2424 E Palm Cyn Unit 2D · Palm Springs, CA 92264

$450,000

2 bd · 2.0 ba · 1,850 sqft · Condo public records · 36 Days on market

Built 1972 $1050/mo HOA · 21% 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).

• Cash flow +10.5/30.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Livability +3.3/5.0
• DSCR +3.0/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to easy living at The Diplomat, a highly desirable mid-rise building in the heart of South Palm Springs. Step through the double doors into a sophisticated residence where floor-to-ceiling windows in every room flood the interior with natural light and frame breathtaking, panoramic views of the mountains and swaying palms. This move-in-ready, beautifully renovated home is designed for both relaxation and grand entertaining. The spacious living and dining area features upgraded lighting for a warm evening ambiance and a mirrored wet bar, perfect for hosting guests. For the culinary enthusiast, the elongated galley kitchen is a chef’s dream, boasting two French-door stainless-st

Key facts

• Mirrored wet bar
• Panoramic views
• $1,050 HOA

Tags

• FLOOR TO CEILING WINDOWS
• PANORAMIC VIEWS
• MIRRORED WET BAR
• ELONGATED GALLEY KITCHEN
• TWO FRENCH DOOR REFRIGERATORS
• ABUNDANCE OF CLOSET SPACE

Property features AI

Finance

• Other: Community name: Diplomat (48 units)
• Financial info: Land lease: $6,000 (land lease renewal date: January 1, 2089)
• HOA & community: Part of an association; Monthly association fee: $1,050; Association covers insurance, water, sewer, pool, trash, and grounds maintenance; Association spa/jacuzzi available

Exterior

• Parking: Assigned parking (subterranean); 1 uncovered space
• Utilities: Public sewer; District/Public water
• Home design: Condominium in a multi-family building; Attached property; 3 total stories in the building; Has a view
• Construction: 48-unit community; 1 common wall
• Exterior features: Community pool (association); Sidewalks

Interior

• Kitchen: Tile counters; Microwave; Refrigerator; Electric range; Dishwasher; Water heater unit
• Bedrooms: 2 bedrooms on the main level; Primary bedroom
• Flooring: Tile flooring; Laminate flooring
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating (furnace); Central cooling
• Interior features: Double door entry; Wet bar; Balcony; Ceiling fan(s); Recessed lighting; Open floor plan; Window blinds; One level (first floor entry)
• Laundry & utility: Washer hookup; Gas dryer hookup; In-closet laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $450k.

Deal economics

• At list price, monthly cash flow is $-234 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $409k (9.2% below list).
• Meets the 1% rule at list price ($5k rent vs $450k).
• Recommended offer: $409k (9.2% below list) — sets the bar for cash-flow.
• Cap rate 5.7% 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: schools C-, crime 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 soft (-0.4%/yr); 492 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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 $4,906/mo this rent would consume 76% of the median local household income ($78k/yr) (locally 1215% 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 $3k of loan paydown is wiped out by about $14k 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 36 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 25y 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.

Risks & watch-outs

• Watch-outs: HOA is 21% 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 $408,700 (9.2% 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 36 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
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: 1.09% ✓
• Cap rate: 5.67%
• Cash-on-cash: -2.23%
• DSCR: 0.90
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -24.4%
• Equity multiple: 0.19×
• Total profit: $-101,498
• Equity at exit: $67,096

10-year hold

• IRR: -39.0%
• Equity multiple: -0.27×
• Total profit: $-160,323
• Equity at exit: $38,908

Cash invested: $126,000 (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 92264

• Rents YoY: -0.4%
• Active inventory: 492
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $4,906 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$512 /mo · $6,146/yr
• Insurance: −$188
• HOA: −$1,050
• Vacancy / Maint / Mgmt: −$1,030
• Net cashflow: $-234

