202 Pointing Rock #31 · Borrego Springs, CA 92004

$265,000

2 bd · 2.0 ba · 1,712 sqft · Townhouse public records · 71 Days on market

Built 1980 8.87 ac lot $155/sqft · 9% below area Est $291k · 9% under $758/mo HOA · 19% of rent

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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 +27.3/30.0
• ARV discount +11.5/15.0
• 1% rule +10.0/10.0
• DSCR +9.5/10.0
• 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

Single-level end unit in a prime location within Vista Villas, a charming community of just 31 homes featuring an inviting pool and spa, plus tennis and pickleball courts. This home offers vaulted ceilings and Saltillo tile flooring throughout, creating a warm and welcoming feel. The cozy family-room fireplace and upgraded windows add comfort and efficiency. Sliding doors in the living room, family room, and primary bedroom frame close-up views of Indian Head Mountain and open to a very private and beautifully landscaped backyard with a covered patio and Saltillo-tiled pavers—perfect for relaxing or entertaining. Additional features include ceiling fans, mini-splits in the family room and primary bedroom, and an oversized two-car garage with direct access and a large utility room.

Key facts

• Pickleball courts
• Spa
• Inviting pool

Tags

• INVITING POOL
• SPA
• TENNIS COURTS
• PICKLEBALL COURTS
• VAULTED CEILINGS
• SALTILLO TILE FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $265k.

Deal economics

• At list price, monthly cash flow is $642 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $265k).
• Recommended offer: $249k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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; 2 comparable units currently listed for rent nearby; 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 71 days — a 6% lower offer ($249k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 19y 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 $150k; list at $265k implies a 77% 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 10→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $249,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.52% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.37%
• DSCR: 1.55
• GRM: 5.5

CMA / ARV

• ARV (median comp): $290,824
• List price: $265,000
• Delta: -8.88%
• Verdict: FAIR
• Comps: 14 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 Pointing Rock Dr #18	0.00mi	2/2.0	1,738 (+2%)	9mo	$260,000	$150	90
202 Pointing Rock Dr #28	0.00mi	2/2.0	1,712 (0%)	17mo	$260,000	$152	85

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: -0.5%
• Equity multiple: 0.98×
• Total profit: $-1,530
• Equity at exit: $39,512

10-year hold

• IRR: 9.3%
• Equity multiple: 1.72×
• Total profit: $53,367
• Equity at exit: $22,912

Cash invested: $74,200 (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: 5.5×

Monthly cashflow live

• Estimated rent: $4,028 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$159 /mo · $1,908/yr
• Insurance: −$110
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$758
• Vacancy / Maint / Mgmt: −$846
• Net cashflow: $642

Break-even live

Break-even rent $3,214

Max offer price $265,000

Occupancy floor 79%

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1586 De Anza Dr Borrego Springs, CA	2.0	2.0	2236	$5,000	$2.24	2d	1	0.52mi
344 Velite Dr Borrego Springs, CA	3.0	2.0	2005	$2,500	$1.25	2d	1	0.91mi

HOA detail

• Monthly dues: $758 · $9,096/yr
• Likely covers: pool

Listing history 50 events

1. 2026-06-19
   days on market $265,000 Active 71 DOM
2. 2026-06-18
   days on market $265,000 Active 70 DOM
3. 2026-06-17
   days on market $265,000 Active 69 DOM
4. 2026-06-16
   days on market $265,000 Active 68 DOM
5. 2026-06-15
   days on market $265,000 Active 67 DOM
6. 2026-06-14
   days on market $265,000 Active 65 DOM
7. 2026-06-12
   days on market $265,000 Active 64 DOM
8. 2026-06-09
   days on market $265,000 Active 61 DOM
9. 2026-06-08
   days on market $265,000 Active 60 DOM
10. 2026-06-07
    days on market $265,000 Active 59 DOM
11. 2026-06-07
    days on market $265,000 Active 58 DOM
12. 2026-06-04
    days on market $265,000 Active 55 DOM
13. 2026-06-02
    days on market $265,000 Active 54 DOM
14. 2026-06-01
    days on market $265,000 Active 53 DOM
15. 2026-05-31
    days on market $265,000 Active 52 DOM
16. 2026-05-31
    days on market $265,000 Active 51 DOM
17. 2026-05-13
    price $265,000 797-char remark

