281 S Serena Dr · Palm Desert, CA 92260

$404,000

2 bd · 2.0 ba · 1,303 sqft · Condo public records · 71 Days on market

Built 1979 $310/sqft · 25% below area Est $536k · 25% under $800/mo HOA · 16% of rent ↓ 6% since listing

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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 +21.5/30.0
• ARV discount +15.0/15.0
• 1% rule +7.3/10.0
• DSCR +6.8/10.0
• Schools +3.8/10.0
• Rent growth +2.9/5.0
• Livability +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fabulous Panoramic Mountain Views! Beautifully furnished 2-bedroom, 2-bath condominium filled with light and style. Designer finishes and tasteful furnishings create a warm, elegant feel throughout. The open-concept kitchen, living, and dining areas feature clerestory windows that flood the home with natural light while showcasing spectacular west-facing views of the San Jacinto Mountains and the golf course. Located in the highly desirable Monterey Country Club, residents enjoy 27 holes of championship golf, 37 pools and spas, and numerous tennis and pickleball courts, fitness center, bocce ball courts, and a Clubhouse with fine dining set among beautifully maintained grounds. The condominium offers an opportunity for updating, making this a wonderful chance to add your own personal touches. Perfect as a vacation retreat or full-time home in sunny Palm Desert. Own your piece of Paradise today!

Key facts

• West-facing views
• Open-concept kitchen
• Natural light

Tags

• PANORAMIC MOUNTAIN VIEWS
• OPEN-CONCEPT KITCHEN
• NATURAL LIGHT
• WEST-FACING VIEWS
• MONTEREY COUNTRY CLUB
• 27 HOLES OF CHAMPIONSHIP GOLF

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $404k.

Deal economics

• At list price, monthly cash flow is $603 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $404k).
• Recommended offer: $380k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.5% in Palm Desert — 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 (#1,050 in CA) — a working-class tenant base; expect higher turnover. Strengths: schools A-, employment B+, housing B; Watch: crime D, amenities F, commute F.
• Desert Sands Unified (suburban): math 31% / reading 56% proficiency, ranked #199 of 517 in CA (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.6%/yr); 545 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); 78% 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 $4,975/mo this rent would consume 85% of the median local household income ($70k/yr) (locally 1734% 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 $12k 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 71 days — a 6% lower offer ($380k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $379,760 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. Crime grade is D 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. 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: 1.23% ✓
• Cap rate: 8.08%
• Cash-on-cash: 6.40%
• DSCR: 1.28
• GRM: 6.8

CMA / ARV

• ARV (median comp): $536,407
• List price: $404,000
• Delta: -24.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.6% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.70×
• Total profit: $-33,569
• Equity at exit: $60,238

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-5,713
• Equity at exit: $34,931

Cash invested: $113,120 (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 92260

• Rents YoY: 1.6%
• Active inventory: 545
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $4,975 high
• Mortgage (P&I): −$2,119
• Tax from tax record: −$240 /mo · $2,883/yr
• Insurance: −$168
• HOA: −$800
• Vacancy / Maint / Mgmt: −$1,045
• Net cashflow: $603

