78250 Cortez Ln #139 · Indian Wells, CA 92210

$265,000

1 bd · 1.0 ba · 576 sqft · Condo public records · 40 Days on market

Built 1972 $460/sqft · 9% below area Est $291k · 9% under $265/mo HOA · 7% of rent

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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 +29.9/30.0
• ARV discount +11.5/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• 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

Fee simple Mountain Cove gem in Clubview HOA! This outstanding condo at 78250 Cortez Lane, Unit 139, sits on true fee simple land--no land lease like most in the community--delivering maximum value and peace of mind. Perfectly located with easy access to the Indian Wells Tennis Gardens, and centrally located between El Paseo and Old Town La Quinta, this property allows short-term rentals with a 7-day minimum, creating excellent income potential. As an Indian Wells owner, you'll enjoy the exclusive Resident Benefits Card with its premium city perks including deeply discounted golf, 20% off at many restaurants and free tickets to the tennis tournament, hockey games and other events. Set in a

Key facts

• Gated enclave
• Fee simple land
• Short-term rentals

Tags

• FEE SIMPLE LAND
• SHORT-TERM RENTALS
• GATED ENCLAVE
• MOUNTAIN VIEWS

Property features AI

Finance

• Other: Fee simple land
• Financial info: Accepts Conventional and Cash offers; Short-term rentals allowed; Will not consider lease
• HOA & community: HOA dues $265 monthly; Association amenities listed as other; Gated community

Exterior

• Parking: 2 total parking spaces (unassigned, uncovered)
• Security: Card/code access; Gated community
• Utilities: Sewer connected and paid; Not a PUD
• Home design: Condominium, attached; Two-story building; One level unit
• Construction: Assessor-sourced year built; Gunite pool
• Exterior features: Gated community; Card/code access; Community pool (gunite construction); Mountain view

Interior

• Bedrooms: Other room(s)
• Flooring: Tile flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Air conditioning
• Interior features: Unfurnished; No fireplace

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $265k.

Deal economics

• At list price, monthly cash flow is $978 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $265k).
• Recommended offer: $257k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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+, schools B+, 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.
• 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 $12k of equity ($2k loan paydown + $10k 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 $74k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y 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.
• Current owner paid $66k; list at $265k implies a 302% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $257,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.47% ✓
• Cap rate: 10.72%
• Cash-on-cash: 15.82%
• DSCR: 1.70
• GRM: 5.7

CMA / ARV

• ARV (median comp): $291,193
• List price: $265,000
• Delta: -9.00%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 24.0%
• Equity multiple: 2.42×
• Total profit: $105,248
• Equity at exit: $130,638

10-year hold

• IRR: 24.3%
• Equity multiple: 4.70×
• Total profit: $274,771
• Equity at exit: $210,753

Cash invested: $74,200 (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: 5.7×

Monthly cashflow live

• Estimated rent: $3,899 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$337 /mo · $4,040/yr
• Insurance: −$110
• HOA: −$265
• Vacancy / Maint / Mgmt: −$819
• Net cashflow: $978

Break-even live

Break-even rent $2,660

Max offer price $265,000

Occupancy floor 70%

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
78200 Cortez Ln #149 Indian Wells, CA	1.0	1.0	576	$2,200	$3.82	43d	1	0.01mi
78155 Cabrillo Ln #37 Indian Wells, CA	1.0	1.0	576	$3,500	$6.08	43d	1	0.03mi
78130 Cortez Ln Indian Wells, CA	1.0–2.0	1.0–2.0	874	$2,600	$2.97	43d	2	0.05mi
78490 Via Palomino Unit 101 La Quinta, CA	1.0	1.0	560	$1,800	$3.21	43d	1	1.17mi

HOA detail condo

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

Listing history 22 events

1. 2026-06-18
   days on market $265,000 Active 40 DOM
2. 2026-06-17
   days on market $265,000 Active 39 DOM
3. 2026-06-16
   days on market $265,000 Active 38 DOM
4. 2026-06-15
   days on market $265,000 Active 37 DOM
5. 2026-06-13
   days on market $265,000 Active 35 DOM
6. 2026-06-09
   days on market $265,000 Active 31 DOM
7. 2026-06-08
   days on market $265,000 Active 30 DOM
8. 2026-06-07
   days on market $265,000 Active 29 DOM
9. 2026-06-04
   days on market $265,000 Active 26 DOM
10. 2026-06-03
    days on market $265,000 Active 25 DOM
11. 2026-06-02
    days on market $265,000 Active 24 DOM
12. 2026-06-01
    days on market $265,000 Active 23 DOM
13. 2026-05-31
    days on market $265,000 Active 22 DOM
14. 2026-05-09
    listed $265,000 Active 911-char remark
15. 2025-03-06
    historical $1,700
16. 2025-02-05
    listed $1,700
17. 2003-08-18
    soldstatus $66,000
18. 2003-07-15
    historical
19. 2003-02-10
    listed $69,500
20. 2001-01-14
    historical
21. 2000-06-06
    listed $64,444
22. 1999-09-20
    soldstatus $1,914,000

ⓘ 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: $4,040 · $337/mo
• Projected year-2 tax: $4,040 · $337/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 6 d/yr ≥114°F today · 15 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: $46,785
• − Mortgage interest: −$14,844
• − Property taxes: −$4,040
• − Insurance: −$1,325
• − Repairs & maintenance: −$3,743
• − Management: −$3,743
• − HOA: −$3,180
• − Depreciation: −$7,709
• Taxable income: $8,201
• Est. tax owed @ 24.0%: −$1,968
• After-tax cash flow: $9,771/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

-86.2% since first listed

9 events — show timeline

• 2026-05-09 Listed $265,000 GPSMLS
• 2025-03-06 Rental Removed $1,700 CRMLS
• 2025-02-05 Listed for Rent $1,700 CRMLS
• 2003-08-18 Sold (Public Records) $66,000 Public Records
• 2003-07-15 Listing Removed — GPSMLS
• 2003-02-10 Listed $69,500 GPSMLS
• 2001-01-14 Listing Removed — GPSMLS
• 2000-06-06 Listed $64,444 GPSMLS
• 1999-09-20 Sold (Public Records) $1,914,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $4,040 · +2.6% YoY. Source: county tax records.