31200 Landau Blvd #2202 · Cathedral City, CA 92234

$305,000

3 bd · 2.0 ba · 1,200 sqft · Condo public records · 24 Days on market

Built 1987 $520/mo HOA · 17% 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).

• Cash flow +13.1/30.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• DSCR +3.9/10.0
• 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 MLS

Welcome to Cathedral Springs, a desirable gated community offering relaxed desert living in the heart of Cathedral City. This bright and well-maintained condominium features a spacious open floor plan designed for comfortable everyday living and easy entertaining. The interior has been refreshed with new carpet, fresh interior paint, and tile flooring, creating a clean and move-in ready environment. The functional layout includes generous bedrooms, an inviting living and dining area, the convenience of in-unit laundry, and private outdoor space ideal for enjoying the peaceful surroundings. Residents of Cathedral Springs enjoy beautifully maintained grounds and resort-style amenities including multiple pools and spas, tennis courts, a fitness center, and clubhouse, all within a secure gated setting. Ideally located just minutes from shopping, dining, and the vibrant attractions of Palm Springs, this home offers the perfect combination of comfort, convenience, and the sought-after desert lifestyle.

Key facts

• $520 HOA
• 2 parking spots
• Community pool

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $305k.

Deal economics

• At list price, monthly cash flow is $-13 ($-153/yr) — negative.
• To cash-flow at today's rent, offer at most $303k (0.7% below list).
• Meets the 1% rule at list price ($3k rent vs $305k).
• Recommended offer: $300k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 5.1% in Cathedral City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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 $3,068/mo this rent would consume 50% 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 $2k of loan paydown is wiped out by about $9k 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 24 days — a 2% lower offer ($300k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y 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.
• Current owner paid $120k; list at $305k implies a 154% gain — meaningful room to come down on a strong offer.

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 $300,425 (1.5% 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.01% ✓
• Cap rate: 6.24%
• Cash-on-cash: -0.18%
• DSCR: 0.99
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.2%
• Equity multiple: 0.42×
• Total profit: $-49,304
• Equity at exit: $45,476

10-year hold

• IRR: -7.3%
• Equity multiple: 0.53×
• Total profit: $-40,162
• Equity at exit: $26,371

Cash invested: $85,400 (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: 525
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $3,068 high
• Mortgage (P&I): −$1,599
• Tax from tax record: −$190 /mo · $2,281/yr
• Insurance: −$127
• HOA: −$520
• Vacancy / Maint / Mgmt: −$644
• Net cashflow: $-13

