488 Prairie · Cathedral City, CA 92234

$139,900

2 bd · 2.0 ba · 1,000 sqft · Manufactured public records · 47 Days on market

Built 1965 $140/sqft · 84% above area ↓ 7% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Royal Palms--where comfort, convenience, and easy desert living come together in this 55+ gated community. This fully furnished, turnkey home sits on a spacious oversized lot and features a large deck perfect for relaxing and enjoying beautiful mountain views. RV parking is also available for added flexibility. Inside, you'll find thoughtful upgrades throughout, including a remodeled kitchen with updated countertops and refreshed bathrooms. The home is equipped for year-round comfort with a new central air conditioner, an Eco air unit in the living room, and a Sam's Club evaporative cooler for added efficiency. Additional highlights include a new refrigerator, front-load washer a

Key facts

• Gated community
• Large deck
• Rv parking

Tags

• GATED COMMUNITY
• OVERSIZED LOT
• LARGE DECK
• MOUNTAIN VIEWS
• RV PARKING
• REMODELED KITCHEN

Property features AI

Finance

• Other: Park manager approval required; Park manager contact available
• Financial info: Land is lease; annual land lease amount listed; Rental restrictions apply; Listing terms: Cash or cash to new loan
• HOA & community: No monthly association fee; Senior community; Community features include dog park and pickleball courts; Gated community

Exterior

• Parking: Attached carport; 2 total parking spaces; 2 carport spaces
• Security: Gated community with card/code access
• Utilities: Mutual water source; Septic tank
• Home design: Single-level (one story); Double-wide mobile home; Entry facing other
• Construction: Built in 1965 (manufacture date); Mobile/manufactured construction; Double wide (20 ft x 50 ft)
• Exterior features: Detached property; Mountain view; Community pool (in-ground); Community spa (in-ground); Gated community; Card/Code access; Community access; Senior park (Royal Palms)

Interior

• Kitchen: Wall oven; Gas cooktop; Refrigerator; Microwave oven; Ceramic counters
• Flooring: Ceramic tile; Mixed flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air; Evaporative cooling; Ceiling fans
• Interior features: Furnished; Dining room; Living room; Covered patio
• Laundry & utility: Washer; Dryer; Laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.1% vs local median 5.1% in Cathedral City — 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 66/100 on livability (#344 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing B+; Watch: employment D+, schools F, amenities D-.
• Palm Springs Unified (suburban): math 21% / reading 42% proficiency, ranked #328 of 517 in CA (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.2%/yr); 525 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).
• This rent runs 41% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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.

Recommended offer $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 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 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.80% ✓
• Cap rate: 15.09%
• Cash-on-cash: 31.41%
• DSCR: 2.40
• GRM: 4.6

CMA / ARV

• ARV (median comp): $75,962
• List price: $139,900
• Delta: 84.17%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
438 Butterfield	0.04mi	2/2.0	1,000 (0%)	1mo	$56,000	$56	97
454 Little Deer	0.09mi	2/1.0	960 (-4%)	2mo	$56,000	$58	84
34 Coble Dr	0.10mi	2/2.0	1,056 (+6%)	8mo	$119,000	$113	79
94 Armenia Dr	0.17mi	2/2.0	1,056 (+6%)	10mo	$79,000	$75	74
162 Coyote	0.19mi	2/1.5	960 (-4%)	11mo	$41,000	$43	73
3 Sand Crk	0.26mi	1/1.0 (-1)	1,040 (+4%)	5mo	$73,000	$70	68
13 Oasis Dr N	0.34mi	2/2.0	1,056 (+6%)	12mo	$159,900	$151	64
174 Coyote	0.24mi	2/2.0	880 (-12%)	6mo	$70,000	$80	64
7 Sand Crk	0.15mi	2/2.0	1,135 (+14%)	8mo	$115,000	$101	64
110 Coyote	0.20mi	2/2.0	880 (-12%)	10mo	$85,000	$97	62
318 Little Deer	0.27mi	2/2.0	1,100 (+10%)	10mo	$66,000	$60	62
213 Settles Dr	0.36mi	2/2.0	1,140 (+14%)	7mo	$145,000	$127	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.22% rent growth · sell at horizon

5-year hold

• IRR: 26.5%
• Equity multiple: 2.10×
• Total profit: $43,238
• Equity at exit: $20,860

