195 Tierra Rejada Rd #197 · Simi Valley, CA 93065

$219,000

2 bd · 2.0 ba · 1,200 sqft · Manufactured public records · 139 Days on market

Built 1972 4,626 sqft lot $182/sqft · 21% below area Est $278k · 21% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Delightful 2 bedroom and 2 bath manufactured home in the desirable senior community of Friendly Village in Simi Valley. This home features an open floor concept with an upgraded kitchen, a dining area with built in cabinetry and an indoor laundry area. Some of the enhanced features provided over the years by the owner include pex plumbing, a newer water heater, central HVAC unit, a new GENERAC 2025 back-up generator, front porch with awning, newer electrical panel, RO water system with Alkaline minerals added back, remodeled kitchen with newer sink and granite counters, double pane windows and one of the largest lots in the park. There is ample landscaping and a rear yard ideal for entertaining with a storage shed for those extra items. Friendly Village offers fantastic amenities that include a clubhouse with a kitchen area, pool & spa, multiple artificial grass putting greens, dog run, library, fitness center and ample guest parking. The park is conveniently located near shopping, hiking trails, parks, restaurants, the Reagan Library and the 118 freeway. Come live in Friendly Village, it will feel like you are on vacation every day.

Key facts

• Central hvac unit
• Indoor laundry area
• Pex plumbing

Tags

• OPEN FLOOR CONCEPT
• UPGRADED KITCHEN
• INDOOR LAUNDRY AREA
• PEX PLUMBING
• NEWER WATER HEATER
• CENTRAL HVAC UNIT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $219k.

Deal economics

• At list price, monthly cash flow is $932 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $219k).
• Recommended offer: $193k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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.
• Market conditions: Rents flat; 212 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 31% of the median local income ($121k/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 $2k of loan paydown is wiped out by about $7k 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 + 0.6% rent growth), your $61k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $40k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $103k; list at $219k implies a 113% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 8→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $192,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.41% ✓
• Cap rate: 11.40%
• Cash-on-cash: 18.24%
• DSCR: 1.81
• GRM: 5.9

CMA / ARV

• ARV (median comp): $278,077
• List price: $219,000
• Delta: -21.24%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
195 Tierra Rejada Rd #60	0.22mi	2/2.0	1,200 (0%)	2mo	$300,000	$250	88
195 Tierra Rejada Rd #178	0.10mi	2/2.0	1,152 (-4%)	4mo	$125,000	$109	86
195 Tierra Rejada Rd #171	0.07mi	2/2.0	1,248 (+4%)	11mo	$245,000	$196	81
195 Tierra Rejada Rd #204	0.06mi	2/2.0	1,040 (-13%)	1mo	$161,000	$155	74
195 Tierra Rejada Rd #46	0.20mi	2/2.0	1,120 (-7%)	12mo	$328,800	$294	69
195 Tierra Rejada Rd #71	0.17mi	3/2.0 (+1)	1,080 (-10%)	3mo	$317,000	$294	68
195 Tierra Rejada Rd #1	0.12mi	3/2.0 (+1)	1,336 (+11%)	6mo	$348,000	$260	65
195 Tierra Rejada Rd #52	0.18mi	3/2.0 (+1)	1,344 (+12%)	3mo	$308,000	$229	64

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 · 0.61% rent growth · sell at horizon

5-year hold

• IRR: 7.1%
• Equity multiple: 1.27×
• Total profit: $16,643
• Equity at exit: $32,654

10-year hold

• IRR: 14.3%
• Equity multiple: 2.02×
• Total profit: $62,673
• Equity at exit: $18,935

Cash invested: $61,320 (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: 212
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $3,095 medium
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$650
• Net cashflow: $932

Break-even live

Break-even rent $1,916

Max offer price $219,000

Occupancy floor 65%

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1987 Ridgegate Ln Simi Valley, CA	1.0–3.0	1.0–2.0	867	$2,858	$3.30	1d	16	0.39mi
211 Red Brick Dr #3 Simi Valley, CA	3.0	2.5	1393	$3,800	$2.73	23d	1	0.65mi
1052 Hacienda Dr Unit A Simi Valley, CA	1.0	1.0	1000	$3,000	$3.00	43d	1	1.38mi
241 Country Club Dr Simi Valley, CA	1.0–2.0	1.0–2.0	810	$2,967	$3.66	2d	25	1.41mi