Break-even live

Break-even rent $3,084

Max offer price $302,753

Occupancy floor 95%

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: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31200 Landau Blvd Cathedral City, CA	2.0–3.0	2.0	1016	$2,600	$2.56	12d	4	0.11mi
31200 Landau Blvd Cathedral City, CA	2.0–3.0	2.0	1016	$2,800	$2.76	43d	3	0.11mi
68145 Alcita Rd Cathedral City, CA	3.0	2.0	1347	$2,600	$1.93	5d	1	0.13mi
68185 Alcita Rd Cathedral City, CA	2.0	2.0	975	$1,895	$1.94	1d	1	0.17mi
31121 Avenida El Mundo Cathedral City, CA	3.0	2.0	1302	$3,000	$2.30	43d	1	0.32mi
68160 Modalo Rd Unit 68162 Cathedral City, CA	3.0	2.0	1000	$2,499	$2.50	14d	1	0.37mi
68080 Risueno Rd Cathedral City, CA	2.0	1.0	800	$2,200	$2.75	14d	1	0.65mi
29704 W Trancas Dr Cathedral City, CA	2.0	2.5	1425	$6,000	$4.21	43d	1	0.71mi
9 Lakeview Cir Cathedral City, CA	2.0	1.5	1152	$1,950	$1.69	43d	1	0.76mi
1 Lakeview Cir Cathedral City, CA	2.0	2.0	1000	$2,300	$2.30	43d	1	0.78mi
35 Lakeview Cir Cathedral City, CA	2.0	1.5	1152	$2,200	$1.91	43d	1	0.79mi
30125 Avenida Juarez Unit 30127 Cathedral City, CA	3.0	2.0	1000	$2,499	$2.50	14d	1	0.80mi
67727 S Natoma Dr Cathedral City, CA	2.0	3.0	1425	$4,500	$3.16	43d	1	0.84mi
32150 Aurora Vista Rd Cathedral City, CA	2.0	1.0	1100	$2,195	$2.00	43d	1	0.92mi
32150 Aurora Vista Rd Unit C Cathedral City, CA	2.0	1.0	1100	$2,395	$2.18	43d	1	0.92mi
30201 San Diego Dr Cathedral City, CA	3.0	2.0	1060	$2,700	$2.55	43d	1	0.94mi
29199 E Portales Dr Unit 702 Cathedral City, CA	2.0	2.0	1177	$4,200	$3.57	43d	1	1.00mi
33030 Shifting Sands Trl Apt 4 Cathedral City, CA	2.0	1.0	821	$1,599	$1.95	24d	1	1.02mi
29118 Desert Princess Dr Unit 702 Cathedral City, CA	2.0	2.0	1212	$4,200	$3.47	43d	1	1.02mi
67665 Lagos Way Cathedral City, CA	3.0	2.0	1285	$4,500	$3.50	43d	1	1.03mi
67595 Lagos Way Cathedral City, CA	3.0	3.0	1285	$3,500	$2.72	43d	1	1.04mi
68705 Tortuga Rd Cathedral City, CA	3.0	2.0	1248	$3,600	$2.88	43d	1	1.06mi
29017 W Natoma Dr Cathedral City, CA	2.0	2.0	1177	$2,395	$2.03	43d	1	1.08mi
28964 Desert Princess Dr Cathedral City, CA	2.0	2.0	1177	$2,700	$2.29	43d	1	1.09mi
28859 Desert Princess Dr Cathedral City, CA	3.0	2.0	1285	$3,700	$2.88	43d	1	1.09mi
28868 Isleta Ct Unit 702 Cathedral City, CA	2.0	2.0	1285	$4,900	$3.81	24d	1	1.10mi
28868 Isleta Ct Cathedral City, CA	2.0	2.0	1285	$4,900	$3.81	43d	1	1.10mi
32425 Rancho Vista Dr Unit A Cathedral City, CA	2.0	1.0	754	$1,950	$2.59	7d	1	1.11mi
28920 W Natoma Dr Cathedral City, CA	2.0	2.0	1177	$4,000	$3.40	43d	1	1.12mi
28914 Desert Princess Dr Unit 702 Palm Springs, CA	2.0	2.0	1212	$4,200	$3.47	24d	1	1.12mi
32585 Cielo Vista Rd Cathedral City, CA	2.0	2.0	840	$2,000	$2.38	24d	1	1.12mi
Lawrence Crossley Rd Unit 62 Palm Springs, CA	2.0	2.0	885	$2,100	$2.37	43d	1	1.13mi
29170 W Laguna Dr Cathedral City, CA	2.0	3.0	1425	$6,000	$4.21	43d	1	1.14mi
28827 Isleta Ct Cathedral City, CA	3.0	2.0	1285	$4,500	$3.50	43d	1	1.14mi
28764 Taos Ct Cathedral City, CA	2.0	2.0	1177	$4,400	$3.74	43d	1	1.16mi
69275 Kemper Ct Cathedral City, CA	3.0	2.0	1386	$3,850	$2.78	43d	1	1.17mi
28763 E Portales Dr Cathedral City, CA	2.0	2.0	984	$4,200	$4.27	7d	1	1.18mi
68325 Peladora Rd Cathedral City, CA	3.0	2.0	1320	$3,199	$2.42	13d	1	1.18mi
33387 Shifting Sands Trl Unit 2 Cathedral City, CA	2.0	2.0	1300	$1,999	$1.54	24d	1	1.19mi
68640 Tachevah Dr Cathedral City, CA	3.0	2.0	1290	$3,200	$2.48	24d	1	1.20mi

HOA detail condo

• Monthly dues: $520 · $6,240/yr
• Likely covers: landscapingpoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-04-30
   listed $305,000 Active 1011-char remark

   Show marketing remark (1011 chars)

   Welcome to Cathedral Springs, a desirable gated community offering relaxed desert living in the heart of Cathedral City. This bright and well-maintained condominium features a spacious open floor plan designed for comfortable everyday living and easy entertaining. The interior has been refreshed with new carpet, fresh interior paint, and tile flooring, creating a clean and move-in ready environment. The functional layout includes generous bedrooms, an inviting living and dining area, the convenience of in-unit laundry, and private outdoor space ideal for enjoying the peaceful surroundings. Residents of Cathedral Springs enjoy beautifully maintained grounds and resort-style amenities including multiple pools and spas, tennis courts, a fitness center, and clubhouse, all within a secure gated setting. Ideally located just minutes from shopping, dining, and the vibrant attractions of Palm Springs, this home offers the perfect combination of comfort, convenience, and the sought-after desert lifestyle.

