72 Suzanne Ct #72

Thousand Oaks, CA 91320

$285,000C+

2 bd · 2.0 ba · 1,325 sqft · Built 1970 · Manufactured · Active · 146 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,557/mo
• Mortgage (P&I): −$1,495
• Tax + insurance: −$475
• HOA: −$0
• Vac / Maint / Mgmt: −$747
• Net cashflow: $841/mo
• Annual: $10,087/yr
• Cap rate: 9.83%
• Cash-on-cash: 12.64%
• DSCR: 1.56
• 1% rule: 1.25%
• Cash to close: $79,800

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $285k.
• At list price, monthly cash flow is $841 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $285k).
• It's been on market 146 days — a 12% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $251k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#226 in CA) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: cost of living F, health & safety F.
• Conejo Valley Unified (urban): math 57% / reading 72% proficiency, ranked #59 of 517 in CA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents flat; 145 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,759 units permitted in Ventura County in 2024 (1,196 in 5+ unit buildings).
• Ventura County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.8% vs local median 2.8% in Thousand Oaks — 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.

Questions for listing agent

• It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.
• 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.