200 E Racquet Club Dr #35 · Palm Springs, CA 92262

$229,900

1 bd · 1.0 ba · 1,211 sqft · Condo public records · 69 Days on market

Built 1986 $190/sqft · 35% below area Est $351k · 35% under $525/mo HOA · 23% of rent

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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 +15.0/15.0
• Cash flow +8.1/30.0
• 1% rule +4.8/10.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Palm Springs condo unit offers 2 Bedroom and 1 bathroom. It features living and dining areas, ample natural light, an easy indoor-outdoor flow with a patio. The kitchen provides ample counter and storage, ideal for all. Both bedrooms are spacious. The community enjoys access to pools, landscaped grounds, and tennis courts. A must see!

Key facts

• Ample natural light
• Access to pools
• Landscaped grounds

Tags

• AMPLE NATURAL LIGHT
• ACCESS TO POOLS
• LANDSCAPED GROUNDS
• TENNIS COURTS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $230k.

Deal economics

• At list price, monthly cash flow is $-227 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (17.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (2.0% below list).
• Recommended offer: $190k (17.5% below list) — sets the bar for cash-flow.
• Cap rate 5.1% 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: crime F, cost of living F, health & safety 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: Vista Del Monte Elementary (482 students, 96% FRL); Raymond Cree Middle (708 students, 98% FRL); Palm Springs High (math 30% / reading 51%, grade F, #508 of 1,170 statewide, top 44%, 1,584 students, 97% FRL) — zoned schools average 97% FRL vs 73% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 660 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 51% 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).
• This rent runs 38% of the median local income ($72k/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 69 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 29y ago; this cycle's ask has dropped $22k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• 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 $189,733 (17.5% 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 69 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
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. 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: 0.98% ✗
• Cap rate: 5.11%
• Cash-on-cash: -4.24%
• DSCR: 0.81
• GRM: 8.5

CMA / ARV

• ARV (median comp): $351,331
• List price: $229,900
• Delta: -34.56%
• 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: -27.1%
• Equity multiple: 0.11×
• Total profit: $-57,059
• Equity at exit: $34,279

10-year hold

• IRR: -42.0%
• Equity multiple: -0.38×
• Total profit: $-89,049
• Equity at exit: $19,878

Cash invested: $64,372 (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: 660
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,253 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$181 /mo · $2,166/yr
• Insurance: −$96
• HOA: −$525
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $-227

Break-even live

Break-even rent $2,540

Max offer price $189,733

Occupancy floor —

Sensitivity live

Price	-10% $-97	-5% $-162	+0% $-227	+5% $-292	+10% $-358
Rent	-10% $-405	-5% $-316	+0% $-227	+5% $-138	+10% $-49
Rate	-1.0pp $-112	-0.5pp $-169	base $-227	+0.5pp $-287	+1.0pp $-348

