22840 Sterling Ave · Palm Springs, CA 92262

$150,000

3 bd · 2.0 ba · 1,188 sqft · Manufactured public records · 23 Days on market

Built 1992 Est $153k · at est. ↓ 17% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.5/15.0
• Livability +3.3/5.0
• 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

IMMACULATE PROPERTY with BEAUTIFUL MOUNTAIN VIEWS located in the vibrant city of PALM SPRINGS. Like brand new, this 2019 home offers 3 bedrooms, 2 baths with 1,512 square feet of living space. This home features an open floor plan, large kitchen island, refrigerator, dishwasher, oven, recessed lighting with smart app capabilities, central heating & AC, elegant chandelier in master bedroom, dual vanity sinks in master bathroom, detachable shower heads in both bathrooms and huge walk in closets. Laundry room is equipped with washer and dryer hook-ups. In addition, the home includes a water softener & filtration system, WHOLE HOME ENERGY EFFICIENT WINDOW TINT, new awning/carport, NEW vinyl fencing around the property line with two locked gates, DESERT LANDSCAPING with water drip system, locked shed in the backyard, and the home is wired for an alarm system and has four hard wired security cameras installed. Community offers a range of amenities including a sparkling pool, spa, fitness center and library. There's also a CLUBHOUSE that could be used for parties and events, as well as a BBQ area for outdoor grilling. Located in a prime location, this property is just a short distance from downtown Palm Springs, where you can enjoy world class dining, shopping and entertainment. This home is a FANTASTIC OPPORTUNITY to experience the best of PALM SPRINGS LIVING. It is also conveniently located near major highways and public transportation, making it easy to explore the rest of the Coachella Valley. Don't miss this chance to make this wonderful property your NEW HOME!

Key facts

• Flexible space
• Gorgeous pool
• Move in ready

Tags

• MOVE IN READY
• FLEXIBLE SPACE
• RESORT STYLE AMENITIES
• GORGEOUS POOL
• BEAUTIFUL MOUNTAIN SCENERY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.9% 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 flat; 647 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 $2,840/mo this rent would consume 48% 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 $1k 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 + 0.5% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $125/mo.
• 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 $147,750 (1.5% below list)

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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.89% ✓
• Cap rate: 16.94%
• Cash-on-cash: 38.02%
• DSCR: 2.69
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $153,252
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22840 Sterling Ave #142	0.00mi	3/2.0	1,188 (0%)	7mo	$115,000	$97	94
22840 Sterling Ave #35	0.00mi	3/2.0	1,188 (0%)	10mo	$70,000	$59	91
22840 Sterling Ave #73	0.00mi	3/2.0	1,188 (0%)	15mo	$153,000	$129	88
22840 Sterling Ave #4	0.00mi	3/2.0	1,164 (-2%)	11mo	$150,000	$129	87
22840 Sterling Ave #186	0.00mi	3/2.0	1,296 (+9%)	7mo	$181,000	$140	79
22840 Sterling Ave #8	0.00mi	2/2.0 (-1)	1,344 (+13%)	22mo	$90,000	$67	55

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: 27.0%
• Equity multiple: 2.08×
• Total profit: $45,446
• Equity at exit: $22,365

10-year hold

• IRR: 33.0%
• Equity multiple: 3.64×
• Total profit: $111,020
• Equity at exit: $12,969

Cash invested: $42,000 (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: 647
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,840 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$64 /mo · $766/yr
• Insurance: −$62
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$596
• Net cashflow: $1,206

Break-even live

Break-even rent $1,314

Max offer price $150,000

Occupancy floor 53%

Sensitivity live

Price	-10% $1,291	-5% $1,248	+0% $1,206	+5% $1,163	+10% $1,121
Rent	-10% $981	-5% $1,093	+0% $1,206	+5% $1,318	+10% $1,430
Rate	-1.0pp $1,281	-0.5pp $1,244	base $1,206	+0.5pp $1,167	+1.0pp $1,127

