2635 N Whitewater Club Dr · Palm Springs, CA 92262

$325,000

2 bd · 2.0 ba · 1,538 sqft · Condo public records · 32 Days on market

Built 1982 $525/mo HOA · 14% 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 +19.4/30.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• DSCR +6.1/10.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fully furnished 2/2 condo in Phase 5- located in Palm Springs CC. End unit with 2 spacious patios. 1 with full view to the beautiful San Jacinto mountain. 2 nd patio overlooking the luscious garden in the back step, s from the pool/spa. Unit shows very nice- no need to preview. Upgraded window coverings and 2 security rollshutters on master and guest room sliding doors.

Key facts

• Gated community
• End unit
• Private patios

Tags

• GATED COMMUNITY
• END UNIT
• PRIVATE PATIOS
• MOUNTAIN VIEWS
• LUSH GARDEN SURROUNDINGS
• MID-CENTURY INSPIRED DESIGN

Property features AI

Finance

• Other: Property listed as fixer condition; Has view
• HOA & community: Monthly HOA dues; Association maintains landscaping; Controlled access; Greenbelt/park; Guest parking; Pets allowed per association rules

Exterior

• Parking: Assigned carport (1 covered parking space, 1 total space)
• Security: Gated
• Utilities: Fee land lease type: Fee
• Home design: Residential condominium (attached); One level / single-story; Faces east; Gated community
• Construction: Condominium construction; Attached common walls
• Exterior features: Community pool; Community spa; Greenbelt and mountain views

Interior

• Kitchen: Dishwasher; Range/Oven; Refrigerator
• Bedrooms: Unit on one level
• Flooring: Tile floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heat; Central cooling
• Interior features: Living room; Dining area; Patio (open); Walk-in closet; Fireplace in living room
• Laundry & utility: Laundry in unit; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $325k.

Deal economics

• At list price, monthly cash flow is $365 ($4k/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 7.6% vs local median 2.7% in Palm Springs — 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 (#348 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+; Watch: schools C-, crime 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 flat; 662 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); 55% 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 $3,709/mo this rent would consume 62% of the median local household income ($72k/yr) (locally 1866% 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 $10k 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 32 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 27y 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 $153k; list at $325k implies a 112% gain — meaningful room to come down on a strong offer.

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 $315,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F 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?
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 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: 7.64%
• Cash-on-cash: 4.81%
• DSCR: 1.21
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.46% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.58×
• Total profit: $-38,425
• Equity at exit: $48,459

10-year hold

• IRR: -7.7%
• Equity multiple: 0.58×
• Total profit: $-38,573
• Equity at exit: $28,100

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 92262

• Rents YoY: 0.5%
• Active inventory: 662
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $3,709 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$200 /mo · $2,404/yr
• Insurance: −$135
• HOA: −$525
• Vacancy / Maint / Mgmt: −$779
• Net cashflow: $365

Break-even live

Break-even rent $3,247

Max offer price $325,000

Occupancy floor 85%

Sensitivity live

Price	-10% $549	-5% $457	+0% $365	+5% $273	+10% $181
Rent	-10% $72	-5% $218	+0% $365	+5% $511	+10% $658
Rate	-1.0pp $528	-0.5pp $447	base $365	+0.5pp $281	+1.0pp $195

