15500 Bubbling Wells Rd #75 · Garnet, CA 92240

$50,000

2 bd · 2.0 ba · 792 sqft · Manufactured · 106 Days on market

Built 1977 $63/sqft · 14% above area Est $44k · 14% over $877/mo HOA · 39% of rent

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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
• 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
• ARV discount +1.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come and enjoy the peace and tranquility of resort style living in Hidden Springs Country Club, a 55+ active community in Desert Hot Springs. This 2 bedroom, 2 bath corner unit, situated on the 3rd fairway, boasts awe inspiring mountain and golf course views, as well as spectacular sunsets. The light and airy interior includes room for relaxation, dining, a remodeled kitchen, and an en-suite primary bedroom with large step in shower and a walk in closet. The large outdoor shed has a washer/dryer, and can be used for storage or workshop. A charming outdoor sitting area, lots of covered parking, tasteful landscaping, recently sealed roof, and updated A/C, complete the package. Community amenities include; a 9 hole golf course, a large swimming pool, 2 spas, sauna, tennis and pickleball courts, recreation room, much more, and a dog park for your four legged family members. Don't hesitate to take a look at this one!

Key facts

• Covered parking
• Remodeled kitchen
• Sealed roof

Tags

• MOUNTAIN AND GOLF COURSE VIEWS
• REMODELED KITCHEN
• OUTDOOR SITTING AREA
• COVERED PARKING
• TASTEFUL LANDSCAPING
• SEALED ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $411 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $46k (9.0% below list) — sets the bar for market timing.
• Cap rate 19.1% vs local median 6.0% 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 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 $2,222/mo this rent would consume 49% 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 $346 of loan paydown is wiped out by about $2k 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 $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y 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 $15k; list at $50k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo; HOA is 39% 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 $45,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 4.44% ✓
• Cap rate: 19.09%
• Cash-on-cash: 45.69%
• DSCR: 3.03
• GRM: 1.9

CMA / ARV

• ARV (median comp): $43,680
• List price: $50,000
• Delta: 14.47%
• Verdict: OVERPRICED
• 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	0.02mi	2/1.5	792 (0%)	13mo	$30,000	$38	86
15500 Bubbling Wls #50	0.02mi	2/2.0	800 (+1%)	22mo	$55,000	$69	78
15500 Bubbling Wells Rd #159	0.02mi	2/1.0	784 (-1%)	19mo	$29,000	$37	78
15500 Bubbling Wells Rd #216	0.00mi	2/2.0	744 (-6%)	21mo	$35,000	$47	72
15500 Bubbling Wls #210	0.15mi	2/1.0	720 (-9%)	3mo	$34,500	$48	71
15500 Bubbling Wells Rd #2	0.02mi	2/1.0	840 (+6%)	16mo	$24,900	$30	71
15500 Bubbling Wells Road Rd #6	0.14mi	2/1.0	728 (-8%)	11mo	$18,000	$25	67
15500 Bubbling Wells Rd #81	0.02mi	2/2.0	900 (+14%)	18mo	$55,000	$61	61
15500 Bubbling Wells Rd #273	0.15mi	2/2.0	868 (+10%)	22mo	$67,900	$78	59

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: 33.2%
• Equity multiple: 2.44×
• Total profit: $20,193
• Equity at exit: $7,455

10-year hold

• IRR: 41.3%
• Equity multiple: 5.29×
• Total profit: $60,079
• Equity at exit: $4,323

Cash invested: $14,000 (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: 1.9×

Monthly cashflow live

• Estimated rent: $2,222 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$877
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $411

Break-even live

Break-even rent $1,702

Max offer price $50,000

Occupancy floor 77%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15490 Avenue Rambla Unit NA Desert Hot Springs, CA	3.0	2.0	1088	$2,600	$2.39	24d	1	0.13mi
15490 Avenida Rambla Desert Hot Springs, CA	3.0	2.0	1088	$2,600	$2.39	44d	1	0.13mi
13895 Luis Dr Desert Hot Springs, CA	2.0	1.0	814	$1,800	$2.21	44d	1	1.06mi
13440 Quinta Way Unit 2 Desert Hot Springs, CA	2.0	2.0	1032	$2,000	$1.94	44d	1	1.18mi
15935 Mary Cir Desert Hot Springs, CA	1.0	1.0	550	$1,350	$2.45	18d	1	1.26mi
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	24d	1	1.34mi
66590 Joseph Way Unit B Desert Hot Springs, CA	2.0	1.0	785	$2,295	$2.92	24d	1	1.40mi
12920 Inaja St Unit C Desert Hot Springs, CA	2.0	2.0	1000	$1,895	$1.90	44d	1	1.40mi
13405 Ocotillo Rd Desert Hot Springs, CA	2.0	1.0	864	$1,750	$2.03	2d	1	1.45mi

