433 Butterfield · Cathedral City, CA 92234

$88,000

2 bd · 2.0 ba · 1,200 sqft · Manufactured · 53 Days on market

Built 1969 1,300 sqft lot $73/sqft · at area comps Est $86k · 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 +6.6/15.0
• 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

This lovely home is very clean, has new pull up down cordless blinds, a new water heater. A new shower in the primary bath, a replaced Front Porch Carpet, A newer Refrigerator. Evaporative Cooler, and a new Heating and A/C Heat Pump. Great as a Retirement home or for Downsizing. The rent will be approximately $800.00 monthly which includes the Indian Lease Fee. This is a 55 and over Community.

Key facts

• New water heater
• Evaporative cooler
• Newer refrigerator

Tags

• NEW WATER HEATER
• NEW SHOWER IN THE PRIMARY BATH
• NEWER REFRIGERATOR
• EVAPORATIVE COOLER
• NEW HEATING AND A/C HEAT PUMP

Property features AI

Finance

• Other: Disclosures include CC&R, pet restrictions, and HOA; Listing terms: Conventional; possession at close of escrow; no short-term rentals; will not consider lease
• Financial info: Land is lease (land lease amount noted separately); Space rent includes trash, sewer, and access to heated community pool and spa
• HOA & community: Senior community with gated entry; Community features include pickleball courts; Community has a heated pool and tile spa

Exterior

• Parking: Attached carport; Two carport spaces (2 total parking spaces)
• Security: Gated community; Exterior security lights
• Utilities: Water available in street; Sewer in, connected and paid; PUD: No
• Home design: Single-story (one level); Double-wide manufactured home; Aluminum siding; Model: Key West; Width 12', length 54'; Mobile home will remain; Located in a senior park (Royal Palms); manager approval required
• Construction: Aluminum siding; Vinyl skirting; Year of manufacture 01/01/1969
• Exterior features: Covered patio; Exterior security lights; Gated community; Front door faces south; Detached property

Interior

• Kitchen: Formica counters; Dishwasher; Electric range/oven/cooktop; Microwave; Exhaust fan; Disposal
• Bedrooms: Main floor bedroom; Main floor master bedroom
• Flooring: Carpet; Linoleum
• Bathrooms: Two 3/4 bathrooms
• Heating & cooling: Electric heating with forced air; Central air conditioning; Ceiling fans
• Interior features: Blinds on windows; Ground-level entry with steps; Furnished
• Laundry & utility: Washer and dryer (dryer listed); Laundry in closet; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $88k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $88k).
• Recommended offer: $85k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.9% 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); 525 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $608 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 $25k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 18y 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 $39k; list at $88k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $85,360 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 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 1969 — 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: 2.94% ✓
• Cap rate: 25.85%
• Cash-on-cash: 69.85%
• DSCR: 4.11
• GRM: 2.8

CMA / ARV

• ARV (median comp): $86,309
• List price: $88,000
• Delta: 1.96%
• 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
248 Standing Bear	0.12mi	2/2.0	1,152 (-4%)	6mo	$110,000	$95	82
32 Coble Dr	0.19mi	2/1.5	1,152 (-4%)	1mo	$155,000	$135	82
264 Wolf	0.22mi	2/2.0	1,248 (+4%)	4mo	$74,000	$59	79
355 Trading Post	0.24mi	2/2.0	1,152 (-4%)	6mo	$82,500	$72	77
392 Standing Bear	0.09mi	2/2.0	1,368 (+14%)	2mo	$113,000	$83	70
214 Settles	0.44mi	2/2.0	1,152 (-4%)	5mo	$132,500	$115	69
493 Prairie	0.11mi	3/2.0 (+1)	1,344 (+12%)	5mo	$189,000	$141	66
213 Settles Dr	0.44mi	2/2.0	1,140 (-5%)	7mo	$145,000	$127	65
76 Dunes Cir	0.23mi	2/2.0	1,344 (+12%)	6mo	$89,000	$66	64
293 Coble Dr	0.44mi	2/2.0	1,280 (+7%)	6mo	$132,500	$104	63
299 Butterfield	0.17mi	3/2.0 (+1)	1,368 (+14%)	6mo	$156,000	$114	58
3 Sand Crk	0.20mi	1/1.0 (-1)	1,040 (-13%)	5mo	$73,000	$70	55

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: 69.6%
• Equity multiple: 4.15×
• Total profit: $77,699
• Equity at exit: $13,121

