69850 Hwy 111 #13 · Rancho Mirage, CA 92270

$225,000

2 bd · 2.0 ba · 1,050 sqft · Condo · 167 Days on market

55+ age-restricted Built 1957 Good condition $1114/mo HOA ↓ 7% since listing

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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).

• ARV discount +13.8/15.0
• Cash flow +12.2/30.0
• 1% rule +7.1/10.0
• DSCR +3.8/10.0
• Condition / age +3.8/5.0
• Rent growth +3.4/5.0
• Schools +2.7/10.0
• Livability +2.6/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MAJOR PRICE REDUCTION! Rarely available desirable ground floor unit boasts 2 patios, 2 bedrooms and 2 baths. Located in one of the premier locations within Desert Braemar with no views of cars or roadways. Bright and sunny this home has been lovingly maintained and is an unbelievable value in upscale Rancho Mirage. Often called the hidden gen of the desert the 12+ acres are impeccably maintained by 6 full time staff including 3 gardeners, 2 maintenance crew and an on-site manager. Enjoy care-free resort style living with every possible amenity including clubhouse, gym, library, pickleball, tennis, lawn bowling, shuffleboard, pool, spa , dog park, putting green, water, sewer, trash, maintenance and cable TV with premium channels. Your HOA covers all of this plus PROPETY TAXES! Another bonus, the home comes totally turnkey furnished. This fabulous location with easy access to Palm Springs and Palm Desert affords plenty of dining and shopping close by. A 55+ gated community with warm and welcoming neighbors this is a great place to call home. Stock Co-Op requires cash offers only. Agent is well versed in all that co-op living affords including monthly unit safety/security checks for seasonal residents. Please check out this rarely available unit located in this premium quiet location.

Key facts

• Ground floor unit
• Clubhouse
• 2 patios

Tags

• GROUND FLOOR UNIT
• 2 PATIOS
• 12 ACRES
• CLUBHOUSE
• GYM
• LIBRARY

🏢 Co-op / cooperative unit. The $225,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $225k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-159 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (10.2% below list).
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.4% vs local median 2.9% in Rancho Mirage — 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 51/100 on livability (#1,065 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+; Watch: amenities F, commute 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.
• Zoned schools: Rancho Mirage Elementary (309 students, 86% FRL); Nellie N. Coffman Middle (953 students, 98% FRL); Rancho Mirage High (math 15% / reading 38%, grade F, #804 of 1,170 statewide, top 69%, 1,491 students, 97% FRL) — zoned schools average 94% FRL vs 73% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.7%/yr); 600 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 74d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• This rent runs 36% of the median local income ($107k/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 $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 167 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $64k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $198,000 (12.0% 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 167 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.41% ✓
• Cap rate: 5.44%
• Cash-on-cash: -3.03%
• DSCR: 0.86
• GRM: 5.9

CMA / ARV

• ARV (median comp): $261,463
• List price: $225,000
• Delta: -13.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
69850 Highway 111 #243	0.10mi	2/2.0	1,050 (0%)	1mo	$199,000	$190	94
35983 Novio Ct	1.33mi	2/2.0	999 (-5%)	2mo	$91,000	$91	55
70260 Highway 111 #118	0.81mi	1/2.0 (-1)	994 (-5%)	2mo	$299,000	$301	50
70260 Highway 111 #32	0.65mi	2/2.0	920 (-12%)	1mo	$215,000	$234	48
246 S Paseo Laredo	0.82mi	3/2.0 (+1)	1,104 (+5%)	4mo	$65,000	$59	48
69746 Encanto Ct	1.47mi	3/2.0 (+1)	1,128 (+7%)	4mo	$295,000	$262	44
68613 E	1.32mi	3/2.5 (+1)	1,144 (+9%)	2mo	$465,000	$406	41
36251 Avenida De Las Montanas	1.17mi	2/2.0	1,220 (+16%)	0mo	$475,000	$389	40
36170 Avenida De Las Montanas	1.20mi	2/2.0	1,220 (+16%)	0mo	$500,000	$410	40
70260 Highway 111 #16	0.66mi	2/1.5	1,296 (+23%)	3mo	$283,000	$218	39
68832 E St	1.14mi	2/2.0	1,208 (+15%)	2mo	$447,000	$370	39
68797 F St	1.13mi	3/2.0 (+1)	1,200 (+14%)	1mo	$539,000	$449	35

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 · 3.72% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.31×
• Total profit: $-43,555
• Equity at exit: $33,548

10-year hold

• IRR: -9.2%
• Equity multiple: 0.39×
• Total profit: $-38,363
• Equity at exit: $19,454

