1150 Ventura Blvd #62

Camarillo, CA 93010

$199,000B-

2 bd · 2.0 ba · 1,440 sqft · Built 1975 · Manufactured · Pending · 153 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,218/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$332
• HOA: −$0
• Vac / Maint / Mgmt: −$676
• Net cashflow: $1,167/mo
• Annual: $14,007/yr
• Cap rate: 13.33%
• Cash-on-cash: 25.14%
• DSCR: 2.12
• 1% rule: 1.62%
• Cash to close: $55,720

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $199k. Condition is rated good.
• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• It's been on market 153 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#72 in CA, #2,776 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Pleasant Valley (urban): math 43% / reading 57% proficiency, ranked #119 of 517 in CA (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+3.4%/yr); 112 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 13.3% vs local median 2.5% in Camarillo — 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 35% of the median local income ($111k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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.