69333 Palm Canyon Dr #169 · Cathedral City, CA 92234

$119,000

1 bd · 1.0 ba · 400 sqft · Manufactured · 88 Days on market

Built 1999 Est $110k · 8% over $238/mo HOA · 13% of rent ↓ 5% since listing

---

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 +29.2/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +3.8/15.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

An outstanding opportunity to acquire the Crown Jewel of the community. One of Sungate's most admired homes is available featuring an exceptional setting that affords privacy and gorgeous mountain views. Live intentionally in this light filled home with an expansive covered outdoor living room with fabulous views that is the envy of all. Features include a gorgeous center island kitchen with bay window dining area. Living room features attractive built-ins and architectural windows that capture the mountain top views. Queen sized bedroom has built-in nightstands, generous closet with built in dresser and drawers. This home has storage galore! Sungate is a premier 55+community with an exce

Key facts

• Mountain views
• Built-ins
• Parking

Tags

• MOUNTAIN VIEWS
• COVERED OUTDOOR LIVING ROOM
• CENTER ISLAND KITCHEN
• BAY WINDOW DINING AREA
• BUILT-INS
• ARCHITECTURAL WINDOWS

Property features AI

Finance

• Other: Rent includes trash collection and water; Possession at close of escrow; Park name: Sungate; Directions: Enter Sungate gate off Palm Canyon Drive
• Financial info: Land lease (lease) — annual land lease $1,152; Private transfer taxes apply
• HOA & community: Clubhouse; Pool; Gated community; Exercise room; Other community amenities; Association dues: $238/month; Association fees include water and clubhouse; 218 total units in the community; Senior park

Exterior

• Parking: Attached carport; One covered parking space
• Security: Gated
• Utilities: Water included in rent; Trash collection included in rent
• Home design: Residential mobile home; Single-story; Mobile home will remain on site; Located in a senior park (Sungate)
• Construction: Mobile home (make: Secret); License #1: 1HX9865
• Exterior features: Tile covered patio; Community pool (in-ground, heated); Community spa (heated); Has mountain views; Gated community

Interior

• Kitchen: Microwave; Convection oven; Range/Oven; Refrigerator; Dishwasher
• Flooring: Other flooring
• Bathrooms: Shower stall; One 3/4 bathroom
• Heating & cooling: Other heating; Other cooling
• Interior features: Built-in storage
• Laundry & utility: Washer; Dryer; Laundry: other (see remarks)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $119k.

Deal economics

• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $112k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 5.1% in Cathedral City — 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 (#344 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing B+; Watch: employment D+, schools F, amenities D-.
• 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 (+3.2%/yr); 525 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• This rent runs 30% of the median local income ($74k/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 $823 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $33k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($112k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 8→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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.

Investment metrics

• 1% rule: 1.57% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.91%
• DSCR: 1.66
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $110,000
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
69333 Palm Canyon Dr #169	0.00mi	1/1.0	400 (0%)	1mo	$114,000	$285	100
69333 E Palm Canyon Dr #33	0.00mi	1/1.0	400 (0%)	3mo	$96,000	$240	97
69333 E Palm Canyon Dr #20	0.00mi	1/1.0	400 (0%)	4mo	$65,000	$163	97
69333 E Palm Canyon Dr #150	0.02mi	1/1.0	400 (0%)	4mo	$65,000	$163	96
69333 E Palm Canyon Dr #73	0.00mi	1/1.0	400 (0%)	5mo	$55,000	$138	96
69333 E Palm Canyon Dr #82	0.00mi	1/1.0	400 (0%)	10mo	$75,000	$188	92
69333 E Palm Canyon Dr #32	0.00mi	1/1.0	400 (0%)	14mo	$142,000	$355	88
69333 E Palm Canyon Dr #85	0.00mi	1/1.0	400 (0%)	15mo	$115,000	$288	87
69333 E Palm Canyon Dr #28	0.00mi	1/1.0	400 (0%)	20mo	$120,000	$300	84
69333 E Palm Canyon Dr #207	0.00mi	1/1.0	400 (0%)	20mo	$110,000	$275	84
69333 E Palm Canyon Dr #22	0.00mi	1/1.0	400 (0%)	24mo	$128,000	$320	80

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 · 3.22% rent growth · sell at horizon

5-year hold

• IRR: 5.9%
• Equity multiple: 1.23×
• Total profit: $7,676
• Equity at exit: $17,743

10-year hold

• IRR: 15.6%
• Equity multiple: 2.29×
• Total profit: $43,057
• Equity at exit: $10,289

Cash invested: $33,320 (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 92234

• Home prices YoY: -27.7%
• Rents YoY: 3.2%
• Active inventory: 525
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,866 medium
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,785/yr
• Insurance: −$50
• HOA: −$238
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $414

Break-even live

Break-even rent $1,342

Max offer price $119,000

Occupancy floor 73%

Sensitivity live

Price	-10% $496	-5% $455	+0% $414	+5% $373	+10% $332
Rent	-10% $267	-5% $340	+0% $414	+5% $488	+10% $561
Rate	-1.0pp $474	-0.5pp $444	base $414	+0.5pp $383	+1.0pp $352

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37219 Melrose Dr Cathedral City, CA	—	1.0	300	$1,295	$4.32	44d	1	0.74mi
36291 Corte Aguila Cathedral City, CA	1.0	1.0	250	$1,800	$7.20	44d	1	0.89mi

HOA detail

• Monthly dues: $238 · $2,856/yr

Listing history 4 events

1. 2026-05-15
   status Pending
2. 2026-04-24
   historical Backup Offers Accepted
3. 2026-04-08
   price $119,000
4. 2026-02-15
   listed $125,000 Active

ⓘ 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 8 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,396
• − Mortgage interest: −$6,666
• − Property taxes: −$1,785
• − Insurance: −$595
• − Repairs & maintenance: −$1,792
• − Management: −$1,792
• − HOA: −$2,856
• − Depreciation: −$3,462
• Taxable income: $3,449
• Est. tax owed @ 24.0%: −$828
• After-tax cash flow: $4,141/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 — Cathedral City

• Score: 66/100
• State rank: #344
• US rank: #11749

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cathedral City, CA
• County: Riverside County · 2,287,001 people
• City population: 52,267
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 52,267
• Household income: $73,572
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 1682.0

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 0.56)
• Race & ethnicity: Hispanic / Latino 59% White 30% Two or more races 27% Asian 6% Native American 2% Black 2%
• Hispanic origin (detail): Mexican 51%
• Common ancestry: Lithuanian 2% Romanian 1% Italian 1%
• Foreign-born: 28% · Canada, Vietnam
• Languages at home: 48% English-only · Spanish 46% Tagalog/Filipino 3% Other Asian/Pacific 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: ▼ -136.57%
• Current HPI: 356.9845
• Rent YoY: ▲ 3.22%
• 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

-4.8% since first listed

4 events — show timeline

• 2026-05-15 Pending — TheMLS
• 2026-04-24 Contingent — TheMLS
• 2026-04-08 Price Changed $119,000 TheMLS
• 2026-02-15 Listed $125,000 TheMLS

Property tax history

+1.6%/yr

Latest (2014): $178 · -1.6% YoY. Source: county tax records.