1010 Palm Canyon Dr #394 · Borrego Springs, CA 92004

$275,900

3 bd · 2.0 ba · 1,593 sqft · Manufactured public records · 99 Days on market

Built 2003 $173/sqft · 203% above area ↓ 6% since listing

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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 +24.6/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• 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

Lakefront Golf Course Living in RoadRunner Golf & Country Club (55+) Enjoy stunning lakefront living on the #8 green of The Springs at Borrego Golf Course, where panoramic mountain views reflect across the water and create breathtaking sunsets every evening. Built in 2003, this 1,600 sq ft triple-wide home offers the spacious feel of a traditional slab home. Inside, you'll find vaulted ceilings with skylights, abundant natural light, and laminate flooring throughout. The open kitchen features a center island, perfect for cooking and entertaining. Step outside to the back patio overlooking the lake, an ideal setting for gatherings or simply relaxing while watching the incredible local wildlife. Home Features: 1,600 sq ft triple-wide home (built in 2003) Vaulted ceilings with skylights Laminate flooring throughout Open kitchen with island Spacious primary bedroom Large primary bathroom with double sinks 2-car garage plus golf cart parking New upgrades in 2025: 2 new mini split Air conditioners, New evaporative cooler, Complete exterior Paint job, 3 New UV windows. Community Amenities – RoadRunner Golf & Country Club (55+): Residents enjoy resort-style living with access to: 27 holes of golf 24-hour pool & spa Exercise room Banquet and social rooms Tennis & pickleball courts Horseshoes, bocce ball & shuffleboard 1-acre dog park Current space rent: $985/month If you're looking for peaceful lakefront views, golf course living, and an active 55+ community, this home offers the perfect desert retreat.

Key facts

• Lakefront living
• 24 hour pool
• 27 holes of golf

Tags

• LAKEFRONT LIVING
• PANORAMIC MOUNTAIN VIEWS
• OPEN KITCHEN
• BACK PATIO
• 27 HOLES OF GOLF
• 24 HOUR POOL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $276k.

Deal economics

• At list price, monthly cash flow is $568 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $276k).
• Recommended offer: $251k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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; 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 $8k 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 99 days — a 9% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 $251,069 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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 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: 1.01% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.83%
• DSCR: 1.39
• GRM: 8.2

CMA / ARV

• ARV (median comp): $91,454
• List price: $275,900
• Delta: 201.68%
• Verdict: OVERPRICED
• Comps: 14 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)	1,440 (-10%)	2mo	$70,000	$49	78
1010 Palm Canyon Dr #240	0.00mi	2/2.0 (-1)	1,440 (-10%)	3mo	$190,000	$132	77
1010 Palm Canyon Dr #266	0.00mi	2/2.0 (-1)	1,536 (-4%)	16mo	$130,000	$85	76
1010 Palm Canyon Dr #139	0.00mi	2/2.0 (-1)	1,440 (-10%)	4mo	$65,000	$45	75
1010 Palm Canyon Dr #159	0.00mi	2/2.0 (-1)	1,392 (-13%)	2mo	$69,000	$50	73
1010 Palm Canyon Dr #89	0.00mi	2/2.0 (-1)	1,440 (-10%)	8mo	$113,500	$79	72
1010 Palm Canyon Dr #319	0.00mi	2/2.0 (-1)	1,440 (-10%)	10mo	$108,000	$75	71
1010 Palm Canyon Dr #310	0.00mi	2/2.0 (-1)	1,440 (-10%)	11mo	$99,500	$69	70
1010 Palm Canyon Dr #340	0.00mi	2/2.0 (-1)	1,440 (-10%)	12mo	$80,000	$56	69
1010 Palm Cyn #168	0.00mi	2/2.0 (-1)	1,824 (+14%)	3mo	$149,000	$82	68
1010 Palm Canyon Dr #83	0.00mi	2/2.0 (-1)	1,440 (-10%)	18mo	$52,500	$36	64
1010 Palm Canyon Dr #306	0.28mi	2/2.0 (-1)	1,536 (-4%)	22mo	$68,000	$44	58

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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-8,624
• Equity at exit: $41,138

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $38,612
• Equity at exit: $23,855

Cash invested: $77,252 (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: 8.2×

Monthly cashflow live

• Estimated rent: $2,792 medium
• Mortgage (P&I): −$1,447
• Tax from tax record: −$76 /mo · $907/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$586
• Net cashflow: $568

Break-even live

Break-even rent $2,073

Max offer price $275,900

Occupancy floor 75%

Sensitivity live

Price	-10% $725	-5% $647	+0% $568	+5% $490	+10% $412
Rent	-10% $348	-5% $458	+0% $568	+5% $679	+10% $789
Rate	-1.0pp $707	-0.5pp $639	base $568	+0.5pp $497	+1.0pp $424

