626 Hospitality Dr · Rancho Mirage, CA 92270

$529,000

3 bd · 3.0 ba · 2,420 sqft · Condo public records · 102 Days on market

Built 1980 $219/sqft · 9% below area Est $582k · 9% under $794/mo HOA · 14% of rent

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Why this score? — see what drove the C- 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 +17.3/30.0
• ARV discount +11.6/15.0
• 1% rule +6.1/10.0
• DSCR +5.4/10.0
• 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

Welcome to this spacious 3 bedrooms 3 bath 2,420 SF. Mission Hills Country Club single story near to Club House . rooftop solar lease , open kitchen and more. ( pools, spas, tennis and pickleball courts. This Beautifully Home stunning views from backyard and kitchen and living area.

Key facts

• $794 HOA
• 2 garage spots
• Community pool

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $529k.

Deal economics

• At list price, monthly cash flow is $389 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $529k).
• Recommended offer: $481k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% 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 $5,851/mo this rent would consume 65% 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 $16k 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 102 days — a 9% lower offer ($481k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $481,390 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.11% ✓
• Cap rate: 7.18%
• Cash-on-cash: 3.15%
• DSCR: 1.14
• GRM: 7.5

CMA / ARV

• ARV (median comp): $582,202
• List price: $529,000
• Delta: -9.14%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -10.3%
• Equity multiple: 0.62×
• Total profit: $-56,217
• Equity at exit: $78,876

10-year hold

• IRR: 0.2%
• Equity multiple: 1.02×
• Total profit: $2,544
• Equity at exit: $45,738

Cash invested: $148,120 (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: 7.5×

Monthly cashflow live

• Estimated rent: $5,851 high
• Mortgage (P&I): −$2,774
• Tax from tax record: −$444 /mo · $5,330/yr
• Insurance: −$220
• HOA: −$794
• Vacancy / Maint / Mgmt: −$1,229
• Net cashflow: $389

Break-even live

Break-even rent $5,358

Max offer price $529,000

Occupancy floor 88%

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: $132,250
• Closing costs: $15,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
624 Hospitality Dr Rancho Mirage, CA	2.0	2.0	2000	$3,295	$1.65	43d	1	0.04mi
645 Hospitality Dr Rancho Mirage, CA	3.0	3.0	2727	$4,300	$1.58	43d	1	0.15mi
9 Via Santanella Rancho Mirage, CA	3.0	4.0	3108	$11,999	$3.86	43d	1	0.37mi
522 Desert West Dr Rancho Mirage, CA	2.0	2.0	1984	$4,500	$2.27	43d	1	0.50mi
35018 Mission Hills Dr Rancho Mirage, CA	3.0	3.0	3066	$7,500	$2.45	16d	1	0.53mi
35018 Mission Hills Dr Rancho Mirage, CA	3.0	3.0	3066	$7,500	$2.45	43d	1	0.53mi
507 Desert West Dr Rancho Mirage, CA	3.0	2.0	2265	$8,500	$3.75	43d	1	0.57mi
714 Inverness Dr Rancho Mirage, CA	3.0	3.0	2227	$3,500	$1.57	43d	1	0.59mi
9 Loch Ness Lake Ct Rancho Mirage, CA	4.0	4.5	2373	$5,000	$2.11	43d	1	0.62mi
37 Shoreline Dr Rancho Mirage, CA	3.0	3.0	1928	$3,650	$1.89	43d	1	0.62mi
99 Shoreline Dr Rancho Mirage, CA	3.0	3.0	2102	$4,000	$1.90	43d	1	0.64mi
278 Loch Lomond Rd Rancho Mirage, CA	4.0	4.0	2471	$12,000	$4.86	43d	1	0.68mi
59 Shoreline Dr Rancho Mirage, CA	3.0	3.5	2235	$3,995	$1.79	43d	1	0.68mi
35082 Mission Hills Dr Rancho Mirage, CA	2.0	2.5	1624	$3,250	$2.00	12d	1	0.71mi
913 Inverness Dr Rancho Mirage, CA	3.0	3.0	2690	$6,800	$2.53	43d	1	0.73mi
35090 Mission Hills Dr Rancho Mirage, CA	2.0	2.0	1596	$3,950	$2.47	24d	1	0.73mi
136 Royal Saint Georges Way Rancho Mirage, CA	3.0	3.0	3349	$13,000	$3.88	20d	1	0.75mi
464 Sunningdale Dr Rancho Mirage, CA	3.0	3.0	1751	$6,000	$3.43	43d	1	0.75mi
24 Via Las Flores Rancho Mirage, CA	2.0	2.0	2331	$6,500	$2.79	43d	1	0.76mi
267 Loch Lomond Rd Rancho Mirage, CA	4.0	5.0	3038	$13,000	$4.28	43d	1	0.78mi
253 Loch Lomond Rd Rancho Mirage, CA	3.0	4.0	2452	$11,900	$4.85	43d	1	0.81mi
96 Via Bella Rancho Mirage, CA	3.0	3.5	3006	$13,000	$4.32	43d	1	0.81mi
13 Vista Mirage Way Rancho Mirage, CA	3.0	2.0	2071	$3,700	$1.79	44d	1	0.84mi
88 Via Las Flores Rancho Mirage, CA	3.0	2.5	2333	$5,000	$2.14	43d	1	0.94mi
829 Inverness Dr Rancho Mirage, CA	4.0	3.0	2527	$11,000	$4.35	12d	1	0.98mi
38 Burgundy Rancho Mirage, CA	3.0	3.0	2726	$4,500	$1.65	18d	1	1.02mi
71 Via Las Flores Rancho Mirage, CA	3.0	3.5	2724	$5,900	$2.17	3d	1	1.02mi
20 Lincoln Pl Rancho Mirage, CA	3.0	3.5	2700	$3,995	$1.48	43d	1	1.02mi
41 Lincoln Pl Rancho Mirage, CA	3.0	3.0	2272	$4,900	$2.16	43d	1	1.04mi
21 Via Bella Rancho Mirage, CA	3.0	2.0	2331	$3,900	$1.67	24d	1	1.08mi
20 Via Bella Rancho Mirage, CA	3.0	2.5	2367	$3,995	$1.69	22d	1	1.11mi
39 Calle del Norte Rancho Mirage, CA	3.0	4.5	3267	$10,000	$3.06	43d	1	1.11mi
39 Barolo Rancho Mirage, CA	2.0	2.5	2509	$10,000	$3.99	43d	1	1.12mi
18 Via Bella Rancho Mirage, CA	3.0	3.0	2333	$5,200	$2.23	43d	1	1.12mi
69 San Marino Cir Rancho Mirage, CA	3.0	2.5	2601	$3,795	$1.46	22d	1	1.16mi
70895 Ironwood Dr Rancho Mirage, CA	4.0	2.5	2575	$7,995	$3.10	5d	1	1.27mi
42 Colonial Dr Rancho Mirage, CA	3.0	3.0	2005	$3,600	$1.80	22d	1	1.32mi
42 Colonial Dr Rancho Mirage, CA	3.0	3.0	2005	$3,600	$1.80	3d	1	1.32mi
46 Vintage Rancho Mirage, CA	2.0	2.0	1657	$2,995	$1.81	43d	1	1.35mi
54 Pine Valley Dr Rancho Mirage, CA	3.0	2.0	1620	$5,000	$3.09	43d	1	1.38mi

