15300 Palm Dr #18 · Desert Hot Springs, CA 92240

$192,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured · 78 Days on market

Built 1988 Good condition 4,792 sqft lot $143/sqft · 12% below area Est $217k · 12% under $329/mo HOA · 12% of rent

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Why this score? — see what drove the B- 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 +25.2/30.0
• ARV discount +12.8/15.0
• 1% rule +8.7/10.0
• DSCR +8.3/10.0
• Condition / age +3.8/5.0
• Rent growth +3.4/5.0
• Schools +2.7/10.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 1988 3bed, 2bath almost 1400 sq ft home (offered furnished) is situated on a prime corner lot with great mountain views from front porch (no 433A on file but seller will cooperate for 433A if buyer is seeking financing and lender most likely will require). One owner only since inception (1988) for this property. They come use the property 6-12+ times a year, so it's in very good move-in condition even though it has not been updated much (it is priced accordingly). Don't miss out on this opportunity to be part of the premier 55+ fee simple (you own the land/low HOA of $300/mo) manuf home community of Vista Montana. Guard Gated (Mon thru Sat 9a-3p). There's a resort feel to the community, beautiful clubhouse with large TV lounge, exercise room, meeting room and large kitchen for private parties, gorgeous main pool/spa, on-site management, greenbelt, satellite pool/spa, social activities, card play and billiards rooms. .. even a doggie park. Nice easy flow floor plan from entry to LR to Kitchen to the 2 guest bedrooms on one side of the house and primary bedroom on other. Master bathroom includes soaking tub, walk-in shower. Guest bathroom has tub-shower combo. Home comes with all appliances, furnishings are included other than LR TV. 2 car tandem carport with nice wooden shed. Come see, Make offer. Seller is MOTIVATED.

Key facts

• Main pool
• Clubhouse
• Guard gated

Tags

• MOUNTAIN VIEWS
• CORNER LOT
• GUARD GATED
• CLUBHOUSE
• MAIN POOL
• DOGGIE PARK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $192k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $192k).
• Recommended offer: $180k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 4.0% in Desert Hot 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 49/100 on livability (#1,149 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing B+; Watch: crime D+, schools F, amenities 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; 18 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 61% 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 $2,640/mo this rent would consume 59% 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 $1k of loan paydown is wiped out by about $6k 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 $54k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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: major wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,480 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
6. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 1.37% ✓
• Cap rate: 8.98%
• Cash-on-cash: 9.59%
• DSCR: 1.43
• GRM: 6.1

CMA / ARV

• ARV (median comp): $217,373
• List price: $192,000
• Delta: -11.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15300 Palm Dr #255	0.08mi	3/2.0	1,345 (+0%)	2mo	$203,500	$151	94
15300 Palm Dr #119	0.06mi	3/2.0	1,344 (0%)	4mo	$220,000	$164	94
15300 Palm Dr #161	0.16mi	2/2.0 (-1)	1,333 (-1%)	1mo	$233,000	$175	85
15300 Palm Dr #30	0.03mi	3/2.0	1,248 (-7%)	3mo	$200,000	$160	84
15300 Palm Dr #138	0.13mi	2/2.0 (-1)	1,323 (-2%)	3mo	$237,000	$179	83
15300 Palm Dr #209	0.19mi	2/2.0 (-1)	1,335 (-1%)	3mo	$161,000	$121	83
15300 Palm Dr #35	0.08mi	2/2.0 (-1)	1,430 (+6%)	5mo	$105,000	$73	77
15300 Palm Dr #22	0.13mi	2/2.0 (-1)	1,272 (-5%)	5mo	$219,000	$172	76
15300 Palm Dr #42	0.11mi	2/2.0 (-1)	1,178 (-12%)	2mo	$230,000	$195	68
15300 Palm Dr #146	0.08mi	3/2.0	1,539 (+14%)	5mo	$218,000	$142	68
14777 Palm Dr #186	0.42mi	3/2.0	1,440 (+7%)	2mo	$245,000	$170	66
14777 Palm Dr #15	0.41mi	2/2.0 (-1)	1,260 (-6%)	3mo	$180,000	$143	64

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: -0.9%
• Equity multiple: 0.97×
• Total profit: $-1,756
• Equity at exit: $28,628

