217 Settles Dr · Cathedral City, CA 92234

$125,000

2 bd · 2.0 ba · 1,976 sqft · Manufactured public records · 6 Days on market

Built 1984 Est $188k · 33% under

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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 +3.3/5.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover the potential in this spacious triple-wide manufactured home offering 1,976 square feet of living space with 2 bedrooms and 2 full baths. Built in 1984 and maintained in its original condition, this home presents a wonderful opportunity for a buyer to update and customize to their own style and taste. Being sold As-Is, the seller has proactively completed a property inspection and is offering a credit at the close of escrow for minor repairs and handyman items. Ideally situated alongside a convenient breezeway leading directly to the community clubhouse, this home enjoys a desirable location within the park. The generous floor plan provides ample living and entertaining space, maki

Key facts

• Garage
• Community pool
• Built 1984

Property features AI

Finance

• Other: Listing is cash sale terms; Property sold as-is with pet restrictions; Short-term rentals and leasing not permitted
• Financial info: Land is leasehold; annual land lease amount $11,700
• HOA & community: Senior community; Gated community; No monthly association fee listed

Exterior

• Parking: Attached carport; 2 carport spaces; 2 total parking spaces; Guest parking
• Security: Gated community; 24-hour security; Resident manager on site
• Utilities: Water provided by C.V.W.D. (water district); Sewer connected and paid; Cable TV available
• Home design: Single-story (one level) with ground-level entry; Triple-wide mobile home (Barrington model); Senior park location (The Canyon)
• Construction: Fleetwood manufactured home; Triple-wide mobile home; One shed on the property
• Exterior features: 24-hour security with resident manager; Community security and automatic gate; Community in-ground pool with safety gate; Community heated spa / hot tub; Mountain views; Detached property; Located on a state road frontage

Interior

• Flooring: Carpet; Laminate; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central heating plus fireplace(s); Air conditioning; Evaporative cooling; Ceiling fans
• Interior features: Wet bar; Blinds and stained glass window treatments; Unfurnished
• Laundry & utility: Laundry in an individual room or dedicated laundry area; Water heater unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $125k).
• Cap rate 21.9% 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; 26 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% 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).
• At $3,016/mo this rent would consume 49% of the median local household income ($74k/yr) (locally 1682% 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 $864 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 $35k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

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 $125,000

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. 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?
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: 2.41% ✓
• Cap rate: 21.93%
• Cash-on-cash: 55.86%
• DSCR: 3.49
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $187,720
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
130 Hester Dr	0.18mi	2/2.0	2,003 (+1%)	4mo	$159,000	$79	86
57 Coble Dr	0.15mi	2/2.0	1,920 (-3%)	3mo	$154,000	$80	86
181 Zacharia Dr	0.23mi	2/2.0	1,800 (-9%)	1mo	$117,000	$65	73
10 Coble	0.18mi	2/2.0	2,100 (+6%)	13mo	$200,000	$95	70
228 Settles Dr	0.02mi	2/2.0	1,728 (-13%)	12mo	$165,000	$95	68
82 Zacharia	0.12mi	2/2.0	1,868 (-6%)	21mo	$200,000	$107	68
224 Settles Dr	0.04mi	3/2.0 (+1)	1,744 (-12%)	13mo	$225,000	$129	62
222 Settles Dr	0.05mi	3/2.0 (+1)	1,840 (-7%)	22mo	$196,000	$107	62
307 Coble Dr	0.20mi	3/2.0 (+1)	1,701 (-14%)	14mo	$158,000	$93	51
176 Zacharia Dr	0.15mi	3/3.0 (+1)	1,710 (-14%)	17mo	$128,500	$75	47

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: 54.4%
• Equity multiple: 3.40×
• Total profit: $84,150
• Equity at exit: $18,638

10-year hold

• IRR: 59.6%
• Equity multiple: 6.99×
• Total profit: $209,549
• Equity at exit: $10,808

Cash invested: $35,000 (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 92234

• Home prices YoY: -27.7%
• Rents YoY: 3.2%
• Active inventory: 525
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $3,016 high
• Mortgage (P&I): −$656
• Tax from tax record: −$46 /mo · $547/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$633
• Net cashflow: $1,629

