1961 S Palm Canyon Dr · Palm Springs, CA 92264

$249,000

2 bd · 3.5 ba · 2,728 sqft · SingleFamily public records · 30 Days on market

Built 2013 0.26 ac lot $91/sqft · 79% above area

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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 +23.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +6.0/10.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

New co-ownership opportunity by Pacaso: Own one-eighth of Palm Canyon, a professionally managed, turnkey home. This 3-bedroom, 3.5-bathroom home is a stunning example of desert modern design, where clean lines, natural materials, and expansive glass create a seamless connection between indoor and outdoor spaces. Thoughtfully designed, the L-shaped layout maximizes privacy while capturing breathtaking mountain views through floor-to-ceiling glass walls. Warm wood-clad ceilings and floors add texture and warmth to the open living space, where a sleek, integrated kitchen blends effortlessly into the design. A recessed stainless steel refrigerator, gas range, and discreet vent hood maintain the

Key facts

• Turnkey home
• Wood-clad ceilings
• Desert modern design

Tags

• TURNKEY HOME
• DESERT MODERN DESIGN
• L-SHAPED LAYOUT
• BREATHTAKING MOUNTAIN VIEWS
• FLOOR-TO-CEILING GLASS WALLS
• WOOD-CLAD CEILINGS

Property features AI

Finance

• Other: Not in a gated community; Short-term rentals not allowed; Will not consider lease
• HOA & community: No monthly association fee

Exterior

• Parking: Six total parking spaces; Attached carport with two covered carport spaces; Two additional uncovered/assigned spaces
• Security: Security/safety features (unspecified)
• Utilities: Sewer: Other; Fee simple land
• Home design: Detached property; One story
• Construction: One-story building
• Exterior features: Private heated in-ground pool; In-ground heated spa/hot tub; Fenced yard; Sprinkler system; Mountain view; Updated/remodeled condition

Interior

• Kitchen: Gas oven; Range hood; Dishwasher; Refrigerator; Freezer
• Flooring: Wood flooring
• Bathrooms: Three full bathrooms; One half bathroom
• Heating & cooling: Central heating (forced air); Central air conditioning
• Interior features: Ground-level entry with no steps; Fully furnished; Great room; Dining area; Utility room; Gas fireplace in the family room
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/3.5-bath single-family listed at $249k.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Recommended offer: $245k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 2.7% in Palm Springs — 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 (#348 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+; Watch: crime F, cost of living F, health & safety F.
• 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.
• Zoned schools: Cahuilla Elementary (421 students, 93% FRL); Raymond Cree Middle (708 students, 98% FRL); Palm Springs High (math 30% / reading 51%, grade F, #508 of 1,170 statewide, top 44%, 1,584 students, 97% FRL) — zoned schools average 96% FRL vs 73% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.4%/yr); 498 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% 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).
• This rent runs 42% of the median local income ($78k/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 $2k of loan paydown is wiped out by about $7k 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 30 days — a 2% lower offer ($245k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 21y 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 10→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $245,265 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Crime grade is F 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?
3. 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.
4. 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.
5. 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: 1.10% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.69%
• DSCR: 1.34
• GRM: 7.6

CMA / ARV

• ARV (median comp): $139,137
• List price: $249,000
• Delta: 114.90%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
310 W Crestview Dr	0.29mi	3/4.0 (+1)	2,775 (+2%)	5mo	$3,000,000	$1,081	72
1945 S Mesa Dr	0.06mi	3/4.0 (+1)	2,388 (-12%)	3mo	$1,775,000	$743	67
982 E Marion Way	0.50mi	3/4.0 (+1)	2,672 (-2%)	4mo	$1,200,000	$449	63
1994 Yucca Pl	0.62mi	3/3.5 (+1)	2,534 (-7%)	12mo	$1,475,000	$582	44
2283 S Alhambra Dr	0.63mi	3/3.0 (+1)	2,419 (-11%)	1mo	$900,000	$372	44
1977 Ana Maria Pl	0.62mi	3/3.0 (+1)	2,370 (-13%)	20mo	$1,125,000	$475	25
2508 S Calle Palo Fierro	0.74mi	3/4.0 (+1)	3,068 (+12%)	21mo	$2,499,000	$815	20

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -8.0%
• Equity multiple: 0.71×
• Total profit: $-19,906
• Equity at exit: $37,127

10-year hold

• IRR: -2.9%
• Equity multiple: 0.83×
• Total profit: $-11,614
• Equity at exit: $21,529

Cash invested: $69,720 (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 92264

• Rents YoY: -0.4%
• Active inventory: 498
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,743 medium
• Mortgage (P&I): −$1,306
• Tax est. 1.5%: −$311 /mo · $3,735/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $447

