480 Calle Madrigal · Cathedral City, CA 92234

$189,000

3 bd · 2.0 ba · 1,480 sqft · Manufactured · 163 Days on market

Built 1974 Good condition $128/sqft · 64% above area ↓ 16% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy Resort Living in a stunningly renovated home at Date Palm CC! Situated on the Golf Course with mountain views this 3 bd and 2 bath home has been meticulously updated with details that you just have to see, all connected to an expansive outdoor wrap around patio that provides seamless indoor/outdoor entertaining. Enter your formal foyer and be amazed at the beautifully furnished open floor plan flooded with natural light and anchored by a modern electric fireplace. The chefs kitchen anchors the home and opens to the dining and living spaces with quartz countertops, 2 separate bar seating areas, a cooks island, a huge dry bar with a wine fridge, extensive modern cabinetry and high end stainless appliances. Just off the kitchen area is a large laundry room and an extra fridge/freezer! Down the hall you will find 2 guest rooms and the large primary suite all with updated dual pane windows and doors, lighting, plumbing and more! The exterior space includes tandem parking for 2, a large storage shed that could also be a cool artists workspace and of course the covered wrap around patio. Date Palm CC has it all with golf, tennis, pickle ball, pool and spa, community center, social activities and "Nicks" a full service restaurant/bar that is well known in the Cathedral City area! Resort living and a beautifully renovated home in a great location equals hurry hurry before it's gone!

Key facts

• Quartz countertops
• Chefs kitchen
• Golf course

Tags

• GOLF COURSE
• MOUNTAIN VIEWS
• OUTDOOR WRAP AROUND PATIO
• MODERN ELECTRIC FIREPLACE
• CHEFS KITCHEN
• QUARTZ COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $189k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $909 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $189k).
• Recommended offer: $166k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.1% 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; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 $2,804/mo this rent would consume 46% 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 $1k of loan paydown is wiped out by about $6k 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 $53k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $36k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 163 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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 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: 1.48% ✓
• Cap rate: 12.07%
• Cash-on-cash: 20.62%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

• ARV (median comp): $115,113
• List price: $189,000
• Delta: 64.19%
• Verdict: OVERPRICED
• 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	0.08mi	2/2.0 (-1)	1,440 (-3%)	0mo	$65,000	$45	87
464 Cerritos Way	0.05mi	2/2.0 (-1)	1,440 (-3%)	2mo	$95,000	$66	86
409 S Paseo Laredo	0.16mi	2/2.0 (-1)	1,440 (-3%)	1mo	$58,000	$40	82
447 Paseo Perdido	0.09mi	2/2.0 (-1)	1,590 (+7%)	1mo	$55,000	$35	78
318 Via Don Benito	0.26mi	2/2.0 (-1)	1,536 (+4%)	2mo	$85,000	$55	75
337 Via Don Benito	0.18mi	2/2.0 (-1)	1,608 (+9%)	0mo	$77,000	$48	72
309 Via Don Benito	0.33mi	2/2.0 (-1)	1,560 (+5%)	0mo	$119,000	$76	70
451 Paseo Perdido	0.05mi	2/2.0 (-1)	1,680 (+14%)	3mo	$112,000	$67	67
229 Calle Leandro	0.49mi	2/2.0 (-1)	1,440 (-3%)	3mo	$90,000	$63	65
67 Paseo Laredo North	0.55mi	2/2.0 (-1)	1,440 (-3%)	1mo	$55,000	$38	64
153 Estrada Way	0.75mi	2/2.0 (-1)	1,440 (-3%)	1mo	$46,500	$32	55
126 Via Valverde	0.74mi	2/2.0 (-1)	1,440 (-3%)	2mo	$179,500	$125	54

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: 13.2%
• Equity multiple: 1.53×
• Total profit: $27,955
• Equity at exit: $28,181

10-year hold

• IRR: 22.2%
• Equity multiple: 2.92×
• Total profit: $101,656
• Equity at exit: $16,341

Cash invested: $52,920 (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: 5.6×

Monthly cashflow live

• Estimated rent: $2,804 high
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$589
• Net cashflow: $909

