32505 Candlewood Dr #22 · Cathedral City, CA 92234

$205,000

1 bd · 1.0 ba · 772 sqft · Condo public records · 37 Days on market

Built 1985 $266/sqft · 11% below area Est $230k · 11% under $430/mo HOA · 22% of rent

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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 +12.4/15.0
• Cash flow +10.3/30.0
• 1% rule +4.7/10.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• DSCR +3.0/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this light, bright, and spacious 1-bedroom, 1-bath condo located in the heart of Cathedral City. Offering 772 square feet of open-concept living space, this property is full of potential and presents an incredible opportunity for a buyer to update, customize, and truly make it their own. The functional layout features a generous living area filled with natural light, creating an inviting atmosphere throughout. The open flow between the living, dining, and kitchen spaces provides a comfortable setting for everyday living and entertaining alike. Ideally situated with convenient access to the I-10 freeway, this location makes commuting throughout the Coachella Valley simple and convenient. Enjoy being just a short drive from the shopping, dining, nightlife, and entertainment of downtown Palm Springs while still benefiting from the affordability and central location Cathedral City has to offer. Whether you are searching for a primary residence, weekend retreat, or investment opportunity, this condo is priced to sell and ready for its next chapter.

Key facts

• Generous living area
• Natural light
• $430 HOA

Tags

• OPEN CONCEPT LIVING SPACE
• GENEROUS LIVING AREA
• NATURAL LIGHT
• CONVENIENT ACCESS TO I-10

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $205k.

Deal economics

• At list price, monthly cash flow is $-111 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (9.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (2.7% below list).
• Recommended offer: $185k (9.6% below list) — sets the bar for cash-flow.

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+, amenities D-, 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: Agua Caliente Elementary (626 students, 97% FRL); Nellie N. Coffman Middle (953 students, 98% FRL); Cathedral City High (math 25% / reading 61%, grade F, #460 of 1,170 statewide, top 40%, 1,395 students, 98% FRL) — zoned schools average 98% FRL vs 73% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.2%/yr); 529 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• This rent runs 33% of the median local income ($74k/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 $6k 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 37 days — a 3% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $205k implies a 412% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• 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 $185,349 (9.6% 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 37 days. Have you received any prior offers? Is the seller open to a 10% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.97% ✗
• Cap rate: 5.64%
• Cash-on-cash: -2.33%
• DSCR: 0.90
• GRM: 8.6

CMA / ARV

• ARV (median comp): $229,985
• List price: $205,000
• Delta: -10.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.22% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.31×
• Total profit: $-39,665
• Equity at exit: $30,566

10-year hold

• IRR: -11.8%
• Equity multiple: 0.29×
• Total profit: $-41,041
• Equity at exit: $17,725

Cash invested: $57,400 (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: 529
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,995 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$97 /mo · $1,160/yr
• Insurance: −$85
• HOA: −$430
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $-111

Break-even live

Break-even rent $2,136

Max offer price $185,349

Occupancy floor —

Sensitivity live

Price	-10% $5	-5% $-53	+0% $-111	+5% $-169	+10% $-227
Rent	-10% $-269	-5% $-190	+0% $-111	+5% $-32	+10% $46
Rate	-1.0pp $-8	-0.5pp $-59	base $-111	+0.5pp $-164	+1.0pp $-218

