28 Oak Tree · Rancho Mirage, CA 92270

$490,000

2 bd · 2.0 ba · 1,332 sqft · Condo public records · 67 Days on market

Built 1987 $368/sqft · 15% below area Est $580k · 15% under $900/mo HOA · 20% of rent

---

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 +14.5/15.0
• Cash flow +8.7/30.0
• 1% rule +4.3/10.0
• Rent growth +3.4/5.0
• Schools +2.7/10.0
• Livability +2.6/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully upgraded single-story condo perfectly positioned on the Mission Hills East golf course with breathtaking fairway and mountain views. This stunning 2 bedroom, 2 bath, 1,332 sq ft home has been thoughtfully updated throughout, featuring elegant tile flooring, fully remodeled bathrooms, and a bright open-concept kitchen with a newly opened wall that flows seamlessly into the living room, perfect for entertaining. Classic white shutters, mirrored closet doors, and an attached double garage round out this turnkey desert retreat. Oriented east on the fairway, you'll wake up to sweeping mountain views every morning. Mission Hills Country Club is one of the desert's premier guard-gated communities, offering an unmatched lifestyle with 3 private golf courses, 27 tennis courts, croquet courts, and a world-class fitness center. Golf, tennis, and social memberships are available. Conveniently located in the heart of beautiful Rancho Mirage.

Key facts

• $900 HOA
• 2 garage spots
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $490k.

Deal economics

• At list price, monthly cash flow is $-412 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $417k (14.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $457k (6.7% below list).
• Recommended offer: $417k (14.8% below list) — sets the bar for cash-flow.
• Cap rate 5.3% vs local median 3.0% in Rancho Mirage — 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 (#1,065 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+; Watch: amenities F, commute 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 rising (+3.7%/yr); 529 active listings in the ZIP; 23 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; solid renter incomes; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• At $4,572/mo this rent would consume 51% of the median local household income ($107k/yr) (locally 498% 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 $15k 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 67 days — a 6% lower offer ($461k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 28y 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 $259k; list at $490k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 5→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $417,261 (14.8% 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 67 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
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. 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?
8. 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.
9. 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.
10. 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: 0.93% ✗
• Cap rate: 5.28%
• Cash-on-cash: -3.60%
• DSCR: 0.84
• GRM: 8.9

CMA / ARV

• ARV (median comp): $579,598
• List price: $490,000
• Delta: -15.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.72% rent growth · sell at horizon

5-year hold

• IRR: -21.2%
• Equity multiple: 0.26×
• Total profit: $-101,830
• Equity at exit: $73,061

10-year hold

• IRR: -12.7%
• Equity multiple: 0.22×
• Total profit: $-106,680
• Equity at exit: $42,366

Cash invested: $137,200 (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 92270

• Rents YoY: 3.7%
• Active inventory: 529
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $4,572 high
• Mortgage (P&I): −$2,570
• Tax from tax record: −$350 /mo · $4,197/yr
• Insurance: −$204
• HOA: −$900
• Vacancy / Maint / Mgmt: −$960
• Net cashflow: $-412

