22840 Sterling Ave #93 · Palm Springs, CA 92262

$137,500

3 bd · 2.0 ba · 1,164 sqft · Manufactured · 29 Days on market

Built 1996 Good condition Est $150k · 8% under $825/mo HOA · 29% 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 +28.7/30.0
• ARV discount +11.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Rent growth +2.6/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this fantastic mobile home in Palm Springs. This well-maintained property features 3 bedrooms, 2 bathrooms, spanning 1164 sqft, built in 1996. This 1-story home offers city water and sewer services, carport parking, a fireplace, and a recently installed HVAC system. The gas water heater is just 2 years old, ensuring modern functionality. Lot Rent is $793. This home is a great investment opportunity, located in a high-demand area with a flourishing real estate market. Its recent updates, including the brand-new HVAC system, make it a desirable choice for those looking to expand their rental portfolio or find a comfortable residence. Don't miss out on this prime property. Explore the potential and charm of 22840 Sterling Ave #93!

Key facts

• Gated community
• Spa
• Pool

Tags

• SAN JACINTO MOUNTAIN VIEWS
• CORNER LOT LOCATION
• GATED COMMUNITY
• POOL
• SPA
• PLAYGROUND

Property features AI

Finance

• Other: Listing accepts Conventional, VA, FHA, and Cash financing; Possession at close of escrow (subject to tenants' rights)
• Financial info: Land is leasehold; Annual land lease amount listed as $9,900; Monthly space rent for the park: $825
• HOA & community: Monthly association fee of $825; Association amenities include clubhouse, fitness center, recreation room, banquet facilities, billiard room, paddle tennis, guest parking; Association provides clubhouse access; Managed by Vanessa Martinez (contact via association email)

Exterior

• Parking: Total of 4 parking spaces; 2 covered spaces (attached carport); 2 carport spaces; On-street parking available
• Security: Gated community; Resident manager on site; Controlled access
• Utilities: PUD: Yes; Sewer: Unknown
• Home design: Detached double-wide mobile home; Traditional style; One story; Front door faces north
• Construction: Wood siding exterior; Manufactured home built in 1996; Double-wide mobile home
• Exterior features: Located close to clubhouse and park; Corner lot; Covered patio; Fenced with wood fencing; Accessory building (storage shed included in sale); Community pool and heated in-ground spa with safety gate; Community mailbox

Interior

• Kitchen: Galley kitchen; Remodeled kitchen; Skylight in kitchen; Gas range
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms; Remodeled baths with shower and tub
• Heating & cooling: Central heating (natural gas); Air conditioning
• Interior features: Open floorplan; Vaulted ceilings; Ground-level entry with no steps; Unfurnished; Skylights / skylight window treatments
• Laundry & utility: Dedicated laundry area

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $138k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $332 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $138k).
• Recommended offer: $135k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.3% 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: crime F, cost of living F, health & safety 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.
• Zoned schools: Vista Del Monte Elementary (482 students, 96% FRL); Palm Springs High (math 30% / reading 51%, grade F, #508 of 1,170 statewide, top 44%, 1,584 students, 97% FRL) — zoned schools average 97% FRL vs 73% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 647 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• At $2,826/mo this rent would consume 47% of the median local household income ($72k/yr) (locally 1866% 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 $951 of loan paydown is wiped out by about $4k 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 29 days — a 2% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $80k; list at $138k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; HOA is 29% of rent.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,437 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.06% ✓
• Cap rate: 10.28%
• Cash-on-cash: 14.25%
• DSCR: 1.63
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $150,156
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22840 Sterling Ave #142	0.10mi	3/2.0	1,188 (+2%)	7mo	$115,000	$97	86
22840 Sterling Ave #4	0.10mi	3/2.0	1,164 (0%)	11mo	$150,000	$129	86
22840 Sterling Ave #35	0.10mi	3/2.0	1,188 (+2%)	10mo	$70,000	$59	84
22840 Sterling Ave #73	0.10mi	3/2.0	1,188 (+2%)	15mo	$153,000	$129	80
22840 Sterling Ave #186	0.10mi	3/2.0	1,296 (+11%)	7mo	$181,000	$140	71

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 · 0.46% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.80×
• Total profit: $-7,548
• Equity at exit: $20,502

10-year hold

• IRR: -2.0%
• Equity multiple: 0.89×
• Total profit: $-4,263
• Equity at exit: $11,888

Cash invested: $38,500 (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 92262

