688 Vista Lago Cir · Palm Desert, CA 92211

$429,000

3 bd · 2.5 ba · 1,814 sqft · Condo public records · 6 Days on market

Built 1990 $236/sqft · 6% above area Est $405k · 6% over $891/mo HOA · 18% 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).

• Cash flow +13.1/30.0
• 1% rule +6.4/10.0
• ARV discount +4.9/15.0
• DSCR +3.9/10.0
• Schools +3.8/10.0
• Livability +2.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very clean and well maintained upper level villa. Three bedrooms, two baths + powder room, in a spacious 1,814 SF. Home features high ceilings, walk-in closets, kitchen nook, large balcony over looking greenbelt and pool, with mountain views and a two car garage. Unit is well priced and furnished!

Key facts

• Furnished home
• Tennis
• Pickleball

Tags

• DESERT FALLS GOLF COURSE
• MOUNTAIN VIEWS
• FURNISHED HOME
• GENEROUS PRIMARY SUITES
• PICKLEBALL
• TENNIS

Property features AI

Finance

• Other: Managed by Desert Falls Villas; Complex contains approximately 1,000 units; Planned urban development; Directions: Enter at gate on Country Club Dr, 1111 Desert Falls Parkway
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Desert Falls Villas community management; Monthly HOA dues ($891); HOA amenities include clubhouse, fitness center, gated community with guard, golf, community pool and spa, and tennis; Association fees include clubhouse access; Call for association pet rules; pets permitted

Exterior

• Parking: Two covered parking spaces; Two-car garage; Guest parking onsite
• Security: Gated community with 24-hour guard
• Utilities: Public/district water; Sewer in street; Electric service available
• Home design: Residential condominium, attached; Two total floors in building; unit on second floor; Faces west; One-level living within the unit
• Construction: Hard coat stucco exterior; Lot level/flat
• Exterior features: Balcony; End unit; Sliding glass doors; Exterior security lights; Landscaped grounds; Street lighting and paved/asphalt streets; Greenbelt location; Mountain and greenbelt views

Interior

• Kitchen: Built-in and freestanding cooking appliances; Microwave; Free-standing electric range/oven; Range hood; Formica counters; Dishwasher; Garbage disposal; Refrigerator
• Bedrooms: Balcony access from living/bed (second floor entry noted)
• Flooring: Ceramic tile floors
• Bathrooms: Two full bathrooms; One half bathroom; Shower stall; Linen closet; Double vanity(s)
• Heating & cooling: Central heat; Central A/C
• Interior features: High ceilings (9 feet+); Furnished; Foyer entry; Double-pane windows with plantation shutters and screens; Built-ins; Vented exhaust fan; Cable TV
• Laundry & utility: Washer and dryer in unit; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $429k.

Deal economics

• At list price, monthly cash flow is $-14 ($-170/yr) — negative.
• To cash-flow at today's rent, offer at most $426k (0.6% below list).
• Meets the 1% rule at list price ($5k rent vs $429k).
• Recommended offer: $426k (0.6% below list) — sets the bar for cash-flow.
• Cap rate 6.3% 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 soft (-0.3%/yr); 635 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% 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 $4,870/mo this rent would consume 66% of the median local household income ($88k/yr) (locally 1181% 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 $13k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 22y 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: extreme-heat days projected 5→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $426,495 (0.6% 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.14% ✓
• Cap rate: 6.25%
• Cash-on-cash: -0.14%
• DSCR: 0.99
• GRM: 7.3

CMA / ARV

• ARV (median comp): $405,229
• List price: $429,000
• Delta: 8.33%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.9%
• Equity multiple: 0.30×
• Total profit: $-84,067
• Equity at exit: $63,965

10-year hold

• IRR: -27.2%
• Equity multiple: -0.06×
• Total profit: $-126,984
• Equity at exit: $37,092

Cash invested: $120,120 (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 92211

• Rents YoY: -0.3%
• Active inventory: 635
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $4,870 high
• Mortgage (P&I): −$2,250
• Tax from tax record: −$542 /mo · $6,502/yr
• Insurance: −$179
• HOA: −$891
• Vacancy / Maint / Mgmt: −$1,023
• Net cashflow: $-14

Break-even live

Break-even rent $4,888

Max offer price $426,495

Occupancy floor 95%

Sensitivity live

Price	-10% $229	-5% $107	+0% $-14	+5% $-136	+10% $-257
Rent	-10% $-399	-5% $-207	+0% $-14	+5% $178	+10% $371
Rate	-1.0pp $202	-0.5pp $95	base $-14	+0.5pp $-125	+1.0pp $-238

