78250 Cortez Ln #140 · Indian Wells, CA 92210

$319,900

1 bd · 1.0 ba · 576 sqft · Condo public records · 28 Days on market

Built 1972 $264/mo HOA · 7% of rent

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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 +26.3/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Appreciation +6.9/10.0
• Schools +3.8/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

One of a kind charming Indian Wells condo with panoramic mountain views. This second floor studio with large patio area has it all. Oversized walk in closet w/ built ins, high vaulted ceilings w/ ceiling fan, close proximity to the community pool. Centrally located condo at the end of a private cul de sac in the guard gated community of Mountain Cove just off HWY 111 in the heart of the desert. Attention all investors this unit is currently set up in a vacation rental program and ready to go. Inquire for more details about rental income. Take advantage of all the perks of Indian Wells Resident ownership program. If you are looking for low maintenance this is it. Don't let this opportunity pass by. Patio has an outdoor BBQ! Turnkey furnished!

Key facts

• Office work station
• Cathedral ceilings
• Mountain views

Tags

• PRIVATE COVERED PATIO
• MOUNTAIN VIEWS
• OFFICE WORK STATION
• EXTENDED WALK-IN CLOSET
• CUSTOM ARCHITECTURAL FEATURES
• CATHEDRAL CEILINGS

Property features AI

Finance

• Other: Zoning: R3; View of hills; Complex name: Mountain Cove
• Financial info: Accepts cash or cash to new loan
• HOA & community: HOA fee approximately $264 monthly; HOA amenities include gated community with guard and pool; Association allows pets per association rules; Complex of 76 units; Management: Personalized Property Management; Land lease in place (lease amount approx. $1,980/year; lease expires 2069)

Exterior

• Parking: Unassigned garage parking
• Security: Gated community with guard; Smoke detector; Carbon monoxide detector(s)
• Utilities: Water and sewer included in HOA
• Home design: Residential condominium, attached; One level (entry on level 2); Faces south
• Construction: Stucco exterior; Tile roof
• Exterior features: Balcony (covered); Covered patio; Community pool; Has hill views

Interior

• Kitchen: Electric cooktop; Electric oven; Range/Oven; Refrigerator
• Bedrooms: Walk-in closet
• Flooring: Carpet; Tile
• Bathrooms: One full bath; Shower over tub
• Heating & cooling: Central cooling; Central heat; Electric heat
• Interior features: Furnished or unfurnished; Ceiling fan; Built-ins; High ceilings (9 feet+); Sliding glass doors
• Laundry & utility: Community laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $320k.

Deal economics

• At list price, monthly cash flow is $823 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $320k).
• Recommended offer: $315k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 1.5% in Indian Wells — 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 53/100 on livability (#968 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, schools B+, crime B+; Watch: amenities F, commute F, cost of living F.
• Desert Sands Unified (suburban): math 31% / reading 56% proficiency, ranked #199 of 517 in CA (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 147 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($2k loan paydown + $12k appreciation (3.8% local appreciation)).
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $90k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 27y 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 $114k; list at $320k implies a 182% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $315,101 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 1.22% ✓
• Cap rate: 9.38%
• Cash-on-cash: 11.03%
• DSCR: 1.49
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.76% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 2.16×
• Total profit: $104,092
• Equity at exit: $157,702

10-year hold

• IRR: 20.3%
• Equity multiple: 4.14×
• Total profit: $281,627
• Equity at exit: $254,414

Cash invested: $89,572 (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 92210

• Home prices YoY: 1.3%
• Active inventory: 147
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $3,899 medium
• Mortgage (P&I): −$1,678
• Tax from tax record: −$182 /mo · $2,181/yr
• Insurance: −$133
• HOA: −$264
• Vacancy / Maint / Mgmt: −$819
• Net cashflow: $823

Break-even live

Break-even rent $2,857

Max offer price $319,900

Occupancy floor 74%

Sensitivity live

Price	-10% $1,004	-5% $914	+0% $823	+5% $733	+10% $642
Rent	-10% $515	-5% $669	+0% $823	+5% $977	+10% $1,131
Rate	-1.0pp $984	-0.5pp $905	base $823	+0.5pp $740	+1.0pp $656

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: $79,975
• Closing costs: $9,597
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
78200 Cortez Ln #149 Indian Wells, CA	1.0	1.0	576	$2,200	$3.82	44d	1	0.01mi
78155 Cabrillo Ln #37 Indian Wells, CA	1.0	1.0	576	$3,500	$6.08	44d	1	0.03mi
78130 Cortez Ln Indian Wells, CA	1.0–2.0	1.0–2.0	874	$2,600	$2.97	44d	2	0.05mi
78490 Via Palomino Unit 101 La Quinta, CA	1.0	1.0	560	$1,800	$3.21	44d	1	1.17mi

HOA detail condo

• Monthly dues: $264 · $3,168/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 39 events

