156 Caravan St · Palm Springs, CA 92264

$225,000

2 bd · 1.0 ba · 760 sqft · Manufactured · 71 Days on market

Built 1957 Good condition $296/sqft · 14% below area Est $263k · 14% under ↓ 8% since listing

---

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 +18.6/30.0
• ARV discount +14.0/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sahara Park, located just minutes from Downtown Palm Springs. A 2 Bedroom, 1 Bath Home with Great Mountain Views. No HOA, Rent Control and the lowest lot rents in South Palm Springs. A 55 plus community and small pet friendly. Clubhouse, library, gym, pottery studio, billards room amd lots of community activities each month. A beautiful heated pool & hot tub and the park and common areas are well maintained. New appliances and the bathroom remodeled with new flooring throughout the home. Potential to expand also.

Key facts

• Clubhouse
• Small pet friendly
• Gym

Tags

• MOUNTAIN VIEWS
• NO HOA
• SMALL PET FRIENDLY
• CLUBHOUSE
• LIBRARY
• GYM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $225k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (0.2% below list).
• Recommended offer: $212k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• This rent runs 35% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 9→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $211,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — 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: 1.00% ✗
• Cap rate: 7.46%
• Cash-on-cash: 4.17%
• DSCR: 1.19
• GRM: 8.4

CMA / ARV

• ARV (median comp): $262,966
• List price: $225,000
• Delta: -14.44%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
226 Lei Dr	0.12mi	2/2.0	800 (+5%)	5mo	$235,000	$294	78
157 Caravan St	0.01mi	2/1.0	860 (+13%)	2mo	$255,000	$297	75
112 Pali Dr	0.14mi	2/2.0	800 (+5%)	8mo	$275,000	$344	74
31 Sahara St	0.09mi	2/1.0	700 (-8%)	13mo	$210,000	$300	72
804 Hila Ln	0.07mi	2/2.0	840 (+10%)	4mo	$288,000	$343	72
339 Lei Dr	0.15mi	2/2.0	800 (+5%)	18mo	$315,000	$394	65
134 Pali Dr	0.21mi	2/2.0	840 (+10%)	8mo	$290,000	$345	62
351 Lei Dr	0.19mi	2/2.0	840 (+10%)	12mo	$280,000	$333	60

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: -13.2%
• Equity multiple: 0.54×
• Total profit: $-29,062
• Equity at exit: $33,548

10-year hold

• IRR: -9.8%
• Equity multiple: 0.48×
• Total profit: $-32,644
• Equity at exit: $19,454

Cash invested: $63,000 (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 92264

• Rents YoY: -0.4%
• Active inventory: 492
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,245 high
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $219

