161 La Plaza Way #161 · Mira Monte, CA 93023

$279,000

2 bd · 2.0 ba · 1,464 sqft · Manufactured · 161 Days on market

Built 1970 Fair condition 2,000 sqft lot $191/sqft · 9% below area Est $305k · 9% 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 +28.5/30.0
• ARV discount +11.4/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Peace, tranquility and beautiful mountain views define this lovely home! Perfectly situated at the end of a quiet cul-de-sac and just steps from the community clubhouse, pool and spa, this well-kept 2 bedroom, 2 bath home is waiting to welcome you. Enjoy expansive mountain views from the comfort of your living room equipped with a cozy electric fireplace. The kitchen has ample cabinet space, an island and built in breakfast counter. The roomy floorplan also features a family room, laundry room and primary bedroom with en suite bathroom. Enjoy the great outdoors on your private covered porch and there is room in the yard for those who enjoy a bit of gardening. The carport is large enough to fit 3 cars and the park offers RV parking. Located near shopping and restaurants, and adjacent to the Ojai trolley stop and the Ojai bike/walking trail. Home is in the desirable Ojai Villas gated 55+ community and offers a low monthly space rent of $869. Affordable senior living at its finest!

Key facts

• Quiet cul-de-sac
• Community clubhouse
• Ample cabinet space

Tags

• MOUNTAIN VIEWS
• QUIET CUL-DE-SAC
• COMMUNITY CLUBHOUSE
• PRIVATE COVERED PORCH
• AMPLE CABINET SPACE
• BUILT IN BREAKFAST COUNTER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $279k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $909 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $279k).
• Recommended offer: $246k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $3,591/mo this rent would consume 53% 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 $78k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago 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.
• Current owner paid $225k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $245,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.29% ✓
• Cap rate: 10.20%
• Cash-on-cash: 13.96%
• DSCR: 1.62
• GRM: 6.5

CMA / ARV

• ARV (median comp): $305,415
• List price: $279,000
• Delta: -8.65%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
56 Don Antonio Way #56	0.08mi	2/2.0	1,440 (-2%)	1mo	$270,000	$188	92
16 Don Antonio Way #16	0.08mi	3/2.0 (+1)	1,521 (+4%)	6mo	$405,000	$266	80
16 Don Antonio Way	0.08mi	3/2.0 (+1)	1,521 (+4%)	6mo	$405,000	$266	80
110 Don Carlos Way #110	0.10mi	3/2.0 (+1)	1,344 (-8%)	1mo	$300,000	$223	76
1273 S Rice Rd #72	0.38mi	3/2.0 (+1)	1,498 (+2%)	7mo	$450,000	$300	68
11 Don Antonio Way	0.06mi	2/2.0	1,248 (-15%)	9mo	$310,000	$248	65
65 Don Antonio Way #65	0.08mi	3/2.0 (+1)	1,300 (-11%)	9mo	$350,000	$269	65
11 Don Antonio Way #11	0.10mi	2/2.0	1,248 (-15%)	9mo	$310,000	$248	63
950 Woodland Ave #115	0.53mi	3/2.0 (+1)	1,488 (+2%)	6mo	$325,000	$218	62
950 Woodland Ave #123	0.54mi	3/2.0 (+1)	1,450 (-1%)	8mo	$325,000	$224	62
1273 S Rice Rd #53	0.30mi	2/2.0	1,272 (-13%)	5mo	$425,000	$334	60
1273 S Rice Rd #12	0.32mi	3/2.0 (+1)	1,248 (-15%)	2mo	$410,000	$329	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: 4.2%
• Equity multiple: 1.16×
• Total profit: $12,742
• Equity at exit: $41,600

10-year hold

• IRR: 13.7%
• Equity multiple: 2.10×
• Total profit: $85,868
• Equity at exit: $24,123

Cash invested: $78,120 (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: 6.5×

Monthly cashflow live

• Estimated rent: $3,591 high
• Mortgage (P&I): −$1,463
• Tax est. 1.5%: −$349 /mo · $4,185/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$754
• Net cashflow: $909

