Is 22840 Sterling Ave #93 in Palm Springs, CA a good investment?

CashFlowRE grades it D+ with a 5.0% cap rate and $-268/mo modeled cash flow at a $129,000 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 22840 Sterling Ave #93?

The modeled cap rate is 5.0% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $1,992/month, from CashFlowRE's rent model.

D+ Composite 46.74

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).

ARV discount +14.6/15.0
1% rule +10.0/10.0
Cash flow +7.8/30.0
Schools +4.0/10.0
Condition / age +4.0/5.0
Livability +3.3/5.0
Rent growth +2.6/5.0
Appreciation +2.5/10.0
DSCR +1.9/10.0
Manufactured-home adj. -4.1

$129,000

22840 Sterling Ave #93 · Palm Springs, CA 92262

3 bd · 2.0 ba · 1,164 sqft · Manufactured · 126 Days on market

Manufactured home Built 1996 Good condition $111/sqft · 16% below area Est $153k · 16% under $825/mo HOA · 41% of rent ↓ 4% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

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

What this means for you Summary

Snapshot

This is a 3-bed/2.0-bath manufactured listed at $129k. Condition is rated good.

Deal economics

At list price, monthly cash flow is $-268 ($-3k/yr) — negative.
To cash-flow at today's rent, offer at most $90k (30.0% below list).
Meets the 1% rule at list price ($2k rent vs $129k).
Recommended offer: $90k (30.0% below list) — sets the bar for cash-flow.
Cap rate 5.0% vs local median 2.6% 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); Raymond Cree Middle (708 students, 98% 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 (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
Market conditions: Rents flat; 881 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
This rent runs 33% of the median local income ($72k/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 $892 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 126 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
2 sale attempts since 2y ago; this cycle's ask has dropped $8k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
Current owner paid $80k; list at $129k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

Watch-outs: flood insurance adds $125/mo; HOA is 41% of rent.
Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe 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 $90,254 (30.0% below list)

Questions for the listing agent

What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
It's been on market 126 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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?
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.
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.
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: 1.54% ✓
Cap rate: 4.97%
Cash-on-cash: -4.74%
DSCR: 0.79
GRM: 5.4

CMA / ARV

ARV (median comp): $153,311
List price: $129,000
Delta: -15.86%
Verdict: UNDERPRICED
Comps: 5 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22840 Sterling Ave #17	0.10mi	3/2.0	1,164 (0%)	3mo	$134,000	$115	93
22840 Sterling Ave #142	0.10mi	3/2.0	1,188 (+2%)	10mo	$115,000	$97	84
22840 Sterling Ave #4	0.10mi	3/2.0	1,164 (0%)	14mo	$150,000	$129	84
22840 Sterling Ave #35	0.10mi	3/2.0	1,188 (+2%)	14mo	$70,000	$59	81
22840 Sterling Ave #73	0.10mi	3/2.0	1,188 (+2%)	18mo	$153,000	$129	77
22840 Sterling Ave #186	0.10mi	3/2.0	1,296 (+11%)	10mo	$181,000	$140	68

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: -38.7%
Equity multiple: -0.17×
Total profit: $-42,310
Equity at exit: $19,234

10-year hold

IRR: —
Equity multiple: -1.10×
Total profit: $-75,674
Equity at exit: $11,154

Cash invested: $36,120 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 5 active · 1 under contract
Months of supply: 30.0 mo (3%/mo absorbed)
Median asking: $119,900 ($114/sqft)
Median days on market: 56 d
This list price: 80% of active listings are priced below it
ARV vs active asking: +16.0% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 92262

Rents YoY: 0.5%
Active inventory: 881
Price-to-rent: 5.4×

Monthly cashflow live

Estimated rent: $1,992 medium interval (Pro) →
Mortgage (P&I): −$676
Tax est. 1.5%: −$161 /mo · $1,935/yr
Insurance: −$54
Flood insurance flood zone: −$125 /mo · $1,502/yr
HOA: −$825
Lot rent leased land?: −$0
Vacancy / Maint / Mgmt: −$418
Net cashflow: $-268

