81 Panorama · Desert Shores, CA 92274

$325,000

6 bd · 5.0 ba · 6,038 sqft · MultiFamily · 57 Days on market

Built 1965 6,038 sqft lot

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Why this score? — see what drove the B 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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Livability +1.4/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Rare Multi-Property Investment Opportunity – 2 Adjacent Income-Producing Properties Near Salton Sea! Don’t miss this unique opportunity to acquire two side-by-side income properties offering strong cash flow and long-term upside. 81 Panorama Dr features 4 studio units plus a 2-bedroom, 1-bath unit, totaling 6 bedrooms, along with 4 separate electric meters. 83 Panorama Dr includes one 2-bedroom, 1-bath unit, one 1-bedroom, 1-bath unit, and one studio unit, serviced by 1 electric meter. Combined, this portfolio delivers a diverse unit mix ideal for maximizing occupancy and rental income across multiple tenant profiles. Located near the Salton Sea, a well-known tourist destination, and within close proximity to casinos, golf courses, and major local employers, these properties are perfectly positioned for employee housing and long-term rentals. High demand from workers in nearby hospitality, service, and resort industries makes this an attractive and stable income investment. Ideal for investors looking to scale their portfolio with a multi-property acquisition, or for owner-users seeking to live in one unit while generating income from the rest. Opportunities like this—two adjacent, income-producing properties—are rare. Don’t miss out!

Key facts

• Diverse unit mix
• Proximity to casinos
• Long-term rentals

Tags

• DIVERSE UNIT MIX
• PROXIMITY TO CASINOS
• PROXIMITY TO GOLF COURSES
• LONG-TERM RENTALS
• HIGH DEMAND FROM WORKERS
• ATTRACTIVE INCOME INVESTMENT

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $644/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).
• Recommended offer: $315k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 28/100 on livability (#1,479 in CA) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: crime A; Watch: cost of living D, schools F, amenities F.
• Coachella Valley Unified (rural): math 12% / reading 23% proficiency, ranked #481 of 517 in CA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 492 active listings in the ZIP; 271 units permitted in Imperial County in 2024 (112 in 5+ unit buildings).

Forward outlook

• In year one you build about $35k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Imperial County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $91k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago; this cycle's ask has dropped $25k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $325k implies a 364% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $315,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.37% ✓
• Cap rate: 11.05%
• Cash-on-cash: 16.98%
• DSCR: 1.76
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.9%
• Equity multiple: 3.85×
• Total profit: $259,067
• Equity at exit: $292,786

10-year hold

• IRR: 31.8%
• Equity multiple: 8.68×
• Total profit: $698,543
• Equity at exit: $631,404

Cash invested: $91,000 (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 92274

• Home prices YoY: 31.9%
• Active inventory: 492
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $4,459 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$395 /mo · $4,744/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$936
• Net cashflow: $1,288

Break-even live

Break-even rent $2,829

Max offer price $325,000

Occupancy floor 66%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$4,460
Total (2 units)			$4,459

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $325,000 Active 57 DOM
2. 2026-06-17
   days on market $325,000 Active 56 DOM
3. 2026-06-16
   days on market $325,000 Active 55 DOM
4. 2026-06-15
   days on market $325,000 Active 54 DOM
5. 2026-06-13
   days on market $325,000 Active 52 DOM
6. 2026-06-13
   days on market $325,000 Active 51 DOM
7. 2026-06-09
   days on market $325,000 Active 48 DOM
8. 2026-06-08
   days on market $325,000 Active 47 DOM
9. 2026-06-07
   days on market $325,000 Active 46 DOM
10. 2026-06-04
    days on market $325,000 Active 43 DOM
11. 2026-06-03
    days on market $325,000 Active 42 DOM
12. 2026-06-02
    days on market $325,000 Active 41 DOM
13. 2026-06-01
    days on market $325,000 Active 40 DOM
14. 2026-05-31
    days on market $325,000 Active 39 DOM
15. 2026-04-22
    listed $350,000 Active 1287-char remark

    Show marketing remark (1287 chars)

