15500 Bubbling Wells Rd #133 · Garnet, CA 92240

$65,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 55 Days on market

Built 1980 $45/sqft · 8% above area Est $60k · 8% over $877/mo HOA · 33% of rent

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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
• ARV discount +3.8/15.0
• 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

Come and enjoy the peace and tranquility of resort style living in Hidden Springs Country Club a 55+ Community. This unit affords you the convenience of retirement-style living, while having all the amenities for an active lifestyle! This wonderful two bedroom, two bath home with a large open living and dining room, as well as family room, provides ample space for all your gatherings. The open airy kitchen with loads of cabinets overlooks the cozy family room. Extra large laundry room has a built in desk. The large primary bedroom with en suite bath is perfect for relaxing after a busy day. The good sized secondary bedroom is connected to the second 3/4 bathroom. This home has been updated

Key facts

• 2 parking spots
• Community pool
• Built 1980

Property features AI

Finance

• Other: Property is a residential mobile home within a rent-controlled community; Mobile home to remain with sale; Park manager listed
• Financial info: Manager approval required; Land lease: other (land not included); Rent includes trash collection
• HOA & community: Hidden Springs Country Club community; Senior park; Community amenities: clubhouse, fitness center, pool, spa, sauna, tennis courts, pickleball, golf, lake/pond, meeting/party rooms, billiard and card rooms, association barbecue, sun deck, common RV parking, guest parking; Association pet rules (restrictions apply); Association phone available; Homeowner dues (association fees) include trash and sewer

Exterior

• Parking: Carport attached; Two covered parking spaces (carport); Two total parking spaces
• Security: Gated community; Resident manager; Smoke detector
• Utilities: Water provided by water district; Shared septic sewer service; Central gas water heater
• Home design: Manufactured mobile home; Double-wide mobile home; Single-story; Faces north; Wheelchair ramp access
• Construction: Manufactured home construction; Foundation with pier jacks; Elastomeric roof; Manufacture date: January 1, 1980; Make/Model: Golden West / Kingston; Mobile home dimensions approximately 24 x 60
• Exterior features: Covered porch; On golf course view; Has golf course view; Shed

Interior

• Kitchen: Double oven; Gas cooktop; Range hood / hood fan; Laminate countertops; Range/oven; Dishwasher; Refrigerator
• Flooring: Laminate floors
• Bathrooms: Two 3/4 bathrooms with shower stalls
• Heating & cooling: Central heating; Air conditioning; Evaporative cooling
• Interior features: Furnished or unfurnished; Mirrored closet doors; Living room entry; Ceiling fan; Smoke detector
• Laundry & utility: Laundry room; Community laundry; Washer and dryer included; Gas dryer hookup; Central gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $65k.

Deal economics

• At list price, monthly cash flow is $718 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.8% 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); 519 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 89% 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 $2,662/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 $449 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 19y 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 $32k; list at $65k implies a 103% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo; HOA is 33% 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 $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
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: 4.10% ✓
• Cap rate: 21.80%
• Cash-on-cash: 55.38%
• DSCR: 3.46
• GRM: 2.0

CMA / ARV

• ARV (median comp): $60,000
• List price: $65,000
• Delta: 8.33%
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15500 Bubbling Wells Rd #265	0.00mi	2/2.0	1,440 (0%)	3mo	$45,000	$31	98
15500 Bubbling Wells Rd #300	0.00mi	2/2.0	1,440 (0%)	7mo	$55,000	$38	94
15500 Bubbling Wells Rd #237	0.00mi	2/2.0	1,440 (0%)	13mo	$40,000	$28	89
15500 Bubbling Wells Rd #277	0.13mi	2/2.0	1,536 (+7%)	1mo	$55,000	$36	82
15500 Bubbling Wells Rd #104	0.13mi	2/2.0	1,440 (0%)	15mo	$125,000	$87	81
15500 Bubbling Wells Rd #243	0.12mi	3/2.0 (+1)	1,344 (-7%)	3mo	$69,500	$52	76
15500 Bubbling Wells Rd #283	0.02mi	2/2.0	1,344 (-7%)	15mo	$75,000	$56	76
15500 Bubbling Wells Rd #191	0.00mi	2/2.0	1,344 (-7%)	17mo	$126,000	$94	75
15500 Bubbling Wells Rd #253	0.13mi	2/2.0	1,610 (+12%)	6mo	$48,000	$30	69
15500 Bubbling Wells Rd #108	0.13mi	2/2.0	1,296 (-10%)	17mo	$95,000	$73	63
67644 San Andreas St	0.36mi	3/2.0 (+1)	1,586 (+10%)	7mo	$275,000	$173	56
16160 Avenida Mirola	0.40mi	3/2.0 (+1)	1,344 (-7%)	14mo	$318,000	$237	53

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: 46.5%
• Equity multiple: 3.06×
• Total profit: $37,569
• Equity at exit: $9,692

10-year hold

• IRR: 52.9%
• Equity multiple: 6.58×
• Total profit: $101,468
• Equity at exit: $5,620

Cash invested: $18,200 (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: 519
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $2,662 high
• Mortgage (P&I): −$341
• Tax from tax record: −$18 /mo · $215/yr
• Insurance: −$27
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$877
• Vacancy / Maint / Mgmt: −$559
• Net cashflow: $718

Break-even live

Break-even rent $1,753

Max offer price $65,000

Occupancy floor 68%

Sensitivity live

Price	-10% $754	-5% $736	+0% $718	+5% $699	+10% $681
Rent	-10% $507	-5% $613	+0% $718	+5% $823	+10% $928
Rate	-1.0pp $750	-0.5pp $734	base $718	+0.5pp $701	+1.0pp $684