Break-even live

Break-even rent $2,331

Max offer price $90,254

Occupancy floor —

Sensitivity live

Price	-10% $-179	-5% $-223	+0% $-268	+5% $-312	+10% $-357
Rent	-10% $-425	-5% $-346	+0% $-268	+5% $-189	+10% $-110
Rate	-1.0pp $-203	-0.5pp $-235	base $-268	+0.5pp $-301	+1.0pp $-335

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: $32,250
Closing costs: $3,870
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22470 Fawnridge Dr Palm Springs, CA	4.0	2.0	1400	$2,600	$1.86	17d	1	0.05mi
22840 Sterling Ave Unit 147 Palm Springs, CA	3.0	2.0	1188	$2,650	$2.23	9d	1	0.13mi

Property features AI

Finance

Other: Storage shed included in saleHas community pool and heated in-ground spa with safety gateMobile home park: Sun Canyon Estates (family park); manager approval required
Financial info: Monthly space rent listed separatelyLand is lease type
HOA & community: Monthly association feeHOA fee covers clubhouseCommunity amenities include clubhouse, fitness center, recreation room, banquet facilities, billiard room, paddle tennis, controlled access, guest parkingAssociation manager: Vanessa Martinez

Exterior

Parking: Two covered spacesTwo carport spacesOn-street parkingTotal of 4 parking spacesAttached carport
Security: Gated communityResident manager
Utilities: PUDSewer: Unknown
Home design: Traditional styleOne levelDetachedFront door faces north
Construction: Wood siding exteriorDouble-wide manufactured home (Golden West, model CL490A8, 1996)Assessor-listed year built
Exterior features: Covered patioWood fencingFenced yardCorner lotClose to clubhouse and parkState road frontageAccessory buildings on siteMountain viewsCommunity mailbox

Interior

Kitchen: Galley kitchenRemodeled kitchenSkylight(s) in kitchenGas range
Flooring: CarpetLaminate
Bathrooms: Two full bathroomsRemodeled baths with shower and tub
Heating & cooling: Central heatingNatural gas heatingAir conditioning
Interior features: Open floorplanVaulted ceilingsGround-level entry with no stepsSkylightsUnfurnished
Laundry & utility: Laundry area