Break-even live

Break-even rent $953

Max offer price $125,000

Occupancy floor 41%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 26 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	7d	1	0.17mi
68153 Lakeland Dr Cathedral City, CA	2.0	2.0	1255	$2,500	$1.99	24d	1	0.18mi
68368 Calle Leon Cathedral City, CA	2.0	2.0	1406	$3,790	$2.70	14d	1	0.24mi
68368 Calle Leon Cathedral City, CA	2.0	2.0	1406	$3,790	$2.70	43d	1	0.24mi
33892 Sky Blue Water Trl Cathedral City, CA	3.0	2.0	1352	$2,800	$2.07	4d	1	0.31mi
35200 Cathedral Canyon Dr Unit B10 Cathedral City, CA	2.0	2.0	1384	$2,600	$1.88	43d	1	0.55mi
35200 Cathedral Canyon Dr Unit H64 Cathedral City, CA	2.0	2.0	1375	$2,500	$1.82	43d	1	0.58mi
69180 Victoria Dr #8 Cathedral City, CA	3.0	2.0	1230	$1,995	$1.62	2d	1	0.58mi
33387 Shifting Sands Trl Unit 2 Cathedral City, CA	2.0	2.0	1300	$1,999	$1.54	24d	1	0.60mi
68859 Paseo Real Cathedral City, CA	2.0	2.0	1406	$3,960	$2.82	43d	1	0.63mi
68859 Paseo Real Cathedral City, CA	2.0	2.0	1406	$3,960	$2.82	14d	1	0.63mi
34750 Marcia Rd Unit 02 Cathedral City, CA	3.0	2.0	1325	$2,000	$1.51	17d	1	0.67mi
32790 Aurora Vista Rd Cathedral City, CA	3.0	3.0	2037	$3,300	$1.62	43d	1	0.72mi
69200 Nilda Dr Cathedral City, CA	3.0	2.0	1330	$2,495	$1.88	21d	1	0.78mi
68882 Calle Mula Cathedral City, CA	2.0	2.0	1714	$2,500	$1.46	20d	1	0.83mi
5951 Montecito Dr #5 Palm Springs, CA	3.0	2.5	1551	$2,300	$1.48	43d	1	0.95mi
99 Shoreline Dr Rancho Mirage, CA	3.0	3.0	2102	$4,000	$1.90	43d	1	0.95mi
26 Pueblo Vista Dr Palm Springs, CA	3.0	2.0	1487	$3,200	$2.15	43d	1	1.00mi
2420 Los Coyotes Dr Palm Springs, CA	2.0	3.0	1608	$2,600	$1.62	43d	1	1.05mi
34361 Denise Way Rancho Mirage, CA	3.0	2.0	1400	$2,800	$2.00	43d	1	1.06mi
59 Shoreline Dr Rancho Mirage, CA	3.0	3.5	2235	$3,995	$1.79	43d	1	1.07mi
37 Shoreline Dr Rancho Mirage, CA	3.0	3.0	1928	$3,650	$1.89	43d	1	1.13mi
152 Estrada Way #152 Cathedral City, CA	2.0	2.0	1500	$2,200	$1.47	43d	1	1.15mi
159 Estrada Way Cathedral City, CA	3.0	2.0	1800	$2,850	$1.58	43d	1	1.18mi
5314 Los Coyotes Dr Palm Springs, CA	3.0	3.0	1550	$2,600	$1.68	19d	1	1.20mi
35349 Rush Ln Cathedral City, CA	3.0	3.0	2196	$3,895	$1.77	23d	1	1.20mi

Listing history 6 events

1. 2026-06-18
   days on market $125,000 Active 6 DOM
2. 2026-06-17
   days on market $125,000 Active 5 DOM
3. 2026-06-16
   days on market $125,000 Active 4 DOM
4. 2026-06-15
   days on market $125,000 Active 3 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $125,000 Active 1 DOM

ⓘ 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: $547 · $46/mo
• Projected year-2 tax: $950 · $79/mo
• Expected delta: +$403/yr (+$34/mo · 73.8%)

ⓘ 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,186
• − Mortgage interest: −$7,002
• − Property taxes: −$547
• − Insurance: −$625
• − Repairs & maintenance: −$2,895
• − Management: −$2,895
• − Depreciation: −$3,636
• Taxable income: $18,587
• Est. tax owed @ 24.0%: −$4,461
• After-tax cash flow: $15,089/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

1 event — show timeline

• 2026-06-11 Listed $125,000 GPSMLS

Property tax history

-2.9%/yr

Latest (2025): $547 · +1.5% YoY. Source: county tax records.