    Show marketing remark (797 chars)

    Single-level end unit in a prime location within Vista Villas, a charming community of just 31 homes featuring an inviting pool and spa, plus tennis and pickleball courts. This home offers vaulted ceilings and Saltillo tile flooring throughout, creating a warm and welcoming feel. The cozy family-room fireplace and upgraded windows add comfort and efficiency. Sliding doors in the living room, family room, and primary bedroom frame close-up views of Indian Head Mountain and open to a very private and beautifully landscaped backyard with a covered patio and Saltillo-tiled pavers—perfect for relaxing or entertaining. Additional features include ceiling fans, mini-splits in the family room and primary bedroom, and an oversized two-car garage with direct access and a large utility room.

18. 2026-04-09
    listed $269,000 Active 797-char remark

    Show marketing remark (797 chars)

    Single-level end unit in a prime location within Vista Villas, a charming community of just 31 homes featuring an inviting pool and spa, plus tennis and pickleball courts. This home offers vaulted ceilings and Saltillo tile flooring throughout, creating a warm and welcoming feel. The cozy family-room fireplace and upgraded windows add comfort and efficiency. Sliding doors in the living room, family room, and primary bedroom frame close-up views of Indian Head Mountain and open to a very private and beautifully landscaped backyard with a covered patio and Saltillo-tiled pavers—perfect for relaxing or entertaining. Additional features include ceiling fans, mini-splits in the family room and primary bedroom, and an oversized two-car garage with direct access and a large utility room.

19. 2015-07-31
    soldstatus $150,000 Sold 311-char remark

    Show marketing remark (311 chars)

    Vista Villas - A must see 1 level corner condo affording loads of privacy and big views of Indian head. Priced at under $100 per square foot! Features include new dual pane windows, fireplace, skylights, wet bar, separate laundry room, vaulted ceilings and neutral d?cor. Move-In ready and partially furnished!!

20. 2015-07-31
    soldstatus $150,000

    Show marketing remark (311 chars)

    Vista Villas - A must see 1 level corner condo affording loads of privacy and big views of Indian head. Priced at under $100 per square foot! Features include new dual pane windows, fireplace, skylights, wet bar, separate laundry room, vaulted ceilings and neutral d?cor. Move-In ready and partially furnished!!

21. 2015-06-30
    status Pending 311-char remark

    Show marketing remark (311 chars)

    Vista Villas - A must see 1 level corner condo affording loads of privacy and big views of Indian head. Priced at under $100 per square foot! Features include new dual pane windows, fireplace, skylights, wet bar, separate laundry room, vaulted ceilings and neutral d?cor. Move-In ready and partially furnished!!

22. 2015-06-07
    status Active 311-char remark

    Show marketing remark (311 chars)

    Vista Villas - A must see 1 level corner condo affording loads of privacy and big views of Indian head. Priced at under $100 per square foot! Features include new dual pane windows, fireplace, skylights, wet bar, separate laundry room, vaulted ceilings and neutral d?cor. Move-In ready and partially furnished!!

23. 2015-06-03
    status Pending 311-char remark

    Show marketing remark (311 chars)

    Vista Villas - A must see 1 level corner condo affording loads of privacy and big views of Indian head. Priced at under $100 per square foot! Features include new dual pane windows, fireplace, skylights, wet bar, separate laundry room, vaulted ceilings and neutral d?cor. Move-In ready and partially furnished!!

24. 2015-03-07
    price $155,000 311-char remark

    Show marketing remark (311 chars)

    Vista Villas - A must see 1 level corner condo affording loads of privacy and big views of Indian head. Priced at under $100 per square foot! Features include new dual pane windows, fireplace, skylights, wet bar, separate laundry room, vaulted ceilings and neutral d?cor. Move-In ready and partially furnished!!