Break-even live

Break-even rent $1,968

Max offer price $225,000

Occupancy floor 85%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 Pali Dr Palm Springs, CA	2.0	2.0	835	$2,200	$2.63	21d	1	0.14mi
1900 S Palm Canyon Dr #42 Palm Springs, CA	2.0	2.0	1024	$2,500	$2.44	43d	1	0.21mi
1950 S Palm Canyon Dr Palm Springs, CA	1.0–2.0	1.0–2.0	902	$2,500	$2.77	43d	2	0.26mi
1950 S Palm Canyon Dr Palm Springs, CA	1.0–2.0	1.0–2.0	902	$2,645	$2.93	2d	3	0.26mi
1674 Via Salida Unit 3 Palm Springs, CA	1.0	1.0	550	$1,650	$3.00	15d	1	0.36mi
1111 E Palm Canyon Dr Palm Springs, CA	1.0	1.0	525	$2,525	$4.81	24d	2	0.37mi
1428 S Camino Real Palm Springs, CA	2.0	2.0	1054	$2,300	$2.18	43d	1	0.54mi
1425 Via Soledad Unit 1 Palm Springs, CA	2.0	2.0	1050	$2,500	$2.38	43d	1	0.56mi
1425 Via Soledad Unit 1 Palm Springs, CA	2.0	2.0	1050	$2,500	$2.38	24d	1	0.56mi
1400 E Palm Canyon Dr Unit 113 Palm Springs, CA	1.0	1.0	800	$1,995	$2.49	43d	1	0.63mi
1530 E Palm Canyon Dr Unit 209 Palm Springs, CA	2.0	2.0	740	$2,595	$3.51	3d	1	0.68mi
1655 E Palm Canyon Dr Palm Springs, CA	1.0	1.0	755	$2,000	$2.65	7d	3	0.72mi
1655 E Palm Canyon Dr Palm Springs, CA	1.0	1.0	755	$2,122	$2.81	43d	3	0.72mi
1655 E Palm Canyon Dr Palm Springs, CA	1.0	1.0	755	$2,350	$3.11	24d	2	0.72mi
1333 S Belardo Rd Palm Springs, CA	1.0	1.0	687	$1,925	$2.80	2d	8	0.73mi
777 E San Lorenzo Rd Unit 3 Palm Springs, CA	1.0	1.0	550	$1,765	$3.21	18d	1	0.84mi
722 E San Lorenzo Rd Palm Springs, CA	3.0	1.0–2.0	750	$2,015	$2.69	7d	3	0.87mi
671 S Riverside Dr Unit 6 Palm Springs, CA	2.0	2.0	900	$1,985	$2.21	24d	1	0.89mi
788 N Riverside Dr Palm Springs, CA	1.0	1.0	725	$1,648	$2.27	43d	1	0.97mi
594 Calle Abronia S Unit 03 Palm Springs, CA	2.0	2.0	662	$1,895	$2.86	43d	1	1.19mi
585 Calle Abronia S Unit B Palm Springs, CA	1.0	1.0	750	$2,100	$2.80	43d	1	1.19mi
583 Calle Abronia S Unit A Palm Springs, CA	2.0	1.0	760	$2,299	$3.02	43d	1	1.20mi
620 S Thornhill Rd Unit 6 Palm Springs, CA	1.0	1.0	656	$1,765	$2.69	24d	1	1.24mi
620 S Thornhill Rd Unit 3 Palm Springs, CA	2.0	1.0	700	$1,985	$2.84	24d	1	1.24mi
1111 E Ramon Rd Palm Springs, CA	2.0–3.0	2.0	1191	$2,000	$1.68	24d	2	1.34mi
1111 E Ramon Rd Palm Springs, CA	2.0–3.0	2.0	1191	$2,800	$2.35	16d	2	1.34mi

Listing history 11 events

1. 2026-06-13
   days on market $225,000 Active 71 DOM
2. 2026-06-09
   days on market $225,000 Active 68 DOM
3. 2026-06-08
   days on market $225,000 Active 67 DOM
4. 2026-06-07
   days on market $225,000 Active 66 DOM
5. 2026-06-04
   days on market $225,000 Active 63 DOM
6. 2026-06-03
   days on market $225,000 Active 62 DOM
7. 2026-06-02
   days on market $225,000 Active 61 DOM
8. 2026-06-01
   days on market $225,000 Active 60 DOM
9. 2026-05-31
   days on market $225,000 Active 59 DOM
10. 2026-04-14
    price $225,000 525-char remark

    Show marketing remark (525 chars)

    Sahara Park, located just minutes from Downtown Palm Springs. A 2 Bedroom, 1 Bath Home with Great Mountain Views. No HOA, Rent Control and the lowest lot rents in South Palm Springs. A 55 plus community and small pet friendly. Clubhouse, library, gym, pottery studio, billards room amd lots of community activities each month. A beautiful heated pool & hot tub and the park and common areas are well maintained. New appliances and the bathroom remodeled with new flooring throughout the home. Potential to expand also.

11. 2026-03-13
    listed $245,000 Active 525-char remark

    Show marketing remark (525 chars)

    Sahara Park, located just minutes from Downtown Palm Springs. A 2 Bedroom, 1 Bath Home with Great Mountain Views. No HOA, Rent Control and the lowest lot rents in South Palm Springs. A 55 plus community and small pet friendly. Clubhouse, library, gym, pottery studio, billards room amd lots of community activities each month. A beautiful heated pool & hot tub and the park and common areas are well maintained. New appliances and the bathroom remodeled with new flooring throughout the home. Potential to expand also.

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 9 d/yr ≥110°F today · 26 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: $26,945
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,156
• − Management: −$2,156
• − Depreciation: −$6,545
• Taxable loss: −$1,015
• Est. tax savings @ 24.0%: +$244
• After-tax cash flow: $2,871/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 · 9 photos

Good 80/100 Cosmetic rehab

This 2-bedroom, 1-bath home in Palm Springs is in good condition with recent updates and a well-maintained exterior. It offers great mountain views and is located in a pet-friendly community with amenities and low lot rents.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace sliding glass doors — Improves energy efficiency and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace sliding glass doors — Improves energy efficiency and aesthetics ↑

ⓘ 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 — 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

-8.2% since first listed

2 events — show timeline

• 2026-04-14 Price Changed $225,000 TheMLS
• 2026-03-13 Listed $245,000 TheMLS