15500 Bubbling Wells Rd #164 · Garnet, CA 92240

$98,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 122 Days on market

Built 1983 $85/sqft · 42% above area Est $66k · 49% over $863/mo HOA · 37% 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 +27.8/30.0
• 1% rule +10.0/10.0
• DSCR +9.8/10.0
• Rent growth +3.4/5.0
• Schools +2.7/10.0
• Livability +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wake up every morning to sweeping golf course views right outside your door. Welcome to a rare opportunity in the highly sought-after Hidden Springs 55+ community in Desert Hot Springs… where lifestyle, comfort, and location come together beautifully. This updated 2-bedroom, 2-bath home sits directly on the 9-hole golf course and features a spacious wrap-around porch perfect for sipping your morning coffee, hosting friends at sunset, or simply soaking in the peaceful desert scenery. Step inside and feel the difference. The open-concept layout is filled with natural light and thoughtfully upgraded throughout, including luxury vinyl flooring, fresh paint, modern lighting, and updated ceiling fans, giving the home a clean, contemporary feel from the moment you walk in. The fully remodeled kitchen is a true showstopper featuring quartz countertops, sleek new cabinetry, stainless steel appliances, a designer backsplash, and a new sink & garbage disposal. Whether you're entertaining or enjoying a quiet night in, this space was designed to impress. The spacious primary suite offers a large walk-in closet and a private retreat feel, while both bathrooms have been beautifully refreshed with new vanities, updated flooring, and modern fixtures. And here’s the peace of mind you'll love - the major upgrades are already done for you, including a new HVAC system (April 2023) and a new water heater. Outside, your updated wrap-around porch with new carpeting extends your living space and invites you to fully enjoy indoor-outdoor desert living. But the lifestyle doesn’t stop at your front door. Hidden Springs is a gated, resort-style community offering pools, spa, sauna, pickleball and tennis courts, a dog park, and a beautifully maintained golf course woven throughout the neighborhood. Homes like this - on the golf course, fully updated, and move-in ready rarely hit the market.   Don’t wait. Call today to schedule a showing and experience why Space #164 could be your perfect desert retreat.

Key facts

• Wrap-around porch
• Desert retreat
• 9-hole golf course

Tags

• DESERT RETREAT
• 9-HOLE GOLF COURSE
• WRAP-AROUND PORCH
• OPEN-CONCEPT LIVING AREA
• LUXURY VINYL FLOORING
• FULLY REMODELED KITCHEN

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $98k.

Deal economics

• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $86k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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); 515 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% 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 $2,330/mo this rent would consume 52% 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 $678 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 2 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

• Watch-outs: flood insurance adds $122/mo; HOA is 37% 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 $86,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.38% ✓
• Cap rate: 9.97%
• Cash-on-cash: 13.13%
• DSCR: 1.58
• GRM: 3.5

CMA / ARV

• ARV (median comp): $65,962
• List price: $98,000
• Delta: 48.57%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15500 Bubbling Wls #53	0.00mi	2/2.0	1,152 (0%)	20mo	$109,000	$95	83
15500 Bubbling Wells Rd #41	0.02mi	2/2.0	1,152 (0%)	21mo	$35,000	$30	81
15500 Bubbling Wells Rd #108	0.13mi	2/2.0	1,296 (+12%)	17mo	$95,000	$73	59
15750 Via Montana	0.69mi	3/2.0 (+1)	1,056 (-8%)	22mo	$335,000	$317	31

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: -2.2%
• Equity multiple: 0.91×
• Total profit: $-2,351
• Equity at exit: $14,612

10-year hold

• IRR: 9.4%
• Equity multiple: 1.79×
• Total profit: $21,622
• Equity at exit: $8,473

Cash invested: $27,440 (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: 3.5×

Monthly cashflow live

• Estimated rent: $2,330 high
• Mortgage (P&I): −$514
• Tax est. 1.5%: −$122 /mo · $1,470/yr
• Insurance: −$41
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$863
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $178

Break-even live

Break-even rent $2,104

Max offer price $98,000

Occupancy floor 87%

Sensitivity live

Price	-10% $246	-5% $212	+0% $178	+5% $144	+10% $110
Rent	-10% $-6	-5% $86	+0% $178	+5% $270	+10% $362
Rate	-1.0pp $227	-0.5pp $203	base $178	+0.5pp $153	+1.0pp $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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15490 Avenida Rambla Desert Hot Springs, CA	3.0	2.0	1088	$2,600	$2.39	44d	1	0.19mi
15490 Avenue Rambla Unit NA Desert Hot Springs, CA	3.0	2.0	1088	$2,600	$2.39	25d	1	0.19mi
15300 Palm Dr Desert Hot Springs, CA	3.0	2.0	1458	$2,800	$1.92	44d	1	0.99mi
13895 Luis Dr Desert Hot Springs, CA	2.0	1.0	814	$1,800	$2.21	44d	1	1.09mi
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
13848 Scenic Crest Cir Unit 2 Desert Hot Springs, CA	2.0	1.0	700	$1,800	$2.57	25d	1	1.30mi
12920 Inaja St Unit C Desert Hot Springs, CA	2.0	2.0	1000	$1,895	$1.90	44d	1	1.38mi
66590 Joseph Way Unit B Desert Hot Springs, CA	2.0	1.0	785	$2,145	$2.73	0d	1	1.44mi
13405 Ocotillo Rd Desert Hot Springs, CA	2.0	1.0	864	$1,750	$2.03	2d	1	1.48mi