Break-even live

Break-even rent $5,093

Max offer price $417,261

Occupancy floor —

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: $122,500
• Closing costs: $14,700
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
91 Augusta Dr Rancho Mirage, CA	2.0	2.0	1620	$5,290	$3.27	44d	1	0.21mi
51 Pebble Beach Dr Rancho Mirage, CA	3.0	2.0	1806	$6,000	$3.32	44d	1	0.25mi
38 Pine Valley Dr Rancho Mirage, CA	2.0	2.0	1620	$6,500	$4.01	44d	1	0.28mi
54 Pine Valley Dr Rancho Mirage, CA	3.0	2.0	1620	$5,000	$3.09	44d	1	0.36mi
12 Buckingham Way Unit CASITA Rancho Mirage, CA	1.0	1.0	1000	$1,700	$1.70	24d	1	0.40mi
69 Cabernet Rancho Mirage, CA	2.0	2.0	1438	$3,200	$2.23	44d	1	0.41mi
26 Carmenere Rancho Mirage, CA	2.0	2.0	1438	$6,000	$4.17	44d	1	0.68mi
436 Sunningdale Dr Rancho Mirage, CA	2.0	2.0	1535	$4,000	$2.61	44d	1	0.93mi
468 Sunningdale Dr Rancho Mirage, CA	1.0	2.0	1049	$2,800	$2.67	24d	1	0.95mi
82 Burgundy Rancho Mirage, CA	2.0	2.0	1438	$4,250	$2.96	18d	1	0.96mi
426 Forest Hills Dr Rancho Mirage, CA	2.0	2.0	1535	$3,600	$2.35	24d	1	0.97mi
462 Sunningdale Dr Rancho Mirage, CA	2.0	2.0	1547	$3,750	$2.42	44d	1	0.97mi
422 Forest Hills Dr Rancho Mirage, CA	1.0	1.5	1049	$3,500	$3.34	44d	1	0.98mi
464 Sunningdale Dr Rancho Mirage, CA	3.0	3.0	1751	$6,000	$3.43	44d	1	0.98mi
415 Forest Hills Dr Rancho Mirage, CA	2.0	2.0	1535	$3,300	$2.15	44d	1	1.03mi
34 Magnum Rancho Mirage, CA	2.0	2.0	1770	$3,800	$2.15	44d	1	1.10mi
343 Forest Hills Dr Rancho Mirage, CA	2.0	2.0	1535	$4,500	$2.93	18d	1	1.11mi
343 Forest Hills Dr Rancho Mirage, CA	2.0	2.0	1535	$4,500	$2.93	44d	1	1.11mi
46 Vintage Rancho Mirage, CA	2.0	2.0	1657	$2,995	$1.81	44d	1	1.22mi
118 Racquet Club Dr Rancho Mirage, CA	2.0	2.0	1488	$2,900	$1.95	44d	1	1.24mi
310 Forest Hills Dr Rancho Mirage, CA	1.0	1.5	1049	$2,200	$2.10	44d	1	1.26mi
107 Racquet Club Dr Rancho Mirage, CA	2.0	2.0	1488	$4,500	$3.02	44d	1	1.30mi
73274 Azure Rain #104 Palm Desert, CA	2.0	2.0	1205	$2,399	$1.99	44d	1	1.46mi

HOA detail condo

• Monthly dues: $900 · $10,800/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 43 events

1. 2026-06-18
   days on market $490,000 Active 67 DOM
2. 2026-06-17
   days on market $490,000 Active 66 DOM
3. 2026-06-16
   days on market $490,000 Active 65 DOM
4. 2026-06-15
   days on market $490,000 Active 64 DOM
5. 2026-06-13
   days on market $490,000 Active 62 DOM
6. 2026-06-13
   days on market $490,000 Active 61 DOM
7. 2026-06-09
   days on market $490,000 Active 58 DOM
8. 2026-06-08
   days on market $490,000 Active 57 DOM
9. 2026-06-07
   days on market $490,000 Active 56 DOM
10. 2026-06-04
    pricedays on market $490,000 Active 53 DOM
11. 2026-06-03
    days on market $500,000 Active 52 DOM
12. 2026-06-02
    days on market $500,000 Active 51 DOM
13. 2026-06-01
    days on market $500,000 Active 50 DOM
14. 2026-05-31
    days on market $500,000 Active 49 DOM
15. 2026-04-12
    listed $500,000 Active 964-char remark

    Show marketing remark (964 chars)

    Beautifully upgraded single-story condo perfectly positioned on the Mission Hills East golf course with breathtaking fairway and mountain views. This stunning 2 bedroom, 2 bath, 1,332 sq ft home has been thoughtfully updated throughout, featuring elegant tile flooring, fully remodeled bathrooms, and a bright open-concept kitchen with a newly opened wall that flows seamlessly into the living room, perfect for entertaining. Classic white shutters, mirrored closet doors, and an attached double garage round out this turnkey desert retreat. Oriented east on the fairway, you'll wake up to sweeping mountain views every morning. Mission Hills Country Club is one of the desert's premier guard-gated communities, offering an unmatched lifestyle with 3 private golf courses, 27 tennis courts, croquet courts, and a world-class fitness center. Golf, tennis, and social memberships are available. Conveniently located in the heart of beautiful Rancho Mirage.

