349 Pointing Rock Dr · Borrego Springs, CA 92004

$415,000

2 bd · 2.0 ba · 1,613 sqft · SingleFamily public records · 172 Days on market

Built 1972 0.48 ac lot $257/sqft · 17% below area Est $498k · 17% under

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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 +22.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +5.4/10.0
• 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

Perched along the perimeter of De Anza Golf Estates, this inviting home offers dramatic, panoramic views of the surrounding mountains and the tranquility of desert living—with no HOA fees. The home features two bedrooms plus a den with a closet, offering the flexibility to function as a third bedroom, though county tax records list it as a two-bedroom residence. One bathroom is conveniently shared between the second bedroom and the den, while the primary suite includes its own private bathroom. The fenced backyard is designed for relaxation and entertaining, complete with a private pool—perfect for enjoying warm desert days. A two-car garage provides ample parking and storage, and an attached laundry room/workshop sits on the south side of the garage with access from both the garage and backyard. Located in the remarkable desert community of Borrego Springs, the home sits within one of the world’s rare International Dark Sky Communities, where the night skies are famously clear and brilliant. This unique village lies in the low desert of northeastern San Diego County and is completely surrounded by the breathtaking Anza-Borrego Desert State Park, the largest desert state park in the contiguous United States, encompassing more than 660,000 acres of protected wilderness. Borrego Springs is a beloved winter resort destination, welcoming seasonal visitors from colder climates who come to enjoy the sunshine and mild winter temperatures. Despite its peaceful seclusion—miles from the nearest stoplight and free of big-box stores—it’s conveniently located less than two hours from San Diego or Palm Springs. Life here moves at a slower, more relaxed pace, allowing residents to fully appreciate the area’s natural beauty and authentic desert charm. Outdoor enthusiasts enjoy nature walks, hiking, biking, off-roading, wildlife watching, photography, and world-class stargazing under pristine night skies. With a welcoming small-town atmosphere and activities for all ages, Borrego Springs offers a truly special lifestyle in every season. While summers are hot, the rest of the year brings comfortable weather and endless opportunities to explore the surrounding desert landscape—making this a unique place to call home.

Key facts

• No hoa fees
• Pool
• Fenced backyard

Tags

• FENCED BACKYARD
• POOL
• NO HOA FEES
• VILLAGE WITHIN A PARK

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $415k.

Deal economics

• At list price, monthly cash flow is $598 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $415k).
• Recommended offer: $365k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 $3k of loan paydown is wiped out by about $12k 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 172 days — a 12% lower offer ($365k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 19y ago; this cycle's ask has dropped $30k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $255k; list at $415k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (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 $365,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 172 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. 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: 1.04% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.47%
• DSCR: 1.33
• GRM: 8.0

CMA / ARV

• ARV (median comp): $498,259
• List price: $415,000
• Delta: -16.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
196 Montezuma Rd	0.38mi	2/2.5	1,729 (+7%)	6mo	$470,000	$272	63
1471 De Anza Dr	0.71mi	2/2.0	1,646 (+2%)	9mo	$450,000	$273	56
1463 De Anza Dr	0.73mi	2/2.0	1,833 (+14%)	1mo	$238,500	$130	43
1906 Trebuchet Dr	0.63mi	2/2.0	1,410 (-13%)	14mo	$375,000	$266	38

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: -6.8%
• Equity multiple: 0.75×
• Total profit: $-29,108
• Equity at exit: $61,878

10-year hold

• IRR: 2.9%
• Equity multiple: 1.21×
• Total profit: $23,841
• Equity at exit: $35,882

Cash invested: $116,200 (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: 8.0×

Monthly cashflow live

• Estimated rent: $4,310 medium
• Mortgage (P&I): −$2,176
• Tax from tax record: −$332 /mo · $3,985/yr
• Insurance: −$173
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$905
• Net cashflow: $598

Break-even live

Break-even rent $3,553

Max offer price $415,000

Occupancy floor 81%

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: $103,750
• Closing costs: $12,450
• 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	1d	1	0.30mi
344 Velite Dr Borrego Springs, CA	3.0	2.0	2005	$2,500	$1.25	1d	1	0.89mi

Listing history 25 events

1. 2026-06-04
   days on market $415,000 Active 172 DOM
2. 2026-06-02
   days on market $415,000 Active 171 DOM
3. 2026-06-01
   days on market $415,000 Active 170 DOM
4. 2026-05-31
   days on market $415,000 Active 169 DOM
5. 2026-05-31
   days on market $415,000 Active 168 DOM
6. 2026-04-18
   status Active 2285-char remark

   Show marketing remark (2285 chars)

