262 Costa Mesa Dr · Palm Springs, CA 92264

$139,900

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 135 Days on market

Built 1970 $97/sqft · 30% above area Est $108k · 30% 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
• Livability +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 262 Costa Mesa - a large, fully furnished double-wide in a secluded, quiet area of fun & funky Safari Park! With 1,440 square feet of living space, this home has been well cared for and meticulously maintained. It features two bedrooms & two en-suite baths, a large living room, a formal dining room w/ built-ins, family room / den area, updated kitchen w/ all appliances (including a brand new dishwasher), laundry room with washer & dryer, plenty of closet space, sliding glass doors to a private, fenced patio & back yard, two-car carport, two storage sheds (one functions as a workshop), central heat & air conditioning, dual pane windows, insulated exterior walls. .. There's even an in-ground, flowing stream! And talk about affordability! The lot rent is well below the average for the Coachella Valley - at just $754.75 per month ($799.28 including water, sewer & trash). Safari Park is a 55+ community. Park approval required for residency. Sorry, Safari Park does not allow rentals. This one is priced to move. Schedule your tour today!

Key facts

• Central heat
• Secluded area
• Private fenced patio

Tags

• SECLUDED AREA
• PRIVATE FENCED PATIO
• IN-GROUND FLOWING STREAM
• TWO STORAGE SHEDS
• UPDATED KITCHEN
• CENTRAL HEAT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.7% 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 soft (-0.4%/yr); 492 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; solid renter incomes; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• At $3,203/mo this rent would consume 49% of the median local household income ($78k/yr) (locally 1215% 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 $967 of loan paydown is wiped out by about $4k 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 + 0.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y 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 8→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 2.29% ✓
• Cap rate: 19.70%
• Cash-on-cash: 47.89%
• DSCR: 3.13
• GRM: 3.6

CMA / ARV

• ARV (median comp): $107,500
• List price: $139,900
• Delta: 30.14%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
137 Camarillo St	0.09mi	2/2.0	1,390 (-4%)	4mo	$90,000	$65	87
236 Del Mar	0.03mi	3/2.0 (+1)	1,500 (+4%)	13mo	$147,000	$98	76
190 Mercury St	0.20mi	3/2.0 (+1)	1,440 (0%)	16mo	$175,000	$122	72
41 Santa Ana St	0.13mi	2/2.0	1,248 (-13%)	9mo	$130,000	$104	64
186 Vega	0.21mi	2/3.0	1,320 (-8%)	18mo	$80,000	$61	57

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 41.9%
• Equity multiple: 2.72×
• Total profit: $67,558
• Equity at exit: $20,860

10-year hold

• IRR: 46.7%
• Equity multiple: 4.85×
• Total profit: $150,958
• Equity at exit: $12,096

Cash invested: $39,172 (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 92264

• Rents YoY: -0.4%
• Active inventory: 492
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $3,203 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$673
• Net cashflow: $1,563

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 46%

Sensitivity live

Price	-10% $1,660	-5% $1,612	+0% $1,563	+5% $1,515	+10% $1,467
Rent	-10% $1,310	-5% $1,437	+0% $1,563	+5% $1,690	+10% $1,816
Rate	-1.0pp $1,634	-0.5pp $1,599	base $1,563	+0.5pp $1,527	+1.0pp $1,490

