470 E Avenida Olancha · Palm Springs, CA 92264

$175,000

3 bd · 5.0 ba · 1,550 sqft · MultiFamily public records · 26 Days on market

Built 1949 8,712 sqft lot $113/sqft · 519% above area

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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
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

New co-ownership opportunity by Pacaso: Own one-eighth of Bacana, a professionally managed, turnkey home. Bacana is a 5-bedroom, 5-bathroom compound perfectly situated at the end of a little cul-de-sac in sunny South Palm Springs. Overlooking the beautiful San Jacinto mountain range, this flexible vacation home is designed to be simple, fresh, and efficient. The compound has been completely reimagined to accommodate families, friends and large groups with fully furnished designer rooms, efficient kitchens, top-of-the-line appliances and original artwork. The five micro living spaces have three full kitchens, two mini bars and five spa-like bathrooms. The compound has been designed to provid

Key facts

• Turnkey home
• Cul-de-sac
• Efficient kitchens

Tags

• CO-OWNERSHIP OPPORTUNITY
• TURNKEY HOME
• CUL-DE-SAC
• FULLY FURNISHED DESIGNER ROOMS
• EFFICIENT KITCHENS
• TOP-OF-THE-LINE APPLIANCES

Property features AI

Finance

• Other: Fee simple land
• HOA & community: No monthly association fees

Exterior

• Parking: Driveway parking; Three total parking spaces (all uncovered/assigned)
• Security: Closed-circuit cameras; Card/code access
• Utilities: Sewer: connected and paid; PUD: no
• Home design: Single-story home; One level; Year built (owner-provided)
• Construction: In-ground pool and spa
• Exterior features: Built-in gas BBQ; Covered patio; Private in-ground saltwater pool; Private in-ground spa/hot tub; Sprinkler system; Mountain, pool and panoramic views; Updated/remodeled condition; Detached property

Interior

• Kitchen: Refrigerator; Freezer; Dishwasher
• Flooring: Stained concrete
• Bathrooms: Five full bathrooms
• Heating & cooling: Central heating; Air conditioning
• Interior features: Ground-level, no-step entry; Fully furnished; Fireplace (patio)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/5.0-bath multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.2% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• At $4,099/mo this rent would consume 63% of the median local household income ($78k/yr) (locally 1215% 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 $1k of loan paydown is wiped out by about $5k 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 + 0.0% rent growth), your $49k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 11y 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

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 9→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,375 (1.5% below list)

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.34% ✓
• Cap rate: 20.20%
• Cash-on-cash: 49.69%
• DSCR: 3.21
• GRM: 3.6

CMA / ARV

• ARV (median comp): $28,274
• List price: $175,000
• Delta: 518.94%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 43.9%
• Equity multiple: 2.81×
• Total profit: $88,909
• Equity at exit: $26,093

10-year hold

• IRR: 48.5%
• Equity multiple: 5.03×
• Total profit: $197,635
• Equity at exit: $15,131

Cash invested: $49,000 (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 92264

• Rents YoY: -0.4%
• Active inventory: 498
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $4,099 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$861
• Net cashflow: $2,029

Break-even live

Break-even rent $1,531

Max offer price $175,000

Occupancy floor 46%

Sensitivity live

Price	-10% $2,150	-5% $2,089	+0% $2,029	+5% $1,968	+10% $1,908
Rent	-10% $1,705	-5% $1,867	+0% $2,029	+5% $2,191	+10% $2,353
Rate	-1.0pp $2,117	-0.5pp $2,073	base $2,029	+0.5pp $1,983	+1.0pp $1,937

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$4,098
Total (2 units)			$4,099

