2960 Frying Pan Rd · Borrego Springs, CA 92004

$345,000

3 bd · 2.0 ba · 1,500 sqft · SingleFamily public records · 79 Days on market

Built 1980 0.47 ac lot $230/sqft · at area comps Est $358k · 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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +9.1/15.0
• Livability +2.9/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This fine 3BR 2BA home has been lovingly renovated by the seller. Dual pane windows, tile and carpet floors. Kitchen backsplash is tile, propane stove. Upgraded blinds. 2 car finished garage with work benches and shelving. Front porch has concrete sections and a patio framed cover. Back patio area has pony walls and open views to the west. .47 acre lot on this parcel. Newer roofs. Location is open on the west and south sides of the house! Borrego Springs is one of only a handful of International Dark Sky Communities in the world. Borrego Springs is located in the low desert unincorporated area of northeastern San Diego County. Borrego Springs is a winter resort destination and we welcome the "snow birds" who arrive from colder climates to warm up during the winter. Borrego Springs is less than a 2 hour drive from San Diego or Palm Springs. Borrego Springs is a village within a park, completely surrounded and protected by the Anza-Borrego Desert State Park, is the largest desert state park in the contiguous United States with over 660,000 acres. This desert community is miles away from the nearest stoplight and we have no big box or chain stores. The slower uncomplicated pace and the scenic beauty, add to your rustic, authentic, desert experience. It is a special place, in all seasons. Activities include, nature walks, off-roading, hiking, biking, watching the wildlife, photography or star gazing. Borrego Springs is an active community for young and old alike with a desirable small town atmosphere. The elevation of the Borrego Valley Airport is approximately 520'. The summers are very hot, the winters are wonderful, spring is delightful and fall is not too bad either.

Key facts

• Propane stove
• Tile floors
• Shelving

Tags

• DUAL PANE WINDOWS
• TILE FLOORS
• PROPANE STOVE
• FINISHED GARAGE
• WORK BENCHES
• SHELVING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $345k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $345k).
• Recommended offer: $324k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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; 1 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $10k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $97k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($324k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $100k; list at $345k implies a 245% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance); extreme-heat days projected 9→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $324,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.45% ✓
• Cap rate: 12.81%
• Cash-on-cash: 23.28%
• DSCR: 2.04
• GRM: 5.8

CMA / ARV

• ARV (median comp): $358,010
• List price: $345,000
• Delta: -3.63%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3018 Double O Rd	0.19mi	3/2.0	1,350 (-10%)	9mo	$365,000	$270	67
2731 Frying Pan	0.50mi	3/2.0	1,560 (+4%)	11mo	$260,000	$167	61
3145 Flying H Rd	0.49mi	3/2.0	1,446 (-4%)	12mo	$334,300	$231	61
2846 Frying Pan Rd	0.22mi	3/3.0	1,707 (+14%)	4mo	$360,000	$211	59
3014 Broken Arrow Rd	0.29mi	3/2.0	1,412 (-6%)	22mo	$450,000	$319	58
2813 Bending Elbow Dr	0.38mi	2/2.0 (-1)	1,339 (-11%)	11mo	$590,000	$441	50
3251 Frying Pan Rd	0.72mi	3/2.0	1,536 (+2%)	23mo	$389,000	$253	43
3245 Borrego Springs Rd	0.73mi	3/2.0	1,685 (+12%)	3mo	$299,000	$177	43
3212 Double O Rd	0.62mi	2/1.0 (-1)	1,376 (-8%)	14mo	$320,000	$233	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.4%
• Equity multiple: 1.58×
• Total profit: $55,622
• Equity at exit: $51,441

10-year hold

• IRR: 23.1%
• Equity multiple: 2.99×
• Total profit: $191,937
• Equity at exit: $29,829

Cash invested: $96,600 (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: 5.8×

Monthly cashflow live

• Estimated rent: $5,000 medium
• Mortgage (P&I): −$1,809
• Tax from tax record: −$123 /mo · $1,477/yr
• Insurance: −$144
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,050
• Net cashflow: $1,752

Break-even live

Break-even rent $2,783

Max offer price $345,000

Occupancy floor 60%

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3382 Bar O Dr Borrego Springs, CA	3.0	2.0	1720	$5,000	$2.91	2d	1	1.32mi