Break-even live

Break-even rent $5,202

Max offer price $408,700

Occupancy floor 100%

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1816 Pintura Cir W Palm Springs, CA	2.0	3.0	1650	$3,145	$1.91	43d	1	0.23mi
2716 Anza Trl Palm Springs, CA	3.0	2.0	1508	$4,950	$3.28	43d	1	0.45mi
3113 E San Martin Cir Palm Springs, CA	3.0	2.0	1737	$3,950	$2.27	43d	1	0.46mi
2918 E Alta Loma Dr Palm Springs, CA	3.0	3.0	2200	$3,695	$1.68	43d	1	0.48mi
1710 E Sonora Rd Palm Springs, CA	2.0	2.0	1391	$2,800	$2.01	24d	1	0.50mi
3180 E Escoba Dr Palm Springs, CA	3.0	2.0	1532	$3,700	$2.42	24d	1	0.51mi
1331 S Sunrise Way Palm Springs, CA	3.0	3.0	2160	$7,000	$3.24	43d	1	0.56mi
1592 S Calle Rolph Palm Springs, CA	2.0	3.0	2612	$6,000	$2.30	43d	1	0.57mi
1595 S Calle Rolph Palm Springs, CA	3.0	3.5	2509	$8,500	$3.39	43d	1	0.60mi
1486 E Palm Tree Dr Palm Springs, CA	2.0	2.0	1300	$3,000	$2.31	43d	1	0.65mi
3545 Ridgeview Cir Palm Springs, CA	3.0	3.0	1783	$5,675	$3.18	43d	1	0.65mi
3545 Ridgeview Cir Palm Springs, CA	3.0	2.5	1783	$9,750	$5.47	24d	1	0.65mi
3545 Ridgeview Cir Palm Springs, CA	3.0	2.5	1783	$9,750	$5.47	3d	1	0.65mi
477 Desert Lakes Dr Palm Springs, CA	2.0	3.0	2174	$9,500	$4.37	43d	1	0.68mi
449 Desert Lakes Dr Palm Springs, CA	2.0	2.0	1778	$3,000	$1.69	24d	1	0.70mi
447 Desert Lakes Dr Palm Springs, CA	3.0	3.0	2452	$9,500	$3.87	43d	1	0.71mi
2120 Southridge Dr Palm Springs, CA	2.0	2.0	1600	$3,000	$1.88	44d	1	0.81mi
1150 E Palm Canyon Dr #60 Palm Springs, CA	2.0	2.0	1240	$2,595	$2.09	24d	1	0.83mi
157 Desert Lakes Dr Palm Springs, CA	3.0	2.0	2165	$9,500	$4.39	43d	1	0.87mi
2240 Sunshine Way Palm Springs, CA	3.0	2.0	1350	$2,250	$1.67	24d	1	0.89mi
177 Westlake Dr Palm Springs, CA	2.0	2.0	1545	$12,500	$8.09	43d	1	0.93mi
555 S Sunrise Way Palm Springs, CA	3.0	4.0	2274	$8,000	$3.52	24d	1	0.98mi
1533 E Canyon Estates Dr Palm Springs, CA	2.0	2.5	2593	$2,500	$0.96	43d	1	1.01mi
1041 S La Verne Way Palm Springs, CA	2.0	2.0	1325	$2,800	$2.11	24d	1	1.02mi
622 S Highland Dr Palm Springs, CA	3.0	3.0	1523	$6,000	$3.94	43d	1	1.03mi
965 E Twin Palms Dr Palm Springs, CA	3.0	2.0	1600	$15,000	$9.38	43d	1	1.04mi
215 Desert Lakes Dr Palm Springs, CA	2.0	2.0	2028	$4,250	$2.10	43d	1	1.05mi
1970 S Joshua Tree Pl Palm Springs, CA	3.0	2.0	1957	$8,175	$4.18	43d	1	1.07mi
1970 S Joshua Tree Pl Palm Springs, CA	3.0	2.0	1957	$8,175	$4.18	15d	1	1.07mi
1111 E Ramon Rd #87 Palm Springs, CA	3.0	2.0	1313	$4,500	$3.43	17d	1	1.10mi
1947 S Joshua Tree Pl Palm Springs, CA	3.0	2.5	1928	$6,000	$3.11	24d	1	1.11mi
540 Highland Dr Apt 5 Palm Springs, CA	2.0	2.0	1985	$2,495	$1.26	24d	1	1.12mi
3730 E Camino San Miguel Palm Springs, CA	2.0	2.0	1711	$3,500	$2.05	43d	1	1.12mi
791 E Twin Palms Dr Palm Springs, CA	3.0	2.0	1793	$9,700	$5.41	43d	1	1.14mi
780 E Palm Canyon Dr #202 Palm Springs, CA	2.0	2.0	1305	$2,950	$2.26	24d	1	1.15mi
16 Lakeview Cir Palm Springs, CA	2.0	2.0	1965	$8,000	$4.07	43d	1	1.19mi
24 Desert Lakes Dr Palm Springs, CA	2.0	2.0	1545	$9,500	$6.15	43d	1	1.19mi
500 Paseo Soleado Unit 485 Palm Springs, CA	2.0	2.5	1712	$2,800	$1.64	43d	1	1.24mi
500 Paseo Soleado Unit 497 Palm Springs, CA	3.0	2.5	1812	$3,000	$1.66	43d	1	1.24mi
70 Lakeview Dr Palm Springs, CA	2.0	2.0	1545	$9,000	$5.83	22d	1	1.24mi