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: $37,500
• Closing costs: $4,500
• 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	2d	1	0.03mi

Listing history 24 events

1. 2026-06-18
   days on market $150,000 Active 23 DOM
2. 2026-06-17
   days on market $150,000 Active 22 DOM
3. 2026-06-16
   days on market $150,000 Active 21 DOM
4. 2026-06-15
   days on market $150,000 Active 20 DOM
5. 2026-06-13
   days on market $150,000 Active 18 DOM
6. 2026-06-13
   days on market $150,000 Active 17 DOM
7. 2026-06-09
   days on market $150,000 Active 14 DOM
8. 2026-06-08
   days on market $150,000 Active 13 DOM
9. 2026-06-07
   days on market $150,000 Active 12 DOM
10. 2026-06-04
    days on market $150,000 Active 9 DOM
11. 2026-06-03
    days on market $150,000 Active 8 DOM
12. 2026-06-02
    days on market $150,000 Active 7 DOM
13. 2026-06-01
    days on market $150,000 Active 6 DOM
14. 2026-05-31
    days on market $150,000 Active 5 DOM
15. 2026-05-26
    listed $150,000 Active
16. 2024-05-24
    soldstatus $185,000 Closed Sale 1597-char remark

    Show marketing remark (1597 chars)

    IMMACULATE PROPERTY with BEAUTIFUL MOUNTAIN VIEWS located in the vibrant city of PALM SPRINGS. Like brand new, this 2019 home offers 3 bedrooms, 2 baths with 1,512 square feet of living space. This home features an open floor plan, large kitchen island, refrigerator, dishwasher, oven, recessed lighting with smart app capabilities, central heating & AC, elegant chandelier in master bedroom, dual vanity sinks in master bathroom, detachable shower heads in both bathrooms and huge walk in closets. Laundry room is equipped with washer and dryer hook-ups. In addition, the home includes a water softener & filtration system, WHOLE HOME ENERGY EFFICIENT WINDOW TINT, new awning/carport, NEW vinyl fencing around the property line with two locked gates, DESERT LANDSCAPING with water drip system, locked shed in the backyard, and the home is wired for an alarm system and has four hard wired security cameras installed. Community offers a range of amenities including a sparkling pool, spa, fitness center and library. There's also a CLUBHOUSE that could be used for parties and events, as well as a BBQ area for outdoor grilling. Located in a prime location, this property is just a short distance from downtown Palm Springs, where you can enjoy world class dining, shopping and entertainment. This home is a FANTASTIC OPPORTUNITY to experience the best of PALM SPRINGS LIVING. It is also conveniently located near major highways and public transportation, making it easy to explore the rest of the Coachella Valley. Don't miss this chance to make this wonderful property your NEW HOME!

17. 2024-05-09
    status Pending Sale 1597-char remark

    Show marketing remark (1597 chars)

    IMMACULATE PROPERTY with BEAUTIFUL MOUNTAIN VIEWS located in the vibrant city of PALM SPRINGS. Like brand new, this 2019 home offers 3 bedrooms, 2 baths with 1,512 square feet of living space. This home features an open floor plan, large kitchen island, refrigerator, dishwasher, oven, recessed lighting with smart app capabilities, central heating & AC, elegant chandelier in master bedroom, dual vanity sinks in master bathroom, detachable shower heads in both bathrooms and huge walk in closets. Laundry room is equipped with washer and dryer hook-ups. In addition, the home includes a water softener & filtration system, WHOLE HOME ENERGY EFFICIENT WINDOW TINT, new awning/carport, NEW vinyl fencing around the property line with two locked gates, DESERT LANDSCAPING with water drip system, locked shed in the backyard, and the home is wired for an alarm system and has four hard wired security cameras installed. Community offers a range of amenities including a sparkling pool, spa, fitness center and library. There's also a CLUBHOUSE that could be used for parties and events, as well as a BBQ area for outdoor grilling. Located in a prime location, this property is just a short distance from downtown Palm Springs, where you can enjoy world class dining, shopping and entertainment. This home is a FANTASTIC OPPORTUNITY to experience the best of PALM SPRINGS LIVING. It is also conveniently located near major highways and public transportation, making it easy to explore the rest of the Coachella Valley. Don't miss this chance to make this wonderful property your NEW HOME!