    Rare Multi-Property Investment Opportunity – 2 Adjacent Income-Producing Properties Near Salton Sea! Don’t miss this unique opportunity to acquire two side-by-side income properties offering strong cash flow and long-term upside. 81 Panorama Dr features 4 studio units plus a 2-bedroom, 1-bath unit, totaling 6 bedrooms, along with 4 separate electric meters. 83 Panorama Dr includes one 2-bedroom, 1-bath unit, one 1-bedroom, 1-bath unit, and one studio unit, serviced by 1 electric meter. Combined, this portfolio delivers a diverse unit mix ideal for maximizing occupancy and rental income across multiple tenant profiles. Located near the Salton Sea, a well-known tourist destination, and within close proximity to casinos, golf courses, and major local employers, these properties are perfectly positioned for employee housing and long-term rentals. High demand from workers in nearby hospitality, service, and resort industries makes this an attractive and stable income investment. Ideal for investors looking to scale their portfolio with a multi-property acquisition, or for owner-users seeking to live in one unit while generating income from the rest. Opportunities like this—two adjacent, income-producing properties—are rare. Don’t miss out!

16. 2025-10-16
    historical
17. 2025-04-24
    listed $715,000 Active
18. 2021-07-01
    historical
19. 2021-03-26
    listed $299,000
20. 2020-10-07
    historical
21. 2019-10-23
    historical
22. 2019-09-26
    listed $220,000
23. 2019-09-24
    historical Hold
24. 2019-09-06
    listed $330,000 Active
25. 2014-07-17
    listed $130,000
26. 2014-04-04
    soldstatus $70,000
27. 1991-05-06
    soldstatus $48,000

ⓘ 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: $4,744 · $395/mo
• Projected year-2 tax: $4,744 · $395/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥114°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,508
• − Mortgage interest: −$18,205
• − Property taxes: −$4,744
• − Insurance: −$1,625
• − Repairs & maintenance: −$4,281
• − Management: −$4,281
• − Depreciation: −$9,455
• Taxable income: $10,918
• Est. tax owed @ 24.0%: −$2,620
• After-tax cash flow: $12,830/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: Coachella Valley Unified
• NCES district ID: 0609070
• Math proficiency: 12% ▼ -8.00%
• Reading proficiency: 23% ▼ -6.00%
• Median HH income: $37,683
• Composite: 14.62/100
• National rank: #9408
• State rank: #481 of 517 in CA

Livability — Desert Shores

• Score: 28/100
• State rank: #1479
• US rank: #27964

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Desert Shores, CA
• Population (ZIP): 17,909

Population outlook (Imperial County) Hauer SSP2

• Today (2025): 186,713 people
• By 2030: 190,022 · +1.8%
• By 2040: 195,993 · +5.0%
• By 2050: 199,534 · +6.9%
• By 2075: 216,878 · +16.2%
• By 2100: 352,705 · +88.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (88%)
• Race & ethnicity: Hispanic / Latino 88% Two or more races 49% White 10%
• Hispanic origin (detail): Mexican 87%
• Common ancestry: Italian 1% Portuguese 1%
• Foreign-born: 42% · Canada
• Languages at home: 24% English-only · Spanish 76%

Political lean MEDSL · Imperial

• 2024 margin: Toss-up / Even · D 48.3% · R 49.1% · Other 2.6%
• 2008→2024 swing: -27.0pp toward R · 2008: 26.2pp · 2024: -0.9pp
• All cycles: 2024: R+0.9 2020: D+24.4 2016: D+41.1 2012: D+28.8 2008: D+26.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 179.97%
• Current HPI: 744.8454
• Rent YoY: —
• Metro: —
• 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

+629.2% since first listed

13 events — show timeline

• 2026-04-22 Listed $350,000 CRMLS
• 2025-10-16 Listing Removed — GPSMLS
• 2025-04-24 Listed $715,000 GPSMLS
• 2021-07-01 Listing Removed — GPSMLS
• 2021-03-26 Listed $299,000 GPSMLS
• 2020-10-07 Listing Removed — GPSMLS
• 2019-10-23 Listing Removed — GPSMLS
• 2019-09-26 Listed $220,000 GPSMLS
• 2019-09-24 Delisted — GPSMLS
• 2019-09-06 Listed $330,000 GPSMLS
• 2014-07-17 Listed $130,000 GPSMLS
• 2014-04-04 Sold (Public Records) $70,000 Public Records
• 1991-05-06 Sold (Public Records) $48,000 Public Records

Property tax history

+8.3%/yr

Latest (2025): $4,744 · +3.6% YoY. Source: county tax records.