2646 Prather · Simi Valley, CA 93065

$1,339,875

16 bd · 12.8 ba · 3,871 sqft · MultiFamily public records · 3 Days on market

Built 1971 0.26 ac lot

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Why this score? — see what drove the D+ 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 +18.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• Schools +4.0/10.0
• 1% rule +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Rare Simi Valley 4-plex --the real deal built as a 4plex community - not a bunch of garage & room conversions/add-ons :). Still has upside potential. The 3 bedroom unit & the 1 bedromm unit have been super updated within past 2 years. Quartz counters, new windows, LVT floors etc. But the 2 two bedroom units remain original with low rents. More recent exterior paint & roof too. 4 car covered parking + spaces. Back 3 bdrm unit has it's own big patio & yard. The front unit 1 bdrm & 2 bdrm have private patios PLUS all units access a big central patio & BBQ area. Laundry Room too. Great location, can't be matched in Simi Valley today.

Key facts

• Quartz counters
• Lvt floors
• Private patios

Tags

• QUARTZ COUNTERS
• NEW WINDOWS
• LVT FLOORS
• RECENT EXTERIOR PAINT
• BIG PATIO
• PRIVATE PATIOS

Property features AI

Finance

• Other: Property contains four total units; Multiple separate gas and electric meters (5 gas, 5 electric reported); Number of leased units reported as 4; Building area reported as 3,871 (source data)
• Financial info: Gross scheduled income of $85,200; Gross income $85,200 and gross spendable income $57,200; Net operating income $57,200; Total actual rent currently $7,100 (combined); Operating expenses listed (example items include electric, water/sewer, insurance, maintenance, trash, gardener and fuel) totaling $37,620; Tenant pays gas, phone, sewer, cable TV and electricity
• HOA & community: Neighborhood features include gutters, curbs, sidewalks and suburban setting

Exterior

• Parking: Assigned paved parking spaces; Detached carports (carport spaces); Uncovered parking spaces (several); Total of 8 parking spaces
• Security: Street lighting in the neighborhood
• Utilities: Electricity on property; Natural gas connected; Water connected (district/public water); Sewer connected and sewer paid
• Home design: Attached multifamily property; 2-story building; Requires cosmetic repairs
• Construction: Stucco exterior with drywall interior walls; Composition roof; Concrete slab foundation; Year built sourced from assessor
• Exterior features: Wood fencing and fenced yard; No pool; Level lot with street frontage, rectangular and flat; Front yard

Interior

• Kitchen: Ranges present in all four units
• Bedrooms: Unit mix includes 3-bed, 2-bed and 1-bed units (various units across the property)
• Flooring: Vinyl flooring; Carpet
• Bathrooms: Combination of 1- and 2-bath units across the property
• Heating & cooling: Wall heaters; Wall/window air conditioning units (multiple wall AC units)
• Interior features: Two levels; Entry level is on the first floor
• Laundry & utility: Individual laundry rooms (laundry in a separate room/area); Separate gas and electric meters (multiple separate meters)

What this means for you Summary

Snapshot

• This is a 1×3bd/1.5ba + 1×1bd/1.5ba + 2×2bd/1.5ba units multifamily listed at $1.34M.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $307/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.19M (11.1% below list).
• Recommended offer: $1.19M (11.1% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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); Hillside Middle (math 32% / reading 52%, grade D-, #144 of 498 statewide, top 29%, 897 students, 40% FRL); Royal High (math 17% / reading 42%, grade F, #750 of 1,170 statewide, top 66%, 1,973 students, 41% FRL) — zoned schools average 40% FRL vs 25% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 210 active listings in the ZIP; high-income renter base; 1,759 units permitted in Ventura County in 2024 (1,196 in 5+ unit buildings).
• At $11,916/mo this rent would consume 119% of the median local household income ($121k/yr) (locally 2456% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $9k of loan paydown is wiped out by about $40k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $279k; list at $1.34M implies a 380% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $1,191,600 (11.1% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 7.39%
• Cash-on-cash: 3.92%
• DSCR: 1.17
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.61% rent growth · sell at horizon

5-year hold

• IRR: -12.6%
• Equity multiple: 0.55×
• Total profit: $-167,441
• Equity at exit: $199,780

10-year hold

• IRR: -7.3%
• Equity multiple: 0.58×
• Total profit: $-156,605
• Equity at exit: $115,848

Cash invested: $375,165 (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 93065

• Rents YoY: 0.6%
• Active inventory: 210
• Price-to-rent: 32.2×

Monthly cashflow live

• Estimated rent: $11,916 high
• Mortgage (P&I): −$7,026
• Tax from tax record: −$602 /mo · $7,224/yr
• Insurance: −$558
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,502
• Net cashflow: $1,227

Break-even live

Break-even rent $10,363

Max offer price $1,339,875

Occupancy floor 85%

Sensitivity live

Price	-10% $1,985	-5% $1,606	+0% $1,227	+5% $848	+10% $468
Rent	-10% $286	-5% $756	+0% $1,227	+5% $1,698	+10% $2,168
Rate	-1.0pp $1,902	-0.5pp $1,568	base $1,227	+0.5pp $880	+1.0pp $527

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1.5	$3,462
1× unit	1	1.5	$2,566
▸ 2× units	2	1.5	$5,886
Total (4 units)			$11,916

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: $334,969
• Closing costs: $40,196
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-21
   days on market $1,339,875 Active 3 DOM
2. 2026-06-19
   remarks 650-char remark
3. 2026-06-19
   listed $1,339,875 Active 1 DOM

ⓘ 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: $7,224 · $602/mo
• Projected year-2 tax: $10,183 · $849/mo
• Expected delta: +$2,959/yr (+$247/mo · 41.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 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: $142,992
• − Mortgage interest: −$75,054
• − Property taxes: −$7,224
• − Insurance: −$6,699
• − Repairs & maintenance: −$11,439
• − Management: −$11,439
• − Depreciation: −$38,978
• Taxable loss: −$7,842
• Est. tax savings @ 24.0%: +$1,882
• After-tax cash flow: $16,605/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): 73,534
• Household income: $120,519
• Rent vs Own: 27.0% rent · 73.0% own
• Severe rent burden: 2456.0

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 0.59)
• Race & ethnicity: White 57% Hispanic / Latino 28% Two or more races 14% Asian 9% Black 1%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Italian 5% Lithuanian 2% Romanian 2%
• Foreign-born: 18% · Canada, China, Vietnam
• Languages at home: 74% English-only · Spanish 17% Other Indo-European 3% Other Asian/Pacific 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: ▼ -910.81%
• Current HPI: 285.0925
• Rent YoY: ▲ 0.61%
• 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

+382.0% since first listed

7 events — show timeline

• 2026-06-18 Listed $1,339,875 CRMLS
• 1996-12-31 Sold (Public Records) $279,000 Public Records
• 1990-05-18 Sold (Public Records) $378,500 Public Records
• 1988-09-30 Sold (Public Records) $164,000 Public Records
• 1988-09-30 Sold (Public Records) $164,000 Public Records
• 1986-05-02 Sold (Public Records) $278,000 Public Records
• 1986-05-02 Sold (Public Records) $278,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $7,224 · +2.8% YoY. Source: county tax records.