31851 Sea Level Dr · Malibu, CA 90265

$950,000

3 bd · 4.0 ba · 2,906 sqft · SingleFamily public records · 80 Days on market

Built 1974 7,389 sqft lot $327/sqft · 80% below area

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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 +26.2/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Schools +6.2/10.0
• Appreciation +5.3/10.0
• Livability +2.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0

Listing remarks MLS

New Co-Ownership Opportunity: Own one-eighth of this professionally managed, turnkey coastal retreat. This property engages every sense, from its striking modern architecture to the refined textures and finishes within, all complemented by the sound and scent of nearby ocean breezes. Just steps from the beach, the home offers ocean views, an infinity pool, and seamless indoor-outdoor living throughout. The living room features a gas fireplace, beamed ceilings, and sliding glass pocket doors that open wide to frame the coastal views. The gourmet kitchen is equipped with high-end appliances, a generous island with breakfast bar, and direct access to a grilling deck. In the formal dining room, glass doors lead to an inviting outdoor setting complete with pool, spa, and fire pit. The primary suite is a private sanctuary with its own fireplace, walk-in closet, and pocket doors opening to a tranquil garden. The spa-like en suite bath includes a dual-sink vanity and steam shower. Downstairs, enjoy a state-of-the-art home theater with projection screen, along with two guest suites, each with en suite baths, and a versatile office or flex space. Offered fully furnished and professionally designed, this home delivers effortless luxury and turnkey ownership in an exceptional beachside setting.

Key facts

• 7,389 sq ft lot
• 2 parking spots
• Pool

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath single-family listed at $950k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $950k).
• Recommended offer: $893k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 0.7% in Malibu — 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 53/100 on livability (#979 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, schools B; Watch: housing C-, crime F, amenities F.
• Santa Monica-Malibu Unified (urban): math 61% / reading 74% proficiency, ranked #123 of 1,400 in CA (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents falling (-3.4%/yr); 627 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $11,380/mo this rent would consume 69% of the median local household income ($197k/yr) (locally 420% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $12k of equity ($7k loan paydown + $6k appreciation (0.6% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (0.6% appreciation + 0.0% rent growth), your $266k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$61k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($893k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 21y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $893,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 1.20% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.94%
• DSCR: 1.49
• GRM: 7.0

CMA / ARV

• ARV (median comp): $4,807,681
• List price: $950,000
• Delta: -80.24%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31974 Pacific Coast Hwy	0.12mi	4/5.0 (+1)	2,861 (-2%)	22mo	$7,350,000	$2,569	65
31666 Broad Beach Rd	0.25mi	4/5.0 (+1)	2,902 (-0%)	18mo	$8,825,000	$3,041	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.62% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 9.1%
• Equity multiple: 1.44×
• Total profit: $117,240
• Equity at exit: $305,566

10-year hold

• IRR: 11.4%
• Equity multiple: 2.22×
• Total profit: $324,562
• Equity at exit: $391,946

Cash invested: $266,000 (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 90265

• Home prices YoY: 0.1%
• Rents YoY: -3.4%
• Active inventory: 627
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $11,380 medium
• Mortgage (P&I): −$4,982
• Tax est. 1.5%: −$1,188 /mo · $14,250/yr
• Insurance: −$396
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,390
• Net cashflow: $2,359

Break-even live

Break-even rent $8,395

Max offer price $950,000

Occupancy floor 74%

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: $237,500
• Closing costs: $28,500
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31844 Seafield Dr Malibu, CA	3.0	2.5	3425	$16,500	$4.82	43d	1	0.01mi
31833 Sea Level Dr Malibu, CA	3.0	3.0	2200	$30,000	$13.64	18d	1	0.05mi
31952 Pacific Coast Hwy Malibu, CA	4.0	2.5	2413	$45,000	$18.65	43d	1	0.13mi
31648 Broad Beach Rd Malibu, CA	4.0	4.0	2922	$21,500	$7.36	43d	1	0.28mi
31626 Sea Level Dr Malibu, CA	4.0	5.0	3501	$25,000	$7.14	43d	1	0.40mi
31518 Broad Beach Rd Malibu, CA	3.0	3.0	2368	$18,000	$7.60	24d	1	0.47mi
31500 Victoria Point Rd Malibu, CA	4.0	4.5	3284	$35,000	$10.66	43d	1	0.55mi
4244 Avenida de la Encinal Malibu, CA	3.0	3.0	3100	$10,000	$3.23	16d	1	1.10mi
6326 Trancas Canyon Rd Malibu, CA	4.0	5.0	2791	$22,500	$8.06	43d	1	1.48mi

