45 Mirage Dr · Cathedral City, CA 92234

$55,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 64 Days on market

Built 1975 $38/sqft · 39% below area Est $90k · 39% under

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Located in desirable the Caliente Sands Located in the desirable Caliente Sands 55+ community, 45 Mirage Drive, a 1975 Redmond (Southwood) mobile home with 1440 sq. ft. , offers two bedrooms and two bathrooms at an exceptional value. Entry to this lovely home is via the east-facing front door, also accessible by a large ramp, which opens into a large, bright living room that extends around to the spacious dining area with ceiling fan and built-in storage. The adjacent, open-plan kitchen, with an eat-in island, has a full complement of appliances as well as bountiful storage; it opens to a equally-bright second living room / den, also with a ceiling fan, has a double-slider offering access back out onto the east facing deck. The primary bedroom, at the south end of the residence, features an ensuite full bath (garden tub and separate shower). Adjacent is the guest bedroom that has direct access to the full guest bathroom. Beyond is the laundry area with full-size washer / dryer with the leisure door offering access to the covered carport. The home has an HVAC system for climate control and a second-generation swamp cooler to help lower utility bills. The yard area adjacent to the deck is ready for new plantings and quiet enjoyment. Tandem parking is under the carport awning; there is also a large shed at the back of the carport. ll This home is fully furnished, and all furniture and furnishings will transfer to the buyer upon sale. Space rent for the new owner of 45 Mirage Drive will be $685.18 per month; a figure which must be verified by the buyer. Approval by park management at the Royal Palms is required for purchase.

Key facts

• Built in storage
• Ceiling fan
• Bright living room

Tags

• EAST FACING FRONT DOOR
• BRIGHT LIVING ROOM
• SPACIOUS DINING AREA
• CEILING FAN
• BUILT IN STORAGE
• OPEN PLAN KITCHEN

🏷️ Possibly a rental listed for sale. The $55,000 price doesn't fit this home's estimated sale value (~$89,654) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.
• Cap rate 45.6% 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 at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).
• This rent runs 44% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $15k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $15k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $51,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 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 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 4.90% ✓
• Cap rate: 45.56%
• Cash-on-cash: 140.25%
• DSCR: 7.24
• GRM: 1.7

CMA / ARV

• ARV (median comp): $89,654
• List price: $55,000
• Delta: -38.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24 Mesa View Dr	0.09mi	2/2.0	1,440 (0%)	2mo	$68,000	$47	94
257 Wolf	0.21mi	2/2.0	1,440 (0%)	3mo	$75,000	$52	88
126 Via Valverde	0.52mi	2/2.0	1,440 (0%)	2mo	$179,500	$125	74
153 Estrada Way	0.56mi	2/2.0	1,440 (0%)	1mo	$46,500	$32	73
67 Paseo Laredo North	0.57mi	2/2.0	1,440 (0%)	1mo	$55,000	$38	73
392 Standing Bear	0.37mi	2/2.0	1,368 (-5%)	2mo	$113,000	$83	72
244 Settles Dr	0.66mi	2/2.0	1,440 (0%)	1mo	$135,000	$94	68
89 Armenia Dr	0.56mi	2/2.0	1,416 (-2%)	3mo	$177,000	$125	68
229 Calle Leandro	0.70mi	2/2.0	1,440 (0%)	3mo	$90,000	$63	65
162 Hilligoss Dr	0.69mi	2/2.0	1,504 (+4%)	3mo	$66,000	$44	58
234 Settles Dr	0.72mi	2/2.0	1,512 (+5%)	3mo	$117,000	$77	56
314 Armenia Dr	0.53mi	2/2.0	1,647 (+14%)	3mo	$169,900	$103	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 7.90×
• Total profit: $106,330
• Equity at exit: $8,201

10-year hold

• IRR: —
• Equity multiple: 16.76×
• Total profit: $242,710
• Equity at exit: $4,755

Cash invested: $15,400 (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: 1.7×

Monthly cashflow live

• Estimated rent: $2,697 high
• Mortgage (P&I): −$288
• Tax from tax record: −$20 /mo · $238/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$566
• Net cashflow: $1,800

Break-even live

Break-even rent $419

Max offer price $55,000

Occupancy floor 28%

Sensitivity live

Price	-10% $1,831	-5% $1,815	+0% $1,800	+5% $1,784	+10% $1,769
Rent	-10% $1,587	-5% $1,693	+0% $1,800	+5% $1,906	+10% $2,013
Rate	-1.0pp $1,828	-0.5pp $1,814	base $1,800	+0.5pp $1,786	+1.0pp $1,771