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Paseo Soleado Unit 497 Palm Springs, CA	3.0	2.5	1812	$3,000	$1.66	46d	1	0.08mi
500 Paseo Soleado Unit 485 Palm Springs, CA	2.0	2.5	1712	$2,800	$1.64	46d	1	0.08mi
780 E Palm Canyon Dr #202 Palm Springs, CA	2.0	2.0	1305	$2,950	$2.26	26d	1	0.14mi
1425 Via Soledad Unit 1 Palm Springs, CA	2.0	2.0	1050	$2,500	$2.38	26d	1	0.18mi
1425 Via Soledad Unit 1 Palm Springs, CA	2.0	2.0	1050	$2,500	$2.38	46d	1	0.18mi
1428 S Camino Real Palm Springs, CA	2.0	2.0	1054	$2,300	$2.18	46d	1	0.22mi
791 E Twin Palms Dr Palm Springs, CA	3.0	2.0	1793	$9,700	$5.41	46d	1	0.26mi
965 E Twin Palms Dr Palm Springs, CA	3.0	2.0	1600	$15,000	$9.38	46d	1	0.32mi
1201 Surrey Ln Palm Springs, CA	2.0	2.5	1896	$5,500	$2.90	46d	1	0.38mi
1150 E Palm Canyon Dr #60 Palm Springs, CA	2.0	2.0	1240	$2,595	$2.09	26d	1	0.44mi
722 E San Lorenzo Rd Palm Springs, CA	3.0	1.0–2.0	750	$2,425	$3.23	10d	3	0.46mi
722 E San Lorenzo Rd Unit 02 Palm Springs, CA	3.0	2.0	1200	$2,425	$2.02	6d	1	0.46mi
1947 S Joshua Tree Pl Palm Springs, CA	3.0	2.5	1928	$6,000	$3.11	26d	1	0.48mi
157 Calle Bravo Palm Springs, CA	2.0	3.0	1694	$2,950	$1.74	1d	1	0.50mi
1970 S Joshua Tree Pl Palm Springs, CA	3.0	2.0	1957	$8,175	$4.18	17d	1	0.52mi
1970 S Joshua Tree Pl Palm Springs, CA	3.0	2.0	1957	$8,175	$4.18	46d	1	0.52mi
1486 E Palm Tree Dr Palm Springs, CA	2.0	2.0	1300	$3,000	$2.31	46d	1	0.62mi
251 E La Verne Way Unit F Palm Springs, CA	2.0	2.0	1345	$2,550	$1.90	26d	1	0.70mi
1041 S La Verne Way Palm Springs, CA	2.0	2.0	1325	$2,800	$2.11	26d	1	0.71mi
1423 E San Lorenzo Rd Palm Springs, CA	4.0	2.0	1824	$4,200	$2.30	26d	1	0.75mi
2220 S Calle Palo Fierro #23 Palm Springs, CA	2.0	2.0	1200	$2,995	$2.50	13d	1	0.75mi
451 E Via Carisma #72 Palm Springs, CA	2.0	2.0	1170	$2,200	$1.88	26d	1	0.76mi
1331 S Sunrise Way Palm Springs, CA	3.0	3.0	2160	$7,000	$3.24	46d	1	0.80mi
1111 E Ramon Rd #87 Palm Springs, CA	3.0	2.0	1313	$4,500	$3.43	19d	1	0.83mi
1710 E Sonora Rd Palm Springs, CA	2.0	2.0	1391	$2,800	$2.01	26d	1	0.83mi
250 E San Jose Rd Palm Springs, CA	2.0–3.0	2.0	1187	$2,400	$2.02	46d	2	0.85mi
250 E San Jose Rd #63 Palm Springs, CA	2.0	2.0	1152	$2,400	$2.08	26d	1	0.85mi
1745 Capri Cir Palm Springs, CA	2.0	2.0	1200	$2,495	$2.08	26d	1	0.91mi
1111 E Ramon Rd Palm Springs, CA	2.0–3.0	2.0	1191	$4,500	$3.78	19d	2	0.98mi
1111 E Ramon Rd Palm Springs, CA	2.0–3.0	2.0	1191	$4,500	$3.78	26d	2	0.98mi
453 Village Square E Palm Springs, CA	2.0	2.0	1400	$3,000	$2.14	19d	1	0.99mi
874 Village Square N Palm Springs, CA	2.0	2.0	1680	$3,000	$1.79	20d	1	1.02mi
998 Village Square N Palm Springs, CA	2.0	2.0	1588	$3,000	$1.89	26d	1	1.03mi
1050 E Ramon Rd Palm Springs, CA	2.0	2.0	1253	$3,815	$3.04	46d	2	1.04mi
1050 E Ramon Rd Palm Springs, CA	2.0	2.0	1135	$3,264	$2.88	1d	3	1.04mi
3000 Cahuilla Hills Dr Palm Springs, CA	3.0	3.0	2120	$7,000	$3.30	46d	1	1.12mi
17 Cahuilla Hills Dr Palm Springs, CA	2.0	2.0	1965	$10,500	$5.34	46d	1	1.13mi
900 E Saturnino Rd Palm Springs, CA	1.0–3.0	1.0–2.0	1020	$2,575	$2.52	0d	6	1.14mi
255 E Avenida Granada #324 Palm Springs, CA	2.0	2.0	1198	$2,100	$1.75	10d	1	1.23mi
255 E Avenida Granada #525 Palm Springs, CA	2.0	2.0	1198	$2,195	$1.83	20d	1	1.23mi