Listing history 50 events

1. 2026-06-18
   days on market $950,000 Active 80 DOM
2. 2026-06-17
   days on market $950,000 Active 79 DOM
3. 2026-06-16
   days on market $950,000 Active 78 DOM
4. 2026-06-15
   price $950,000 Active 77 DOM
5. 2026-06-15
   days on market $999,000 Active 77 DOM
6. 2026-06-13
   days on market $999,000 Active 75 DOM
7. 2026-06-13
   days on market $999,000 Active 74 DOM
8. 2026-06-09
   days on market $999,000 Active 71 DOM
9. 2026-06-08
   days on market $999,000 Active 70 DOM
10. 2026-06-07
    days on market $999,000 Active 69 DOM
11. 2026-06-04
    days on market $999,000 Active 66 DOM
12. 2026-06-03
    days on market $999,000 Active 65 DOM
13. 2026-06-02
    days on market $999,000 Active 64 DOM
14. 2026-06-01
    days on market $999,000 Active 63 DOM
15. 2026-05-31
    days on market $999,000 Active 62 DOM
16. 2026-03-30
    listed $999,000 Active 1303-char remark

    Show marketing remark (1303 chars)

    New Co-Ownership Opportunity: Own one-eighth of this professionally managed, turnkey coastal retreat. This property engages every sense, from its striking modern architecture to the refined textures and finishes within, all complemented by the sound and scent of nearby ocean breezes. Just steps from the beach, the home offers ocean views, an infinity pool, and seamless indoor-outdoor living throughout. The living room features a gas fireplace, beamed ceilings, and sliding glass pocket doors that open wide to frame the coastal views. The gourmet kitchen is equipped with high-end appliances, a generous island with breakfast bar, and direct access to a grilling deck. In the formal dining room, glass doors lead to an inviting outdoor setting complete with pool, spa, and fire pit. The primary suite is a private sanctuary with its own fireplace, walk-in closet, and pocket doors opening to a tranquil garden. The spa-like en suite bath includes a dual-sink vanity and steam shower. Downstairs, enjoy a state-of-the-art home theater with projection screen, along with two guest suites, each with en suite baths, and a versatile office or flex space. Offered fully furnished and professionally designed, this home delivers effortless luxury and turnkey ownership in an exceptional beachside setting.

17. 2024-04-30
    price
18. 2023-11-27
    listed Active
19. 2023-06-20
    status Pending
20. 2023-05-16
    listed Active
21. 2023-01-24
    status Active
22. 2023-01-24
    price
23. 2022-05-26
    listed Active
24. 2022-05-24
    status Pending
25. 2022-05-23
    soldstatus $7,475,000 Sold
26. 2022-05-23
    soldstatus $7,475,000
27. 2022-04-28
    historical Backup Offers Accepted
28. 2022-04-14
    listed $7,500,000
29. 2022-03-23
    listed $7,500,000 Active
30. 2018-06-19
    soldstatus $5,050,000 Closed
31. 2018-06-19
    soldstatus $5,050,000
32. 2018-06-14
    status Pending
33. 2018-06-14
    status Active
34. 2018-06-14
    status Pending
35. 2018-05-22
    status Backup Offers Accepted
36. 2018-03-23
    listed $5,250,000 Active
37. 2016-10-11
    status Backup Offers Accepted
38. 2016-10-11
    listed Active
39. 2016-10-11
    historical Withdrawn
40. 2016-09-08
    status Backup Offers Accepted
41. 2016-09-08
    historical Withdrawn
42. 2016-06-23
    listed Active
43. 2016-03-13
    historical Expired
44. 2015-11-03
    price
45. 2015-07-27
    price
46. 2015-07-20
    price
47. 2015-06-23
    price
48. 2015-06-08
    price
49. 2015-05-22
    price
50. 2015-04-24
    listed Active

