38 Paseo Laredo N · Cathedral City, CA 92234

$110,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 44 Days on market

Built 1972 Good condition $76/sqft · 37% above area Est $80k · 37% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully updated 1972 Silvercrest home offering 2 bedrooms, 2 bathrooms, approximately 1,440 sq. ft. , plus a versatile den/office bonus room. Thoughtfully refreshed throughout a year ago and promptly rented, the home features newer flooring that creates a clean, modern feel, along with fully renovated bathrooms complete with newer vanities, mirrors, and toilets. Both the interior and exterior have been freshly painted a year ago, enhancing its move-in-ready appeal. Comfort is key with central air, an evaporative cooler, and newly installed solar shades on the west-facing front windows to help keep the home cool year-round. The kitchen has been upgraded with newer cabinet

Key facts

• 2 parking spots
• Community pool
• Built 1972

Property features AI

Finance

• Other: Senior community
• Financial info: Land lease in place (annual land lease amount applies)
• HOA & community: Association allows pets; Community amenities include pool, spa, clubhouse, guarded gate, sports courts, exercise room, golf and more

Exterior

• Parking: Tandem garage; 2 covered parking spaces
• Security: Gated community with guard
• Utilities: Property is on leased land (land lease); Available for lease / lease option
• Home design: Single-story residential mobile home; Has view of mountains
• Construction: Part of a community of 535 units
• Exterior features: Community pool; Community spa; Mountain view; Golf course within development; Gated community with guard; Clubhouse; Common RV parking; Sauna; Sport court; Tennis courts; Pickleball courts; Lake or pond; Exercise room

Interior

• Kitchen: Range/oven; Garbage disposal
• Bedrooms: Den/Office (additional flexible room)
• Flooring: Laminate floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central cooling
• Interior features: Den; Living room; Dining area; Covered patio; Garbage disposal; Range/oven
• Laundry & utility: Laundry inside; Laundry area; Gas or electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $110k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.7% 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 45% 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 $761 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask is 5138% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.50% ✓
• Cap rate: 21.66%
• Cash-on-cash: 54.89%
• DSCR: 3.44
• GRM: 3.3

CMA / ARV

• ARV (median comp): $80,048
• List price: $110,000
• Delta: 37.42%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
67 Paseo Laredo North	0.06mi	2/2.0	1,440 (0%)	1mo	$55,000	$38	96
35 N Paseo Laredo	0.02mi	2/2.0	1,440 (0%)	4mo	$157,000	$109	95
229 Calle Leandro	0.23mi	2/2.0	1,440 (0%)	3mo	$90,000	$63	87
126 Via Valverde	0.29mi	2/2.0	1,440 (0%)	2mo	$179,500	$125	84
153 Estrada Way	0.32mi	2/2.0	1,440 (0%)	1mo	$46,500	$32	84
409 S Paseo Laredo	0.59mi	2/2.0	1,440 (0%)	2mo	$58,000	$40	71
24 Mesa View Dr	0.60mi	2/2.0	1,440 (0%)	2mo	$68,000	$47	70
443 Paseo Perdido	0.66mi	2/2.0	1,440 (0%)	0mo	$65,000	$45	69
464 Cerritos Way	0.64mi	2/2.0	1,440 (0%)	2mo	$95,000	$66	68
257 Wolf	0.71mi	2/2.0	1,440 (0%)	3mo	$75,000	$52	64
447 Paseo Perdido	0.68mi	2/2.0	1,590 (+10%)	1mo	$55,000	$35	50
264 Wolf	0.66mi	2/2.0	1,248 (-13%)	4mo	$74,000	$59	44

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: 53.4%
• Equity multiple: 3.36×
• Total profit: $72,558
• Equity at exit: $16,401

10-year hold

• IRR: 58.7%
• Equity multiple: 6.89×
• Total profit: $181,407
• Equity at exit: $9,511

Cash invested: $30,800 (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: 3.3×

Monthly cashflow live

• Estimated rent: $2,746 high
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $1,409

