6480 Katherine #63 · Simi Valley, CA 93063

$393,000

3 bd · 2.0 ba · 1,593 sqft · Manufactured public records · 40 Days on market

Built 2014 1,593 sqft lot $247/sqft · 125% above area

---

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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Schools +4.0/10.0
• Rent growth +3.8/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is located in beautiful east Simi Valley. Features include a clean kitchen, dining room, built-in china cabinet, family room, 2 bedrooms, sun room, porch, and mountain views. Washer, dryer and refrigerator included!

Key facts

• Designer kitchen
• Manufactured homes
• Custom upgrades

Tags

• MANUFACTURED HOMES
• CUSTOM UPGRADES
• SOARING FLAT CEILINGS
• RECESSED LIGHTING
• CROWN MOLDING
• DESIGNER KITCHEN

Property features AI

Finance

• Other: One shed on property; Lot features: 0-1 unit/acre
• Financial info: Rent includes pool
• HOA & community: Land lease (park) with monthly amount; Park name: Santa Susana Woods; Community features include gutters, biking, hiking, foothills; Manager approval required

Exterior

• Parking: 2-car garage; 3-car carport; Covered parking; Concrete driveway; Off-street parking (total 5 parking spaces)
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Public sewer; District/public water; Natural gas connected; Electricity connected; Sewer connected; Water connected; Cable available
• Home design: Single-story mobile home; Mobile home model L-4593PSP (27' x 59'); North-facing; Turnkey condition; Entry at front door
• Construction: Lap siding; Combination foundation; Combination skirt; Year built per public records
• Exterior features: Covered wrap-around deck/porch; Deck; Covered patio; Community pool (fenced); Shed; No fencing; View

Interior

• Kitchen: Formica counters
• Bedrooms: One-level home
• Flooring: Laminated flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (furnace); Central cooling; Energy Star heating and cooling features
• Interior features: Crown moldings; High ceilings (9 feet+); Living room deck attached; Recessed lighting; Open floor plan; Formica counters; Energy Star doors; Double pane, Energy Star windows; Carbon monoxide and smoke detectors; In-ground community spa
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $393k.

Deal economics

• At list price, monthly cash flow is $944 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $393k).
• Recommended offer: $381k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 3.0% in Simi Valley — 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 63/100 on livability (#456 in CA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing B; Watch: amenities F, commute D-, cost of living F.
• Simi Valley Unified (suburban): math 36% / reading 49% proficiency, ranked #170 of 517 in CA (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hollow Hills Elementary (math 54% / reading 68%, grade B, #222 of 1,571 statewide, top 14%, 637 students, 38% FRL); Valley View Middle (math 32% / reading 48%, grade F, #152 of 498 statewide, top 31%, 1,140 students, 39% FRL); Simi Valley High (math 38% / reading 57%, grade D, #384 of 1,170 statewide, top 33%, 1,935 students, 33% FRL).
• Market conditions: Rents rising fast (+5.2%/yr); 157 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,759 units permitted in Ventura County in 2024 (1,196 in 5+ unit buildings).
• This rent runs 39% of the median local income ($125k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Ventura County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $110k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($381k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago 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 $26k; list at $393k implies a 1412% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; major wildfire risk; extreme-heat days projected 8→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $381,210 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.05% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.30%
• DSCR: 1.46
• GRM: 8.0

CMA / ARV

• ARV (median comp): $175,000
• List price: $393,000
• Delta: 124.57%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6480 Katherine Rd #79	0.07mi	3/2.0	1,440 (-10%)	3mo	$170,000	$118	78
6480 Katherine St #109	0.09mi	3/2.0	1,440 (-10%)	6mo	$180,000	$125	75
1550 Rory Ln #266	0.52mi	3/2.0	1,560 (-2%)	13mo	$275,000	$176	62
6480 Katherine Rd #135	0.15mi	2/2.0 (-1)	1,440 (-10%)	13mo	$183,000	$127	61
1550 Rory #197	0.62mi	4/2.0 (+1)	1,500 (-6%)	23mo	$260,000	$173	37

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 · 5.22% rent growth · sell at horizon

5-year hold

• IRR: 1.3%
• Equity multiple: 1.05×
• Total profit: $5,677
• Equity at exit: $58,598

10-year hold

• IRR: 12.8%
• Equity multiple: 2.11×
• Total profit: $121,999
• Equity at exit: $33,979

Cash invested: $110,040 (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 93063