• Rents YoY: 0.5%
• Active inventory: 647
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,826 medium
• Mortgage (P&I): −$721
• Tax est. 1.5%: −$172 /mo · $2,062/yr
• Insurance: −$57
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$825
• Vacancy / Maint / Mgmt: −$593
• Net cashflow: $332

Break-even live

Break-even rent $2,406

Max offer price $137,500

Occupancy floor 83%

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: $34,375
• Closing costs: $4,125
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22840 Sterling Ave #147 Palm Springs, CA	3.0	2.0	1188	$2,650	$2.23	2d	1	0.13mi

HOA detail

• Monthly dues: $825 · $9,900/yr
• Likely covers: watersewergas

Listing history 22 events

1. 2026-06-18
   days on market $137,500 Active 29 DOM
2. 2026-06-17
   days on market $137,500 Active 28 DOM
3. 2026-06-16
   days on market $137,500 Active 27 DOM
4. 2026-06-15
   days on market $137,500 Active 26 DOM
5. 2026-06-13
   days on market $137,500 Active 24 DOM
6. 2026-06-13
   days on market $137,500 Active 23 DOM
7. 2026-06-09
   days on market $137,500 Active 20 DOM
8. 2026-06-08
   days on market $137,500 Active 19 DOM
9. 2026-06-07
   days on market $137,500 Active 18 DOM
10. 2026-06-04
    days on market $137,500 Active 15 DOM
11. 2026-06-03
    days on market $137,500 Active 14 DOM
12. 2026-06-02
    days on market $137,500 Active 13 DOM
13. 2026-06-01
    days on market $137,500 Active 12 DOM
14. 2026-05-31
    days on market $137,500 Active 11 DOM
15. 2026-05-02
    listed $137,500 Active
16. 2024-03-27
    soldstatus $80,000 Sold 748-char remark

    Show marketing remark (748 chars)

    Welcome to this fantastic mobile home in Palm Springs. This well-maintained property features 3 bedrooms, 2 bathrooms, spanning 1164 sqft, built in 1996. This 1-story home offers city water and sewer services, carport parking, a fireplace, and a recently installed HVAC system. The gas water heater is just 2 years old, ensuring modern functionality. Lot Rent is $793. This home is a great investment opportunity, located in a high-demand area with a flourishing real estate market. Its recent updates, including the brand-new HVAC system, make it a desirable choice for those looking to expand their rental portfolio or find a comfortable residence. Don't miss out on this prime property. Explore the potential and charm of 22840 Sterling Ave #93!

17. 2024-02-28
    historical Backup Offers Accepted 748-char remark

    Show marketing remark (748 chars)

    Welcome to this fantastic mobile home in Palm Springs. This well-maintained property features 3 bedrooms, 2 bathrooms, spanning 1164 sqft, built in 1996. This 1-story home offers city water and sewer services, carport parking, a fireplace, and a recently installed HVAC system. The gas water heater is just 2 years old, ensuring modern functionality. Lot Rent is $793. This home is a great investment opportunity, located in a high-demand area with a flourishing real estate market. Its recent updates, including the brand-new HVAC system, make it a desirable choice for those looking to expand their rental portfolio or find a comfortable residence. Don't miss out on this prime property. Explore the potential and charm of 22840 Sterling Ave #93!

18. 2024-02-15
    price $99,000 748-char remark

    Show marketing remark (748 chars)

    Welcome to this fantastic mobile home in Palm Springs. This well-maintained property features 3 bedrooms, 2 bathrooms, spanning 1164 sqft, built in 1996. This 1-story home offers city water and sewer services, carport parking, a fireplace, and a recently installed HVAC system. The gas water heater is just 2 years old, ensuring modern functionality. Lot Rent is $793. This home is a great investment opportunity, located in a high-demand area with a flourishing real estate market. Its recent updates, including the brand-new HVAC system, make it a desirable choice for those looking to expand their rental portfolio or find a comfortable residence. Don't miss out on this prime property. Explore the potential and charm of 22840 Sterling Ave #93!

19. 2024-02-07
    price $105,000 748-char remark

    Show marketing remark (748 chars)

    Welcome to this fantastic mobile home in Palm Springs. This well-maintained property features 3 bedrooms, 2 bathrooms, spanning 1164 sqft, built in 1996. This 1-story home offers city water and sewer services, carport parking, a fireplace, and a recently installed HVAC system. The gas water heater is just 2 years old, ensuring modern functionality. Lot Rent is $793. This home is a great investment opportunity, located in a high-demand area with a flourishing real estate market. Its recent updates, including the brand-new HVAC system, make it a desirable choice for those looking to expand their rental portfolio or find a comfortable residence. Don't miss out on this prime property. Explore the potential and charm of 22840 Sterling Ave #93!

