22840 Sterling Ave #151 · Palm Springs, CA 92262

$228,000

2 bd · 2.0 ba · 1,586 sqft · Manufactured public records · 114 Days on market

Built 2004 $144/sqft · 52% above area $950/mo HOA · 34% of rent

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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 +10.3/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +3.3/5.0
• DSCR +3.0/10.0
• 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

Charming 3 bedroom, 2 bathroom 2004 doublewide mobile home in Sun Canyon Estates, offering comfortable low maintenance living with room to spread out. Spacious open concept living and dining areas. Enjoy tranquil mountain views from your lot and take advantage of the covered carport that provides convenient shade parking. This welcoming place is set in a quiet neighborhood, creating a peaceful retreat while still being close to everyday conveniences.

Key facts

• Covered carport
• Quiet neighborhood
• Mountain views

Tags

• MOUNTAIN VIEWS
• COVERED CARPORT
• QUIET NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $228k.

Deal economics

• At list price, monthly cash flow is $-249 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (19.3% below list).
• Meets the 1% rule at list price ($3k rent vs $228k).
• Recommended offer: $184k (19.3% below list) — sets the bar for cash-flow.
• Cap rate 5.6% 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: crime F, cost of living F, health & safety 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.
• Zoned schools: Vista Del Monte Elementary (482 students, 96% FRL); Raymond Cree Middle (708 students, 98% FRL); Palm Springs High (math 30% / reading 51%, grade F, #508 of 1,170 statewide, top 44%, 1,584 students, 97% FRL) — zoned schools average 97% FRL vs 73% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 660 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• At $2,777/mo this rent would consume 47% 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 $7k 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 114 days — a 9% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $104k; list at $228k implies a 119% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; HOA is 34% of rent.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,984 (19.3% 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. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.22% ✓
• Cap rate: 5.64%
• Cash-on-cash: -2.33%
• DSCR: 0.90
• GRM: 6.8

CMA / ARV

• ARV (median comp): $150,454
• List price: $228,000
• Delta: 51.54%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22840 Sterling #110 Ave #110	0.00mi	3/2.0 (+1)	1,512 (-5%)	8mo	$155,000	$103	80
22840 Sterling Ave #25	0.00mi	3/2.0 (+1)	1,586 (0%)	22mo	$185,000	$117	76
22840 Sterling Ave #39	0.00mi	3/2.0 (+1)	1,567 (-1%)	22mo	$185,000	$118	74
22840 Sterling Ave #202	0.10mi	3/2.0 (+1)	1,500 (-5%)	14mo	$169,000	$113	70
22840 Sterling Dr. Spc 24	0.10mi	3/2.0 (+1)	1,519 (-4%)	17mo	$135,000	$89	69
22840 Sterling Ave #183	0.00mi	3/2.0 (+1)	1,500 (-5%)	20mo	$180,000	$120	69
128 Calle Del Callado	0.13mi	3/2.5 (+1)	1,782 (+12%)	4mo	$395,000	$222	62

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 · 0.46% rent growth · sell at horizon

5-year hold

• IRR: -28.7%
• Equity multiple: 0.07×
• Total profit: $-59,163
• Equity at exit: $33,996

10-year hold

• IRR: -55.7%
• Equity multiple: -0.51×
• Total profit: $-96,613
• Equity at exit: $19,713

Cash invested: $63,840 (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: 660
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,777 medium
• Mortgage (P&I): −$1,196
• Tax from tax record: −$77 /mo · $929/yr
• Insurance: −$95
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$950
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $-249

Break-even live

Break-even rent $3,093

Max offer price $183,984

Occupancy floor —

Sensitivity live

Price	-10% $-120	-5% $-185	+0% $-249	+5% $-314	+10% $-378
Rent	-10% $-469	-5% $-359	+0% $-249	+5% $-139	+10% $-30
Rate	-1.0pp $-134	-0.5pp $-191	base $-249	+0.5pp $-308	+1.0pp $-368

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: $57,000
• Closing costs: $6,840
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22840 Sterling Ave #147 Palm Springs, CA	3.0	2.0	1188	$2,650	$2.23	0d	1	0.03mi

HOA detail

• Monthly dues: $950 · $11,400/yr

Listing history 14 events

1. 2026-06-09
   days on market $228,000 Active 114 DOM
2. 2026-06-08
   days on market $228,000 Active 113 DOM
3. 2026-06-07
   days on market $228,000 Active 112 DOM
4. 2026-06-04
   days on market $228,000 Active 109 DOM
5. 2026-06-03
   days on market $228,000 Active 108 DOM
6. 2026-06-02
   days on market $228,000 Active 107 DOM
7. 2026-06-01
   days on market $228,000 Active 106 DOM
8. 2026-05-31
   days on market $228,000 Active 105 DOM
9. 2026-02-15
   listed $228,000 Active 454-char remark

   Show marketing remark (454 chars)

   Charming 3 bedroom, 2 bathroom 2004 doublewide mobile home in Sun Canyon Estates, offering comfortable low maintenance living with room to spread out. Spacious open concept living and dining areas. Enjoy tranquil mountain views from your lot and take advantage of the covered carport that provides convenient shade parking. This welcoming place is set in a quiet neighborhood, creating a peaceful retreat while still being close to everyday conveniences.

