344 Forest Hills Dr · Rancho Mirage, CA 92270

$339,000

2 bd · 2.0 ba · 1,535 sqft · Condo public records · 215 Days on market

Built 1980 $221/sqft · 25% below area Est $453k · 25% under $792/mo HOA · 19% of rent

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Why this score? — see what drove the C- 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 +16.2/30.0
• ARV discount +15.0/15.0
• 1% rule +7.5/10.0
• DSCR +5.0/10.0
• Rent growth +3.4/5.0
• Schools +2.7/10.0
• Livability +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * NEW Pricing 4/23/26 * * Quietly located away from roadways, this Desirable Mission Hills 2/2 condo is perfectly situated for mountain and greenbelt views and for quiet privacy. The single-story residence, with vaulted and beamed ceilings, allows abundant natural light throughout and lends a spacious, open feel. Two bedrooms, on opposite sides of the house, both feature vaulted ceilings and en-suite bathrooms. The primary suite offers dual separate vanities, a bathtub, and a gas fireplace. This model has a private, gated courtyard and a rear, southwest-facing patio that opens onto a greenbelt. Mission Hills Fitness Center, tennis, and pickleball courts are a stone's throw away. Mission Hills Country Club offers many membership levels to enjoy all the community's amenities. Welcome to Rancho Mirage! Why aren't you living here yet?

Key facts

• Greenbelt views
• En-suite bathrooms
• Mountain views

Tags

• MOUNTAIN VIEWS
• GREENBELT VIEWS
• PRIVATE GATED COURTYARD
• REAR SOUTHWEST FACING PATIO
• EN-SUITE BATHROOMS
• MISSION HILLS FITNESS CENTER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $339k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $339k).
• Recommended offer: $298k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 3.0% 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.
• Market conditions: Rents rising (+3.7%/yr); 529 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 72% 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).
• At $4,230/mo this rent would consume 47% of the median local household income ($107k/yr) (locally 498% 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 $10k 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 215 days — a 12% lower offer ($298k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $81k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $284k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 4→12/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $298,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 215 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.25% ✓
• Cap rate: 6.94%
• Cash-on-cash: 2.31%
• DSCR: 1.10
• GRM: 6.7

CMA / ARV

• ARV (median comp): $453,015
• List price: $339,000
• Delta: -25.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.72% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.58×
• Total profit: $-39,665
• Equity at exit: $50,546

10-year hold

• IRR: -0.6%
• Equity multiple: 0.95×
• Total profit: $-4,435
• Equity at exit: $29,311

Cash invested: $94,920 (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 92270

• Rents YoY: 3.7%
• Active inventory: 529
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $4,230 high
• Mortgage (P&I): −$1,778
• Tax from tax record: −$448 /mo · $5,375/yr
• Insurance: −$141
• HOA: −$792
• Vacancy / Maint / Mgmt: −$888
• Net cashflow: $182

Break-even live

Break-even rent $3,999

Max offer price $339,000

Occupancy floor 91%

Sensitivity live

Price	-10% $374	-5% $278	+0% $182	+5% $86	+10% $-10
Rent	-10% $-152	-5% $15	+0% $182	+5% $349	+10% $517
Rate	-1.0pp $353	-0.5pp $269	base $182	+0.5pp $95	+1.0pp $5

