28984 Desert Princess Dr · Cathedral City, CA 92234

$219,000

1 bd · 2.0 ba · 851 sqft · Condo public records · 34 Days on market

Built 1986 $995/mo HOA · 33% 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 +10.1/30.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• DSCR +2.9/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautiful condo is steps from the pool and overlooks the sprawling lush fairways of the prestigious Desert Princess community. You will love the surrounding peaceful views from this 1 bedroom, 2 bath prime corner lot. The Desert Princess Country Club is a 27-hole PGA Championship golf course boasting majestic views of serene nearby mountain ranges. The resort like HOA amenities are top notch and makes for pampered living, whether this is your vacation home or full time residence. The Desert Princess showcases a lap pool with 35 additional community pools and spas, 7 Plexi Pave US Open tennis courts, fitness facility, pickle ball, a full-service spa, a Social Membership to the country club with 20% off food, (no monthly minimums) and the list goes on. This unit also yields an excellent rental history! 10 minutes from the Palm Springs International Airport, minutes to Downtown Palm Springs, exquisite shopping, vintage boutiques, and renowned restaurants are just a handful of the attractions that are conveniently located nearby!

Key facts

• 35 community pools
• Fitness facility
• Pickle ball

Tags

• LAP POOL
• 35 COMMUNITY POOLS
• FITNESS FACILITY
• PICKLE BALL
• FULL SERVICE SPA
• EXQUISITE SHOPPING

Property features AI

Finance

• Other: Community of 537 units; Community features include golf course and suburban setting; Has a view
• Financial info: Land lease $174 monthly
• HOA & community: Part of Desert Princess CC homeowners association; Monthly association fee of $995; Community amenities: spa, pool, tennis, clubhouse, gym/exercise room, barbecue, controlled access, guard, security, maintenance of grounds, trash service, cable TV

Exterior

• Parking: 1 garage space; 1 total parking space
• Utilities: Public sewer; District/public water
• Home design: Condominium; Attached unit with one common wall; Single-story
• Construction: House structure type; Year built source: Assessor
• Exterior features: Community/association pool

Interior

• Kitchen: Electric oven; Electric stove; Dishwasher; Breakfast counter/bar; Eating area in living room
• Bedrooms: 1 main-level bedroom
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central cooling; Central furnace heating
• Interior features: One-level home; Entry at front door; Primary suite; All bedrooms on main level; Association/community spa
• Laundry & utility: Laundry inside; In-closet laundry; Stackable washer/dryer possible

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $219k.

Deal economics

• At list price, monthly cash flow is $-128 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (10.3% below list).
• Meets the 1% rule at list price ($3k rent vs $219k).
• Recommended offer: $196k (10.3% 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: Rio Vista Elementary (690 students, 96% FRL); James Workman Middle (1,028 students, 99% 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; 13 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 $2,976/mo this rent would consume 49% 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 $7k 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 34 days — a 3% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 24y 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 $181k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.
• Climate carrying-cost: extreme-heat days projected 4→10/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,467 (10.3% 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 34 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: 1.36% ✓
• Cap rate: 5.59%
• Cash-on-cash: -2.50%
• DSCR: 0.89
• GRM: 6.1

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: -19.6%
• Equity multiple: 0.31×
• Total profit: $-42,313
• Equity at exit: $32,654

10-year hold

• IRR: -11.0%
• Equity multiple: 0.32×
• Total profit: $-41,995
• Equity at exit: $18,935

Cash invested: $61,320 (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: 6.1×

Monthly cashflow live

• Estimated rent: $2,976 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$244 /mo · $2,924/yr
• Insurance: −$91
• HOA: −$995
• Vacancy / Maint / Mgmt: −$625
• Net cashflow: $-128

Break-even live

Break-even rent $3,137

Max offer price $196,467

Occupancy floor 99%

Sensitivity live

Price	-10% $-4	-5% $-66	+0% $-128	+5% $-190	+10% $-252
Rent	-10% $-363	-5% $-245	+0% $-128	+5% $-10	+10% $108
Rate	-1.0pp $-17	-0.5pp $-72	base $-128	+0.5pp $-184	+1.0pp $-242

