1202 Loma Dr #46 · Mira Monte, CA 93023

$239,000

2 bd · 2.0 ba · 1,080 sqft · Manufactured · 123 Days on market

Built 1968 2,500 sqft lot $221/sqft · 17% below area Est $289k · 17% under ↓ 4% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1202 Loma Dr. #46, a well-maintained 2-bedroom, 2-bathroom home offering comfort, functionality, and stunning surroundings in the heart of Ojai. Updated vinyl flooring and windows create a bright interior, while the spacious primary suite features a walk-in closet and ample storage throughout. Enjoy the screened patio room with pet-friendly screen, perfect for year-round use, and a beautifully landscaped yard with mature fruiting plants including grapes, lemon, apricot, artichokes, and a miniature orange tree. Take in breathtaking mountain views and enjoy the iconic Ojai Pink Moment during select times of year. Additional features include all appliances included, swamp cooler, Aqua-Pure water filtration system, earthquake bracing, three storage sheds, and a location conveniently near guest parking. Ideally situated near the Ojai Bike Trail, Saddle Trails, and an Ojai Trolley stop, offering easy access to outdoor recreation and local amenities.

Key facts

• Screened patio room
• Earthquake bracing
• 2,500 sq ft lot

Tags

• UPDATED VINYL FLOORING
• SCREENED PATIO ROOM
• BEAUTIFULLY LANDSCAPED YARD
• MATURE FRUITING PLANTS
• BREATHTAKING MOUNTAIN VIEWS
• EARTHQUAKE BRACING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $239k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $239k).
• Recommended offer: $210k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.1% 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; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $3,812/mo this rent would consume 57% 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 $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 + 3.0% rent growth), your $67k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $21k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 9→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 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 1968 — 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. 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?
6. 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.
7. 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.
8. 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: 1.60% ✓
• Cap rate: 13.12%
• Cash-on-cash: 24.39%
• DSCR: 2.09
• GRM: 5.2

CMA / ARV

• ARV (median comp): $288,519
• List price: $239,000
• Delta: -17.16%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1202 Loma Dr #54	0.05mi	2/2.0	1,080 (0%)	11mo	$293,000	$271	88
1075 Loma Dr #28	0.14mi	2/2.0	1,080 (0%)	8mo	$210,000	$194	87
1202 Loma Dr #117	0.11mi	2/2.0	1,100 (+2%)	16mo	$269,000	$245	78
1075 Loma Dr #39	0.13mi	2/2.0	1,040 (-4%)	20mo	$233,000	$224	71
1075 Loma Dr #47	0.15mi	2/2.0	1,212 (+12%)	2mo	$249,000	$205	71
1202 Loma Dr #8	0.05mi	2/2.0	1,200 (+11%)	16mo	$153,000	$128	66
1202 Loma Dr #38	0.08mi	2/2.0	1,200 (+11%)	15mo	$160,000	$133	65
40 Don Antonio Way #40	0.74mi	2/2.0	1,040 (-4%)	4mo	$251,750	$242	56
40 Don Antonio Way Way	0.74mi	2/2.0	1,040 (-4%)	4mo	$251,750	$242	56
1075 Loma Dr #58	0.20mi	2/2.0	960 (-11%)	21mo	$215,000	$224	54

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: 17.7%
• Equity multiple: 1.72×
• Total profit: $47,941
• Equity at exit: $35,636

10-year hold

• IRR: 26.2%
• Equity multiple: 3.29×
• Total profit: $153,506
• Equity at exit: $20,664

Cash invested: $66,920 (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: 5.2×

Monthly cashflow live

• Estimated rent: $3,812 high
• Mortgage (P&I): −$1,253
• Tax est. 1.5%: −$299 /mo · $3,585/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$801
• Net cashflow: $1,360

Break-even live

Break-even rent $2,091

Max offer price $239,000

Occupancy floor 59%

Sensitivity live

Price	-10% $1,525	-5% $1,442	+0% $1,360	+5% $1,277	+10% $1,195
Rent	-10% $1,059	-5% $1,209	+0% $1,360	+5% $1,510	+10% $1,661
Rate	-1.0pp $1,480	-0.5pp $1,421	base $1,360	+0.5pp $1,298	+1.0pp $1,235

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
718 S La Luna Ave Ojai, CA	2.0	2.0	1250	$3,600	$2.88	45d	1	0.66mi
714 S La Luna Ave Unit A Ojai, CA	1.0	1.0	1000	$2,600	$2.60	20d	1	0.73mi
511 S La Luna Ave Ojai, CA	2.0	1.0	1200	$3,700	$3.08	45d	1	0.82mi
223 S Padre Juan Ave Ojai, CA	3.0	1.0	1050	$3,400	$3.24	17d	1	0.88mi
750 Highland Dr Ojai, CA	1.0–2.0	1.0	750	$2,995	$3.99	3d	4	1.14mi
181 N Padre Juan Ave Ojai, CA	2.0	1.0	1500	$3,950	$2.63	45d	1	1.15mi
212 N Carrillo Rd Unit H Ojai, CA	2.0	2.5	1389	$3,450	$2.48	20d	1	1.18mi
251 N Encinal Ave Ojai, CA	3.0	2.0	1431	$7,250	$5.07	45d	1	1.26mi

