69517 Iberia Ct · Rancho Mirage, CA 92270

$144,900

3 bd · 2.0 ba · 1,128 sqft · Condo public records · 142 Days on market

Built 1979 $128/sqft · 48% below area Est $279k · 48% under $605/mo HOA · 17% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.4/5.0
• Schools +2.7/10.0
• Livability +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Complex is off Gerald Ford between DaVall and Plumley Major price reduction! All info should be verified with HOA prop manager and Fey's Canyon Financial Services (lease information) Tenant in property - call agent to show

Key facts

• $605 HOA
• Garage
• Community pool

🏷️ Possibly a rental listed for sale. The $144,900 price doesn't fit this home's estimated sale value (~$279,100) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.2% 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.
• Market conditions: Rents rising (+3.7%/yr); 529 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% 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 40% of the median local income ($107k/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 $1k 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 + 3.7% rent growth), your $41k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($128k) 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 $127,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — 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. 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. 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: 2.44% ✓
• Cap rate: 15.18%
• Cash-on-cash: 31.73%
• DSCR: 2.41
• GRM: 3.4

CMA / ARV

• ARV (median comp): $279,100
• List price: $144,900
• Delta: -48.08%
• 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: 28.0%
• Equity multiple: 2.18×
• Total profit: $47,917
• Equity at exit: $21,605

10-year hold

• IRR: 36.1%
• Equity multiple: 4.51×
• Total profit: $142,452
• Equity at exit: $12,528

Cash invested: $40,572 (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: 529
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $3,535 high
• Mortgage (P&I): −$760
• Tax from tax record: −$295 /mo · $3,536/yr
• Insurance: −$60
• HOA: −$605
• Vacancy / Maint / Mgmt: −$742
• Net cashflow: $1,073

Break-even live

Break-even rent $2,177

Max offer price $144,900

Occupancy floor 65%

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36040 Avenida de las Montanas Unit E Cathedral City, CA	2.0	2.0	1220	$3,200	$2.62	43d	1	0.11mi
69200 Nilda Dr Cathedral City, CA	3.0	2.0	1330	$2,495	$1.88	21d	1	0.47mi
152 Estrada Way #152 Cathedral City, CA	2.0	2.0	1500	$2,200	$1.47	43d	1	0.53mi
251 S Paseo Laredo Cathedral City, CA	2.0	2.0	1440	$2,400	$1.67	43d	1	0.60mi
34750 Marcia Rd Unit 02 Cathedral City, CA	3.0	2.0	1325	$2,000	$1.51	17d	1	0.62mi
68859 Paseo Real Cathedral City, CA	2.0	2.0	1406	$3,960	$2.82	43d	1	0.69mi
68859 Paseo Real Cathedral City, CA	2.0	2.0	1406	$3,960	$2.82	14d	1	0.69mi
69646 Antonia Way Rancho Mirage, CA	2.0	2.0	966	$2,450	$2.54	18d	1	0.72mi
69603 Heather Way Rancho Mirage, CA	3.0	2.0	1218	$2,300	$1.89	43d	1	0.76mi
34361 Denise Way Rancho Mirage, CA	3.0	2.0	1400	$2,800	$2.00	43d	1	0.77mi
69180 Victoria Dr #8 Cathedral City, CA	3.0	2.0	1230	$1,995	$1.62	2d	1	0.80mi
38 Mission Ct Rancho Mirage, CA	3.0	3.0	1382	$3,500	$2.53	43d	1	0.81mi
35 Mission Ct Rancho Mirage, CA	3.0	2.0	1382	$4,125	$2.98	43d	1	0.83mi
35054 Mission Hills Dr Rancho Mirage, CA	2.0	2.0	1396	$2,549	$1.83	4d	1	0.85mi
34073 Emily Way Rancho Mirage, CA	2.0	2.0	966	$2,100	$2.17	21d	1	0.89mi
34073 Emily Way Rancho Mirage, CA	2.0	2.0	966	$2,100	$2.17	17d	1	0.89mi
34071 Denise Way Rancho Mirage, CA	3.0	2.0	1218	$2,599	$2.13	24d	1	0.90mi
69155 Dinah Shore Dr Cathedral City, CA	2.0	2.0	1100	$1,795	$1.63	43d	1	0.92mi
69155 Dinah Shore Dr Apt 20 Cathedral City, CA	2.0	2.0	1200	$2,050	$1.71	43d	1	0.94mi
35200 Cathedral Canyon Dr Unit H64 Cathedral City, CA	2.0	2.0	1375	$2,500	$1.82	43d	1	0.94mi
70170 Sun Valley Dr Rancho Mirage, CA	2.0	2.0	1368	$3,800	$2.78	4d	1	0.99mi
35200 Cathedral Canyon Dr Unit B10 Cathedral City, CA	2.0	2.0	1384	$2,600	$1.88	43d	1	1.02mi
37800 Da Vall Dr #12 Rancho Mirage, CA	2.0	2.0	1387	$2,400	$1.73	43d	1	1.11mi
68615 Paseo Soria Cathedral City, CA	2.0	2.0	1462	$3,500	$2.39	7d	1	1.11mi
68695 F St Cathedral City, CA	3.0	2.5	896	$2,500	$2.79	43d	1	1.20mi
107 Racquet Club Dr Rancho Mirage, CA	2.0	2.0	1488	$4,500	$3.02	43d	1	1.25mi
34197 Calle Mora Cathedral City, CA	2.0	2.0	1171	$2,300	$1.96	21d	1	1.28mi
34197 Calle Mora Cathedral City, CA	2.0	2.0	1171	$2,300	$1.96	10d	1	1.28mi
34197 Calle Mora Cathedral City, CA	2.0	2.0	1171	$2,300	$1.96	13d	1	1.28mi
118 Racquet Club Dr Rancho Mirage, CA	2.0	2.0	1488	$2,900	$1.95	43d	1	1.32mi
33255 Date Palm Dr Cathedral City, CA	2.0	2.0	1050	$1,795	$1.71	43d	1	1.36mi
68368 Calle Leon Cathedral City, CA	2.0	2.0	1406	$3,790	$2.70	43d	1	1.39mi
68368 Calle Leon Cathedral City, CA	2.0	2.0	1406	$3,790	$2.70	14d	1	1.39mi
68153 Lakeland Dr Cathedral City, CA	2.0	2.0	1255	$2,500	$1.99	24d	1	1.40mi

