15500 Bubbling Wells Rd #114 · Garnet, CA 92240

$20,000

2 bd · 1.5 ba · 800 sqft · Manufactured public records · 560 Days on market

Built 1979 $25/sqft · 54% below area ↓ 33% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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 MLS

Discover this charming 2-bedroom, 1.75-bathroom double-wide manufactured home in the highly desirable Hidden Springs Country Club, a 55+ community in Desert Hot Springs. Nestled on the golf course, this home offers beautiful golf course mountain views and a tranquil lifestyle perfect for retirees and active adults. With a newer roof and a priced to sell in "as-is" condition, this property is an excellent opportunity to customize and make it your own. Living at Hidden Springs means enjoying an abundance of amenities designed for relaxation and recreation. Residents can take advantage of the 9-hole golf course with a pro shop, as well as a clubhouse and recreation room that host community events and social gatherings. Stay active with the fitness center, swimming pool, hot tub/spa, and pickleball and tennis courts. The dog park and community garden offer spaces to connect with neighbors and the outdoors, while the picnic and BBQ areas provide the perfect setting for dining under the desert sky. For added convenience and security, the community features security gates and surveillance cameras. This vibrant, resort-style community is a haven for those seeking an active and fulfilling lifestyle. Don’t miss your chance to become part of it—schedule your showing today!

Key facts

• Fitness center
• Newer roof
• Swimming pool

Tags

• DOUBLE-WIDE MANUFACTURED HOME
• GOLF COURSE MOUNTAIN VIEWS
• NEWER ROOF
• 9-HOLE GOLF COURSE
• FITNESS CENTER
• SWIMMING POOL

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $20k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $20k).
• Recommended offer: $18k (12.0% below list) — sets the bar for market timing.
• Cap rate 101.8% 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; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• At $2,165/mo this rent would consume 48% 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 $138 of loan paydown is wiped out by about $600 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 560 days — a 12% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $10k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo.
• 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 $17,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 560 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 10.82% ✓
• Cap rate: 101.84%
• Cash-on-cash: 341.24%
• DSCR: 16.18
• GRM: 0.8

CMA / ARV

• ARV (median comp): $43,680
• List price: $20,000
• Delta: -54.21%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15500 Bubbling Wells Rd #231	0.00mi	2/1.5	792 (-1%)	13mo	$30,000	$38	87
15500 Bubbling Wls #50	0.00mi	2/2.0	800 (0%)	22mo	$55,000	$69	79
15500 Bubbling Wells Rd #159	0.00mi	2/1.0	784 (-2%)	19mo	$29,000	$37	79
15500 Bubbling Wells Rd #2	0.00mi	2/1.0	840 (+5%)	16mo	$24,900	$30	76
15500 Bubbling Wls #210	0.13mi	2/1.0	720 (-10%)	3mo	$34,500	$48	73
15500 Bubbling Wells Road Rd #6	0.12mi	2/1.0	728 (-9%)	11mo	$18,000	$25	68
15500 Bubbling Wells Rd #216	0.02mi	2/2.0	744 (-7%)	21mo	$35,000	$47	68
15500 Bubbling Wells Rd #81	0.00mi	2/2.0	900 (+12%)	18mo	$55,000	$61	62
15500 Bubbling Wells Rd #273	0.13mi	2/2.0	868 (+8%)	22mo	$67,900	$78	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 · 3.66% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 17.42×
• Total profit: $91,937
• Equity at exit: $2,982

10-year hold

• IRR: —
• Equity multiple: 37.97×
• Total profit: $207,033
• Equity at exit: $1,729

Cash invested: $5,600 (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: 0.8×

Monthly cashflow live

• Estimated rent: $2,165 high
• Mortgage (P&I): −$105
• Tax from tax record: −$5 /mo · $55/yr
• Insurance: −$8
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $1,470

Break-even live

Break-even rent $304

Max offer price $20,000

Occupancy floor 27%

Sensitivity live

Price	-10% $1,481	-5% $1,476	+0% $1,470	+5% $1,464	+10% $1,459
Rent	-10% $1,299	-5% $1,385	+0% $1,470	+5% $1,556	+10% $1,641
Rate	-1.0pp $1,480	-0.5pp $1,475	base $1,470	+0.5pp $1,465	+1.0pp $1,460

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: $5,000
• Closing costs: $600
• 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
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
15935 Mary Cir Desert Hot Springs, CA	1.0	1.0	550	$1,350	$2.45	19d	1	1.21mi
13079 Eliseo Rd Apt 4 Desert Hot Springs, CA	2.0	1.0	648	$1,500	$2.31	22d	1	1.28mi
13079 Eliseo Rd Unit 2 Desert Hot Springs, CA	2.0	1.0	648	$1,495	$2.31	22d	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	3d	1	1.48mi

Listing history 19 events

1. 2026-06-21
   days on market $20,000 Active 560 DOM
2. 2026-06-18
   days on market $20,000 Active 557 DOM
3. 2026-06-17
   days on market $20,000 Active 556 DOM
4. 2026-06-16
   days on market $20,000 Active 555 DOM
5. 2026-06-15
   days on market $20,000 Active 554 DOM
6. 2026-06-13
   days on market $20,000 Active 552 DOM
7. 2026-06-13
   days on market $20,000 Active 551 DOM
8. 2026-06-09
   days on market $20,000 Active 548 DOM
9. 2026-06-08
   days on market $20,000 Active 547 DOM
10. 2026-06-07
    days on market $20,000 Active 546 DOM
11. 2026-06-04
    days on market $20,000 Active 543 DOM
12. 2026-06-03
    days on market $20,000 Active 542 DOM
13. 2026-06-02
    days on market $20,000 Active 541 DOM
14. 2026-06-01
    days on market $20,000 Active 540 DOM
15. 2026-05-31
    days on market $20,000 Active 539 DOM
16. 2026-04-01
    price $20,000 1304-char remark