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 44%

Sensitivity live

Price	-10% $1,485	-5% $1,447	+0% $1,409	+5% $1,371	+10% $1,333
Rent	-10% $1,192	-5% $1,300	+0% $1,409	+5% $1,517	+10% $1,626
Rate	-1.0pp $1,464	-0.5pp $1,437	base $1,409	+0.5pp $1,380	+1.0pp $1,351

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36040 Avenida de las Montanas Unit E Cathedral City, CA	2.0	2.0	1220	$3,200	$2.62	44d	1	0.13mi
159 Estrada Way Cathedral City, CA	3.0	2.0	1800	$2,850	$1.58	44d	1	0.32mi
152 Estrada Way #152 Cathedral City, CA	2.0	2.0	1500	$2,200	$1.47	44d	1	0.32mi
35615 Paseo Circulo E Cathedral City, CA	1.0	2.0	1029	$2,250	$2.19	44d	1	0.45mi
250 S Paseo Laredo Cathedral City, CA	2.0	2.0	1600	$1,800	$1.12	13d	1	0.48mi
251 S Paseo Laredo Cathedral City, CA	2.0	2.0	1440	$2,400	$1.67	44d	1	0.50mi
251 S Paseo Laredo Unit 251 Cathedral City, CA	1.0	2.0	1440	$2,550	$1.77	25d	1	0.50mi
69200 Nilda Dr Cathedral City, CA	3.0	2.0	1330	$2,495	$1.88	22d	1	0.50mi
68882 Calle Mula Cathedral City, CA	2.0	2.0	1714	$2,500	$1.46	21d	1	0.51mi
68859 Paseo Real Cathedral City, CA	2.0	2.0	1406	$3,960	$2.82	44d	1	0.61mi
68859 Paseo Real Cathedral City, CA	2.0	2.0	1406	$3,960	$2.82	15d	1	0.61mi
34750 Marcia Rd Unit 02 Cathedral City, CA	3.0	2.0	1325	$2,000	$1.51	18d	1	0.68mi
35200 Cathedral Canyon Dr Unit H64 Cathedral City, CA	2.0	2.0	1375	$2,500	$1.82	44d	1	0.83mi
69180 Victoria Dr #8 Cathedral City, CA	3.0	2.0	1230	$1,995	$1.62	3d	1	0.87mi
69646 Antonia Way Rancho Mirage, CA	2.0	2.0	966	$2,450	$2.54	19d	1	0.90mi
35200 Cathedral Canyon Dr Unit B10 Cathedral City, CA	2.0	2.0	1384	$2,600	$1.88	44d	1	0.91mi
69603 Heather Way Rancho Mirage, CA	3.0	2.0	1218	$2,300	$1.89	44d	1	0.93mi
34361 Denise Way Rancho Mirage, CA	3.0	2.0	1400	$2,800	$2.00	44d	1	0.95mi
8 Mission Ct Rancho Mirage, CA	2.0	2.0	1540	$2,500	$1.62	19d	1	0.96mi
35090 Mission Hills Dr Rancho Mirage, CA	2.0	2.0	1596	$3,950	$2.47	25d	1	0.98mi
68695 F St Cathedral City, CA	3.0	2.5	896	$2,500	$2.79	44d	1	0.98mi
35082 Mission Hills Dr Rancho Mirage, CA	2.0	2.5	1624	$3,250	$2.00	13d	1	0.98mi
38 Mission Ct Rancho Mirage, CA	3.0	3.0	1382	$3,500	$2.53	44d	1	0.99mi
69155 Dinah Shore Dr Cathedral City, CA	2.0	2.0	1100	$1,795	$1.63	44d	1	1.01mi
35 Mission Ct Rancho Mirage, CA	3.0	2.0	1382	$4,125	$2.98	44d	1	1.01mi
69155 Dinah Shore Dr Apt 20 Cathedral City, CA	2.0	2.0	1200	$2,050	$1.71	44d	1	1.02mi
70170 Sun Valley Dr Rancho Mirage, CA	2.0	2.0	1368	$3,800	$2.78	5d	1	1.03mi
35054 Mission Hills Dr Rancho Mirage, CA	2.0	2.0	1396	$2,549	$1.83	5d	1	1.05mi
34073 Emily Way Rancho Mirage, CA	2.0	2.0	966	$2,100	$2.17	18d	1	1.06mi
34073 Emily Way Rancho Mirage, CA	2.0	2.0	966	$2,100	$2.17	22d	1	1.06mi
34071 Denise Way Rancho Mirage, CA	3.0	2.0	1218	$2,599	$2.13	25d	1	1.07mi
68615 Paseo Soria Cathedral City, CA	2.0	2.0	1462	$3,500	$2.39	8d	1	1.08mi
37800 Da Vall Dr #12 Rancho Mirage, CA	2.0	2.0	1387	$2,400	$1.73	44d	1	1.09mi
34197 Calle Mora Cathedral City, CA	2.0	2.0	1171	$2,300	$1.96	22d	1	1.24mi
34197 Calle Mora Cathedral City, CA	2.0	2.0	1171	$2,300	$1.96	11d	1	1.24mi
34197 Calle Mora Cathedral City, CA	2.0	2.0	1171	$2,300	$1.96	14d	1	1.24mi
68368 Calle Leon Cathedral City, CA	2.0	2.0	1406	$3,790	$2.70	15d	1	1.34mi
68368 Calle Leon Cathedral City, CA	2.0	2.0	1406	$3,790	$2.70	44d	1	1.34mi
68153 Lakeland Dr Cathedral City, CA	2.0	2.0	1255	$2,500	$1.99	25d	1	1.37mi
33255 Date Palm Dr Cathedral City, CA	2.0	2.0	1050	$1,795	$1.71	44d	1	1.43mi