20. 2024-01-30
    price $107,500 748-char remark

    Show marketing remark (748 chars)

    Welcome to this fantastic mobile home in Palm Springs. This well-maintained property features 3 bedrooms, 2 bathrooms, spanning 1164 sqft, built in 1996. This 1-story home offers city water and sewer services, carport parking, a fireplace, and a recently installed HVAC system. The gas water heater is just 2 years old, ensuring modern functionality. Lot Rent is $793. This home is a great investment opportunity, located in a high-demand area with a flourishing real estate market. Its recent updates, including the brand-new HVAC system, make it a desirable choice for those looking to expand their rental portfolio or find a comfortable residence. Don't miss out on this prime property. Explore the potential and charm of 22840 Sterling Ave #93!

21. 2024-01-25
    price $120,000 748-char remark

    Show marketing remark (748 chars)

    Welcome to this fantastic mobile home in Palm Springs. This well-maintained property features 3 bedrooms, 2 bathrooms, spanning 1164 sqft, built in 1996. This 1-story home offers city water and sewer services, carport parking, a fireplace, and a recently installed HVAC system. The gas water heater is just 2 years old, ensuring modern functionality. Lot Rent is $793. This home is a great investment opportunity, located in a high-demand area with a flourishing real estate market. Its recent updates, including the brand-new HVAC system, make it a desirable choice for those looking to expand their rental portfolio or find a comfortable residence. Don't miss out on this prime property. Explore the potential and charm of 22840 Sterling Ave #93!

22. 2024-01-24
    listed $135,000 Active 748-char remark

    Show marketing remark (748 chars)

    Welcome to this fantastic mobile home in Palm Springs. This well-maintained property features 3 bedrooms, 2 bathrooms, spanning 1164 sqft, built in 1996. This 1-story home offers city water and sewer services, carport parking, a fireplace, and a recently installed HVAC system. The gas water heater is just 2 years old, ensuring modern functionality. Lot Rent is $793. This home is a great investment opportunity, located in a high-demand area with a flourishing real estate market. Its recent updates, including the brand-new HVAC system, make it a desirable choice for those looking to expand their rental portfolio or find a comfortable residence. Don't miss out on this prime property. Explore the potential and charm of 22840 Sterling Ave #93!

ⓘ 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 8/10 Severe FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,912
• − Mortgage interest: −$7,702
• − Property taxes: −$2,062
• − Insurance: −$2,190
• − Repairs & maintenance: −$2,713
• − Management: −$2,713
• − HOA: −$9,900
• − Depreciation: −$4,000
• Taxable income: $2,631
• Est. tax owed @ 24.0%: −$631
• After-tax cash flow: $3,353/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 · 6 photos

Good 80/100 Cosmetic rehab

This well-maintained manufactured home in Santiago Sun Canyon Estates offers a prime location with modern amenities and a great investment opportunity.

Value-add opportunities

• Both Playground equipment — Attracts families and increases property value
• Both Landscaping improvements — Enhances curb appeal and property value
• Both Playground maintenance — Keeps the area attractive and functional

Renovation cost estimate screening

Value-add ROI direction

• Both Playground equipment — Attracts families and increases property value ↑
• Both Landscaping improvements — Enhances curb appeal and property value ↑
• Both Playground maintenance — Keeps the area attractive and functional ↑

ⓘ 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

• County: Riverside County · 2,287,001 people
• City population: 46,786
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 26,887
• Household income: $71,672
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 1866.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 58% Hispanic / Latino 27% Two or more races 13% Black 9% Asian 3%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Lithuanian 3% Slovak 3% Italian 2%
• Foreign-born: 17% · Canada, China
• Languages at home: 75% English-only · Spanish 19% French/Haitian/Cajun 1% German/W. Germanic 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: ▼ -1082.67%
• Current HPI: 434.0524
• Rent YoY: ▲ 0.46%
• 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

+1.9% since first listed

8 events — show timeline

• 2026-05-02 Listed $137,500 GPSMLS
• 2024-03-27 Sold (MLS) $80,000 TheMLS
• 2024-02-28 Contingent — TheMLS
• 2024-02-15 Price Changed $99,000 TheMLS
• 2024-02-07 Price Changed $105,000 TheMLS
• 2024-01-30 Price Changed $107,500 TheMLS
• 2024-01-25 Price Changed $120,000 TheMLS
• 2024-01-24 Listed $135,000 TheMLS