3158 Circle E #51 · Borrego Springs, CA 92004

$135,000

2 bd · 1.0 ba · 864 sqft · Condo · 35 Days on market

Built 1965 Fair condition $156/sqft · at area comps Est $140k · at est. $550/mo HOA · 25% of rent

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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 +23.5/30.0
• 1% rule +10.0/10.0
• ARV discount +9.2/15.0
• DSCR +7.5/10.0
• Livability +2.9/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Well maintained Club Circle condo close to the Borrego Springs resort and 5 minutes from town. Enjoy the serenity of the desert at a very affordable price. This is a great place to stage your desert adventures or to use as a short term rental. Offered fully furnished.

Key facts

• $550 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Building name: Club Circle East; Subdivision: Borrego Springs
• HOA & community: Homeowners association with monthly fee of $550; HOA covers grounds and structure maintenance; Community amenities include pool and tennis courts

Exterior

• Parking: 1 parking space
• Utilities: Sewer connected
• Home design: Residential condominium; Single-story; Entry level: 1; No one above or below (no common walls vertically)
• Construction: Flat roof
• Exterior features: Covered porch with awning(s); Community pool; Tennis courts; Sidewalks; Cul-de-sac lot setting; Has a view

Interior

• Kitchen: Includes refrigerator, range, and oven
• Bedrooms: Space for 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating (electric)
• Interior features: Refrigerator; Range; Oven; Electric water heater; Carpet flooring; Tile flooring
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $135k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $129 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 6.0% in Borrego 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 58/100 on livability (#712 in CA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, employment A+, housing A+; Watch: schools F, amenities F, commute F.
• Borrego Springs Unified (rural): math 20% / reading 35% proficiency, ranked #1,120 of 1,400 in CA (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 174 active listings in the ZIP; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• San Diego County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo; HOA is 25% of rent.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance); extreme-heat days projected 8→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.63% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.96%
• DSCR: 1.35
• GRM: 5.1

CMA / ARV

• ARV (median comp): $140,218
• List price: $135,000
• Delta: -3.72%
• Verdict: FAIR
• Comps: 17 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.65×
• Total profit: $-13,239
• Equity at exit: $20,129

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $831
• Equity at exit: $11,672

Cash invested: $37,800 (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 92004

• Home prices YoY: -18.4%
• Active inventory: 174
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,195 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$550
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $129

Break-even live

Break-even rent $2,032

Max offer price $135,000

Occupancy floor 89%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $550 · $6,600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-09
   days on market $135,000 Active 35 DOM
2. 2026-06-08
   days on market $135,000 Active 34 DOM
3. 2026-06-07
   days on market $135,000 Active 33 DOM
4. 2026-06-07
   days on market $135,000 Active 32 DOM
5. 2026-06-04
   days on market $135,000 Active 29 DOM
6. 2026-06-02
   days on market $135,000 Active 28 DOM
7. 2026-06-01
   days on market $135,000 Active 27 DOM
8. 2026-05-31
   days on market $135,000 Active 26 DOM
9. 2026-05-31
   days on market $135,000 Active 25 DOM
10. 2026-05-05
    listed $135,000 Active 268-char remark

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 8 d/yr ≥111°F today · 24 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,337
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$2,142
• − Repairs & maintenance: −$2,107
• − Management: −$2,107
• − HOA: −$6,600
• − Depreciation: −$3,927
• Taxable loss: −$134
• Est. tax savings @ 24.0%: +$32
• After-tax cash flow: $1,575/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 · 2 photos

Fair 45/100 Cosmetic rehab

This well-maintained condo is in fair condition with some cosmetic improvements needed, such as landscaping and driveway repair, to enhance its resale and rental value.

Repairs flagged

• Major Driveway — The driveway is cracked and in poor condition.
• Minor Landscaping — The landscaping is sparse and could be improved with some additional plants and shrubs.

Value-add opportunities

• Both Landscaping — Improved landscaping would enhance both the resale and rental value by making the property more attractive.
• Both Driveway repair — Repairing the cracked driveway would improve the property's curb appeal and make it more presentable for potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Driveway · The driveway is cracked and in poor condition.	Major	$15,000–50,000
Landscaping · The landscaping is sparse and could be improved with some additional plants and shrubs.	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both Landscaping — Improved landscaping would enhance both the resale and rental value by making the property more attractive. ↑
• Both Driveway repair — Repairing the cracked driveway would improve the property's curb appeal and make it more presentable for potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Borrego Springs Unified
• NCES district ID: 0605700
• Math proficiency: 20% ▼ -6.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $42,330
• Composite: 26.31/100
• National rank: #12684
• State rank: #1120 of 1400 in CA

Livability — Borrego Springs

• Score: 58/100
• State rank: #712
• US rank: #21334

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing A+ Health & safety F User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Borrego Springs, CA
• Population (ZIP): 3,030

Population outlook (San Diego County) Hauer SSP2

• Today (2025): 3,678,185 people
• By 2030: 3,856,546 · +4.8%
• By 2040: 4,171,407 · +13.4%
• By 2050: 4,421,607 · +20.2%
• By 2075: 4,831,599 · +31.4%
• By 2100: 4,832,502 · +31.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 33% Two or more races 24%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Lithuanian 10% Slovak 5% Scotch-Irish 1%
• Foreign-born: 27% · Canada
• Languages at home: 70% English-only · Spanish 30%

Political lean MEDSL · San Diego

• 2024 margin: D (+16.8) · D 56.9% · R 40.1% · Other 2.9%
• 2008→2024 swing: +6.6pp toward D · 2008: 10.2pp · 2024: 16.8pp
• All cycles: 2024: D+16.8 2020: D+22.8 2016: D+17.8 2012: D+5.1 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.39%
• Current HPI: 222.8196
• Rent YoY: —
• Metro: —
• 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