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28984 Desert Princess Dr Unit 702 Cathedral City, CA	1.0	2.0	851	$3,400	$4.00	45d	1	0.02mi
28763 E Portales Dr Cathedral City, CA	2.0	2.0	984	$4,200	$4.27	9d	1	0.29mi
67463 Toltec Ct Cathedral City, CA	1.0	2.0	851	$3,500	$4.11	45d	1	0.40mi
67240 S Chimayo Dr Unit 702 Cathedral City, CA	1.0	2.0	851	$2,200	$2.59	45d	1	0.51mi
67328 Cumbres Ct Unit 702 Cathedral City, CA	1.0	2.0	851	$3,400	$4.00	45d	1	0.51mi
67261 Cumbres Ct Cathedral City, CA	2.0	2.0	984	$4,000	$4.07	45d	1	0.55mi
68080 Risueno Rd Cathedral City, CA	2.0	1.0	800	$2,200	$2.75	17d	1	0.55mi
68185 Alcita Rd Cathedral City, CA	2.0	2.0	975	$1,895	$1.94	3d	1	1.10mi
31200 Landau Blvd Cathedral City, CA	2.0–3.0	2.0	1016	$2,300	$2.26	45d	3	1.18mi
31200 Landau Blvd Cathedral City, CA	2.0–3.0	2.0	1016	$2,195	$2.16	14d	4	1.18mi
28455 Avenida La Vis Unit B Cathedral City, CA	2.0	2.0	1100	$1,995	$1.81	45d	1	1.24mi
1 Lakeview Cir Cathedral City, CA	2.0	2.0	1000	$2,300	$2.30	45d	1	1.30mi
31520 Landau Blvd Unit 3 Cathedral City, CA	1.0	1.0	950	$1,650	$1.74	0d	1	1.33mi

HOA detail condo

• Monthly dues: $995 · $11,940/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 41 events

1. 2026-06-21
   days on market $219,000 Active 34 DOM
2. 2026-06-18
   days on market $219,000 Active 31 DOM
3. 2026-06-17
   days on market $219,000 Active 30 DOM
4. 2026-06-16
   days on market $219,000 Active 29 DOM
5. 2026-06-15
   days on market $219,000 Active 28 DOM
6. 2026-06-13
   days on market $219,000 Active 26 DOM
7. 2026-06-13
   days on market $219,000 Active 25 DOM
8. 2026-06-10
   price $219,000 Active 22 DOM
9. 2026-06-09
   days on market $229,000 Active 22 DOM
10. 2026-06-08
    days on market $229,000 Active 21 DOM
11. 2026-06-07
    days on market $229,000 Active 20 DOM
12. 2026-06-04
    days on market $229,000 Active 17 DOM
13. 2026-06-03
    days on market $229,000 Active 16 DOM
14. 2026-06-02
    days on market $229,000 Active 15 DOM
15. 2026-06-01
    days on market $229,000 Active 14 DOM
16. 2026-05-31
    days on market $229,000 Active 13 DOM
17. 2026-05-18
    listed $229,000 Active
18. 2025-07-14
    historical $3,100
19. 2025-05-28
    listed $3,100
20. 2023-11-13
    historical
21. 2023-08-07
    listed $270,000 Active
22. 2021-08-31
    soldstatus $181,000 Closed Sale 1046-char remark

    Show marketing remark (1046 chars)

    This beautiful condo is steps from the pool and overlooks the sprawling lush fairways of the prestigious Desert Princess community. You will love the surrounding peaceful views from this 1 bedroom, 2 bath prime corner lot. The Desert Princess Country Club is a 27-hole PGA Championship golf course boasting majestic views of serene nearby mountain ranges. The resort like HOA amenities are top notch and makes for pampered living, whether this is your vacation home or full time residence. The Desert Princess showcases a lap pool with 35 additional community pools and spas, 7 Plexi Pave US Open tennis courts, fitness facility, pickle ball, a full-service spa, a Social Membership to the country club with 20% off food, (no monthly minimums) and the list goes on. This unit also yields an excellent rental history! 10 minutes from the Palm Springs International Airport, minutes to Downtown Palm Springs, exquisite shopping, vintage boutiques, and renowned restaurants are just a handful of the attractions that are conveniently located nearby!

23. 2021-05-24
    status Pending Sale 1046-char remark

    Show marketing remark (1046 chars)

    This beautiful condo is steps from the pool and overlooks the sprawling lush fairways of the prestigious Desert Princess community. You will love the surrounding peaceful views from this 1 bedroom, 2 bath prime corner lot. The Desert Princess Country Club is a 27-hole PGA Championship golf course boasting majestic views of serene nearby mountain ranges. The resort like HOA amenities are top notch and makes for pampered living, whether this is your vacation home or full time residence. The Desert Princess showcases a lap pool with 35 additional community pools and spas, 7 Plexi Pave US Open tennis courts, fitness facility, pickle ball, a full-service spa, a Social Membership to the country club with 20% off food, (no monthly minimums) and the list goes on. This unit also yields an excellent rental history! 10 minutes from the Palm Springs International Airport, minutes to Downtown Palm Springs, exquisite shopping, vintage boutiques, and renowned restaurants are just a handful of the attractions that are conveniently located nearby!

