73297 Highland Springs Dr #2 · Palm Desert, CA 92260

$275,000

2 bd · 2.0 ba · 1,800 sqft · Manufactured · 22 Days on market

Built 1979 Fair condition 3,485 sqft lot Est $380k · 28% under $400/mo HOA · 11% 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 +23.3/30.0
• ARV discount +15.0/15.0
• 1% rule +7.9/10.0
• DSCR +7.5/10.0
• Schools +3.8/10.0
• Rent growth +2.9/5.0
• Livability +2.6/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Palm Desert Greens! Home is located on an interior street and close to the Clubhouse! And With Side by Side parking! This unique floorplan offers a separate Living Room, a separate Kitchen, Dining area and a Family room. . House offers two bedrooms, and an separate office. The Primary Bedroom has a long double entry closet with cabinets. The Laundry room has the washer and dryer space, and also extra additional space The windows are updated, and the two front Living room windows have outside shutters. This home has a lot of character! Palm Desert Greens has a beautiful well kept golf course which is included in your HOA dues. A Lovely Clubhouse, Restaurant and bar offering gre

Key facts

• Separate kitchen
• Dining area
• Family room

Tags

• SEPARATE LIVING ROOM
• SEPARATE KITCHEN
• DINING AREA
• FAMILY ROOM
• LONG CLOSET WITH CABINETS
• THREE POOLS

Property features AI

Finance

• Other: PUD: yes; Community features include golf course within development and pickleball courts; Furniture included as shown (few exceptions); Property sold as-is
• Financial info: Sale terms: Conventional, cash to new loan, or cash
• HOA & community: Monthly association fee of $400; Association amenities include clubhouse, fitness center, billiard and card rooms, barbecue, picnic area, bocce and tennis courts, sauna, golf course access, bocce ball court; Association fees cover clubhouse, security and cable TV; Senior community; gated

Exterior

• Parking: Two total parking spaces (two covered); Attached carport, side-by-side; Driveway and on-street parking
• Security: 24-hour security; Gated community
• Utilities: Water from Coachella Valley Water (district); Sewer connected and paid; Cable TV available
• Home design: Attached property; One story / single-level; Triple-wide mobile home; Addition: 9' x 40'
• Construction: Pier jacks foundation; Exterior construction: other; Manufactured home by FUQUA (manufacture date 01/01/1980); Mobile home dimensions approx. 24' x 63'; One shed on the property; Mobile home will remain
• Exterior features: Block and other fencing; Sprinkler system with timer; Street lights; Gated community with 24-hour security

Interior

• Kitchen: Granite counters; Refrigerator; Dishwasher; Disposal
• Bedrooms: Bedrooms located on main level
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms; Tile shower and shower stall; Tub only in at least one bathroom
• Heating & cooling: Central heating (natural gas); Central air; Evaporative cooling
• Interior features: Drapes; Furnished; Fireplace in family room; Dining area and separate eating area; Utility/other room
• Laundry & utility: Washer and dryer; Laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $275k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $503 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $275k).
• Recommended offer: $271k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 3.5% in Palm Desert — 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 51/100 on livability (#1,050 in CA) — a working-class tenant base; expect higher turnover. Strengths: schools A-, employment B+, housing B; Watch: crime D, amenities F, commute F.
• Desert Sands Unified (suburban): math 31% / reading 56% proficiency, ranked #199 of 517 in CA (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.6%/yr); 545 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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 $3,548/mo this rent would consume 61% of the median local household income ($70k/yr) (locally 1734% 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 $2k of loan paydown is wiped out by about $8k 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 22 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $270,875 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.29% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.84%
• DSCR: 1.35
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $379,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
73297 Highland Springs Dr #2	0.00mi	2/2.0	1,800 (0%)	0mo	$275,000	$153	100
73450 Country Club Dr Unit Sp. 91	0.34mi	2/2.0	1,788 (-1%)	0mo	$255,000	$143	83
38235 Poppet Canyon Dr	0.16mi	2/2.0	1,680 (-7%)	0mo	$355,000	$211	81
38785 Bautista Canyon Way	0.33mi	2/2.0	1,760 (-2%)	2mo	$330,000	$188	79
73330 Desert Greens Dr N	0.33mi	2/2.0	1,740 (-3%)	1mo	$229,080	$132	78
73045 Buck Springs Dr	0.24mi	2/2.0	1,680 (-7%)	2mo	$468,000	$279	76
38251 Desert Greens Dr E	0.47mi	2/2.0	1,780 (-1%)	1mo	$253,000	$142	75
73701 Half Way Dr	0.41mi	2/2.5	1,890 (+5%)	2mo	$400,000	$212	69
38668 Fawn Springs Dr	0.17mi	3/2.5 (+1)	1,600 (-11%)	0mo	$410,000	$256	66
73450 Country Club Dr #87	0.34mi	3/2.0 (+1)	1,636 (-9%)	1mo	$222,500	$136	63
73726 Desert Greens Dr N	0.50mi	3/2.0 (+1)	2,004 (+11%)	1mo	$460,000	$230	52
39759 Manzanita Dr	0.67mi	3/2.0 (+1)	1,940 (+8%)	1mo	$449,900	$232	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 · 1.6% rent growth · sell at horizon

