805 W Bay · Newport Beach, CA 92661

$3,000,000

4 bd · 3.0 ba · 1,943 sqft · SingleFamily · 47 Days on market

Built 1939 2,640 sqft lot $1544/sqft · 17% below area Est $3630k · 17% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Rent growth +5.0/5.0
• Schools +4.8/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Cash flow +2.4/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks

Rare opportunity in a prime Balboa Peninsula location! This unique corner lot on quiet Bay Avenue features two homes on one parcel—805 W. Bay, a charming 650 sq. ft. (approx) original beach cottage full of vintage coastal character, and 807 W. Bay, a two-story 3 bed, 2 bath home 1,293 sq. ft. (approx) with an attached 2-car garage. Situated on a 2,640 sq. ft. lot offering endless potential to renovate, reimagine, or build new. Both homes have all new windows while the 807 house has a newer roof as well. Cottage received a new tankless hot water heater. Both houses come equipped with washer and dryers. Just steps to the marina, Balboa Pavilion, and directly across from the beach. Firs

Key facts

• 2,640 sq ft lot
• 2 garage spots
• Built 1939

Property features AI

Finance

• Other: Two total units on the parcel; Living area source: appraiser; Parcel number recorded
• HOA & community: Sidewalks

Exterior

• Parking: Attached garage with rear entry; Direct garage access; No driveway; Two parking spaces (garage)
• Utilities: Public sewer; District/public water; Natural gas connected; Electricity connected; Sewer connected
• Home design: House; Two stories; Estimated year built; Entry level: 1
• Construction: Composition roof; No common walls; Property listed as fixer
• Exterior features: Brick patio/porch; Patio; Corner lot; Has a view

Interior

• Kitchen: Galley kitchen; Breakfast counter/bar; Kitchen open to living area; Gas cooktop; Electric range; Microwave; Tankless water heater
• Bedrooms: One bedroom on the main level
• Flooring: Vinyl flooring; Carpet; Laminate flooring
• Bathrooms: One full bathroom; Two three-quarter bathrooms; Bathtub and shower-in-tub options
• Heating & cooling: Forced air heating; Wall heater; Fireplace heating
• Interior features: Balcony; Double-pane windows with blinds and screens; Two levels; Living room fireplace
• Laundry & utility: Inside laundry; Gas and electric dryer hookups; Stackable washer/dryer capable

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $3.00M.

Deal economics

• At list price, monthly cash flow is $-11k ($-126k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.48M (50.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.29M (56.9% below list).
• Recommended offer: $1.29M (56.9% below list) — sets the bar for 1% rule.
• Cap rate 2.1% vs local median 0.6% in Newport Beach — 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 76/100 on livability (#101 in CA, #3,645 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, employment A+, commute A; Watch: health & safety C-, cost of living F.
• Newport-Mesa Unified (urban): math 46% / reading 58% proficiency, ranked #106 of 517 in CA (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Newport Elementary (math 67%, 313 students, 26% FRL); Horace Ensign Intermediate (math 49%, 915 students, 48% FRL); Newport Harbor High (math 44% / reading 66%, grade C, #249 of 1,170 statewide, top 22%, 2,268 students, 44% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: Rents rising fast (+13.6%/yr); 52 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 6,974 units permitted in Orange County in 2024 (3,839 in 5+ unit buildings).

Forward outlook

• In year one you build about $321k of equity ($21k loan paydown + $300k appreciation (10.0% local appreciation)).
• Orange County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$516k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($2.91M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $52k; list at $3.00M implies a 5669% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,293,348 (56.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 57% concession, seller financing, or rate buy-down credit?
3. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.43% ✗
• Cap rate: 2.09%
• Cash-on-cash: -15.02%
• DSCR: 0.33
• GRM: 19.3