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 9 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
15300 Palm Dr Desert Hot Springs, CA	3.0	2.0	1458	$2,800	$1.92	44d	1	0.99mi
13440 Quinta Way Unit 2 Desert Hot Springs, CA	2.0	2.0	1032	$2,000	$1.94	44d	1	1.16mi
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
13553 Avenida La Vis Desert Hot Springs, CA	3.0	2.0	1625	$2,495	$1.54	44d	1	1.28mi
12920 Inaja St Unit C Desert Hot Springs, CA	2.0	2.0	1000	$1,895	$1.90	44d	1	1.38mi

HOA detail

• Monthly dues: $877 · $10,524/yr

Listing history 48 events

1. 2026-06-21
   days on market $65,000 Active 55 DOM
2. 2026-06-18
   days on market $65,000 Active 52 DOM
3. 2026-06-17
   days on market $65,000 Active 51 DOM
4. 2026-06-16
   days on market $65,000 Active 50 DOM
5. 2026-06-15
   days on market $65,000 Active 49 DOM
6. 2026-06-13
   days on market $65,000 Active 47 DOM
7. 2026-06-13
   days on market $65,000 Active 46 DOM
8. 2026-06-09
   days on market $65,000 Active 43 DOM
9. 2026-06-08
   days on market $65,000 Active 42 DOM
10. 2026-06-07
    days on market $65,000 Active 41 DOM
11. 2026-06-04
    days on market $65,000 Active 38 DOM
12. 2026-06-03
    days on market $65,000 Active 37 DOM
13. 2026-06-02
    days on market $65,000 Active 36 DOM
14. 2026-06-01
    days on market $65,000 Active 35 DOM
15. 2026-05-31
    days on market $65,000 Active 34 DOM
16. 2026-04-27
    listed $65,000 Active 1417-char remark
17. 2025-07-09
    price
18. 2025-06-01
    price
19. 2024-04-18
    price
20. 2024-04-18
    status Active
21. 2024-04-02
    listed Active
22. 2023-06-28
    listed Active
23. 2023-01-23
    historical
24. 2022-09-02
    price $93,900
25. 2022-07-25
    listed $98,900 Active
26. 2020-03-25
    historical
27. 2020-03-24
    soldstatus $32,000 Closed
28. 2020-02-25
    status Pending
29. 2020-01-18
    price $34,900
30. 2019-11-19
    listed $39,000 Active
31. 2019-09-18
    historical
32. 2012-05-14
    soldstatus $8,200 Closed
33. 2012-05-14
    soldstatus $8,200
34. 2012-01-16
    listed $8,900
35. 2011-12-23
    historical Expired
36. 2011-12-22
    price
37. 2011-12-22
    historical
38. 2011-11-14
    price
39. 2011-10-19
    price
40. 2011-07-12
    price
41. 2011-06-20
    price
42. 2011-02-23
    listed Active
43. 2011-02-22
    listed $18,900
44. 2011-02-22
    listed
45. 2008-11-25
    historical
46. 2007-10-29
    listed
47. 2007-09-08
    historical
48. 2007-03-09
    listed $62,500

ⓘ 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: $215 · $18/mo
• Projected year-2 tax: $494 · $41/mo
• Expected delta: +$279/yr (+$23/mo · 129.9%)

ⓘ 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: $31,941
• − Mortgage interest: −$3,641
• − Property taxes: −$215
• − Insurance: −$1,792
• − Repairs & maintenance: −$2,555
• − Management: −$2,555
• − HOA: −$10,524
• − Depreciation: −$1,891
• Taxable income: $8,767
• Est. tax owed @ 24.0%: −$2,104
• After-tax cash flow: $6,508/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
• 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

+4.0% since first listed

33 events — show timeline

• 2026-04-27 Listed $65,000 TheMLS
• 2025-07-09 Price Changed — TheMLS
• 2025-06-01 Price Changed — TheMLS
• 2024-04-18 Price Changed — TheMLS
• 2024-04-18 Relisted — TheMLS
• 2024-04-02 Listed — TheMLS
• 2023-06-28 Listed — TheMLS
• 2023-01-23 Listing Removed — CRMLS
• 2022-09-02 Price Changed $93,900 CRMLS
• 2022-07-25 Listed $98,900 CRMLS
• 2020-03-25 Listing Removed — GPSMLS
• 2020-03-24 Sold (MLS) $32,000 GPSMLS
• 2020-02-25 Pending — GPSMLS
• 2020-01-18 Price Changed $34,900 GPSMLS
• 2019-11-19 Listed $39,000 GPSMLS
• 2019-09-18 Listing Removed — GPSMLS
• 2012-05-14 Sold (MLS) $8,200 GPSMLS
• 2012-05-14 Sold (MLS) $8,200 GPSMLS
• 2012-01-16 Listed $8,900 GPSMLS
• 2011-12-23 Delisted — PALM
• 2011-12-22 Price Changed — PALM
• 2011-12-22 Delisted — PALM
• 2011-11-14 Price Changed — PALM
• 2011-10-19 Price Changed — PALM
• 2011-07-12 Price Changed — PALM
• 2011-06-20 Price Changed — PALM
• 2011-02-23 Listed — PALM
• 2011-02-22 Listed — PALM
• 2011-02-22 Listed $18,900 GPSMLS
• 2008-11-25 Delisted — PALM
• 2007-10-29 Listed — PALM
• 2007-09-08 Listing Removed — GPSMLS
• 2007-03-09 Listed $62,500 GPSMLS

Property tax history

-1.5%/yr

Latest (2025): $215 · -1.4% YoY. Source: county tax records.