1010 Palm Canyon Dr #278 · Borrego Springs, CA 92004

$198,000

2 bd · 2.0 ba · 1,680 sqft · Manufactured · 53 Days on market

Built 1978 $118/sqft · 102% 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 +27.7/30.0
• DSCR +9.7/10.0
• 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

Big! Beautiful! Views! Triple wide home lakeside and golf course at Roadrunner Club. Enjoy the views of the mountains and the lake from most every room or relaxing on the nicely appointed deck Large lot with 7 citrus trees and lots more. Completely furnished down to the kitchenware and linens. All appliances incl a freezer. Golf cart too! Turn key home. Come relax, golf, swim, tennis, bocce, pickleball, concerts, pool exercise groups and Waterball, the list goes on. Very active at this 55+ resort

Key facts

• Lakefront property
• Mature fruit trees
• Bonus rooms

Tags

• LAKEFRONT PROPERTY
• BONUS ROOMS
• MATURE FRUIT TREES
• EXPANSIVE BACKYARD PATIO
• TRANQUIL WATER FOUNTAIN
• ABUNDANCE OF WILDLIFE

Property features AI

Finance

• HOA & community: Located in a senior community (RoadRunner Club); Community-managed pool

Exterior

• Parking: 2 parking spaces
• Utilities: Shared septic
• Home design: Manufactured home; Single-story
• Construction: Shingle roof
• Exterior features: Barbecue; Partial wood fencing; Shed(s); Association pool (heated, filtered, in-ground, community)

Interior

• Kitchen: Refrigerator; Dishwasher; Built-in range; Gas oven; Gas cooktop; Microwave; Range hood; Disposal
• Bedrooms: 2 possible bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning (gas); Forced air heating (natural gas)
• Interior features: Dishwasher; Disposal; Microwave; Range hood; Built-in range; Gas oven; Gas cooktop
• Laundry & utility: Washer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $198k.

Deal economics

• At list price, monthly cash flow is $474 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $198k).
• Recommended offer: $192k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 $58k; list at $198k implies a 244% 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 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $192,060 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 9.91%
• Cash-on-cash: 12.90%
• DSCR: 1.57
• GRM: 6.6

CMA / ARV

• ARV (median comp): $98,028
• List price: $198,000
• Delta: 101.98%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1010 Palm Cyn #168	0.28mi	2/2.0	1,824 (+9%)	3mo	$149,000	$82	70
1010 Palm Canyon Dr #306	0.00mi	2/2.0	1,536 (-9%)	22mo	$68,000	$44	68
1010 Palm Canyon Dr #167	0.28mi	2/2.0	1,440 (-14%)	2mo	$70,000	$49	62
1010 Palm Canyon Dr #240	0.28mi	2/2.0	1,440 (-14%)	3mo	$190,000	$132	61
1010 Palm Canyon Dr #266	0.28mi	2/2.0	1,536 (-9%)	16mo	$130,000	$85	59
1010 Palm Canyon Dr #139	0.28mi	2/2.0	1,440 (-14%)	4mo	$65,000	$45	59
1010 Palm Canyon Dr #89	0.28mi	2/2.0	1,440 (-14%)	8mo	$113,500	$79	56
1010 Palm Canyon Dr #319	0.28mi	2/2.0	1,440 (-14%)	10mo	$108,000	$75	55
1010 Palm Canyon Dr #310	0.28mi	2/2.0	1,440 (-14%)	11mo	$99,500	$69	54
1010 Palm Canyon Dr #340	0.28mi	2/2.0	1,440 (-14%)	12mo	$80,000	$56	53
1010 Palm Canyon Dr #83	0.28mi	2/2.0	1,440 (-14%)	17mo	$52,500	$36	48
1010 Palm Canyon Dr #151	0.28mi	2/2.0	1,440 (-14%)	22mo	$145,000	$101	44

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: -0.9%
• Equity multiple: 0.97×
• Total profit: $-1,788
• Equity at exit: $29,522

10-year hold

• IRR: 8.9%
• Equity multiple: 1.68×
• Total profit: $37,766
• Equity at exit: $17,119

Cash invested: $55,440 (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: $2,487 medium
• Mortgage (P&I): −$1,038
• Tax est. 1.5%: −$248 /mo · $2,970/yr
• Insurance: −$82
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $474

Break-even live

Break-even rent $1,887

Max offer price $198,000

Occupancy floor 76%

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: $49,500
• Closing costs: $5,940
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $198,000 Active 53 DOM
2. 2026-06-18
   days on market $198,000 Active 52 DOM
3. 2026-06-17
   days on market $198,000 Active 51 DOM
4. 2026-06-16
   days on market $198,000 Active 50 DOM
5. 2026-06-15
   days on market $198,000 Active 49 DOM
6. 2026-06-14
   days on market $198,000 Active 47 DOM
7. 2026-06-12
   days on market $198,000 Active 46 DOM
8. 2026-06-09
   days on market $198,000 Active 43 DOM
9. 2026-06-08
   days on market $198,000 Active 42 DOM
10. 2026-06-07
    days on market $198,000 Active 41 DOM
11. 2026-06-07
    days on market $198,000 Active 40 DOM
12. 2026-06-04
    days on market $198,000 Active 37 DOM
13. 2026-06-02
    days on market $198,000 Active 36 DOM
14. 2026-06-01
    days on market $198,000 Active 35 DOM
15. 2026-05-31
    days on market $198,000 Active 34 DOM
16. 2026-05-31
    days on market $198,000 Active 33 DOM
17. 2026-04-24
    listed $198,000 Active 1637-char remark
18. 2018-06-05
    soldstatus $57,500 672-char remark