HOA detail condo

• Monthly dues: $605 · $7,260/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $144,900 Active 142 DOM
2. 2026-06-17
   days on market $144,900 Active 141 DOM
3. 2026-06-16
   days on market $144,900 Active 140 DOM
4. 2026-06-15
   days on market $144,900 Active 139 DOM
5. 2026-06-13
   days on market $144,900 Active 137 DOM
6. 2026-06-13
   days on market $144,900 Active 136 DOM
7. 2026-06-09
   days on market $144,900 Active 133 DOM
8. 2026-06-08
   days on market $144,900 Active 132 DOM
9. 2026-06-07
   days on market $144,900 Active 131 DOM
10. 2026-06-04
    days on market $144,900 Active 128 DOM
11. 2026-06-03
    days on market $144,900 Active 127 DOM
12. 2026-06-02
    days on market $144,900 Active 126 DOM
13. 2026-06-01
    days on market $144,900 Active 125 DOM
14. 2026-05-31
    days on market $144,900 Active 124 DOM
15. 2026-05-08
    price $144,900 222-char remark

    Show marketing remark (222 chars)

    Complex is off Gerald Ford between DaVall and Plumley Major price reduction! All info should be verified with HOA prop manager and Fey's Canyon Financial Services (lease information) Tenant in property - call agent to show

16. 2026-04-09
    price $175,000 222-char remark

    Show marketing remark (222 chars)

    Complex is off Gerald Ford between DaVall and Plumley Major price reduction! All info should be verified with HOA prop manager and Fey's Canyon Financial Services (lease information) Tenant in property - call agent to show

17. 2026-03-19
    price $235,000 222-char remark

    Show marketing remark (222 chars)

    Complex is off Gerald Ford between DaVall and Plumley Major price reduction! All info should be verified with HOA prop manager and Fey's Canyon Financial Services (lease information) Tenant in property - call agent to show

18. 2026-01-22
    listed $249,000 Active 222-char remark

    Show marketing remark (222 chars)

    Complex is off Gerald Ford between DaVall and Plumley Major price reduction! All info should be verified with HOA prop manager and Fey's Canyon Financial Services (lease information) Tenant in property - call agent to show

19. 2018-10-10
    soldstatus $1,938,000
20. 2018-10-05
    soldstatus $7,750,000
21. 2012-06-01
    soldstatus $1,000,000
22. 2005-08-23
    soldstatus $110,000

ⓘ 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: $3,536 · $295/mo
• Projected year-2 tax: $3,536 · $295/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 · 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 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,420
• − Mortgage interest: −$8,117
• − Property taxes: −$3,536
• − Insurance: −$724
• − Repairs & maintenance: −$3,394
• − Management: −$3,394
• − HOA: −$7,260
• − Depreciation: −$4,215
• Taxable income: $11,780
• Est. tax owed @ 24.0%: −$2,827
• After-tax cash flow: $10,046/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

+31.7% since first listed

8 events — show timeline

• 2026-05-08 Price Changed $144,900 GPSMLS
• 2026-04-09 Price Changed $175,000 GPSMLS
• 2026-03-19 Price Changed $235,000 GPSMLS
• 2026-01-22 Listed $249,000 GPSMLS
• 2018-10-10 Sold (Public Records) $1,938,000 Public Records
• 2018-10-05 Sold (Public Records) $7,750,000 Public Records
• 2012-06-01 Sold (Public Records) $1,000,000 Public Records
• 2005-08-23 Sold (Public Records) $110,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $3,536 · -0.5% YoY. Source: county tax records.