    Show marketing remark (1304 chars)

    Discover this charming 2-bedroom, 1.75-bathroom double-wide manufactured home in the highly desirable Hidden Springs Country Club, a 55+ community in Desert Hot Springs. Nestled on the golf course, this home offers beautiful golf course mountain views and a tranquil lifestyle perfect for retirees and active adults. With a newer roof and a priced to sell in "as-is" condition, this property is an excellent opportunity to customize and make it your own. Living at Hidden Springs means enjoying an abundance of amenities designed for relaxation and recreation. Residents can take advantage of the 9-hole golf course with a pro shop, as well as a clubhouse and recreation room that host community events and social gatherings. Stay active with the fitness center, swimming pool, hot tub/spa, and pickleball and tennis courts. The dog park and community garden offer spaces to connect with neighbors and the outdoors, while the picnic and BBQ areas provide the perfect setting for dining under the desert sky. For added convenience and security, the community features security gates and surveillance cameras. This vibrant, resort-style community is a haven for those seeking an active and fulfilling lifestyle. Don’t miss your chance to become part of it—schedule your showing today!

17. 2025-10-06
    status Active 1304-char remark

    Show marketing remark (1304 chars)

    Discover this charming 2-bedroom, 1.75-bathroom double-wide manufactured home in the highly desirable Hidden Springs Country Club, a 55+ community in Desert Hot Springs. Nestled on the golf course, this home offers beautiful golf course mountain views and a tranquil lifestyle perfect for retirees and active adults. With a newer roof and a priced to sell in "as-is" condition, this property is an excellent opportunity to customize and make it your own. Living at Hidden Springs means enjoying an abundance of amenities designed for relaxation and recreation. Residents can take advantage of the 9-hole golf course with a pro shop, as well as a clubhouse and recreation room that host community events and social gatherings. Stay active with the fitness center, swimming pool, hot tub/spa, and pickleball and tennis courts. The dog park and community garden offer spaces to connect with neighbors and the outdoors, while the picnic and BBQ areas provide the perfect setting for dining under the desert sky. For added convenience and security, the community features security gates and surveillance cameras. This vibrant, resort-style community is a haven for those seeking an active and fulfilling lifestyle. Don’t miss your chance to become part of it—schedule your showing today!

18. 2025-09-30
    historical 1304-char remark

    Show marketing remark (1304 chars)

    Discover this charming 2-bedroom, 1.75-bathroom double-wide manufactured home in the highly desirable Hidden Springs Country Club, a 55+ community in Desert Hot Springs. Nestled on the golf course, this home offers beautiful golf course mountain views and a tranquil lifestyle perfect for retirees and active adults. With a newer roof and a priced to sell in "as-is" condition, this property is an excellent opportunity to customize and make it your own. Living at Hidden Springs means enjoying an abundance of amenities designed for relaxation and recreation. Residents can take advantage of the 9-hole golf course with a pro shop, as well as a clubhouse and recreation room that host community events and social gatherings. Stay active with the fitness center, swimming pool, hot tub/spa, and pickleball and tennis courts. The dog park and community garden offer spaces to connect with neighbors and the outdoors, while the picnic and BBQ areas provide the perfect setting for dining under the desert sky. For added convenience and security, the community features security gates and surveillance cameras. This vibrant, resort-style community is a haven for those seeking an active and fulfilling lifestyle. Don’t miss your chance to become part of it—schedule your showing today!

19. 2024-12-02
    listed $30,000 Active 1304-char remark

    Show marketing remark (1304 chars)

    Discover this charming 2-bedroom, 1.75-bathroom double-wide manufactured home in the highly desirable Hidden Springs Country Club, a 55+ community in Desert Hot Springs. Nestled on the golf course, this home offers beautiful golf course mountain views and a tranquil lifestyle perfect for retirees and active adults. With a newer roof and a priced to sell in "as-is" condition, this property is an excellent opportunity to customize and make it your own. Living at Hidden Springs means enjoying an abundance of amenities designed for relaxation and recreation. Residents can take advantage of the 9-hole golf course with a pro shop, as well as a clubhouse and recreation room that host community events and social gatherings. Stay active with the fitness center, swimming pool, hot tub/spa, and pickleball and tennis courts. The dog park and community garden offer spaces to connect with neighbors and the outdoors, while the picnic and BBQ areas provide the perfect setting for dining under the desert sky. For added convenience and security, the community features security gates and surveillance cameras. This vibrant, resort-style community is a haven for those seeking an active and fulfilling lifestyle. Don’t miss your chance to become part of it—schedule your showing today!

ⓘ 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: $55 · $5/mo
• Projected year-2 tax: $152 · $13/mo
• Expected delta: +$97/yr (+$8/mo · 174.2%)

ⓘ 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: $25,979
• − Mortgage interest: −$1,120
• − Property taxes: −$55
• − Insurance: −$1,568
• − Repairs & maintenance: −$2,078
• − Management: −$2,078
• − Depreciation: −$582
• Taxable income: $18,497
• Est. tax owed @ 24.0%: −$4,439
• After-tax cash flow: $13,203/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

-33.3% since first listed

4 events — show timeline

• 2026-04-01 Price Changed $20,000 CRMLS
• 2025-10-06 Relisted — CRMLS
• 2025-09-30 Listing Removed — CRMLS
• 2024-12-02 Listed $30,000 CRMLS

Property tax history

-8.4%/yr

Latest (2025): $55 · +0.7% YoY. Source: county tax records.