1010 Palm Canyon Dr #324 · Borrego Springs, CA 92004

$199,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 18 Days on market

Built 1977 7,950 ac lot $138/sqft · 363% above area

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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 +27.9/30.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• 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

Perfectly located in the prestigious 55+ gated community of the Roadrunner Golf & Country Club, you will enjoy all the amenities that a top notch resort has to offer all while owning your own piece of paradise. Situated on the corner, this home has the privacy and lush landscaping that is unrivaled. This recently renovated home has been modernized with beautiful new white quartz kitchen countertops & backsplash, soft closing cabinet hinges, a large farmer's porcelain sink, new fixtures, recessed lighting and stainless steel appliances that include a 5 burner gas stove/oven. 6 brand new ceiling fans have been installed, new interior doors & hardware, all outlets & light switches have been updated, and brand new light colored wood laminate flooring has been installed thru-out. Both bathrooms have custom tile showers, glass doors, updated vanities w/ storage and marble tops. The home has newer energy efficient vinyl windows, custom blinds, 4 new interior custom doors, and a gorgeous beveled glass front door. The forced air furnace and A/C unit have been updated and the interior is freshly painted. An attached 34' x 8' California Room is fully screened in w/ custom slate flooring, lighting, and access to the large backyard patio that over looks the greenbelt. There is a shed and the driveway/carport has room for 3 small cars. The landscaping has been professionally done & is eye-catching with a variety of desert friendly foliage. This is on leased land with space rent. The Roadrunner Club offers a Members-only Executive 18 hole golf course, 24 hour heated salt water pool & mineral spa, tennis, lawn bowling, bocce ball, pickleball, shuffleboard, horseshoes, bbq area & 2 dog parks. Come enjoy what beautiful Borrego Springs and the Anza-Borrego Desert State Park has to offer! Call me today!

Key facts

• Tennis courts
• Mineral spa
• Billiards room

Tags

• 24 HOUR HEATED SALT WATER POOL
• MINERAL SPA
• BILLIARDS ROOM
• LIBRARY
• GYM
• TENNIS COURTS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $199k.

Deal economics

• At list price, monthly cash flow is $610 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $196k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 $1k of loan paydown is wiped out by about $6k 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 $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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 $38k; list at $199k implies a 424% gain — meaningful room to come down on a strong offer.

Recommended offer $196,015 (1.5% below list)

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.26% ✓
• Cap rate: 9.97%
• Cash-on-cash: 13.14%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

• ARV (median comp): $42,946
• List price: $199,000
• Delta: 363.37%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1010 Palm Canyon Dr #167	0.00mi	2/2.0	1,440 (0%)	2mo	$70,000	$49	99
1010 Palm Canyon Dr #240	0.00mi	2/2.0	1,440 (0%)	3mo	$190,000	$132	98
1010 Palm Canyon Dr #139	0.00mi	2/2.0	1,440 (0%)	4mo	$65,000	$45	96
1010 Palm Canyon Dr #159	0.00mi	2/2.0	1,392 (-3%)	2mo	$69,000	$50	93
1010 Palm Canyon Dr #89	0.00mi	2/2.0	1,440 (0%)	8mo	$113,500	$79	93
1010 Palm Canyon Dr #319	0.00mi	2/2.0	1,440 (0%)	10mo	$108,000	$75	92
1010 Palm Canyon Dr #310	0.00mi	2/2.0	1,440 (0%)	11mo	$99,500	$69	91
1010 Palm Canyon Dr #340	0.00mi	2/2.0	1,440 (0%)	12mo	$80,000	$56	90
1010 Palm Canyon Dr #45	0.00mi	2/2.0	1,296 (-10%)	0mo	$46,000	$35	83
1010 Palm Cyn #305	0.00mi	2/2.0	1,248 (-13%)	8mo	$115,000	$92	71
1010 Palm Canyon Dr #35	0.28mi	2/2.0	1,344 (-7%)	6mo	$86,250	$64	71
1010 Palm Canyon Dr #339	0.28mi	2/2.0	1,248 (-13%)	6mo	$140,000	$112	60

