331 Walnut St · Newport Beach, CA 92663

$2,950,000

3 bd · 4.5 ba · 2,546 sqft · SingleFamily public records · 16 Days on market

Built 1962 2,480 sqft lot $1159/sqft · 20% below area Est $3680k · 20% under $55/mo HOA · 1% of rent

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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
• Schools +4.8/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Cash flow +1.8/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks

Newport Shores - Positioned in West Newport Beach, this five-bedroom, five-and-one-half-bath residence offers a rare opportunity to live the Southern California coastal lifestyle steps from the sand. Thoughtfully updated throughout, the home delivers generous living spaces, refined finishes, and a versatile floor plan designed for both everyday living and effortless entertaining. At its center, a remodeled kitchen features quartz countertops, an expansive island, custom cabinetry, and a professional six-burner gas range. The kitchen opens directly into the family room and dining area beneath soaring ceilings appointed with crown molding, wainscoting, and skylights that invite coastal light

Key facts

• Expansive island
• Quartz countertops
• Soaking tub

Tags

• REMODELED KITCHEN
• QUARTZ COUNTERTOPS
• EXPANSIVE ISLAND
• MAIN-LEVEL BEDROOM SUITE
• PRIMARY SUITE
• SOAKING TUB

Property features AI

Finance

• Other: Community features: curbs, sidewalks, street lighting, biking, fishing, watersports access
• HOA & community: Part of an association with monthly fee ($55/month); Association amenities include pool, spa, tennis, pickleball, sport court, playground, barbecue/outdoor cooking, picnic areas, and a multipurpose/recreational room, plus onsite property management

Exterior

• Parking: Attached garage with direct access; Garage configured with a single door; Two garage/parking spaces
• Security: Smoke and carbon monoxide detectors
• Utilities: Public/District water; Public sewer (sewer connected); Electricity connected (standard); Natural gas connected; Cable available; Telephone in street
• Home design: House; Two stories; Entry at ground level; No accessory dwelling unit (ADU); No common walls (detached)
• Construction: Stucco exterior with drywall interior walls; Composition roof; Concrete slab foundation; Year built per assessor
• Exterior features: Lighting; Terrace, lanai, rooftop and deck patios; Patio present; In-ground fenced pool managed by association; Wood fencing; Zero lot line and level/flat lot; Level with street; Views and property located across the road from lake/ocean; Turnkey/updated condition

Interior

• Kitchen: Kitchen open to family room; Kitchen island; Quartz and stone counters; Pots & pan drawers; Self-closing cabinet doors and drawers; Breakfast counter/bar; Family kitchen layout
• Bedrooms: Primary suite; Main floor bedroom
• Flooring: Carpet; Stone flooring
• Bathrooms: Five full bathrooms; One half bathroom; Separate tub and walk-in shower in primary bath; Soaking tub; Remodeled bathrooms; Bathtub and shower features; Stone/granite counters
• Heating & cooling: Central cooling; Central furnace heating; Natural gas heating
• Interior features: High ceilings (9+ feet) with two-story and cathedral/vaulted ceiling elements; Beamed ceilings; Open floor plan; Recessed lighting; Crown moldings; Wainscoting and chair railings; Built-ins; Balcony; Two staircases; Granite and quartz counters; Stone counters; Remodeled/updated; Sliding glass door(s); Double pane windows; Exhaust fans; Upgraded finishes
• Laundry & utility: Laundry inside the home; Laundry located in garage

What this means for you Summary

Snapshot

• This is a 3-bed/4.5-bath single-family listed at $2.95M.

Deal economics

• At list price, monthly cash flow is $-11k ($-134k/yr) — negative.
• To cash-flow at today's rent, offer at most $973k (67.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $911k (69.1% below list).
• Recommended offer: $911k (69.1% below list) — sets the bar for 1% rule.
• Cap rate 1.8% 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 (+2.6%/yr); 121 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $315k of equity ($20k loan paydown + $295k 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 ~$507k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($2.91M) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 22y 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 $1.26M; list at $2.95M implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $911,431 (69.1% 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. Built in 1962 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.31% ✗
• Cap rate: 1.77%
• Cash-on-cash: -16.17%
• DSCR: 0.28
• GRM: 27.0

CMA / ARV

• ARV (median comp): $3,679,988
• List price: $2,950,000
• Delta: -18.48%
• 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
231 Canal	0.14mi	4/3.0 (+1)	2,562 (+1%)	6mo	$3,550,000	$1,386	76
315 Lugonia St	0.05mi	4/4.0 (+1)	2,755 (+8%)	2mo	$3,100,000	$1,125	76
354 62nd St	0.10mi	3/3.0	2,311 (-9%)	1mo	$3,200,000	$1,385	73
223 Canal St	0.16mi	4/3.0 (+1)	2,562 (+1%)	12mo	$3,425,000	$1,337	70
207 Canal St	0.20mi	4/4.0 (+1)	2,431 (-4%)	10mo	$4,060,000	$1,670	68
6711 Seashore Dr	0.23mi	4/3.5 (+1)	2,400 (-6%)	9mo	$4,025,000	$1,677	63
6804 West Oceanfront	0.26mi	4/4.5 (+1)	2,398 (-6%)	15mo	$8,500,000	$3,545	60
5405 Seashore Dr	0.48mi	4/4.0 (+1)	2,456 (-4%)	12mo	$10,500,000	$4,275	55
1645 Pocomo Way	0.60mi	4/3.5 (+1)	2,274 (-11%)	14mo	$2,200,000	$967	34
1068 Hampton Dr	0.60mi	4/3.5 (+1)	2,274 (-11%)	16mo	$1,966,000	$865	32
1637 Bridgewater Way	0.61mi	3/3.5	2,274 (-11%)	22mo	$1,900,000	$836	32
1641 Bridgewater Way	0.62mi	4/3.5 (+1)	2,274 (-11%)	15mo	$1,925,000	$847	31

