249 S Paseo Laredo · Cathedral City, CA 92234

$110,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 48 Days on market

Built 1973 $76/sqft · at area comps Est $105k · at est.

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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 +5.5/15.0
• 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

Stunning renovation in Date Palm CC. ! Sellers have put much love and effort into the Exterior and Interior. Enter into a spacious light filled L/Room that opens to a custom Chef's Kitchen with all new appliances and an Island Bar that anchors the entertaining area. Dining area and custom built-in desk round out this open concept room. Master Suite includes a gorgeous new bath with high end design details. Guest Bath has also been renovated and Guest Bedroom is situated at end of hall. The Exterior spaces are large and have plenty of space for shady covered entertaining or sun filled areas with serene gardens and mountain views. Carport was widened for more space for parking. Enjoy resort living at Date Palm CC with golf, pools, tennis and dining and nightly entertainment at the popular AJ's On The Green! There is great value in this home so hurry!

Key facts

• Fenced yard
• Updated kitchen
• Remodeled bathrooms

Tags

• UPDATED KITCHEN
• REMODELED BATHROOMS
• PRIVATE DESERT RETREAT
• RESURFACED PATIO
• FENCED YARD
• ENHANCED FOUNDATION SUPPORT

Property features AI

Finance

• Other: Community of 535 units
• Financial info: Land lease (land not included); Monthly land lease: $1,380; Annual land lease: $16,560; Manager approval required
• HOA & community: Located in Date Palm Country Club; Association has pet rules; Gated community with guard; Community amenities (including pool)

Exterior

• Parking: Carport; 2 covered parking spaces
• Security: Community card/code access; Gated community with guard
• Home design: Residential mobile home; Double mobile home; Faces south; Single-story
• Construction: Signature manufactured home (built January 1, 1973)
• Exterior features: Covered patio; Community pool; Gated community with guard

Interior

• Kitchen: Dishwasher; Microwave
• Flooring: Laminate floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; A/C
• Interior features: Breakfast area; Cable TV; Ceiling fan; Updated/remodeled
• Laundry & utility: In-unit laundry with washer and dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.2% 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); 529 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 42% 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 $761 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $85k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 8→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.34% ✓
• Cap rate: 20.23%
• Cash-on-cash: 49.78%
• DSCR: 3.21
• GRM: 3.6

CMA / ARV

• ARV (median comp): $105,235
• List price: $110,000
• Delta: 4.53%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
443 Paseo Perdido	0.20mi	2/2.0	1,440 (0%)	0mo	$65,000	$45	90
464 Cerritos Way	0.19mi	2/2.0	1,440 (0%)	2mo	$95,000	$66	89
409 S Paseo Laredo	0.25mi	2/2.0	1,440 (0%)	2mo	$58,000	$40	87
229 Calle Leandro	0.35mi	2/2.0	1,440 (0%)	3mo	$90,000	$63	81
67 Paseo Laredo North	0.43mi	2/2.0	1,440 (0%)	1mo	$55,000	$38	79
35 N Paseo Laredo	0.49mi	2/2.0	1,440 (0%)	4mo	$157,000	$109	74
447 Paseo Perdido	0.21mi	2/2.0	1,590 (+10%)	1mo	$55,000	$35	72
153 Estrada Way	0.61mi	2/2.0	1,440 (0%)	1mo	$46,500	$32	71
126 Via Valverde	0.61mi	2/2.0	1,440 (0%)	2mo	$179,500	$125	70
318 Via Don Benito	0.39mi	2/2.0	1,536 (+7%)	2mo	$85,000	$55	69
337 Via Don Benito	0.28mi	2/2.0	1,608 (+12%)	0mo	$77,000	$48	67
309 Via Don Benito	0.46mi	2/2.0	1,560 (+8%)	0mo	$119,000	$76	65

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: 47.7%
• Equity multiple: 3.08×
• Total profit: $64,157
• Equity at exit: $16,401

10-year hold

• IRR: 53.5%
• Equity multiple: 6.30×
• Total profit: $163,160
• Equity at exit: $9,511

Cash invested: $30,800 (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: 3.6×

Monthly cashflow live

• Estimated rent: $2,579 high
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$542
• Net cashflow: $1,278

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 45%

Sensitivity live

Price	-10% $1,354	-5% $1,316	+0% $1,278	+5% $1,240	+10% $1,202
Rent	-10% $1,074	-5% $1,176	+0% $1,278	+5% $1,379	+10% $1,481
Rate	-1.0pp $1,333	-0.5pp $1,306	base $1,278	+0.5pp $1,249	+1.0pp $1,220