HOA detail condo

• Monthly dues: $794 · $9,528/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $529,000 Active 102 DOM
2. 2026-06-17
   days on market $529,000 Active 101 DOM
3. 2026-06-16
   days on market $529,000 Active 100 DOM
4. 2026-06-15
   days on market $529,000 Active 99 DOM
5. 2026-06-13
   days on market $529,000 Active 97 DOM
6. 2026-06-13
   days on market $529,000 Active 96 DOM
7. 2026-06-09
   days on market $529,000 Active 93 DOM
8. 2026-06-08
   days on market $529,000 Active 92 DOM
9. 2026-06-07
   days on market $529,000 Active 91 DOM
10. 2026-06-04
    days on market $529,000 Active 88 DOM
11. 2026-06-03
    days on market $529,000 Active 87 DOM
12. 2026-06-02
    days on market $529,000 Active 86 DOM
13. 2026-06-01
    days on market $529,000 Active 85 DOM
14. 2026-05-31
    days on market $529,000 Active 84 DOM
15. 2026-05-01
    status Active 283-char remark

    Show marketing remark (283 chars)

    Welcome to this spacious 3 bedrooms 3 bath 2,420 SF. Mission Hills Country Club single story near to Club House . rooftop solar lease , open kitchen and more. ( pools, spas, tennis and pickleball courts. This Beautifully Home stunning views from backyard and kitchen and living area.

16. 2026-04-24
    status Pending 283-char remark

    Show marketing remark (283 chars)

    Welcome to this spacious 3 bedrooms 3 bath 2,420 SF. Mission Hills Country Club single story near to Club House . rooftop solar lease , open kitchen and more. ( pools, spas, tennis and pickleball courts. This Beautifully Home stunning views from backyard and kitchen and living area.

17. 2026-02-28
    listed $529,000 Active 283-char remark

    Show marketing remark (283 chars)

    Welcome to this spacious 3 bedrooms 3 bath 2,420 SF. Mission Hills Country Club single story near to Club House . rooftop solar lease , open kitchen and more. ( pools, spas, tennis and pickleball courts. This Beautifully Home stunning views from backyard and kitchen and living area.

18. 1999-04-23
    historical
19. 1999-02-15
    listed $399,000

ⓘ 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: $5,330 · $444/mo
• Projected year-2 tax: $5,330 · $444/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 2/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥113°F today · 17 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: $70,208
• − Mortgage interest: −$29,632
• − Property taxes: −$5,330
• − Insurance: −$2,645
• − Repairs & maintenance: −$5,617
• − Management: −$5,617
• − HOA: −$9,528
• − Depreciation: −$15,389
• Taxable loss: −$3,550
• Est. tax savings @ 24.0%: +$852
• After-tax cash flow: $5,523/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

+32.6% since first listed

5 events — show timeline

• 2026-05-01 Relisted — GPSMLS
• 2026-04-24 Pending — GPSMLS
• 2026-02-28 Listed $529,000 GPSMLS
• 1999-04-23 Listing Removed — GPSMLS
• 1999-02-15 Listed $399,000 GPSMLS

Property tax history

+2.1%/yr

Latest (2025): $5,330 · -1.5% YoY. Source: county tax records.