22840 Sterling Ave #87 · Palm Springs, CA 92262

$125,000

3 bd · 2.0 ba · 1,056 sqft · Manufactured public records · 3 Days on market

Built 2004 $118/sqft · at area comps Est $130k · at est.

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.4/15.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 22840 Sterling Avenue #87! This spacious and quiet 1,140 sq. ft. 3-bedroom/2-bath manufactured home is ideally located within Sun Canyon Estates. Surrounded by superb mountains views, the unit offers a spacious living room, an en-suite master bedroom and 2 additional bedrooms. This home with its covered 1 car garage is perfect for a family or to host friends. Recent upgrades includes new AC, new garage door, dishwasher and boiler. Ready to move in. Amenities include a fitness center, library, pool, and spa. Downtown Palm Springs is only 12 minutes away by car. Current monthly space rent is $555, which includes a clubhouse, onsite manager, fitness center, library, bbq area, spa, parking and pool.

Key facts

• Move in ready
• Spacious living room
• Garage

Tags

• MOVE IN READY
• SPACIOUS LIVING ROOM
• EN SUITE PRIMARY BEDROOM
• RESORT STYLE AMENITIES
• SAN JACINTO MOUNTAIN VIEWS

Property features AI

Finance

• Other: Property sold as real estate owned (REO); Listing terms: Conventional or cash; Possession at close of escrow; Property sold as-is; pet restrictions apply
• Financial info: Land is lease; land lease amount $950 annually; Rental restrictions apply; Land lease purchase: No
• HOA & community: No monthly association fee

Exterior

• Parking: Detached garage (1 car); Total 2 parking spaces (includes 1 uncovered/assigned space); Driveway
• Security: Community security / resident manager
• Utilities: Sewer: Other
• Home design: One-story double-wide manufactured home; Front door faces east; Built by Fleetwood Homes (model: Beacon Hill)
• Construction: Double-wide manufactured home; Made by Fleetwood (MH manufacturer: Fleetwood); Model: 3443R; Length about 44 ft, width about 23.6 ft
• Exterior features: Community-managed property with resident manager; Wood fencing; Other fencing; Mountain views; Front door faces east; Detached property

Interior

• Kitchen: Formica counters; Kitchen island
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms; Shower over tub; Shower stall
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Open floorplan; Unfurnished; Living room
• Laundry & utility: Dedicated laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $125k).
• Cap rate 20.7% 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 $2,837/mo this rent would consume 48% 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 $864 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.
• At projected returns (-3.0% appreciation + 0.5% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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.

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 $125,000

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: 2.27% ✓
• Cap rate: 20.67%
• Cash-on-cash: 51.34%
• DSCR: 3.28
• GRM: 3.7

CMA / ARV

• ARV (median comp): $130,473
• List price: $125,000
• Delta: -4.20%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22840 Sterling Ave #4	0.00mi	3/2.0	1,164 (+10%)	11mo	$150,000	$129	74
22840 Sterling Ave #142	0.00mi	3/2.0	1,188 (+12%)	7mo	$115,000	$97	73
22840 Sterling Ave #35	0.00mi	3/2.0	1,188 (+12%)	10mo	$70,000	$59	70
22840 Sterling Ave #73	0.00mi	3/2.0	1,188 (+12%)	15mo	$153,000	$129	67

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: 41.5%
• Equity multiple: 2.72×
• Total profit: $60,108
• Equity at exit: $18,638

10-year hold

• IRR: 46.5%
• Equity multiple: 4.93×
• Total profit: $137,476
• Equity at exit: $10,808

Cash invested: $35,000 (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 92262

• Rents YoY: 0.5%
• Active inventory: 662
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,837 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$37 /mo · $440/yr
• Insurance: −$52
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$596
• Net cashflow: $1,372

Break-even live

Break-even rent $1,101

Max offer price $125,000

Occupancy floor 47%

Sensitivity live

Price	-10% $1,443	-5% $1,407	+0% $1,372	+5% $1,337	+10% $1,301
Rent	-10% $1,148	-5% $1,260	+0% $1,372	+5% $1,484	+10% $1,596
Rate	-1.0pp $1,435	-0.5pp $1,404	base $1,372	+0.5pp $1,340	+1.0pp $1,307