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
251 S Paseo Laredo Unit 251 Cathedral City, CA	1.0	2.0	1440	$2,550	$1.77	25d	1	0.02mi
251 S Paseo Laredo Cathedral City, CA	2.0	2.0	1440	$2,400	$1.67	45d	1	0.02mi
250 S Paseo Laredo Cathedral City, CA	2.0	2.0	1600	$1,800	$1.12	14d	1	0.04mi
36040 Avenida de las Montanas Unit E Cathedral City, CA	2.0	2.0	1220	$3,200	$2.62	45d	1	0.53mi
159 Estrada Way Cathedral City, CA	3.0	2.0	1800	$2,850	$1.58	45d	1	0.59mi
152 Estrada Way #152 Cathedral City, CA	2.0	2.0	1500	$2,200	$1.47	45d	1	0.61mi
37800 Da Vall Dr #12 Rancho Mirage, CA	2.0	2.0	1387	$2,400	$1.73	45d	1	0.64mi
70170 Sun Valley Dr Rancho Mirage, CA	2.0	2.0	1368	$3,800	$2.78	6d	1	0.67mi
68695 F St Cathedral City, CA	3.0	2.5	896	$2,500	$2.79	45d	1	0.86mi
35615 Paseo Circulo E Cathedral City, CA	1.0	2.0	1029	$2,250	$2.19	45d	1	0.90mi
68882 Calle Mula Cathedral City, CA	2.0	2.0	1714	$2,500	$1.46	21d	1	0.93mi
70100 Mirage Cove Dr #10 Rancho Mirage, CA	3.0	2.0	1570	$3,000	$1.91	45d	1	0.97mi
8 Mission Ct Rancho Mirage, CA	2.0	2.0	1540	$2,500	$1.62	19d	1	0.99mi
69200 Nilda Dr Cathedral City, CA	3.0	2.0	1330	$2,495	$1.88	23d	1	1.01mi
38 Mission Ct Rancho Mirage, CA	3.0	3.0	1382	$3,500	$2.53	45d	1	1.02mi
35090 Mission Hills Dr Rancho Mirage, CA	2.0	2.0	1596	$3,950	$2.47	25d	1	1.03mi
35 Mission Ct Rancho Mirage, CA	3.0	2.0	1382	$4,125	$2.98	45d	1	1.03mi
35082 Mission Hills Dr Rancho Mirage, CA	2.0	2.5	1624	$3,250	$2.00	14d	1	1.05mi
68859 Paseo Real Cathedral City, CA	2.0	2.0	1406	$3,960	$2.82	16d	1	1.09mi
68859 Paseo Real Cathedral City, CA	2.0	2.0	1406	$3,960	$2.82	45d	1	1.09mi
35054 Mission Hills Dr Rancho Mirage, CA	2.0	2.0	1396	$2,549	$1.83	6d	1	1.14mi
34750 Marcia Rd Unit 02 Cathedral City, CA	3.0	2.0	1325	$2,000	$1.51	19d	1	1.19mi
35200 Cathedral Canyon Dr Unit H64 Cathedral City, CA	2.0	2.0	1375	$2,500	$1.82	45d	1	1.26mi
35200 Cathedral Canyon Dr Unit B10 Cathedral City, CA	2.0	2.0	1384	$2,600	$1.88	45d	1	1.33mi
69646 Antonia Way Rancho Mirage, CA	2.0	2.0	966	$2,450	$2.54	19d	1	1.34mi
69603 Heather Way Rancho Mirage, CA	3.0	2.0	1218	$2,300	$1.89	45d	1	1.38mi
69180 Victoria Dr #8 Cathedral City, CA	3.0	2.0	1230	$1,995	$1.62	4d	1	1.38mi
34361 Denise Way Rancho Mirage, CA	3.0	2.0	1400	$2,800	$2.00	45d	1	1.39mi
39905 Estates Rd Unit 3 Rancho Mirage, CA	2.0	2.0	1000	$1,800	$1.80	25d	1	1.46mi
39955 Estates Rd Apt 11 Rancho Mirage, CA	2.0	2.0	1000	$2,395	$2.40	6d	1	1.50mi

