55 Colonial Dr · Rancho Mirage, CA 92270

$575,000

3 bd · 2.0 ba · 1,806 sqft · Condo public records · 76 Days on market

Built 1989 $318/sqft · 16% below area Est $683k · 16% under $900/mo HOA · 18% of rent

---

Why this score? — see what drove the D- 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).

• ARV discount +14.6/15.0
• Cash flow +7.8/30.0
• 1% rule +3.7/10.0
• Rent growth +3.4/5.0
• Schools +2.7/10.0
• Livability +2.6/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in Mission Hills Country Club's Deane Homes on fee land, this beautifully upgraded residence offers stunning fairway views of the 6th hole of the Pete Dye Resort Course. The home features hardwood flooring, wooden plantation shutters, and granite countertops throughout. Bathrooms are tastefully updated with granite finishes and frameless glass showers. Enjoy a private, thoughtfully designed courtyard with mature landscaping--perfect for relaxing or entertaining. Additional highlights include a new AC and heating system installed in October, plus a spacious three-car garage complete with abundant built-in storage and durable lava flow epoxy flooring.

Key facts

• Hardwood flooring
• Fairway views
• Mature landscaping

Tags

• FAIRWAY VIEWS
• PRIVATE COURTYARD
• MATURE LANDSCAPING
• GRANITE COUNTERTOPS
• HARDWOOD FLOORING
• FRAMELESS GLASS SHOWERS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $575k.

Deal economics

• At list price, monthly cash flow is $-639 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $462k (19.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $498k (13.4% below list).
• Recommended offer: $462k (19.6% below list) — sets the bar for cash-flow.
• Cap rate 5.0% vs local median 3.0% in Rancho Mirage — 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 51/100 on livability (#1,065 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+; Watch: amenities F, commute F, cost of living 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: Rancho Mirage Elementary (309 students, 86% FRL); Nellie N. Coffman Middle (953 students, 98% FRL); Rancho Mirage High (math 15% / reading 38%, grade F, #804 of 1,170 statewide, top 69%, 1,491 students, 97% FRL) — zoned schools average 94% FRL vs 73% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.7%/yr); 532 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% 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).
• At $4,982/mo this rent would consume 56% of the median local household income ($107k/yr) (locally 498% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $17k 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 76 days — a 6% lower offer ($540k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 27y 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 $246k; list at $575k implies a 134% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 4→12/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $462,109 (19.6% below list)

Questions for the listing agent

1. 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?
2. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.87% ✗
• Cap rate: 4.96%
• Cash-on-cash: -4.76%
• DSCR: 0.79
• GRM: 9.6

CMA / ARV

• ARV (median comp): $682,748
• List price: $575,000
• Delta: -15.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.72% rent growth · sell at horizon

5-year hold

• IRR: -23.3%
• Equity multiple: 0.19×
• Total profit: $-129,796
• Equity at exit: $85,734

10-year hold

• IRR: -15.8%
• Equity multiple: 0.08×
• Total profit: $-148,490
• Equity at exit: $49,715

Cash invested: $161,000 (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 92270

• Rents YoY: 3.7%
• Active inventory: 532
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $4,982 high
• Mortgage (P&I): −$3,015
• Tax from tax record: −$420 /mo · $5,042/yr
• Insurance: −$240
• HOA: −$900
• Vacancy / Maint / Mgmt: −$1,046
• Net cashflow: $-639

Break-even live

Break-even rent $5,791

Max offer price $462,109

Occupancy floor —

Sensitivity live

Price	-10% $-314	-5% $-476	+0% $-639	+5% $-802	+10% $-965
Rent	-10% $-1,033	-5% $-836	+0% $-639	+5% $-442	+10% $-245
Rate	-1.0pp $-349	-0.5pp $-493	base $-639	+0.5pp $-788	+1.0pp $-940

