31200 Landau Blvd #1402 · Cathedral City, CA 92234

$279,000

3 bd · 2.0 ba · 1,098 sqft · Condo public records · 1 Days on market

Built 1986 $520/mo HOA · 17% 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 +13.6/30.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• DSCR +4.1/10.0
• 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 MLS

This 3 BD, 2 BA upper unit condo makes for a fine Desert Primary Home or Winter Get-Away! These units are also great rental properties. This unit provides comfortable living now or an opportunity for future updating and improvements. Enter in to the great room with higher ceilings, and the open kitchen w/ adequate cabinet and counter space. Notice the stunning mountain views from the living room and all the bedrooms. The Master Suite has a spacious walk-in closet. You will enjoy stepping out to the patio area for morning coffee and enjoying all day sun exposure and dramatic sunsets via the patios southwest exposure. Cathedral Springs has 4 pools/spas, 2 lighted tennis courts with Pickleball and an updated fitness facility. Comm. is gated, with easy access to Shopping, Restaurants, PS Int'l Airport & easy freeway access on both Gene Autry & Date Palm Drive making it only 2 hrs. from LA, SD, beaches and mountain resorts.

Key facts

• Gated community
• Fitness center
• Private balcony

Tags

• MOUNTAIN VIEWS
• PRIVATE BALCONY
• WALK-IN CLOSET
• GATED COMMUNITY
• FITNESS CENTER
• MULTIPLE POOLS

Property features AI

Finance

• Other: Property sold as-is; CC&R disclosures apply; View of mountains
• Financial info: Sale terms: Cash to new loan; Possession at close of escrow; Short-term rentals not allowed; Will not consider lease
• HOA & community: Monthly association fee: $520; Association amenities include tennis courts; Complex has 248 units; Gated community

Exterior

• Parking: Assigned parking; 1 covered space; 1 garage space; 1 carport space; 1 additional uncovered/assigned space; Total of 4 parking spaces
• Security: Gated community with automatic gate
• Utilities: Sewer: Unknown; Not a PUD
• Home design: Condominium, attached; Two-story building; Unit entry on second floor; Faces south; Property condition: fixer — cosmetic repairs needed
• Construction: Stucco exterior; Year built per assessor
• Exterior features: Balcony; Sprinkler system; Community pool (in-ground, fenced) with spa/hot tub; Pool has safety fence

Interior

• Kitchen: Tile counters; Gas range; Range hood; Dishwasher; Refrigerator
• Bedrooms: Entry level: Top level
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Electric air conditioning
• Interior features: Unfurnished; Entry from the living room; No fireplace
• Laundry & utility: Washer and dryer in closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $279k.

Deal economics

• At list price, monthly cash flow is $15 ($183/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $279k).
• Cap rate 6.4% vs local median 5.1% in Cathedral City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% 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).
• At $2,974/mo this rent would consume 49% of the median local household income ($74k/yr) (locally 1682% 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 $8k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $184k; list at $279k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $279,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.07% ✓
• Cap rate: 6.36%
• Cash-on-cash: 0.23%
• DSCR: 1.01
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.22% rent growth · sell at horizon

5-year hold

• IRR: -15.5%
• Equity multiple: 0.45×
• Total profit: $-43,284
• Equity at exit: $41,600

10-year hold

• IRR: -6.4%
• Equity multiple: 0.58×
• Total profit: $-32,524
• Equity at exit: $24,123

Cash invested: $78,120 (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: 7.8×

Monthly cashflow live

• Estimated rent: $2,974 high
• Mortgage (P&I): −$1,463
• Tax from tax record: −$235 /mo · $2,817/yr
• Insurance: −$116
• HOA: −$520
• Vacancy / Maint / Mgmt: −$625
• Net cashflow: $15