• Rents YoY: 5.2%
• Active inventory: 157
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $4,118 high
• Mortgage (P&I): −$2,061
• Tax from tax record: −$84 /mo · $1,007/yr
• Insurance: −$164
• HOA: −$0
• Vacancy / Maint / Mgmt: −$865
• Net cashflow: $944

Break-even live

Break-even rent $2,922

Max offer price $393,000

Occupancy floor 72%

Sensitivity live

Price	-10% $1,167	-5% $1,056	+0% $944	+5% $833	+10% $722
Rent	-10% $619	-5% $782	+0% $944	+5% $1,107	+10% $1,270
Rate	-1.0pp $1,142	-0.5pp $1,044	base $944	+0.5pp $843	+1.0pp $739

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: $98,250
• Closing costs: $11,790
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
911 Katherine Rd Simi Valley, CA	3.0	2.0	1501	$4,350	$2.90	45d	1	0.19mi
990 Alta Vista Rd Simi Valley, CA	3.0	3.5	1880	$5,200	$2.77	45d	1	0.44mi
6769 Cowboy St Simi Valley, CA	3.0	2.5	1659	$4,300	$2.59	25d	1	0.52mi
6769 Cowboy St Simi Valley, CA	3.0	3.0	1659	$4,300	$2.59	5d	1	0.52mi
5960 Juniper Ct Simi Valley, CA	3.0	2.5	1602	$3,700	$2.31	16d	1	0.65mi
1830 Rory Ln Simi Valley, CA	2.0	2.5	1437	$3,288	$2.29	45d	1	0.65mi
1948 Rory Ln #4 Simi Valley, CA	3.0	2.5	1583	$3,900	$2.46	25d	1	0.67mi
1930 Yosemite Ave Simi Valley, CA	1.0–3.0	1.0–2.0	850	$2,915	$3.43	3d	1	0.78mi
1700 Yosemite Ave Simi Valley, CA	1.0–3.0	1.0–2.0	850	$2,915	$3.43	3d	3	0.80mi
5676 Bloomfield St Simi Valley, CA	4.0	2.0	1380	$8,500	$6.16	0d	1	1.00mi
5664 Bloomfield St Simi Valley, CA	4.0	2.0	1800	$9,998	$5.55	0d	1	1.00mi
2163 Timberlane Ave Simi Valley, CA	4.0	2.0	1826	$4,300	$2.35	23d	1	1.15mi
1768 Grover Cir Simi Valley, CA	3.0	3.0	1982	$3,995	$2.02	25d	1	1.18mi
5727 Cochran St Simi Valley, CA	4.0	3.0	1976	$4,200	$2.13	45d	1	1.39mi
5312 Diane St Simi Valley, CA	4.0	2.0	1812	$4,500	$2.48	45d	1	1.42mi

Listing history 22 events

1. 2026-06-21
   days on market $393,000 Active 40 DOM
2. 2026-06-18
   days on market $393,000 Active 37 DOM
3. 2026-06-17
   days on market $393,000 Active 36 DOM
4. 2026-06-16
   days on market $393,000 Active 35 DOM
5. 2026-06-15
   days on market $393,000 Active 34 DOM
6. 2026-06-13
   days on market $393,000 Active 32 DOM
7. 2026-06-13
   days on market $393,000 Active 31 DOM
8. 2026-06-10
   days on market $393,000 Active 29 DOM
9. 2026-06-09
   days on market $393,000 Active 28 DOM
10. 2026-06-08
    pricedays on market $393,000 Active 27 DOM
11. 2026-06-07
    days on market $399,000 Active 26 DOM
12. 2026-06-05
    days on market $399,000 Active 23 DOM
13. 2026-06-03
    days on market $399,000 Active 22 DOM
14. 2026-06-02
    days on market $399,000 Active 21 DOM
15. 2026-06-01
    days on market $399,000 Active 20 DOM
16. 2026-05-31
    days on market $399,000 Active 19 DOM
17. 2026-05-12
    listed $399,000 Active 2519-char remark
18. 2010-09-24
    soldstatus $26,000 Closed 271-char remark

    Show marketing remark (225 chars)

    This home is located in beautiful east Simi Valley. Features include a clean kitchen, dining room, built-in china cabinet, family room, 2 bedrooms, sun room, porch, and mountain views. Washer, dryer and refrigerator included!