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: $68,975
• Closing costs: $8,277
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $275,900 Active 99 DOM
2. 2026-06-18
   days on market $275,900 Active 98 DOM
3. 2026-06-17
   days on market $275,900 Active 97 DOM
4. 2026-06-16
   days on market $275,900 Active 96 DOM
5. 2026-06-15
   days on market $275,900 Active 95 DOM
6. 2026-06-14
   days on market $275,900 Active 93 DOM
7. 2026-06-12
   days on market $275,900 Active 92 DOM
8. 2026-06-09
   days on market $275,900 Active 89 DOM
9. 2026-06-08
   days on market $275,900 Active 88 DOM
10. 2026-06-07
    days on market $275,900 Active 87 DOM
11. 2026-06-07
    days on market $275,900 Active 86 DOM
12. 2026-06-04
    days on market $275,900 Active 83 DOM
13. 2026-06-02
    days on market $275,900 Active 82 DOM
14. 2026-06-01
    days on market $275,900 Active 81 DOM
15. 2026-05-31
    days on market $275,900 Active 80 DOM
16. 2026-05-31
    days on market $275,900 Active 79 DOM
17. 2026-05-15
    price $275,900 1555-char remark

    Show marketing remark (1555 chars)

    Lakefront Golf Course Living in RoadRunner Golf & Country Club (55+) Enjoy stunning lakefront living on the #8 green of The Springs at Borrego Golf Course, where panoramic mountain views reflect across the water and create breathtaking sunsets every evening. Built in 2003, this 1,600 sq ft triple-wide home offers the spacious feel of a traditional slab home. Inside, you'll find vaulted ceilings with skylights, abundant natural light, and laminate flooring throughout. The open kitchen features a center island, perfect for cooking and entertaining. Step outside to the back patio overlooking the lake, an ideal setting for gatherings or simply relaxing while watching the incredible local wildlife. Home Features: 1,600 sq ft triple-wide home (built in 2003) Vaulted ceilings with skylights Laminate flooring throughout Open kitchen with island Spacious primary bedroom Large primary bathroom with double sinks 2-car garage plus golf cart parking New upgrades in 2025: 2 new mini split Air conditioners, New evaporative cooler, Complete exterior Paint job, 3 New UV windows. Community Amenities – RoadRunner Golf & Country Club (55+): Residents enjoy resort-style living with access to: 27 holes of golf 24-hour pool & spa Exercise room Banquet and social rooms Tennis & pickleball courts Horseshoes, bocce ball & shuffleboard 1-acre dog park Current space rent: $985/month If you're looking for peaceful lakefront views, golf course living, and an active 55+ community, this home offers the perfect desert retreat.

18. 2026-03-12
    listed $277,000 Active 1555-char remark

    Show marketing remark (1555 chars)

    Lakefront Golf Course Living in RoadRunner Golf & Country Club (55+) Enjoy stunning lakefront living on the #8 green of The Springs at Borrego Golf Course, where panoramic mountain views reflect across the water and create breathtaking sunsets every evening. Built in 2003, this 1,600 sq ft triple-wide home offers the spacious feel of a traditional slab home. Inside, you'll find vaulted ceilings with skylights, abundant natural light, and laminate flooring throughout. The open kitchen features a center island, perfect for cooking and entertaining. Step outside to the back patio overlooking the lake, an ideal setting for gatherings or simply relaxing while watching the incredible local wildlife. Home Features: 1,600 sq ft triple-wide home (built in 2003) Vaulted ceilings with skylights Laminate flooring throughout Open kitchen with island Spacious primary bedroom Large primary bathroom with double sinks 2-car garage plus golf cart parking New upgrades in 2025: 2 new mini split Air conditioners, New evaporative cooler, Complete exterior Paint job, 3 New UV windows. Community Amenities – RoadRunner Golf & Country Club (55+): Residents enjoy resort-style living with access to: 27 holes of golf 24-hour pool & spa Exercise room Banquet and social rooms Tennis & pickleball courts Horseshoes, bocce ball & shuffleboard 1-acre dog park Current space rent: $985/month If you're looking for peaceful lakefront views, golf course living, and an active 55+ community, this home offers the perfect desert retreat.

19. 2026-03-07
    historical
20. 2026-01-29
    price $295,000
21. 2025-12-29
    status Active
22. 2025-12-26
    historical
23. 2025-11-26
    price $300,000
24. 2025-07-25
    listed $325,000 Active
25. 2024-03-05
    soldstatus $280,000 Closed Sale
26. 2023-09-11
    listed $295,000 Active

ⓘ 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: $907 · $76/mo
• Projected year-2 tax: $2,097 · $175/mo
• Expected delta: +$1,190/yr (+$99/mo · 131.2%)

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

Taxation est. · year 1

• Rental income: $33,507
• − Mortgage interest: −$15,455
• − Property taxes: −$907
• − Insurance: −$1,380
• − Repairs & maintenance: −$2,681
• − Management: −$2,681
• − Depreciation: −$8,026
• Taxable income: $2,379
• Est. tax owed @ 24.0%: −$571
• After-tax cash flow: $6,251/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

-6.5% since first listed

10 events — show timeline

• 2026-05-15 Price Changed $275,900 SDMLS
• 2026-03-12 Listed $277,000 SDMLS
• 2026-03-07 Listing Removed — CRMLS
• 2026-01-29 Price Changed $295,000 CRMLS
• 2025-12-29 Relisted — CRMLS
• 2025-12-26 Listing Removed — CRMLS
• 2025-11-26 Price Changed $300,000 CRMLS
• 2025-07-25 Listed $325,000 CRMLS
• 2024-03-05 Sold (MLS) $280,000 CRMLS
• 2023-09-11 Listed $295,000 CRMLS

Property tax history

+1.9%/yr

Latest (2013): $907 · +1.8% YoY. Source: county tax records.