1010 Palm Canyon Dr #45 · Borrego Springs, CA 92004

$60,000

2 bd · 2.0 ba · 1,296 sqft · Manufactured · 107 Days on market

Manufactured home Built 1974 Fair condition $46/sqft · 24% below area Est $79k · 24% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +2.9/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location in the 55+ active community of the Roadrunner Club. This home is located at the end of a cul-de-sac and has great views of the fairway out the front windows. There is an enclosed patio on one side, and a carport and shed w/ electricity on the other. Several recent upgrades include: 2 mini split Air conditioners: 2ton in Living room & 1ton in Main Bedroom. Professionally leveled with several new jacks & piers, New central furnace, All water supply lines replaced. new gfcis in Kitchen. New refrigerator. New washer & dryer. New Dishwasher. The Roadrunner Club offers access to a variety of amenities including 27 holes of golf, a 24hr, heated pool & spa, fitness center, tennis and pickleball courts, bocce ball courts, shuffle ball courts, hiking trails, and daily exercise classes. Space rent is $923pr month.

Key facts

• Views of the fairway
• Cul-de-sac
• Enclosed patio

Tags

• CUL-DE-SAC
• VIEWS OF THE FAIRWAY
• ENCLOSED PATIO
• CARPORT AND SHED
• MINI SPLIT AIR CONDITIONERS
• PROFESSIONALLY LEVELED

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $55k (9.0% below list) — sets the bar for market timing.
• Cap rate 29.2% 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: amenities F, commute F, cost of living 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.
• Zoned schools: Borrego Springs Elementary (math 24% / reading 24%, grade F, #973 of 1,571 statewide, top 73%, 154 students, 84% FRL); Borrego Springs Middle (math 12% / reading 32%, grade F, #388 of 498 statewide, top 80%, 80 students, 92% FRL); Borrego Springs High (math 30% / reading 50%, grade F, #520 of 1,170 statewide, top 45%, 124 students, 87% FRL) — zoned schools average 88% FRL vs 72% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 173 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 $415 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $46k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $54,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 3.29% ✓
• Cap rate: 29.19%
• Cash-on-cash: 81.77%
• DSCR: 4.64
• GRM: 2.5

CMA / ARV

• ARV (median comp): $78,927
• List price: $60,000
• Delta: -23.98%
• Verdict: UNDERPRICED
• Comps: 15 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 #45	0.00mi	2/2.0	1,296 (0%)	0mo	$46,000	$35	100
1010 Palm Cyn #305	0.00mi	2/2.0	1,248 (-4%)	8mo	$115,000	$92	87
1010 Palm Canyon Dr #159	0.00mi	2/2.0	1,392 (+7%)	2mo	$69,000	$50	86
1010 Palm Canyon Dr #167	0.00mi	2/2.0	1,440 (+11%)	2mo	$70,000	$49	80
1010 Palm Canyon Dr #240	0.00mi	2/2.0	1,440 (+11%)	3mo	$190,000	$132	79
1010 Palm Canyon Dr #139	0.00mi	2/2.0	1,440 (+11%)	5mo	$65,000	$45	78
1010 Palm Canyon Dr #339	0.28mi	2/2.0	1,248 (-4%)	6mo	$140,000	$112	76
1010 Palm Canyon Dr #35	0.28mi	2/2.0	1,344 (+4%)	6mo	$86,250	$64	75
1010 Palm Canyon Dr #89	0.00mi	2/2.0	1,440 (+11%)	8mo	$113,500	$79	74
1010 Palm Canyon Dr #319	0.00mi	2/2.0	1,440 (+11%)	10mo	$108,000	$75	73
1010 Palm Canyon Dr #310	0.00mi	2/2.0	1,440 (+11%)	11mo	$99,500	$69	72
1010 Palm Canyon Dr #59	0.28mi	2/2.0	1,152 (-11%)	8mo	$75,000	$65	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: 82.0%
• Equity multiple: 4.76×
• Total profit: $63,221
• Equity at exit: $8,946

10-year hold

• IRR: 85.4%
• Equity multiple: 9.87×
• Total profit: $149,062
• Equity at exit: $5,188

Cash invested: $16,800 (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: 173
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,974 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $1,145

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 37%

Sensitivity live

Price	-10% $1,186	-5% $1,166	+0% $1,145	+5% $1,124	+10% $1,103
Rent	-10% $989	-5% $1,067	+0% $1,145	+5% $1,223	+10% $1,301
Rate	-1.0pp $1,175	-0.5pp $1,160	base $1,145	+0.5pp $1,129	+1.0pp $1,113

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-18
   status Pending 853-char remark

   Show marketing remark (853 chars)

   Great location in the 55+ active community of the Roadrunner Club. This home is located at the end of a cul-de-sac and has great views of the fairway out the front windows. There is an enclosed patio on one side, and a carport and shed w/ electricity on the other. Several recent upgrades include: 2 mini split Air conditioners: 2ton in Living room & 1ton in Main Bedroom. Professionally leveled with several new jacks & piers, New central furnace, All water supply lines replaced. new gfcis in Kitchen. New refrigerator. New washer & dryer. New Dishwasher. The Roadrunner Club offers access to a variety of amenities including 27 holes of golf, a 24hr, heated pool & spa, fitness center, tennis and pickleball courts, bocce ball courts, shuffle ball courts, hiking trails, and daily exercise classes. Space rent is $923pr month.