2. 2026-03-17
   historical $305,000 1011-char remark

   Show marketing remark (1011 chars)

   Welcome to Cathedral Springs, a desirable gated community offering relaxed desert living in the heart of Cathedral City. This bright and well-maintained condominium features a spacious open floor plan designed for comfortable everyday living and easy entertaining. The interior has been refreshed with new carpet, fresh interior paint, and tile flooring, creating a clean and move-in ready environment. The functional layout includes generous bedrooms, an inviting living and dining area, the convenience of in-unit laundry, and private outdoor space ideal for enjoying the peaceful surroundings. Residents of Cathedral Springs enjoy beautifully maintained grounds and resort-style amenities including multiple pools and spas, tennis courts, a fitness center, and clubhouse, all within a secure gated setting. Ideally located just minutes from shopping, dining, and the vibrant attractions of Palm Springs, this home offers the perfect combination of comfort, convenience, and the sought-after desert lifestyle.

3. 2024-04-10
   historical $2,398
4. 2024-03-15
   listed $2,398
5. 2008-08-01
   historical
6. 2008-06-05
   historical
7. 2008-05-28
   listed $114,900
8. 2008-04-04
   historical
9. 2008-04-02
   price $125,000
10. 2008-04-02
    price $138,995
11. 2008-04-02
    price $139,995
12. 2008-04-01
    price $140,000
13. 2008-03-28
    price $149,000
14. 2008-03-27
    price $149,999
15. 2008-03-15
    price $150,000
16. 2008-03-09
    price $155,000
17. 2008-03-07
    price $159,000
18. 2007-12-08
    price $163,400
19. 2007-11-17
    price $172,000
20. 2007-11-07
    listed $181,000
21. 2007-08-02
    listed $215,000
22. 2003-10-23
    soldstatus $120,000
23. 2000-12-15
    soldstatus $103,500
24. 2000-11-15
    historical
25. 2000-09-10
    listed $99,750
26. 1994-05-27
    soldstatus $70,000

ⓘ 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: $2,281 · $190/mo
• Projected year-2 tax: $2,318 · $193/mo
• Expected delta: +$37/yr (+$3/mo · 1.6%)

ⓘ 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 6 d/yr ≥112°F today · 17 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: $36,819
• − Mortgage interest: −$17,085
• − Property taxes: −$2,281
• − Insurance: −$1,525
• − Repairs & maintenance: −$2,945
• − Management: −$2,945
• − HOA: −$6,240
• − Depreciation: −$8,873
• Taxable loss: −$5,076
• Est. tax savings @ 24.0%: +$1,218
• After-tax cash flow: $1,066/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

+335.7% since first listed

26 events — show timeline

• 2026-04-30 Listed $305,000 TheMLS
• 2026-03-17 Coming Soon $305,000 TheMLS
• 2024-04-10 Rental Removed $2,398 APPFOLIO
• 2024-03-15 Listed for Rent $2,398 APPFOLIO
• 2008-08-01 Listing Removed — CRMLS
• 2008-06-05 Listing Removed — GPSMLS
• 2008-05-28 Listed $114,900 GPSMLS
• 2008-04-04 Listing Removed — GPSMLS
• 2008-04-02 Price Changed $125,000 GPSMLS
• 2008-04-02 Price Changed $138,995 GPSMLS
• 2008-04-02 Price Changed $139,995 GPSMLS
• 2008-04-01 Price Changed $140,000 GPSMLS
• 2008-03-28 Price Changed $149,000 GPSMLS
• 2008-03-27 Price Changed $149,999 GPSMLS
• 2008-03-15 Price Changed $150,000 GPSMLS
• 2008-03-09 Price Changed $155,000 GPSMLS
• 2008-03-07 Price Changed $159,000 GPSMLS
• 2007-12-08 Price Changed $163,400 GPSMLS
• 2007-11-17 Price Changed $172,000 GPSMLS
• 2007-11-07 Listed $181,000 GPSMLS
• 2007-08-02 Listed $215,000 CRMLS
• 2003-10-23 Sold (Public Records) $120,000 Public Records
• 2000-12-15 Sold (Public Records) $103,500 Public Records
• 2000-11-15 Listing Removed — GPSMLS
• 2000-09-10 Listed $99,750 GPSMLS
• 1994-05-27 Sold (Public Records) $70,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $2,281 · -0.0% YoY. Source: county tax records.