10-year hold

• IRR: 9.7%
• Equity multiple: 1.78×
• Total profit: $42,010
• Equity at exit: $16,601

Cash invested: $53,760 (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: 6.1×

Monthly cashflow live

• Estimated rent: $2,640 high
• Mortgage (P&I): −$1,007
• Tax est. 1.5%: −$240 /mo · $2,880/yr
• Insurance: −$80
• HOA: −$329
• Vacancy / Maint / Mgmt: −$554
• Net cashflow: $429

Break-even live

Break-even rent $2,096

Max offer price $192,000

Occupancy floor 79%

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: $48,000
• Closing costs: $5,760
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15300 Palm Dr Desert Hot Springs, CA	3.0	2.0	1458	$2,800	$1.92	43d	1	0.16mi
14777 Palm Dr Desert Hot Springs, CA	4.0	2.0	1573	$1,995	$1.27	43d	1	0.30mi
15123 Avenida Ramada Desert Hot Springs, CA	4.0	2.0	1745	$3,200	$1.83	17d	1	0.56mi
13987 El Cajon Dr Desert Hot Springs, CA	3.0	2.0	1215	$2,600	$2.14	7d	1	0.66mi
16111 Avenida Ramada Desert Hot Springs, CA	4.0	2.0	1773	$3,000	$1.69	43d	1	0.68mi
66629 Joseph Way Unit B Desert Hot Springs, CA	4.0	2.0	1200	$2,900	$2.42	24d	1	0.80mi
13950 West Dr Unit B Desert Hot Springs, CA	2.0	2.0	1008	$1,600	$1.59	1d	1	0.81mi
15490 Avenue Rambla Unit NA Desert Hot Springs, CA	3.0	2.0	1088	$2,600	$2.39	24d	1	0.92mi
15490 Avenida Rambla Desert Hot Springs, CA	3.0	2.0	1088	$2,600	$2.39	43d	1	0.92mi
13244 El Cajon Dr Desert Hot Springs, CA	4.0	0.5	1320	$3,200	$2.42	43d	1	1.01mi
16087 Bubbling Wells Rd Desert Hot Springs, CA	3.0	2.0	1850	$5,000	$2.70	43d	1	1.02mi
13715 El Rio Ln Desert Hot Springs, CA	3.0	2.0	1318	$2,600	$1.97	7d	1	1.05mi
13322 El Rio Ln Desert Hot Springs, CA	3.0	2.0	1215	$2,750	$2.26	43d	1	1.18mi
66824 Estrella Ave Desert Hot Springs, CA	3.0	1.0	1700	$2,300	$1.35	23d	1	1.35mi
66444 Desert View Ave Unit B Desert Hot Springs, CA	3.0	2.0	1294	$2,275	$1.76	43d	1	1.39mi
13437 Cuando Way Desert Hot Springs, CA	4.0	2.5	1853	$3,200	$1.73	43d	1	1.40mi
66369 Buena Vista Ave Apt A Desert Hot Springs, CA	3.0	2.0	931	$1,499	$1.61	43d	1	1.48mi
12920 Maui Way Desert Hot Springs, CA	4.0	2.0	1570	$3,100	$1.97	43d	1	1.50mi

HOA detail

• Monthly dues: $329 · $3,948/yr
• Likely covers: poolsecurity

Listing history 23 events

1. 2026-06-18
   days on market $192,000 Active 78 DOM
2. 2026-06-17
   days on market $192,000 Active 77 DOM
3. 2026-06-16
   days on market $192,000 Active 76 DOM
4. 2026-06-15
   days on market $192,000 Active 75 DOM
5. 2026-06-13
   days on market $192,000 Active 73 DOM
6. 2026-06-13
   days on market $192,000 Active 72 DOM
7. 2026-06-09
   days on market $192,000 Active 69 DOM
8. 2026-06-08
   days on market $192,000 Active 68 DOM
9. 2026-06-07
   days on market $192,000 Active 67 DOM
10. 2026-06-04
    days on market $192,000 Active 64 DOM
11. 2026-06-03
    days on market $192,000 Active 63 DOM
12. 2026-06-02
    days on market $192,000 Active 62 DOM
13. 2026-06-01
    days on market $192,000 Active 61 DOM
14. 2026-05-31
    days on market $192,000 Active 60 DOM
15. 2026-04-01
    listed $192,000 Active 1343-char remark