Cash invested: $63,000 (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 →

Active competition Active MLS

• For sale now: 1 active
• Median asking: $274,500 ($261/sqft)
• Median days on market: 52 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -4.8% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 92270

• Rents YoY: 3.7%
• Active inventory: 600
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $3,177 high
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$1,114
• Vacancy / Maint / Mgmt: −$667
• Net cashflow: $-159

Break-even live

Break-even rent $3,378

Max offer price $201,950

Occupancy floor —

Sensitivity live

Price	-10% $-4	-5% $-82	+0% $-159	+5% $-237	+10% $-315
Rent	-10% $-410	-5% $-285	+0% $-159	+5% $-34	+10% $92
Rate	-1.0pp $-46	-0.5pp $-102	base $-159	+0.5pp $-218	+1.0pp $-277

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: $56,250
• Closing costs: $6,750
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37800 Da Vall Dr #12 Rancho Mirage, CA	2.0	2.0	1387	$2,400	$1.73	93d	1	0.47mi
37800 Da Vall Dr Rancho Mirage, CA	2.0	2.0	1393	$2,250	$1.61	2d	2	0.48mi
39905 Estates Rd Unit 3 Rancho Mirage, CA	2.0	2.0	1000	$1,800	$1.80	73d	1	0.65mi
70260 California 111 #24 Rancho Mirage, CA	2.0	1.0	836	$1,550	$1.85	93d	1	0.68mi
39955 Estates Rd Apt 11 Rancho Mirage, CA	2.0	2.0	1000	$2,395	$2.40	54d	1	0.69mi
70170 Sun Valley Dr Rancho Mirage, CA	2.0	2.0	1368	$3,800	$2.78	53d	1	0.75mi
251 S Paseo Laredo Cathedral City, CA	2.0	2.0	1440	$2,400	$1.67	93d	1	0.82mi
251 S Paseo Laredo Unit 251 Cathedral City, CA	1.0	2.0	1440	$2,550	$1.77	73d	1	0.82mi
37081 Palmdale Rd Rancho Mirage, CA	3.0	2.0	1470	$5,000	$3.40	2d	1	0.86mi
68695 F St Cathedral City, CA	3.0	2.5	896	$2,500	$2.79	93d	1	1.23mi
36040 Avenida de las Montanas Unit E Cathedral City, CA	2.0	2.0	1220	$3,200	$2.62	93d	1	1.33mi
152 Estrada Way #152 Cathedral City, CA	2.0	2.0	1500	$2,200	$1.47	93d	1	1.37mi
35 Mission Ct Rancho Mirage, CA	3.0	2.0	1382	$4,125	$2.98	23d	1	1.48mi
38 Mission Ct Rancho Mirage, CA	3.0	3.0	1382	$3,500	$2.53	93d	1	1.48mi
68550 Grove St Apt 201 Cathedral City, CA	2.0	2.5	1409	$3,650	$2.59	2d	1	1.48mi
68550 Grove St Unit 104 Cathedral City, CA	2.0	2.5	1332	$3,350	$2.52	2d	1	1.48mi
68550 Grove St Apt 102 Cathedral City, CA	1.0	1.5	849	$2,550	$3.00	2d	1	1.48mi