HOA detail condo

• Monthly dues: $1,050 · $12,600/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $450,000 Active 36 DOM
2. 2026-06-17
   days on market $450,000 Active 35 DOM
3. 2026-06-16
   days on market $450,000 Active 34 DOM
4. 2026-06-15
   days on market $450,000 Active 33 DOM
5. 2026-06-13
   days on market $450,000 Active 31 DOM
6. 2026-06-13
   days on market $450,000 Active 30 DOM
7. 2026-06-09
   days on market $450,000 Active 27 DOM
8. 2026-06-08
   days on market $450,000 Active 26 DOM
9. 2026-06-07
   days on market $450,000 Active 25 DOM
10. 2026-06-04
    days on market $450,000 Active 22 DOM
11. 2026-06-03
    days on market $450,000 Active 21 DOM
12. 2026-06-02
    days on market $450,000 Active 20 DOM
13. 2026-06-01
    days on market $450,000 Active 19 DOM
14. 2026-05-31
    days on market $450,000 Active 18 DOM
15. 2026-05-13
    listed $450,000 Active 1825-char remark
16. 2026-04-30
    historical
17. 2026-03-26
    price $450,000
18. 2026-03-02
    price $479,000
19. 2025-11-12
    listed $490,000 Active
20. 2025-11-09
    historical
21. 2025-09-05
    price $505,000
22. 2025-07-02
    price $535,000
23. 2025-06-11
    price $550,000
24. 2025-05-09
    listed $560,000 Active
25. 2025-05-05
    historical
26. 2025-03-11
    price $560,000
27. 2025-01-06
    listed $585,000 Active
28. 2025-01-01
    historical
29. 2024-10-07
    listed $585,000 Active
30. 2024-08-16
    historical
31. 2024-05-24
    listed $649,000 Active
32. 2024-05-23
    historical
33. 2024-05-21
    historical
34. 2024-02-17
    price $649,000
35. 2024-02-17
    listed $459,000 Active
36. 2023-05-30
    soldstatus $485,000 Closed
37. 2023-05-30
    soldstatus $485,000
38. 2023-04-05
    status Pending
39. 2023-03-07
    listed $499,000 Active
40. 2019-07-11
    soldstatus $310,000 Sold
41. 2019-06-25
    status Pending
42. 2019-06-01
    historical
43. 2019-04-29
    historical Backup Offers Accepted
44. 2018-11-19
    listed $329,500 Active
45. 2018-11-19
    listed $329,500
46. 2016-10-11
    soldstatus $300,000 Sold
47. 2016-10-11
    soldstatus $300,000
48. 2016-10-03
    status Pending
49. 2016-08-29
    historical Contingent
50. 2016-05-07
    listed $315,000 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: $6,146 · $512/mo
• Projected year-2 tax: $6,146 · $512/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 ≥110°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: $58,871
• − Mortgage interest: −$25,207
• − Property taxes: −$6,146
• − Insurance: −$2,250
• − Repairs & maintenance: −$4,710
• − Management: −$4,710
• − HOA: −$12,600
• − Depreciation: −$13,091
• Taxable loss: −$9,842
• Est. tax savings @ 24.0%: +$2,362
• After-tax cash flow: $-443/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): 19,899
• Household income: $77,688
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1215.0