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: $84,750
• Closing costs: $10,170
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
343 Forest Hills Dr Rancho Mirage, CA	2.0	2.0	1535	$4,500	$2.93	44d	1	0.02mi
343 Forest Hills Dr Rancho Mirage, CA	2.0	2.0	1535	$4,500	$2.93	18d	1	0.02mi
415 Forest Hills Dr Rancho Mirage, CA	2.0	2.0	1535	$3,300	$2.15	44d	1	0.10mi
426 Forest Hills Dr Rancho Mirage, CA	2.0	2.0	1535	$3,600	$2.35	25d	1	0.17mi
436 Sunningdale Dr Rancho Mirage, CA	2.0	2.0	1535	$4,000	$2.61	44d	1	0.19mi
118 Racquet Club Dr Rancho Mirage, CA	2.0	2.0	1488	$2,900	$1.95	44d	1	0.25mi
464 Sunningdale Dr Rancho Mirage, CA	3.0	3.0	1751	$6,000	$3.43	44d	1	0.26mi
462 Sunningdale Dr Rancho Mirage, CA	2.0	2.0	1547	$3,750	$2.42	44d	1	0.28mi
107 Racquet Club Dr Rancho Mirage, CA	2.0	2.0	1488	$4,500	$3.02	44d	1	0.32mi
714 Inverness Dr Rancho Mirage, CA	3.0	3.0	2227	$3,500	$1.57	44d	1	0.59mi
624 Hospitality Dr Rancho Mirage, CA	2.0	2.0	2000	$3,295	$1.65	44d	1	0.64mi
82 Burgundy Rancho Mirage, CA	2.0	2.0	1438	$4,250	$2.96	19d	1	0.68mi
42 Colonial Dr Rancho Mirage, CA	3.0	3.0	2005	$3,600	$1.80	3d	1	0.75mi
42 Colonial Dr Rancho Mirage, CA	3.0	3.0	2005	$3,600	$1.80	22d	1	0.75mi
54 Pine Valley Dr Rancho Mirage, CA	3.0	2.0	1620	$5,000	$3.09	44d	1	0.77mi
26 Carmenere Rancho Mirage, CA	2.0	2.0	1438	$6,000	$4.17	44d	1	0.81mi
46 Vintage Rancho Mirage, CA	2.0	2.0	1657	$2,995	$1.81	44d	1	0.83mi
38 Pine Valley Dr Rancho Mirage, CA	2.0	2.0	1620	$6,500	$4.01	44d	1	0.84mi
34 Magnum Rancho Mirage, CA	2.0	2.0	1770	$3,800	$2.15	44d	1	0.85mi
35054 Mission Hills Dr Rancho Mirage, CA	2.0	2.0	1396	$2,549	$1.83	5d	1	0.85mi
69 Cabernet Rancho Mirage, CA	2.0	2.0	1438	$3,200	$2.23	44d	1	0.88mi
51 Pebble Beach Dr Rancho Mirage, CA	3.0	2.0	1806	$6,000	$3.32	44d	1	0.90mi
522 Desert West Dr Rancho Mirage, CA	2.0	2.0	1984	$4,500	$2.27	44d	1	0.94mi
35082 Mission Hills Dr Rancho Mirage, CA	2.0	2.5	1624	$3,250	$2.00	13d	1	0.96mi
35090 Mission Hills Dr Rancho Mirage, CA	2.0	2.0	1596	$3,950	$2.47	25d	1	0.98mi
35 Mission Ct Rancho Mirage, CA	3.0	2.0	1382	$4,125	$2.98	44d	1	1.00mi
38 Mission Ct Rancho Mirage, CA	3.0	3.0	1382	$3,500	$2.53	44d	1	1.00mi
8 Mission Ct Rancho Mirage, CA	2.0	2.0	1540	$2,500	$1.62	19d	1	1.03mi
34071 Denise Way Rancho Mirage, CA	3.0	2.0	1218	$2,599	$2.13	25d	1	1.13mi
34361 Denise Way Rancho Mirage, CA	3.0	2.0	1400	$2,800	$2.00	44d	1	1.14mi
91 Augusta Dr Rancho Mirage, CA	2.0	2.0	1620	$5,290	$3.27	44d	1	1.17mi
69603 Heather Way Rancho Mirage, CA	3.0	2.0	1218	$2,300	$1.89	44d	1	1.19mi
37 Shoreline Dr Rancho Mirage, CA	3.0	3.0	1928	$3,650	$1.89	44d	1	1.24mi
13 Vista Mirage Way Rancho Mirage, CA	3.0	2.0	2071	$3,700	$1.79	45d	1	1.28mi
99 Shoreline Dr Rancho Mirage, CA	3.0	3.0	2102	$4,000	$1.90	44d	1	1.29mi
59 Shoreline Dr Rancho Mirage, CA	3.0	3.5	2235	$3,995	$1.79	44d	1	1.31mi

HOA detail condo

• Monthly dues: $792 · $9,504/yr
• Likely covers: gasgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $339,000 Active 215 DOM
2. 2026-06-17
   days on market $339,000 Active 214 DOM
3. 2026-06-16
   days on market $339,000 Active 213 DOM
4. 2026-06-15
   days on market $339,000 Active 212 DOM
5. 2026-06-13
   days on market $339,000 Active 210 DOM
6. 2026-06-13
   days on market $339,000 Active 209 DOM
7. 2026-06-09
   days on market $339,000 Active 206 DOM
8. 2026-06-08
   days on market $339,000 Active 205 DOM
9. 2026-06-07
   days on market $339,000 Active 204 DOM
10. 2026-06-04
    pricedays on market $339,000 Active 201 DOM
11. 2026-06-03
    days on market $365,000 Active 200 DOM
12. 2026-06-02
    days on market $365,000 Active 199 DOM
13. 2026-06-01
    days on market $365,000 Active 198 DOM
14. 2026-05-31
    days on market $365,000 Active 197 DOM
15. 2026-04-23
    price $365,000 847-char remark

    Show marketing remark (847 chars)

    * * NEW Pricing 4/23/26 * * Quietly located away from roadways, this Desirable Mission Hills 2/2 condo is perfectly situated for mountain and greenbelt views and for quiet privacy. The single-story residence, with vaulted and beamed ceilings, allows abundant natural light throughout and lends a spacious, open feel. Two bedrooms, on opposite sides of the house, both feature vaulted ceilings and en-suite bathrooms. The primary suite offers dual separate vanities, a bathtub, and a gas fireplace. This model has a private, gated courtyard and a rear, southwest-facing patio that opens onto a greenbelt. Mission Hills Fitness Center, tennis, and pickleball courts are a stone's throw away. Mission Hills Country Club offers many membership levels to enjoy all the community's amenities. Welcome to Rancho Mirage! Why aren't you living here yet?

