1273 S Rice Rd #20 · Mira Monte, CA 93023

$273,500

2 bd · 2.0 ba · 840 sqft · Manufactured public records · 14 Days on market

Built 1984 2,000 sqft lot Est $194k · 41% 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 +26.2/30.0
• DSCR +8.9/10.0
• 1% rule +7.0/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming and well-maintained residence located on a desirable corner lot in the highly sought-after Golden Oaks 55+ community. Offering approximately 860 square feet of comfortable living space, this thoughtfully designed home features a split floor plan that provides privacy and functionality, along with higher ceilings that create an open and airy feel throughout. The inviting interior showcases vinyl plank flooring, updated windows, and a mini-split system for year-round comfort. The spacious kitchen is enhanced with granite countertops and soft-close cabinetry, while all appliances are included for an easy move-in experience. Ideally situated near the clubhouse, pool and guest parking, this home allows you to enjoy all the wonderful amenities Golden Oaks has to offer. You'll also love being just moments from scenic hiking trails, local shops, and popular restaurants, making it easy to enjoy the best of the Ojai lifestyle. Space rent is $827.39 per month.

Key facts

• Mini-split system
• Updated windows
• Split floor plan

Tags

• CORNER LOT
• SPLIT FLOOR PLAN
• VINYL PLANK FLOORING
• UPDATED WINDOWS
• MINI-SPLIT SYSTEM
• GRANITE COUNTERTOPS

Property features AI

Finance

• Other: Rent includes trash, water, and sewer; Manager approval required for residency; Pets allowed with size/number/breed restrictions (contact manager for details)
• Financial info: Land lease in park (monthly) — amount listed separately
• HOA & community: Senior community; Park name: Golden Oaks; Community features include horse trails, golf course, dog park, hiking, mountainous terrain, fishing, lake, preserve/public land, park

Exterior

• Parking: Detached carport (1 space)
• Utilities: Sewer paid; Sewer available; Water connected; Mutual water company
• Home design: Mobile home remains on site; Mobile dimensions approximately 18' x 48'; Pier jacks foundation; Composition (shingle) roof
• Construction: Pier jacks foundation; Composition roof; Mobile construction (seller source for living area/year built)
• Exterior features: Deck/patio; Community pool (fenced); One shed; Estimated lot size; Sprinklers: none; Has a view

Interior

• Kitchen: Refrigerator; Range/stove with hood; Dishwasher; Gas water heater
• Flooring: Vinyl flooring; Carpet; Wood; Laminate
• Bathrooms: Two full bathrooms; Bathtub and walk-in shower
• Heating & cooling: Ductless heating; Ductless cooling
• Interior features: Double-pane, insulated windows; Remodeled bathroom features
• Laundry & utility: Indoor laundry with gas dryer hookup; Stackable washer/dryer possible

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $274k.

Deal economics

• At list price, monthly cash flow is $700 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $274k).
• Cap rate 9.4% 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,759 units permitted in Ventura County in 2024 (1,196 in 5+ unit buildings).
• At $3,279/mo this rent would consume 49% 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 $8k 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 + 3.0% rent growth), your $77k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 8→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $273,500

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 1.20% ✓
• Cap rate: 9.37%
• Cash-on-cash: 10.98%
• DSCR: 1.49
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $194,040
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1273 S Rice Rd #45	0.09mi	1/1.0 (-1)	800 (-5%)	1mo	$246,800	$309	78
1225 S Rice Rd #26	0.11mi	2/1.0	788 (-6%)	17mo	$135,000	$171	66
1225 S Rice Rd #38	0.09mi	2/1.0	800 (-5%)	22mo	$122,000	$153	66
129 Don Felipe Way	0.43mi	2/2.0	800 (-5%)	20mo	$207,500	$259	55
129 Don Felipe Way #129	0.44mi	2/2.0	800 (-5%)	20mo	$207,500	$259	55
62 Don Antonio Way #62	0.36mi	1/1.0 (-1)	800 (-5%)	22mo	$152,500	$191	48
62 Don Antonio Way	0.36mi	1/1.0 (-1)	800 (-5%)	22mo	$152,500	$191	48
700 W Villanova Rd #22	0.64mi	2/1.0	864 (+3%)	20mo	$200,000	$231	44

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: 0.1%
• Equity multiple: 1.00×
• Total profit: $340
• Equity at exit: $40,780

10-year hold

• IRR: 9.8%
• Equity multiple: 1.76×
• Total profit: $57,938
• Equity at exit: $23,647

Cash invested: $76,580 (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: 7.0×

Monthly cashflow live

• Estimated rent: $3,279 medium
• Mortgage (P&I): −$1,434
• Tax est. 1.5%: −$342 /mo · $4,102/yr
• Insurance: −$114
• HOA: −$0
• Vacancy / Maint / Mgmt: −$689
• Net cashflow: $700

Break-even live

Break-even rent $2,393

Max offer price $273,500

Occupancy floor 74%

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: $68,375
• Closing costs: $8,205
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
714 S La Luna Ave Unit A Ojai, CA	1.0	1.0	1000	$2,600	$2.60	19d	1	0.72mi
750 Highland Dr Ojai, CA	1.0–2.0	1.0	750	$2,995	$3.99	2d	4	0.84mi
223 S Padre Juan Ave Ojai, CA	3.0	1.0	1050	$3,400	$3.24	16d	1	1.35mi

Listing history 12 events

1. 2026-06-18
   days on market $273,500 Active 14 DOM
2. 2026-06-17
   days on market $273,500 Active 13 DOM
3. 2026-06-16
   days on market $273,500 Active 12 DOM
4. 2026-06-15
   days on market $273,500 Active 11 DOM
5. 2026-06-13
   days on market $273,500 Active 9 DOM
6. 2026-06-13
   days on market $273,500 Active 8 DOM
7. 2026-06-10
   days on market $273,500 Active 6 DOM
8. 2026-06-09
   days on market $273,500 Active 5 DOM
9. 2026-06-08
   days on market $273,500 Active 4 DOM
10. 2026-06-07
    days on market $273,500 Active 3 DOM
11. 2026-06-05
    remarks 699-char remark
12. 2026-06-05
    listed $273,500 Active 1 DOM

ⓘ 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 8 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: $39,349
• − Mortgage interest: −$15,320
• − Property taxes: −$4,102
• − Insurance: −$1,368
• − Repairs & maintenance: −$3,148
• − Management: −$3,148
• − Depreciation: −$7,956
• Taxable income: $4,307
• Est. tax owed @ 24.0%: −$1,034
• After-tax cash flow: $7,371/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

+0.0% since first listed

2 events — show timeline

• 2026-06-04 Listed $273,500 CRMLS
• 2026-06-03 Listed $273,500 OVMLS

Property tax history

+6.5%/yr

Latest (2025): $187 · +1.7% YoY. Source: county tax records.