2521 N Whitewater Clb · Palm Springs, CA 92262

$245,000

2 bd · 1.5 ba · 1,356 sqft · Condo · 222 Days on market

Built 1972 Good condition $181/sqft · 33% below area Est $366k · 33% under $499/mo HOA · 14% of rent ↓ 2% 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 +26.8/30.0
• ARV discount +15.0/15.0
• 1% rule +9.8/10.0
• DSCR +9.2/10.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Rent growth +2.6/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Approved short sale - Welcome to this stunning two-story condo in the heart of Palm Springs, offering the perfect blend of modern upgrades and desert charm. This beautifully updated home features two spacious bedrooms and one full bathrooms, with the primary suite offering an extended area ideal for a home office or cozy sitting space. Enjoy stylish new flooring throughout, an inviting living room that opens to a private patio—perfect for relaxing or entertaining—and a gourmet kitchen complete with quartz countertops, porcelain tile backsplash, soft-close slab cabinetry, and stainless steel appliances. Located in a well-maintained, gated community, residents enjoy premium amenities including cable, internet, water, trash service, a sparkling saltwater pool, and a soothing jacuzzi. Just minutes from Uptown Palm Springs, with its vibrant restaurants, shops, and nearby golf courses, this condo makes a wonderful weekend getaway, full-time residence, or vacation rental investment. Experience modern luxury and effortless living—schedule your private showing today and make this Palm Springs paradise your own.

Key facts

• Quartz countertops
• Saltwater pool
• Gourmet kitchen

Tags

• TWO STORY CONDO
• PRIVATE PATIO
• GOURMET KITCHEN
• QUARTZ COUNTERTOPS
• SALTWATER POOL
• SOOTHING JACUZZI

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $245k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $669 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $245k).
• Recommended offer: $216k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 2.7% in Palm Springs — 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 (#348 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+; Watch: schools C-, crime F, 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.
• Market conditions: Rents flat; 647 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $3,622/mo this rent would consume 61% of the median local household income ($72k/yr) (locally 1866% 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 222 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.

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 $215,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 222 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 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.48% ✓
• Cap rate: 9.57%
• Cash-on-cash: 11.71%
• DSCR: 1.52
• GRM: 5.6

CMA / ARV

• ARV (median comp): $365,676
• List price: $245,000
• Delta: -33.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.46% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.92×
• Total profit: $-5,728
• Equity at exit: $36,530

10-year hold

• IRR: 3.8%
• Equity multiple: 1.24×
• Total profit: $16,175
• Equity at exit: $21,183

Cash invested: $68,600 (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 92262

• Rents YoY: 0.5%
• Active inventory: 647
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $3,622 high
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• HOA: −$499
• Vacancy / Maint / Mgmt: −$761
• Net cashflow: $669

Break-even live

Break-even rent $2,775

Max offer price $245,000

Occupancy floor 77%

Sensitivity live

Price	-10% $839	-5% $754	+0% $669	+5% $585	+10% $500
Rent	-10% $383	-5% $526	+0% $669	+5% $813	+10% $956
Rate	-1.0pp $793	-0.5pp $732	base $669	+0.5pp $606	+1.0pp $541

