72865 La Canada Way · Thousand Palms, CA 92276

$350,000

4 bd · 2.0 ba · 1,817 sqft · SingleFamily public records · 77 Days on market

Built 1951 7,405 sqft lot $193/sqft · 18% below area Est $426k · 18% under

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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 +13.1/30.0
• DSCR +3.9/10.0
• 1% rule +3.1/10.0
• Schools +2.7/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

;; * * Prime Investment Opportunity - R2 Corner Lot with Expansion Potential! * * ; ; Attention investors and developers! This 4 bedroom 2 bath * * 1,812 sq ft main home * * features a fireplace and sits on a desirable * * R2-zoned corner lot * * , offering strong upside potential. Property is a fixer with fire damage to the garage wall and storage area--ready for a full renovation and value-add improvements. * * Major Income Potential: * * The original plans included a * * six-car garage * * , providing the perfect footprint to convert into a * * 2-bedroom, 1-bath additional unit (ADU) * * --ideal for maximizing rental income and boosting property value. Bring your vision and unlock the full potential of this high-opportunity property!

Key facts

• R2 corner lot
• Full renovation
• Six-car garage

Tags

• R2 CORNER LOT
• FIREPLACE
• FULL RENOVATION
• SIX-CAR GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-138 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $326k (7.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (19.1% below list).
• Recommended offer: $283k (19.1% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 5.2% in Thousand Palms — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 53/100 on livability (#950 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: cost of living D, crime F, amenities 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: Della S. Lindley Elementary (584 students, 96% 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 97% FRL vs 73% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 101 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% 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).

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 77 days — a 6% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 17y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $91k; list at $350k implies a 284% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance); extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $283,273 (19.1% 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 77 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.81% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.19%
• DSCR: 0.99
• GRM: 10.3

CMA / ARV

• ARV (median comp): $426,379
• List price: $350,000
• Delta: -17.91%
• 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
31623 Arbol Real Ave	0.06mi	4/2.0	1,878 (+3%)	7mo	$464,000	$247	86
30710 Arbol Real	0.41mi	4/2.0	1,842 (+1%)	2mo	$455,000	$247	76
30940 Robert Rd	0.46mi	4/2.0	1,866 (+3%)	2mo	$475,000	$255	72
31060 Monte Vista Way	0.24mi	3/2.0 (-1)	1,684 (-7%)	2mo	$380,000	$226	70
31580 Via Pared	0.30mi	4/2.0	1,697 (-7%)	7mo	$505,000	$298	69
30914 Robert Rd	0.47mi	4/2.0	1,754 (-4%)	7mo	$485,000	$277	66
31292 Via Ventana	0.28mi	4/2.0	1,582 (-13%)	3mo	$530,000	$335	63
30654 Robert Rd	0.56mi	4/2.0	1,754 (-4%)	9mo	$510,000	$291	60
31320 Via Pared	0.32mi	4/3.0	1,582 (-13%)	2mo	$449,000	$284	58
31112 Via Pared	0.37mi	4/2.0	1,582 (-13%)	6mo	$500,000	$316	56
31100 Desert Palm Dr	0.62mi	3/2.0 (-1)	1,766 (-3%)	6mo	$525,000	$297	56
30250 Monte Vista Way	0.66mi	4/2.0	1,664 (-8%)	8mo	$415,000	$249	48

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -19.1%
• Equity multiple: 0.33×
• Total profit: $-65,486
• Equity at exit: $52,186

10-year hold

• IRR: -11.7%
• Equity multiple: 0.30×
• Total profit: $-68,273
• Equity at exit: $30,262

Cash invested: $98,000 (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 →

ZIP-level market 92276

• Home prices YoY: -10.9%
• Active inventory: 101
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,833 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$272 /mo · $3,267/yr
• Insurance: −$146
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$595
• Net cashflow: $-138

Break-even live

Break-even rent $3,007

Max offer price $325,627

Occupancy floor 100%

Sensitivity live

Price	-10% $60	-5% $-39	+0% $-138	+5% $-237	+10% $-336
Rent	-10% $-362	-5% $-250	+0% $-138	+5% $-26	+10% $86
Rate	-1.0pp $38	-0.5pp $-49	base $-138	+0.5pp $-229	+1.0pp $-321

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31577 Via Pared Thousand Palms, CA	3.0	2.0	1300	$2,500	$1.92	20d	1	0.31mi
32420 Sonoma Cir Thousand Palms, CA	4.0	2.0	1368	$2,100	$1.54	45d	1	0.89mi
32373 Chiricahua Dr Thousand Palms, CA	3.0	2.0	1344	$2,500	$1.86	45d	1	0.96mi
162 Saint Thomas Pl Rancho Mirage, CA	3.0	2.5	2477	$6,000	$2.42	45d	1	1.41mi

