Duplex with Separate Living
New
For Sale
$580,000
33661 Sky Blue Water Trl, Cathedral City, CA 92234
Residential Income, Colonial, Cathedral City, CA
Property Size1,728 SF
Lot Size0.19 Acres
Price / SF$335.65
Days on Market6
Property Features for 33661 Sky Blue Water Trl
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R204M
Bedrooms
4
Bathrooms
6
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 6, Bedroom 4, Bathroom 5, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 2
Parking
3
Parking features
Driveway
Appliances
Cooktop - Gas
Directions
From I-10 Take Gene Autry south to Dinah Shore Drive make a left then go tp Sky Blue Water take a left to property.
Subdivision
Cathedral City South
Standard status
Active
APN
680-432-007
Size
1,728 SF
Lot size
0.19 Acres
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1986
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic
Architectural style
Colonial
Listing Agency:
HomeSmart
(760) 844-7500
Listed By:
Miguel Briones · License #01705617
(760) 969-8401
Added: Sep 19
Changed: Sep 22
Last Checked: Sep 24 at 8:06AM
MLS# 26990583PS
Copyright © 2026 Imperial County Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Colonial-style duplex contains 1,728 square feet on a 0.19-acre lot and was built in 1986. The property includes two separate living units, each arranged with living space, a kitchen, bedrooms, and bathrooms. Ceramic tile flooring, central heating, central air, a gas cooktop, and public water service are among the recorded features. Driveway parking is also provided.
Located at 33661 Sky Blue Water Trail in Cathedral City, the property offers access to shopping, dining, entertainment, golf, and other Coachella Valley attractions. The R204M zoning designation and two-unit configuration support its residential income property profile.
Located at 33661 Sky Blue Water Trail in Cathedral City, the property offers access to shopping, dining, entertainment, golf, and other Coachella Valley attractions. The R204M zoning designation and two-unit configuration support its residential income property profile.
Key Highlights
- Two separate residential living units
- 1,728 square feet on a 0.19‑acre lot
- Colonial architectural style; built in 1986
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,361
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$607,220
$607.2K
Cap Rate 7%
$433,729
$433.7K
Cap Rate 9%
$337,344
$337.3K
Market Conditions
NOI Build-Up for 1,728 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$44.2K $25.56/SF
− Vacancy
−$795 −$0.46/SF
EGI
$43.4K $25.10/SF
− OpEx
−$13.0K −$7.53/SF
NOI
$30.4K $17.57/SF
Area
Riverside County, CA
Vacancy
1.80%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$607,220
Cap Rate 7%
$433,729
Cap Rate 9%
$337,344
Alternative Uses
Best Use
Multifamily LT 5
$433.7K
$379.5K – $506.0K
NOI $30,361 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$399.6K
$349.6K – $466.2K
NOI $27,970 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$517.7K
$453.0K – $604.0K
NOI $36,238 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
Explore this area
Business Placement
Demographics for 92234, CA
51,509
Population
23,114
Households
2.2
Avg Household Size
42
Median Age
26%
College-Educated
81%
High-School Grad
14.8 sq mi
ZIP Area
3,480
Density / Sq Mi
$67,031
Median Household Income
$34,895
Median Earnings
$1,554
Median Rent
$420,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units provide flexible occupancy options with central heating, central air, and driveway parking.
Where is this duplex located?
The property is located at 33661 Sky Blue Water Trl Cathedral City, CA.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Two separate residential living units; 1,728 square feet on a 0.19‑acre lot; Colonial architectural style; built in 1986
