14 Tahquitz Ct #213

Camarillo, CA 93012

$279,000B

2 bd · 2.0 ba · 1,440 sqft · Built 1980 · Manufactured · Active · 289 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,358/mo
• Mortgage (P&I): −$1,463
• Tax + insurance: −$465
• HOA: −$0
• Vac / Maint / Mgmt: −$705
• Net cashflow: $725/mo
• Annual: $8,696/yr
• Cap rate: 9.41%
• Cash-on-cash: 11.13%
• DSCR: 1.50
• 1% rule: 1.20%
• Cash to close: $78,120

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $279k.
• At list price, monthly cash flow is $725 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $279k).
• It's been on market 289 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $246k (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 $8k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#72 in CA, #2,776 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Pleasant Valley (urban): math 43% / reading 57% proficiency, ranked #119 of 517 in CA (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Los Primeros School of Sciences & Arts (math 50% / reading 64%, grade C+, #276 of 1,571 statewide, top 19%, 556 students, 18% FRL); Las Colinas Middle (math 45% / reading 63%, grade B-, #79 of 498 statewide, top 16%, 735 students, 29% FRL); Adolfo Camarillo High (math 42% / reading 62%, grade D+, #296 of 1,170 statewide, top 27%, 1,912 students, 29% FRL).
• Market conditions: Rents rising (+1.2%/yr); 160 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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.
• 6 sale attempts since 24y ago; this cycle's ask has dropped $46k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 9.4% vs local median 2.4% in Camarillo — 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 289 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.