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3010 E Verona Rd Palm Springs, CA	3.0	2.0	1700	$4,500	$2.65	44d	1	0.05mi
2522 N Whitewater Club Dr Unit C Palm Springs, CA	2.0	2.0	1101	$4,320	$3.92	44d	1	0.07mi
3033 E Verona Rd Palm Springs, CA	3.0	2.0	1652	$2,999	$1.82	25d	1	0.08mi
2342 N San Gorgonio Rd Palm Springs, CA	3.0	3.0	1700	$4,275	$2.51	44d	1	0.15mi
2375 N San Antonio Rd Palm Springs, CA	3.0	2.0	1382	$3,600	$2.60	25d	1	0.15mi
2750 E Vincentia Rd Palm Springs, CA	3.0	2.0	1826	$4,400	$2.41	25d	1	0.21mi
2240 N San Gorgonio Rd Palm Springs, CA	3.0	2.0	1260	$3,600	$2.86	25d	1	0.23mi
2235 N Los Alamos Rd Palm Springs, CA	3.0	2.0	1399	$5,000	$3.57	44d	1	0.25mi
2660 N Farrell Dr Palm Springs, CA	3.0	2.0	1696	$4,900	$2.89	44d	1	0.33mi
2200 Acacia Rd E Palm Springs, CA	3.0	2.0	1597	$5,800	$3.63	20d	1	0.44mi
2200 Acacia Rd E Palm Springs, CA	3.0	2.0	1597	$5,800	$3.63	44d	1	0.44mi
2290 N Victoria Rd Palm Springs, CA	3.0	3.0	1752	$5,270	$3.01	44d	1	0.44mi
2455 E Rogers Rd Palm Springs, CA	3.0	2.0	1403	$3,900	$2.78	25d	1	0.46mi
2415 E Finley Rd Palm Springs, CA	3.0	2.0	1600	$3,560	$2.23	44d	1	0.51mi
2184 E Powell Rd Palm Springs, CA	3.0	2.0	1391	$3,500	$2.52	15d	1	0.52mi
2184 E Powell Rd Palm Springs, CA	3.0	2.0	1391	$3,500	$2.52	44d	1	0.52mi
2223 N Magnolia Rd Palm Springs, CA	3.0	2.0	1472	$3,600	$2.45	25d	1	0.52mi
2525 N Cerritos Rd Palm Springs, CA	3.0	2.0	1345	$7,495	$5.57	44d	1	0.57mi
2525 N Cerritos Rd Palm Springs, CA	3.0	2.0	1345	$7,495	$5.57	15d	1	0.57mi
2601 N Cerritos Rd Palm Springs, CA	3.0	2.0	1224	$3,095	$2.53	17d	1	0.57mi
2600 N Chuperosa Rd Palm Springs, CA	3.0	2.0	1447	$3,875	$2.68	44d	1	0.64mi
2295 Nicola Rd E Palm Springs, CA	3.0	2.0	1338	$3,990	$2.98	44d	1	0.65mi
3663 E Paseo Barbara Palm Springs, CA	3.0	2.0	1708	$3,499	$2.05	44d	1	0.73mi
2630 N Biskra Rd Palm Springs, CA	3.0	2.0	1450	$2,900	$2.00	5d	1	0.74mi
3005 N Chuperosa Rd Palm Springs, CA	3.0	2.0	1134	$3,500	$3.09	44d	1	0.75mi
2990 N Bahada Rd Palm Springs, CA	3.0	2.0	1550	$6,000	$3.87	44d	1	0.75mi
3370 E Avenida Fey Norte Palm Springs, CA	3.0	2.0	1518	$5,500	$3.62	44d	1	0.76mi
1751 E Sandalwood Dr Palm Springs, CA	2.0	2.0	1050	$2,600	$2.48	25d	1	1.11mi
1331 E Luna Way Palm Springs, CA	3.0	2.0	1512	$4,900	$3.24	44d	1	1.16mi
1411 N Sunrise Way Palm Springs, CA	2.0	2.0	1067	$1,899	$1.78	44d	1	1.16mi
2564 N Aurora Dr Palm Springs, CA	3.0	2.0	1354	$3,500	$2.58	44d	1	1.17mi
1181 Sunflower Ln Palm Springs, CA	2.0	2.0	1068	$3,000	$2.81	44d	1	1.18mi
1407 N Sunrise Way #29 Palm Springs, CA	2.0	2.0	1100	$2,750	$2.50	44d	1	1.19mi
1407 N Sunrise Way Palm Springs, CA	1.0–2.0	1.0–2.0	935	$2,750	$2.94	8d	2	1.19mi
1405 N Sunrise Way #2 Palm Springs, CA	2.0	2.0	1170	$2,200	$1.88	44d	1	1.22mi
1020 N Cerritos Dr Palm Springs, CA	3.0	2.0	1516	$13,950	$9.20	44d	1	1.23mi
1123 E El Cid Palm Springs, CA	3.0	2.0	1722	$4,775	$2.77	44d	1	1.29mi
915 E Racquet Club Rd Palm Springs, CA	3.0	2.0	1225	$7,480	$6.11	15d	1	1.35mi
915 E Racquet Club Rd Palm Springs, CA	3.0	2.0	1225	$7,480	$6.11	44d	1	1.35mi
837 N Calle de Pinos Palm Springs, CA	2.0	2.0	1200	$2,245	$1.87	20d	1	1.42mi

HOA detail condo

• Monthly dues: $499 · $5,988/yr
• Likely covers: watertrashinternetcablepoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-05-31
   days on market $245,000 Active 222 DOM
2. 2026-05-15
   price $270,000 1137-char remark

   Show marketing remark (1137 chars)