Listing history 30 events

1. 2026-06-21
   days on market $350,000 Active 77 DOM
2. 2026-06-18
   days on market $350,000 Active 74 DOM
3. 2026-06-17
   days on market $350,000 Active 73 DOM
4. 2026-06-16
   days on market $350,000 Active 72 DOM
5. 2026-06-15
   days on market $350,000 Active 71 DOM
6. 2026-06-13
   days on market $350,000 Active 69 DOM
7. 2026-06-13
   days on market $350,000 Active 68 DOM
8. 2026-06-09
   days on market $350,000 Active 65 DOM
9. 2026-06-08
   days on market $350,000 Active 64 DOM
10. 2026-06-07
    days on market $350,000 Active 63 DOM
11. 2026-06-04
    days on market $350,000 Active 60 DOM
12. 2026-06-03
    days on market $350,000 Active 59 DOM
13. 2026-06-02
    days on market $350,000 Active 58 DOM
14. 2026-06-01
    days on market $350,000 Active 57 DOM
15. 2026-05-31
    days on market $350,000 Active 56 DOM
16. 2026-04-03
    listed $350,000 Active 764-char remark

    Show marketing remark (764 chars)

    ;; * * Prime Investment Opportunity - R2 Corner Lot with Expansion Potential! * * ; ; Attention investors and developers! This 4 bedroom 2 bath * * 1,812 sq ft main home * * features a fireplace and sits on a desirable * * R2-zoned corner lot * * , offering strong upside potential. Property is a fixer with fire damage to the garage wall and storage area--ready for a full renovation and value-add improvements. * * Major Income Potential: * * The original plans included a * * six-car garage * * , providing the perfect footprint to convert into a * * 2-bedroom, 1-bath additional unit (ADU) * * --ideal for maximizing rental income and boosting property value. Bring your vision and unlock the full potential of this high-opportunity property!

17. 2025-01-01
    historical
18. 2023-08-18
    listed $495,000 Active
19. 2022-04-20
    listed $410,000 Active
20. 2018-04-10
    status Pending
21. 2018-04-10
    soldstatus $91,200 Sold
22. 2018-04-10
    soldstatus $91,500
23. 2018-03-20
    historical Contingent
24. 2018-03-12
    status Active
25. 2018-03-02
    historical Contingent
26. 2018-02-26
    listed $89,000 Active
27. 2009-11-22
    historical
28. 2009-11-04
    status
29. 2009-11-02
    historical
30. 2009-10-31
    listed $42,500 Active

ⓘ 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: $3,267 · $272/mo
• Projected year-2 tax: $3,267 · $272/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 AO · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥113°F today · 19 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: $33,993
• − Mortgage interest: −$19,605
• − Property taxes: −$3,267
• − Insurance: −$3,218
• − Repairs & maintenance: −$2,719
• − Management: −$2,719
• − Depreciation: −$10,182
• Taxable loss: −$7,718
• Est. tax savings @ 24.0%: +$1,852
• After-tax cash flow: $197/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 — Thousand Palms

• Score: 53/100
• State rank: #950
• US rank: #24426

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thousand Palms, CA
• City population: 7,662
• Population (ZIP): 7,662

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: Majority Hispanic (64%)
• Race & ethnicity: Hispanic / Latino 64% Two or more races 43% White 32% Native American 4%
• Hispanic origin (detail): Mexican 62%
• Common ancestry: Slovak 2% Lithuanian 1% Portuguese 1%
• Foreign-born: 16% · Canada
• Languages at home: 54% English-only · Spanish 43% German/W. Germanic 1% Other Indo-European 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: ▼ -46.86%
• Current HPI: 382.4439
• Rent YoY: —
• Metro: —
• 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

+723.5% since first listed

15 events — show timeline

• 2026-04-03 Listed $350,000 GPSMLS
• 2025-01-01 Listing Removed — GPSMLS
• 2023-08-18 Listed $495,000 GPSMLS
• 2022-04-20 Listed $410,000 GPSMLS
• 2018-04-10 Pending — GPSMLS
• 2018-04-10 Sold (Public Records) $91,500 Public Records
• 2018-04-10 Sold (MLS) $91,200 GPSMLS
• 2018-03-20 Contingent — GPSMLS
• 2018-03-12 Relisted — GPSMLS
• 2018-03-02 Contingent — GPSMLS
• 2018-02-26 Listed $89,000 GPSMLS
• 2009-11-22 Listing Removed — GPSMLS
• 2009-11-04 Relisted — GPSMLS
• 2009-11-02 Listing Removed — GPSMLS
• 2009-10-31 Listed $42,500 GPSMLS

Property tax history

+4.4%/yr

Latest (2025): $3,267 · -16.6% YoY. Source: county tax records.