132 Don Felipe Way · Mira Monte, CA 93023

$315,000

2 bd · 2.0 ba · 1,200 sqft · Manufactured · 30 Days on market

Built 1971 Est $300k · 5% over

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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 +23.6/30.0
• DSCR +7.6/10.0
• 1% rule +6.1/10.0
• ARV discount +5.2/15.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Forget everything you think a mobile home in a 55+ community should feel like, this 2 bed, 2 bath home is fun, open, bright, and surprisingly stylish. Set behind the gates of one of Ojai's most loved senior communities, the layout flows effortlessly with the kitchen opening directly into the living and dining spaces, creating the kind of home that feels instantly welcoming the moment you walk in. Updated finishes give it a fresh, easy vibe, while the generous exterior storage means there's actually room for all the extras. Beyond the home itself, residents enjoy resort-style amenities including a pool, clubhouse, and fitness center, bringing a little vacation energy into everyday life. Low-maintenance, full of personality, and close to everything people love about Ojai, this is the kind of place that makes downsizing feel like an upgrade.

Key facts

• Gated community
• Fitness center
• Clubhouse

Tags

• GATED COMMUNITY
• GENEROUS EXTERIOR STORAGE
• RESORT-STYLE AMENITIES
• POOL
• CLUBHOUSE
• FITNESS CENTER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $315k.

Deal economics

• At list price, monthly cash flow is $594 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $315k).
• Recommended offer: $310k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 3.2% in Mira Monte — 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 64/100 on livability (#401 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, crime A-; Watch: amenities F, cost of living F.
• Ojai Unified (suburban): math 27% / reading 43% proficiency, ranked #257 of 517 in CA (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 135 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,759 units permitted in Ventura County in 2024 (1,196 in 5+ unit buildings).
• At $3,507/mo this rent would consume 52% of the median local household income ($81k/yr) (locally 723% 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 $2k of loan paydown is wiped out by about $9k 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

• It's been on market 30 days — a 2% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $310,275 (1.5% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 8.55%
• Cash-on-cash: 8.08%
• DSCR: 1.36
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $300,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 Don Carlos Way #110	0.03mi	3/2.0 (+1)	1,344 (+12%)	1mo	$300,000	$223	73
1273 S Rice Rd #55	0.38mi	3/2.0 (+1)	1,232 (+3%)	3mo	$320,000	$260	70
1273 S Rice Rd #12	0.40mi	3/2.0 (+1)	1,248 (+4%)	2mo	$410,000	$329	68
1273 S Rice Rd #53	0.38mi	2/2.0	1,272 (+6%)	5mo	$425,000	$334	68
40 Don Antonio Way #40	0.16mi	2/2.0	1,040 (-13%)	4mo	$251,750	$242	67
40 Don Antonio Way Way	0.16mi	2/2.0	1,040 (-13%)	4mo	$251,750	$242	67
1273 S Rice Rd #4	0.38mi	2/2.0	1,080 (-10%)	2mo	$273,000	$253	64
950 Woodland Ave #59	0.48mi	2/2.0	1,152 (-4%)	8mo	$302,500	$263	64
1075 Loma Dr #47	0.74mi	2/2.0	1,212 (+1%)	2mo	$249,000	$205	63
1273 S Rice Rd #37	0.45mi	2/—	1,100 (-8%)	6mo	$275,000	$250	60
1225 S Rice Rd #41	0.51mi	3/1.5 (+1)	1,120 (-7%)	5mo	$150,000	$134	54
1075 Loma Dr #28	0.74mi	2/2.0	1,080 (-10%)	8mo	$210,000	$194	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.0%
• Equity multiple: 0.85×
• Total profit: $-13,179
• Equity at exit: $46,968

10-year hold

• IRR: 5.7%
• Equity multiple: 1.42×
• Total profit: $37,427
• Equity at exit: $27,235

Cash invested: $88,200 (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 93023

• Active inventory: 135
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $3,507 high
• Mortgage (P&I): −$1,652
• Tax est. 1.5%: −$394 /mo · $4,725/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$736
• Net cashflow: $594

Break-even live

Break-even rent $2,756

Max offer price $315,000

Occupancy floor 78%

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
750 Highland Dr Ojai, CA	1.0–2.0	1.0	750	$2,995	$3.99	1d	4	0.52mi
718 S La Luna Ave Ojai, CA	2.0	2.0	1250	$3,600	$2.88	43d	1	0.89mi
714 S La Luna Ave Unit A Ojai, CA	1.0	1.0	1000	$2,600	$2.60	19d	1	0.90mi
511 S La Luna Ave Ojai, CA	2.0	1.0	1200	$3,700	$3.08	43d	1	1.11mi
223 S Padre Juan Ave Ojai, CA	3.0	1.0	1050	$3,400	$3.24	15d	1	1.43mi