HOA detail $825/mo · $9,900/yr

Likely covers: watersewergas

Listing history 50 events

2026-09-23

days on market $129,000 Active 126 DOM
2026-09-22

days on market $129,000 Active 125 DOM
2026-09-21

days on market $129,000 Active 124 DOM
2026-09-20

days on market $129,000 Active 123 DOM
2026-09-19

days on market $129,000 Active 122 DOM
2026-09-18

days on market $129,000 Active 121 DOM
2026-09-17

days on market $129,000 Active 120 DOM
2026-09-16

days on market $129,000 Active 119 DOM
2026-09-15

days on market $129,000 Active 118 DOM
2026-09-14

days on market $129,000 Active 117 DOM
2026-09-13

days on market $129,000 Active 116 DOM
2026-09-12

days on market $129,000 Active 115 DOM
2026-09-11

days on market $129,000 Active 114 DOM
2026-09-05

days on market $129,000 Active 108 DOM
2026-09-04

days on market $129,000 Active 107 DOM
2026-09-03

days on market $129,000 Active 106 DOM
2026-08-31

days on market $129,000 Active 103 DOM
2026-08-30

days on market $129,000 Active 102 DOM
2026-08-29

days on market $129,000 Active 101 DOM
2026-08-28

days on market $129,000 Active 100 DOM
2026-08-27

days on market $129,000 Active 99 DOM
2026-08-25

days on market $129,000 Active 97 DOM
2026-08-24

days on market $129,000 Active 96 DOM
2026-08-23

days on market $129,000 Active 95 DOM
2026-08-22

days on market $129,000 Active 94 DOM
2026-08-21

days on market $129,000 Active 93 DOM
2026-08-20

days on market $129,000 Active 92 DOM
2026-08-19

days on market $129,000 Active 91 DOM
2026-08-18

days on market $129,000 Active 90 DOM
2026-08-17

days on market $129,000 Active 89 DOM
2026-08-16

days on market $129,000 Active 88 DOM
2026-08-15

days on market $129,000 Active 87 DOM
2026-08-14

days on market $129,000 Active 86 DOM
2026-08-13

days on market $129,000 Active 85 DOM
2026-08-12

days on market $129,000 Active 84 DOM
2026-08-11

days on market $129,000 Active 83 DOM
2026-08-10

days on market $129,000 Active 82 DOM
2026-08-09

days on market $129,000 Active 81 DOM
2026-08-08

days on market $129,000 Active 80 DOM
2026-08-06

days on market $129,000 Active 78 DOM
2026-08-05

days on market $129,000 Active 77 DOM
2026-08-04

days on market $129,000 Active 76 DOM
2026-08-03

days on market $129,000 Active 75 DOM
2026-07-31

days on market $129,000 Active 72 DOM
2026-07-30

days on market $129,000 Active 70 DOM
2026-07-28

days on market $129,000 Active 69 DOM
2026-07-26

days on market $129,000 Active 67 DOM
2026-07-24

days on market $129,000 Active 65 DOM
2026-07-23

days on market $129,000 Active 64 DOM
2026-07-22

days on market $129,000 Active 63 DOM

ⓘ 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 3/10 Moderate FEMA zone A · 12% chance over 30 yrs
🔥 Wildfire 9/10 Extreme
🌡 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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $23,908
− Mortgage interest: −$7,226
− Property taxes: −$1,935
− Insurance: −$2,148
− Repairs & maintenance: −$1,913
− Management: −$1,913
− HOA: −$9,900
− Depreciation: −$3,753
Taxable loss: −$4,879

Your marginal tax rate % combined federal + state — saved on this device

Est. tax savings @ 24.0%: +$1,171
After-tax cash flow: $-2,042/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 Est. rehab $5,820–$17,460 screening

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 ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 40/100

Zoned Schools

Elementary Vista Del Monte Elementary Middle Raymond Cree Middle High Palm Springs High F CA #508/1,170 Nat'l #8,052/17,239

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

C Composite livability gradescore 66/100

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 · 2,664,475 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: 14% of renters

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
#4 Apple Cupertino $391.0B #7 Alphabet Mountain View $350.0B #22 Meta Platforms Menlo Park $164.5B #31 NVIDIA Santa Clara $130.5B #83 Cisco Systems San Jose $53.8B #84 HP Inc Palo Alto $53.6B #86 Intel Santa Clara $53.1B #88 Broadcom Palo Alto $52.4B #109 Qualcomm San Diego $39.0B #112 Salesforce San Francisco $38.4B #140 Applied Materials Santa Clara $27.2B #155 AMD Santa Clara $22.7B #330 Intuit Mountain View $16.3B #242 Lam Research Fremont $15.8B #252 Western Digital San Jose $13.0B #366 ServiceNow Santa Clara $11.0B #282 KLA Corporation Milpitas $10.8B #405 Workday Pleasanton $7.9B #302 Arista Networks Santa Clara $6.7B #365 NetApp San Jose $6.5B #352 Synopsys Sunnyvale $6.1B #331 Autodesk San Francisco $6.0B #395 Juniper Networks Sunnyvale $5.6B #403 Cadence Design Systems San Jose $4.6B #430 Veeva Systems Pleasanton $2.4B #397 Teradata San Diego $1.8B #461 Dolby Laboratories San Francisco $1.3B
Financial Services	3	$174B
#33 Wells Fargo San Francisco $125.4B #272 Visa San Francisco $35.9B #308 LPL Financial Holdings San Diego $12.3B
Retail	3	$44B
#162 Ross Stores Dublin $20.9B #231 Gap San Francisco $15.6B #323 Williams-Sonoma San Francisco $7.7B
Insurance	3	$26B
#241 Pacific Life Newport Beach $13.4B #293 First American Financial Santa Ana $7.7B #482 Mercury General Los Angeles $5.2B
Media / Entertainment	2	$115B
#46 Walt Disney Burbank $91.4B #263 Live Nation Entertainment Beverly Hills $23.2B
Pharmaceuticals / Biotech	2	$62B
#126 Amgen Thousand Oaks $33.3B #137 Gilead Sciences Foster City $28.4B

Price history

-4.4% since first listed

9 events — show timeline

2026-07-12 Price Changed $129,000 GPSMLS
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

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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