Break-even live

Break-even rent $4,212

Max offer price $404,000

Occupancy floor 83%

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: $101,000
• Closing costs: $12,120
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
291 Serena Dr Palm Desert, CA	2.0	1.5	1303	$5,300	$4.07	43d	1	0.06mi
293 Serena Dr Palm Desert, CA	2.0	2.0	1670	$5,500	$3.29	43d	1	0.07mi
261 Santa Barbara Cir Palm Desert, CA	2.0	2.0	1656	$5,800	$3.50	43d	1	0.10mi
278 San Vicente Cir Palm Desert, CA	2.0	2.0	1656	$5,200	$3.14	43d	1	0.12mi
294 San Vicente Cir Palm Desert, CA	2.0	2.0	1584	$5,300	$3.35	43d	1	0.13mi
242 Serena Dr Palm Desert, CA	2.0	2.0	1347	$5,300	$3.93	43d	1	0.14mi
254 Santa Barbara Cir Palm Desert, CA	2.0	2.0	1656	$8,000	$4.83	43d	1	0.14mi
246 Santa Barbara Cir Palm Desert, CA	2.0	2.0	1656	$9,000	$5.43	43d	1	0.16mi
235 Santa Barbara Cir Palm Desert, CA	3.0	3.0	1800	$7,500	$4.17	43d	1	0.18mi
281 Tolosa Cir Palm Desert, CA	2.0	2.0	1303	$5,500	$4.22	43d	1	0.18mi
240 Santa Barbara Cir Palm Desert, CA	2.0	2.0	1457	$6,000	$4.12	24d	1	0.18mi
223 Serena Dr Palm Desert, CA	3.0	2.0	1584	$4,800	$3.03	43d	1	0.20mi
223 Serena Dr Palm Desert, CA	3.0	2.0	1584	$4,800	$3.03	17d	1	0.20mi
221 Serena Dr Palm Desert, CA	2.0	2.0	1347	$5,500	$4.08	43d	1	0.21mi
280 Tolosa Cir Palm Desert, CA	2.0	2.0	1347	$6,000	$4.45	24d	1	0.21mi
280 Tolosa Cir Palm Desert, CA	2.0	2.0	1347	$6,000	$4.45	43d	1	0.21mi
110 Giralda Cir Palm Desert, CA	2.0	2.0	1584	$7,000	$4.42	43d	1	0.22mi
21 Don Quixote Dr Rancho Mirage, CA	2.0	2.0	1270	$4,000	$3.15	24d	1	0.23mi
320 Paseo Primavera Palm Desert, CA	2.0	2.0	1303	$3,000	$2.30	43d	1	0.23mi
114 Giralda Cir Palm Desert, CA	2.0	2.0	1303	$5,500	$4.22	43d	1	0.23mi
68 El Toro Dr Rancho Mirage, CA	2.0	2.0	1381	$4,000	$2.90	24d	1	0.25mi
207 Serena Dr Palm Desert, CA	2.0	2.0	1584	$5,900	$3.72	43d	1	0.25mi
203 Serena Dr Palm Desert, CA	2.0	2.0	1303	$3,000	$2.30	2d	1	0.26mi
389 Gran Via Palm Desert, CA	3.0	2.0	1670	$3,750	$2.25	24d	1	0.28mi
138 Gran Via Palm Desert, CA	2.0	2.0	1457	$5,500	$3.77	43d	1	0.28mi
186 Madrid Ave Palm Desert, CA	2.0	2.0	1800	$7,100	$3.94	43d	1	0.30mi
36 El Toro Dr Rancho Mirage, CA	2.0	2.0	1270	$4,000	$3.15	24d	1	0.30mi
347 Gran Via Palm Desert, CA	2.0	2.0	1303	$5,500	$4.22	43d	1	0.31mi
345 Gran Via Palm Desert, CA	2.0	2.0	1584	$5,500	$3.47	43d	1	0.32mi
16 Tortosa Dr Rancho Mirage, CA	3.0	2.0	1720	$7,495	$4.36	43d	1	0.32mi
101 Juan Cir Palm Desert, CA	2.0	2.0	1600	$6,500	$4.06	43d	1	0.32mi
191 Madrid Ave Palm Desert, CA	2.0	2.0	1800	$5,500	$3.06	43d	1	0.32mi
172 Gran Via Palm Desert, CA	2.0	1.5	1584	$7,000	$4.42	43d	1	0.32mi
197 Madrid Ave Palm Desert, CA	2.0	2.0	1336	$5,400	$4.04	43d	1	0.34mi
173 Gran Via Palm Desert, CA	2.0	2.0	1584	$5,000	$3.16	43d	1	0.36mi
117 Juan Cir Palm Desert, CA	2.0	2.0	1584	$6,800	$4.29	43d	1	0.36mi
186 Gran Via Palm Desert, CA	2.0	2.0	1303	$7,000	$5.37	43d	1	0.37mi
175 Gran Via Palm Desert, CA	2.0	2.0	1656	$2,599	$1.57	5d	1	0.37mi
314 Gran Via Ct Palm Desert, CA	2.0	1.5	1303	$4,700	$3.61	43d	1	0.39mi
128 Castellana W Palm Desert, CA	2.0	2.0	1670	$6,500	$3.89	43d	1	0.40mi

HOA detail condo

• Monthly dues: $800 · $9,600/yr
• Likely covers: landscapingpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $404,000 Active 71 DOM
2. 2026-06-17
   days on market $404,000 Active 70 DOM
3. 2026-06-16
   days on market $404,000 Active 69 DOM
4. 2026-06-15
   days on market $404,000 Active 68 DOM
5. 2026-06-13
   days on market $404,000 Active 66 DOM
6. 2026-06-09
   days on market $404,000 Active 62 DOM
7. 2026-06-08
   days on market $404,000 Active 61 DOM
8. 2026-06-07
   days on market $404,000 Active 60 DOM
9. 2026-06-04
   pricedays on market $404,000 Active 57 DOM
10. 2026-06-03
    days on market $424,000 Active 56 DOM
11. 2026-06-02
    days on market $424,000 Active 55 DOM
12. 2026-06-01
    days on market $424,000 Active 54 DOM
13. 2026-05-31
    days on market $424,000 Active 53 DOM
14. 2026-05-12
    price $424,000 909-char remark