19. 2010-09-24
    soldstatus $26,000 271-char remark

    Show marketing remark (225 chars)

    This home is located in beautiful east Simi Valley. Features include a clean kitchen, dining room, built-in china cabinet, family room, 2 bedrooms, sun room, porch, and mountain views. Washer, dryer and refrigerator included!

20. 2010-08-27
    historical 271-char remark

    Show marketing remark (225 chars)

    This home is located in beautiful east Simi Valley. Features include a clean kitchen, dining room, built-in china cabinet, family room, 2 bedrooms, sun room, porch, and mountain views. Washer, dryer and refrigerator included!

21. 2010-08-10
    listed $34,500 Active 271-char remark

    Show marketing remark (225 chars)

    This home is located in beautiful east Simi Valley. Features include a clean kitchen, dining room, built-in china cabinet, family room, 2 bedrooms, sun room, porch, and mountain views. Washer, dryer and refrigerator included!

22. 2010-07-21
    listed $34,500 271-char remark

    Show marketing remark (225 chars)

    This home is located in beautiful east Simi Valley. Features include a clean kitchen, dining room, built-in china cabinet, family room, 2 bedrooms, sun room, porch, and mountain views. Washer, dryer and refrigerator included!

ⓘ 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: $1,007 · $84/mo
• Projected year-2 tax: $2,987 · $249/mo
• Expected delta: +$1,980/yr (+$165/mo · 196.6%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 5/10 Major 8 d/yr ≥101°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,412
• − Mortgage interest: −$22,014
• − Property taxes: −$1,007
• − Insurance: −$1,965
• − Repairs & maintenance: −$3,953
• − Management: −$3,953
• − Depreciation: −$11,433
• Taxable income: $5,087
• Est. tax owed @ 24.0%: −$1,221
• After-tax cash flow: $10,111/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: Simi Valley Unified
• NCES district ID: 0636840
• Math proficiency: 36% ▼ -7.00%
• Reading proficiency: 49% ▼ -5.00%
• Median HH income: $88,818
• Composite: 40.23/100
• National rank: #3773
• State rank: #170 of 517 in CA

Livability — Simi Valley

• Score: 63/100
• State rank: #456
• US rank: #15494

Category grades

Amenities F Commute D- Cost of living F Crime A+ Employment A+ Housing B Health & safety F User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Simi Valley, CA
• County: Ventura County · 829,955 people
• City population: 128,600
• Metro: Oxnard-Thousand Oaks-Ventura, CA
• Population (ZIP): 55,066
• Household income: $125,098
• Rent vs Own: 26.2% rent · 73.8% own
• Severe rent burden: 1322.0

Population outlook (Ventura County) Hauer SSP2

• Today (2025): 895,754 people
• By 2030: 912,134 · +1.8%
• By 2040: 931,454 · +4.0%
• By 2050: 934,609 · +4.3%
• By 2075: 924,899 · +3.3%
• By 2100: 864,712 · -3.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 55% Hispanic / Latino 25% Two or more races 15% Asian 11% Black 2%
• Hispanic origin (detail): Mexican 17% Cuban 1%
• Common ancestry: Italian 5% Lithuanian 2% Slovak 2%
• Foreign-born: 18% · Canada, China, Vietnam
• Languages at home: 75% English-only · Spanish 14% Other Indo-European 4% Tagalog/Filipino 2%

Political lean MEDSL · Ventura

• 2024 margin: D (+15.1) · D 56.1% · R 41.0% · Other 2.9%
• 2008→2024 swing: +2.8pp toward D · 2008: 12.3pp · 2024: 15.1pp
• All cycles: 2024: D+15.1 2020: D+21.1 2016: D+16.8 2012: D+5.3 2008: D+12.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -910.70%
• Current HPI: 297.7444
• Rent YoY: ▲ 5.22%
• Metro: Oxnard-Thousand Oaks-Ventura, CA
• 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

+1039.1% since first listed

7 events — show timeline

• 2026-06-08 Price Changed $393,000 CRMLS
• 2026-05-12 Listed $399,000 CRMLS
• 2010-09-24 Sold (MLS) $26,000 CSMAR
• 2010-09-24 Sold (MLS) $26,000 CRMLS
• 2010-08-27 Delisted — CRMLS
• 2010-08-10 Listed $34,500 CRMLS
• 2010-07-21 Listed $34,500 CSMAR

Property tax history

-3.0%/yr

Latest (2025): $1,007 · -0.9% YoY. Source: county tax records.