Listing history 22 events

1. 2026-06-19
   days on market $345,000 Active 79 DOM
2. 2026-06-18
   days on market $345,000 Active 78 DOM
3. 2026-06-17
   days on market $345,000 Active 77 DOM
4. 2026-06-16
   days on market $345,000 Active 76 DOM
5. 2026-06-15
   days on market $345,000 Active 75 DOM
6. 2026-06-14
   days on market $345,000 Active 73 DOM
7. 2026-06-12
   days on market $345,000 Active 72 DOM
8. 2026-06-09
   days on market $345,000 Active 69 DOM
9. 2026-06-08
   days on market $345,000 Active 68 DOM
10. 2026-06-07
    days on market $345,000 Active 67 DOM
11. 2026-06-07
    days on market $345,000 Active 66 DOM
12. 2026-06-04
    days on market $345,000 Active 63 DOM
13. 2026-06-02
    days on market $345,000 Active 62 DOM
14. 2026-06-01
    days on market $345,000 Active 61 DOM
15. 2026-05-31
    days on market $345,000 Active 60 DOM
16. 2026-05-31
    days on market $345,000 Active 59 DOM
17. 2026-04-01
    listed $345,000 Active 1705-char remark

    Show marketing remark (1705 chars)

    This fine 3BR 2BA home has been lovingly renovated by the seller. Dual pane windows, tile and carpet floors. Kitchen backsplash is tile, propane stove. Upgraded blinds. 2 car finished garage with work benches and shelving. Front porch has concrete sections and a patio framed cover. Back patio area has pony walls and open views to the west. .47 acre lot on this parcel. Newer roofs. Location is open on the west and south sides of the house! Borrego Springs is one of only a handful of International Dark Sky Communities in the world. Borrego Springs is located in the low desert unincorporated area of northeastern San Diego County. Borrego Springs is a winter resort destination and we welcome the "snow birds" who arrive from colder climates to warm up during the winter. Borrego Springs is less than a 2 hour drive from San Diego or Palm Springs. Borrego Springs is a village within a park, completely surrounded and protected by the Anza-Borrego Desert State Park, is the largest desert state park in the contiguous United States with over 660,000 acres. This desert community is miles away from the nearest stoplight and we have no big box or chain stores. The slower uncomplicated pace and the scenic beauty, add to your rustic, authentic, desert experience. It is a special place, in all seasons. Activities include, nature walks, off-roading, hiking, biking, watching the wildlife, photography or star gazing. Borrego Springs is an active community for young and old alike with a desirable small town atmosphere. The elevation of the Borrego Valley Airport is approximately 520'. The summers are very hot, the winters are wonderful, spring is delightful and fall is not too bad either.

18. 2026-04-01
    historical

    Show marketing remark (1705 chars)

    This fine 3BR 2BA home has been lovingly renovated by the seller. Dual pane windows, tile and carpet floors. Kitchen backsplash is tile, propane stove. Upgraded blinds. 2 car finished garage with work benches and shelving. Front porch has concrete sections and a patio framed cover. Back patio area has pony walls and open views to the west. .47 acre lot on this parcel. Newer roofs. Location is open on the west and south sides of the house! Borrego Springs is one of only a handful of International Dark Sky Communities in the world. Borrego Springs is located in the low desert unincorporated area of northeastern San Diego County. Borrego Springs is a winter resort destination and we welcome the "snow birds" who arrive from colder climates to warm up during the winter. Borrego Springs is less than a 2 hour drive from San Diego or Palm Springs. Borrego Springs is a village within a park, completely surrounded and protected by the Anza-Borrego Desert State Park, is the largest desert state park in the contiguous United States with over 660,000 acres. This desert community is miles away from the nearest stoplight and we have no big box or chain stores. The slower uncomplicated pace and the scenic beauty, add to your rustic, authentic, desert experience. It is a special place, in all seasons. Activities include, nature walks, off-roading, hiking, biking, watching the wildlife, photography or star gazing. Borrego Springs is an active community for young and old alike with a desirable small town atmosphere. The elevation of the Borrego Valley Airport is approximately 520'. The summers are very hot, the winters are wonderful, spring is delightful and fall is not too bad either.

19. 2025-10-01
    listed $345,000 Active
20. 2025-10-01
    historical
21. 2024-11-01
    listed $365,000 Active
22. 2001-07-27
    soldstatus $100,000

ⓘ 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: $1,477 · $123/mo
• Projected year-2 tax: $2,622 · $218/mo
• Expected delta: +$1,145/yr (+$95/mo · 77.6%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AO · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 9 d/yr ≥112°F today · 29 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: $60,000
• − Mortgage interest: −$19,325
• − Property taxes: −$1,477
• − Insurance: −$3,192
• − Repairs & maintenance: −$4,800
• − Management: −$4,800
• − Depreciation: −$10,036
• Taxable income: $16,369
• Est. tax owed @ 24.0%: −$3,929
• After-tax cash flow: $17,092/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: 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

Price history

+245.0% since first listed

6 events — show timeline

• 2026-04-01 Listing Removed — SDMLS
• 2026-04-01 Listed $345,000 SDMLS
• 2025-10-01 Listed $345,000 SDMLS
• 2025-10-01 Listing Removed — SDMLS
• 2024-11-01 Listed $365,000 SDMLS
• 2001-07-27 Sold (Public Records) $100,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $1,477 · +2.1% YoY. Source: county tax records.