25. 2013-10-15
    listed $168,000 Active 311-char remark

    Show marketing remark (311 chars)

    Vista Villas - A must see 1 level corner condo affording loads of privacy and big views of Indian head. Priced at under $100 per square foot! Features include new dual pane windows, fireplace, skylights, wet bar, separate laundry room, vaulted ceilings and neutral d?cor. Move-In ready and partially furnished!!

26. 2013-08-01
    historical
27. 2013-02-01
    listed $170,000 Active
28. 2013-02-01
    historical
29. 2013-01-02
    status Active
30. 2013-01-02
    historical
31. 2012-10-21
    price $189,900
32. 2012-07-06
    price $199,900 Active
33. 2012-07-06
    status Active
34. 2012-07-01
    historical
35. 2012-01-05
    price $219,900
36. 2011-12-03
    listed $249,000 Active
37. 2011-08-01
    historical
38. 2011-01-08
    listed $275,000 Active
39. 2011-01-07
    historical
40. 2010-07-08
    listed $275,000 Active
41. 2010-06-30
    historical
42. 2010-01-05
    price $299,000
43. 2009-06-30
    listed $299,000
44. 2008-04-24
    historical
45. 2007-10-26
    listed $335,000
46. 2000-11-29
    soldstatus $169,000
47. 1999-09-01
    soldstatus $130,000
48. 1997-12-01
    soldstatus $130,000
49. 1993-12-16
    soldstatus $90,000
50. 1993-12-16
    soldstatus $100,000

ⓘ 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: $1,908 · $159/mo
• Projected year-2 tax: $2,014 · $168/mo
• Expected delta: +$106/yr (+$9/mo · 5.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 10 d/yr ≥112°F today · 28 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: $48,332
• − Mortgage interest: −$14,844
• − Property taxes: −$1,908
• − Insurance: −$2,792
• − Repairs & maintenance: −$3,867
• − Management: −$3,867
• − HOA: −$9,096
• − Depreciation: −$7,709
• Taxable income: $4,248
• Est. tax owed @ 24.0%: −$1,020
• After-tax cash flow: $6,689/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

+194.4% since first listed

34 events — show timeline

• 2026-05-13 Price Changed $265,000 CRMLS
• 2026-04-09 Listed $269,000 CRMLS
• 2015-07-31 Sold (Public Records) $150,000 Public Records
• 2015-07-31 Sold (MLS) $150,000 SDMLS
• 2015-06-30 Pending — SDMLS
• 2015-06-07 Relisted — SDMLS
• 2015-06-03 Pending — SDMLS
• 2015-03-07 Price Changed $155,000 SDMLS
• 2013-10-15 Listed $168,000 SDMLS
• 2013-08-01 Listing Removed — SDMLS
• 2013-02-01 Listed $170,000 SDMLS
• 2013-02-01 Listing Removed — SDMLS
• 2013-01-02 Relisted — SDMLS
• 2013-01-02 Listing Removed — SDMLS
• 2012-10-21 Price Changed $189,900 SDMLS
• 2012-07-06 Relisted — SDMLS
• 2012-07-06 Price Changed $199,900 SDMLS
• 2012-07-01 Listing Removed — SDMLS
• 2012-01-05 Price Changed $219,900 SDMLS
• 2011-12-03 Listed $249,000 SDMLS
• 2011-08-01 Listing Removed — SDMLS
• 2011-01-08 Listed $275,000 SDMLS
• 2011-01-07 Listing Removed — SDMLS
• 2010-07-08 Listed $275,000 SDMLS
• 2010-06-30 Listing Removed — SDMLS
• 2010-01-05 Price Changed $299,000 SDMLS
• 2009-06-30 Listed $299,000 SDMLS
• 2008-04-24 Listing Removed — SDMLS
• 2007-10-26 Listed $335,000 SDMLS
• 2000-11-29 Sold (Public Records) $169,000 Public Records
• 1999-09-01 Sold (Public Records) $130,000 Public Records
• 1997-12-01 Sold (Public Records) $130,000 Public Records
• 1993-12-16 Sold (Public Records) $100,000 Public Records
• 1993-12-16 Sold (Public Records) $90,000 Public Records

Property tax history

-0.4%/yr

Latest (2025): $1,908 · +2.2% YoY. Source: county tax records.