67696 Lagos Way · Cathedral City, CA 92234

$219,000

2 bd · 2.0 ba · 1,212 sqft · Condo public records · 75 Days on market

Built 1986 $954/mo HOA · 26% 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 +22.9/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 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

Step into the Palm Springs lifestyle at Desert Princess Country Club with this bright and inviting 2BD/2BA condo offering gorgeous mountain views, lush greenbelts, and beautiful landscaping. This single-level unit with detached garage has been lovingly cared for offers a private entry courtyard, two large ensuite bedrooms , generous storage and a spacious kitchen with stainless appliances. Large sliders from both bedrooms open to a covered patio just steps from the pool and spa. Enjoy indoor-outdoor living, gorgeous greens and community landscaping while also enjoying a 27 hole championship golf course. HOA covers tennis, pickleball, 24-hour security, clubhouse access, and more. This is the

Key facts

• Spacious kitchen
• Covered patio
• $954 HOA

Tags

• PRIVATE ENTRY COURTYARD
• SPACIOUS KITCHEN
• COVERED PATIO

Property features AI

Finance

• Other: Complex has 1,212 units; Complex name: Desert Princess HOA
• Financial info: Land lease (expires 2069) with annual land lease payment
• HOA & community: Monthly HOA fee of $954; Community amenities: clubhouse, gated community with guard, golf, pickleball, tennis courts, fitness center; Association allows pets

Exterior

• Parking: 1 covered parking space; 1-car garage
• Security: 24-hour security; Gated community with guard
• Utilities: Planned urban development
• Home design: Residential condominium (attached); One level; Entry on first floor; Located in a gated community (24-hour security)
• Construction: Attached construction
• Exterior features: On golf course; Views of golf course, desert, green belt and mountains; Association / community pool

Interior

• Kitchen: Dishwasher; Range/oven; Microwave; Refrigerator; Garbage disposal
• Flooring: Carpeted floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; A/C
• Interior features: Breakfast bar; Living room; Covered patio; Entry room; Has view
• Laundry & utility: In-unit laundry; Stackable washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $219k.

Deal economics

• At list price, monthly cash flow is $386 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $219k).
• Recommended offer: $206k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 5.1% in Cathedral City — 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 (#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); 72% 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 $3,632/mo this rent would consume 59% 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 $7k 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 75 days — a 6% lower offer ($206k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 26% of rent.
• Climate carrying-cost: extreme-heat days projected 3→9/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.66% ✓
• Cap rate: 8.41%
• Cash-on-cash: 7.56%
• DSCR: 1.34
• GRM: 5.0

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: -4.1%
• Equity multiple: 0.85×
• Total profit: $-9,425
• Equity at exit: $32,654

10-year hold

• IRR: 6.3%
• Equity multiple: 1.48×
• Total profit: $29,442
• Equity at exit: $18,935

Cash invested: $61,320 (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: 5.0×

Monthly cashflow live

• Estimated rent: $3,632 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$289 /mo · $3,472/yr
• Insurance: −$91
• HOA: −$954
• Vacancy / Maint / Mgmt: −$763
• Net cashflow: $386