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: $107,250
• Closing costs: $12,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
709 Vista Lago Cir N Palm Desert, CA	2.0	2.0	1360	$2,700	$1.99	45d	1	0.05mi
651 Vista Lago Cir N Palm Desert, CA	2.0	2.0	1330	$5,700	$4.29	45d	1	0.08mi
259 Vista Royale Cir W Palm Desert, CA	2.0	2.0	1330	$5,600	$4.21	45d	1	0.17mi
237 Vista Royale Cir W Palm Desert, CA	3.0	2.5	1814	$6,200	$3.42	45d	1	0.19mi
248 Vista Royale Cir W Palm Desert, CA	2.0	2.0	1330	$4,999	$3.76	45d	1	0.21mi
221 Vista Royale Cir W Palm Desert, CA	2.0	2.5	1360	$5,900	$4.34	25d	1	0.23mi
221 Vista Royale Cir E Palm Desert, CA	2.0	2.0	1360	$5,900	$4.34	25d	1	0.25mi
726 Vista Lago Dr N Palm Desert, CA	3.0	2.5	1814	$4,900	$2.70	45d	1	0.26mi
319 Vista Royale Dr Palm Desert, CA	3.0	2.5	1814	$2,900	$1.60	45d	1	0.28mi
778 Montana Vista Dr Palm Desert, CA	3.0	2.5	1814	$6,500	$3.58	45d	1	0.28mi
781 Montana Vista Dr Palm Desert, CA	2.0	2.0	1330	$6,000	$4.51	45d	1	0.29mi
551 Desert Falls Dr E Palm Desert, CA	2.0	2.0	1330	$5,500	$4.14	45d	1	0.30mi
260 Vista Royale Cir E Palm Desert, CA	4.0	3.0	2236	$8,000	$3.58	45d	1	0.32mi
270 Vista Royale Cir E Palm Desert, CA	3.0	2.5	1814	$3,250	$1.79	45d	1	0.33mi
270 Vista Royale Cir E Palm Desert, CA	3.0	2.5	1814	$3,250	$1.79	6d	1	0.33mi
274 Vista Royale Cir E Palm Desert, CA	3.0	2.5	1814	$2,900	$1.60	25d	1	0.34mi
491 Desert Falls Dr N Palm Desert, CA	2.0	2.0	1360	$6,500	$4.78	45d	1	0.41mi
127 Villa Ct Palm Desert, CA	2.0	2.0	1330	$6,800	$5.11	45d	1	0.42mi
139 Villa Ct Palm Desert, CA	2.0	2.0	1330	$6,200	$4.66	45d	1	0.45mi
474 Evergreen Ash Palm Desert, CA	2.0	2.0	1330	$2,850	$2.14	25d	1	0.47mi
116 Avellino Cir Palm Desert, CA	2.0	2.0	1426	$6,200	$4.35	45d	1	0.50mi
272 Desert Falls Dr E Palm Desert, CA	2.0	2.0	1330	$6,250	$4.70	45d	1	0.50mi
207 Desert Falls Cir Palm Desert, CA	2.0	2.0	1330	$6,200	$4.66	45d	1	0.50mi
187 Desert Falls Cir Palm Desert, CA	3.0	2.5	1814	$5,999	$3.31	45d	1	0.51mi
189 Desert Falls Cir Palm Desert, CA	2.0	2.5	1814	$6,500	$3.58	45d	1	0.51mi
107 Avellino Cir Palm Desert, CA	2.0	2.0	1528	$5,900	$3.86	45d	1	0.53mi
216 Desert Falls Dr E Palm Desert, CA	2.0	2.0	1330	$3,250	$2.44	45d	1	0.53mi
156 Falls Ct Palm Desert, CA	3.0	2.5	1814	$6,000	$3.31	45d	1	0.53mi
100 Brandigo Cir Palm Desert, CA	2.0	2.0	1609	$4,500	$2.80	21d	1	0.54mi
182 Desert Falls Cir Palm Desert, CA	2.0	2.0	1330	$6,200	$4.66	45d	1	0.54mi
199 Desert Falls Dr E Palm Desert, CA	2.0	2.0	1330	$6,200	$4.66	45d	1	0.55mi
101 Avellino Cir Palm Desert, CA	2.0	2.0	1500	$3,000	$2.00	23d	1	0.55mi
37600 College Dr Palm Desert, CA	1.0–3.0	1.0–2.5	1195	$2,910	$2.44	0d	20	0.56mi
432 Desert Falls Dr N Palm Desert, CA	3.0	2.5	1814	$4,800	$2.65	45d	1	0.56mi
413 Desert Falls Dr N Palm Desert, CA	2.0	2.0	1330	$6,200	$4.66	45d	1	0.58mi
160 Desert Falls Cir Palm Desert, CA	2.0	2.0	1330	$4,000	$3.01	3d	1	0.60mi
164 Desert Falls Dr E Palm Desert, CA	2.0	2.0	1330	$3,000	$2.26	45d	1	0.64mi
136 Desert Falls Dr E Palm Desert, CA	3.0	2.5	1814	$3,200	$1.76	45d	1	0.70mi
607 Calle Vibrante Palm Desert, CA	3.0	2.5	1873	$2,700	$1.44	0d	1	0.71mi
607 Calle Vibrante Palm Desert, CA	3.0	2.0	1873	$2,895	$1.55	45d	1	0.71mi