10. 2018-04-23
    soldstatus $104,000 Closed 1051-char remark

    Show marketing remark (1051 chars)

    What a combination! Country quiet, city convenience & plenty of roomy comfort wrapped up in one sweet - and affordable - property! This fully renovated manufactured home in Sun Canyon Estates has some of the most spectacular mountains right out your front door & whether your living leans more to indoors or out, this will not disappoint! From the expansive & welcoming front porch through the casual & open home to the large partially covered patio, nearly everything in this home has been beautifully updated & offers spaciousness at every turn. Open floor plan - living room to the generous kitchen & dining, convenient family room, master suite complete w/ separate shower & garden tub. Handsome laminate flooring, renovated kitchen w/ white quartz counters, great room fireplace & the fun just continues. The community also offers a clubhouse for when the occasion calls for even more room, plus workout room & pool. Space rent $600 per mo & potential lending info in documents section.

11. 2018-04-23
    soldstatus $104,000 Closed 1051-char remark

    Show marketing remark (1051 chars)

    What a combination! Country quiet, city convenience & plenty of roomy comfort wrapped up in one sweet - and affordable - property! This fully renovated manufactured home in Sun Canyon Estates has some of the most spectacular mountains right out your front door & whether your living leans more to indoors or out, this will not disappoint! From the expansive & welcoming front porch through the casual & open home to the large partially covered patio, nearly everything in this home has been beautifully updated & offers spaciousness at every turn. Open floor plan - living room to the generous kitchen & dining, convenient family room, master suite complete w/ separate shower & garden tub. Handsome laminate flooring, renovated kitchen w/ white quartz counters, great room fireplace & the fun just continues. The community also offers a clubhouse for when the occasion calls for even more room, plus workout room & pool. Space rent $600 per mo & potential lending info in documents section.

12. 2018-04-20
    status Pending 1051-char remark

    Show marketing remark (1051 chars)

    What a combination! Country quiet, city convenience & plenty of roomy comfort wrapped up in one sweet - and affordable - property! This fully renovated manufactured home in Sun Canyon Estates has some of the most spectacular mountains right out your front door & whether your living leans more to indoors or out, this will not disappoint! From the expansive & welcoming front porch through the casual & open home to the large partially covered patio, nearly everything in this home has been beautifully updated & offers spaciousness at every turn. Open floor plan - living room to the generous kitchen & dining, convenient family room, master suite complete w/ separate shower & garden tub. Handsome laminate flooring, renovated kitchen w/ white quartz counters, great room fireplace & the fun just continues. The community also offers a clubhouse for when the occasion calls for even more room, plus workout room & pool. Space rent $600 per mo & potential lending info in documents section.

13. 2018-03-18
    status Backup Offers Accepted 1051-char remark

    Show marketing remark (1051 chars)

    What a combination! Country quiet, city convenience & plenty of roomy comfort wrapped up in one sweet - and affordable - property! This fully renovated manufactured home in Sun Canyon Estates has some of the most spectacular mountains right out your front door & whether your living leans more to indoors or out, this will not disappoint! From the expansive & welcoming front porch through the casual & open home to the large partially covered patio, nearly everything in this home has been beautifully updated & offers spaciousness at every turn. Open floor plan - living room to the generous kitchen & dining, convenient family room, master suite complete w/ separate shower & garden tub. Handsome laminate flooring, renovated kitchen w/ white quartz counters, great room fireplace & the fun just continues. The community also offers a clubhouse for when the occasion calls for even more room, plus workout room & pool. Space rent $600 per mo & potential lending info in documents section.

14. 2018-01-31
    listed $115,000 Active 1051-char remark

    Show marketing remark (1051 chars)

    What a combination! Country quiet, city convenience & plenty of roomy comfort wrapped up in one sweet - and affordable - property! This fully renovated manufactured home in Sun Canyon Estates has some of the most spectacular mountains right out your front door & whether your living leans more to indoors or out, this will not disappoint! From the expansive & welcoming front porch through the casual & open home to the large partially covered patio, nearly everything in this home has been beautifully updated & offers spaciousness at every turn. Open floor plan - living room to the generous kitchen & dining, convenient family room, master suite complete w/ separate shower & garden tub. Handsome laminate flooring, renovated kitchen w/ white quartz counters, great room fireplace & the fun just continues. The community also offers a clubhouse for when the occasion calls for even more room, plus workout room & pool. Space rent $600 per mo & potential lending info in documents section.

ⓘ 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: $929 · $77/mo
• Projected year-2 tax: $1,733 · $144/mo
• Expected delta: +$803/yr (+$67/mo · 86.4%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,329
• − Mortgage interest: −$12,772
• − Property taxes: −$929
• − Insurance: −$2,642
• − Repairs & maintenance: −$2,666
• − Management: −$2,666
• − HOA: −$11,400
• − Depreciation: −$6,633
• Taxable loss: −$6,380
• Est. tax savings @ 24.0%: +$1,531
• After-tax cash flow: $-1,459/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

• 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

+98.3% since first listed

6 events — show timeline

• 2026-02-15 Listed $228,000 GPSMLS
• 2018-04-23 Sold (MLS) $104,000 GPSMLS
• 2018-04-23 Sold (MLS) $104,000 GPSMLS
• 2018-04-20 Pending — GPSMLS
• 2018-03-18 Pending — GPSMLS
• 2018-01-31 Listed $115,000 GPSMLS

Property tax history

-2.1%/yr

Latest (2025): $929 · -1.9% YoY. Source: county tax records.