Listing history 20 events

1. 2026-06-21
   days on market $110,000 Active 48 DOM
2. 2026-06-18
   days on market $110,000 Active 45 DOM
3. 2026-06-17
   days on market $110,000 Active 44 DOM
4. 2026-06-16
   days on market $110,000 Active 43 DOM
5. 2026-06-15
   days on market $110,000 Active 42 DOM
6. 2026-06-13
   days on market $110,000 Active 40 DOM
7. 2026-06-13
   days on market $110,000 Active 39 DOM
8. 2026-06-09
   days on market $110,000 Active 36 DOM
9. 2026-06-08
   days on market $110,000 Active 35 DOM
10. 2026-06-07
    days on market $110,000 Active 34 DOM
11. 2026-06-04
    days on market $110,000 Active 31 DOM
12. 2026-06-03
    days on market $110,000 Active 30 DOM
13. 2026-06-02
    days on market $110,000 Active 29 DOM
14. 2026-06-01
    days on market $110,000 Active 28 DOM
15. 2026-05-31
    days on market $110,000 Active 27 DOM
16. 2026-05-04
    listed $110,000 Active 1046-char remark
17. 2019-06-13
    soldstatus $85,000 Sold 860-char remark

    Show marketing remark (860 chars)

    Stunning renovation in Date Palm CC. ! Sellers have put much love and effort into the Exterior and Interior. Enter into a spacious light filled L/Room that opens to a custom Chef's Kitchen with all new appliances and an Island Bar that anchors the entertaining area. Dining area and custom built-in desk round out this open concept room. Master Suite includes a gorgeous new bath with high end design details. Guest Bath has also been renovated and Guest Bedroom is situated at end of hall. The Exterior spaces are large and have plenty of space for shady covered entertaining or sun filled areas with serene gardens and mountain views. Carport was widened for more space for parking. Enjoy resort living at Date Palm CC with golf, pools, tennis and dining and nightly entertainment at the popular AJ's On The Green! There is great value in this home so hurry!

18. 2019-06-13
    soldstatus $85,000 Closed 860-char remark

    Show marketing remark (860 chars)

    Stunning renovation in Date Palm CC. ! Sellers have put much love and effort into the Exterior and Interior. Enter into a spacious light filled L/Room that opens to a custom Chef's Kitchen with all new appliances and an Island Bar that anchors the entertaining area. Dining area and custom built-in desk round out this open concept room. Master Suite includes a gorgeous new bath with high end design details. Guest Bath has also been renovated and Guest Bedroom is situated at end of hall. The Exterior spaces are large and have plenty of space for shady covered entertaining or sun filled areas with serene gardens and mountain views. Carport was widened for more space for parking. Enjoy resort living at Date Palm CC with golf, pools, tennis and dining and nightly entertainment at the popular AJ's On The Green! There is great value in this home so hurry!

19. 2019-05-01
    historical Backup Offers Accepted 860-char remark

    Show marketing remark (860 chars)

    Stunning renovation in Date Palm CC. ! Sellers have put much love and effort into the Exterior and Interior. Enter into a spacious light filled L/Room that opens to a custom Chef's Kitchen with all new appliances and an Island Bar that anchors the entertaining area. Dining area and custom built-in desk round out this open concept room. Master Suite includes a gorgeous new bath with high end design details. Guest Bath has also been renovated and Guest Bedroom is situated at end of hall. The Exterior spaces are large and have plenty of space for shady covered entertaining or sun filled areas with serene gardens and mountain views. Carport was widened for more space for parking. Enjoy resort living at Date Palm CC with golf, pools, tennis and dining and nightly entertainment at the popular AJ's On The Green! There is great value in this home so hurry!

20. 2019-04-13
    listed $85,000 Active 860-char remark

    Show marketing remark (860 chars)

    Stunning renovation in Date Palm CC. ! Sellers have put much love and effort into the Exterior and Interior. Enter into a spacious light filled L/Room that opens to a custom Chef's Kitchen with all new appliances and an Island Bar that anchors the entertaining area. Dining area and custom built-in desk round out this open concept room. Master Suite includes a gorgeous new bath with high end design details. Guest Bath has also been renovated and Guest Bedroom is situated at end of hall. The Exterior spaces are large and have plenty of space for shady covered entertaining or sun filled areas with serene gardens and mountain views. Carport was widened for more space for parking. Enjoy resort living at Date Palm CC with golf, pools, tennis and dining and nightly entertainment at the popular AJ's On The Green! There is great value in this home so hurry!

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 8 d/yr ≥113°F today · 23 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: $30,954
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$2,476
• − Management: −$2,476
• − Depreciation: −$3,200
• Taxable income: $14,439
• Est. tax owed @ 24.0%: −$3,465
• After-tax cash flow: $11,866/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

+29.4% since first listed

5 events — show timeline

• 2026-05-04 Listed $110,000 TheMLS
• 2019-06-13 Sold (MLS) $85,000 GPSMLS
• 2019-06-13 Sold (MLS) $85,000 GPSMLS
• 2019-05-01 Contingent — GPSMLS
• 2019-04-13 Listed $85,000 GPSMLS