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
42 Colonial Dr Rancho Mirage, CA	3.0	3.0	2005	$3,600	$1.80	23d	1	0.07mi
42 Colonial Dr Rancho Mirage, CA	3.0	3.0	2005	$3,600	$1.80	4d	1	0.07mi
54 Pine Valley Dr Rancho Mirage, CA	3.0	2.0	1620	$5,000	$3.09	45d	1	0.24mi
38 Pine Valley Dr Rancho Mirage, CA	2.0	2.0	1620	$6,500	$4.01	45d	1	0.26mi
51 Pebble Beach Dr Rancho Mirage, CA	3.0	2.0	1806	$6,000	$3.32	45d	1	0.35mi
69 Cabernet Rancho Mirage, CA	2.0	2.0	1438	$3,200	$2.23	45d	1	0.53mi
91 Augusta Dr Rancho Mirage, CA	2.0	2.0	1620	$5,290	$3.27	45d	1	0.58mi
462 Sunningdale Dr Rancho Mirage, CA	2.0	2.0	1547	$3,750	$2.42	45d	1	0.59mi
22 San Leandro Ct Rancho Mirage, CA	3.0	3.5	2563	$5,500	$2.15	45d	1	0.59mi
464 Sunningdale Dr Rancho Mirage, CA	3.0	3.0	1751	$6,000	$3.43	45d	1	0.60mi
436 Sunningdale Dr Rancho Mirage, CA	2.0	2.0	1535	$4,000	$2.61	45d	1	0.62mi
426 Forest Hills Dr Rancho Mirage, CA	2.0	2.0	1535	$3,600	$2.35	26d	1	0.67mi
415 Forest Hills Dr Rancho Mirage, CA	2.0	2.0	1535	$3,300	$2.15	45d	1	0.70mi
26 Carmenere Rancho Mirage, CA	2.0	2.0	1438	$6,000	$4.17	45d	1	0.73mi
829 Inverness Dr Rancho Mirage, CA	4.0	3.0	2527	$11,000	$4.35	14d	1	0.76mi
69 San Marino Cir Rancho Mirage, CA	3.0	2.5	2601	$3,795	$1.46	23d	1	0.78mi
343 Forest Hills Dr Rancho Mirage, CA	2.0	2.0	1535	$4,500	$2.93	19d	1	0.79mi
343 Forest Hills Dr Rancho Mirage, CA	2.0	2.0	1535	$4,500	$2.93	45d	1	0.79mi
81 Claret Rancho Mirage, CA	3.0	2.0	2329	$4,995	$2.14	45d	1	0.81mi
39 Barolo Rancho Mirage, CA	2.0	2.5	2509	$10,000	$3.99	45d	1	0.83mi
118 Racquet Club Dr Rancho Mirage, CA	2.0	2.0	1488	$2,900	$1.95	45d	1	0.86mi
82 Burgundy Rancho Mirage, CA	2.0	2.0	1438	$4,250	$2.96	20d	1	0.91mi
107 Racquet Club Dr Rancho Mirage, CA	2.0	2.0	1488	$4,500	$3.02	45d	1	0.91mi
714 Inverness Dr Rancho Mirage, CA	3.0	3.0	2227	$3,500	$1.57	45d	1	0.92mi
70895 Ironwood Dr Rancho Mirage, CA	4.0	2.5	2575	$7,995	$3.10	6d	1	0.95mi
162 Saint Thomas Pl Rancho Mirage, CA	3.0	2.5	2477	$6,000	$2.42	45d	1	0.97mi
36726 Jasmine Ln Rancho Mirage, CA	4.0	3.0	2539	$14,000	$5.51	45d	1	1.01mi
34 Magnum Rancho Mirage, CA	2.0	2.0	1770	$3,800	$2.15	45d	1	1.09mi
35054 Mission Hills Dr Rancho Mirage, CA	2.0	2.0	1396	$2,549	$1.83	6d	1	1.17mi
46 Vintage Rancho Mirage, CA	2.0	2.0	1657	$2,995	$1.81	45d	1	1.18mi
20 Via Bella Rancho Mirage, CA	3.0	2.5	2367	$3,995	$1.69	23d	1	1.21mi
21 Via Bella Rancho Mirage, CA	3.0	2.0	2331	$3,900	$1.67	26d	1	1.22mi
18 Via Bella Rancho Mirage, CA	3.0	3.0	2333	$5,200	$2.23	45d	1	1.22mi
35 Mission Ct Rancho Mirage, CA	3.0	2.0	1382	$4,125	$2.98	45d	1	1.23mi
35082 Mission Hills Dr Rancho Mirage, CA	2.0	2.5	1624	$3,250	$2.00	14d	1	1.24mi
38 Mission Ct Rancho Mirage, CA	3.0	3.0	1382	$3,500	$2.53	45d	1	1.24mi
35090 Mission Hills Dr Rancho Mirage, CA	2.0	2.0	1596	$3,950	$2.47	26d	1	1.25mi
8 Mission Ct Rancho Mirage, CA	2.0	2.0	1540	$2,500	$1.62	20d	1	1.28mi
34 Paris Way Rancho Mirage, CA	3.0	3.0	2101	$6,000	$2.86	45d	1	1.28mi
253 Loch Lomond Rd Rancho Mirage, CA	3.0	4.0	2452	$11,900	$4.85	45d	1	1.32mi