Break-even live

Break-even rent $2,178

Max offer price $249,000

Occupancy floor 79%

Sensitivity live

Price	-10% $619	-5% $533	+0% $447	+5% $361	+10% $274
Rent	-10% $230	-5% $338	+0% $447	+5% $555	+10% $663
Rate	-1.0pp $572	-0.5pp $510	base $447	+0.5pp $382	+1.0pp $316

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1947 S Joshua Tree Pl Palm Springs, CA	3.0	2.5	1928	$6,000	$3.11	25d	1	0.45mi
791 E Twin Palms Dr Palm Springs, CA	3.0	2.0	1793	$9,700	$5.41	45d	1	0.45mi
500 Paseo Soleado Unit 497 Palm Springs, CA	3.0	2.5	1812	$3,000	$1.66	45d	1	0.48mi
1970 S Joshua Tree Pl Palm Springs, CA	3.0	2.0	1957	$8,175	$4.18	16d	1	0.50mi
1970 S Joshua Tree Pl Palm Springs, CA	3.0	2.0	1957	$8,175	$4.18	45d	1	0.50mi
1201 Surrey Ln Palm Springs, CA	2.0	2.5	1896	$5,500	$2.90	45d	1	0.57mi
17 Cahuilla Hills Dr Palm Springs, CA	2.0	2.0	1965	$10,500	$5.34	45d	1	0.61mi
3000 Cahuilla Hills Dr Palm Springs, CA	3.0	3.0	2120	$7,000	$3.30	45d	1	0.62mi
2560 S Camino Real Palm Springs, CA	3.0	2.0	2421	$25,000	$10.33	45d	1	0.84mi
1533 E Canyon Estates Dr Palm Springs, CA	2.0	2.5	2593	$2,500	$0.96	45d	1	1.01mi
1595 S Calle Rolph Palm Springs, CA	3.0	3.5	2509	$8,500	$3.39	45d	1	1.04mi
1155 E Mesquite Ave Palm Springs, CA	3.0	3.0	2700	$9,500	$3.52	45d	1	1.05mi
1155 E Mesquite Ave Palm Springs, CA	3.0	3.0	2700	$13,000	$4.81	25d	1	1.05mi
1592 S Calle Rolph Palm Springs, CA	2.0	3.0	2612	$6,000	$2.30	45d	1	1.07mi
520 E Murray Canyon Dr Palm Springs, CA	1.0–3.0	2.0–2.5	1885	$2,595	$1.38	0d	1	1.09mi
1331 S Sunrise Way Palm Springs, CA	3.0	3.0	2160	$7,000	$3.24	45d	1	1.21mi
595 E Bogert Trl Palm Springs, CA	3.0	3.5	3330	$25,000	$7.51	0d	1	1.36mi

Listing history 50 events

1. 2026-06-21
   days on market $249,000 Active 30 DOM
2. 2026-06-18
   days on market $249,000 Active 27 DOM
3. 2026-06-17
   days on market $249,000 Active 26 DOM
4. 2026-06-16
   days on market $249,000 Active 25 DOM
5. 2026-06-15
   days on market $249,000 Active 24 DOM
6. 2026-06-13
   days on market $249,000 Active 22 DOM
7. 2026-06-13
   days on market $249,000 Active 21 DOM
8. 2026-06-09
   days on market $249,000 Active 18 DOM
9. 2026-06-08
   pricedays on market $249,000 Active 17 DOM
10. 2026-06-07
    days on market $260,000 Active 16 DOM
11. 2026-06-04
    days on market $260,000 Active 13 DOM
12. 2026-06-03
    days on market $260,000 Active 12 DOM
13. 2026-06-02
    days on market $260,000 Active 11 DOM
14. 2026-06-01
    days on market $260,000 Active 10 DOM
15. 2026-05-31
    days on market $260,000 Active 9 DOM
16. 2026-03-12
    listed $299,000 Active 1298-char remark
17. 2026-02-24
    historical
18. 2025-10-09
    listed $290,000 Active
19. 2025-08-19
    historical
20. 2025-02-07
    listed $349,000 Active
21. 2023-11-14
    historical
22. 2023-09-13
    listed $399,000 Active
23. 2023-05-09
    historical
24. 2023-03-23
    price $379,000
25. 2023-01-25
    listed $398,000 Active
26. 2021-09-02
    historical
27. 2021-07-26
    listed $346,000 Active
28. 2021-07-12
    soldstatus $2,220,000
29. 2018-03-05
    soldstatus $1,385,000 Closed
30. 2018-03-05
    soldstatus $1,385,000
31. 2018-02-19
    status Pending
32. 2018-02-01
    status Backup Offers Accepted
33. 2018-01-17
    price $1,495,000
34. 2017-10-31
    listed $1,595,000 Active
35. 2013-12-12
    soldstatus $1,025,000 Closed
36. 2013-12-12
    soldstatus $1,025,000
37. 2013-12-04
    status Pending
38. 2013-11-13
    status Backup Offers Accepted
39. 2013-11-02
    price $1,195,000
40. 2013-10-04
    listed $1,395,000 Active
41. 2012-09-19
    soldstatus $140,000 Closed
42. 2012-09-18
    soldstatus $135,000
43. 2012-08-30
    status Pending
44. 2012-05-22
    price $229,000
45. 2011-08-12
    listed $250,000 Active
46. 2007-06-11
    historical
47. 2007-06-11
    historical
48. 2007-01-11
    listed
49. 2007-01-11
    listed $449,000
50. 2006-12-14
    historical