Listing history 20 events

1. 2026-06-21
   days on market $239,000 Active 123 DOM
2. 2026-06-18
   days on market $239,000 Active 120 DOM
3. 2026-06-17
   days on market $239,000 Active 119 DOM
4. 2026-06-16
   days on market $239,000 Active 118 DOM
5. 2026-06-15
   days on market $239,000 Active 117 DOM
6. 2026-06-13
   days on market $239,000 Active 115 DOM
7. 2026-06-13
   pricedays on market $239,000 Active 114 DOM
8. 2026-06-10
   days on market $249,000 Active 112 DOM
9. 2026-06-09
   days on market $249,000 Active 111 DOM
10. 2026-06-08
    days on market $249,000 Active 110 DOM
11. 2026-06-07
    days on market $249,000 Active 109 DOM
12. 2026-06-05
    days on market $249,000 Active 106 DOM
13. 2026-06-03
    days on market $249,000 Active 105 DOM
14. 2026-06-02
    days on market $249,000 Active 104 DOM
15. 2026-06-01
    days on market $249,000 Active 103 DOM
16. 2026-05-31
    days on market $249,000 Active 102 DOM
17. 2026-03-10
    price $249,000 968-char remark

    Show marketing remark (968 chars)

    Welcome to 1202 Loma Dr. #46, a well-maintained 2-bedroom, 2-bathroom home offering comfort, functionality, and stunning surroundings in the heart of Ojai. Updated vinyl flooring and windows create a bright interior, while the spacious primary suite features a walk-in closet and ample storage throughout. Enjoy the screened patio room with pet-friendly screen, perfect for year-round use, and a beautifully landscaped yard with mature fruiting plants including grapes, lemon, apricot, artichokes, and a miniature orange tree. Take in breathtaking mountain views and enjoy the iconic Ojai Pink Moment during select times of year. Additional features include all appliances included, swamp cooler, Aqua-Pure water filtration system, earthquake bracing, three storage sheds, and a location conveniently near guest parking. Ideally situated near the Ojai Bike Trail, Saddle Trails, and an Ojai Trolley stop, offering easy access to outdoor recreation and local amenities.

18. 2026-03-10
    price $249,000 968-char remark

    Show marketing remark (968 chars)

    Welcome to 1202 Loma Dr. #46, a well-maintained 2-bedroom, 2-bathroom home offering comfort, functionality, and stunning surroundings in the heart of Ojai. Updated vinyl flooring and windows create a bright interior, while the spacious primary suite features a walk-in closet and ample storage throughout. Enjoy the screened patio room with pet-friendly screen, perfect for year-round use, and a beautifully landscaped yard with mature fruiting plants including grapes, lemon, apricot, artichokes, and a miniature orange tree. Take in breathtaking mountain views and enjoy the iconic Ojai Pink Moment during select times of year. Additional features include all appliances included, swamp cooler, Aqua-Pure water filtration system, earthquake bracing, three storage sheds, and a location conveniently near guest parking. Ideally situated near the Ojai Bike Trail, Saddle Trails, and an Ojai Trolley stop, offering easy access to outdoor recreation and local amenities.

19. 2026-02-18
    listed $260,000 Active 968-char remark

    Show marketing remark (968 chars)

    Welcome to 1202 Loma Dr. #46, a well-maintained 2-bedroom, 2-bathroom home offering comfort, functionality, and stunning surroundings in the heart of Ojai. Updated vinyl flooring and windows create a bright interior, while the spacious primary suite features a walk-in closet and ample storage throughout. Enjoy the screened patio room with pet-friendly screen, perfect for year-round use, and a beautifully landscaped yard with mature fruiting plants including grapes, lemon, apricot, artichokes, and a miniature orange tree. Take in breathtaking mountain views and enjoy the iconic Ojai Pink Moment during select times of year. Additional features include all appliances included, swamp cooler, Aqua-Pure water filtration system, earthquake bracing, three storage sheds, and a location conveniently near guest parking. Ideally situated near the Ojai Bike Trail, Saddle Trails, and an Ojai Trolley stop, offering easy access to outdoor recreation and local amenities.

20. 2026-02-05
    listed $260,000 Active 968-char remark

    Show marketing remark (968 chars)

    Welcome to 1202 Loma Dr. #46, a well-maintained 2-bedroom, 2-bathroom home offering comfort, functionality, and stunning surroundings in the heart of Ojai. Updated vinyl flooring and windows create a bright interior, while the spacious primary suite features a walk-in closet and ample storage throughout. Enjoy the screened patio room with pet-friendly screen, perfect for year-round use, and a beautifully landscaped yard with mature fruiting plants including grapes, lemon, apricot, artichokes, and a miniature orange tree. Take in breathtaking mountain views and enjoy the iconic Ojai Pink Moment during select times of year. Additional features include all appliances included, swamp cooler, Aqua-Pure water filtration system, earthquake bracing, three storage sheds, and a location conveniently near guest parking. Ideally situated near the Ojai Bike Trail, Saddle Trails, and an Ojai Trolley stop, offering easy access to outdoor recreation and local amenities.

ⓘ 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 6/10 Major
• 🌡 Heat 5/10 Major 9 d/yr ≥96°F today · 21 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: $45,745
• − Mortgage interest: −$13,388
• − Property taxes: −$3,585
• − Insurance: −$1,195
• − Repairs & maintenance: −$3,660
• − Management: −$3,660
• − Depreciation: −$6,953
• Taxable income: $13,306
• Est. tax owed @ 24.0%: −$3,193
• After-tax cash flow: $13,125/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

-4.2% since first listed

4 events — show timeline

• 2026-03-10 Price Changed $249,000 CRMLS
• 2026-03-10 Price Changed $249,000 OVMLS
• 2026-02-18 Listed $260,000 CRMLS
• 2026-02-05 Listed $260,000 OVMLS

Property tax history

+1.9%/yr

Latest (2025): $114 · +5.5% YoY. Source: county tax records.