Break-even live

Break-even rent $1,653

Max offer price $189,000

Occupancy floor 63%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
251 S Paseo Laredo Cathedral City, CA	2.0	2.0	1440	$2,400	$1.67	44d	1	0.14mi
250 S Paseo Laredo Cathedral City, CA	2.0	2.0	1600	$1,800	$1.12	12d	1	0.15mi
37800 Da Vall Dr #12 Rancho Mirage, CA	2.0	2.0	1387	$2,400	$1.73	44d	1	0.51mi
70170 Sun Valley Dr Rancho Mirage, CA	2.0	2.0	1368	$3,800	$2.78	4d	1	0.55mi
36040 Avenida de las Montanas Unit E Cathedral City, CA	2.0	2.0	1220	$3,200	$2.62	44d	1	0.62mi
159 Estrada Way Cathedral City, CA	3.0	2.0	1800	$2,850	$1.58	44d	1	0.72mi
152 Estrada Way #152 Cathedral City, CA	2.0	2.0	1500	$2,200	$1.47	44d	1	0.75mi
70100 Mirage Cove Dr #10 Rancho Mirage, CA	3.0	2.0	1570	$3,000	$1.91	44d	1	0.86mi
8 Mission Ct Rancho Mirage, CA	2.0	2.0	1540	$2,500	$1.62	18d	1	0.95mi
68695 F St Cathedral City, CA	3.0	2.5	896	$2,500	$2.79	44d	1	0.96mi
38 Mission Ct Rancho Mirage, CA	3.0	3.0	1382	$3,500	$2.53	44d	1	0.98mi
35 Mission Ct Rancho Mirage, CA	3.0	2.0	1382	$4,125	$2.98	44d	1	0.99mi
35090 Mission Hills Dr Rancho Mirage, CA	2.0	2.0	1596	$3,950	$2.47	24d	1	0.99mi
35082 Mission Hills Dr Rancho Mirage, CA	2.0	2.5	1624	$3,250	$2.00	12d	1	1.01mi
68882 Calle Mula Cathedral City, CA	2.0	2.0	1714	$2,500	$1.46	20d	1	1.06mi
35054 Mission Hills Dr Rancho Mirage, CA	2.0	2.0	1396	$2,549	$1.83	4d	1	1.11mi
69200 Nilda Dr Cathedral City, CA	3.0	2.0	1330	$2,495	$1.88	22d	1	1.12mi
68859 Paseo Real Cathedral City, CA	2.0	2.0	1406	$3,960	$2.82	15d	1	1.21mi
68859 Paseo Real Cathedral City, CA	2.0	2.0	1406	$3,960	$2.82	44d	1	1.21mi
34750 Marcia Rd Unit 02 Cathedral City, CA	3.0	2.0	1325	$2,000	$1.51	18d	1	1.29mi
39905 Estates Rd Unit 3 Rancho Mirage, CA	2.0	2.0	1000	$1,800	$1.80	24d	1	1.36mi
35200 Cathedral Canyon Dr Unit H64 Cathedral City, CA	2.0	2.0	1375	$2,500	$1.82	44d	1	1.39mi
39955 Estates Rd Apt 11 Rancho Mirage, CA	2.0	2.0	1000	$2,395	$2.40	5d	1	1.40mi
69646 Antonia Way Rancho Mirage, CA	2.0	2.0	966	$2,450	$2.54	18d	1	1.40mi
69603 Heather Way Rancho Mirage, CA	3.0	2.0	1218	$2,300	$1.89	44d	1	1.45mi
34361 Denise Way Rancho Mirage, CA	3.0	2.0	1400	$2,800	$2.00	44d	1	1.45mi
35200 Cathedral Canyon Dr Unit B10 Cathedral City, CA	2.0	2.0	1384	$2,600	$1.88	44d	1	1.46mi
69180 Victoria Dr #8 Cathedral City, CA	3.0	2.0	1230	$1,995	$1.62	3d	1	1.48mi
40080 Via Buena Vista Rancho Mirage, CA	3.0	3.0	1848	$3,800	$2.06	24d	1	1.50mi