Break-even live

Break-even rent $2,441

Max offer price $279,000

Occupancy floor 70%

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	20d	1	0.84mi
718 S La Luna Ave Ojai, CA	2.0	2.0	1250	$3,600	$2.88	44d	1	0.84mi
511 S La Luna Ave Ojai, CA	2.0	1.0	1200	$3,700	$3.08	44d	1	1.05mi
218 Barbara St Oak View, CA	3.0	2.0	1786	$3,500	$1.96	16d	1	1.14mi
223 S Padre Juan Ave Ojai, CA	3.0	1.0	1050	$3,400	$3.24	16d	1	1.39mi

Listing history 21 events

1. 2026-06-18
   days on market $279,000 Active 161 DOM
2. 2026-06-17
   days on market $279,000 Active 160 DOM
3. 2026-06-16
   days on market $279,000 Active 159 DOM
4. 2026-06-15
   days on market $279,000 Active 158 DOM
5. 2026-06-13
   days on market $279,000 Active 156 DOM
6. 2026-06-13
   days on market $279,000 Active 155 DOM
7. 2026-06-10
   days on market $279,000 Active 153 DOM
8. 2026-06-09
   days on market $279,000 Active 152 DOM
9. 2026-06-08
   days on market $279,000 Active 151 DOM
10. 2026-06-07
    days on market $279,000 Active 150 DOM
11. 2026-06-05
    days on market $279,000 Active 147 DOM
12. 2026-06-03
    days on market $279,000 Active 146 DOM
13. 2026-06-02
    days on market $279,000 Active 145 DOM
14. 2026-06-01
    days on market $279,000 Active 144 DOM
15. 2026-05-31
    days on market $279,000 Active 143 DOM
16. 2026-03-16
    price $279,000 994-char remark

    Show marketing remark (994 chars)

    Peace, tranquility and beautiful mountain views define this lovely home! Perfectly situated at the end of a quiet cul-de-sac and just steps from the community clubhouse, pool and spa, this well-kept 2 bedroom, 2 bath home is waiting to welcome you. Enjoy expansive mountain views from the comfort of your living room equipped with a cozy electric fireplace. The kitchen has ample cabinet space, an island and built in breakfast counter. The roomy floorplan also features a family room, laundry room and primary bedroom with en suite bathroom. Enjoy the great outdoors on your private covered porch and there is room in the yard for those who enjoy a bit of gardening. The carport is large enough to fit 3 cars and the park offers RV parking. Located near shopping and restaurants, and adjacent to the Ojai trolley stop and the Ojai bike/walking trail. Home is in the desirable Ojai Villas gated 55+ community and offers a low monthly space rent of $869. Affordable senior living at its finest!

17. 2026-01-08
    listed $289,000 Active 994-char remark

    Show marketing remark (994 chars)

    Peace, tranquility and beautiful mountain views define this lovely home! Perfectly situated at the end of a quiet cul-de-sac and just steps from the community clubhouse, pool and spa, this well-kept 2 bedroom, 2 bath home is waiting to welcome you. Enjoy expansive mountain views from the comfort of your living room equipped with a cozy electric fireplace. The kitchen has ample cabinet space, an island and built in breakfast counter. The roomy floorplan also features a family room, laundry room and primary bedroom with en suite bathroom. Enjoy the great outdoors on your private covered porch and there is room in the yard for those who enjoy a bit of gardening. The carport is large enough to fit 3 cars and the park offers RV parking. Located near shopping and restaurants, and adjacent to the Ojai trolley stop and the Ojai bike/walking trail. Home is in the desirable Ojai Villas gated 55+ community and offers a low monthly space rent of $869. Affordable senior living at its finest!

18. 2023-09-11
    soldstatus $225,000 Closed Sale 690-char remark

    Show marketing remark (690 chars)

    Wonderful mountain views and a cul de sac location define this special property. Located in one of Ojai's premier senior parks, this home offers a sunny open floor plan and plenty of windows from which to enjoy the shadowed mountains and sunset views. Enjoy the numerous activities and park amenities just steps away. This home has been well maintained throughout the years and the seller has made it sparkle for the new owner. Upgrades include, fresh paint, copper plumbing, two earthquake bracing systems, and double siding for better insulation. A new washer and dryer and existing refrigerator are included. Reasonable space rent makes this home truly affordable. Come see for yourself!