Listing history 25 events

1. 2026-06-18
   days on market $219,000 Active 139 DOM
2. 2026-06-17
   days on market $219,000 Active 138 DOM
3. 2026-06-16
   days on market $219,000 Active 137 DOM
4. 2026-06-15
   days on market $219,000 Active 136 DOM
5. 2026-06-13
   days on market $219,000 Active 134 DOM
6. 2026-06-13
   days on market $219,000 Active 133 DOM
7. 2026-06-10
   days on market $219,000 Active 131 DOM
8. 2026-06-09
   days on market $219,000 Active 130 DOM
9. 2026-06-08
   days on market $219,000 Active 129 DOM
10. 2026-06-07
    days on market $219,000 Active 128 DOM
11. 2026-06-05
    pricedays on market $219,000 Active 125 DOM
12. 2026-06-03
    days on market $229,000 Active 124 DOM
13. 2026-06-02
    days on market $229,000 Active 123 DOM
14. 2026-06-01
    days on market $229,000 Active 122 DOM
15. 2026-05-31
    days on market $229,000 Active 121 DOM
16. 2026-04-24
    price $229,000 1156-char remark

    Show marketing remark (1156 chars)

    Delightful 2 bedroom and 2 bath manufactured home in the desirable senior community of Friendly Village in Simi Valley. This home features an open floor concept with an upgraded kitchen, a dining area with built in cabinetry and an indoor laundry area. Some of the enhanced features provided over the years by the owner include pex plumbing, a newer water heater, central HVAC unit, a new GENERAC 2025 back-up generator, front porch with awning, newer electrical panel, RO water system with Alkaline minerals added back, remodeled kitchen with newer sink and granite counters, double pane windows and one of the largest lots in the park. There is ample landscaping and a rear yard ideal for entertaining with a storage shed for those extra items. Friendly Village offers fantastic amenities that include a clubhouse with a kitchen area, pool & spa, multiple artificial grass putting greens, dog run, library, fitness center and ample guest parking. The park is conveniently located near shopping, hiking trails, parks, restaurants, the Reagan Library and the 118 freeway. Come live in Friendly Village, it will feel like you are on vacation every day.

17. 2026-03-20
    price $245,000 1156-char remark

    Show marketing remark (1156 chars)

    Delightful 2 bedroom and 2 bath manufactured home in the desirable senior community of Friendly Village in Simi Valley. This home features an open floor concept with an upgraded kitchen, a dining area with built in cabinetry and an indoor laundry area. Some of the enhanced features provided over the years by the owner include pex plumbing, a newer water heater, central HVAC unit, a new GENERAC 2025 back-up generator, front porch with awning, newer electrical panel, RO water system with Alkaline minerals added back, remodeled kitchen with newer sink and granite counters, double pane windows and one of the largest lots in the park. There is ample landscaping and a rear yard ideal for entertaining with a storage shed for those extra items. Friendly Village offers fantastic amenities that include a clubhouse with a kitchen area, pool & spa, multiple artificial grass putting greens, dog run, library, fitness center and ample guest parking. The park is conveniently located near shopping, hiking trails, parks, restaurants, the Reagan Library and the 118 freeway. Come live in Friendly Village, it will feel like you are on vacation every day.

18. 2026-01-30
    listed $259,000 Active 1156-char remark

    Show marketing remark (1156 chars)

    Delightful 2 bedroom and 2 bath manufactured home in the desirable senior community of Friendly Village in Simi Valley. This home features an open floor concept with an upgraded kitchen, a dining area with built in cabinetry and an indoor laundry area. Some of the enhanced features provided over the years by the owner include pex plumbing, a newer water heater, central HVAC unit, a new GENERAC 2025 back-up generator, front porch with awning, newer electrical panel, RO water system with Alkaline minerals added back, remodeled kitchen with newer sink and granite counters, double pane windows and one of the largest lots in the park. There is ample landscaping and a rear yard ideal for entertaining with a storage shed for those extra items. Friendly Village offers fantastic amenities that include a clubhouse with a kitchen area, pool & spa, multiple artificial grass putting greens, dog run, library, fitness center and ample guest parking. The park is conveniently located near shopping, hiking trails, parks, restaurants, the Reagan Library and the 118 freeway. Come live in Friendly Village, it will feel like you are on vacation every day.