Listing history 48 events

1. 2026-06-17
   status $175,000 Pending 26 DOM
2. 2026-06-17
   days on market $175,000 Active 26 DOM
3. 2026-06-16
   days on market $175,000 Active 25 DOM
4. 2026-06-15
   days on market $175,000 Active 24 DOM
5. 2026-06-13
   days on market $175,000 Active 22 DOM
6. 2026-06-13
   days on market $175,000 Active 21 DOM
7. 2026-06-09
   days on market $175,000 Active 18 DOM
8. 2026-06-08
   days on market $175,000 Active 17 DOM
9. 2026-06-07
   days on market $175,000 Active 16 DOM
10. 2026-06-04
    days on market $175,000 Active 13 DOM
11. 2026-06-03
    days on market $175,000 Active 12 DOM
12. 2026-06-02
    days on market $175,000 Active 11 DOM
13. 2026-06-01
    days on market $175,000 Active 10 DOM
14. 2026-05-31
    days on market $175,000 Active 9 DOM
15. 2026-03-12
    listed $175,000 Active 1245-char remark
16. 2026-02-24
    historical
17. 2026-02-24
    historical
18. 2026-02-20
    listed $175,000 Active
19. 2026-02-04
    listed $175,000 Active
20. 2024-12-11
    historical
21. 2024-08-01
    listed $285,000 Active
22. 2024-02-13
    historical
23. 2023-10-09
    listed $285,000 Active
24. 2023-07-17
    historical
25. 2023-05-24
    historical
26. 2023-05-24
    listed $285,000 Active
27. 2022-11-22
    listed $285,000 Active
28. 2022-05-02
    historical
29. 2022-04-04
    listed $285,000 Active
30. 2021-09-02
    historical
31. 2021-07-15
    listed $285,000 Active
32. 2021-07-14
    historical
33. 2021-03-03
    soldstatus $285,000 Closed
34. 2021-03-03
    soldstatus $2,000,000
35. 2021-03-03
    listed $285,000 Active
36. 2021-03-02
    soldstatus $2,000,000
37. 2021-02-18
    status Pending
38. 2021-01-26
    listed $285,000 Active
39. 2021-01-13
    listed $2,000,000
40. 2016-01-29
    soldstatus $440,000 Closed
41. 2016-01-29
    soldstatus $440,000 Closed
42. 2016-01-29
    soldstatus $440,000
43. 2016-01-19
    status Pending
44. 2015-12-24
    status Backup Offers Accepted
45. 2015-12-10
    listed $369,000 Active
46. 2015-12-09
    listed $369,000
47. 2000-10-12
    soldstatus $25,500
48. 1987-08-03
    soldstatus $110,000

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 9 d/yr ≥110°F today · 26 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: $49,188
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$3,935
• − Management: −$3,935
• − Depreciation: −$5,091
• Taxable income: $22,924
• Est. tax owed @ 24.0%: −$5,502
• After-tax cash flow: $18,844/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

+59.1% since first listed

37 events — show timeline

• 2026-06-17 Pending — GPSMLS
• 2026-05-22 Listed $175,000 GPSMLS
• 2026-05-20 Listing Removed — GPSMLS
• 2026-03-12 Listed $175,000 GPSMLS
• 2026-02-24 Listing Removed — GPSMLS
• 2026-02-24 Listing Removed — GPSMLS
• 2026-02-20 Listed $175,000 GPSMLS
• 2026-02-04 Listed $175,000 GPSMLS
• 2024-12-11 Listing Removed — GPSMLS
• 2024-08-01 Listed $285,000 GPSMLS
• 2024-02-13 Listing Removed — GPSMLS
• 2023-10-09 Listed $285,000 GPSMLS
• 2023-07-17 Listing Removed — GPSMLS
• 2023-05-24 Listing Removed — GPSMLS
• 2023-05-24 Listed $285,000 GPSMLS
• 2022-11-22 Listed $285,000 GPSMLS
• 2022-05-02 Listing Removed — GPSMLS
• 2022-04-04 Listed $285,000 GPSMLS
• 2021-09-02 Listing Removed — GPSMLS
• 2021-07-15 Listed $285,000 GPSMLS
• 2021-07-14 Listing Removed — GPSMLS
• 2021-03-03 Listed $285,000 GPSMLS
• 2021-03-03 Sold (MLS) $2,000,000 GPSMLS
• 2021-03-03 Sold (MLS) $285,000 GPSMLS
• 2021-03-02 Sold (Public Records) $2,000,000 Public Records
• 2021-02-18 Pending — GPSMLS
• 2021-01-26 Listed $285,000 GPSMLS
• 2021-01-13 Listed $2,000,000 GPSMLS
• 2016-01-29 Sold (MLS) $440,000 SDMLS
• 2016-01-29 Sold (MLS) $440,000 GPSMLS
• 2016-01-29 Sold (MLS) $440,000 GPSMLS
• 2016-01-19 Pending — GPSMLS
• 2015-12-24 Pending — GPSMLS
• 2015-12-10 Listed $369,000 GPSMLS
• 2015-12-09 Listed $369,000 SDMLS
• 2000-10-12 Sold (Public Records) $25,500 Public Records
• 1987-08-03 Sold (Public Records) $110,000 Public Records

Property tax history

+15.6%/yr

Latest (2025): $26,106 · -2.6% YoY. Source: county tax records.