22840 Sterling #92 · Palm Springs, CA 92262

$205,000

3 bd · 2.0 ba · 1,560 sqft · Manufactured public records · 4 Days on market

Built 1995 $131/sqft · 36% above area Est $150k · 36% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

This is a charming 2 bedrooms + Den, 2 full bathrooms has 1560 sq ft of living space. This home has a functioning wood burning Fireplace (Stone). Forced Air Heating and Cooling (Gas/Electric). Marble tile floors in entry, kitchen, main bath and utility room, with slate tiles in ensuite bathroom. Dark laminate floors, elsewhere except wall-to-wall carpet in master bedroom. Marble counter tops in Kitchen and bathrooms. Each bathroom has a full tub, and ensuite has a walk-in shower. Master Bedroom has a huge walk-in closet. The house exterior has been newly painted, with some trim work still left to do. The house has a large swamp cooler in master bedroom. There are two 50'+ Palm Trees in the

Key facts

• Huge walk-in closet
• Slate tiles
• Walk-in shower

Tags

• WOOD BURNING FIREPLACE
• MARBLE TILE FLOORS
• SLATE TILES
• MARBLE COUNTER TOPS
• WALK-IN SHOWER
• HUGE WALK-IN CLOSET

Property features AI

Finance

• Other: Pets allowed; Park name: Sun Canyon Estates
• Financial info: Land lease property
• HOA & community: Land lease: $950 monthly; Community park; Located in Sun Canyon Estates

Exterior

• Parking: Two covered carport spaces (attached); Two garage spaces; Four total parking spaces; Accessible parking available
• Security: Manager approval required for occupancy
• Utilities: Public/district water; Septic (type unknown)
• Home design: Single-story mobile home (SunPointe model); Entry off the street; One total story; Entry level: 1; Mobile home remains on site
• Construction: Estimated year built; Mobile home construction; Total model width 26 ft and length 58 ft
• Exterior features: Association pool; Garden; Back yard; Lawn; Park within the community

Interior

• Kitchen: Kitchenette with island; Granite countertops; Convection oven; Gas oven; Gas range; Microwave; Refrigerator; Freezer; Dishwasher; Barbecue; Water heater unit
• Bedrooms: Walk-in closet; Laundry area (in-unit)
• Flooring: Tile; Vinyl; Carpet
• Bathrooms: Two full bathrooms; Walk-in shower; Shower-in-tub option; Bathtub; Double sinks in bath(s); Linen closet/storage; Low-flow shower; Granite counters in bathrooms
• Heating & cooling: Central cooling; Central furnace heating
• Interior features: Ceiling fan; Double pane windows
• Laundry & utility: Washer included; Dryer included; Gas dryer hookup; Individual laundry room; Stackable washer/dryer capability

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $205k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $205k).
• Cap rate 13.9% 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: schools C-, crime F, cost of living 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 flat; 662 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 $3,192/mo this rent would consume 53% 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 $1k of loan paydown is wiped out by about $6k 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 + 0.5% rent growth), your $57k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 18y 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 $98k; list at $205k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• 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 $205,000

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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.56% ✓
• Cap rate: 13.87%
• Cash-on-cash: 27.07%
• DSCR: 2.20
• GRM: 5.4

CMA / ARV

• ARV (median comp): $150,347
• List price: $205,000
• Delta: 39.68%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22840 Sterling #110 Ave #110	0.00mi	3/2.0	1,512 (-3%)	8mo	$155,000	$103	88
22840 Sterling Ave #39	0.00mi	3/2.0	1,567 (+0%)	22mo	$185,000	$118	80
22840 Sterling Ave #25	0.00mi	3/2.0	1,586 (+2%)	22mo	$185,000	$117	79
22840 Sterling Ave #202	0.10mi	3/2.0	1,500 (-4%)	14mo	$169,000	$113	78
22840 Sterling Dr. Spc 24	0.10mi	3/2.0	1,519 (-3%)	17mo	$135,000	$89	77
22840 Sterling Ave #183	0.00mi	3/2.0	1,500 (-4%)	20mo	$180,000	$120	77
128 Calle Del Callado	0.13mi	3/2.5	1,782 (+14%)	4mo	$395,000	$222	64
22840 Sterling Ave #8	0.00mi	2/2.0 (-1)	1,344 (-14%)	22mo	$90,000	$67	54