10-year hold

• IRR: 73.7%
• Equity multiple: 8.62×
• Total profit: $187,804
• Equity at exit: $7,609

Cash invested: $24,640 (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: 2.8×

Monthly cashflow live

• Estimated rent: $2,585 high
• Mortgage (P&I): −$461
• Tax est. 1.5%: −$110 /mo · $1,320/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$543
• Net cashflow: $1,434

Break-even live

Break-even rent $770

Max offer price $88,000

Occupancy floor 40%

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: $22,000
• Closing costs: $2,640
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
68615 Paseo Soria Cathedral City, CA	2.0	2.0	1462	$3,500	$2.39	7d	1	0.29mi
68859 Paseo Real Cathedral City, CA	2.0	2.0	1406	$3,960	$2.82	43d	1	0.29mi
68859 Paseo Real Cathedral City, CA	2.0	2.0	1406	$3,960	$2.82	15d	1	0.29mi
34750 Marcia Rd Unit 02 Cathedral City, CA	3.0	2.0	1325	$2,000	$1.51	18d	1	0.31mi
69180 Victoria Dr #8 Cathedral City, CA	3.0	2.0	1230	$1,995	$1.62	3d	1	0.33mi
69200 Nilda Dr Cathedral City, CA	3.0	2.0	1330	$2,495	$1.88	22d	1	0.38mi
35200 Cathedral Canyon Dr Unit H64 Cathedral City, CA	2.0	2.0	1375	$2,500	$1.82	43d	1	0.41mi
69155 Dinah Shore Dr Apt 20 Cathedral City, CA	2.0	2.0	1200	$2,050	$1.71	43d	1	0.42mi
69155 Dinah Shore Dr Cathedral City, CA	2.0	2.0	1100	$1,795	$1.63	43d	1	0.43mi
35200 Cathedral Canyon Dr Unit B10 Cathedral City, CA	2.0	2.0	1384	$2,600	$1.88	43d	1	0.44mi
34197 Calle Mora Cathedral City, CA	2.0	2.0	1171	$2,300	$1.96	22d	1	0.45mi
34197 Calle Mora Cathedral City, CA	2.0	2.0	1171	$2,300	$1.96	13d	1	0.45mi
34197 Calle Mora Cathedral City, CA	2.0	2.0	1171	$2,300	$1.96	10d	1	0.45mi
35615 Paseo Circulo E Cathedral City, CA	1.0	2.0	1029	$2,250	$2.19	43d	1	0.47mi
68153 Lakeland Dr Cathedral City, CA	2.0	2.0	1255	$2,500	$1.99	24d	1	0.56mi
68368 Calle Leon Cathedral City, CA	2.0	2.0	1406	$3,790	$2.70	15d	1	0.57mi
68368 Calle Leon Cathedral City, CA	2.0	2.0	1406	$3,790	$2.70	43d	1	0.57mi
33255 Date Palm Dr Cathedral City, CA	2.0	2.0	1050	$1,795	$1.71	43d	1	0.70mi
33892 Sky Blue Water Trl Cathedral City, CA	3.0	2.0	1352	$2,800	$2.07	4d	1	0.70mi
69603 Heather Way Rancho Mirage, CA	3.0	2.0	1218	$2,300	$1.89	43d	1	0.74mi
33495 Cathedral Canyon Dr Cathedral City, CA	2.0	1.0	1100	$2,200	$2.00	43d	1	0.75mi
33495 Cathedral Canyon Dr Unit B Cathedral City, CA	2.0	1.0	1100	$2,100	$1.91	43d	1	0.75mi
69646 Antonia Way Rancho Mirage, CA	2.0	2.0	966	$2,450	$2.54	18d	1	0.77mi
34361 Denise Way Rancho Mirage, CA	3.0	2.0	1400	$2,800	$2.00	43d	1	0.79mi
34073 Emily Way Rancho Mirage, CA	2.0	2.0	966	$2,100	$2.17	18d	1	0.80mi
34073 Emily Way Rancho Mirage, CA	2.0	2.0	966	$2,100	$2.17	22d	1	0.80mi
152 Estrada Way #152 Cathedral City, CA	2.0	2.0	1500	$2,200	$1.47	43d	1	0.80mi
34071 Denise Way Rancho Mirage, CA	3.0	2.0	1218	$2,599	$2.13	24d	1	0.83mi
36040 Avenida de las Montanas Unit E Cathedral City, CA	2.0	2.0	1220	$3,200	$2.62	43d	1	0.87mi
33387 Shifting Sands Trl Unit 2 Cathedral City, CA	2.0	2.0	1300	$1,999	$1.54	24d	1	1.00mi
32585 Cielo Vista Rd Cathedral City, CA	2.0	2.0	840	$2,000	$2.38	24d	1	1.08mi
33030 Shifting Sands Trl Apt 4 Cathedral City, CA	2.0	1.0	821	$1,599	$1.95	24d	1	1.10mi
32425 Rancho Vista Dr Unit A Cathedral City, CA	2.0	1.0	754	$1,950	$2.59	7d	1	1.16mi
2010 Lawrence Crossley Rd Unit 8 Palm Springs, CA	2.0	1.5	993	$1,895	$1.91	14d	1	1.23mi
26 Pueblo Vista Dr Palm Springs, CA	3.0	2.0	1487	$3,200	$2.15	43d	1	1.24mi
36947 Melrose Dr Unit D Cathedral City, CA	1.0	1.0	700	$1,595	$2.28	22d	1	1.25mi
36947 Melrose Dr Unit 4 Cathedral City, CA	1.0	1.0	700	$1,595	$2.28	24d	1	1.25mi
36947 Melrose Dr Unit 4 Cathedral City, CA	1.0	1.0	700	$1,595	$2.28	3d	1	1.25mi
36957 Melrose Dr Unit C Cathedral City, CA	1.0	1.0	700	$1,495	$2.14	24d	1	1.26mi
36957 Melrose Dr Unit 7 Cathedral City, CA	1.0	1.0	700	$1,495	$2.14	22d	1	1.26mi