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2660 N Farrell Dr Palm Springs, CA	3.0	2.0	1696	$4,900	$2.89	44d	1	0.09mi
2750 E Vincentia Rd Palm Springs, CA	3.0	2.0	1826	$4,400	$2.41	25d	1	0.18mi
2522 N Whitewater Club Dr Unit C Palm Springs, CA	2.0	2.0	1101	$4,320	$3.92	44d	1	0.20mi
3010 E Verona Rd Palm Springs, CA	3.0	2.0	1700	$4,500	$2.65	44d	1	0.25mi
2455 E Rogers Rd Palm Springs, CA	3.0	2.0	1403	$3,900	$2.78	25d	1	0.25mi
3033 E Verona Rd Palm Springs, CA	3.0	2.0	1652	$2,999	$1.82	25d	1	0.28mi
2184 E Powell Rd Palm Springs, CA	3.0	2.0	1391	$3,500	$2.52	44d	1	0.28mi
2184 E Powell Rd Palm Springs, CA	3.0	2.0	1391	$3,500	$2.52	15d	1	0.28mi
2415 E Finley Rd Palm Springs, CA	3.0	2.0	1600	$3,560	$2.23	44d	1	0.30mi
2290 N Victoria Rd Palm Springs, CA	3.0	3.0	1752	$5,270	$3.01	44d	1	0.31mi
2342 N San Gorgonio Rd Palm Springs, CA	3.0	3.0	1700	$4,275	$2.51	44d	1	0.31mi
2375 N San Antonio Rd Palm Springs, CA	3.0	2.0	1382	$3,600	$2.60	25d	1	0.33mi
2200 Acacia Rd E Palm Springs, CA	3.0	2.0	1597	$5,800	$3.63	21d	1	0.35mi
2200 Acacia Rd E Palm Springs, CA	3.0	2.0	1597	$5,800	$3.63	44d	1	0.35mi
2601 N Cerritos Rd Palm Springs, CA	3.0	2.0	1224	$3,095	$2.53	17d	1	0.35mi
2525 N Cerritos Rd Palm Springs, CA	3.0	2.0	1345	$7,495	$5.57	15d	1	0.35mi
2525 N Cerritos Rd Palm Springs, CA	3.0	2.0	1345	$7,495	$5.57	44d	1	0.35mi
2240 N San Gorgonio Rd Palm Springs, CA	3.0	2.0	1260	$3,600	$2.86	25d	1	0.37mi
2223 N Magnolia Rd Palm Springs, CA	3.0	2.0	1472	$3,600	$2.45	25d	1	0.37mi
2600 N Chuperosa Rd Palm Springs, CA	3.0	2.0	1447	$3,875	$2.68	44d	1	0.42mi
2235 N Los Alamos Rd Palm Springs, CA	3.0	2.0	1399	$5,000	$3.57	44d	1	0.45mi
2295 Nicola Rd E Palm Springs, CA	3.0	2.0	1338	$3,990	$2.98	44d	1	0.47mi
2098 N San Clemente Rd Palm Springs, CA	3.0	2.5	2192	$3,800	$1.73	8d	1	0.50mi
2630 N Biskra Rd Palm Springs, CA	3.0	2.0	1450	$2,900	$2.00	5d	1	0.51mi
2990 N Bahada Rd Palm Springs, CA	3.0	2.0	1550	$6,000	$3.87	44d	1	0.52mi
3005 N Chuperosa Rd Palm Springs, CA	3.0	2.0	1134	$3,500	$3.09	44d	1	0.52mi
3545 Silent Dunes Way Palm Springs, CA	3.0	2.0	2023	$3,000	$1.48	25d	1	0.60mi
1479 E Francis Dr Unit B Palm Springs, CA	3.0	2.0	2000	$3,500	$1.75	25d	1	0.76mi
3370 E Avenida Fey Norte Palm Springs, CA	3.0	2.0	1518	$5,500	$3.62	44d	1	0.91mi
1331 E Luna Way Palm Springs, CA	3.0	2.0	1512	$4,900	$3.24	44d	1	0.93mi
3663 E Paseo Barbara Palm Springs, CA	3.0	2.0	1708	$3,499	$2.05	44d	1	0.93mi
1181 Sunflower Ln Palm Springs, CA	2.0	2.0	1068	$3,000	$2.81	44d	1	0.94mi
2564 N Aurora Dr Palm Springs, CA	3.0	2.0	1354	$3,500	$2.58	44d	1	0.95mi
1751 E Sandalwood Dr Palm Springs, CA	2.0	2.0	1050	$2,600	$2.48	25d	1	1.02mi
1233 E Via Escuela Palm Springs, CA	3.0	2.0	2080	$4,500	$2.16	5d	1	1.03mi
1411 N Sunrise Way Palm Springs, CA	2.0	2.0	1067	$1,899	$1.78	44d	1	1.06mi
1407 N Sunrise Way #29 Palm Springs, CA	2.0	2.0	1100	$2,750	$2.50	44d	1	1.08mi
1407 N Sunrise Way Palm Springs, CA	1.0–2.0	1.0–2.0	935	$2,750	$2.94	8d	2	1.08mi
1123 E El Cid Palm Springs, CA	3.0	2.0	1722	$4,695	$2.73	0d	1	1.11mi
1405 N Sunrise Way #2 Palm Springs, CA	2.0	2.0	1170	$2,200	$1.88	44d	1	1.11mi