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: $31,250
• Closing costs: $3,750
• 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 8 events

1. 2026-06-21
   days on marketlisting id $125,000 Active 3 DOM
2. 2026-06-01
   days on market $125,000 Active 53 DOM
3. 2026-05-31
   days on market $125,000 Active 52 DOM
4. 2026-04-14
   price $125,000 798-char remark
5. 2026-04-09
   listed $135,000 Active 798-char remark
6. 2022-06-06
   soldstatus $123,000 Sold 715-char remark

   Show marketing remark (715 chars)

   Welcome to 22840 Sterling Avenue #87! This spacious and quiet 1,140 sq. ft. 3-bedroom/2-bath manufactured home is ideally located within Sun Canyon Estates. Surrounded by superb mountains views, the unit offers a spacious living room, an en-suite master bedroom and 2 additional bedrooms. This home with its covered 1 car garage is perfect for a family or to host friends. Recent upgrades includes new AC, new garage door, dishwasher and boiler. Ready to move in. Amenities include a fitness center, library, pool, and spa. Downtown Palm Springs is only 12 minutes away by car. Current monthly space rent is $555, which includes a clubhouse, onsite manager, fitness center, library, bbq area, spa, parking and pool.

7. 2022-04-12
   historical Backup Offers Accepted 715-char remark

   Show marketing remark (715 chars)

   Welcome to 22840 Sterling Avenue #87! This spacious and quiet 1,140 sq. ft. 3-bedroom/2-bath manufactured home is ideally located within Sun Canyon Estates. Surrounded by superb mountains views, the unit offers a spacious living room, an en-suite master bedroom and 2 additional bedrooms. This home with its covered 1 car garage is perfect for a family or to host friends. Recent upgrades includes new AC, new garage door, dishwasher and boiler. Ready to move in. Amenities include a fitness center, library, pool, and spa. Downtown Palm Springs is only 12 minutes away by car. Current monthly space rent is $555, which includes a clubhouse, onsite manager, fitness center, library, bbq area, spa, parking and pool.

8. 2022-03-28
   listed $125,000 Active 715-char remark

   Show marketing remark (715 chars)

   Welcome to 22840 Sterling Avenue #87! This spacious and quiet 1,140 sq. ft. 3-bedroom/2-bath manufactured home is ideally located within Sun Canyon Estates. Surrounded by superb mountains views, the unit offers a spacious living room, an en-suite master bedroom and 2 additional bedrooms. This home with its covered 1 car garage is perfect for a family or to host friends. Recent upgrades includes new AC, new garage door, dishwasher and boiler. Ready to move in. Amenities include a fitness center, library, pool, and spa. Downtown Palm Springs is only 12 minutes away by car. Current monthly space rent is $555, which includes a clubhouse, onsite manager, fitness center, library, bbq area, spa, parking and pool.

ⓘ 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: $440 · $37/mo
• Projected year-2 tax: $950 · $79/mo
• Expected delta: +$510/yr (+$42/mo · 115.8%)

ⓘ 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: $34,049
• − Mortgage interest: −$7,002
• − Property taxes: −$440
• − Insurance: −$2,128
• − Repairs & maintenance: −$2,724
• − Management: −$2,724
• − Depreciation: −$3,636
• Taxable income: $15,396
• Est. tax owed @ 24.0%: −$3,695
• After-tax cash flow: $12,770/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

+0.0% since first listed

7 events — show timeline

• 2026-06-18 Listed $125,000 GPSMLS
• 2026-06-01 Listing Removed — CRMLS
• 2026-04-14 Price Changed $125,000 CRMLS
• 2026-04-09 Listed $135,000 CRMLS
• 2022-06-06 Sold (MLS) $123,000 TheMLS
• 2022-04-12 Contingent — TheMLS
• 2022-03-28 Listed $125,000 TheMLS

Property tax history

-3.0%/yr

Latest (2025): $440 · -2.1% YoY. Source: county tax records.