69433 Parkside Dr

Desert Edge, CA 92241

$195,000F

2 bd · 2.0 ba · 1,200 sqft · Built 1974 · Manufactured · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,526/mo
• Mortgage (P&I): −$1,023
• Tax + insurance: −$184
• HOA: −$0
• Vac / Maint / Mgmt: −$321
• Net cashflow: $-0/mo
• Annual: $-5/yr
• Cap rate: 6.29%
• Cash-on-cash: -0.01%
• DSCR: 1.00
• 1% rule: 0.78%
• Cash to close: $54,600

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $195k.
• At list price, monthly cash flow is $0 ($-5/yr) — negative.
• To cash-flow at today's rent, offer at most $195k (0.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (21.7% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $153k (21.7% below list) — sets the bar for 1% rule.
• 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.
• Location reads 68/100 on livability (#297 in CA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, commute D-, employment 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: Julius Corsini Elementary (409 students, 98% FRL); Desert Springs Middle (803 students, 99% FRL); Desert Hot Springs High (math 27% / reading 52%, grade F, #532 of 1,170 statewide, top 48%, 1,742 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: 218 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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).
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $60k; list at $195k implies a 225% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 4→12/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.3% vs local median 14.6% in Desert Edge — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Questions for listing agent

• 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?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.