CMA / ARV

• ARV (median comp): $3,630,378
• List price: $3,000,000
• Delta: -17.36%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 Lindo Ave	0.20mi	4/3.5	1,905 (-2%)	12mo	$3,400,000	$1,785	75
116 E Oceanfront	0.34mi	3/2.5 (-1)	2,007 (+3%)	1mo	$5,770,000	$2,875	71
616 W Oceanfront	0.16mi	4/3.0	1,800 (-7%)	12mo	$5,900,000	$3,278	70
113 Via Yella	0.33mi	4/3.0	1,866 (-4%)	10mo	$4,100,000	$2,197	69
523 W Balboa Blvd	0.21mi	3/3.0 (-1)	1,815 (-7%)	9mo	$3,550,000	$1,956	67
509 W Balboa Blvd	0.25mi	3/3.5 (-1)	2,039 (+5%)	8mo	$3,320,000	$1,628	66
1340 W Bay Ave	0.47mi	4/2.5	2,053 (+6%)	7mo	$7,675,000	$3,738	61
301 Lindo Ave	0.18mi	4/2.5	1,732 (-11%)	22mo	$3,400,000	$1,963	53
2562 Vista Dr	0.65mi	3/3.0 (-1)	2,032 (+5%)	11mo	$5,695,000	$2,803	48
103 Via San Remo	0.43mi	3/2.0 (-1)	2,215 (+14%)	8mo	$3,650,000	$1,648	41
119 Via San Remo	0.46mi	4/3.5	2,131 (+10%)	24mo	$3,950,000	$1,854	41
205 Via Jucar	0.70mi	4/2.0	2,059 (+6%)	16mo	$3,816,666	$1,854	39

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 14.7%
• Equity multiple: 2.23×
• Total profit: $1,032,727
• Equity at exit: $2,702,638

10-year hold

• IRR: 15.3%
• Equity multiple: 5.45×
• Total profit: $3,737,573
• Equity at exit: $5,828,340

Cash invested: $840,000 (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 92661

• Home prices YoY: 4.5%
• Rents YoY: 13.6%
• Active inventory: 52
• Price-to-rent: 19.3×

Monthly cashflow live

• Estimated rent: $12,933 high
• Mortgage (P&I): −$15,732
• Tax est. 1.5%: −$3,750 /mo · $45,000/yr
• Insurance: −$1,250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,716
• Net cashflow: $-10,515

Break-even live

Break-even rent $26,243

Max offer price $1,478,481

Occupancy floor —

Sensitivity live

Price	-10% $-8,442	-5% $-9,478	+0% $-10,515	+5% $-11,551	+10% $-12,588
Rent	-10% $-11,537	-5% $-11,026	+0% $-10,515	+5% $-10,004	+10% $-9,493
Rate	-1.0pp $-9,004	-0.5pp $-9,752	base $-10,515	+0.5pp $-11,292	+1.0pp $-12,083

