15500 Bubbling Wells Rd #165 · Garnet, CA 92240

$39,900

3 bd · 2.0 ba · 1,680 sqft · Manufactured public records · 7 Days on market

Built 1983 Est $64k · 38% under $877/mo HOA · 30% of rent ↓ 50% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.4/5.0
• Schools +2.7/10.0
• Livability +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience golf course living at it's finest in this tastefully remodeled 1 bed/1 bath home located in Hidden Springs Country Club, a 55+ active resort community. The stylish and cozy living area boasts gleaming wood laminate floors throughout, modern streamlined ceiling fans, and lots of natural light. The well appointed kitchen includes stainless appliances, upgraded cabinets with plentiful storage, quartz counter tops, pristine tile backsplash, and a coveted double oven Viking range. Sophisticated touches can be found in the bedroom and bath as well, including a separate laundry area. Situated in a quiet cul-de-sac, you will marvel at the scenic ambiance from your expansive deck. An over

Key facts

• Stainless appliances
• Natural light
• Wood laminate floors

Tags

• REMODELED HOME
• WOOD LAMINATE FLOORS
• NATURAL LIGHT
• STAINLESS APPLIANCES
• UPGRADED CABINETS
• QUARTZ COUNTER TOPS

Property features AI

Finance

• Other: Land is not included (land lease/park space); Rent control applies; Mobile home to remain with property; Manager approval required for purchase
• Financial info: Listing terms: cash or cash to new loan
• HOA & community: Homeowner dues (association fee) — fees include trash and sewer; Association amenities: clubhouse, fitness center, billiard room, card room, meeting room, sun deck, barbecue, pool, spa, sauna, pickleball, tennis, golf, lake/pond, controlled access; Senior park (Hidden Springs Country Club) with manager approval required; Complex of 317 units; RV access/parking

Exterior

• Parking: Carport attached; Total 3 parking spaces (2 covered carport spaces, 1 open space)
• Security: Gated; Controlled access; Resident manager
• Utilities: Water from water district; Shared septic
• Home design: Manufactured home; Single-wide mobile home; Faces north; One story; Updated/remodeled; Entry on main level
• Construction: Manufactured home construction; Foundation with pier jacks; Elastomeric roof; Built in 1983 (manufacture date)
• Exterior features: Covered patio; Deck(s); Shed; On golf course; Cul-de-sac location; Gated community; Resident manager on-site; Golf, hills and mountain views; Association pool and spa

Interior

• Kitchen: Microwave; Free-standing gas range/oven; Gas oven; Hood fan; Water line to refrigerator; Garbage disposal; Refrigerator; Dishwasher
• Bathrooms: One full bathroom with shower and tub
• Heating & cooling: Central heat; A/C; Ceiling fan
• Interior features: Paneled walls; Living room deck attached; Double pane windows; Main level entry
• Laundry & utility: Laundry area; Washer; Dryer; Central water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $40k).
• Cap rate 42.2% vs local median 5.8% in Garnet — 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 53/100 on livability (#971 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: cost of living D, schools F, crime 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 rising (+3.7%/yr); 515 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% 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 $2,956/mo this rent would consume 66% of the median local household income ($54k/yr) (locally 2095% 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 $276 of loan paydown is wiped out by about $1k 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 + 3.7% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y 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

• Watch-outs: flood insurance adds $122/mo; HOA is 30% of rent.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance); moderate wildfire risk; extreme-heat days projected 2→6/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $39,900

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 7.41% ✓
• Cap rate: 42.21%
• Cash-on-cash: 128.26%
• DSCR: 6.71
• GRM: 1.1

CMA / ARV

• ARV (on-the-fly): $63,840
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15500 Bubbling Wells Rd #253	0.13mi	2/2.0 (-1)	1,610 (-4%)	6mo	$48,000	$30	77
15500 Bubbling Wells Rd #275	0.13mi	3/2.0	1,856 (+10%)	3mo	$65,000	$35	74
15500 Bubbling Wells Rd #277	0.13mi	2/2.0 (-1)	1,536 (-9%)	1mo	$55,000	$36	73
15500 Bubbling Wells Rd #265	0.00mi	2/2.0 (-1)	1,440 (-14%)	3mo	$45,000	$31	69
67644 San Andreas St	0.36mi	3/2.0	1,586 (-6%)	7mo	$275,000	$173	68
15500 Bubbling Wells Rd #300	0.00mi	2/2.0 (-1)	1,440 (-14%)	7mo	$55,000	$38	65
16650 Avenida Rambla	0.54mi	4/2.0 (+1)	1,661 (-1%)	4mo	$330,000	$199	64
15500 Bubbling Wells Rd #237	0.00mi	2/2.0 (-1)	1,440 (-14%)	13mo	$40,000	$28	60
15500 Bubbling Wells Rd #104	0.13mi	2/2.0 (-1)	1,440 (-14%)	15mo	$125,000	$87	52
15500 Bubbling Wells Rd #167	0.13mi	2/2.0 (-1)	1,440 (-14%)	19mo	$129,500	$90	49

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 · 3.66% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.77×
• Total profit: $64,425
• Equity at exit: $5,949

10-year hold

• IRR: —
• Equity multiple: 14.86×
• Total profit: $154,864
• Equity at exit: $3,450

Cash invested: $11,172 (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 92240

• Home prices YoY: -19.6%
• Rents YoY: 3.7%
• Active inventory: 515
• Price-to-rent: 1.1×

