2610-2612 Double O Rd · Borrego Springs, CA 92004

$350,000

4 bd · 2.0 ba · 1,730 sqft · MultiFamily public records · 119 Days on market

Built 1998 0.60 ac lot $202/sqft · at area comps Est $356k · 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 +8.2/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great income property in Borrego Springs. Quiet street on a Cul de Sac.

Key facts

• Quiet street
• Cul de sac
• 0.6 acre lot

Tags

• QUIET STREET
• CUL DE SAC

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $350k).
• Recommended offer: $318k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.1% 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 $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 $98k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($318k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y 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 $156k; list at $350k implies a 125% 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 8→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $318,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.81% ✓
• Cap rate: 16.09%
• Cash-on-cash: 35.00%
• DSCR: 2.56
• GRM: 4.6

CMA / ARV

• ARV (median comp): $355,532
• List price: $350,000
• Delta: -1.56%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 28.8%
• Equity multiple: 2.20×
• Total profit: $117,581
• Equity at exit: $52,186

10-year hold

• IRR: 36.2%
• Equity multiple: 4.34×
• Total profit: $326,854
• Equity at exit: $30,262

Cash invested: $98,000 (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 92004

• Home prices YoY: -18.4%
• Active inventory: 174
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $6,352 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$178 /mo · $2,137/yr
• Insurance: −$146
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,334
• Net cashflow: $2,736

Break-even live

Break-even rent $2,888

Max offer price $350,000

Occupancy floor 52%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$6,352
Total (2 units)			$6,352

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-19
   days on market $350,000 Active 119 DOM
2. 2026-06-18
   days on market $350,000 Active 118 DOM
3. 2026-06-17
   days on market $350,000 Active 117 DOM
4. 2026-06-16
   days on market $350,000 Active 116 DOM
5. 2026-06-15
   days on market $350,000 Active 115 DOM
6. 2026-06-14
   days on market $350,000 Active 113 DOM
7. 2026-06-12
   days on market $350,000 Active 112 DOM
8. 2026-06-09
   days on market $350,000 Active 109 DOM
9. 2026-06-08
   days on market $350,000 Active 108 DOM
10. 2026-06-07
    days on market $350,000 Active 107 DOM
11. 2026-06-07
    days on market $350,000 Active 106 DOM
12. 2026-06-04
    days on market $350,000 Active 103 DOM
13. 2026-06-02
    days on market $350,000 Active 102 DOM
14. 2026-06-01
    days on market $350,000 Active 101 DOM
15. 2026-05-31
    days on market $350,000 Active 100 DOM
16. 2026-05-31
    days on market $350,000 Active 99 DOM
17. 2026-02-20
    listed $350,000 Active 71-char remark

    Show marketing remark (71 chars)

    Great income property in Borrego Springs. Quiet street on a Cul de Sac.

18. 2026-02-08
    historical
19. 2025-10-21
    price $375,000
20. 2025-08-10
    listed $395,000 Active
21. 2015-04-16
    soldstatus $155,500
22. 2009-05-19
    historical
23. 2009-05-19
    historical
24. 2008-11-18
    listed $269,900
25. 2008-11-18
    listed $269,900
26. 2008-07-23
    historical
27. 2008-07-23
    historical
28. 2008-04-23
    listed $269,000
29. 2008-04-23
    listed $269,000
30. 2003-11-06
    soldstatus $185,000
31. 2003-10-03
    soldstatus $185,000
32. 2002-08-22
    listed $210,000

ⓘ 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: $2,137 · $178/mo
• Projected year-2 tax: $2,660 · $222/mo
• Expected delta: +$523/yr (+$44/mo · 24.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 8 d/yr ≥112°F today · 26 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $76,224
• − Mortgage interest: −$19,605
• − Property taxes: −$2,137
• − Insurance: −$3,218
• − Repairs & maintenance: −$6,098
• − Management: −$6,098
• − Depreciation: −$10,182
• Taxable income: $28,886
• Est. tax owed @ 24.0%: −$6,933
• After-tax cash flow: $25,904/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

+66.7% since first listed

16 events — show timeline

• 2026-02-20 Listed $350,000 SDMLS
• 2026-02-08 Listing Removed — SDMLS
• 2025-10-21 Price Changed $375,000 SDMLS
• 2025-08-10 Listed $395,000 SDMLS
• 2015-04-16 Sold (Public Records) $155,500 Public Records
• 2009-05-19 Listing Removed — CRMLS
• 2009-05-19 Listing Removed — SDMLS
• 2008-11-18 Listed $269,900 CRMLS
• 2008-11-18 Listed $269,900 SDMLS
• 2008-07-23 Listing Removed — CRMLS
• 2008-07-23 Listing Removed — SDMLS
• 2008-04-23 Listed $269,000 CRMLS
• 2008-04-23 Listed $269,000 SDMLS
• 2003-11-06 Sold (MLS) $185,000 CRMLS
• 2003-10-03 Sold (Public Records) $185,000 Public Records
• 2002-08-22 Listed $210,000 CRMLS

Property tax history

-0.1%/yr

Latest (2025): $2,137 · +2.1% YoY. Source: county tax records.