Rebuilt Residential Income
For Sale
$229,500
102 Fondulac Street, Palm Springs, CA 92264
Permitted manufactured home with updated systems, private parking, outdoor space, and a two-bedroom, two-bath layout.
Property Size1,000 SF
Price / SF$229.50
Days on Market16
Property Features for 102 Fondulac Street
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Manufactured In Park
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2BD/2BA
Multifamily Units
1
Amenities
fenced yard
private gated driveway
outdoor deck
indoor laundry room
ceiling fans
central air conditioning
Building Details
Buildings
1
Construction
manufactured home
Listing Agency:
HomeSmart
(760) 844-7500
Listed By:
Mary Green
(442) 599-1638
Source:
Tfregroup
Added: Sep 9
Changed: Sep 18
Last Checked: Sep 24 at 9:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HomeSmart
Investment Insights
Based on property information with market context.
Located at 102 Fondulac Street in Palm Springs, this permitted manufactured home was rebuilt from the chassis up within the 55+ Ramon Mobile Home Park. The 1,000-square-foot residence includes two bedrooms, two ensuite bathrooms, an open floor plan, a remodeled kitchen with modern appliances, high ceilings, ceiling fans, custom closet designs, and a spacious indoor laundry room. Structural framing, insulation, electrical, plumbing, and the central AC system were updated during the rebuild. Low-maintenance flooring and contemporary finishes complete the interior.
The home occupies a premium lot with a fenced yard, gated driveway, large outdoor deck, and street-facing position with mountain views. Its parking arrangement includes a private dedicated driveway and direct street parking at the front of the property. The location is minutes from South Palm Springs dining, shopping, and hiking trails.
The home occupies a premium lot with a fenced yard, gated driveway, large outdoor deck, and street-facing position with mountain views. Its parking arrangement includes a private dedicated driveway and direct street parking at the front of the property. The location is minutes from South Palm Springs dining, shopping, and hiking trails.
Key Highlights
- 1,000‑square‑foot manufactured home rebuilt from the chassis up
- Two bedrooms and two large ensuite bathrooms
- 55+ Ramon Mobile Home Park in Palm Springs
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,187
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$323,740
$323.7K
Cap Rate 7%
$231,243
$231.2K
Cap Rate 9%
$179,856
$179.9K
Market Conditions
NOI Build-Up for 1,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$30.0K $30.00/SF
− Vacancy
−$570 −$0.57/SF
EGI
$29.4K $29.43/SF
− OpEx
−$13.2K −$13.24/SF
NOI
$16.2K $16.19/SF
Area
Riverside County, CA
Vacancy
1.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$323,740
Cap Rate 7%
$231,243
Cap Rate 9%
$179,856
Alternative Uses
Best Use
Apartment 5plus
$231.2K
$202.3K – $269.8K
NOI $16,187 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$299.6K
$262.1K – $349.5K
NOI $20,971 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,093
Businesses Nearby
Explore this area
Business Placement
Demographics for 92264, CA
19,254
Population
17,518
Households
1.1
Avg Household Size
61
Median Age
48%
College-Educated
94%
High-School Grad
50.9 sq mi
ZIP Area
378
Density / Sq Mi
$75,246
Median Household Income
$46,756
Median Earnings
$1,581
Median Rent
$498,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Permitted manufactured home with updated systems, private parking, outdoor space, and a two-bedroom, two-bath layout.
Where is this residential income property located?
The property is located at 102 Fondulac Street Palm Springs, CA.
What is the asking price?
The asking price for this property is $229,500.
What are key features of this property?
This property features: 1,000‑square‑foot manufactured home rebuilt from the chassis up; Two bedrooms and two large ensuite bathrooms; 55+ Ramon Mobile Home Park in Palm Springs