Listing history 19 events

1. 2026-06-18
   days on market $110,000 Active 44 DOM
2. 2026-06-17
   days on market $110,000 Active 43 DOM
3. 2026-06-16
   days on market $110,000 Active 42 DOM
4. 2026-06-15
   days on market $110,000 Active 41 DOM
5. 2026-06-13
   days on market $110,000 Active 39 DOM
6. 2026-06-13
   days on market $110,000 Active 38 DOM
7. 2026-06-09
   days on market $110,000 Active 35 DOM
8. 2026-06-08
   days on market $110,000 Active 34 DOM
9. 2026-06-07
   days on market $110,000 Active 33 DOM
10. 2026-06-04
    days on market $110,000 Active 30 DOM
11. 2026-06-03
    days on market $110,000 Active 29 DOM
12. 2026-06-02
    days on market $110,000 Active 28 DOM
13. 2026-06-01
    days on market $110,000 Active 27 DOM
14. 2026-05-31
    days on market $110,000 Active 26 DOM
15. 2026-05-06
    listed $2,100
16. 2026-05-05
    listed $110,000 Active 1816-char remark
17. 2025-06-23
    historical $1,900
18. 2025-06-03
    listed $1,900
19. 2025-06-01
    listed Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $32,948
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$2,636
• − Management: −$2,636
• − Depreciation: −$3,200
• Taxable income: $16,115
• Est. tax owed @ 24.0%: −$3,867
• After-tax cash flow: $13,039/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This beautifully updated 1972 Silvercrest home offers 2 bedrooms, 2 bathrooms, and a versatile den/office bonus room. The home is move-in ready with fresh paint, new flooring, and updated bathrooms.

Value-add opportunities

• Both Paint exterior and interior — Enhances curb appeal and interior aesthetics
• Both Replace solar shades with energy-efficient ones — Reduces energy consumption and enhances curb appeal
• Both Install smart home features — Improves convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Replace solar shades with energy-efficient ones — Reduces energy consumption and enhances curb appeal ↑
• Both Install smart home features — Improves convenience and marketability ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+5.3% since first listed

6 events — show timeline

• 2026-06-06 Price Changed $2,000 CLAW
• 2026-05-06 Listed for Rent $2,100 CLAW
• 2026-05-05 Listed $110,000 TheMLS
• 2025-06-23 Rental Removed $1,900 CLAW
• 2025-06-03 Listed for Rent $1,900 CLAW
• 2025-06-01 Listed — TheMLS