51/100 on livability (#1,050 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment B+, housing B; Watch: crime D, amenities F, commute 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: James Earl Carter Elementary (516 students, 53% FRL); Colonel Mitchell Paige Middle (math 10% / reading 10%, grade F, #474 of 498 statewide, top 99%, 436 students, 74% FRL); Palm Desert High (math 42% / reading 67%, grade C-, #256 of 1,170 statewide, top 24%, 2,050 students, 57% FRL).
• Market conditions: Rents soft (-0.3%/yr); 636 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 78% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• At $4,859/mo this rent would consume 66% of the median local household income ($88k/yr) (locally 1181% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $132k; list at $350k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 5→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $344,750 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.39% ✓
• Cap rate: 8.72%
• Cash-on-cash: 8.68%
• DSCR: 1.39
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.74×
• Total profit: $-25,296
• Equity at exit: $52,186

10-year hold

• IRR: -3.1%
• Equity multiple: 0.83×
• Total profit: $-16,850
• Equity at exit: $30,262

Cash invested: $98,000 (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 92211

• Rents YoY: -0.3%
• Active inventory: 636
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $4,859 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$277 /mo · $3,329/yr
• Insurance: −$146
• HOA: −$871
• Vacancy / Maint / Mgmt: −$1,020
• Net cashflow: $709

Break-even live

Break-even rent $3,962

Max offer price $350,000

Occupancy floor 80%

Sensitivity live

Price	-10% $907	-5% $808	+0% $709	+5% $610	+10% $511
Rent	-10% $325	-5% $517	+0% $709	+5% $901	+10% $1,093
Rate	-1.0pp $885	-0.5pp $798	base $709	+0.5pp $618	+1.0pp $526

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
199 Desert Falls Dr E Palm Desert, CA	2.0	2.0	1330	$6,200	$4.66	45d	1	0.03mi
216 Desert Falls Dr E Palm Desert, CA	2.0	2.0	1330	$3,250	$2.44	45d	1	0.03mi
207 Desert Falls Cir Palm Desert, CA	2.0	2.0	1330	$6,200	$4.66	45d	1	0.04mi
156 Falls Ct Palm Desert, CA	3.0	2.5	1814	$6,000	$3.31	45d	1	0.08mi
189 Desert Falls Cir Palm Desert, CA	2.0	2.5	1814	$6,500	$3.58	45d	1	0.09mi
187 Desert Falls Cir Palm Desert, CA	3.0	2.5	1814	$5,999	$3.31	45d	1	0.09mi
182 Desert Falls Cir Palm Desert, CA	2.0	2.0	1330	$6,200	$4.66	45d	1	0.09mi
139 Villa Ct Palm Desert, CA	2.0	2.0	1330	$6,200	$4.66	45d	1	0.12mi
164 Desert Falls Dr E Palm Desert, CA	2.0	2.0	1330	$3,000	$2.26	45d	1	0.14mi
127 Villa Ct Palm Desert, CA	2.0	2.0	1330	$6,800	$5.11	45d	1	0.15mi
160 Desert Falls Cir Palm Desert, CA	2.0	2.0	1330	$4,000	$3.01	3d	1	0.15mi
272 Desert Falls Dr E Palm Desert, CA	2.0	2.0	1330	$6,250	$4.70	45d	1	0.22mi
136 Desert Falls Dr E Palm Desert, CA	3.0	2.5	1814	$3,200	$1.76	45d	1	0.23mi
221 Vista Royale Cir E Palm Desert, CA	2.0	2.0	1360	$5,900	$4.34	26d	1	0.29mi
221 Vista Royale Cir W Palm Desert, CA	2.0	2.5	1360	$5,900	$4.34	26d	1	0.31mi
38941 Kilimanjaro Dr Palm Desert, CA	2.0	2.0	1731	$7,000	$4.04	45d	1	0.34mi
270 Vista Royale Cir E Palm Desert, CA	3.0	2.5	1814	$3,250	$1.79	45d	1	0.35mi
270 Vista Royale Cir E Palm Desert, CA	3.0	2.5	1814	$3,250	$1.79	7d	1	0.35mi
237 Vista Royale Cir W Palm Desert, CA	3.0	2.5	1814	$6,200	$3.42	45d	1	0.35mi
248 Vista Royale Cir W Palm Desert, CA	2.0	2.0	1330	$4,999	$3.76	45d	1	0.36mi
274 Vista Royale Cir E Palm Desert, CA	3.0	2.5	1814	$2,900	$1.60	26d	1	0.37mi
117 Trento Cir Palm Desert, CA	2.0	2.0	1157	$5,500	$4.75	45d	1	0.38mi
321 Bouquet Canyon Dr Palm Desert, CA	3.0	2.0	1818	$2,995	$1.65	4d	1	0.38mi
116 Avellino Cir Palm Desert, CA	2.0	2.0	1426	$6,200	$4.35	45d	1	0.41mi
259 Vista Royale Cir W Palm Desert, CA	2.0	2.0	1330	$5,600	$4.21	45d	1	0.41mi
319 Vista Royale Dr Palm Desert, CA	3.0	2.5	1814	$2,900	$1.60	45d	1	0.45mi
107 Avellino Cir Palm Desert, CA	2.0	2.0	1528	$5,900	$3.86	45d	1	0.46mi
101 Avellino Cir Palm Desert, CA	2.0	2.0	1500	$3,000	$2.00	23d	1	0.48mi
781 Montana Vista Dr Palm Desert, CA	2.0	2.0	1330	$6,000	$4.51	45d	1	0.48mi
38780 Tandika Trl N Palm Desert, CA	2.0	2.0	1815	$3,900	$2.15	45d	1	0.49mi
100 Brandigo Cir Palm Desert, CA	2.0	2.0	1609	$4,500	$2.80	22d	1	0.50mi
709 Vista Lago Cir N Palm Desert, CA	2.0	2.0	1360	$2,700	$1.99	45d	1	0.50mi
778 Montana Vista Dr Palm Desert, CA	3.0	2.5	1814	$6,500	$3.58	45d	1	0.51mi
39856 Narcissus Way Palm Desert, CA	1.0	2.0	1000	$2,695	$2.69	45d	1	0.53mi
39856 Narcissus Way Palm Desert, CA	1.0	1.5	1000	$2,495	$2.50	26d	1	0.53mi
726 Vista Lago Dr N Palm Desert, CA	3.0	2.5	1814	$4,900	$2.70	45d	1	0.55mi
413 Desert Falls Dr N Palm Desert, CA	2.0	2.0	1330	$6,200	$4.66	45d	1	0.59mi
651 Vista Lago Cir N Palm Desert, CA	2.0	2.0	1330	$5,700	$4.29	45d	1	0.61mi
491 Desert Falls Dr N Palm Desert, CA	2.0	2.0	1360	$6,500	$4.78	45d	1	0.62mi
432 Desert Falls Dr N Palm Desert, CA	3.0	2.5	1814	$4,800	$2.65	45d	1	0.64mi