18. 2024-04-12
    price $200,900 1597-char remark

    Show marketing remark (1597 chars)

    IMMACULATE PROPERTY with BEAUTIFUL MOUNTAIN VIEWS located in the vibrant city of PALM SPRINGS. Like brand new, this 2019 home offers 3 bedrooms, 2 baths with 1,512 square feet of living space. This home features an open floor plan, large kitchen island, refrigerator, dishwasher, oven, recessed lighting with smart app capabilities, central heating & AC, elegant chandelier in master bedroom, dual vanity sinks in master bathroom, detachable shower heads in both bathrooms and huge walk in closets. Laundry room is equipped with washer and dryer hook-ups. In addition, the home includes a water softener & filtration system, WHOLE HOME ENERGY EFFICIENT WINDOW TINT, new awning/carport, NEW vinyl fencing around the property line with two locked gates, DESERT LANDSCAPING with water drip system, locked shed in the backyard, and the home is wired for an alarm system and has four hard wired security cameras installed. Community offers a range of amenities including a sparkling pool, spa, fitness center and library. There's also a CLUBHOUSE that could be used for parties and events, as well as a BBQ area for outdoor grilling. Located in a prime location, this property is just a short distance from downtown Palm Springs, where you can enjoy world class dining, shopping and entertainment. This home is a FANTASTIC OPPORTUNITY to experience the best of PALM SPRINGS LIVING. It is also conveniently located near major highways and public transportation, making it easy to explore the rest of the Coachella Valley. Don't miss this chance to make this wonderful property your NEW HOME!

19. 2024-04-01
    price $200,950 1597-char remark

    Show marketing remark (1597 chars)

    IMMACULATE PROPERTY with BEAUTIFUL MOUNTAIN VIEWS located in the vibrant city of PALM SPRINGS. Like brand new, this 2019 home offers 3 bedrooms, 2 baths with 1,512 square feet of living space. This home features an open floor plan, large kitchen island, refrigerator, dishwasher, oven, recessed lighting with smart app capabilities, central heating & AC, elegant chandelier in master bedroom, dual vanity sinks in master bathroom, detachable shower heads in both bathrooms and huge walk in closets. Laundry room is equipped with washer and dryer hook-ups. In addition, the home includes a water softener & filtration system, WHOLE HOME ENERGY EFFICIENT WINDOW TINT, new awning/carport, NEW vinyl fencing around the property line with two locked gates, DESERT LANDSCAPING with water drip system, locked shed in the backyard, and the home is wired for an alarm system and has four hard wired security cameras installed. Community offers a range of amenities including a sparkling pool, spa, fitness center and library. There's also a CLUBHOUSE that could be used for parties and events, as well as a BBQ area for outdoor grilling. Located in a prime location, this property is just a short distance from downtown Palm Springs, where you can enjoy world class dining, shopping and entertainment. This home is a FANTASTIC OPPORTUNITY to experience the best of PALM SPRINGS LIVING. It is also conveniently located near major highways and public transportation, making it easy to explore the rest of the Coachella Valley. Don't miss this chance to make this wonderful property your NEW HOME!

