91 Monte Vis

Thousand Oaks, CA 91320

$309,000C

2 bd · 2.0 ba · 1,008 sqft · Built 1975 · Manufactured · Active · 160 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,674/mo
• Mortgage (P&I): −$1,620
• Tax + insurance: −$515
• HOA: −$0
• Vac / Maint / Mgmt: −$772
• Net cashflow: $767/mo
• Annual: $9,206/yr
• Cap rate: 9.27%
• Cash-on-cash: 10.64%
• DSCR: 1.47
• 1% rule: 1.19%
• Cash to close: $86,520

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $309k.
• At list price, monthly cash flow is $767 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $309k).
• It's been on market 160 days — a 12% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $272k (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; 144 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $21k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $205k; list at $309k implies a 51% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.3% 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 160 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1975 — 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.