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 · 2.56% rent growth · sell at horizon

5-year hold

• IRR: 13.0%
• Equity multiple: 2.08×
• Total profit: $888,600
• Equity at exit: $2,657,594

10-year hold

• IRR: 13.2%
• Equity multiple: 4.83×
• Total profit: $3,167,265
• Equity at exit: $5,731,201

Cash invested: $826,000 (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 92663

• Home prices YoY: 3.6%
• Rents YoY: 2.6%
• Active inventory: 121
• Price-to-rent: 27.0×

Monthly cashflow live

• Estimated rent: $9,114 high
• Mortgage (P&I): −$15,470
• Tax from tax record: −$1,573 /mo · $18,881/yr
• Insurance: −$1,229
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$55
• Vacancy / Maint / Mgmt: −$1,914
• Net cashflow: $-11,194

Break-even live

Break-even rent $23,284

Max offer price $972,555

Occupancy floor —

Sensitivity live

Price	-10% $-9,524	-5% $-10,359	+0% $-11,194	+5% $-12,029	+10% $-12,864
Rent	-10% $-11,914	-5% $-11,554	+0% $-11,194	+5% $-10,834	+10% $-10,474
Rate	-1.0pp $-9,708	-0.5pp $-10,444	base $-11,194	+0.5pp $-11,958	+1.0pp $-12,736

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: $737,500
• Closing costs: $88,500
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
404 Prospect St Newport Beach, CA	3.0	3.0	1960	$10,000	$5.10	0d	1	0.05mi
6111 Seashore Dr Newport Beach, CA	4.0	5.0	3143	$18,325	$5.83	0d	1	0.22mi
7304 W Oceanfront Newport Beach, CA	4.0	4.0	2562	$25,000	$9.76	0d	1	0.41mi
18 Odyssey Ct #116 Newport Beach, CA	3.0	3.0	1778	$7,800	$4.39	0d	1	0.54mi
1068 Hampton Dr Costa Mesa, CA	4.0	3.5	2274	$7,800	$3.43	0d	1	0.61mi
2 Escapade Ct Newport Beach, CA	4.0	3.0	1778	$6,400	$3.60	45d	1	0.84mi
4405 Channel Pl Newport Beach, CA	3.0	3.0	1836	$15,000	$8.17	0d	1	0.85mi
7 Balboa Cvs Newport Beach, CA	4.0	4.0	2752	$17,500	$6.36	20d	1	0.94mi
52 Ebb Tide Cir Newport Beach, CA	4.0	4.0	2229	$8,000	$3.59	15d	1	1.07mi
38 Ebb Tide Cir Newport Beach, CA	4.0	3.5	1864	$6,695	$3.59	9d	1	1.07mi
52 Ebb Tide Cir Newport Beach, CA	4.0	3.5	2229	$8,000	$3.59	18d	1	1.07mi
28 Ebb Tide Cir Newport Beach, CA	4.0	3.5	2229	$7,800	$3.50	25d	1	1.07mi
13 Balboa Blvd Newport Beach, CA	3.0	4.5	3481	$15,000	$4.31	0d	1	1.07mi
3715 Seashore Dr Newport Beach, CA	3.0	3.5	2725	$40,000	$14.68	23d	1	1.10mi
408 38th St Newport Beach, CA	4.0	2.5	2560	$30,000	$11.72	45d	1	1.15mi
606 36th St Newport Beach, CA	4.0	4.0	2550	$9,800	$3.84	15d	1	1.24mi
512 35th St Newport Beach, CA	4.0	3.5	2112	$8,500	$4.02	45d	1	1.27mi
3306 Marcus Ave Newport Beach, CA	4.0	4.5	2711	$25,000	$9.22	45d	1	1.31mi
3306 Marcus Ave Newport Beach, CA	4.0	4.5	2711	$25,000	$9.22	4d	1	1.31mi
1669 Grand Vw Costa Mesa, CA	3.0	4.5	2142	$5,795	$2.71	45d	1	1.36mi
21892 Starfire Ln Huntington Beach, CA	4.0	3.0	2265	$5,950	$2.63	4d	1	1.37mi
3121 W Coast Hwy Unit 7AB Newport Beach, CA	3.0	2.0	2400	$28,000	$11.67	20d	1	1.41mi
664 Wedge Costa Mesa, CA	3.0	3.5	2057	$5,500	$2.67	45d	1	1.42mi
1509 Orange Ave Unit A Costa Mesa, CA	4.0	4.0	2500	$8,000	$3.20	16d	1	1.43mi
629 W 17th St Costa Mesa, CA	3.0	4.0	2101	$6,300	$3.00	45d	1	1.49mi