1. 2026-06-18
   days on market $319,900 Active 28 DOM
2. 2026-06-17
   days on market $319,900 Active 27 DOM
3. 2026-06-16
   days on market $319,900 Active 26 DOM
4. 2026-06-15
   days on market $319,900 Active 25 DOM
5. 2026-06-13
   days on market $319,900 Active 23 DOM
6. 2026-06-09
   days on market $319,900 Active 19 DOM
7. 2026-06-08
   days on market $319,900 Active 18 DOM
8. 2026-06-07
   days on market $319,900 Active 17 DOM
9. 2026-06-04
   days on market $319,900 Active 14 DOM
10. 2026-06-03
    days on market $319,900 Active 13 DOM
11. 2026-06-02
    days on market $319,900 Active 12 DOM
12. 2026-06-01
    days on market $319,900 Active 11 DOM
13. 2026-05-31
    days on market $319,900 Active 10 DOM
14. 2026-05-21
    listed $319,900 Active
15. 2015-11-09
    soldstatus $113,500 Sold 751-char remark

    Show marketing remark (751 chars)

    One of a kind charming Indian Wells condo with panoramic mountain views. This second floor studio with large patio area has it all. Oversized walk in closet w/ built ins, high vaulted ceilings w/ ceiling fan, close proximity to the community pool. Centrally located condo at the end of a private cul de sac in the guard gated community of Mountain Cove just off HWY 111 in the heart of the desert. Attention all investors this unit is currently set up in a vacation rental program and ready to go. Inquire for more details about rental income. Take advantage of all the perks of Indian Wells Resident ownership program. If you are looking for low maintenance this is it. Don't let this opportunity pass by. Patio has an outdoor BBQ! Turnkey furnished!

16. 2015-11-09
    soldstatus $113,500

    Show marketing remark (751 chars)

    One of a kind charming Indian Wells condo with panoramic mountain views. This second floor studio with large patio area has it all. Oversized walk in closet w/ built ins, high vaulted ceilings w/ ceiling fan, close proximity to the community pool. Centrally located condo at the end of a private cul de sac in the guard gated community of Mountain Cove just off HWY 111 in the heart of the desert. Attention all investors this unit is currently set up in a vacation rental program and ready to go. Inquire for more details about rental income. Take advantage of all the perks of Indian Wells Resident ownership program. If you are looking for low maintenance this is it. Don't let this opportunity pass by. Patio has an outdoor BBQ! Turnkey furnished!

17. 2015-11-06
    status Pending 751-char remark

    Show marketing remark (751 chars)

    One of a kind charming Indian Wells condo with panoramic mountain views. This second floor studio with large patio area has it all. Oversized walk in closet w/ built ins, high vaulted ceilings w/ ceiling fan, close proximity to the community pool. Centrally located condo at the end of a private cul de sac in the guard gated community of Mountain Cove just off HWY 111 in the heart of the desert. Attention all investors this unit is currently set up in a vacation rental program and ready to go. Inquire for more details about rental income. Take advantage of all the perks of Indian Wells Resident ownership program. If you are looking for low maintenance this is it. Don't let this opportunity pass by. Patio has an outdoor BBQ! Turnkey furnished!

18. 2015-10-10
    historical Contingent 751-char remark

    Show marketing remark (751 chars)

    One of a kind charming Indian Wells condo with panoramic mountain views. This second floor studio with large patio area has it all. Oversized walk in closet w/ built ins, high vaulted ceilings w/ ceiling fan, close proximity to the community pool. Centrally located condo at the end of a private cul de sac in the guard gated community of Mountain Cove just off HWY 111 in the heart of the desert. Attention all investors this unit is currently set up in a vacation rental program and ready to go. Inquire for more details about rental income. Take advantage of all the perks of Indian Wells Resident ownership program. If you are looking for low maintenance this is it. Don't let this opportunity pass by. Patio has an outdoor BBQ! Turnkey furnished!

19. 2015-09-25
    price $119,000 751-char remark

    Show marketing remark (751 chars)

    One of a kind charming Indian Wells condo with panoramic mountain views. This second floor studio with large patio area has it all. Oversized walk in closet w/ built ins, high vaulted ceilings w/ ceiling fan, close proximity to the community pool. Centrally located condo at the end of a private cul de sac in the guard gated community of Mountain Cove just off HWY 111 in the heart of the desert. Attention all investors this unit is currently set up in a vacation rental program and ready to go. Inquire for more details about rental income. Take advantage of all the perks of Indian Wells Resident ownership program. If you are looking for low maintenance this is it. Don't let this opportunity pass by. Patio has an outdoor BBQ! Turnkey furnished!