HOA detail

• Monthly dues: $863 · $10,356/yr
• Likely covers: watertrashpoolsecurity

Listing history 16 events

1. 2026-06-18
   days on market $98,000 Active 122 DOM
2. 2026-06-17
   days on market $98,000 Active 121 DOM
3. 2026-06-16
   days on market $98,000 Active 120 DOM
4. 2026-06-15
   days on market $98,000 Active 119 DOM
5. 2026-06-13
   days on market $98,000 Active 117 DOM
6. 2026-06-13
   days on market $98,000 Active 116 DOM
7. 2026-06-09
   days on market $98,000 Active 113 DOM
8. 2026-06-08
   days on market $98,000 Active 112 DOM
9. 2026-06-07
   days on market $98,000 Active 111 DOM
10. 2026-06-04
    days on market $98,000 Active 108 DOM
11. 2026-06-03
    days on market $98,000 Active 107 DOM
12. 2026-06-02
    days on market $98,000 Active 106 DOM
13. 2026-06-01
    days on market $98,000 Active 105 DOM
14. 2026-05-31
    days on market $98,000 Active 104 DOM
15. 2026-05-14
    status Active 2044-char remark

    Show marketing remark (2044 chars)

    Wake up every morning to sweeping golf course views right outside your door. Welcome to a rare opportunity in the highly sought-after Hidden Springs 55+ community in Desert Hot Springs… where lifestyle, comfort, and location come together beautifully. This updated 2-bedroom, 2-bath home sits directly on the 9-hole golf course and features a spacious wrap-around porch perfect for sipping your morning coffee, hosting friends at sunset, or simply soaking in the peaceful desert scenery. Step inside and feel the difference. The open-concept layout is filled with natural light and thoughtfully upgraded throughout, including luxury vinyl flooring, fresh paint, modern lighting, and updated ceiling fans, giving the home a clean, contemporary feel from the moment you walk in. The fully remodeled kitchen is a true showstopper featuring quartz countertops, sleek new cabinetry, stainless steel appliances, a designer backsplash, and a new sink & garbage disposal. Whether you're entertaining or enjoying a quiet night in, this space was designed to impress. The spacious primary suite offers a large walk-in closet and a private retreat feel, while both bathrooms have been beautifully refreshed with new vanities, updated flooring, and modern fixtures. And here’s the peace of mind you'll love - the major upgrades are already done for you, including a new HVAC system (April 2023) and a new water heater. Outside, your updated wrap-around porch with new carpeting extends your living space and invites you to fully enjoy indoor-outdoor desert living. But the lifestyle doesn’t stop at your front door. Hidden Springs is a gated, resort-style community offering pools, spa, sauna, pickleball and tennis courts, a dog park, and a beautifully maintained golf course woven throughout the neighborhood. Homes like this - on the golf course, fully updated, and move-in ready rarely hit the market.   Don’t wait. Call today to schedule a showing and experience why Space #164 could be your perfect desert retreat.

16. 2026-02-13
    listed $98,000 Active 2044-char remark

    Show marketing remark (2044 chars)

    Wake up every morning to sweeping golf course views right outside your door. Welcome to a rare opportunity in the highly sought-after Hidden Springs 55+ community in Desert Hot Springs… where lifestyle, comfort, and location come together beautifully. This updated 2-bedroom, 2-bath home sits directly on the 9-hole golf course and features a spacious wrap-around porch perfect for sipping your morning coffee, hosting friends at sunset, or simply soaking in the peaceful desert scenery. Step inside and feel the difference. The open-concept layout is filled with natural light and thoughtfully upgraded throughout, including luxury vinyl flooring, fresh paint, modern lighting, and updated ceiling fans, giving the home a clean, contemporary feel from the moment you walk in. The fully remodeled kitchen is a true showstopper featuring quartz countertops, sleek new cabinetry, stainless steel appliances, a designer backsplash, and a new sink & garbage disposal. Whether you're entertaining or enjoying a quiet night in, this space was designed to impress. The spacious primary suite offers a large walk-in closet and a private retreat feel, while both bathrooms have been beautifully refreshed with new vanities, updated flooring, and modern fixtures. And here’s the peace of mind you'll love - the major upgrades are already done for you, including a new HVAC system (April 2023) and a new water heater. Outside, your updated wrap-around porch with new carpeting extends your living space and invites you to fully enjoy indoor-outdoor desert living. But the lifestyle doesn’t stop at your front door. Hidden Springs is a gated, resort-style community offering pools, spa, sauna, pickleball and tennis courts, a dog park, and a beautifully maintained golf course woven throughout the neighborhood. Homes like this - on the golf course, fully updated, and move-in ready rarely hit the market.   Don’t wait. Call today to schedule a showing and experience why Space #164 could be your perfect desert retreat.

ⓘ 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 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: $27,956
• − Mortgage interest: −$5,490
• − Property taxes: −$1,470
• − Insurance: −$1,958
• − Repairs & maintenance: −$2,237
• − Management: −$2,237
• − HOA: −$10,356
• − Depreciation: −$2,851
• Taxable income: $1,359
• Est. tax owed @ 24.0%: −$326
• After-tax cash flow: $1,809/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

2 events — show timeline

• 2026-05-14 Relisted — CRMLS
• 2026-02-13 Listed $98,000 CRMLS

Property tax history

-5.0%/yr

Latest (2025): $185 · -1.3% YoY. Source: county tax records.