    Show marketing remark (909 chars)

    Fabulous Panoramic Mountain Views! Beautifully furnished 2-bedroom, 2-bath condominium filled with light and style. Designer finishes and tasteful furnishings create a warm, elegant feel throughout. The open-concept kitchen, living, and dining areas feature clerestory windows that flood the home with natural light while showcasing spectacular west-facing views of the San Jacinto Mountains and the golf course. Located in the highly desirable Monterey Country Club, residents enjoy 27 holes of championship golf, 37 pools and spas, and numerous tennis and pickleball courts, fitness center, bocce ball courts, and a Clubhouse with fine dining set among beautifully maintained grounds. The condominium offers an opportunity for updating, making this a wonderful chance to add your own personal touches. Perfect as a vacation retreat or full-time home in sunny Palm Desert. Own your piece of Paradise today!

15. 2026-04-28
    price $439,000 909-char remark

    Show marketing remark (909 chars)

    Fabulous Panoramic Mountain Views! Beautifully furnished 2-bedroom, 2-bath condominium filled with light and style. Designer finishes and tasteful furnishings create a warm, elegant feel throughout. The open-concept kitchen, living, and dining areas feature clerestory windows that flood the home with natural light while showcasing spectacular west-facing views of the San Jacinto Mountains and the golf course. Located in the highly desirable Monterey Country Club, residents enjoy 27 holes of championship golf, 37 pools and spas, and numerous tennis and pickleball courts, fitness center, bocce ball courts, and a Clubhouse with fine dining set among beautifully maintained grounds. The condominium offers an opportunity for updating, making this a wonderful chance to add your own personal touches. Perfect as a vacation retreat or full-time home in sunny Palm Desert. Own your piece of Paradise today!

16. 2026-03-30
    listed $449,000 Active 909-char remark

    Show marketing remark (909 chars)

    Fabulous Panoramic Mountain Views! Beautifully furnished 2-bedroom, 2-bath condominium filled with light and style. Designer finishes and tasteful furnishings create a warm, elegant feel throughout. The open-concept kitchen, living, and dining areas feature clerestory windows that flood the home with natural light while showcasing spectacular west-facing views of the San Jacinto Mountains and the golf course. Located in the highly desirable Monterey Country Club, residents enjoy 27 holes of championship golf, 37 pools and spas, and numerous tennis and pickleball courts, fitness center, bocce ball courts, and a Clubhouse with fine dining set among beautifully maintained grounds. The condominium offers an opportunity for updating, making this a wonderful chance to add your own personal touches. Perfect as a vacation retreat or full-time home in sunny Palm Desert. Own your piece of Paradise today!

ⓘ 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: $2,883 · $240/mo
• Projected year-2 tax: $3,070 · $256/mo
• Expected delta: +$187/yr (+$16/mo · 6.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥114°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $59,699
• − Mortgage interest: −$22,630
• − Property taxes: −$2,883
• − Insurance: −$2,020
• − Repairs & maintenance: −$4,776
• − Management: −$4,776
• − HOA: −$9,600
• − Depreciation: −$11,753
• Taxable income: $1,261
• Est. tax owed @ 24.0%: −$303
• After-tax cash flow: $6,933/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: Desert Sands Unified
• NCES district ID: 0611110
• Math proficiency: 31% ▼ -4.00%
• Reading proficiency: 56% ▲ 7.00%
• Median HH income: $54,957
• Composite: 37.77/100
• National rank: #4346
• State rank: #199 of 517 in CA

Livability — Palm Desert

• Score: 51/100
• State rank: #1050
• US rank: #25164

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Desert, CA
• County: Riverside County · 2,287,001 people
• City population: 58,615
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 30,523
• Household income: $70,091
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 1734.0

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: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 31% Two or more races 20% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Italian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 18% · Canada, South Korea, Vietnam
• Languages at home: 73% English-only · Spanish 22% French/Haitian/Cajun 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: ▼ -364.94%
• Current HPI: 294.9425
• Rent YoY: ▲ 1.60%
• 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

-5.6% since first listed

3 events — show timeline

• 2026-05-12 Price Changed $424,000 TheMLS
• 2026-04-28 Price Changed $439,000 TheMLS
• 2026-03-30 Listed $449,000 TheMLS

Property tax history

+2.1%/yr

Latest (2025): $2,883 · +2.9% YoY. Source: county tax records.