   Perched along the perimeter of De Anza Golf Estates, this inviting home offers dramatic, panoramic views of the surrounding mountains and the tranquility of desert living—with no HOA fees. The home features two bedrooms plus a den with a closet, offering the flexibility to function as a third bedroom, though county tax records list it as a two-bedroom residence. One bathroom is conveniently shared between the second bedroom and the den, while the primary suite includes its own private bathroom. The fenced backyard is designed for relaxation and entertaining, complete with a private pool—perfect for enjoying warm desert days. A two-car garage provides ample parking and storage, and an attached laundry room/workshop sits on the south side of the garage with access from both the garage and backyard. Located in the remarkable desert community of Borrego Springs, the home sits within one of the world’s rare International Dark Sky Communities, where the night skies are famously clear and brilliant. This unique village lies in the low desert of northeastern San Diego County and is completely surrounded by the breathtaking Anza-Borrego Desert State Park, the largest desert state park in the contiguous United States, encompassing more than 660,000 acres of protected wilderness. Borrego Springs is a beloved winter resort destination, welcoming seasonal visitors from colder climates who come to enjoy the sunshine and mild winter temperatures. Despite its peaceful seclusion—miles from the nearest stoplight and free of big-box stores—it’s conveniently located less than two hours from San Diego or Palm Springs. Life here moves at a slower, more relaxed pace, allowing residents to fully appreciate the area’s natural beauty and authentic desert charm. Outdoor enthusiasts enjoy nature walks, hiking, biking, off-roading, wildlife watching, photography, and world-class stargazing under pristine night skies. With a welcoming small-town atmosphere and activities for all ages, Borrego Springs offers a truly special lifestyle in every season. While summers are hot, the rest of the year brings comfortable weather and endless opportunities to explore the surrounding desert landscape—making this a unique place to call home.

7. 2026-03-22
   status Pending 2285-char remark

   Show marketing remark (2285 chars)

   Perched along the perimeter of De Anza Golf Estates, this inviting home offers dramatic, panoramic views of the surrounding mountains and the tranquility of desert living—with no HOA fees. The home features two bedrooms plus a den with a closet, offering the flexibility to function as a third bedroom, though county tax records list it as a two-bedroom residence. One bathroom is conveniently shared between the second bedroom and the den, while the primary suite includes its own private bathroom. The fenced backyard is designed for relaxation and entertaining, complete with a private pool—perfect for enjoying warm desert days. A two-car garage provides ample parking and storage, and an attached laundry room/workshop sits on the south side of the garage with access from both the garage and backyard. Located in the remarkable desert community of Borrego Springs, the home sits within one of the world’s rare International Dark Sky Communities, where the night skies are famously clear and brilliant. This unique village lies in the low desert of northeastern San Diego County and is completely surrounded by the breathtaking Anza-Borrego Desert State Park, the largest desert state park in the contiguous United States, encompassing more than 660,000 acres of protected wilderness. Borrego Springs is a beloved winter resort destination, welcoming seasonal visitors from colder climates who come to enjoy the sunshine and mild winter temperatures. Despite its peaceful seclusion—miles from the nearest stoplight and free of big-box stores—it’s conveniently located less than two hours from San Diego or Palm Springs. Life here moves at a slower, more relaxed pace, allowing residents to fully appreciate the area’s natural beauty and authentic desert charm. Outdoor enthusiasts enjoy nature walks, hiking, biking, off-roading, wildlife watching, photography, and world-class stargazing under pristine night skies. With a welcoming small-town atmosphere and activities for all ages, Borrego Springs offers a truly special lifestyle in every season. While summers are hot, the rest of the year brings comfortable weather and endless opportunities to explore the surrounding desert landscape—making this a unique place to call home.

8. 2026-03-05
   price $415,000 2285-char remark

   Show marketing remark (2285 chars)

   Perched along the perimeter of De Anza Golf Estates, this inviting home offers dramatic, panoramic views of the surrounding mountains and the tranquility of desert living—with no HOA fees. The home features two bedrooms plus a den with a closet, offering the flexibility to function as a third bedroom, though county tax records list it as a two-bedroom residence. One bathroom is conveniently shared between the second bedroom and the den, while the primary suite includes its own private bathroom. The fenced backyard is designed for relaxation and entertaining, complete with a private pool—perfect for enjoying warm desert days. A two-car garage provides ample parking and storage, and an attached laundry room/workshop sits on the south side of the garage with access from both the garage and backyard. Located in the remarkable desert community of Borrego Springs, the home sits within one of the world’s rare International Dark Sky Communities, where the night skies are famously clear and brilliant. This unique village lies in the low desert of northeastern San Diego County and is completely surrounded by the breathtaking Anza-Borrego Desert State Park, the largest desert state park in the contiguous United States, encompassing more than 660,000 acres of protected wilderness. Borrego Springs is a beloved winter resort destination, welcoming seasonal visitors from colder climates who come to enjoy the sunshine and mild winter temperatures. Despite its peaceful seclusion—miles from the nearest stoplight and free of big-box stores—it’s conveniently located less than two hours from San Diego or Palm Springs. Life here moves at a slower, more relaxed pace, allowing residents to fully appreciate the area’s natural beauty and authentic desert charm. Outdoor enthusiasts enjoy nature walks, hiking, biking, off-roading, wildlife watching, photography, and world-class stargazing under pristine night skies. With a welcoming small-town atmosphere and activities for all ages, Borrego Springs offers a truly special lifestyle in every season. While summers are hot, the rest of the year brings comfortable weather and endless opportunities to explore the surrounding desert landscape—making this a unique place to call home.