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: 3.1%
• Equity multiple: 1.12×
• Total profit: $6,662
• Equity at exit: $29,672

10-year hold

• IRR: 12.7%
• Equity multiple: 2.01×
• Total profit: $56,007
• Equity at exit: $17,206

Cash invested: $55,720 (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: 6.6×

Monthly cashflow live

• Estimated rent: $2,513 medium
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $610

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 71%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $199,000 Active 18 DOM
2. 2026-06-18
   days on market $199,000 Active 17 DOM
3. 2026-06-17
   days on market $199,000 Active 16 DOM
4. 2026-06-16
   days on market $199,000 Active 15 DOM
5. 2026-06-15
   days on market $199,000 Active 14 DOM
6. 2026-06-14
   days on market $199,000 Active 12 DOM
7. 2026-06-12
   days on market $199,000 Active 11 DOM
8. 2026-06-09
   days on market $199,000 Active 8 DOM
9. 2026-06-08
   days on market $199,000 Active 7 DOM
10. 2026-06-07
    days on market $199,000 Active 6 DOM
11. 2026-06-07
    days on market $199,000 Active 5 DOM
12. 2026-06-04
    days on market $199,000 Active 2 DOM
13. 2026-06-02
    days on marketlisting id $199,000 Active 1 DOM
14. 2026-06-01
    days on market $199,000 Active 184 DOM
15. 2026-05-31
    days on market $199,000 Active 183 DOM
16. 2026-05-31
    days on market $199,000 Active 182 DOM
17. 2025-11-28
    listed $199,000 Active 1856-char remark

    Show marketing remark (1856 chars)

    Perfectly located in the prestigious 55+ gated community of the Roadrunner Golf & Country Club, you will enjoy all the amenities that a top notch resort has to offer all while owning your own piece of paradise. Situated on the corner, this home has the privacy and lush landscaping that is unrivaled. This recently renovated home has been modernized with beautiful new white quartz kitchen countertops & backsplash, soft closing cabinet hinges, a large farmer's porcelain sink, new fixtures, recessed lighting and stainless steel appliances that include a 5 burner gas stove/oven. 6 brand new ceiling fans have been installed, new interior doors & hardware, all outlets & light switches have been updated, and brand new light colored wood laminate flooring has been installed thru-out. Both bathrooms have custom tile showers, glass doors, updated vanities w/ storage and marble tops. The home has newer energy efficient vinyl windows, custom blinds, 4 new interior custom doors, and a gorgeous beveled glass front door. The forced air furnace and A/C unit have been updated and the interior is freshly painted. An attached 34' x 8' California Room is fully screened in w/ custom slate flooring, lighting, and access to the large backyard patio that over looks the greenbelt. There is a shed and the driveway/carport has room for 3 small cars. The landscaping has been professionally done & is eye-catching with a variety of desert friendly foliage. This is on leased land with space rent. The Roadrunner Club offers a Members-only Executive 18 hole golf course, 24 hour heated salt water pool & mineral spa, tennis, lawn bowling, bocce ball, pickleball, shuffleboard, horseshoes, bbq area & 2 dog parks. Come enjoy what beautiful Borrego Springs and the Anza-Borrego Desert State Park has to offer! Call me today!

18. 2021-06-03
    soldstatus $38,000 Closed Sale 627-char remark

    Show marketing remark (627 chars)

    Surrounded by mature trees, this beautifully maintained home on the south greenbelt is a real value. Its bright and well designed kitchen has a convenient breakfast bar for everyday meals. Some of the homes great features include, new windows, new a/c condenser, fully remodeled bathrooms with tiled walk in showers, newer furnace and privacy window screens. The living room and dining room are the perfect size for day to day living or entertaining. As an added bonus, there is an enclosed patio with slate flooring. Out back is a fenced patio with lots of shade that opens out to the greenbelt. Land Lease fee $920 per month.