HOA detail condo

• Monthly dues: $871 · $10,452/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   statusdays on market $350,000 Pending 24 DOM
2. 2026-06-18
   days on market $350,000 Active 22 DOM
3. 2026-06-17
   days on market $350,000 Active 21 DOM
4. 2026-06-16
   days on market $350,000 Active 20 DOM
5. 2026-06-15
   days on market $350,000 Active 19 DOM
6. 2026-06-13
   days on market $350,000 Active 17 DOM
7. 2026-06-09
   days on market $350,000 Active 13 DOM
8. 2026-06-08
   days on market $350,000 Active 12 DOM
9. 2026-06-07
   days on market $350,000 Active 11 DOM
10. 2026-06-04
    days on market $350,000 Active 8 DOM
11. 2026-06-03
    days on market $350,000 Active 7 DOM
12. 2026-06-02
    days on market $350,000 Active 6 DOM
13. 2026-06-01
    days on market $350,000 Active 5 DOM
14. 2026-05-31
    days on market $350,000 Active 4 DOM
15. 2026-05-12
    listed $350,000 Active
16. 1991-12-09
    soldstatus $132,000

ⓘ 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: $3,329 · $277/mo
• Projected year-2 tax: $3,329 · $277/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 5 d/yr ≥114°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $58,307
• − Mortgage interest: −$19,605
• − Property taxes: −$3,329
• − Insurance: −$1,750
• − Repairs & maintenance: −$4,665
• − Management: −$4,665
• − HOA: −$10,452
• − Depreciation: −$10,182
• Taxable income: $3,660
• Est. tax owed @ 24.0%: −$878
• After-tax cash flow: $7,628/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 — Palm Desert

• Score: 51/100
• State rank: #1050
• US rank: #25164

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Desert, CA
• County: Riverside County · 2,287,001 people
• City population: 58,615
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 28,092
• Household income: $88,477
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 1181.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 16% Two or more races 11% Asian 4% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Scotch-Irish 3% Slovak 3% Romanian 3%
• Foreign-born: 16% · Canada, China
• Languages at home: 85% English-only · Spanish 9% Other Indo-European 2% 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: ▼ -166.92%
• Current HPI: 233.4619
• Rent YoY: ▼ -0.30%
• 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

+165.2% since first listed

2 events — show timeline

• 2026-05-12 Listed $350,000 GPSMLS
• 1991-12-09 Sold (Public Records) $132,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $3,329 · +3.3% YoY. Source: county tax records.