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2636 N Indian Canyon Dr Palm Springs, CA	2.0	2.0	810	$1,812	$2.24	45d	1	0.05mi
200 E Racquet Club Rd Palm Springs, CA	2.0–3.0	1.0–2.0	1374	$3,000	$2.18	26d	3	0.08mi
3133 N Sunnyview Dr Palm Springs, CA	2.0	2.5	1500	$10,466	$6.98	45d	1	0.31mi
1995 N Via Miraleste #1112 Palm Springs, CA	2.0	2.0	1034	$5,500	$5.32	14d	1	0.48mi
2074 N Mira Vista Way Palm Springs, CA	2.0	1.5	1088	$1,999	$1.84	45d	1	0.48mi
1925 N Via Miraleste #1412 Palm Springs, CA	2.0	2.0	1036	$4,999	$4.83	45d	1	0.50mi
1925 N Via Miraleste #1412 Palm Springs, CA	2.0	2.0	1036	$4,999	$4.83	16d	1	0.50mi
3552 Melody Ln Palm Springs, CA	2.0	2.5	1343	$3,850	$2.87	45d	1	0.55mi
302 Breeze Loop Palm Springs, CA	2.0	2.5	1387	$3,750	$2.70	45d	1	0.60mi
401 E Vista Chino #1 Palm Springs, CA	2.0	2.0	1095	$2,250	$2.05	6d	1	0.67mi
1181 Sunflower Ln Palm Springs, CA	2.0	2.0	1068	$3,000	$2.81	45d	1	0.69mi
685 East Vista Chino Unit 10 Palm Springs, CA	2.0	1.0	900	$1,995	$2.22	26d	1	0.70mi
3775 El Dorado Blvd Unit 4 Palm Springs, CA	2.0	1.0	830	$1,950	$2.35	1d	1	0.70mi
3775 El Dorado Blvd Apt 3 Palm Springs, CA	2.0	1.0	830	$1,950	$2.35	45d	1	0.70mi
783 N Indian Canyon Dr Palm Springs, CA	2.0	1.0	631	$1,545	$2.45	9d	2	0.71mi
850 E Vista Chino Palm Springs, CA	2.0	2.0	850	$1,995	$2.35	45d	1	0.72mi
800 E Cottonwood Rd #2 Palm Springs, CA	2.0	1.5	816	$3,600	$4.41	45d	1	0.75mi
807 E Cottonwood Rd Unit 11 Palm Springs, CA	1.0	1.0	800	$1,475	$1.84	45d	1	0.79mi
392 E Stevens Rd Palm Springs, CA	1.0–2.0	1.0–2.0	822	$1,700	$2.07	1d	6	0.79mi
920 E Chuckwalla Rd Palm Springs, CA	2.0	1.0	1150	$1,875	$1.63	18d	1	0.82mi
920 E Chuckwalla Rd Palm Springs, CA	2.0	1.0	1150	$1,875	$1.63	26d	1	0.82mi
1421 Sunflower Cir N Palm Springs, CA	2.0	1.0	837	$3,000	$3.58	45d	1	0.84mi
1426 Sunflower Cir N Palm Springs, CA	2.0	1.0	837	$2,750	$3.29	45d	1	0.87mi
343 W Tramview Rd Unit 2 Palm Springs, CA	2.0	1.0	700	$1,600	$2.29	5d	1	0.90mi
197 W Vereda Norte Unit 5 Palm Springs, CA	1.0	1.0	800	$1,650	$2.06	1d	1	0.92mi
291 E Mel Ave Palm Springs, CA	2.0	2.0	902	$1,975	$2.19	9d	2	0.93mi
291 E Mel Ave #253 Palm Springs, CA	2.0	2.0	902	$1,850	$2.05	45d	1	0.93mi
291 E Mel Ave #342 Palm Springs, CA	2.0	2.0	902	$1,995	$2.21	0d	1	0.96mi
1407 N Sunrise Way #29 Palm Springs, CA	2.0	2.0	1100	$2,750	$2.50	45d	1	1.20mi
1407 N Sunrise Way Palm Springs, CA	1.0–2.0	1.0–2.0	935	$1,795	$1.92	9d	2	1.21mi
1405 N Sunrise Way #2 Palm Springs, CA	2.0	2.0	1170	$2,200	$1.88	45d	1	1.22mi
1411 N Sunrise Way Palm Springs, CA	2.0	2.0	1067	$1,899	$1.78	45d	1	1.28mi
1751 E Sandalwood Dr Palm Springs, CA	2.0	2.0	1050	$2,600	$2.48	26d	1	1.31mi
835 N Avenida Palmas Palm Springs, CA	1.0	1.0	770	$2,400	$3.12	45d	1	1.36mi
803 N Palm Canyon Dr Unit 08 Palm Springs, CA	2.0	2.0	1500	$3,299	$2.20	26d	1	1.38mi

