78200 Cortez Ln #149 · Indian Wells, CA 92210

$325,000

1 bd · 1.0 ba · 576 sqft · Condo public records · 41 Days on market

Built 1972 $564/sqft · 12% above area Est $291k · 12% over $265/mo HOA · 7% of rent

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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 +23.4/30.0
• DSCR +7.5/10.0
• 1% rule +7.0/10.0
• Appreciation +6.9/10.0
• Schools +3.8/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.3/15.0

Listing remarks

Location, Location, Location! Don't miss this chance to own this stunning upgraded Condo in the desirable gated community 'Mountain Cove' in Indian Wells. This spectacular lower-level unit features one-bedroom, one-bathroom, laundry room, cozy and charming living and kitchen space with panoramic mountain views and easy pool access just steps away. This condo offers a generous outdoor space, boasting a double patio perfect for admiring the mountain scenery, morning and night. Fully furnished! Owners of Indian Wells enjoy significant advantages (discounted golf, spa and shopping, along with access to great fitness facilities a short drive away) This community permits for Short Term Rentals, 7

Key facts

• Gated community
• Short term rentals
• Easy pool access

Tags

• GATED COMMUNITY
• PANORAMIC MOUNTAIN VIEWS
• EASY POOL ACCESS
• DOUBLE PATIO
• FULLY FURNISHED
• SHORT TERM RENTALS

Property features AI

Finance

• Other: Short term rentals allowed; Listing terms: Conventional or Cash; Possession at close of escrow; Disclosures: CC&R, Planned Development, Property sold as-is, Homeowners Association
• Financial info: Land is lease (land lease amount listed separately); Land lease amount: $1,980 (annual)
• HOA & community: Monthly association fee of $265; Association amenities include controlled access; Gated community

Exterior

• Parking: Unassigned parking
• Security: Controlled access; Gated community
• Utilities: Sewer connected and paid; PUD: Yes
• Home design: Condominium; Attached unit; 2-story building; Ground level entry; Mountain view
• Construction: Year built (from assessor)
• Exterior features: Gated community; Community pool (in-ground, fenced)

Interior

• Bedrooms: Other (room configuration not specified)
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air
• Interior features: Fully furnished; Tile flooring; Central heating; Central air

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $325k.

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 ($4k rent vs $325k).
• Recommended offer: $315k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 1.5% in Indian Wells — 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 53/100 on livability (#968 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, schools B+, crime B+; Watch: amenities F, commute F, cost of living 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: 150 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($2k loan paydown + $12k appreciation (3.8% local appreciation)).
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $91k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $315,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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?
7. 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.
8. 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.
9. 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: 1.20% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.95%
• DSCR: 1.35
• GRM: 6.9

CMA / ARV

• ARV (median comp): $291,275
• List price: $325,000
• Delta: 11.58%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

3.76% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.8%
• Equity multiple: 2.00×
• Total profit: $90,976
• Equity at exit: $160,216

10-year hold

• IRR: 17.8%
• Equity multiple: 3.80×
• Total profit: $254,536
• Equity at exit: $258,470

Cash invested: $91,000 (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 92210

• Home prices YoY: 1.3%
• Active inventory: 150
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $3,899 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$373 /mo · $4,471/yr
• Insurance: −$135
• HOA: −$265
• Vacancy / Maint / Mgmt: −$819
• Net cashflow: $603

Break-even live

Break-even rent $3,136

Max offer price $325,000

Occupancy floor 80%

Sensitivity live

Price	-10% $787	-5% $695	+0% $603	+5% $511	+10% $419
Rent	-10% $295	-5% $449	+0% $603	+5% $757	+10% $911
Rate	-1.0pp $766	-0.5pp $685	base $603	+0.5pp $518	+1.0pp $433

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
78200 Cortez Ln #149 Indian Wells, CA	1.0	1.0	576	$2,200	$3.82	45d	1	0.01mi
78155 Cabrillo Ln #37 Indian Wells, CA	1.0	1.0	576	$3,500	$6.08	45d	1	0.03mi
78130 Cortez Ln Indian Wells, CA	1.0–2.0	1.0–2.0	874	$2,600	$2.97	45d	2	0.05mi
78490 Via Palomino Unit 101 La Quinta, CA	1.0	1.0	560	$1,800	$3.21	45d	1	1.17mi