   Approved short sale - Welcome to this stunning two-story condo in the heart of Palm Springs, offering the perfect blend of modern upgrades and desert charm. This beautifully updated home features two spacious bedrooms and one full bathrooms, with the primary suite offering an extended area ideal for a home office or cozy sitting space. Enjoy stylish new flooring throughout, an inviting living room that opens to a private patio—perfect for relaxing or entertaining—and a gourmet kitchen complete with quartz countertops, porcelain tile backsplash, soft-close slab cabinetry, and stainless steel appliances. Located in a well-maintained, gated community, residents enjoy premium amenities including cable, internet, water, trash service, a sparkling saltwater pool, and a soothing jacuzzi. Just minutes from Uptown Palm Springs, with its vibrant restaurants, shops, and nearby golf courses, this condo makes a wonderful weekend getaway, full-time residence, or vacation rental investment. Experience modern luxury and effortless living—schedule your private showing today and make this Palm Springs paradise your own.

3. 2025-12-10
   price $329,000 1137-char remark

   Show marketing remark (1137 chars)

   Approved short sale - Welcome to this stunning two-story condo in the heart of Palm Springs, offering the perfect blend of modern upgrades and desert charm. This beautifully updated home features two spacious bedrooms and one full bathrooms, with the primary suite offering an extended area ideal for a home office or cozy sitting space. Enjoy stylish new flooring throughout, an inviting living room that opens to a private patio—perfect for relaxing or entertaining—and a gourmet kitchen complete with quartz countertops, porcelain tile backsplash, soft-close slab cabinetry, and stainless steel appliances. Located in a well-maintained, gated community, residents enjoy premium amenities including cable, internet, water, trash service, a sparkling saltwater pool, and a soothing jacuzzi. Just minutes from Uptown Palm Springs, with its vibrant restaurants, shops, and nearby golf courses, this condo makes a wonderful weekend getaway, full-time residence, or vacation rental investment. Experience modern luxury and effortless living—schedule your private showing today and make this Palm Springs paradise your own.

4. 2025-10-20
   listed $275,000 Active 1137-char remark

   Show marketing remark (1137 chars)

   Approved short sale - Welcome to this stunning two-story condo in the heart of Palm Springs, offering the perfect blend of modern upgrades and desert charm. This beautifully updated home features two spacious bedrooms and one full bathrooms, with the primary suite offering an extended area ideal for a home office or cozy sitting space. Enjoy stylish new flooring throughout, an inviting living room that opens to a private patio—perfect for relaxing or entertaining—and a gourmet kitchen complete with quartz countertops, porcelain tile backsplash, soft-close slab cabinetry, and stainless steel appliances. Located in a well-maintained, gated community, residents enjoy premium amenities including cable, internet, water, trash service, a sparkling saltwater pool, and a soothing jacuzzi. Just minutes from Uptown Palm Springs, with its vibrant restaurants, shops, and nearby golf courses, this condo makes a wonderful weekend getaway, full-time residence, or vacation rental investment. Experience modern luxury and effortless living—schedule your private showing today and make this Palm Springs paradise your own.

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,468
• − Mortgage interest: −$13,724
• − Property taxes: −$3,675
• − Insurance: −$1,225
• − Repairs & maintenance: −$3,477
• − Management: −$3,477
• − HOA: −$5,988
• − Depreciation: −$7,127
• Taxable income: $4,774
• Est. tax owed @ 24.0%: −$1,146
• After-tax cash flow: $6,888/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 two-story condo in Palm Springs is in good condition with modern upgrades and desert charm. It offers two spacious bedrooms, a gourmet kitchen, and a private patio. The property is well-maintained and ready for move-in.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace window treatments — Improves energy efficiency and aesthetics
• Both Install smart home devices — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace window treatments — Improves energy efficiency and aesthetics ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

ⓘ 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 — Palm Springs

• Score: 66/100
• State rank: #348
• US rank: #11850

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Springs, CA
• County: Riverside County · 2,287,001 people
• City population: 46,786
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 26,887
• Household income: $71,672
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 1866.0

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 0.58)
• Race & ethnicity: White 58% Hispanic / Latino 27% Two or more races 13% Black 9% Asian 3%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Lithuanian 3% Slovak 3% Italian 2%
• Foreign-born: 17% · Canada, China
• Languages at home: 75% English-only · Spanish 19% French/Haitian/Cajun 1% German/W. Germanic 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: ▼ -1082.67%
• Current HPI: 434.0524
• Rent YoY: ▲ 0.46%
• 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

-1.8% since first listed

3 events — show timeline

• 2026-05-15 Price Changed $270,000 CRMLS
• 2025-12-10 Price Changed $329,000 CRMLS
• 2025-10-20 Listed $275,000 CRMLS