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 20% Two or more races 12% Asian 6% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Lithuanian 4% Romanian 3% Slovak 3%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 81% English-only · Spanish 13% Tagalog/Filipino 2% 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: ▼ -489.04%
• Current HPI: 357.0969
• Rent YoY: ▼ -0.43%
• 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

+500.0% since first listed

42 events — show timeline

• 2026-05-13 Listed $450,000 CRMLS
• 2026-04-30 Listing Removed — CRMLS
• 2026-03-26 Price Changed $450,000 CRMLS
• 2026-03-02 Price Changed $479,000 CRMLS
• 2025-11-12 Listed $490,000 CRMLS
• 2025-11-09 Listing Removed — CRMLS
• 2025-09-05 Price Changed $505,000 CRMLS
• 2025-07-02 Price Changed $535,000 CRMLS
• 2025-06-11 Price Changed $550,000 CRMLS
• 2025-05-09 Listed $560,000 CRMLS
• 2025-05-05 Listing Removed — CRMLS
• 2025-03-11 Price Changed $560,000 CRMLS
• 2025-01-06 Listed $585,000 CRMLS
• 2025-01-01 Listing Removed — GPSMLS
• 2024-10-07 Listed $585,000 GPSMLS
• 2024-08-16 Listing Removed — GPSMLS
• 2024-05-24 Listed $649,000 GPSMLS
• 2024-05-23 Coming Soon — GPSMLS
• 2024-05-21 Listing Removed — GPSMLS
• 2024-02-17 Price Changed $649,000 GPSMLS
• 2024-02-17 Listed $459,000 GPSMLS
• 2023-05-30 Sold (Public Records) $485,000 Public Records
• 2023-05-30 Sold (MLS) $485,000 GPSMLS
• 2023-04-05 Pending — GPSMLS
• 2023-03-07 Listed $499,000 GPSMLS
• 2019-07-11 Sold (MLS) $310,000 GPSMLS
• 2019-06-25 Pending — GPSMLS
• 2019-06-01 Listing Removed — SDMLS
• 2019-04-29 Contingent — GPSMLS
• 2018-11-19 Listed $329,500 SDMLS
• 2018-11-19 Listed $329,500 GPSMLS
• 2016-10-11 Sold (Public Records) $300,000 Public Records
• 2016-10-11 Sold (MLS) $300,000 GPSMLS
• 2016-10-03 Pending — GPSMLS
• 2016-08-29 Contingent — GPSMLS
• 2016-05-07 Listed $315,000 GPSMLS
• 2001-04-03 Sold (Public Records) $200,000 Public Records
• 2001-04-03 Sold (MLS) $200,000 PALM
• 2001-02-15 Delisted — PALM
• 2001-01-17 Listed $219,000 PALM
• 2000-10-13 Sold (Public Records) $146,000 Public Records
• 1998-04-09 Sold (Public Records) $75,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $6,146 · -2.5% YoY. Source: county tax records.