HOA detail condo

• Monthly dues: $525 · $6,300/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-21
   days on market $229,900 Active 69 DOM
2. 2026-06-18
   days on market $229,900 Active 66 DOM
3. 2026-06-17
   days on market $229,900 Active 65 DOM
4. 2026-06-16
   days on market $229,900 Active 64 DOM
5. 2026-06-15
   days on market $229,900 Active 63 DOM
6. 2026-06-13
   days on market $229,900 Active 61 DOM
7. 2026-06-13
   days on market $229,900 Active 60 DOM
8. 2026-06-09
   days on market $229,900 Active 57 DOM
9. 2026-06-08
   days on market $229,900 Active 56 DOM
10. 2026-06-07
    days on market $229,900 Active 55 DOM
11. 2026-06-04
    days on market $229,900 Active 52 DOM
12. 2026-06-03
    days on market $229,900 Active 51 DOM
13. 2026-06-02
    days on market $229,900 Active 50 DOM
14. 2026-06-01
    days on market $229,900 Active 49 DOM
15. 2026-05-31
    days on market $229,900 Active 48 DOM
16. 2026-05-18
    price $229,900 341-char remark

    Show marketing remark (341 chars)

    This Palm Springs condo unit offers 2 Bedroom and 1 bathroom. It features living and dining areas, ample natural light, an easy indoor-outdoor flow with a patio. The kitchen provides ample counter and storage, ideal for all. Both bedrooms are spacious. The community enjoys access to pools, landscaped grounds, and tennis courts. A must see!

17. 2026-04-13
    listed $251,500 Active 341-char remark

    Show marketing remark (341 chars)

    This Palm Springs condo unit offers 2 Bedroom and 1 bathroom. It features living and dining areas, ample natural light, an easy indoor-outdoor flow with a patio. The kitchen provides ample counter and storage, ideal for all. Both bedrooms are spacious. The community enjoys access to pools, landscaped grounds, and tennis courts. A must see!

18. 2024-11-22
    price $349,000
19. 2024-10-25
    price $349,900
20. 2024-10-11
    price $349,990
21. 2024-09-26
    listed $349,999 Active
22. 2024-09-26
    price $349,999
23. 2024-09-22
    historical
24. 2023-01-26
    soldstatus $327,000 Closed Sale
25. 2023-01-26
    soldstatus $327,000
26. 2023-01-21
    status Pending Sale
27. 2022-12-22
    historical Active Under Contract
28. 2022-12-10
    price $359,999
29. 2022-08-08
    listed $379,000 Active
30. 1999-07-09
    soldstatus $67,000
31. 1999-07-01
    soldstatus $67,000
32. 1999-05-25
    historical
33. 1997-04-13
    listed $67,000

ⓘ 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: $2,166 · $181/mo
• Projected year-2 tax: $2,166 · $181/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 22 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: $27,031
• − Mortgage interest: −$12,878
• − Property taxes: −$2,166
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,163
• − Management: −$2,163
• − HOA: −$6,300
• − Depreciation: −$6,688
• Taxable loss: −$6,476
• Est. tax savings @ 24.0%: +$1,554
• After-tax cash flow: $-1,174/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: 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

+243.1% since first listed

18 events — show timeline

• 2026-05-18 Price Changed $229,900 CRMLS
• 2026-04-13 Listed $251,500 CRMLS
• 2024-11-22 Price Changed $349,000 CRMLS
• 2024-10-25 Price Changed $349,900 CRMLS
• 2024-10-11 Price Changed $349,990 CRMLS
• 2024-09-26 Listed $349,999 CRMLS
• 2024-09-26 Price Changed $349,999 CRMLS
• 2024-09-22 Coming Soon — CRMLS
• 2023-01-26 Sold (Public Records) $327,000 Public Records
• 2023-01-26 Sold (MLS) $327,000 CRMLS
• 2023-01-21 Pending — CRMLS
• 2022-12-22 Contingent — CRMLS
• 2022-12-10 Price Changed $359,999 CRMLS
• 2022-08-08 Listed $379,000 CRMLS
• 1999-07-09 Sold (Public Records) $67,000 Public Records
• 1999-07-01 Sold (MLS) $67,000 PALM
• 1999-05-25 Delisted — PALM
• 1997-04-13 Listed $67,000 PALM

Property tax history

+4.3%/yr

Latest (2025): $2,166 · -3.5% YoY. Source: county tax records.