19. 2023-09-08
    status Pending Sale 690-char remark

    Show marketing remark (690 chars)

    Wonderful mountain views and a cul de sac location define this special property. Located in one of Ojai's premier senior parks, this home offers a sunny open floor plan and plenty of windows from which to enjoy the shadowed mountains and sunset views. Enjoy the numerous activities and park amenities just steps away. This home has been well maintained throughout the years and the seller has made it sparkle for the new owner. Upgrades include, fresh paint, copper plumbing, two earthquake bracing systems, and double siding for better insulation. A new washer and dryer and existing refrigerator are included. Reasonable space rent makes this home truly affordable. Come see for yourself!

20. 2023-08-23
    historical Active Under Contract 690-char remark

    Show marketing remark (690 chars)

    Wonderful mountain views and a cul de sac location define this special property. Located in one of Ojai's premier senior parks, this home offers a sunny open floor plan and plenty of windows from which to enjoy the shadowed mountains and sunset views. Enjoy the numerous activities and park amenities just steps away. This home has been well maintained throughout the years and the seller has made it sparkle for the new owner. Upgrades include, fresh paint, copper plumbing, two earthquake bracing systems, and double siding for better insulation. A new washer and dryer and existing refrigerator are included. Reasonable space rent makes this home truly affordable. Come see for yourself!

21. 2023-08-08
    listed $225,000 Active 690-char remark

    Show marketing remark (690 chars)

    Wonderful mountain views and a cul de sac location define this special property. Located in one of Ojai's premier senior parks, this home offers a sunny open floor plan and plenty of windows from which to enjoy the shadowed mountains and sunset views. Enjoy the numerous activities and park amenities just steps away. This home has been well maintained throughout the years and the seller has made it sparkle for the new owner. Upgrades include, fresh paint, copper plumbing, two earthquake bracing systems, and double siding for better insulation. A new washer and dryer and existing refrigerator are included. Reasonable space rent makes this home truly affordable. Come see for yourself!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $43,096
• − Mortgage interest: −$15,628
• − Property taxes: −$4,185
• − Insurance: −$1,395
• − Repairs & maintenance: −$3,448
• − Management: −$3,448
• − Depreciation: −$8,116
• Taxable income: $6,876
• Est. tax owed @ 24.0%: −$1,650
• After-tax cash flow: $9,258/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the kitchen, bathroom, flooring, and interior walls.

Repairs flagged

• Moderate kitchen cabinets — dated and need updating
• Major bathroom fixtures — dated and need replacement
• Minor exterior siding — slight wear
• Major flooring — carpeted areas need replacement
• Major interior walls — dated wallpaper and paint need updating

Value-add opportunities

• Resale paint interior walls — fresh paint enhances curb appeal
• Resale replace kitchen cabinets — new cabinets improve functionality and aesthetics
• Resale replace bathroom fixtures — new fixtures enhance functionality and aesthetics
• Resale replace flooring — new flooring improves functionality and aesthetics
• Both landscape and improve curb appeal — enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and need updating	Moderate	$3,000–15,000
bathroom fixtures · dated and need replacement	Major	$15,000–50,000
exterior siding · slight wear	Minor	$500–3,000
flooring · carpeted areas need replacement	Major	$15,000–50,000
interior walls · dated wallpaper and paint need updating	Major	$15,000–50,000
Total estimated repair cost · 5 items		$48,500–168,000

Value-add ROI direction

• Resale paint interior walls — fresh paint enhances curb appeal ↑
• Resale replace kitchen cabinets — new cabinets improve functionality and aesthetics ↑
• Resale replace bathroom fixtures — new fixtures enhance functionality and aesthetics ↑
• Resale replace flooring — new flooring improves functionality and aesthetics ↑
• Both landscape and improve curb appeal — enhances curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+24.0% since first listed

6 events — show timeline

• 2026-03-16 Price Changed $279,000 CRMLS
• 2026-01-08 Listed $289,000 CRMLS
• 2023-09-11 Sold (MLS) $225,000 CRMLS
• 2023-09-08 Pending — CRMLS
• 2023-08-23 Contingent — CRMLS
• 2023-08-08 Listed $225,000 CRMLS