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: $750,000
• Closing costs: $90,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
913 W Balboa Blvd Unit C Newport Beach, CA	3.0	3.0	1423	$8,250	$5.80	0d	1	0.08mi
913 W Balboa Blvd Newport Beach, CA	3.0	3.0	1423	$8,500	$5.97	18d	1	0.08mi
920 W Balboa Blvd Newport Beach, CA	4.0	4.0	1421	$15,000	$10.56	14d	1	0.10mi
515 W Balboa Blvd Newport Beach, CA	3.0	3.5	2359	$7,475	$3.17	0d	1	0.24mi
312 Anade Ave Unit B Newport Beach, CA	4.0	2.0	2072	$10,000	$4.83	45d	1	0.33mi
305 Montero St Newport Beach, CA	4.0	3.5	2444	$15,000	$6.14	45d	1	0.34mi
1229 W Balboa Blvd Newport Beach, CA	4.0	4.5	2127	$7,500	$3.53	45d	1	0.36mi
111 Via Ravenna Newport Beach, CA	3.0	3.0	1566	$14,000	$8.94	6d	1	0.48mi
413 E Edgewater Ave Newport Beach, CA	3.0	4.0	2576	$35,000	$13.59	45d	1	0.55mi
500 E Balboa Blvd Newport Beach, CA	3.0	2.0	1600	$11,000	$6.88	45d	1	0.56mi
504 E Balboa Blvd Newport Beach, CA	3.0	2.0	1600	$11,000	$6.88	45d	1	0.57mi
110 Pearl Ave Newport Beach, CA	3.0	3.0	1800	$24,000	$13.33	20d	1	0.74mi
112 Pearl Ave Newport Beach, CA	3.0	3.0	1800	$7,250	$4.03	45d	1	0.74mi
124 Garnet Ave Newport Beach, CA	4.0	2.0	2219	$13,500	$6.08	45d	1	0.74mi
1707 W Balboa Blvd Unit A Newport Beach, CA	3.0	2.5	1700	$12,000	$7.06	9d	1	0.76mi
119 Opal Ave Newport Beach, CA	3.0	2.5	2354	$16,000	$6.80	45d	1	0.78mi
204 Pearl Ave Newport Beach, CA	3.0	3.5	2478	$23,995	$9.68	45d	1	0.79mi
131 Opal Ave Newport Beach, CA	3.0	2.0	1250	$5,895	$4.72	1d	1	0.80mi
200 Topaz Ave Newport Beach, CA	3.0	3.0	2000	$7,850	$3.92	18d	1	0.87mi
135 Turquoise Ave Newport Beach, CA	4.0	2.0	1455	$12,000	$8.25	45d	1	0.87mi
111 19th St Newport Beach, CA	3.0	2.0	1600	$7,500	$4.69	26d	1	0.92mi
312 Ruby Ave Newport Beach, CA	4.0	2.5	2353	$22,850	$9.71	45d	1	0.96mi
314 Ruby Ave Newport Beach, CA	3.0	2.0	1500	$8,000	$5.33	45d	1	0.96mi
223 20th St Newport Beach, CA	3.0	2.0	1500	$6,300	$4.20	45d	1	0.96mi
313 Diamond Ave Newport Beach, CA	3.0	3.0	1850	$8,900	$4.81	6d	1	0.98mi
203 Sapphire Ave Newport Beach, CA	3.0	3.5	2347	$27,000	$11.50	45d	1	1.00mi
300 Coral Ave Newport Beach, CA	3.0	3.0	1650	$24,000	$14.55	45d	1	1.07mi
220 Coral Ave Newport Beach, CA	3.0	3.5	2394	$17,000	$7.10	46d	1	1.07mi
110 22nd St Unit D Newport Beach, CA	3.0	3.5	1980	$20,000	$10.10	45d	1	1.07mi
308 Coral Ave Newport Beach, CA	3.0	2.0	1390	$12,000	$8.63	45d	1	1.08mi
730 Saint James Pl Newport Beach, CA	3.0	3.5	2576	$9,500	$3.69	4d	1	1.11mi
117 Amethyst Ave Newport Beach, CA	3.0	2.0	1766	$11,570	$6.55	45d	1	1.13mi
2600 Newport Blvd #310 Newport Beach, CA	4.0	2.0	1800	$12,800	$7.11	45d	1	1.14mi
1411 E Bay Ave Newport Beach, CA	4.0	4.0	2548	$27,500	$10.79	45d	1	1.21mi
117 Marine Ave Newport Beach, CA	5.0	5.0	2279	$15,000	$6.58	45d	1	1.21mi
3324 Via Lido Newport Beach, CA	3.0	2.0	1540	$10,000	$6.49	45d	1	1.24mi
125 Grand Canal Newport Beach, CA	5.0	4.0	2520	$30,000	$11.90	45d	1	1.25mi
1509 E Bay Ave Newport Beach, CA	4.0	4.5	2582	$45,000	$17.43	45d	1	1.26mi
200 Grand Canal Newport Beach, CA	4.0	3.0	2014	$12,000	$5.96	0d	1	1.29mi
200 Grand Canal Newport Beach, CA	4.0	3.0	2014	$12,000	$5.96	26d	1	1.29mi