9. 2025-11-16
   listed $445,000 Active 2285-char remark

   Show marketing remark (2285 chars)

   Perched along the perimeter of De Anza Golf Estates, this inviting home offers dramatic, panoramic views of the surrounding mountains and the tranquility of desert living—with no HOA fees. The home features two bedrooms plus a den with a closet, offering the flexibility to function as a third bedroom, though county tax records list it as a two-bedroom residence. One bathroom is conveniently shared between the second bedroom and the den, while the primary suite includes its own private bathroom. The fenced backyard is designed for relaxation and entertaining, complete with a private pool—perfect for enjoying warm desert days. A two-car garage provides ample parking and storage, and an attached laundry room/workshop sits on the south side of the garage with access from both the garage and backyard. Located in the remarkable desert community of Borrego Springs, the home sits within one of the world’s rare International Dark Sky Communities, where the night skies are famously clear and brilliant. This unique village lies in the low desert of northeastern San Diego County and is completely surrounded by the breathtaking Anza-Borrego Desert State Park, the largest desert state park in the contiguous United States, encompassing more than 660,000 acres of protected wilderness. Borrego Springs is a beloved winter resort destination, welcoming seasonal visitors from colder climates who come to enjoy the sunshine and mild winter temperatures. Despite its peaceful seclusion—miles from the nearest stoplight and free of big-box stores—it’s conveniently located less than two hours from San Diego or Palm Springs. Life here moves at a slower, more relaxed pace, allowing residents to fully appreciate the area’s natural beauty and authentic desert charm. Outdoor enthusiasts enjoy nature walks, hiking, biking, off-roading, wildlife watching, photography, and world-class stargazing under pristine night skies. With a welcoming small-town atmosphere and activities for all ages, Borrego Springs offers a truly special lifestyle in every season. While summers are hot, the rest of the year brings comfortable weather and endless opportunities to explore the surrounding desert landscape—making this a unique place to call home.

10. 2013-05-11
    historical
11. 2013-05-11
    historical
12. 2013-01-15
    listed $290,000 Active
13. 2013-01-14
    listed $290,000
14. 2009-05-07
    historical
15. 2009-05-07
    historical
16. 2007-11-06
    listed $460,000
17. 2007-11-06
    listed $460,000
18. 2007-08-20
    historical
19. 2007-08-20
    historical
20. 2007-03-17
    price $489,000
21. 2007-02-20
    listed $489,000
22. 2007-02-20
    listed $489,000
23. 2002-10-31
    soldstatus $255,000
24. 1999-09-17
    soldstatus $125,000
25. 1996-10-11
    soldstatus $125,000

ⓘ 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: $3,985 · $332/mo
• Projected year-2 tax: $3,985 · $332/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 9 d/yr ≥111°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: $51,721
• − Mortgage interest: −$23,246
• − Property taxes: −$3,985
• − Insurance: −$3,578
• − Repairs & maintenance: −$4,138
• − Management: −$4,138
• − Depreciation: −$12,073
• Taxable income: $563
• Est. tax owed @ 24.0%: −$135
• After-tax cash flow: $7,046/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

+232.0% since first listed

20 events — show timeline

• 2026-04-18 Relisted — SDMLS
• 2026-03-22 Pending — SDMLS
• 2026-03-05 Price Changed $415,000 SDMLS
• 2025-11-16 Listed $445,000 SDMLS
• 2013-05-11 Listing Removed — SDMLS
• 2013-05-11 Listing Removed — CRMLS
• 2013-01-15 Listed $290,000 SDMLS
• 2013-01-14 Listed $290,000 CRMLS
• 2009-05-07 Listing Removed — SDMLS
• 2009-05-07 Listing Removed — CRMLS
• 2007-11-06 Listed $460,000 SDMLS
• 2007-11-06 Listed $460,000 CRMLS
• 2007-08-20 Listing Removed — CRMLS
• 2007-08-20 Listing Removed — SDMLS
• 2007-03-17 Price Changed $489,000 SDMLS
• 2007-02-20 Listed $489,000 CRMLS
• 2007-02-20 Listed $489,000 SDMLS
• 2002-10-31 Sold (Public Records) $255,000 Public Records
• 1999-09-17 Sold (Public Records) $125,000 Public Records
• 1996-10-11 Sold (Public Records) $125,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $3,985 · +2.2% YoY. Source: county tax records.