2109 Via Calderia

Palm Desert, CA 92260

$325,000D

2 bd · 2.0 ba · 1,278 sqft · Built 2015 · Townhouse · Active · 183 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,555/mo
• Mortgage (P&I): −$1,704
• Tax + insurance: −$542
• HOA: −$1,065
• Vac / Maint / Mgmt: −$747
• Net cashflow: $-503/mo
• Annual: $-6,032/yr
• Cap rate: 4.44%
• Cash-on-cash: -6.63%
• DSCR: 0.71
• 1% rule: 1.09%
• Cash to close: $91,000

Investor read

• This is a 2-bed/2.0-bath townhouse listed at $325k. Condition is rated fair.
• At list price, monthly cash flow is $-503 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $252k (22.4% below list).
• Meets the 1% rule at list price ($4k rent vs $325k).
• It's been on market 183 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $252k (22.4% below list) — sets the bar for cash-flow.
• 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.
• 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).
• Watch-outs: HOA is 30% of rent.
• Market conditions: Rents rising (+1.6%/yr); 744 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 120d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 95% 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).
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $35k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• 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.
• Cap rate 4.4% vs local median 3.2% 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.
• At $3,555/mo this rent would consume 61% of the median local household income ($70k/yr) (locally 17% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 183 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?

Repairs flagged (vision-AI assessment)

• Moderate: Exterior siding — Weathered and discoloration
• Moderate: Flooring — Worn and needs replacement
• Moderate: Interior walls/paint — Faded and needs repainting