2. 2026-01-31
   listed $60,000 Active 853-char remark

   Show marketing remark (853 chars)

   Great location in the 55+ active community of the Roadrunner Club. This home is located at the end of a cul-de-sac and has great views of the fairway out the front windows. There is an enclosed patio on one side, and a carport and shed w/ electricity on the other. Several recent upgrades include: 2 mini split Air conditioners: 2ton in Living room & 1ton in Main Bedroom. Professionally leveled with several new jacks & piers, New central furnace, All water supply lines replaced. new gfcis in Kitchen. New refrigerator. New washer & dryer. New Dishwasher. The Roadrunner Club offers access to a variety of amenities including 27 holes of golf, a 24hr, heated pool & spa, fitness center, tennis and pickleball courts, bocce ball courts, shuffle ball courts, hiking trails, and daily exercise classes. Space rent is $923pr month.

3. 2025-08-15
   soldstatus $46,000 Closed 294-char remark

   Show marketing remark (294 chars)

   Spacious home in the 55+ community of the Roadrunner Club. This home is located at the end of a cul-de-sac and has great views of the fairway out the front windows. There is an enclosed patio on one side, and a carport and shed on the other. The larger lot also gives you some extra yard space.

4. 2025-07-14
   status Pending 294-char remark

   Show marketing remark (294 chars)

   Spacious home in the 55+ community of the Roadrunner Club. This home is located at the end of a cul-de-sac and has great views of the fairway out the front windows. There is an enclosed patio on one side, and a carport and shed on the other. The larger lot also gives you some extra yard space.

5. 2025-03-15
   price $50,000 294-char remark

   Show marketing remark (294 chars)

   Spacious home in the 55+ community of the Roadrunner Club. This home is located at the end of a cul-de-sac and has great views of the fairway out the front windows. There is an enclosed patio on one side, and a carport and shed on the other. The larger lot also gives you some extra yard space.

6. 2025-02-25
   price $55,000 294-char remark

   Show marketing remark (294 chars)

   Spacious home in the 55+ community of the Roadrunner Club. This home is located at the end of a cul-de-sac and has great views of the fairway out the front windows. There is an enclosed patio on one side, and a carport and shed on the other. The larger lot also gives you some extra yard space.

7. 2025-02-06
   listed $60,000 Active 294-char remark

   Show marketing remark (294 chars)

   Spacious home in the 55+ community of the Roadrunner Club. This home is located at the end of a cul-de-sac and has great views of the fairway out the front windows. There is an enclosed patio on one side, and a carport and shed on the other. The larger lot also gives you some extra yard space.

ⓘ 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: $23,688
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,895
• − Management: −$1,895
• − Depreciation: −$1,745
• Taxable income: $13,592
• Est. tax owed @ 24.0%: −$3,262
• After-tax cash flow: $10,476/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This mobile home requires moderate renovations, focusing on flooring, appliances, and exterior paint to significantly increase its resale and rental value.

Repairs flagged

• Major Carpet — Severe wear and tear
• Major Flooring — Dated and worn
• Major Kitchen appliances — Older and outdated

Value-add opportunities

• Both New flooring — Enhances appearance and value
• Both New kitchen appliances — Modernizes the space and attracts buyers
• Both Paint exterior — Enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Carpet · Severe wear and tear	Major	$15,000–50,000
Flooring · Dated and worn	Major	$15,000–50,000
Kitchen appliances · Older and outdated	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both New flooring — Enhances appearance and value ↑
• Both New kitchen appliances — Modernizes the space and attracts buyers ↑
• Both Paint exterior — Enhances curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+0.0% since first listed

7 events — show timeline

• 2026-05-18 Pending — SDMLS
• 2026-01-31 Listed $60,000 SDMLS
• 2025-08-15 Sold (MLS) $46,000 SDMLS
• 2025-07-14 Pending — SDMLS
• 2025-03-15 Price Changed $50,000 SDMLS
• 2025-02-25 Price Changed $55,000 SDMLS
• 2025-02-06 Listed $60,000 SDMLS