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥85°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $136,565
• − Mortgage interest: −$53,215
• − Property taxes: −$14,250
• − Insurance: −$5,548
• − Repairs & maintenance: −$10,925
• − Management: −$10,925
• − Depreciation: −$27,636
• Taxable income: $14,066
• Est. tax owed @ 24.0%: −$3,376
• After-tax cash flow: $24,930/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: Santa Monica-Malibu Unified
• NCES district ID: 0635700
• Math proficiency: 61% ▬ 0.00%
• Reading proficiency: 74% ▬ 0.00%
• Median HH income: $81,489
• Composite: 61.58/100
• National rank: #1535
• State rank: #123 of 1400 in CA

Livability — Malibu

• Score: 53/100
• State rank: #979
• US rank: #24630

Category grades

Amenities F Commute F Cost of living F Crime F Employment A+ Housing C- Health & safety C+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Malibu, CA
• County: Los Angeles County · 9,444,647 people
• City population: 15,918
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 15,918
• Household income: $196,742
• Rent vs Own: 21.5% rent · 78.5% own
• Severe rent burden: 420.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 10% Hispanic / Latino 9% Asian 5% Black 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 8% Scotch-Irish 3% Romanian 3%
• Foreign-born: 16% · Canada, South Korea, China
• Languages at home: 82% English-only · Spanish 6% Other Indo-European 6% French/Haitian/Cajun 2%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.62%
• Current HPI: 498.5117
• Rent YoY: ▼ -3.39%
• Metro: Los Angeles-Long Beach-Anaheim, 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

+640.0% since first listed

50 events — show timeline

• 2026-03-30 Listed $999,000 TheMLS
• 2024-04-30 Price Changed — TheMLS
• 2023-11-27 Listed — TheMLS
• 2023-06-20 Pending — TheMLS
• 2023-05-16 Listed — TheMLS
• 2023-01-24 Relisted — TheMLS
• 2023-01-24 Price Changed — TheMLS
• 2022-05-26 Listed — TheMLS
• 2022-05-24 Pending — TheMLS
• 2022-05-23 Sold (Public Records) $7,475,000 Public Records
• 2022-05-23 Sold (MLS) $7,475,000 TheMLS
• 2022-04-28 Contingent — TheMLS
• 2022-04-14 Listed $7,500,000 SDMLS
• 2022-03-23 Listed $7,500,000 TheMLS
• 2018-06-19 Sold (Public Records) $5,050,000 Public Records
• 2018-06-19 Sold (MLS) $5,050,000 TheMLS
• 2018-06-14 Pending — TheMLS
• 2018-06-14 Relisted — TheMLS
• 2018-06-14 Pending — TheMLS
• 2018-05-22 Pending — TheMLS
• 2018-03-23 Listed $5,250,000 TheMLS
• 2016-10-11 Pending — TheMLS
• 2016-10-11 Listed — TheMLS
• 2016-10-11 Delisted — TheMLS
• 2016-09-08 Pending — TheMLS
• 2016-09-08 Delisted — TheMLS
• 2016-06-23 Listed — TheMLS
• 2016-03-13 Delisted — TheMLS
• 2015-11-03 Price Changed — TheMLS
• 2015-07-27 Price Changed — TheMLS
• 2015-07-20 Price Changed — TheMLS
• 2015-06-23 Price Changed — TheMLS
• 2015-06-08 Price Changed — TheMLS
• 2015-05-22 Price Changed — TheMLS
• 2015-04-24 Listed — TheMLS
• 2013-11-20 Listing Removed — CRMLS
• 2013-08-29 Relisted — CRMLS
• 2013-08-29 Listing Removed — CRMLS
• 2013-08-27 Price Changed $4,899,000 CRMLS
• 2013-08-05 Price Changed $5,495,000 CRMLS
• 2013-08-03 Listed $5,950,000 CRMLS
• 2006-08-25 Sold (MLS) $2,900,000 TheMLS
• 2006-08-23 Sold (Public Records) $2,900,000 Public Records
• 2006-08-15 Delisted — TheMLS
• 2006-04-04 Listed $2,995,000 TheMLS
• 2005-12-10 Delisted — TheMLS
• 2005-11-17 Listed — TheMLS
• 2005-11-09 Delisted — TheMLS
• 2005-02-02 Listed — TheMLS
• 1977-01-03 Sold (Public Records) $135,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $96,958 · +7.9% YoY. Source: county tax records.