10-year hold

• IRR: 34.3%
• Equity multiple: 4.17×
• Total profit: $124,209
• Equity at exit: $12,096

Cash invested: $39,172 (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 92234

• Home prices YoY: -27.7%
• Rents YoY: 3.2%
• Active inventory: 525
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,522 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $1,025

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 54%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
68615 Paseo Soria Cathedral City, CA	2.0	2.0	1462	$3,500	$2.39	8d	1	0.27mi
69180 Victoria Dr #8 Cathedral City, CA	3.0	2.0	1230	$1,995	$1.62	3d	1	0.29mi
69155 Dinah Shore Dr Apt 20 Cathedral City, CA	2.0	2.0	1200	$2,050	$1.71	44d	1	0.33mi
69155 Dinah Shore Dr Cathedral City, CA	2.0	2.0	1100	$1,795	$1.63	44d	1	0.34mi
34750 Marcia Rd Unit 02 Cathedral City, CA	3.0	2.0	1325	$2,000	$1.51	18d	1	0.35mi
34197 Calle Mora Cathedral City, CA	2.0	2.0	1171	$2,300	$1.96	22d	1	0.42mi
34197 Calle Mora Cathedral City, CA	2.0	2.0	1171	$2,300	$1.96	13d	1	0.42mi
34197 Calle Mora Cathedral City, CA	2.0	2.0	1171	$2,300	$1.96	10d	1	0.42mi
68859 Paseo Real Cathedral City, CA	2.0	2.0	1406	$3,960	$2.82	15d	1	0.43mi
68859 Paseo Real Cathedral City, CA	2.0	2.0	1406	$3,960	$2.82	44d	1	0.43mi
69200 Nilda Dr Cathedral City, CA	3.0	2.0	1330	$2,495	$1.88	22d	1	0.47mi
68153 Lakeland Dr Cathedral City, CA	2.0	2.0	1255	$2,500	$1.99	24d	1	0.50mi
35200 Cathedral Canyon Dr Unit H64 Cathedral City, CA	2.0	2.0	1375	$2,500	$1.82	44d	1	0.52mi
68368 Calle Leon Cathedral City, CA	2.0	2.0	1406	$3,790	$2.70	15d	1	0.53mi
68368 Calle Leon Cathedral City, CA	2.0	2.0	1406	$3,790	$2.70	44d	1	0.53mi
35200 Cathedral Canyon Dr Unit B10 Cathedral City, CA	2.0	2.0	1384	$2,600	$1.88	44d	1	0.53mi
33255 Date Palm Dr Cathedral City, CA	2.0	2.0	1050	$1,795	$1.71	44d	1	0.56mi
35615 Paseo Circulo E Cathedral City, CA	1.0	2.0	1029	$2,250	$2.19	44d	1	0.61mi
33892 Sky Blue Water Trl Cathedral City, CA	3.0	2.0	1352	$2,800	$2.07	4d	1	0.63mi
33495 Cathedral Canyon Dr Unit B Cathedral City, CA	2.0	1.0	1100	$2,100	$1.91	44d	1	0.64mi
33495 Cathedral Canyon Dr Cathedral City, CA	2.0	1.0	1100	$2,200	$2.00	44d	1	0.64mi
69603 Heather Way Rancho Mirage, CA	3.0	2.0	1218	$2,300	$1.89	44d	1	0.72mi
34073 Emily Way Rancho Mirage, CA	2.0	2.0	966	$2,100	$2.17	18d	1	0.75mi
34073 Emily Way Rancho Mirage, CA	2.0	2.0	966	$2,100	$2.17	22d	1	0.75mi
69646 Antonia Way Rancho Mirage, CA	2.0	2.0	966	$2,450	$2.54	18d	1	0.76mi
34361 Denise Way Rancho Mirage, CA	3.0	2.0	1400	$2,800	$2.00	44d	1	0.77mi
34071 Denise Way Rancho Mirage, CA	3.0	2.0	1218	$2,599	$2.13	24d	1	0.79mi
33387 Shifting Sands Trl Unit 2 Cathedral City, CA	2.0	2.0	1300	$1,999	$1.54	24d	1	0.91mi
152 Estrada Way #152 Cathedral City, CA	2.0	2.0	1500	$2,200	$1.47	44d	1	0.94mi
32585 Cielo Vista Rd Cathedral City, CA	2.0	2.0	840	$2,000	$2.38	24d	1	0.94mi
36040 Avenida de las Montanas Unit E Cathedral City, CA	2.0	2.0	1220	$3,200	$2.62	44d	1	0.98mi
33030 Shifting Sands Trl Apt 4 Cathedral City, CA	2.0	1.0	821	$1,599	$1.95	24d	1	1.00mi
32425 Rancho Vista Dr Unit A Cathedral City, CA	2.0	1.0	754	$1,950	$2.59	8d	1	1.02mi
32150 Aurora Vista Rd Cathedral City, CA	2.0	1.0	1100	$2,195	$2.00	44d	1	1.18mi
32150 Aurora Vista Rd Unit C Cathedral City, CA	2.0	1.0	1100	$2,395	$2.18	44d	1	1.18mi
32200 Cathedral Canyon Dr #31 Cathedral City, CA	1.0	1.0	740	$1,550	$2.09	24d	1	1.20mi
2010 Lawrence Crossley Rd Unit 8 Palm Springs, CA	2.0	1.5	993	$1,895	$1.91	14d	1	1.22mi
26 Pueblo Vista Dr Palm Springs, CA	3.0	2.0	1487	$3,200	$2.15	44d	1	1.25mi
6071 Hazeltine Plz Palm Springs, CA	2.0	2.0	1168	$3,200	$2.74	44d	1	1.27mi
36947 Melrose Dr Unit 4 Cathedral City, CA	1.0	1.0	700	$1,595	$2.28	3d	1	1.38mi