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2120 Southridge Dr Palm Springs, CA	2.0	2.0	1600	$3,000	$1.88	45d	1	0.34mi
2391 Mira Monte Cir W Palm Springs, CA	2.0	2.0	1180	$2,850	$2.42	44d	1	0.40mi
2350 Miramonte Cir E Unit E Palm Springs, CA	2.0	2.0	1241	$4,500	$3.63	44d	1	0.44mi
2350 Miramonte Cir E Unit A Palm Springs, CA	2.0	2.0	1264	$3,000	$2.37	25d	1	0.44mi
449 Desert Lakes Dr Palm Springs, CA	2.0	2.0	1778	$3,000	$1.69	25d	1	0.48mi
2550 Miramonte Cir E Unit C Palm Springs, CA	3.0	2.5	1397	$2,730	$1.95	25d	1	0.48mi
24 Desert Lakes Dr Palm Springs, CA	2.0	2.0	1545	$9,500	$6.15	44d	1	0.51mi
177 Westlake Dr Palm Springs, CA	2.0	2.0	1545	$12,500	$8.09	44d	1	0.57mi
2601 S Broadmoor Dr Palm Springs, CA	2.0	2.0	1178	$2,050	$1.74	44d	2	0.63mi
3545 Ridgeview Cir Palm Springs, CA	3.0	2.5	1783	$9,750	$5.47	25d	1	0.63mi
3545 Ridgeview Cir Palm Springs, CA	3.0	2.5	1783	$9,750	$5.47	3d	1	0.63mi
3545 Ridgeview Cir Palm Springs, CA	3.0	3.0	1783	$5,675	$3.18	44d	1	0.63mi
272 Desert Lakes Dr Palm Springs, CA	2.0	2.0	1545	$7,000	$4.53	44d	1	0.63mi
70 Lakeview Dr Palm Springs, CA	2.0	2.0	1545	$9,000	$5.83	22d	1	0.64mi
2441 S Birdie Way Unit E Palm Springs, CA	2.0	2.0	1438	$3,250	$2.26	25d	1	0.67mi
4850 N Winners Cir Unit A Palm Springs, CA	2.0	2.0	1275	$2,700	$2.12	17d	1	0.70mi
1700 S Araby Dr Palm Springs, CA	1.0–2.0	1.0–2.0	871	$2,682	$3.08	0d	5	0.72mi
306 Desert Lakes Dr Palm Springs, CA	2.0	2.0	1545	$8,000	$5.18	44d	1	0.73mi
320 Desert Lakes Dr Palm Springs, CA	2.0	2.0	1545	$8,500	$5.50	44d	1	0.76mi
2104 S Birdie Way Palm Springs, CA	3.0	2.0	1456	$3,600	$2.47	44d	1	0.77mi
3180 E Escoba Dr Palm Springs, CA	3.0	2.0	1532	$7,500	$4.90	0d	1	0.78mi
5225 E Waverly Dr #66 Palm Springs, CA	1.0	2.0	887	$3,600	$4.06	44d	1	0.79mi
2716 Anza Trl Palm Springs, CA	3.0	2.0	1508	$4,950	$3.28	44d	1	0.79mi
5301 E Waverly Dr #192 Palm Springs, CA	2.0	2.0	979	$2,300	$2.35	25d	1	0.91mi
5301 E Waverly Dr #120 Palm Springs, CA	1.0	2.0	887	$2,800	$3.16	44d	1	0.91mi
3113 E San Martin Cir Palm Springs, CA	3.0	2.0	1737	$3,950	$2.27	44d	1	0.91mi
1816 Pintura Cir W Palm Springs, CA	2.0	3.0	1650	$3,145	$1.91	44d	1	0.92mi
5301 E Waverly Dr Palm Springs, CA	1.0–2.0	2.0	933	$2,300	$2.47	15d	2	0.99mi
5301 E Waverly Dr Palm Springs, CA	1.0–2.0	2.0	933	$2,300	$2.47	19d	2	0.99mi
2800 Lawrence Crossley Rd Palm Springs, CA	2.0	2.0	905	$2,022	$2.23	44d	1	1.08mi
2700 Lawrence Crossley Rd Unit B15 Palm Springs, CA	2.0	2.0	885	$1,950	$2.20	44d	1	1.10mi
2700 Lawrence Crossley Rd #18 Palm Springs, CA	2.0	2.0	885	$2,050	$2.32	19d	1	1.10mi
5314 Los Coyotes Dr Palm Springs, CA	3.0	3.0	1550	$2,600	$1.68	20d	1	1.11mi
2420 Los Coyotes Dr Palm Springs, CA	2.0	3.0	1608	$2,600	$1.62	44d	1	1.27mi
26 Pueblo Vista Dr Palm Springs, CA	3.0	2.0	1487	$3,200	$2.15	44d	1	1.31mi
2701 E Mesquite Ave Palm Springs, CA	2.0	2.0	1175	$3,435	$2.92	21d	4	1.32mi
2701 E Mesquite Ave Palm Springs, CA	2.0	2.0	1175	$2,898	$2.47	15d	4	1.32mi
2701 E Mesquite Ave Palm Springs, CA	2.0	2.0	1175	$2,982	$2.54	25d	5	1.32mi
2700 E Mesquite Ave Palm Springs, CA	2.0	2.0	1175	$3,025	$2.57	44d	2	1.35mi
5951 Montecito Dr #5 Palm Springs, CA	3.0	2.5	1551	$2,300	$1.48	44d	1	1.40mi

