351 Palm Canyon Dr #77 · Borrego Springs, CA 92004

$89,900

2 bd · 2.0 ba · 960 sqft · Manufactured · 141 Days on market

Built 2014 $735/mo HOA · 32% of rent ↓ 3% since listing

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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

Very nicely appointed double wide Manufactured Home. This Golden Pacific was built in 2014, with many features including, vaulted ceilings, crown molding, newer stainless appliances, with a 5 burner stove. All is propane. Blinds throughout, dual pane windows, 3 ceiling fans with a neutral modern interior. This is a 55+ community, with a land lease of $735.00 per. month, water $65.00, trash $13.00, with a monthly pet fee of $25.00. SDG & E and Direct TV for services. Nice relaxing setting, boasting mountain views with part time on site management. Ask for Lynda, she's eager to help. Lots of hiking, shopping and restaurants nearby. There is a clubhouse and pool with a bbq. This complex is clean and well maintained, on occasion management provides entertainment. This park does not disappoint. Priced to sell! Buyer to verify all before the close of escrow.

Key facts

• 5 burner stove
• Ceiling fans
• Vaulted ceilings

Tags

• VAULTED CEILINGS
• CROWN MOLDING
• NEWER STAINLESS APPLIANCES
• 5 BURNER STOVE
• DUAL PANE WINDOWS
• CEILING FANS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $310 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.1% 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 $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo; HOA is 32% of rent.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance); extreme-heat days projected 9→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 days. Have you received any prior offers? Is the seller open to a 12% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.52% ✓
• Cap rate: 12.06%
• Cash-on-cash: 20.60%
• DSCR: 1.92
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $57,600
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
351 Palm Cyn #65	0.00mi	2/1.0	870 (-9%)	22mo	$52,500	$60	62

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: 5.8%
• Equity multiple: 1.23×
• Total profit: $5,722
• Equity at exit: $13,404

10-year hold

• IRR: 15.6%
• Equity multiple: 2.30×
• Total profit: $32,665
• Equity at exit: $7,773

Cash invested: $25,172 (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: 3.3×

Monthly cashflow live

• Estimated rent: $2,264 medium
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$735
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $310

Break-even live

Break-even rent $1,872

Max offer price $89,900

Occupancy floor 81%

Sensitivity live

Price	-10% $372	-5% $341	+0% $310	+5% $279	+10% $248
Rent	-10% $131	-5% $220	+0% $310	+5% $399	+10% $489
Rate	-1.0pp $355	-0.5pp $333	base $310	+0.5pp $286	+1.0pp $263

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $735 · $8,820/yr
• Likely covers: watertrashpool

Listing history 21 events

1. 2026-06-19
   days on market $89,900 Active 141 DOM
2. 2026-06-18
   days on market $89,900 Active 140 DOM
3. 2026-06-17
   days on market $89,900 Active 139 DOM
4. 2026-06-16
   days on market $89,900 Active 138 DOM
5. 2026-06-15
   days on market $89,900 Active 137 DOM
6. 2026-06-14
   days on market $89,900 Active 135 DOM
7. 2026-06-12
   days on market $89,900 Active 134 DOM
8. 2026-06-09
   days on market $89,900 Active 131 DOM
9. 2026-06-08
   days on market $89,900 Active 130 DOM
10. 2026-06-07
    days on market $89,900 Active 129 DOM
11. 2026-06-07
    days on market $89,900 Active 128 DOM
12. 2026-06-04
    days on market $89,900 Active 125 DOM
13. 2026-06-02
    days on market $89,900 Active 124 DOM
14. 2026-06-01
    days on market $89,900 Active 123 DOM
15. 2026-05-31
    days on market $89,900 Active 122 DOM
16. 2026-05-31
    days on market $89,900 Active 121 DOM
17. 2026-01-27
    listed $89,900 Active 869-char remark

    Show marketing remark (869 chars)

    Very nicely appointed double wide Manufactured Home. This Golden Pacific was built in 2014, with many features including, vaulted ceilings, crown molding, newer stainless appliances, with a 5 burner stove. All is propane. Blinds throughout, dual pane windows, 3 ceiling fans with a neutral modern interior. This is a 55+ community, with a land lease of $735.00 per. month, water $65.00, trash $13.00, with a monthly pet fee of $25.00. SDG & E and Direct TV for services. Nice relaxing setting, boasting mountain views with part time on site management. Ask for Lynda, she's eager to help. Lots of hiking, shopping and restaurants nearby. There is a clubhouse and pool with a bbq. This complex is clean and well maintained, on occasion management provides entertainment. This park does not disappoint. Priced to sell! Buyer to verify all before the close of escrow.

18. 2019-04-16
    historical
19. 2017-11-04
    listed $98,000 Active
20. 2017-08-17
    historical
21. 2017-02-14
    listed $93,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AO · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 9 d/yr ≥112°F today · 27 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: $27,164
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$1,917
• − Repairs & maintenance: −$2,173
• − Management: −$2,173
• − HOA: −$8,820
• − Depreciation: −$2,615
• Taxable income: $3,082
• Est. tax owed @ 24.0%: −$740
• After-tax cash flow: $2,977/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

-3.3% since first listed

5 events — show timeline

• 2026-01-27 Listed $89,900 SDMLS
• 2019-04-16 Listing Removed — SDMLS
• 2017-11-04 Listed $98,000 SDMLS
• 2017-08-17 Listing Removed — SDMLS
• 2017-02-14 Listed $93,000 SDMLS