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
69200 Nilda Dr Cathedral City, CA	3.0	2.0	1330	$2,495	$1.88	22d	1	0.09mi
34750 Marcia Rd Unit 02 Cathedral City, CA	3.0	2.0	1325	$2,000	$1.51	18d	1	0.20mi
68859 Paseo Real Cathedral City, CA	2.0	2.0	1406	$3,960	$2.82	15d	1	0.25mi
68859 Paseo Real Cathedral City, CA	2.0	2.0	1406	$3,960	$2.82	44d	1	0.25mi
35615 Paseo Circulo E Cathedral City, CA	1.0	2.0	1029	$2,250	$2.19	44d	1	0.30mi
69180 Victoria Dr #8 Cathedral City, CA	3.0	2.0	1230	$1,995	$1.62	3d	1	0.38mi
68882 Calle Mula Cathedral City, CA	2.0	2.0	1714	$2,500	$1.46	21d	1	0.39mi
35200 Cathedral Canyon Dr Unit H64 Cathedral City, CA	2.0	2.0	1375	$2,500	$1.82	44d	1	0.51mi
69155 Dinah Shore Dr Cathedral City, CA	2.0	2.0	1100	$1,795	$1.63	44d	1	0.52mi
69155 Dinah Shore Dr Apt 20 Cathedral City, CA	2.0	2.0	1200	$2,050	$1.71	44d	1	0.53mi
36040 Avenida de las Montanas Unit E Cathedral City, CA	2.0	2.0	1220	$3,200	$2.62	44d	1	0.57mi
35200 Cathedral Canyon Dr Unit B10 Cathedral City, CA	2.0	2.0	1384	$2,600	$1.88	44d	1	0.58mi
152 Estrada Way #152 Cathedral City, CA	2.0	2.0	1500	$2,200	$1.47	44d	1	0.59mi
68615 Paseo Soria Cathedral City, CA	2.0	2.0	1462	$3,500	$2.39	8d	1	0.59mi
159 Estrada Way Cathedral City, CA	3.0	2.0	1800	$2,850	$1.58	44d	1	0.61mi
69603 Heather Way Rancho Mirage, CA	3.0	2.0	1218	$2,300	$1.89	44d	1	0.64mi
69646 Antonia Way Rancho Mirage, CA	2.0	2.0	966	$2,450	$2.54	19d	1	0.64mi
34361 Denise Way Rancho Mirage, CA	3.0	2.0	1400	$2,800	$2.00	44d	1	0.68mi
34073 Emily Way Rancho Mirage, CA	2.0	2.0	966	$2,100	$2.17	18d	1	0.74mi
34073 Emily Way Rancho Mirage, CA	2.0	2.0	966	$2,100	$2.17	22d	1	0.74mi
34197 Calle Mora Cathedral City, CA	2.0	2.0	1171	$2,300	$1.96	22d	1	0.75mi
34197 Calle Mora Cathedral City, CA	2.0	2.0	1171	$2,300	$1.96	14d	1	0.75mi
34197 Calle Mora Cathedral City, CA	2.0	2.0	1171	$2,300	$1.96	11d	1	0.75mi
34071 Denise Way Rancho Mirage, CA	3.0	2.0	1218	$2,599	$2.13	25d	1	0.76mi
68368 Calle Leon Cathedral City, CA	2.0	2.0	1406	$3,790	$2.70	44d	1	0.86mi
68368 Calle Leon Cathedral City, CA	2.0	2.0	1406	$3,790	$2.70	15d	1	0.86mi
68153 Lakeland Dr Cathedral City, CA	2.0	2.0	1255	$2,500	$1.99	25d	1	0.87mi
33255 Date Palm Dr Cathedral City, CA	2.0	2.0	1050	$1,795	$1.71	44d	1	0.91mi
33892 Sky Blue Water Trl Cathedral City, CA	3.0	2.0	1352	$2,800	$2.07	5d	1	1.01mi
250 S Paseo Laredo Cathedral City, CA	2.0	2.0	1600	$1,800	$1.12	13d	1	1.02mi
251 S Paseo Laredo Cathedral City, CA	2.0	2.0	1440	$2,400	$1.67	44d	1	1.03mi
251 S Paseo Laredo Unit 251 Cathedral City, CA	1.0	2.0	1440	$2,550	$1.77	25d	1	1.03mi
33495 Cathedral Canyon Dr Unit B Cathedral City, CA	2.0	1.0	1100	$2,100	$1.91	44d	1	1.05mi
33495 Cathedral Canyon Dr Cathedral City, CA	2.0	1.0	1100	$2,200	$2.00	44d	1	1.05mi
35082 Mission Hills Dr Rancho Mirage, CA	2.0	2.5	1624	$3,250	$2.00	13d	1	1.22mi
35090 Mission Hills Dr Rancho Mirage, CA	2.0	2.0	1596	$3,950	$2.47	25d	1	1.23mi
8 Mission Ct Rancho Mirage, CA	2.0	2.0	1540	$2,500	$1.62	19d	1	1.24mi
35054 Mission Hills Dr Rancho Mirage, CA	2.0	2.0	1396	$2,549	$1.83	5d	1	1.25mi
38 Mission Ct Rancho Mirage, CA	3.0	3.0	1382	$3,500	$2.53	44d	1	1.26mi
35 Mission Ct Rancho Mirage, CA	3.0	2.0	1382	$4,125	$2.98	44d	1	1.28mi