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: 14.9%
• Equity multiple: 1.58×
• Total profit: $33,335
• Equity at exit: $30,566

10-year hold

• IRR: 21.7%
• Equity multiple: 2.64×
• Total profit: $93,966
• Equity at exit: $17,725

Cash invested: $57,400 (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: 662
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $3,192 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$66 /mo · $798/yr
• Insurance: −$85
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$670
• Net cashflow: $1,170

Break-even live

Break-even rent $1,712

Max offer price $205,000

Occupancy floor 58%

Sensitivity live

Price	-10% $1,286	-5% $1,228	+0% $1,170	+5% $1,112	+10% $1,054
Rent	-10% $918	-5% $1,044	+0% $1,170	+5% $1,296	+10% $1,422
Rate	-1.0pp $1,273	-0.5pp $1,222	base $1,170	+0.5pp $1,117	+1.0pp $1,063

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: $51,250
• Closing costs: $6,150
• 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	0d	1	0.03mi

Listing history 26 events

1. 2026-06-21
   days on market $205,000 Active 4 DOM
2. 2026-06-17
   pricestatusdays on marketlisting id $205,000 Active 1 DOM
3. 2026-05-11
   historical
4. 2026-04-30
   price $210,000
5. 2026-03-14
   listed $225,000 Active
6. 2026-03-14
   historical
7. 2026-02-08
   price $179,900
8. 2025-12-30
   price $189,900
9. 2025-09-08
   listed $199,999 Active
10. 2018-07-31
    soldstatus $98,000 Closed
11. 2018-07-31
    soldstatus $98,000 Closed
12. 2018-07-24
    status Pending
13. 2018-06-24
    status Backup Offers Accepted
14. 2018-05-26
    listed $102,500 Active
15. 2013-12-24
    soldstatus $70,000 Closed
16. 2013-12-24
    soldstatus $70,000 Closed
17. 2013-12-22
    status Pending
18. 2013-10-25
    status Backup Offers Accepted
19. 2013-09-20
    listed $74,900 Active
20. 2009-05-29
    historical
21. 2009-03-20
    price
22. 2009-02-28
    listed
23. 2009-02-28
    historical
24. 2008-12-27
    price
25. 2008-12-03
    price
26. 2008-09-15
    listed

ⓘ 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: $798 · $66/mo
• Projected year-2 tax: $1,558 · $130/mo
• Expected delta: +$760/yr (+$63/mo · 95.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $38,307
• − Mortgage interest: −$11,483
• − Property taxes: −$798
• − Insurance: −$2,528
• − Repairs & maintenance: −$3,065
• − Management: −$3,065
• − Depreciation: −$5,964
• Taxable income: $11,406
• Est. tax owed @ 24.0%: −$2,737
• After-tax cash flow: $11,300/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 — 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

+173.7% since first listed

25 events — show timeline

• 2026-06-17 Listed $205,000 CRMLS
• 2026-05-11 Listing Removed — CRMLS
• 2026-04-30 Price Changed $210,000 CRMLS
• 2026-03-14 Listing Removed — CRMLS
• 2026-03-14 Listed $225,000 CRMLS
• 2026-02-08 Price Changed $179,900 CRMLS
• 2025-12-30 Price Changed $189,900 CRMLS
• 2025-09-08 Listed $199,999 CRMLS
• 2018-07-31 Sold (MLS) $98,000 GPSMLS
• 2018-07-31 Sold (MLS) $98,000 GPSMLS
• 2018-07-24 Pending — GPSMLS
• 2018-06-24 Pending — GPSMLS
• 2018-05-26 Listed $102,500 GPSMLS
• 2013-12-24 Sold (MLS) $70,000 GPSMLS
• 2013-12-24 Sold (MLS) $70,000 GPSMLS
• 2013-12-22 Pending — GPSMLS
• 2013-10-25 Pending — GPSMLS
• 2013-09-20 Listed $74,900 GPSMLS
• 2009-05-29 Delisted — PALM
• 2009-03-20 Price Changed — PALM
• 2009-02-28 Listed — PALM
• 2009-02-28 Delisted — PALM
• 2008-12-27 Price Changed — PALM
• 2008-12-03 Price Changed — PALM
• 2008-09-15 Listed — PALM

Property tax history

+2.3%/yr

Latest (2025): $798 · -2.1% YoY. Source: county tax records.