Listing history 23 events

1. 2026-06-18
   days on market $315,000 Active 30 DOM
2. 2026-06-17
   days on market $315,000 Active 29 DOM
3. 2026-06-16
   days on market $315,000 Active 28 DOM
4. 2026-06-15
   days on market $315,000 Active 27 DOM
5. 2026-06-13
   days on market $315,000 Active 25 DOM
6. 2026-06-13
   days on market $315,000 Active 24 DOM
7. 2026-06-10
   days on market $315,000 Active 22 DOM
8. 2026-06-09
   days on market $315,000 Active 21 DOM
9. 2026-06-08
   days on market $315,000 Active 20 DOM
10. 2026-06-07
    days on market $315,000 Active 19 DOM
11. 2026-06-05
    days on market $315,000 Active 16 DOM
12. 2026-06-03
    days on market $315,000 Active 15 DOM
13. 2026-06-02
    days on market $315,000 Active 14 DOM
14. 2026-06-01
    days on market $315,000 Active 13 DOM
15. 2026-05-31
    days on market $315,000 Active 12 DOM
16. 2026-05-19
    listed $315,000 Active 850-char remark

    Show marketing remark (780 chars)

    Forget everything you think a mobile home in a 55+ community should feel like, this 2 bed, 2 bath home is fun, open, bright, and surprisingly stylish. Set behind the gates of one of Ojai's most loved senior communities, the layout flows effortlessly with the kitchen opening directly into the living and dining spaces, creating the kind of home that feels instantly welcoming the moment you walk in. Updated finishes give it a fresh, easy vibe, while the generous exterior storage means there's actually room for all the extras. Beyond the home itself, residents enjoy resort-style amenities including a pool, clubhouse, and fitness center, bringing a little vacation energy into everyday life. Low-maintenance, full of personality, and close to everything people love about Ojai!

17. 2026-05-19
    listed $315,000 Active 780-char remark

    Show marketing remark (780 chars)

    Forget everything you think a mobile home in a 55+ community should feel like, this 2 bed, 2 bath home is fun, open, bright, and surprisingly stylish. Set behind the gates of one of Ojai's most loved senior communities, the layout flows effortlessly with the kitchen opening directly into the living and dining spaces, creating the kind of home that feels instantly welcoming the moment you walk in. Updated finishes give it a fresh, easy vibe, while the generous exterior storage means there's actually room for all the extras. Beyond the home itself, residents enjoy resort-style amenities including a pool, clubhouse, and fitness center, bringing a little vacation energy into everyday life. Low-maintenance, full of personality, and close to everything people love about Ojai!

18. 2014-12-31
    historical
19. 2014-12-17
    status Active
20. 2014-11-23
    status Backup Offers Accepted
21. 2014-11-03
    price $29,500
22. 2014-08-09
    listed $35,000 Active
23. 2014-08-08
    listed $29,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,085
• − Mortgage interest: −$17,645
• − Property taxes: −$4,725
• − Insurance: −$1,575
• − Repairs & maintenance: −$3,367
• − Management: −$3,367
• − Depreciation: −$9,164
• Taxable income: $2,243
• Est. tax owed @ 24.0%: −$538
• After-tax cash flow: $6,586/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: Ojai Unified
• NCES district ID: 0628270
• Math proficiency: 27% ▼ -5.00%
• Reading proficiency: 43% ▼ -1.00%
• Median HH income: $67,618
• Composite: 31.97/100
• National rank: #5839
• State rank: #257 of 517 in CA

Livability — Mira Monte

• Score: 64/100
• State rank: #401
• US rank: #13701

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mira Monte, CA
• County: Ventura County · 829,955 people
• Metro: Oxnard-Thousand Oaks-Ventura, CA
• Population (ZIP): 21,036
• Household income: $80,927
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 723.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 20% Two or more races 10% Asian 3%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Slovak 4% Portuguese 3% Italian 2%
• Foreign-born: 15% · Canada, South Korea
• Languages at home: 80% English-only · Spanish 15% German/W. Germanic 2% Other Indo-European 1%

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: ▼ -942.31%
• Current HPI: 331.6103
• Rent YoY: —
• 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

+967.8% since first listed

8 events — show timeline

• 2026-05-19 Listed $315,000 SBMLS
• 2026-05-19 Listed $315,000 OVMLS
• 2014-12-31 Listing Removed — CRMLS
• 2014-12-17 Relisted — CRMLS
• 2014-11-23 Pending — CRMLS
• 2014-11-03 Price Changed $29,500 CRMLS
• 2014-08-09 Listed $35,000 CRMLS
• 2014-08-08 Listed $29,500 OVMLS