24. 2021-05-24
    status Active 1046-char remark

    Show marketing remark (1046 chars)

    This beautiful condo is steps from the pool and overlooks the sprawling lush fairways of the prestigious Desert Princess community. You will love the surrounding peaceful views from this 1 bedroom, 2 bath prime corner lot. The Desert Princess Country Club is a 27-hole PGA Championship golf course boasting majestic views of serene nearby mountain ranges. The resort like HOA amenities are top notch and makes for pampered living, whether this is your vacation home or full time residence. The Desert Princess showcases a lap pool with 35 additional community pools and spas, 7 Plexi Pave US Open tennis courts, fitness facility, pickle ball, a full-service spa, a Social Membership to the country club with 20% off food, (no monthly minimums) and the list goes on. This unit also yields an excellent rental history! 10 minutes from the Palm Springs International Airport, minutes to Downtown Palm Springs, exquisite shopping, vintage boutiques, and renowned restaurants are just a handful of the attractions that are conveniently located nearby!

25. 2021-05-14
    listed $165,000 Active 1046-char remark

    Show marketing remark (1046 chars)

    This beautiful condo is steps from the pool and overlooks the sprawling lush fairways of the prestigious Desert Princess community. You will love the surrounding peaceful views from this 1 bedroom, 2 bath prime corner lot. The Desert Princess Country Club is a 27-hole PGA Championship golf course boasting majestic views of serene nearby mountain ranges. The resort like HOA amenities are top notch and makes for pampered living, whether this is your vacation home or full time residence. The Desert Princess showcases a lap pool with 35 additional community pools and spas, 7 Plexi Pave US Open tennis courts, fitness facility, pickle ball, a full-service spa, a Social Membership to the country club with 20% off food, (no monthly minimums) and the list goes on. This unit also yields an excellent rental history! 10 minutes from the Palm Springs International Airport, minutes to Downtown Palm Springs, exquisite shopping, vintage boutiques, and renowned restaurants are just a handful of the attractions that are conveniently located nearby!

26. 2017-10-31
    historical
27. 2017-04-06
    price $128,000
28. 2016-11-08
    price $130,000
29. 2016-10-03
    listed $135,000 Active
30. 2014-11-10
    historical
31. 2013-11-18
    listed $128,000 Active
32. 2007-01-01
    historical
33. 2006-06-09
    listed $189,500
34. 2005-04-03
    historical
35. 2005-02-21
    listed $144,500
36. 2003-12-09
    historical
37. 2003-12-06
    listed $86,000
38. 2003-05-03
    historical
39. 2003-03-28
    listed $58,500
40. 2003-03-28
    historical
41. 2002-06-15
    listed

ⓘ 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: $2,924 · $244/mo
• Projected year-2 tax: $2,924 · $244/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 4 d/yr ≥112°F today · 10 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: $35,708
• − Mortgage interest: −$12,267
• − Property taxes: −$2,924
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,857
• − Management: −$2,857
• − HOA: −$11,940
• − Depreciation: −$6,371
• Taxable loss: −$4,602
• Est. tax savings @ 24.0%: +$1,104
• After-tax cash flow: $-426/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

+274.4% since first listed

26 events — show timeline

• 2026-06-09 Price Changed $219,000 CRMLS
• 2026-05-18 Listed $229,000 CRMLS
• 2025-07-14 Rental Removed $3,100 SHOWMOJO
• 2025-05-28 Listed for Rent $3,100 SHOWMOJO
• 2023-11-13 Listing Removed — CRMLS
• 2023-08-07 Listed $270,000 CRMLS
• 2021-08-31 Sold (MLS) $181,000 CRMLS
• 2021-05-24 Pending — CRMLS
• 2021-05-24 Relisted — CRMLS
• 2021-05-14 Listed $165,000 CRMLS
• 2017-10-31 Listing Removed — CRMLS
• 2017-04-06 Price Changed $128,000 CRMLS
• 2016-11-08 Price Changed $130,000 CRMLS
• 2016-10-03 Listed $135,000 CRMLS
• 2014-11-10 Listing Removed — GPSMLS
• 2013-11-18 Listed $128,000 GPSMLS
• 2007-01-01 Listing Removed — GPSMLS
• 2006-06-09 Listed $189,500 GPSMLS
• 2005-04-03 Listing Removed — GPSMLS
• 2005-02-21 Listed $144,500 GPSMLS
• 2003-12-09 Listing Removed — GPSMLS
• 2003-12-06 Listed $86,000 GPSMLS
• 2003-05-03 Listing Removed — GPSMLS
• 2003-03-28 Delisted — PALM
• 2003-03-28 Listed $58,500 GPSMLS
• 2002-06-15 Listed — PALM

Property tax history

+2.2%/yr

Latest (2025): $2,924 · -0.4% YoY. Source: county tax records.