20. 2024-03-22
    price $200,999 1597-char remark

    Show marketing remark (1597 chars)

    IMMACULATE PROPERTY with BEAUTIFUL MOUNTAIN VIEWS located in the vibrant city of PALM SPRINGS. Like brand new, this 2019 home offers 3 bedrooms, 2 baths with 1,512 square feet of living space. This home features an open floor plan, large kitchen island, refrigerator, dishwasher, oven, recessed lighting with smart app capabilities, central heating & AC, elegant chandelier in master bedroom, dual vanity sinks in master bathroom, detachable shower heads in both bathrooms and huge walk in closets. Laundry room is equipped with washer and dryer hook-ups. In addition, the home includes a water softener & filtration system, WHOLE HOME ENERGY EFFICIENT WINDOW TINT, new awning/carport, NEW vinyl fencing around the property line with two locked gates, DESERT LANDSCAPING with water drip system, locked shed in the backyard, and the home is wired for an alarm system and has four hard wired security cameras installed. Community offers a range of amenities including a sparkling pool, spa, fitness center and library. There's also a CLUBHOUSE that could be used for parties and events, as well as a BBQ area for outdoor grilling. Located in a prime location, this property is just a short distance from downtown Palm Springs, where you can enjoy world class dining, shopping and entertainment. This home is a FANTASTIC OPPORTUNITY to experience the best of PALM SPRINGS LIVING. It is also conveniently located near major highways and public transportation, making it easy to explore the rest of the Coachella Valley. Don't miss this chance to make this wonderful property your NEW HOME!

21. 2024-03-20
    listed $203,599 Active 1597-char remark

    Show marketing remark (1597 chars)

    IMMACULATE PROPERTY with BEAUTIFUL MOUNTAIN VIEWS located in the vibrant city of PALM SPRINGS. Like brand new, this 2019 home offers 3 bedrooms, 2 baths with 1,512 square feet of living space. This home features an open floor plan, large kitchen island, refrigerator, dishwasher, oven, recessed lighting with smart app capabilities, central heating & AC, elegant chandelier in master bedroom, dual vanity sinks in master bathroom, detachable shower heads in both bathrooms and huge walk in closets. Laundry room is equipped with washer and dryer hook-ups. In addition, the home includes a water softener & filtration system, WHOLE HOME ENERGY EFFICIENT WINDOW TINT, new awning/carport, NEW vinyl fencing around the property line with two locked gates, DESERT LANDSCAPING with water drip system, locked shed in the backyard, and the home is wired for an alarm system and has four hard wired security cameras installed. Community offers a range of amenities including a sparkling pool, spa, fitness center and library. There's also a CLUBHOUSE that could be used for parties and events, as well as a BBQ area for outdoor grilling. Located in a prime location, this property is just a short distance from downtown Palm Springs, where you can enjoy world class dining, shopping and entertainment. This home is a FANTASTIC OPPORTUNITY to experience the best of PALM SPRINGS LIVING. It is also conveniently located near major highways and public transportation, making it easy to explore the rest of the Coachella Valley. Don't miss this chance to make this wonderful property your NEW HOME!

22. 2024-03-06
    historical
23. 2024-01-28
    price $172,000
24. 2023-10-08
    listed $180,000 Active

ⓘ 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: $766 · $64/mo
• Projected year-2 tax: $1,140 · $95/mo
• Expected delta: +$374/yr (+$31/mo · 48.8%)

ⓘ 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: $34,083
• − Mortgage interest: −$8,402
• − Property taxes: −$766
• − Insurance: −$2,252
• − Repairs & maintenance: −$2,727
• − Management: −$2,727
• − Depreciation: −$4,364
• Taxable income: $12,845
• Est. tax owed @ 24.0%: −$3,083
• After-tax cash flow: $11,385/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

-16.7% since first listed

10 events — show timeline

• 2026-05-26 Listed $150,000 FSBO.com
• 2024-05-24 Sold (MLS) $185,000 CRMLS
• 2024-05-09 Pending — CRMLS
• 2024-04-12 Price Changed $200,900 CRMLS
• 2024-04-01 Price Changed $200,950 CRMLS
• 2024-03-22 Price Changed $200,999 CRMLS
• 2024-03-20 Listed $203,599 CRMLS
• 2024-03-06 Listing Removed — CRMLS
• 2024-01-28 Price Changed $172,000 CRMLS
• 2023-10-08 Listed $180,000 CRMLS

Property tax history

+1.3%/yr

Latest (2025): $766 · -2.1% YoY. Source: county tax records.