20. 2015-08-29
    listed $129,000 Active 751-char remark

    Show marketing remark (751 chars)

    One of a kind charming Indian Wells condo with panoramic mountain views. This second floor studio with large patio area has it all. Oversized walk in closet w/ built ins, high vaulted ceilings w/ ceiling fan, close proximity to the community pool. Centrally located condo at the end of a private cul de sac in the guard gated community of Mountain Cove just off HWY 111 in the heart of the desert. Attention all investors this unit is currently set up in a vacation rental program and ready to go. Inquire for more details about rental income. Take advantage of all the perks of Indian Wells Resident ownership program. If you are looking for low maintenance this is it. Don't let this opportunity pass by. Patio has an outdoor BBQ! Turnkey furnished!

21. 2014-11-12
    historical
22. 2014-10-09
    listed $129,000 Active
23. 2009-07-27
    historical
24. 2009-05-08
    price $159,000
25. 2009-03-10
    listed $179,000
26. 2008-12-10
    historical
27. 2008-07-22
    price $149,000
28. 2008-05-13
    price $165,000
29. 2008-04-02
    listed $185,000
30. 2005-10-28
    soldstatus $160,000
31. 2005-09-25
    historical
32. 2005-06-13
    historical
33. 2005-06-05
    listed $160,000
34. 2005-04-03
    listed $179,000
35. 1999-09-20
    soldstatus $1,914,000
36. 1999-06-29
    soldstatus $47,500
37. 1999-03-08
    historical
38. 1999-03-02
    listed $48,500
39. 1998-07-21
    soldstatus $47,500

ⓘ 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: $2,181 · $182/mo
• Projected year-2 tax: $2,431 · $203/mo
• Expected delta: +$250/yr (+$21/mo · 11.4%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 6 d/yr ≥114°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,785
• − Mortgage interest: −$17,919
• − Property taxes: −$2,181
• − Insurance: −$1,600
• − Repairs & maintenance: −$3,743
• − Management: −$3,743
• − HOA: −$3,168
• − Depreciation: −$9,306
• Taxable income: $5,125
• Est. tax owed @ 24.0%: −$1,230
• After-tax cash flow: $8,650/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: Desert Sands Unified
• NCES district ID: 0611110
• Math proficiency: 31% ▼ -4.00%
• Reading proficiency: 56% ▲ 7.00%
• Median HH income: $54,957
• Composite: 37.77/100
• National rank: #4346
• State rank: #199 of 517 in CA

Livability — Indian Wells

• Score: 53/100
• State rank: #968
• US rank: #24559

Category grades

Amenities F Commute F Cost of living F Crime B+ Employment A+ Housing C Health & safety C+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indian Wells, CA
• County: Riverside County · 2,287,001 people
• City population: 4,871
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 4,871
• Household income: $162,990
• Rent vs Own: 20.2% rent · 79.8% own
• Severe rent burden: 56.0

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: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 5% Two or more races 5% Asian 3% Black 3%
• Common ancestry: Slovak 5% Lithuanian 4% Romanian 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 92% English-only · Spanish 3% Russian/Polish/Slavic 1% Tagalog/Filipino 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: ▲ 3.76%
• Current HPI: 299.2632
• Rent YoY: —
• 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

+573.5% since first listed

26 events — show timeline

• 2026-05-21 Listed $319,900 TheMLS
• 2015-11-09 Sold (Public Records) $113,500 Public Records
• 2015-11-09 Sold (MLS) $113,500 GPSMLS
• 2015-11-06 Pending — GPSMLS
• 2015-10-10 Contingent — GPSMLS
• 2015-09-25 Price Changed $119,000 GPSMLS
• 2015-08-29 Listed $129,000 GPSMLS
• 2014-11-12 Listing Removed — GPSMLS
• 2014-10-09 Listed $129,000 GPSMLS
• 2009-07-27 Listing Removed — GPSMLS
• 2009-05-08 Price Changed $159,000 GPSMLS
• 2009-03-10 Listed $179,000 GPSMLS
• 2008-12-10 Listing Removed — GPSMLS
• 2008-07-22 Price Changed $149,000 GPSMLS
• 2008-05-13 Price Changed $165,000 GPSMLS
• 2008-04-02 Listed $185,000 GPSMLS
• 2005-10-28 Sold (Public Records) $160,000 Public Records
• 2005-09-25 Listing Removed — GPSMLS
• 2005-06-13 Listing Removed — GPSMLS
• 2005-06-05 Listed $160,000 GPSMLS
• 2005-04-03 Listed $179,000 GPSMLS
• 1999-09-20 Sold (Public Records) $1,914,000 Public Records
• 1999-06-29 Sold (Public Records) $47,500 Public Records
• 1999-03-08 Listing Removed — GPSMLS
• 1999-03-02 Listed $48,500 GPSMLS
• 1998-07-21 Sold (Public Records) $47,500 Public Records

Property tax history

-0.3%/yr

Latest (2025): $2,181 · +3.0% YoY. Source: county tax records.