Listing history 17 events

1. 2026-06-18
   days on market $139,900 Active 135 DOM
2. 2026-06-17
   days on market $139,900 Active 134 DOM
3. 2026-06-16
   days on market $139,900 Active 133 DOM
4. 2026-06-15
   days on market $139,900 Active 132 DOM
5. 2026-06-13
   days on market $139,900 Active 130 DOM
6. 2026-06-13
   days on market $139,900 Active 129 DOM
7. 2026-06-09
   days on market $139,900 Active 126 DOM
8. 2026-06-08
   days on market $139,900 Active 125 DOM
9. 2026-06-07
   days on market $139,900 Active 124 DOM
10. 2026-06-04
    days on market $139,900 Active 121 DOM
11. 2026-06-03
    days on market $139,900 Active 120 DOM
12. 2026-06-02
    days on market $139,900 Active 119 DOM
13. 2026-06-01
    days on market $139,900 Active 118 DOM
14. 2026-05-31
    days on market $139,900 Active 117 DOM
15. 2026-02-03
    listed $139,900 Active 1094-char remark

    Show marketing remark (1094 chars)

    Welcome to 262 Costa Mesa - a large, fully furnished double-wide in a secluded, quiet area of fun & funky Safari Park! With 1,440 square feet of living space, this home has been well cared for and meticulously maintained. It features two bedrooms & two en-suite baths, a large living room, a formal dining room w/ built-ins, family room / den area, updated kitchen w/ all appliances (including a brand new dishwasher), laundry room with washer & dryer, plenty of closet space, sliding glass doors to a private, fenced patio & back yard, two-car carport, two storage sheds (one functions as a workshop), central heat & air conditioning, dual pane windows, insulated exterior walls. .. There's even an in-ground, flowing stream! And talk about affordability! The lot rent is well below the average for the Coachella Valley - at just $754.75 per month ($799.28 including water, sewer & trash). Safari Park is a 55+ community. Park approval required for residency. Sorry, Safari Park does not allow rentals. This one is priced to move. Schedule your tour today!

16. 2001-06-01
    historical
17. 2001-05-02
    listed $26,900

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 8 d/yr ≥112°F today · 24 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: $38,432
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$3,075
• − Management: −$3,075
• − Depreciation: −$4,070
• Taxable income: $17,578
• Est. tax owed @ 24.0%: −$4,219
• After-tax cash flow: $14,540/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): 19,899
• Household income: $77,688
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1215.0

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 20% Two or more races 12% Asian 6% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Lithuanian 4% Romanian 3% Slovak 3%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 81% English-only · Spanish 13% Tagalog/Filipino 2% 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: ▼ -489.04%
• Current HPI: 357.0969
• Rent YoY: ▼ -0.43%
• 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

+420.1% since first listed

3 events — show timeline

• 2026-02-03 Listed $139,900 TheMLS
• 2001-06-01 Listing Removed — GPSMLS
• 2001-05-02 Listed $26,900 GPSMLS