Break-even live

Break-even rent $2,955

Max offer price $279,000

Occupancy floor 94%

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31200 Landau Blvd Cathedral City, CA	2.0–3.0	2.0	1016	$2,800	$2.76	43d	3	0.07mi
31200 Landau Blvd Cathedral City, CA	2.0–3.0	2.0	1016	$2,600	$2.56	12d	4	0.07mi
68145 Alcita Rd Cathedral City, CA	3.0	2.0	1347	$2,600	$1.93	4d	1	0.21mi
68185 Alcita Rd Cathedral City, CA	2.0	2.0	975	$1,895	$1.94	1d	1	0.22mi
31121 Avenida El Mundo Cathedral City, CA	3.0	2.0	1302	$3,000	$2.30	43d	1	0.28mi
68160 Modalo Rd Unit 68162 Cathedral City, CA	3.0	2.0	1000	$2,499	$2.50	14d	1	0.49mi
9 Lakeview Cir Cathedral City, CA	2.0	1.5	1152	$1,950	$1.69	43d	1	0.79mi
68080 Risueno Rd Cathedral City, CA	2.0	1.0	800	$2,200	$2.75	14d	1	0.79mi
32150 Aurora Vista Rd Unit C Cathedral City, CA	2.0	1.0	1100	$2,395	$2.18	43d	1	0.79mi
32150 Aurora Vista Rd Cathedral City, CA	2.0	1.0	1100	$2,195	$2.00	43d	1	0.79mi
35 Lakeview Cir Cathedral City, CA	2.0	1.5	1152	$2,200	$1.91	43d	1	0.81mi
1 Lakeview Cir Cathedral City, CA	2.0	2.0	1000	$2,300	$2.30	43d	1	0.81mi
30125 Avenida Juarez Unit 30127 Cathedral City, CA	3.0	2.0	1000	$2,499	$2.50	14d	1	0.84mi
29704 W Trancas Dr Cathedral City, CA	2.0	2.5	1425	$6,000	$4.21	43d	1	0.86mi
33030 Shifting Sands Trl Apt 4 Cathedral City, CA	2.0	1.0	821	$1,599	$1.95	24d	1	0.87mi
32585 Cielo Vista Rd Cathedral City, CA	2.0	2.0	840	$2,000	$2.38	24d	1	0.99mi
32425 Rancho Vista Dr Unit A Cathedral City, CA	2.0	1.0	754	$1,950	$2.59	7d	1	0.99mi
67727 S Natoma Dr Cathedral City, CA	2.0	3.0	1425	$4,500	$3.16	43d	1	0.99mi
Lawrence Crossley Rd Unit 62 Palm Springs, CA	2.0	2.0	885	$2,100	$2.37	43d	1	1.04mi
33387 Shifting Sands Trl Unit 2 Cathedral City, CA	2.0	2.0	1300	$1,999	$1.54	24d	1	1.05mi
30201 San Diego Dr Cathedral City, CA	3.0	2.0	1060	$2,700	$2.55	43d	1	1.05mi
68705 Tortuga Rd Cathedral City, CA	3.0	2.0	1248	$3,600	$2.88	43d	1	1.13mi
69275 Kemper Ct Cathedral City, CA	3.0	2.0	1386	$3,850	$2.78	43d	1	1.14mi
29199 E Portales Dr Unit 702 Cathedral City, CA	2.0	2.0	1177	$4,200	$3.57	43d	1	1.15mi
33495 Cathedral Canyon Dr Unit B Cathedral City, CA	2.0	1.0	1100	$2,100	$1.91	43d	1	1.16mi
33495 Cathedral Canyon Dr Cathedral City, CA	2.0	1.0	1100	$2,200	$2.00	43d	1	1.16mi
29118 Desert Princess Dr Unit 702 Cathedral City, CA	2.0	2.0	1212	$4,200	$3.47	43d	1	1.17mi
67665 Lagos Way Cathedral City, CA	3.0	2.0	1285	$4,500	$3.50	43d	1	1.18mi
67595 Lagos Way Cathedral City, CA	3.0	3.0	1285	$3,500	$2.72	43d	1	1.19mi
29017 W Natoma Dr Cathedral City, CA	2.0	2.0	1177	$2,395	$2.03	43d	1	1.23mi
28964 Desert Princess Dr Cathedral City, CA	2.0	2.0	1177	$2,700	$2.29	43d	1	1.24mi
28859 Desert Princess Dr Cathedral City, CA	3.0	2.0	1285	$3,700	$2.88	43d	1	1.24mi
28868 Isleta Ct Unit 702 Cathedral City, CA	2.0	2.0	1285	$4,900	$3.81	24d	1	1.25mi
28868 Isleta Ct Cathedral City, CA	2.0	2.0	1285	$4,900	$3.81	43d	1	1.25mi
28920 W Natoma Dr Cathedral City, CA	2.0	2.0	1177	$4,000	$3.40	43d	1	1.26mi
28914 Desert Princess Dr Unit 702 Palm Springs, CA	2.0	2.0	1212	$4,200	$3.47	24d	1	1.27mi
6071 Hazeltine Plz Palm Springs, CA	2.0	2.0	1168	$3,200	$2.74	43d	1	1.27mi
29170 W Laguna Dr Cathedral City, CA	2.0	3.0	1425	$6,000	$4.21	43d	1	1.28mi
28827 Isleta Ct Cathedral City, CA	3.0	2.0	1285	$4,500	$3.50	43d	1	1.29mi
68640 Tachevah Dr Cathedral City, CA	3.0	2.0	1290	$3,200	$2.48	12d	1	1.30mi

HOA detail condo

• Monthly dues: $520 · $6,240/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $279,000 Active 1 DOM

ⓘ 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: $2,817 · $235/mo
• Projected year-2 tax: $2,817 · $235/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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥113°F today · 19 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: $35,686
• − Mortgage interest: −$15,628
• − Property taxes: −$2,817
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,855
• − Management: −$2,855
• − HOA: −$6,240
• − Depreciation: −$8,116
• Taxable loss: −$4,220
• Est. tax savings @ 24.0%: +$1,013
• After-tax cash flow: $1,196/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

+47.6% since first listed

6 events — show timeline

• 2026-06-17 Listed $279,000 GPSMLS
• 2021-02-24 Pending — GPSMLS
• 2021-02-23 Sold (Public Records) $184,000 Public Records
• 2021-02-23 Sold (MLS) $184,000 GPSMLS
• 2021-01-25 Contingent — GPSMLS
• 2021-01-18 Listed $189,000 GPSMLS

Property tax history

+3.9%/yr

Latest (2025): $2,817 · -0.4% YoY. Source: county tax records.