HOA detail condo

• Monthly dues: $891 · $10,692/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $429,000 Active 6 DOM
2. 2026-06-18
   days on market $429,000 Active 3 DOM
3. 2026-06-17
   days on market $429,000 Active 2 DOM
4. 2026-06-15
   pricedays on marketlisting id $429,000 Active 1 DOM
5. 2026-05-31
   days on market $439,000 Active 223 DOM
6. 2026-04-03
   price $439,000 1084-char remark
7. 2026-03-28
   price $424,000 1084-char remark
8. 2025-10-20
   listed $439,000 Active 1084-char remark
9. 2025-05-21
   listed $6,500
10. 2022-07-08
    soldstatus $450,000 Closed 298-char remark

    Show marketing remark (298 chars)

    Very clean and well maintained upper level villa. Three bedrooms, two baths + powder room, in a spacious 1,814 SF. Home features high ceilings, walk-in closets, kitchen nook, large balcony over looking greenbelt and pool, with mountain views and a two car garage. Unit is well priced and furnished!

11. 2022-07-08
    soldstatus $450,000

    Show marketing remark (298 chars)

    Very clean and well maintained upper level villa. Three bedrooms, two baths + powder room, in a spacious 1,814 SF. Home features high ceilings, walk-in closets, kitchen nook, large balcony over looking greenbelt and pool, with mountain views and a two car garage. Unit is well priced and furnished!

12. 2022-06-08
    historical Active Under Contract 298-char remark

    Show marketing remark (298 chars)

    Very clean and well maintained upper level villa. Three bedrooms, two baths + powder room, in a spacious 1,814 SF. Home features high ceilings, walk-in closets, kitchen nook, large balcony over looking greenbelt and pool, with mountain views and a two car garage. Unit is well priced and furnished!

13. 2022-05-03
    listed $475,000 Active 298-char remark

    Show marketing remark (298 chars)

    Very clean and well maintained upper level villa. Three bedrooms, two baths + powder room, in a spacious 1,814 SF. Home features high ceilings, walk-in closets, kitchen nook, large balcony over looking greenbelt and pool, with mountain views and a two car garage. Unit is well priced and furnished!

14. 2005-02-18
    soldstatus $355,000
15. 2004-12-29
    historical
16. 2004-05-30
    listed $364,000
17. 2000-05-25
    soldstatus $190,000
18. 1992-12-11
    soldstatus $152,000

ⓘ 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: $6,502 · $542/mo
• Projected year-2 tax: $6,502 · $542/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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 5 d/yr ≥114°F today · 14 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: $58,438
• − Mortgage interest: −$24,031
• − Property taxes: −$6,502
• − Insurance: −$2,145
• − Repairs & maintenance: −$4,675
• − Management: −$4,675
• − HOA: −$10,692
• − Depreciation: −$12,480
• Taxable loss: −$6,762
• Est. tax savings @ 24.0%: +$1,623
• After-tax cash flow: $1,453/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): 28,092
• Household income: $88,477
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 1181.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 16% Two or more races 11% Asian 4% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Scotch-Irish 3% Slovak 3% Romanian 3%
• Foreign-born: 16% · Canada, China
• Languages at home: 85% English-only · Spanish 9% Other Indo-European 2% 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: ▼ -166.92%
• Current HPI: 233.4619
• Rent YoY: ▼ -0.30%
• 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

+182.2% since first listed

16 events — show timeline

• 2026-06-15 Listed $429,000 TheMLS
• 2026-06-01 Rental Removed $6,500 CRMLS
• 2026-06-01 Listing Removed — GPSMLS
• 2026-04-03 Price Changed $439,000 GPSMLS
• 2026-03-28 Price Changed $424,000 GPSMLS
• 2025-10-20 Listed $439,000 GPSMLS
• 2025-05-21 Listed for Rent $6,500 CRMLS
• 2022-07-08 Sold (Public Records) $450,000 Public Records
• 2022-07-08 Sold (MLS) $450,000 GPSMLS
• 2022-06-08 Contingent — GPSMLS
• 2022-05-03 Listed $475,000 GPSMLS
• 2005-02-18 Sold (Public Records) $355,000 Public Records
• 2004-12-29 Listing Removed — GPSMLS
• 2004-05-30 Listed $364,000 GPSMLS
• 2000-05-25 Sold (Public Records) $190,000 Public Records
• 1992-12-11 Sold (Public Records) $152,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $6,502 · +2.7% YoY. Source: county tax records.