HOA detail condo

• Monthly dues: $265 · $3,180/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-21
   days on market $325,000 Active 41 DOM
2. 2026-06-18
   days on market $325,000 Active 38 DOM
3. 2026-06-17
   days on market $325,000 Active 37 DOM
4. 2026-06-16
   days on market $325,000 Active 36 DOM
5. 2026-06-15
   days on market $325,000 Active 35 DOM
6. 2026-06-13
   days on market $325,000 Active 33 DOM
7. 2026-06-09
   days on market $325,000 Active 29 DOM
8. 2026-06-08
   days on market $325,000 Active 28 DOM
9. 2026-06-07
   days on market $325,000 Active 27 DOM
10. 2026-06-04
    days on market $325,000 Active 24 DOM
11. 2026-06-03
    days on market $325,000 Active 23 DOM
12. 2026-06-02
    days on market $325,000 Active 22 DOM
13. 2026-06-01
    days on market $325,000 Active 21 DOM
14. 2026-05-31
    days on market $325,000 Active 20 DOM
15. 2026-04-10
    historical
16. 2025-10-09
    historical
17. 2025-10-09
    listed $325,000 Active
18. 2025-10-09
    listed $325,000 Active
19. 2025-05-31
    price $329,999
20. 2025-05-05
    price $339,999
21. 2025-04-11
    listed $349,900 Active
22. 2024-07-26
    listed $2,200
23. 2024-04-17
    soldstatus $290,000 Closed Sale
24. 2024-03-25
    status Pending Sale
25. 2024-02-26
    historical Active Under Contract
26. 2024-02-06
    listed $308,000 Active
27. 2023-04-14
    soldstatus $171,000
28. 1999-09-20
    soldstatus $1,914,000
29. 1995-09-15
    soldstatus $630,900

ⓘ 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: $4,471 · $373/mo
• Projected year-2 tax: $4,471 · $373/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 6 d/yr ≥114°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,785
• − Mortgage interest: −$18,205
• − Property taxes: −$4,471
• − Insurance: −$1,625
• − Repairs & maintenance: −$3,743
• − Management: −$3,743
• − HOA: −$3,180
• − Depreciation: −$9,455
• Taxable income: $2,364
• Est. tax owed @ 24.0%: −$567
• After-tax cash flow: $6,665/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 — Indian Wells

• Score: 53/100
• State rank: #968
• US rank: #24559

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indian Wells, CA
• County: Riverside County · 2,287,001 people
• City population: 4,871
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 4,871
• Household income: $162,990
• Rent vs Own: 20.2% rent · 79.8% own
• Severe rent burden: 56.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 5% Two or more races 5% Asian 3% Black 3%
• Common ancestry: Slovak 5% Lithuanian 4% Romanian 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 92% English-only · Spanish 3% Russian/Polish/Slavic 1% Tagalog/Filipino 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: ▲ 3.76%
• Current HPI: 299.2632
• Rent YoY: —
• 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

-99.7% since first listed

16 events — show timeline

• 2026-06-17 Rental Removed $2,200 REDFIN
• 2026-04-10 Listing Removed — GPSMLS
• 2025-10-09 Listing Removed — GPSMLS
• 2025-10-09 Listed $325,000 GPSMLS
• 2025-10-09 Listed $325,000 GPSMLS
• 2025-05-31 Price Changed $329,999 GPSMLS
• 2025-05-05 Price Changed $339,999 GPSMLS
• 2025-04-11 Listed $349,900 GPSMLS
• 2024-07-26 Listed for Rent $2,200 REDFIN
• 2024-04-17 Sold (MLS) $290,000 CRMLS
• 2024-03-25 Pending — CRMLS
• 2024-02-26 Contingent — CRMLS
• 2024-02-06 Listed $308,000 CRMLS
• 2023-04-14 Sold (Public Records) $171,000 Public Records
• 1999-09-20 Sold (Public Records) $1,914,000 Public Records
• 1995-09-15 Sold (Public Records) $630,900 Public Records

Property tax history

+8.0%/yr

Latest (2025): $4,471 · +150.5% YoY. Source: county tax records.