HOA detail $1,114/mo · $13,368/yr condo

• Likely covers: watersewertrashcablepoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $225,000 Active 167 DOM
2. 2026-08-06
   days on market $225,000 Active 165 DOM
3. 2026-08-05
   days on market $225,000 Active 164 DOM
4. 2026-08-04
   days on market $225,000 Active 163 DOM
5. 2026-08-03
   days on market $225,000 Active 162 DOM
6. 2026-07-31
   days on market $225,000 Active 159 DOM
7. 2026-07-30
   days on market $225,000 Active 157 DOM
8. 2026-07-28
   days on market $225,000 Active 156 DOM
9. 2026-07-26
   days on market $225,000 Active 154 DOM
10. 2026-07-24
    days on market $225,000 Active 152 DOM
11. 2026-07-23
    days on market $225,000 Active 151 DOM
12. 2026-07-22
    days on market $225,000 Active 150 DOM
13. 2026-07-21
    days on market $225,000 Active 149 DOM
14. 2026-07-20
    days on market $225,000 Active 148 DOM
15. 2026-07-18
    days on market $225,000 Active 146 DOM
16. 2026-07-18
    days on market $225,000 Active 145 DOM
17. 2026-07-16
    days on market $225,000 Active 144 DOM
18. 2026-07-15
    days on market $225,000 Active 143 DOM
19. 2026-07-14
    days on market $225,000 Active 142 DOM
20. 2026-07-13
    days on market $225,000 Active 141 DOM
21. 2026-07-13
    days on market $225,000 Active 140 DOM
22. 2026-07-11
    days on market $225,000 Active 139 DOM
23. 2026-07-10
    days on market $225,000 Active 138 DOM
24. 2026-07-09
    days on market $225,000 Active 137 DOM
25. 2026-07-07
    pricedays on market $225,000 Active 135 DOM
26. 2026-07-06
    days on market $249,900 Active 134 DOM
27. 2026-07-06
    statusdays on market $249,900 Active 133 DOM
28. 2026-07-05
    days on market $249,900 Active Under Contract 132 DOM
29. 2026-07-03
    days on market $249,900 Active Under Contract 131 DOM
30. 2026-07-02
    days on market $249,900 Active Under Contract 130 DOM
31. 2026-07-01
    days on market $249,900 Active Under Contract 129 DOM
32. 2026-06-30
    days on market $249,900 Active Under Contract 128 DOM
33. 2026-06-29
    days on market $249,900 Active Under Contract 127 DOM
34. 2026-06-28
    days on market $249,900 Active Under Contract 126 DOM
35. 2026-06-27
    days on market $249,900 Active Under Contract 125 DOM
36. 2026-06-26
    days on market $249,900 Active Under Contract 124 DOM
37. 2026-06-24
    days on market $249,900 Active Under Contract 122 DOM
38. 2026-06-22
    days on market $249,900 Active Under Contract 120 DOM
39. 2026-06-21
    statusdays on market $249,900 Active Under Contract 119 DOM
40. 2026-06-18
    days on market $249,900 Active 116 DOM
41. 2026-06-17
    days on market $249,900 Active 115 DOM
42. 2026-06-16
    days on market $249,900 Active 114 DOM
43. 2026-06-15
    days on market $249,900 Active 113 DOM
44. 2026-06-13
    days on market $249,900 Active 111 DOM
45. 2026-06-13
    days on market $249,900 Active 110 DOM
46. 2026-06-09
    days on market $249,900 Active 107 DOM
47. 2026-06-08
    days on market $249,900 Active 106 DOM
48. 2026-06-07
    days on market $249,900 Active 105 DOM
49. 2026-06-04
    days on market $249,900 Active 102 DOM
50. 2026-06-03
    days on market $249,900 Active 101 DOM

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 22 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: $38,121
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$3,050
• − Management: −$3,050
• − HOA: −$13,368
• − Depreciation: −$6,545
• Taxable loss: −$4,995
• Est. tax savings @ 24.0%: +$1,199
• After-tax cash flow: $-713/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 · 13 photos

Good 75/100 Cosmetic rehab Est. rehab $5,250–$15,750 screening

This well-maintained and updated condo is in excellent condition with a good curb appeal and minimal repairs needed.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and prevents water damage ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 26/100

Zoned Schools

Elementary Rancho Mirage Elementary Middle Nellie N. Coffman Middle High Rancho Mirage High F CA #804/1,170 Nat'l #12,196/17,239

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

D Composite livability gradescore 51/100

Livability — Rancho Mirage

• Score: 51/100
• State rank: #1065
• US rank: #25255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rancho Mirage, CA
• County: Riverside County · 2,664,475 people
• City population: 17,563
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 17,563
• Household income: $107,364
• Rent vs Own: 18.0% rent · 82.0% own
• Severe rent burden: 21% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 15% Two or more races 6% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 4% Romanian 3% Lithuanian 3%
• Foreign-born: 17% · Canada, South Korea, China
• Languages at home: 81% English-only · Spanish 11% Other Indo-European 3% French/Haitian/Cajun 1%

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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: ▼ -210.99%
• Current HPI: 282.2957
• Rent YoY: ▲ 3.72%
• Metro: Riverside-San Bernardino-Ontario, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

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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

-6.6% since first listed

9 events — show timeline

• 2026-04-22 Price Changed $249,900 GPSMLS
• 2026-04-02 Price Changed $269,900 GPSMLS
• 2026-02-22 Listed $289,500 GPSMLS
• 2025-02-10 Sold (MLS) $280,000 GPSMLS
• 2025-01-15 Pending — GPSMLS
• 2024-12-18 Contingent — GPSMLS
• 2024-12-05 Listed $300,000 GPSMLS
• 2023-02-17 Sold (MLS) $267,500 GPSMLS
• 2023-02-15 Listed $267,500 GPSMLS