Monthly cashflow live

• Estimated rent: $2,956 high
• Mortgage (P&I): −$209
• Tax from tax record: −$38 /mo · $456/yr
• Insurance: −$17
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$877
• Vacancy / Maint / Mgmt: −$621
• Net cashflow: $1,072

Break-even live

Break-even rent $1,599

Max offer price $39,900

Occupancy floor 59%

Sensitivity live

Price	-10% $1,094	-5% $1,083	+0% $1,072	+5% $1,061	+10% $1,049
Rent	-10% $838	-5% $955	+0% $1,072	+5% $1,189	+10% $1,305
Rate	-1.0pp $1,092	-0.5pp $1,082	base $1,072	+0.5pp $1,061	+1.0pp $1,051

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15490 Avenue Rambla Unit NA Desert Hot Springs, CA	3.0	2.0	1088	$2,600	$2.39	25d	1	0.19mi
15490 Avenida Rambla Desert Hot Springs, CA	3.0	2.0	1088	$2,600	$2.39	44d	1	0.19mi
16087 Bubbling Wells Rd Desert Hot Springs, CA	3.0	2.0	1850	$5,000	$2.70	44d	1	0.27mi
15123 Avenida Ramada Desert Hot Springs, CA	4.0	2.0	1745	$3,200	$1.83	18d	1	0.59mi
16111 Avenida Ramada Desert Hot Springs, CA	4.0	2.0	1773	$3,000	$1.69	44d	1	0.59mi
67968 Whitney Ct Desert Hot Springs, CA	4.0	2.0	1895	$2,600	$1.37	3d	1	0.87mi
15300 Palm Dr Desert Hot Springs, CA	3.0	2.0	1458	$2,800	$1.92	44d	1	0.99mi
13539 Quinta Way Desert Hot Springs, CA	4.0	2.0	1397	$3,500	$2.51	19d	1	1.10mi
13437 Cuando Way Desert Hot Springs, CA	4.0	2.5	1853	$3,200	$1.73	44d	1	1.12mi
68160 Calle Blanco Desert Hot Springs, CA	3.0	2.0	1331	$2,500	$1.88	44d	1	1.26mi
13235 Mountain View Rd Unit 2 Desert Hot Springs, CA	3.0	2.0	1400	$2,400	$1.71	44d	1	1.28mi
68271 Calle Cerrito Desert Hot Springs, CA	3.0	2.0	1954	$2,500	$1.28	11d	1	1.28mi
13553 Avenida La Vis Desert Hot Springs, CA	3.0	2.0	1625	$2,495	$1.54	44d	1	1.28mi
14777 Palm Dr Desert Hot Springs, CA	4.0	2.0	1573	$1,995	$1.27	44d	1	1.30mi
13581 Mountain Top Dr Desert Hot Springs, CA	3.0	2.0	2006	$3,000	$1.50	44d	1	1.36mi
12920 Maui Way Desert Hot Springs, CA	4.0	2.0	1570	$3,100	$1.97	44d	1	1.37mi
66629 Joseph Way Unit B Desert Hot Springs, CA	4.0	2.0	1200	$2,900	$2.42	25d	1	1.39mi

HOA detail

• Monthly dues: $877 · $10,524/yr

Listing history 7 events

1. 2026-06-18
   days on market $39,900 Active 7 DOM
2. 2026-06-17
   days on market $39,900 Active 6 DOM
3. 2026-06-16
   days on market $39,900 Active 5 DOM
4. 2026-06-15
   days on market $39,900 Active 4 DOM
5. 2026-06-13
   days on market $39,900 Active 2 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $39,900 Active 1 DOM

ⓘ 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: $456 · $38/mo
• Projected year-2 tax: $456 · $38/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AO · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 2 d/yr ≥111°F today · 6 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: $35,468
• − Mortgage interest: −$2,235
• − Property taxes: −$456
• − Insurance: −$1,667
• − Repairs & maintenance: −$2,837
• − Management: −$2,837
• − HOA: −$10,524
• − Depreciation: −$1,161
• Taxable income: $13,750
• Est. tax owed @ 24.0%: −$3,300
• After-tax cash flow: $9,562/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 — Garnet

• Score: 53/100
• State rank: #971
• US rank: #24574

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Garnet, CA
• County: Riverside County · 2,287,001 people
• City population: 41,615
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 41,615
• Household income: $54,023
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 2095.0

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: Majority Hispanic (64%)
• Race & ethnicity: Hispanic / Latino 64% Two or more races 27% White 23% Black 7% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 53%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 27% · Canada, Vietnam
• Languages at home: 47% English-only · Spanish 50% Russian/Polish/Slavic 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: ▼ -102.10%
• Current HPI: 418.4691
• Rent YoY: ▲ 3.66%
• 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

-50.1% since first listed

8 events — show timeline

• 2026-06-09 Listed $39,900 TheMLS
• 2024-11-02 Relisted — CRMLS
• 2024-08-23 Price Changed $79,000 CRMLS
• 2024-08-15 Price Changed $79,900 CRMLS
• 2024-08-08 Price Changed $79,990 CRMLS
• 2024-06-21 Listed $79,999 CRMLS
• 2024-06-21 Price Changed $79,999 CRMLS
• 2024-06-13 Coming Soon — CRMLS

Property tax history

+3.7%/yr

Latest (2025): $456 · -2.1% YoY. Source: county tax records.