5-year hold

• IRR: -6.1%
• Equity multiple: 0.78×
• Total profit: $-17,169
• Equity at exit: $41,003

10-year hold

• IRR: 1.5%
• Equity multiple: 1.10×
• Total profit: $7,833
• Equity at exit: $23,777

Cash invested: $77,000 (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 92260

• Rents YoY: 1.6%
• Active inventory: 545
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $3,548 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$400
• Vacancy / Maint / Mgmt: −$745
• Net cashflow: $503

Break-even live

Break-even rent $2,912

Max offer price $275,000

Occupancy floor 81%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38520 Poppet Canyon Dr Palm Desert, CA	2.0	2.0	1392	$3,700	$2.66	43d	1	0.17mi
73075 Buck Springs Dr Palm Desert, CA	2.0	2.0	1440	$1,950	$1.35	43d	1	0.20mi
73639 Cabazon Peak Dr Palm Desert, CA	2.0	2.0	1717	$2,400	$1.40	43d	1	0.28mi
73450 Country Club Dr #120 Palm Desert, CA	2.0	2.0	1856	$2,995	$1.61	11d	1	0.31mi
38250 Azalea Dr Palm Desert, CA	2.0	2.0	1806	$5,500	$3.05	43d	1	0.31mi
4162 Via Mattina Palm Desert, CA	2.0	2.0	1867	$2,950	$1.58	12d	1	0.44mi
4155 Via Mattina Unit 4155 Palm Desert, CA	2.0	3.0	2278	$3,500	$1.54	43d	1	0.46mi
4155 Via Mattina Palm Desert, CA	3.0	3.0	2278	$3,200	$1.40	5d	1	0.46mi
4155 Via Mattina Palm Desert, CA	3.0	3.0	2278	$3,200	$1.40	43d	1	0.46mi
3253 Via Giorna Palm Desert, CA	2.0	2.0	1961	$4,500	$2.29	24d	1	0.50mi
170 Via Tramonto Palm Desert, CA	3.0	2.0	1910	$3,900	$2.04	11d	1	0.50mi
170 Via Tramonto Palm Desert, CA	3.0	2.0	1910	$4,000	$2.09	43d	1	0.50mi
248 Strada Fortuna Palm Desert, CA	2.0	2.0	1400	$2,500	$1.79	43d	1	0.51mi
73843 Line Canyon Ln Palm Desert, CA	2.0	2.0	1570	$2,100	$1.34	11d	1	0.60mi
40064 Silktree Ct Palm Desert, CA	3.0	2.0	1712	$3,200	$1.87	24d	1	0.72mi
37677 Emerson Dr Palm Desert, CA	3.0	2.0	1896	$3,600	$1.90	43d	1	0.74mi
37772 Hollister Dr Palm Desert, CA	3.0	2.0	1271	$3,200	$2.52	43d	1	0.80mi
2701 Via Calderia Palm Desert, CA	2.0	2.0	1559	$2,850	$1.83	24d	1	0.80mi
3443 Via Leonardo Palm Desert, CA	3.0	2.0	2341	$4,000	$1.71	5d	1	0.82mi
40255 Sagewood Dr Palm Desert, CA	3.0	2.0	1712	$3,300	$1.93	18d	1	0.83mi
1701 Retreat Cir Palm Desert, CA	3.0	2.5	2034	$5,300	$2.61	43d	1	0.85mi
1803 Via San Martino Palm Desert, CA	2.0	2.0	1559	$3,900	$2.50	43d	1	0.88mi
122 Kavenish Dr Rancho Mirage, CA	3.0	3.0	2324	$5,500	$2.37	43d	1	0.89mi
40605 Ventana Ct Palm Desert, CA	3.0	2.5	2093	$4,500	$2.15	18d	1	0.90mi
73983 Munn Cir Palm Desert, CA	3.0	2.0	2064	$3,400	$1.65	43d	1	0.91mi
40592 Palm Ct Palm Desert, CA	3.0	2.5	2498	$5,000	$2.00	12d	1	0.92mi
105 Kavenish Dr Rancho Mirage, CA	3.0	3.0	1724	$4,200	$2.44	43d	1	0.92mi
40556 Clover Ln Palm Desert, CA	3.0	2.5	1880	$4,200	$2.23	43d	1	0.93mi
40560 Glenwood Ln Palm Desert, CA	3.0	3.0	2052	$6,500	$3.17	43d	1	0.93mi
41517 Armanac Ct Palm Desert, CA	3.0	2.0	1537	$3,400	$2.21	3d	1	0.95mi
302 Retreat Cir Palm Desert, CA	3.0	3.0	2184	$6,000	$2.75	43d	1	0.96mi
93 Kavenish Dr Rancho Mirage, CA	3.0	3.0	2136	$6,800	$3.18	3d	1	0.98mi
502 Retreat Cir Palm Desert, CA	3.0	3.0	2188	$5,200	$2.38	43d	1	0.99mi
72460 Rodeo Way Rancho Mirage, CA	2.0	2.0	1851	$2,500	$1.35	5d	1	1.01mi
73750 Calle Bisque Palm Desert, CA	3.0	2.0	1537	$6,500	$4.23	43d	1	1.01mi
83 Kavenish Dr Rancho Mirage, CA	3.0	3.0	2324	$8,500	$3.66	44d	1	1.02mi
83 Kavenish Dr Rancho Mirage, CA	3.0	3.0	2324	$8,500	$3.66	24d	1	1.02mi
72385 Beverly Way Rancho Mirage, CA	2.0	2.0	1851	$2,500	$1.35	18d	1	1.02mi
8 Las Cruces Ln Palm Desert, CA	2.0	2.0	1705	$5,000	$2.93	43d	1	1.08mi
195 Desert Lakes Dr Rancho Mirage, CA	2.0	2.0	2465	$6,000	$2.43	43d	1	1.09mi