19. 2018-06-01
    soldstatus $103,000 Closed 392-char remark

    Show marketing remark (392 chars)

    Welcome home to the highly desirable Friendly Village, a Senior Mobile Park. This adorable home features 2 Bedrooms and 2 Baths, a large spacious living room, Dining room with built in hutch and cabinets. This home is located on one of the largest lots in the park (Enough room for a triple wide!!)and has a grassy area and large back patio. Two Sheds are also included! This is a must see.

20. 2018-06-01
    soldstatus $103,000 392-char remark

    Show marketing remark (392 chars)

    Welcome home to the highly desirable Friendly Village, a Senior Mobile Park. This adorable home features 2 Bedrooms and 2 Baths, a large spacious living room, Dining room with built in hutch and cabinets. This home is located on one of the largest lots in the park (Enough room for a triple wide!!)and has a grassy area and large back patio. Two Sheds are also included! This is a must see.

21. 2018-03-28
    status Backup Offers Accepted 392-char remark

    Show marketing remark (392 chars)

    Welcome home to the highly desirable Friendly Village, a Senior Mobile Park. This adorable home features 2 Bedrooms and 2 Baths, a large spacious living room, Dining room with built in hutch and cabinets. This home is located on one of the largest lots in the park (Enough room for a triple wide!!)and has a grassy area and large back patio. Two Sheds are also included! This is a must see.

22. 2018-03-06
    price $115,000 392-char remark

    Show marketing remark (392 chars)

    Welcome home to the highly desirable Friendly Village, a Senior Mobile Park. This adorable home features 2 Bedrooms and 2 Baths, a large spacious living room, Dining room with built in hutch and cabinets. This home is located on one of the largest lots in the park (Enough room for a triple wide!!)and has a grassy area and large back patio. Two Sheds are also included! This is a must see.

23. 2018-02-20
    price $120,000 392-char remark

    Show marketing remark (392 chars)

    Welcome home to the highly desirable Friendly Village, a Senior Mobile Park. This adorable home features 2 Bedrooms and 2 Baths, a large spacious living room, Dining room with built in hutch and cabinets. This home is located on one of the largest lots in the park (Enough room for a triple wide!!)and has a grassy area and large back patio. Two Sheds are also included! This is a must see.

24. 2018-01-29
    price $125,000 392-char remark

    Show marketing remark (392 chars)

    Welcome home to the highly desirable Friendly Village, a Senior Mobile Park. This adorable home features 2 Bedrooms and 2 Baths, a large spacious living room, Dining room with built in hutch and cabinets. This home is located on one of the largest lots in the park (Enough room for a triple wide!!)and has a grassy area and large back patio. Two Sheds are also included! This is a must see.

25. 2018-01-11
    listed $130,000 Active 392-char remark

    Show marketing remark (392 chars)

    Welcome home to the highly desirable Friendly Village, a Senior Mobile Park. This adorable home features 2 Bedrooms and 2 Baths, a large spacious living room, Dining room with built in hutch and cabinets. This home is located on one of the largest lots in the park (Enough room for a triple wide!!)and has a grassy area and large back patio. Two Sheds are also included! This is a must see.

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 8 d/yr ≥97°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,145
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,972
• − Management: −$2,972
• − Depreciation: −$6,371
• Taxable income: $8,184
• Est. tax owed @ 24.0%: −$1,964
• After-tax cash flow: $9,219/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

+76.2% since first listed

10 events — show timeline

• 2026-04-24 Price Changed $229,000 CSMAR
• 2026-03-20 Price Changed $245,000 CSMAR
• 2026-01-30 Listed $259,000 CSMAR
• 2018-06-01 Sold (MLS) $103,000 CSMAR
• 2018-06-01 Sold (MLS) $103,000 CRMLS
• 2018-03-28 Pending — CRMLS
• 2018-03-06 Price Changed $115,000 CRMLS
• 2018-02-20 Price Changed $120,000 CRMLS
• 2018-01-29 Price Changed $125,000 CRMLS
• 2018-01-11 Listed $130,000 CRMLS

Property tax history

+7.9%/yr

Latest (2022): $212 · -0.1% YoY. Source: county tax records.