Listing history 28 events

1. 2026-06-18
   days on market $88,000 Active 53 DOM
2. 2026-06-17
   days on market $88,000 Active 52 DOM
3. 2026-06-16
   days on market $88,000 Active 51 DOM
4. 2026-06-15
   days on market $88,000 Active 50 DOM
5. 2026-06-13
   days on market $88,000 Active 48 DOM
6. 2026-06-13
   days on market $88,000 Active 47 DOM
7. 2026-06-09
   days on market $88,000 Active 44 DOM
8. 2026-06-08
   days on market $88,000 Active 43 DOM
9. 2026-06-07
   days on market $88,000 Active 42 DOM
10. 2026-06-04
    days on market $88,000 Active 39 DOM
11. 2026-06-03
    days on market $88,000 Active 38 DOM
12. 2026-06-02
    days on market $88,000 Active 37 DOM
13. 2026-06-01
    days on market $88,000 Active 36 DOM
14. 2026-05-31
    days on market $88,000 Active 35 DOM
15. 2026-04-26
    listed $88,000 Active 393-char remark
16. 2024-08-12
    historical
17. 2024-07-06
    price $116,500
18. 2024-06-20
    status Active
19. 2024-06-01
    historical Active Under Contract
20. 2024-05-13
    price $121,500
21. 2024-02-11
    listed $128,900 Active
22. 2020-12-27
    listed Active
23. 2009-02-06
    historical
24. 2009-02-06
    soldstatus $38,700 Closed
25. 2009-01-23
    historical
26. 2008-11-08
    status
27. 2008-11-07
    historical
28. 2008-10-10
    listed $45,800

ⓘ 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 4/10 Moderate
• 🌡 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: $31,023
• − Mortgage interest: −$4,929
• − Property taxes: −$1,320
• − Insurance: −$440
• − Repairs & maintenance: −$2,482
• − Management: −$2,482
• − Depreciation: −$2,560
• Taxable income: $16,810
• Est. tax owed @ 24.0%: −$4,034
• After-tax cash flow: $13,176/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

+92.1% since first listed

14 events — show timeline

• 2026-04-26 Listed $88,000 GPSMLS
• 2024-08-12 Listing Removed — GPSMLS
• 2024-07-06 Price Changed $116,500 GPSMLS
• 2024-06-20 Relisted — GPSMLS
• 2024-06-01 Contingent — GPSMLS
• 2024-05-13 Price Changed $121,500 GPSMLS
• 2024-02-11 Listed $128,900 GPSMLS
• 2020-12-27 Listed — TheMLS
• 2009-02-06 Delisted — PALM
• 2009-02-06 Sold (MLS) $38,700 PALM
• 2009-01-23 Contingent — PALM
• 2008-11-08 Relisted — PALM
• 2008-11-07 Delisted — PALM
• 2008-10-10 Listed $45,800 PALM