Break-even live

Break-even rent $3,143

Max offer price $219,000

Occupancy floor 84%

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28984 Desert Princess Dr Unit 702 Cathedral City, CA	1.0	2.0	851	$3,400	$4.00	43d	1	0.02mi
28964 Desert Princess Dr Cathedral City, CA	2.0	2.0	1177	$2,700	$2.29	43d	1	0.03mi
28859 Desert Princess Dr Cathedral City, CA	3.0	2.0	1285	$3,700	$2.88	43d	1	0.03mi
28914 Desert Princess Dr Unit 702 Palm Springs, CA	2.0	2.0	1212	$4,200	$3.47	24d	1	0.04mi
67665 Lagos Way Cathedral City, CA	3.0	2.0	1285	$4,500	$3.50	43d	1	0.07mi
29118 Desert Princess Dr Unit 702 Cathedral City, CA	2.0	2.0	1212	$4,200	$3.47	43d	1	0.08mi
28764 Taos Ct Cathedral City, CA	2.0	2.0	1177	$4,400	$3.74	43d	1	0.10mi
28656 Taos Ct Cathedral City, CA	2.0	2.0	1177	$2,200	$1.87	43d	1	0.12mi
67595 Lagos Way Cathedral City, CA	3.0	3.0	1285	$3,500	$2.72	43d	1	0.13mi
28602 Taos Ct Cathedral City, CA	2.0	2.0	1212	$4,000	$3.30	43d	1	0.15mi
28827 Isleta Ct Cathedral City, CA	3.0	2.0	1285	$4,500	$3.50	43d	1	0.16mi
28920 W Natoma Dr Cathedral City, CA	2.0	2.0	1177	$4,000	$3.40	43d	1	0.16mi
28868 Isleta Ct Unit 702 Cathedral City, CA	2.0	2.0	1285	$4,900	$3.81	24d	1	0.20mi
28868 Isleta Ct Cathedral City, CA	2.0	2.0	1285	$4,900	$3.81	43d	1	0.20mi
29017 W Natoma Dr Cathedral City, CA	2.0	2.0	1177	$2,395	$2.03	43d	1	0.21mi
28464 Taos Ct Cathedral City, CA	2.0	2.0	1212	$2,100	$1.73	23d	1	0.23mi
28477 Taos Ct Cathedral City, CA	2.0	2.0	1212	$4,000	$3.30	43d	1	0.24mi
67727 S Natoma Dr Cathedral City, CA	2.0	3.0	1425	$4,500	$3.16	43d	1	0.25mi
29199 E Portales Dr Unit 702 Cathedral City, CA	2.0	2.0	1177	$4,200	$3.57	43d	1	0.28mi
28763 E Portales Dr Cathedral City, CA	2.0	2.0	984	$4,200	$4.27	7d	1	0.29mi
29170 W Laguna Dr Cathedral City, CA	2.0	3.0	1425	$6,000	$4.21	43d	1	0.32mi
67552 N Natoma Dr Cathedral City, CA	2.0	2.0	1177	$4,200	$3.57	43d	1	0.33mi
29704 W Trancas Dr Cathedral City, CA	2.0	2.5	1425	$6,000	$4.21	43d	1	0.38mi
67463 Toltec Ct Cathedral City, CA	1.0	2.0	851	$3,500	$4.11	43d	1	0.40mi
67444 Toltec Ct Cathedral City, CA	2.0	2.0	1212	$3,000	$2.48	2d	1	0.44mi
67847 N Portales Dr Unit 288 Cathedral City, CA	2.0	2.0	1212	$4,200	$3.47	43d	1	0.45mi
67821 N Portales Dr Cathedral City, CA	2.0	2.0	1177	$4,000	$3.40	43d	1	0.45mi
67821 N Portales Dr Unit 251 Cathedral City, CA	2.0	2.0	1177	$4,000	$3.40	24d	1	0.45mi
67553 N Portales Dr Unit 288 Cathedral City, CA	2.0	2.0	1212	$4,200	$3.47	24d	1	0.45mi
67553 N Portales Dr Cathedral City, CA	2.0	2.0	1212	$4,200	$3.47	43d	1	0.45mi
67240 S Chimayo Dr Unit 702 Cathedral City, CA	1.0	2.0	851	$2,200	$2.59	43d	1	0.51mi
67328 Cumbres Ct Unit 702 Cathedral City, CA	1.0	2.0	851	$3,400	$4.00	43d	1	0.51mi
67232 S Chimayo Dr Cathedral City, CA	3.0	2.0	1285	$4,500	$3.50	43d	1	0.52mi
67320 Cumbres Ct Cathedral City, CA	2.0	2.0	1212	$4,200	$3.47	43d	1	0.52mi
67261 Cumbres Ct Cathedral City, CA	2.0	2.0	984	$4,000	$4.07	43d	1	0.55mi
68080 Risueno Rd Cathedral City, CA	2.0	1.0	800	$2,200	$2.75	14d	1	0.55mi
67242 Cumbres Ct Cathedral City, CA	3.0	2.0	1285	$4,500	$3.50	24d	1	0.58mi
67330 W Chimayo Dr Cathedral City, CA	2.0	2.0	1177	$3,300	$2.80	43d	1	0.60mi
67263 N Chimayo Dr Cathedral City, CA	2.0	2.0	1177	$4,200	$3.57	14d	1	0.62mi
67765 Ovante Rd Cathedral City, CA	3.0	2.0	1446	$2,699	$1.87	13d	1	0.64mi

HOA detail condo

• Monthly dues: $954 · $11,448/yr
• Likely covers: landscapingpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-04
   status $219,000 Pending 75 DOM
2. 2026-06-03
   days on market $219,000 Backup Offers Accepted 75 DOM
3. 2026-06-02
   days on market $219,000 Backup Offers Accepted 74 DOM
4. 2026-06-01
   days on market $219,000 Backup Offers Accepted 73 DOM
5. 2026-05-31
   days on market $219,000 Backup Offers Accepted 72 DOM
6. 2026-04-09
   historical Backup Offers Accepted
7. 2026-03-19
   listed $219,000 Active
8. 2025-10-17
   price
9. 2025-08-05
   listed 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: $3,472 · $289/mo
• Projected year-2 tax: $3,472 · $289/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 3 d/yr ≥112°F today · 9 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: $43,585
• − Mortgage interest: −$12,267
• − Property taxes: −$3,472
• − Insurance: −$1,095
• − Repairs & maintenance: −$3,487
• − Management: −$3,487
• − HOA: −$11,448
• − Depreciation: −$6,371
• Taxable income: $1,959
• Est. tax owed @ 24.0%: −$470
• After-tax cash flow: $4,166/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

4 events — show timeline

• 2026-04-09 Contingent — TheMLS
• 2026-03-19 Listed $219,000 TheMLS
• 2025-10-17 Price Changed — TheMLS
• 2025-08-05 Listed — TheMLS

Property tax history

+2.1%/yr

Latest (2025): $3,472 · -0.6% YoY. Source: county tax records.