Real Estate Agent · Ventura County · Member since 2024 · 8 posts · 4 votes
✏️Spent this morning running a pencil sheet on every active duplex in Oxnard zips 93030 and 93033 (5 listings, $750K-$929K).
Terms: 25% down, 7.25%, 30-yr, taxes at 1.25% of list price. NOI uses ~5% vacancy, plus insurance, maintenance and reserves.
Result: none clear 1.0x DSCR on in-place rents. Most land around 0.4-0.5x.
The five:
5340 S J: $929K, $5,550/mo, ~0.73x
1026 S C: $788K, ~$3,470/mo (est.), ~0.50x
141 S Hayes: $750K, $3,000/mo, ~0.44x
509 E Date: $788K, $3,148/mo, ~0.44x
639-641 W Kamala: $830K, ~$3,450/mo (est.), ~0.40x
Older duplexes ($750K-$830K) were renting about $1,100-$1,900 a door. The price that actually works at 1.25x on those rents is roughly $330K-$390K.
Best of the five was the remodeled duplex at $929K with ~$2,750/door rents. It would need about $8,100/mo total to hit 1.25x, versus $5,550 today.
A couple of caveats: two of the rents are estimates (marked above), and I used list price for property tax reassessment.
Right now it looks like an appreciation or owner-occupant play, not a cash-flow one. Is anyone finding 2-4s in Ventura County (or similar high-cost coastal markets) that pencil today? What assumptions would you change?
Lender · Washington DC · Member since 2026 · 69 posts · 18 votes
11h
Quote from @Noelle Harrelson:
✏️Spent this morning running a pencil sheet on every active duplex in Oxnard zips 93030 and 93033 (5 listings, $750K-$929K).
Terms: 25% down, 7.25%, 30-yr, taxes at 1.25% of list price. NOI uses ~5% vacancy, plus insurance, maintenance and reserves.
Result: none clear 1.0x DSCR on in-place rents. Most land around 0.4-0.5x.
The five:
5340 S J: $929K, $5,550/mo, ~0.73x
1026 S C: $788K, ~$3,470/mo (est.), ~0.50x
141 S Hayes: $750K, $3,000/mo, ~0.44x
509 E Date: $788K, $3,148/mo, ~0.44x
639-641 W Kamala: $830K, ~$3,450/mo (est.), ~0.40x
Older duplexes ($750K-$830K) were renting about $1,100-$1,900 a door. The price that actually works at 1.25x on those rents is roughly $330K-$390K.
Best of the five was the remodeled duplex at $929K with ~$2,750/door rents. It would need about $8,100/mo total to hit 1.25x, versus $5,550 today.
A couple of caveats: two of the rents are estimates (marked above), and I used list price for property tax reassessment.
Right now it looks like an appreciation or owner-occupant play, not a cash-flow one. Is anyone finding 2-4s in Ventura County (or similar high-cost coastal markets) that pencil today? What assumptions would you change?
Great breakdown. The numbers really highlight how much purchase price and financing structure matter when underwriting rental properties. I'm an investor and real estate financing partner, and I’m always interested in connecting with people who take a numbers driven approach to acquisitions. Curious, are you actively looking for opportunities in Oxnard, or are you primarily analyzing the market right now?
Real Estate Agent · Ventura County · Member since 2024 · 8 posts · 4 votes
3h
Thanks, LaTarence! I'm a realtor in Oxnard, building my practice around serving investors, so I'm ready for the right deal when it comes along.
Since you're on the financing side: what DSCR minimums and rates are you seeing on 2-4 units in California right now? I used 7.25% and 25% down. Happy to compare notes.