    Show marketing remark (1343 chars)

    This 1988 3bed, 2bath almost 1400 sq ft home (offered furnished) is situated on a prime corner lot with great mountain views from front porch (no 433A on file but seller will cooperate for 433A if buyer is seeking financing and lender most likely will require). One owner only since inception (1988) for this property. They come use the property 6-12+ times a year, so it's in very good move-in condition even though it has not been updated much (it is priced accordingly). Don't miss out on this opportunity to be part of the premier 55+ fee simple (you own the land/low HOA of $300/mo) manuf home community of Vista Montana. Guard Gated (Mon thru Sat 9a-3p). There's a resort feel to the community, beautiful clubhouse with large TV lounge, exercise room, meeting room and large kitchen for private parties, gorgeous main pool/spa, on-site management, greenbelt, satellite pool/spa, social activities, card play and billiards rooms. .. even a doggie park. Nice easy flow floor plan from entry to LR to Kitchen to the 2 guest bedrooms on one side of the house and primary bedroom on other. Master bathroom includes soaking tub, walk-in shower. Guest bathroom has tub-shower combo. Home comes with all appliances, furnishings are included other than LR TV. 2 car tandem carport with nice wooden shed. Come see, Make offer. Seller is MOTIVATED.

16. 2026-03-18
    price
17. 2026-02-04
    status Active
18. 2026-01-29
    historical Backup Offers Accepted
19. 2025-12-22
    price
20. 2025-09-01
    listed Active
21. 2025-05-20
    price
22. 2025-05-11
    status Active
23. 2025-03-12
    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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 6 d/yr ≥111°F today · 17 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: $31,675
• − Mortgage interest: −$10,755
• − Property taxes: −$2,880
• − Insurance: −$960
• − Repairs & maintenance: −$2,534
• − Management: −$2,534
• − HOA: −$3,948
• − Depreciation: −$5,585
• Taxable income: $2,479
• Est. tax owed @ 24.0%: −$595
• After-tax cash flow: $4,558/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 75/100 Cosmetic rehab

This 1988 3-bedroom, 2-bath home is in good condition and ready for a fresh coat of paint and some minor updates to the kitchen and bathrooms. The home is situated on a prime corner lot with great mountain views and is part of a gated community with a resort feel.

Repairs flagged

• Minor Kitchen flooring — Worn appearance
• Minor Bathroom flooring — Worn appearance
• Minor Kitchen cabinetry — Worn appearance
• Minor Bathroom fixtures — Worn appearance

Value-add opportunities

• Both Paint interior walls — Fresh paint can make a significant difference in the home's appearance and value.
• Both Replace kitchen flooring — New flooring can improve the home's functionality and appeal.
• Both Replace bathroom flooring — New flooring can improve the home's functionality and appeal.
• Both Replace kitchen cabinetry — New cabinetry can improve the home's functionality and appeal.
• Both Replace bathroom fixtures — New fixtures can improve the home's functionality and appeal.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen flooring · Worn appearance	Minor	$500–3,000
Bathroom flooring · Worn appearance	Minor	$500–3,000
Kitchen cabinetry · Worn appearance	Minor	$500–3,000
Bathroom fixtures · Worn appearance	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can make a significant difference in the home's appearance and value. ↑
• Both Replace kitchen flooring — New flooring can improve the home's functionality and appeal. ↑
• Both Replace bathroom flooring — New flooring can improve the home's functionality and appeal. ↑
• Both Replace kitchen cabinetry — New cabinetry can improve the home's functionality and appeal. ↑
• Both Replace bathroom fixtures — New fixtures can improve the home's functionality and appeal. ↑

ⓘ 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 — Desert Hot Springs

• Score: 49/100
• State rank: #1149
• US rank: #25774

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Desert Hot Springs, 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

9 events — show timeline

• 2026-04-01 Listed $192,000 TheMLS
• 2026-03-18 Price Changed — TheMLS
• 2026-02-04 Relisted — TheMLS
• 2026-01-29 Contingent — TheMLS
• 2025-12-22 Price Changed — TheMLS
• 2025-09-01 Listed — TheMLS
• 2025-05-20 Price Changed — TheMLS
• 2025-05-11 Relisted — TheMLS
• 2025-03-12 Listed — TheMLS