HOA detail

• Monthly dues: $877 · $10,524/yr
• Likely covers: landscapingpool

Listing history 21 events

1. 2026-06-18
   days on market $50,000 Active 106 DOM
2. 2026-06-17
   days on market $50,000 Active 105 DOM
3. 2026-06-16
   days on market $50,000 Active 104 DOM
4. 2026-06-15
   days on market $50,000 Active 103 DOM
5. 2026-06-13
   days on market $50,000 Active 101 DOM
6. 2026-06-13
   days on market $50,000 Active 100 DOM
7. 2026-06-09
   days on market $50,000 Active 97 DOM
8. 2026-06-08
   days on market $50,000 Active 96 DOM
9. 2026-06-07
   days on market $50,000 Active 95 DOM
10. 2026-06-04
    days on market $50,000 Active 92 DOM
11. 2026-06-03
    days on market $50,000 Active 91 DOM
12. 2026-06-02
    days on market $50,000 Active 90 DOM
13. 2026-06-01
    days on market $50,000 Active 89 DOM
14. 2026-05-31
    days on market $50,000 Active 88 DOM
15. 2026-03-04
    listed $50,000 Active 925-char remark

    Show marketing remark (925 chars)

    Come and enjoy the peace and tranquility of resort style living in Hidden Springs Country Club, a 55+ active community in Desert Hot Springs. This 2 bedroom, 2 bath corner unit, situated on the 3rd fairway, boasts awe inspiring mountain and golf course views, as well as spectacular sunsets. The light and airy interior includes room for relaxation, dining, a remodeled kitchen, and an en-suite primary bedroom with large step in shower and a walk in closet. The large outdoor shed has a washer/dryer, and can be used for storage or workshop. A charming outdoor sitting area, lots of covered parking, tasteful landscaping, recently sealed roof, and updated A/C, complete the package. Community amenities include; a 9 hole golf course, a large swimming pool, 2 spas, sauna, tennis and pickleball courts, recreation room, much more, and a dog park for your four legged family members. Don't hesitate to take a look at this one!

16. 2024-09-11
    soldstatus $15,000 Sold 712-char remark

    Show marketing remark (712 chars)

    Come and enjoy the peace and tranquility of resort style living in Hidden Springs Country Club. This 2 bedroom 2 bath unit is a great remodel opportunity. You can create a home that is not only to your liking, but also affords you the convenience of retirement living while having all the amenities for an active lifestyle! With a view of the mountains and the freedom of desert living, you have the best of both worlds. This wonderful senior community has an amazing 9 hole golf course, a large swimming pool, 2 spas, a sauna, tennis courts, a recreation room, and a dog park for your four legged family members. This home sits on the 3rd Fairway. This home is sold as is. Park approval required for residency.

17. 2024-08-31
    status Pending 712-char remark

    Show marketing remark (712 chars)

    Come and enjoy the peace and tranquility of resort style living in Hidden Springs Country Club. This 2 bedroom 2 bath unit is a great remodel opportunity. You can create a home that is not only to your liking, but also affords you the convenience of retirement living while having all the amenities for an active lifestyle! With a view of the mountains and the freedom of desert living, you have the best of both worlds. This wonderful senior community has an amazing 9 hole golf course, a large swimming pool, 2 spas, a sauna, tennis courts, a recreation room, and a dog park for your four legged family members. This home sits on the 3rd Fairway. This home is sold as is. Park approval required for residency.

18. 2024-08-13
    historical Backup Offers Accepted 712-char remark

    Show marketing remark (712 chars)

    Come and enjoy the peace and tranquility of resort style living in Hidden Springs Country Club. This 2 bedroom 2 bath unit is a great remodel opportunity. You can create a home that is not only to your liking, but also affords you the convenience of retirement living while having all the amenities for an active lifestyle! With a view of the mountains and the freedom of desert living, you have the best of both worlds. This wonderful senior community has an amazing 9 hole golf course, a large swimming pool, 2 spas, a sauna, tennis courts, a recreation room, and a dog park for your four legged family members. This home sits on the 3rd Fairway. This home is sold as is. Park approval required for residency.

19. 2024-07-26
    listed $15,000 Active 712-char remark

    Show marketing remark (712 chars)

    Come and enjoy the peace and tranquility of resort style living in Hidden Springs Country Club. This 2 bedroom 2 bath unit is a great remodel opportunity. You can create a home that is not only to your liking, but also affords you the convenience of retirement living while having all the amenities for an active lifestyle! With a view of the mountains and the freedom of desert living, you have the best of both worlds. This wonderful senior community has an amazing 9 hole golf course, a large swimming pool, 2 spas, a sauna, tennis courts, a recreation room, and a dog park for your four legged family members. This home sits on the 3rd Fairway. This home is sold as is. Park approval required for residency.

20. 2003-08-06
    historical
21. 2003-02-07
    listed

ⓘ 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: $26,667
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$1,718
• − Repairs & maintenance: −$2,133
• − Management: −$2,133
• − HOA: −$10,524
• − Depreciation: −$1,455
• Taxable income: $5,154
• Est. tax owed @ 24.0%: −$1,237
• After-tax cash flow: $3,692/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
• City population: 41,615
• 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

+233.3% since first listed

7 events — show timeline

• 2026-03-04 Listed $50,000 TheMLS
• 2024-09-11 Sold (MLS) $15,000 TheMLS
• 2024-08-31 Pending — TheMLS
• 2024-08-13 Contingent — TheMLS
• 2024-07-26 Listed $15,000 TheMLS
• 2003-08-06 Delisted — PALM
• 2003-02-07 Listed — PALM