HOA detail

• Monthly dues: $55 · $660/yr
• Likely covers: gas

Listing history 34 events

1. 2026-06-21
   days on market $2,950,000 Active 16 DOM
2. 2026-06-18
   days on market $2,950,000 Active 13 DOM
3. 2026-06-17
   days on market $2,950,000 Active 12 DOM
4. 2026-06-16
   days on market $2,950,000 Active 11 DOM
5. 2026-06-15
   days on market $2,950,000 Active 10 DOM
6. 2026-06-13
   days on market $2,950,000 Active 8 DOM
7. 2026-06-13
   days on market $2,950,000 Active 7 DOM
8. 2026-06-09
   days on market $2,950,000 Active 4 DOM
9. 2026-06-08
   days on market $2,950,000 Active 3 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    pricedays on marketlisting id $2,950,000 Active 2 DOM
12. 2026-03-12
    status Active 2533-char remark
13. 2025-11-07
    price $2,999,900 2533-char remark
14. 2025-09-17
    status Active 2533-char remark
15. 2024-12-28
    listed $3,399,900 Active 2533-char remark
16. 2023-07-31
    status Active
17. 2023-06-16
    status Active
18. 2023-05-04
    price $2,995,000
19. 2023-04-23
    status Active
20. 2023-04-06
    historical Active Under Contract
21. 2023-03-24
    listed $3,125,000 Active
22. 2023-03-16
    historical
23. 2010-08-24
    historical
24. 2010-02-09
    listed $1,349,000 Active
25. 2009-03-23
    historical
26. 2008-09-09
    listed $1,425,000
27. 2008-04-26
    historical
28. 2008-01-10
    price $1,510,000
29. 2007-10-24
    listed $1,610,000
30. 2005-02-22
    soldstatus $1,265,000
31. 2005-02-18
    soldstatus $1,265,000
32. 2005-01-19
    listed $1,289,000
33. 2004-12-25
    historical
34. 2004-07-27
    listed $1,289,000

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

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $18,881 · $1,573/mo
• Projected year-2 tax: $22,420 · $1,868/mo
• Expected delta: +$3,539/yr (+$295/mo · 18.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥82°F today · 20 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: $109,372
• − Mortgage interest: −$165,246
• − Property taxes: −$18,881
• − Insurance: −$15,548
• − Repairs & maintenance: −$8,750
• − Management: −$8,750
• − HOA: −$660
• − Depreciation: −$85,818
• Taxable loss: −$194,280
• Est. tax savings @ 24.0%: +$46,627
• After-tax cash flow: $-87,699/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): 21,368
• Household income: $141,541
• Rent vs Own: 51.6% rent · 48.4% own
• Severe rent burden: 1158.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 13% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 5% Italian 5% Romanian 4%
• Foreign-born: 11% · Canada, Dominican Republic, Vietnam
• Languages at home: 84% English-only · Spanish 7% Other Indo-European 3% Russian/Polish/Slavic 2%

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: ▲ 19.24%
• Current HPI: 552.1519
• Rent YoY: ▲ 2.56%
• 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

+128.9% since first listed

25 events — show timeline

• 2026-06-05 Listed $2,950,000 CRMLS
• 2026-05-29 Relisted — CRMLS
• 2026-03-12 Relisted — CRMLS
• 2025-11-07 Price Changed $2,999,900 CRMLS
• 2025-09-17 Relisted — CRMLS
• 2024-12-28 Listed $3,399,900 CRMLS
• 2023-07-31 Relisted — CRMLS
• 2023-06-16 Relisted — CRMLS
• 2023-05-04 Price Changed $2,995,000 CRMLS
• 2023-04-23 Relisted — CRMLS
• 2023-04-06 Contingent — CRMLS
• 2023-03-24 Listed $3,125,000 CRMLS
• 2023-03-16 Coming Soon — CRMLS
• 2010-08-24 Listing Removed — CRMLS
• 2010-02-09 Listed $1,349,000 CRMLS
• 2009-03-23 Listing Removed — CRMLS
• 2008-09-09 Listed $1,425,000 CRMLS
• 2008-04-26 Listing Removed — CRMLS
• 2008-01-10 Price Changed $1,510,000 CRMLS
• 2007-10-24 Listed $1,610,000 CRMLS
• 2005-02-22 Sold (MLS) $1,265,000 CRMLS
• 2005-02-18 Sold (Public Records) $1,265,000 Public Records
• 2005-01-19 Listed $1,289,000 CRMLS
• 2004-12-25 Listing Removed — CRMLS
• 2004-07-27 Listed $1,289,000 CRMLS

Property tax history

+1.5%/yr

Latest (2025): $18,881 · +1.6% YoY. Source: county tax records.