HOA detail condo

• Monthly dues: $900 · $10,800/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-15
   status $575,000 Pending 76 DOM
2. 2026-06-13
   days on market $575,000 Active Under Contract 76 DOM
3. 2026-06-13
   days on market $575,000 Active Under Contract 75 DOM
4. 2026-06-09
   days on market $575,000 Active Under Contract 72 DOM
5. 2026-06-08
   days on market $575,000 Active Under Contract 71 DOM
6. 2026-06-07
   days on market $575,000 Active Under Contract 70 DOM
7. 2026-06-04
   days on market $575,000 Active Under Contract 67 DOM
8. 2026-06-03
   days on market $575,000 Active Under Contract 66 DOM
9. 2026-06-02
   days on market $575,000 Active Under Contract 65 DOM
10. 2026-06-01
    days on market $575,000 Active Under Contract 64 DOM
11. 2026-05-31
    days on market $575,000 Active Under Contract 63 DOM
12. 2026-05-16
    historical Active Under Contract 665-char remark

    Show marketing remark (665 chars)

    Located in Mission Hills Country Club's Deane Homes on fee land, this beautifully upgraded residence offers stunning fairway views of the 6th hole of the Pete Dye Resort Course. The home features hardwood flooring, wooden plantation shutters, and granite countertops throughout. Bathrooms are tastefully updated with granite finishes and frameless glass showers. Enjoy a private, thoughtfully designed courtyard with mature landscaping--perfect for relaxing or entertaining. Additional highlights include a new AC and heating system installed in October, plus a spacious three-car garage complete with abundant built-in storage and durable lava flow epoxy flooring.

13. 2026-03-21
    listed $575,000 Active 665-char remark

    Show marketing remark (665 chars)

    Located in Mission Hills Country Club's Deane Homes on fee land, this beautifully upgraded residence offers stunning fairway views of the 6th hole of the Pete Dye Resort Course. The home features hardwood flooring, wooden plantation shutters, and granite countertops throughout. Bathrooms are tastefully updated with granite finishes and frameless glass showers. Enjoy a private, thoughtfully designed courtyard with mature landscaping--perfect for relaxing or entertaining. Additional highlights include a new AC and heating system installed in October, plus a spacious three-car garage complete with abundant built-in storage and durable lava flow epoxy flooring.

14. 2000-04-18
    soldstatus $246,000
15. 2000-03-03
    historical
16. 1999-11-30
    listed $254,000

ⓘ 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: $5,042 · $420/mo
• Projected year-2 tax: $5,042 · $420/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 1/10 Low
• 🌡 Heat 9/10 Extreme 4 d/yr ≥114°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $59,788
• − Mortgage interest: −$32,209
• − Property taxes: −$5,042
• − Insurance: −$2,875
• − Repairs & maintenance: −$4,783
• − Management: −$4,783
• − HOA: −$10,800
• − Depreciation: −$16,727
• Taxable loss: −$17,431
• Est. tax savings @ 24.0%: +$4,183
• After-tax cash flow: $-3,485/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 — Rancho Mirage

• Score: 51/100
• State rank: #1065
• US rank: #25255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rancho Mirage, CA
• County: Riverside County · 2,287,001 people
• City population: 17,563
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 17,563
• Household income: $107,364
• Rent vs Own: 18.0% rent · 82.0% own
• Severe rent burden: 498.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 15% Two or more races 6% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 4% Romanian 3% Lithuanian 3%
• Foreign-born: 17% · Canada, South Korea, China
• Languages at home: 81% English-only · Spanish 11% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -210.99%
• Current HPI: 282.2957
• Rent YoY: ▲ 3.72%
• 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

+126.4% since first listed

5 events — show timeline

• 2026-05-16 Contingent — GPSMLS
• 2026-03-21 Listed $575,000 GPSMLS
• 2000-04-18 Sold (Public Records) $246,000 Public Records
• 2000-03-03 Listing Removed — GPSMLS
• 1999-11-30 Listed $254,000 GPSMLS

Property tax history

+2.1%/yr

Latest (2025): $5,042 · -0.9% YoY. Source: county tax records.