    Show marketing remark (501 chars)

    Big! Beautiful! Views! Triple wide home lakeside and golf course at Roadrunner Club. Enjoy the views of the mountains and the lake from most every room or relaxing on the nicely appointed deck Large lot with 7 citrus trees and lots more. Completely furnished down to the kitchenware and linens. All appliances incl a freezer. Golf cart too! Turn key home. Come relax, golf, swim, tennis, bocce, pickleball, concerts, pool exercise groups and Waterball, the list goes on. Very active at this 55+ resort

19. 2018-06-05
    soldstatus $57,500 Sold 672-char remark

    Show marketing remark (501 chars)

    Big! Beautiful! Views! Triple wide home lakeside and golf course at Roadrunner Club. Enjoy the views of the mountains and the lake from most every room or relaxing on the nicely appointed deck Large lot with 7 citrus trees and lots more. Completely furnished down to the kitchenware and linens. All appliances incl a freezer. Golf cart too! Turn key home. Come relax, golf, swim, tennis, bocce, pickleball, concerts, pool exercise groups and Waterball, the list goes on. Very active at this 55+ resort

20. 2018-05-02
    status Pending 672-char remark

    Show marketing remark (501 chars)

    Big! Beautiful! Views! Triple wide home lakeside and golf course at Roadrunner Club. Enjoy the views of the mountains and the lake from most every room or relaxing on the nicely appointed deck Large lot with 7 citrus trees and lots more. Completely furnished down to the kitchenware and linens. All appliances incl a freezer. Golf cart too! Turn key home. Come relax, golf, swim, tennis, bocce, pickleball, concerts, pool exercise groups and Waterball, the list goes on. Very active at this 55+ resort

21. 2018-04-26
    historical 672-char remark

    Show marketing remark (501 chars)

    Big! Beautiful! Views! Triple wide home lakeside and golf course at Roadrunner Club. Enjoy the views of the mountains and the lake from most every room or relaxing on the nicely appointed deck Large lot with 7 citrus trees and lots more. Completely furnished down to the kitchenware and linens. All appliances incl a freezer. Golf cart too! Turn key home. Come relax, golf, swim, tennis, bocce, pickleball, concerts, pool exercise groups and Waterball, the list goes on. Very active at this 55+ resort

22. 2018-04-10
    listed $57,500 672-char remark

    Show marketing remark (501 chars)

    Big! Beautiful! Views! Triple wide home lakeside and golf course at Roadrunner Club. Enjoy the views of the mountains and the lake from most every room or relaxing on the nicely appointed deck Large lot with 7 citrus trees and lots more. Completely furnished down to the kitchenware and linens. All appliances incl a freezer. Golf cart too! Turn key home. Come relax, golf, swim, tennis, bocce, pickleball, concerts, pool exercise groups and Waterball, the list goes on. Very active at this 55+ resort

23. 2018-04-10
    listed $57,500 Active 672-char remark

    Show marketing remark (501 chars)

    Big! Beautiful! Views! Triple wide home lakeside and golf course at Roadrunner Club. Enjoy the views of the mountains and the lake from most every room or relaxing on the nicely appointed deck Large lot with 7 citrus trees and lots more. Completely furnished down to the kitchenware and linens. All appliances incl a freezer. Golf cart too! Turn key home. Come relax, golf, swim, tennis, bocce, pickleball, concerts, pool exercise groups and Waterball, the list goes on. Very active at this 55+ resort

ⓘ 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 4/10 Moderate FEMA zone AO · 21% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 19 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: $29,841
• − Mortgage interest: −$11,091
• − Property taxes: −$2,970
• − Insurance: −$2,458
• − Repairs & maintenance: −$2,387
• − Management: −$2,387
• − Depreciation: −$5,760
• Taxable income: $2,788
• Est. tax owed @ 24.0%: −$669
• After-tax cash flow: $5,018/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

+244.3% since first listed

7 events — show timeline

• 2026-04-24 Listed $198,000 SDMLS
• 2018-06-05 Sold (MLS) $57,500 SDMLS
• 2018-06-05 Sold (MLS) $57,500 CRMLS
• 2018-05-02 Pending — SDMLS
• 2018-04-26 Listing Removed — CRMLS
• 2018-04-10 Listed $57,500 SDMLS
• 2018-04-10 Listed $57,500 CRMLS