Listing history 17 events

1. 2026-06-18
   days on market $189,000 Active 163 DOM
2. 2026-06-17
   days on market $189,000 Active 162 DOM
3. 2026-06-16
   days on market $189,000 Active 161 DOM
4. 2026-06-15
   days on market $189,000 Active 160 DOM
5. 2026-06-13
   days on market $189,000 Active 158 DOM
6. 2026-06-13
   days on market $189,000 Active 157 DOM
7. 2026-06-09
   days on market $189,000 Active 154 DOM
8. 2026-06-08
   days on market $189,000 Active 153 DOM
9. 2026-06-07
   days on market $189,000 Active 152 DOM
10. 2026-06-04
    days on market $189,000 Active 149 DOM
11. 2026-06-03
    days on market $189,000 Active 148 DOM
12. 2026-06-02
    days on market $189,000 Active 147 DOM
13. 2026-06-01
    days on market $189,000 Active 146 DOM
14. 2026-05-31
    days on market $189,000 Active 145 DOM
15. 2026-03-05
    price $189,000 1418-char remark

    Show marketing remark (1418 chars)

    Enjoy Resort Living in a stunningly renovated home at Date Palm CC! Situated on the Golf Course with mountain views this 3 bd and 2 bath home has been meticulously updated with details that you just have to see, all connected to an expansive outdoor wrap around patio that provides seamless indoor/outdoor entertaining. Enter your formal foyer and be amazed at the beautifully furnished open floor plan flooded with natural light and anchored by a modern electric fireplace. The chefs kitchen anchors the home and opens to the dining and living spaces with quartz countertops, 2 separate bar seating areas, a cooks island, a huge dry bar with a wine fridge, extensive modern cabinetry and high end stainless appliances. Just off the kitchen area is a large laundry room and an extra fridge/freezer! Down the hall you will find 2 guest rooms and the large primary suite all with updated dual pane windows and doors, lighting, plumbing and more! The exterior space includes tandem parking for 2, a large storage shed that could also be a cool artists workspace and of course the covered wrap around patio. Date Palm CC has it all with golf, tennis, pickle ball, pool and spa, community center, social activities and "Nicks" a full service restaurant/bar that is well known in the Cathedral City area! Resort living and a beautifully renovated home in a great location equals hurry hurry before it's gone!

16. 2026-01-06
    listed $224,900 Active 1418-char remark

    Show marketing remark (1418 chars)

    Enjoy Resort Living in a stunningly renovated home at Date Palm CC! Situated on the Golf Course with mountain views this 3 bd and 2 bath home has been meticulously updated with details that you just have to see, all connected to an expansive outdoor wrap around patio that provides seamless indoor/outdoor entertaining. Enter your formal foyer and be amazed at the beautifully furnished open floor plan flooded with natural light and anchored by a modern electric fireplace. The chefs kitchen anchors the home and opens to the dining and living spaces with quartz countertops, 2 separate bar seating areas, a cooks island, a huge dry bar with a wine fridge, extensive modern cabinetry and high end stainless appliances. Just off the kitchen area is a large laundry room and an extra fridge/freezer! Down the hall you will find 2 guest rooms and the large primary suite all with updated dual pane windows and doors, lighting, plumbing and more! The exterior space includes tandem parking for 2, a large storage shed that could also be a cool artists workspace and of course the covered wrap around patio. Date Palm CC has it all with golf, tennis, pickle ball, pool and spa, community center, social activities and "Nicks" a full service restaurant/bar that is well known in the Cathedral City area! Resort living and a beautifully renovated home in a great location equals hurry hurry before it's gone!

17. 2025-06-12
    listed Active

ⓘ 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 · 21 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: $33,653
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$945
• − Repairs & maintenance: −$2,692
• − Management: −$2,692
• − Depreciation: −$5,498
• Taxable income: $8,403
• Est. tax owed @ 24.0%: −$2,017
• After-tax cash flow: $8,895/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This beautifully renovated home offers a stunning open floor plan with modern updates and a spacious outdoor patio, making it an ideal choice for both resale and rental.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more buyers
• Both Add smart home features — Improves convenience and can increase property value
• Both Update kitchen appliances — Modernizes the kitchen and can increase property value

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more buyers ↑
• Both Add smart home features — Improves convenience and can increase property value ↑
• Both Update kitchen appliances — Modernizes the kitchen and can increase property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-16.0% since first listed

3 events — show timeline

• 2026-03-05 Price Changed $189,000 TheMLS
• 2026-01-06 Listed $224,900 TheMLS
• 2025-06-12 Listed — TheMLS