19. 2021-05-09
    status Pending Sale 627-char remark

    Show marketing remark (627 chars)

    Surrounded by mature trees, this beautifully maintained home on the south greenbelt is a real value. Its bright and well designed kitchen has a convenient breakfast bar for everyday meals. Some of the homes great features include, new windows, new a/c condenser, fully remodeled bathrooms with tiled walk in showers, newer furnace and privacy window screens. The living room and dining room are the perfect size for day to day living or entertaining. As an added bonus, there is an enclosed patio with slate flooring. Out back is a fenced patio with lots of shade that opens out to the greenbelt. Land Lease fee $920 per month.

20. 2021-05-07
    status Active 627-char remark

    Show marketing remark (627 chars)

    Surrounded by mature trees, this beautifully maintained home on the south greenbelt is a real value. Its bright and well designed kitchen has a convenient breakfast bar for everyday meals. Some of the homes great features include, new windows, new a/c condenser, fully remodeled bathrooms with tiled walk in showers, newer furnace and privacy window screens. The living room and dining room are the perfect size for day to day living or entertaining. As an added bonus, there is an enclosed patio with slate flooring. Out back is a fenced patio with lots of shade that opens out to the greenbelt. Land Lease fee $920 per month.

21. 2021-04-25
    status Pending Sale 627-char remark

    Show marketing remark (627 chars)

    Surrounded by mature trees, this beautifully maintained home on the south greenbelt is a real value. Its bright and well designed kitchen has a convenient breakfast bar for everyday meals. Some of the homes great features include, new windows, new a/c condenser, fully remodeled bathrooms with tiled walk in showers, newer furnace and privacy window screens. The living room and dining room are the perfect size for day to day living or entertaining. As an added bonus, there is an enclosed patio with slate flooring. Out back is a fenced patio with lots of shade that opens out to the greenbelt. Land Lease fee $920 per month.

22. 2021-03-08
    price $39,000 627-char remark

    Show marketing remark (627 chars)

    Surrounded by mature trees, this beautifully maintained home on the south greenbelt is a real value. Its bright and well designed kitchen has a convenient breakfast bar for everyday meals. Some of the homes great features include, new windows, new a/c condenser, fully remodeled bathrooms with tiled walk in showers, newer furnace and privacy window screens. The living room and dining room are the perfect size for day to day living or entertaining. As an added bonus, there is an enclosed patio with slate flooring. Out back is a fenced patio with lots of shade that opens out to the greenbelt. Land Lease fee $920 per month.

23. 2021-01-05
    listed $44,000 Active 627-char remark

    Show marketing remark (627 chars)

    Surrounded by mature trees, this beautifully maintained home on the south greenbelt is a real value. Its bright and well designed kitchen has a convenient breakfast bar for everyday meals. Some of the homes great features include, new windows, new a/c condenser, fully remodeled bathrooms with tiled walk in showers, newer furnace and privacy window screens. The living room and dining room are the perfect size for day to day living or entertaining. As an added bonus, there is an enclosed patio with slate flooring. Out back is a fenced patio with lots of shade that opens out to the greenbelt. Land Lease fee $920 per month.

24. 2014-07-09
    price $16,900
25. 2014-07-09
    historical
26. 2014-06-05
    listed $25,000 Active

ⓘ 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: $30,160
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$2,413
• − Management: −$2,413
• − Depreciation: −$5,789
• Taxable income: $4,418
• Est. tax owed @ 24.0%: −$1,060
• After-tax cash flow: $6,263/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

+696.0% since first listed

10 events — show timeline

• 2025-11-28 Listed $199,000 CRMLS
• 2021-06-03 Sold (MLS) $38,000 CRMLS
• 2021-05-09 Pending — CRMLS
• 2021-05-07 Relisted — CRMLS
• 2021-04-25 Pending — CRMLS
• 2021-03-08 Price Changed $39,000 CRMLS
• 2021-01-05 Listed $44,000 CRMLS
• 2014-07-09 Listing Removed — SDMLS
• 2014-07-09 Price Changed $16,900 SDMLS
• 2014-06-05 Listed $25,000 SDMLS

Property tax history

-4.1%/yr

Latest (2013): $222 · -0.4% YoY. Source: county tax records.