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 10 d/yr ≥110°F today · 28 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: $32,922
• − Mortgage interest: −$13,948
• − Property taxes: −$3,735
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,634
• − Management: −$2,634
• − Depreciation: −$7,244
• Taxable income: $1,483
• Est. tax owed @ 24.0%: −$356
• After-tax cash flow: $5,003/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 — Palm Springs

• Score: 66/100
• State rank: #348
• US rank: #11850

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Springs, CA
• County: Riverside County · 2,287,001 people
• City population: 46,786
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 19,899
• Household income: $77,688
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1215.0

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 20% Two or more races 12% Asian 6% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Lithuanian 4% Romanian 3% Slovak 3%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 81% English-only · Spanish 13% Tagalog/Filipino 2% 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: ▼ -489.04%
• Current HPI: 357.0969
• Rent YoY: ▼ -0.43%
• 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

+232.0% since first listed

47 events — show timeline

• 2026-06-08 Price Changed $249,000 GPSMLS
• 2026-05-22 Listed $260,000 GPSMLS
• 2026-05-20 Listing Removed — GPSMLS
• 2026-03-12 Listed $299,000 GPSMLS
• 2026-02-24 Listing Removed — GPSMLS
• 2025-10-09 Listed $290,000 GPSMLS
• 2025-08-19 Listing Removed — GPSMLS
• 2025-02-07 Listed $349,000 GPSMLS
• 2023-11-14 Listing Removed — GPSMLS
• 2023-09-13 Listed $399,000 GPSMLS
• 2023-05-09 Listing Removed — GPSMLS
• 2023-03-23 Price Changed $379,000 GPSMLS
• 2023-01-25 Listed $398,000 GPSMLS
• 2021-09-02 Listing Removed — GPSMLS
• 2021-07-26 Listed $346,000 GPSMLS
• 2021-07-12 Sold (Public Records) $2,220,000 Public Records
• 2018-03-05 Sold (Public Records) $1,385,000 Public Records
• 2018-03-05 Sold (MLS) $1,385,000 GPSMLS
• 2018-02-19 Pending — GPSMLS
• 2018-02-01 Pending — GPSMLS
• 2018-01-17 Price Changed $1,495,000 GPSMLS
• 2017-10-31 Listed $1,595,000 GPSMLS
• 2013-12-12 Sold (Public Records) $1,025,000 Public Records
• 2013-12-12 Sold (MLS) $1,025,000 GPSMLS
• 2013-12-04 Pending — GPSMLS
• 2013-11-13 Pending — GPSMLS
• 2013-11-02 Price Changed $1,195,000 GPSMLS
• 2013-10-04 Listed $1,395,000 GPSMLS
• 2012-09-19 Sold (MLS) $140,000 CRMLS
• 2012-09-18 Sold (Public Records) $135,000 Public Records
• 2012-08-30 Pending — CRMLS
• 2012-05-22 Price Changed $229,000 CRMLS
• 2011-08-12 Listed $250,000 CRMLS
• 2007-06-11 Delisted — TheMLS
• 2007-06-11 Listing Removed — CRMLS
• 2007-01-11 Listed $449,000 CRMLS
• 2007-01-11 Listed — TheMLS
• 2006-12-14 Listing Removed — CRMLS
• 2006-12-13 Listing Removed — GPSMLS
• 2006-09-26 Listed $499,500 GPSMLS
• 2006-09-03 Listing Removed — GPSMLS
• 2006-04-05 Listed $499,500 CRMLS
• 2006-04-04 Listed $525,000 GPSMLS
• 2006-02-27 Sold (Public Records) $350,000 Public Records
• 2006-01-05 Delisted — PALM
• 2005-06-24 Sold (Public Records) $75,000 Public Records
• 2005-01-05 Listed — PALM

Property tax history

+11.7%/yr

Latest (2025): $27,601 · -2.7% YoY. Source: county tax records.