HOA detail

• Monthly dues: $400 · $4,800/yr

Listing history 10 events

1. 2026-06-10
   status $275,000 Pending 22 DOM
2. 2026-06-09
   days on market $275,000 Active Under Contract 22 DOM
3. 2026-06-08
   days on market $275,000 Active Under Contract 21 DOM
4. 2026-06-07
   days on market $275,000 Active Under Contract 20 DOM
5. 2026-06-04
   days on market $275,000 Active Under Contract 17 DOM
6. 2026-06-03
   days on market $275,000 Active Under Contract 16 DOM
7. 2026-06-02
   days on market $275,000 Active Under Contract 15 DOM
8. 2026-06-01
   days on market $275,000 Active Under Contract 14 DOM
9. 2026-05-31
   days on market $275,000 Active Under Contract 13 DOM
10. 2026-05-18
    listed $275,000 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥114°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,581
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,406
• − Management: −$3,406
• − HOA: −$4,800
• − Depreciation: −$8,000
• Taxable income: $2,064
• Est. tax owed @ 24.0%: −$495
• After-tax cash flow: $5,538/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 · 18 photos

Fair 45/100 Moderate rehab

This home requires moderate repairs and maintenance, particularly in the kitchen, bathrooms, and flooring. Fresh paint and updates to these areas can significantly increase its value.

Repairs flagged

• Major Paint — Paint appears faded and needs repainting
• Major Kitchen — No photos of kitchen
• Major Bathrooms — No photos of bathrooms
• Major Flooring — No photos of flooring

Value-add opportunities

• Resale Paint — Fresh paint can enhance curb appeal and home value
• Resale Kitchen and Bathrooms — Upgraded kitchens and bathrooms can significantly increase home value
• Resale Flooring — New flooring can improve the overall look and feel of the home

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Paint appears faded and needs repainting	Major	$15,000–50,000
Kitchen · No photos of kitchen	Major	$15,000–50,000
Bathrooms · No photos of bathrooms	Major	$15,000–50,000
Flooring · No photos of flooring	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale Paint — Fresh paint can enhance curb appeal and home value ↑
• Resale Kitchen and Bathrooms — Upgraded kitchens and bathrooms can significantly increase home value ↑
• Resale Flooring — New flooring can improve the overall look and feel of the home ↑

ⓘ 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: Desert Sands Unified
• NCES district ID: 0611110
• Math proficiency: 31% ▼ -4.00%
• Reading proficiency: 56% ▲ 7.00%
• Median HH income: $54,957
• Composite: 37.77/100
• National rank: #4346
• State rank: #199 of 517 in CA

Livability — Palm Desert

• Score: 51/100
• State rank: #1050
• US rank: #25164

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Desert, CA
• County: Riverside County · 2,287,001 people
• City population: 58,615
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 30,523
• Household income: $70,091
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 1734.0

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 White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 31% Two or more races 20% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Italian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 18% · Canada, South Korea, Vietnam
• Languages at home: 73% English-only · Spanish 22% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -364.94%
• Current HPI: 294.9425
• Rent YoY: ▲ 1.60%
• 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

1 event — show timeline

• 2026-05-18 Listed $275,000 GPSMLS