Listing history 20 events

1. 2026-06-18
   days on market $55,000 Active 64 DOM
2. 2026-06-17
   days on market $55,000 Active 63 DOM
3. 2026-06-16
   days on market $55,000 Active 62 DOM
4. 2026-06-15
   days on market $55,000 Active 61 DOM
5. 2026-06-13
   days on market $55,000 Active 59 DOM
6. 2026-06-13
   days on market $55,000 Active 58 DOM
7. 2026-06-09
   days on market $55,000 Active 55 DOM
8. 2026-06-08
   days on market $55,000 Active 54 DOM
9. 2026-06-07
   days on market $55,000 Active 53 DOM
10. 2026-06-04
    pricedays on market $55,000 Active 50 DOM
11. 2026-06-03
    days on market $69,900 Active 49 DOM
12. 2026-06-02
    days on market $69,900 Active 48 DOM
13. 2026-06-01
    days on market $69,900 Active 47 DOM
14. 2026-05-31
    days on market $69,900 Active 46 DOM
15. 2026-03-25
    listed $69,900 Active 1651-char remark

    Show marketing remark (1651 chars)

    Located in desirable the Caliente Sands Located in the desirable Caliente Sands 55+ community, 45 Mirage Drive, a 1975 Redmond (Southwood) mobile home with 1440 sq. ft. , offers two bedrooms and two bathrooms at an exceptional value. Entry to this lovely home is via the east-facing front door, also accessible by a large ramp, which opens into a large, bright living room that extends around to the spacious dining area with ceiling fan and built-in storage. The adjacent, open-plan kitchen, with an eat-in island, has a full complement of appliances as well as bountiful storage; it opens to a equally-bright second living room / den, also with a ceiling fan, has a double-slider offering access back out onto the east facing deck. The primary bedroom, at the south end of the residence, features an ensuite full bath (garden tub and separate shower). Adjacent is the guest bedroom that has direct access to the full guest bathroom. Beyond is the laundry area with full-size washer / dryer with the leisure door offering access to the covered carport. The home has an HVAC system for climate control and a second-generation swamp cooler to help lower utility bills. The yard area adjacent to the deck is ready for new plantings and quiet enjoyment. Tandem parking is under the carport awning; there is also a large shed at the back of the carport. ll This home is fully furnished, and all furniture and furnishings will transfer to the buyer upon sale. Space rent for the new owner of 45 Mirage Drive will be $685.18 per month; a figure which must be verified by the buyer. Approval by park management at the Royal Palms is required for purchase.

16. 2009-04-22
    historical
17. 2009-04-02
    price $53,000
18. 2008-04-21
    listed $62,950
19. 2007-02-16
    historical
20. 2006-08-16
    listed $45,000

ⓘ 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: $238 · $20/mo
• Projected year-2 tax: $418 · $35/mo
• Expected delta: +$180/yr (+$15/mo · 75.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥113°F today · 20 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: $32,370
• − Mortgage interest: −$3,081
• − Property taxes: −$238
• − Insurance: −$275
• − Repairs & maintenance: −$2,590
• − Management: −$2,590
• − Depreciation: −$1,600
• Taxable income: $21,997
• Est. tax owed @ 24.0%: −$5,279
• After-tax cash flow: $16,319/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

+55.3% since first listed

6 events — show timeline

• 2026-03-25 Listed $69,900 GPSMLS
• 2009-04-22 Listing Removed — GPSMLS
• 2009-04-02 Price Changed $53,000 GPSMLS
• 2008-04-21 Listed $62,950 GPSMLS
• 2007-02-16 Listing Removed — GPSMLS
• 2006-08-16 Listed $45,000 GPSMLS

Property tax history

+2.1%/yr

Latest (2025): $238 · -2.1% YoY. Source: county tax records.