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33030 Shifting Sands Trl Apt 4 Cathedral City, CA	2.0	1.0	821	$1,599	$1.95	26d	1	0.25mi
32200 Cathedral Canyon Dr #31 Cathedral City, CA	1.0	1.0	740	$1,550	$2.09	26d	1	0.48mi
31520 Landau Blvd Unit 3 Cathedral City, CA	1.0	1.0	950	$1,650	$1.74	0d	1	0.52mi
33495 Cathedral Canyon Dr Cathedral City, CA	2.0	1.0	1100	$2,200	$2.00	45d	1	0.58mi
33495 Cathedral Canyon Dr Unit B Cathedral City, CA	2.0	1.0	1100	$2,100	$1.91	45d	1	0.58mi
32150 Aurora Vista Rd Cathedral City, CA	2.0	1.0	1100	$2,195	$2.00	45d	1	0.66mi
32150 Aurora Vista Rd Unit C Cathedral City, CA	2.0	1.0	1100	$2,395	$2.18	45d	1	0.66mi
31200 Landau Blvd Cathedral City, CA	2.0–3.0	2.0	1016	$2,300	$2.26	45d	3	0.69mi
31200 Landau Blvd Cathedral City, CA	2.0–3.0	2.0	1016	$2,195	$2.16	14d	4	0.69mi
Lawrence Crossley Rd Unit 62 Palm Springs, CA	2.0	2.0	885	$2,100	$2.37	45d	1	0.69mi
32585 Cielo Vista Rd Cathedral City, CA	2.0	2.0	840	$2,000	$2.38	26d	1	0.69mi
32425 Rancho Vista Dr Unit A Cathedral City, CA	2.0	1.0	754	$1,950	$2.59	9d	1	0.76mi
68185 Alcita Rd Cathedral City, CA	2.0	2.0	975	$1,895	$1.94	3d	1	0.81mi
33255 Date Palm Dr Cathedral City, CA	2.0	2.0	1050	$1,795	$1.71	45d	1	0.93mi
2010 Lawrence Crossley Rd Unit 8 Palm Springs, CA	2.0	1.5	993	$1,895	$1.91	15d	1	1.02mi
1 Lakeview Cir Cathedral City, CA	2.0	2.0	1000	$2,300	$2.30	45d	1	1.03mi
69155 Dinah Shore Dr Cathedral City, CA	2.0	2.0	1100	$1,795	$1.63	45d	1	1.32mi
68080 Risueno Rd Cathedral City, CA	2.0	1.0	800	$2,200	$2.75	16d	1	1.41mi

HOA detail condo

• Monthly dues: $430 · $5,160/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $205,000 Active 37 DOM
2. 2026-06-18
   days on market $205,000 Active 34 DOM
3. 2026-06-17
   days on market $205,000 Active 33 DOM
4. 2026-06-16
   days on market $205,000 Active 32 DOM
5. 2026-06-15
   days on market $205,000 Active 31 DOM
6. 2026-06-13
   days on market $205,000 Active 29 DOM
7. 2026-06-13
   days on market $205,000 Active 28 DOM
8. 2026-06-09
   days on market $205,000 Active 25 DOM
9. 2026-06-08
   days on market $205,000 Active 24 DOM
10. 2026-06-07
    days on market $205,000 Active 23 DOM
11. 2026-06-04
    days on market $205,000 Active 20 DOM
12. 2026-06-03
    days on market $205,000 Active 19 DOM
13. 2026-06-02
    days on market $205,000 Active 18 DOM
14. 2026-06-01
    days on market $205,000 Active 17 DOM
15. 2026-05-31
    days on market $205,000 Active 16 DOM
16. 2026-05-15
    listed $205,000 Active 1075-char remark

    Show marketing remark (1075 chars)

    Welcome home to this light, bright, and spacious 1-bedroom, 1-bath condo located in the heart of Cathedral City. Offering 772 square feet of open-concept living space, this property is full of potential and presents an incredible opportunity for a buyer to update, customize, and truly make it their own. The functional layout features a generous living area filled with natural light, creating an inviting atmosphere throughout. The open flow between the living, dining, and kitchen spaces provides a comfortable setting for everyday living and entertaining alike. Ideally situated with convenient access to the I-10 freeway, this location makes commuting throughout the Coachella Valley simple and convenient. Enjoy being just a short drive from the shopping, dining, nightlife, and entertainment of downtown Palm Springs while still benefiting from the affordability and central location Cathedral City has to offer. Whether you are searching for a primary residence, weekend retreat, or investment opportunity, this condo is priced to sell and ready for its next chapter.

17. 1993-06-17
    soldstatus $40,000

ⓘ 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: $1,160 · $97/mo
• Projected year-2 tax: $1,558 · $130/mo
• Expected delta: +$398/yr (+$33/mo · 34.3%)

ⓘ 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 1/10 Low
• 🌡 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: $23,938
• − Mortgage interest: −$11,483
• − Property taxes: −$1,160
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,915
• − Management: −$1,915
• − HOA: −$5,160
• − Depreciation: −$5,964
• Taxable loss: −$4,684
• Est. tax savings @ 24.0%: +$1,124
• After-tax cash flow: $-211/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

+412.5% since first listed

2 events — show timeline

• 2026-05-15 Listed $205,000 GPSMLS
• 1993-06-17 Sold (Public Records) $40,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,160 · +1.8% YoY. Source: county tax records.