Listing history 16 events

1. 2026-06-21
   days on market $3,000,000 Active 47 DOM
2. 2026-06-18
   days on market $3,000,000 Active 44 DOM
3. 2026-06-17
   days on market $3,000,000 Active 43 DOM
4. 2026-06-16
   days on market $3,000,000 Active 42 DOM
5. 2026-06-15
   days on market $3,000,000 Active 41 DOM
6. 2026-06-13
   days on market $3,000,000 Active 39 DOM
7. 2026-06-13
   statusdays on market $3,000,000 Active 38 DOM
8. 2026-06-04
   days on market $3,000,000 Active Under Contract 37 DOM
9. 2026-06-03
   days on market $3,000,000 Active Under Contract 36 DOM
10. 2026-06-02
    days on market $3,000,000 Active Under Contract 35 DOM
11. 2026-06-01
    days on market $3,000,000 Active Under Contract 34 DOM
12. 2026-05-31
    days on market $3,000,000 Active Under Contract 33 DOM
13. 2026-05-11
    historical Active Under Contract 818-char remark
14. 2026-04-29
    listed $3,000,000 Active 818-char remark
15. 2026-04-27
    historical $3,000,000 818-char remark
16. 1971-10-27
    soldstatus $52,000

ⓘ 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 6/10 Major FEMA zone X (shaded) · 92% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥82°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $155,202
• − Mortgage interest: −$168,047
• − Property taxes: −$45,000
• − Insurance: −$15,000
• − Repairs & maintenance: −$12,416
• − Management: −$12,416
• − Depreciation: −$87,273
• Taxable loss: −$184,950
• Est. tax savings @ 24.0%: +$44,388
• After-tax cash flow: $-81,791/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: Newport-Mesa Unified
• NCES district ID: 0627240
• Math proficiency: 46% ▼ -6.00%
• Reading proficiency: 58% ▼ -5.00%
• Median HH income: $83,922
• Composite: 47.64/100
• National rank: #2248
• State rank: #106 of 517 in CA

Livability — Newport Beach

• Score: 76/100
• State rank: #101
• US rank: #3645

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newport Beach, CA
• County: Orange County · 3,096,323 people
• City population: 83,845
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 3,079
• Household income: $209,231
• Rent vs Own: 61.1% rent · 38.9% own
• Severe rent burden: 72.0

Population outlook (Orange County) Hauer SSP2

• Today (2025): 3,477,456 people
• By 2030: 3,613,117 · +3.9%
• By 2040: 3,835,945 · +10.3%
• By 2050: 3,968,736 · +14.1%
• By 2075: 4,097,053 · +17.8%
• By 2100: 3,903,633 · +12.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Two or more races 22% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 2%
• Common ancestry: Italian 8% Danish 5% Slovak 4%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 9% German/W. Germanic 2% Other Asian/Pacific 1%

Political lean MEDSL · Orange

• 2024 margin: Toss-up / Even · D 49.7% · R 47.1% · Other 3.2%
• 2008→2024 swing: +5.2pp toward D · 2008: -2.6pp · 2024: 2.6pp
• All cycles: 2024: D+2.6 2020: D+9.0 2016: D+7.7 2012: R+8.3 2008: R+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 18.17%
• Current HPI: 425.2623
• Rent YoY: ▲ 13.56%
• 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

+5669.2% since first listed

6 events — show timeline

• 2026-06-12 Relisted — CRMLS
• 2026-06-09 Relisted — CRMLS
• 2026-05-11 Contingent — CRMLS
• 2026-04-29 Listed $3,000,000 CRMLS
• 2026-04-27 Coming Soon $3,000,000 CRMLS
• 1971-10-27 Sold (Public Records) $52,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $2,034 · +2.1% YoY. Source: county tax records.