1010 Palm Canyon Dr #94 · Borrego Springs, CA 92004

$72,000

2 bd · 2.0 ba · 780 sqft · Manufactured · 218 Days on market

Built 1973 $92/sqft · 256% above area

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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 +7.5/15.0
• 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 little gem has been upgraded throughout nicely furnished Freshly painted, new flooring, Good sized Screened porch. Steps to the golf course, close to the Clubhouse. Very active 55+ community with a full calendar Pickleball, Tennis, Bocceball, shuffle board, hiking and walking groups, Card and game groups, 24 hr open heated pool and spa Great dog park two golf courses and a whole lot more Comes with a 1 year home warranty Space rent $925. $5,000 furniture allowance and No rent for the first 3 months.

Key facts

• Dog park
• Clubhouse
• Spa

Tags

• SCREENED PORCH
• GOLF COURSE
• CLUBHOUSE
• DOG PARK
• HEATED POOL
• SPA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $72k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $72k).
• Recommended offer: $63k (12.0% below list) — sets the bar for market timing.
• Cap rate 26.9% 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 $498 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 218 days — a 12% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y 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.

Recommended offer $63,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 218 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 3.05% ✓
• Cap rate: 26.91%
• Cash-on-cash: 73.65%
• DSCR: 4.28
• GRM: 2.7

CMA / ARV

• ARV (median comp): $20,250
• List price: $72,000
• Delta: 255.56%
• Verdict: OVERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 73.4%
• Equity multiple: 4.33×
• Total profit: $67,169
• Equity at exit: $10,735

10-year hold

• IRR: 77.3%
• Equity multiple: 8.94×
• Total profit: $160,096
• Equity at exit: $6,225

Cash invested: $20,160 (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: 2.7×

Monthly cashflow live

• Estimated rent: $2,196 medium
• Mortgage (P&I): −$378
• Tax est. 1.5%: −$90 /mo · $1,080/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $1,237

Break-even live

Break-even rent $630

Max offer price $72,000

Occupancy floor 39%

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $72,000 Active 218 DOM
2. 2026-06-18
   days on market $72,000 Active 217 DOM
3. 2026-06-17
   days on market $72,000 Active 216 DOM
4. 2026-06-16
   days on market $72,000 Active 215 DOM
5. 2026-06-15
   days on market $72,000 Active 214 DOM
6. 2026-06-14
   days on market $72,000 Active 212 DOM
7. 2026-06-12
   days on market $72,000 Active 211 DOM
8. 2026-06-09
   days on market $72,000 Active 208 DOM
9. 2026-06-08
   days on market $72,000 Active 207 DOM
10. 2026-06-07
    days on market $72,000 Active 206 DOM
11. 2026-06-07
    days on market $72,000 Active 205 DOM
12. 2026-06-04
    days on market $72,000 Active 202 DOM
13. 2026-06-02
    days on market $72,000 Active 201 DOM
14. 2026-06-01
    days on market $72,000 Active 200 DOM
15. 2026-05-31
    days on market $72,000 Active 199 DOM
16. 2026-05-31
    days on market $72,000 Active 198 DOM
17. 2025-11-13
    listed $72,000 Active 514-char remark

    Show marketing remark (514 chars)

    This little gem has been upgraded throughout nicely furnished Freshly painted, new flooring, Good sized Screened porch. Steps to the golf course, close to the Clubhouse. Very active 55+ community with a full calendar Pickleball, Tennis, Bocceball, shuffle board, hiking and walking groups, Card and game groups, 24 hr open heated pool and spa Great dog park two golf courses and a whole lot more Comes with a 1 year home warranty Space rent $925. $5,000 furniture allowance and No rent for the first 3 months.

18. 2025-10-01
    historical
19. 2025-02-26
    listed $79,000 Active
20. 2007-05-31
    historical
21. 2006-11-15
    listed $17,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,352
• − Mortgage interest: −$4,033
• − Property taxes: −$1,080
• − Insurance: −$360
• − Repairs & maintenance: −$2,108
• − Management: −$2,108
• − Depreciation: −$2,095
• Taxable income: $14,568
• Est. tax owed @ 24.0%: −$3,496
• After-tax cash flow: $11,351/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

+302.2% since first listed

5 events — show timeline

• 2025-11-13 Listed $72,000 CRMLS
• 2025-10-01 Listing Removed — CRMLS
• 2025-02-26 Listed $79,000 CRMLS
• 2007-05-31 Listing Removed — SDMLS
• 2006-11-15 Listed $17,900 SDMLS