HOA detail condo

• Monthly dues: $525 · $6,300/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-05-19
   status Pending
2. 2026-04-27
   historical Backup Offers Accepted
3. 2026-04-16
   listed $325,000 Active
4. 2012-07-13
   historical
5. 2012-07-13
   listed $2,500 Active
6. 2012-04-30
   soldstatus $153,200 372-char remark

   Show marketing remark (372 chars)

   Fully furnished 2/2 condo in Phase 5- located in Palm Springs CC. End unit with 2 spacious patios. 1 with full view to the beautiful San Jacinto mountain. 2 nd patio overlooking the luscious garden in the back step, s from the pool/spa. Unit shows very nice- no need to preview. Upgraded window coverings and 2 security rollshutters on master and guest room sliding doors.

7. 2012-04-30
   soldstatus $153,500

   Show marketing remark (372 chars)

   Fully furnished 2/2 condo in Phase 5- located in Palm Springs CC. End unit with 2 spacious patios. 1 with full view to the beautiful San Jacinto mountain. 2 nd patio overlooking the luscious garden in the back step, s from the pool/spa. Unit shows very nice- no need to preview. Upgraded window coverings and 2 security rollshutters on master and guest room sliding doors.

8. 2012-01-02
   listed $154,900 372-char remark

   Show marketing remark (372 chars)

   Fully furnished 2/2 condo in Phase 5- located in Palm Springs CC. End unit with 2 spacious patios. 1 with full view to the beautiful San Jacinto mountain. 2 nd patio overlooking the luscious garden in the back step, s from the pool/spa. Unit shows very nice- no need to preview. Upgraded window coverings and 2 security rollshutters on master and guest room sliding doors.

9. 2000-02-16
   soldstatus $117,950
10. 2000-02-16
    soldstatus $118,000
11. 1999-12-03
    historical
12. 1999-01-05
    listed $119,888

ⓘ 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: $2,404 · $200/mo
• Projected year-2 tax: $2,470 · $206/mo
• Expected delta: +$66/yr (+$5/mo · 2.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,504
• − Mortgage interest: −$18,205
• − Property taxes: −$2,404
• − Insurance: −$1,625
• − Repairs & maintenance: −$3,560
• − Management: −$3,560
• − HOA: −$6,300
• − Depreciation: −$9,455
• Taxable loss: −$605
• Est. tax savings @ 24.0%: +$145
• After-tax cash flow: $4,522/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 — Palm Springs

• Score: 66/100
• State rank: #348
• US rank: #11850

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Springs, CA
• County: Riverside County · 2,287,001 people
• City population: 46,786
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 26,887
• Household income: $71,672
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 1866.0

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 0.58)
• Race & ethnicity: White 58% Hispanic / Latino 27% Two or more races 13% Black 9% Asian 3%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Lithuanian 3% Slovak 3% Italian 2%
• Foreign-born: 17% · Canada, China
• Languages at home: 75% English-only · Spanish 19% French/Haitian/Cajun 1% German/W. Germanic 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: ▼ -1082.67%
• Current HPI: 434.0524
• Rent YoY: ▲ 0.46%
• 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

+171.1% since first listed

12 events — show timeline

• 2026-05-19 Pending — TheMLS
• 2026-04-27 Contingent — TheMLS
• 2026-04-16 Listed $325,000 TheMLS
• 2012-07-13 Listing Removed — GPSMLS
• 2012-07-13 Listed $2,500 GPSMLS
• 2012-04-30 Sold (Public Records) $153,500 Public Records
• 2012-04-30 Sold (MLS) $153,200 GPSMLS
• 2012-01-02 Listed $154,900 GPSMLS
• 2000-02-16 Sold (Public Records) $118,000 Public Records
• 2000-02-16 Sold (MLS) $117,950 PALM
• 1999-12-03 Delisted — PALM
• 1999-01-05 Listed $119,888 PALM

Property tax history

+1.9%/yr

Latest (2025): $2,404 · -2.3% YoY. Source: county tax records.