3700 Olds Rd #86

Oxnard, CA 93033

$260,000C-

2 bd · 2.0 ba · 1,040 sqft · Built 1982 · Manufactured · Active · 156 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,830/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$433
• HOA: −$0
• Vac / Maint / Mgmt: −$594
• Net cashflow: $439/mo
• Annual: $5,268/yr
• Cap rate: 8.32%
• Cash-on-cash: 7.24%
• DSCR: 1.32
• 1% rule: 1.09%
• Cash to close: $72,800

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $260k.
• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• It's been on market 156 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $229k (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 $8k of value loss. Plan a longer hold.
• Location reads 54/100 on livability (#905 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A-, health & safety A-, housing B; Watch: crime F, amenities D-, commute F.
• Oxnard Union High (urban): math 28% / reading 51% proficiency, ranked #220 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mar Vista Elementary (471 students, 80% FRL); Ocean View Junior High (775 students, 70% FRL); Channel Islands High (math 25% / reading 51%, grade F, #571 of 1,170 statewide, top 49%, 2,643 students, 79% FRL).
• Market conditions: Rents flat; 31 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $25k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $218k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 8.3% vs local median 2.5% in Oxnard — 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.
• This rent runs 39% of the median local income ($87k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.