16. 2026-03-19
    price $375,000 847-char remark

    Show marketing remark (847 chars)

    * * NEW Pricing 4/23/26 * * Quietly located away from roadways, this Desirable Mission Hills 2/2 condo is perfectly situated for mountain and greenbelt views and for quiet privacy. The single-story residence, with vaulted and beamed ceilings, allows abundant natural light throughout and lends a spacious, open feel. Two bedrooms, on opposite sides of the house, both feature vaulted ceilings and en-suite bathrooms. The primary suite offers dual separate vanities, a bathtub, and a gas fireplace. This model has a private, gated courtyard and a rear, southwest-facing patio that opens onto a greenbelt. Mission Hills Fitness Center, tennis, and pickleball courts are a stone's throw away. Mission Hills Country Club offers many membership levels to enjoy all the community's amenities. Welcome to Rancho Mirage! Why aren't you living here yet?

17. 2026-01-16
    price $399,000 847-char remark

    Show marketing remark (847 chars)

    * * NEW Pricing 4/23/26 * * Quietly located away from roadways, this Desirable Mission Hills 2/2 condo is perfectly situated for mountain and greenbelt views and for quiet privacy. The single-story residence, with vaulted and beamed ceilings, allows abundant natural light throughout and lends a spacious, open feel. Two bedrooms, on opposite sides of the house, both feature vaulted ceilings and en-suite bathrooms. The primary suite offers dual separate vanities, a bathtub, and a gas fireplace. This model has a private, gated courtyard and a rear, southwest-facing patio that opens onto a greenbelt. Mission Hills Fitness Center, tennis, and pickleball courts are a stone's throw away. Mission Hills Country Club offers many membership levels to enjoy all the community's amenities. Welcome to Rancho Mirage! Why aren't you living here yet?

18. 2025-11-12
    listed $420,000 Active 847-char remark

    Show marketing remark (847 chars)

    * * NEW Pricing 4/23/26 * * Quietly located away from roadways, this Desirable Mission Hills 2/2 condo is perfectly situated for mountain and greenbelt views and for quiet privacy. The single-story residence, with vaulted and beamed ceilings, allows abundant natural light throughout and lends a spacious, open feel. Two bedrooms, on opposite sides of the house, both feature vaulted ceilings and en-suite bathrooms. The primary suite offers dual separate vanities, a bathtub, and a gas fireplace. This model has a private, gated courtyard and a rear, southwest-facing patio that opens onto a greenbelt. Mission Hills Fitness Center, tennis, and pickleball courts are a stone's throw away. Mission Hills Country Club offers many membership levels to enjoy all the community's amenities. Welcome to Rancho Mirage! Why aren't you living here yet?

19. 2011-06-01
    historical
20. 2010-11-16
    listed $233,900 Active
21. 2004-09-24
    soldstatus $284,500
22. 2004-08-27
    historical
23. 2004-07-10
    listed $289,000

ⓘ 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: $5,375 · $448/mo
• Projected year-2 tax: $5,375 · $448/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 4 d/yr ≥114°F today · 12 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: $50,754
• − Mortgage interest: −$18,989
• − Property taxes: −$5,375
• − Insurance: −$1,695
• − Repairs & maintenance: −$4,060
• − Management: −$4,060
• − HOA: −$9,504
• − Depreciation: −$9,862
• Taxable loss: −$2,792
• Est. tax savings @ 24.0%: +$670
• After-tax cash flow: $2,859/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 — 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 · 2,287,001 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: 498.0

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 (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%

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

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

+26.3% since first listed

9 events — show timeline

• 2026-04-23 Price Changed $365,000 TheMLS
• 2026-03-19 Price Changed $375,000 TheMLS
• 2026-01-16 Price Changed $399,000 TheMLS
• 2025-11-12 Listed $420,000 TheMLS
• 2011-06-01 Listing Removed — GPSMLS
• 2010-11-16 Listed $233,900 GPSMLS
• 2004-09-24 Sold (Public Records) $284,500 Public Records
• 2004-08-27 Listing Removed — GPSMLS
• 2004-07-10 Listed $289,000 GPSMLS

Property tax history

+2.9%/yr

Latest (2025): $5,375 · +40.5% YoY. Source: county tax records.