Listing history 15 events

1. 2026-06-18
   days on market $139,900 Active 47 DOM
2. 2026-06-17
   days on market $139,900 Active 46 DOM
3. 2026-06-16
   days on market $139,900 Active 45 DOM
4. 2026-06-15
   days on market $139,900 Active 44 DOM
5. 2026-06-13
   days on market $139,900 Active 42 DOM
6. 2026-06-13
   days on market $139,900 Active 41 DOM
7. 2026-06-09
   days on market $139,900 Active 38 DOM
8. 2026-06-08
   days on market $139,900 Active 37 DOM
9. 2026-06-07
   pricedays on market $139,900 Active 36 DOM
10. 2026-06-04
    days on market $149,900 Active 33 DOM
11. 2026-06-03
    days on market $149,900 Active 32 DOM
12. 2026-06-02
    days on market $149,900 Active 31 DOM
13. 2026-06-01
    days on market $149,900 Active 30 DOM
14. 2026-05-31
    days on market $149,900 Active 29 DOM
15. 2026-04-29
    listed $149,900 Active 962-char remark

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥113°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,262
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$2,421
• − Management: −$2,421
• − Depreciation: −$4,070
• Taxable income: $10,716
• Est. tax owed @ 24.0%: −$2,572
• After-tax cash flow: $9,733/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: Palm Springs Unified
• NCES district ID: 0629550
• Math proficiency: 21% ▼ -7.00%
• Reading proficiency: 42% ▬ 0.00%
• Median HH income: $43,638
• Composite: 26.76/100
• National rank: #7131
• State rank: #328 of 517 in CA

Livability — Cathedral City

• Score: 66/100
• State rank: #344
• US rank: #11749

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cathedral City, CA
• County: Riverside County · 2,287,001 people
• City population: 52,267
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 52,267
• Household income: $73,572
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 1682.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 59% White 30% Two or more races 27% Asian 6% Native American 2% Black 2%
• Hispanic origin (detail): Mexican 51%
• Common ancestry: Lithuanian 2% Romanian 1% Italian 1%
• Foreign-born: 28% · Canada, Vietnam
• Languages at home: 48% English-only · Spanish 46% Tagalog/Filipino 3% Other Asian/Pacific 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: ▼ -136.57%
• Current HPI: 356.9845
• Rent YoY: ▲ 3.22%
• 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

-6.7% since first listed

2 events — show timeline

• 2026-06-05 Price Changed $139,900 GPSMLS
• 2026-04-29 Listed $149,900 GPSMLS

Property tax history

+1.0%/yr

Latest (2025): $219 · -2.1% YoY. Source: county tax records.