16. 2019-09-18
    historical
17. 2017-05-09
    status Pending
18. 2017-05-08
    soldstatus $259,000 Sold
19. 2017-05-08
    soldstatus $259,000
20. 2017-04-09
    historical Contingent
21. 2017-03-27
    price $275,000
22. 2017-03-27
    price $275,900
23. 2017-02-15
    listed $289,900 Active
24. 2004-05-05
    soldstatus $299,500
25. 2004-04-05
    historical
26. 2004-04-04
    listed $299,500
27. 2003-08-29
    soldstatus $238,000
28. 2003-08-29
    soldstatus $238,000
29. 2003-07-07
    listed $235,000
30. 2003-06-20
    historical
31. 2003-03-19
    listed $239,900
32. 2003-03-19
    historical
33. 2003-03-19
    historical
34. 2002-10-13
    listed $249,500
35. 2002-10-13
    listed
36. 2002-10-13
    listed
37. 2001-04-27
    soldstatus $190,000
38. 2001-02-26
    historical
39. 2001-01-11
    listed $194,900
40. 1998-09-30
    soldstatus $135,000
41. 1998-07-26
    historical
42. 1998-07-12
    listed $139,700
43. 1988-03-29
    soldstatus $144,000

ⓘ 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: $4,197 · $350/mo
• Projected year-2 tax: $4,197 · $350/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 5 d/yr ≥114°F today · 13 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: $54,862
• − Mortgage interest: −$27,448
• − Property taxes: −$4,197
• − Insurance: −$2,450
• − Repairs & maintenance: −$4,389
• − Management: −$4,389
• − HOA: −$10,800
• − Depreciation: −$14,255
• Taxable loss: −$13,065
• Est. tax savings @ 24.0%: +$3,136
• After-tax cash flow: $-1,806/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 — Rancho Mirage

• Score: 51/100
• State rank: #1065
• US rank: #25255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rancho Mirage, CA
• County: Riverside County · 2,287,001 people
• City population: 17,563
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 17,563
• Household income: $107,364
• Rent vs Own: 18.0% rent · 82.0% own
• Severe rent burden: 498.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 15% Two or more races 6% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 4% Romanian 3% Lithuanian 3%
• Foreign-born: 17% · Canada, South Korea, China
• Languages at home: 81% English-only · Spanish 11% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -210.99%
• Current HPI: 282.2957
• Rent YoY: ▲ 3.72%
• 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

+247.2% since first listed

29 events — show timeline

• 2026-04-12 Listed $500,000 CRMLS
• 2019-09-18 Listing Removed — GPSMLS
• 2017-05-09 Pending — GPSMLS
• 2017-05-08 Sold (Public Records) $259,000 Public Records
• 2017-05-08 Sold (MLS) $259,000 GPSMLS
• 2017-04-09 Contingent — GPSMLS
• 2017-03-27 Price Changed $275,000 GPSMLS
• 2017-03-27 Price Changed $275,900 GPSMLS
• 2017-02-15 Listed $289,900 GPSMLS
• 2004-05-05 Sold (Public Records) $299,500 Public Records
• 2004-04-05 Listing Removed — GPSMLS
• 2004-04-04 Listed $299,500 GPSMLS
• 2003-08-29 Sold (Public Records) $238,000 Public Records
• 2003-08-29 Sold (MLS) $238,000 GPSMLS
• 2003-07-07 Listed $235,000 GPSMLS
• 2003-06-20 Listing Removed — GPSMLS
• 2003-03-19 Delisted — PALM
• 2003-03-19 Delisted — PALM
• 2003-03-19 Listed $239,900 GPSMLS
• 2002-10-13 Listed — PALM
• 2002-10-13 Listed — PALM
• 2002-10-13 Listed $249,500 GPSMLS
• 2001-04-27 Sold (Public Records) $190,000 Public Records
• 2001-02-26 Listing Removed — GPSMLS
• 2001-01-11 Listed $194,900 GPSMLS
• 1998-09-30 Sold (Public Records) $135,000 Public Records
• 1998-07-26 Listing Removed — GPSMLS
• 1998-07-12 Listed $139,700 GPSMLS
• 1988-03-29 Sold (Public Records) $144,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $4,197 · -0.7% YoY. Source: county tax records.