273 Revere · Newport Beach, CA 92660

$595,000

2 bd · 2.0 ba · 1,040 sqft · Manufactured · 33 Days on market

Built 1965 10 ac lot Est $465k · 28% over

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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).

• Cash flow +13.9/30.0
• Appreciation +10.0/10.0
• Schools +4.8/10.0
• DSCR +4.2/10.0
• 1% rule +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

Great unique corner location with an updated and remodeled home in Bayside Village near Back Bay in the heart of Newport Beach. The home sits on a very special corner lot which allows for a large patio deck plus a yard area with artificial grass and easy maintenance and 2 car parking with rear and carport side vinyl fencing. The carport has a custom made metal sliding gate to close off the carport as well as a sliding gate to close off the yard and extra parking area if needed. Inside is a light and bright great room with remodeled kitchen and a dining area. The great room windows have a large custom canopy on the exterior. Down the hall is a large master suite with remodeled bathroom and a

Key facts

• Corner location
• Remodeled kitchen
• Artificial grass

Tags

• CORNER LOCATION
• LARGE PATIO DECK
• ARTIFICIAL GRASS
• CUSTOM MADE METAL SLIDING GATE
• REMODELED KITCHEN
• BUILT IN SINK

Property features AI

Finance

• Other: Association provides trash and sewer services
• Financial info: Land lease (current): $3,300 monthly; Rent includes trash, water and sewer
• HOA & community: Community amenities: pool, spa, clubhouse, gym/exercise room, sport court, dock, picnic area, outdoor cooking / barbecue area, fire pit, banquet facilities, meeting/banquet/card rooms, billiard room; Community features include watersports, biking, street lighting and park; Park name: Bayside Village; Manager approval required; Pets allowed: dogs and cats (breed restrictions)

Exterior

• Parking: Attached carport (1 space); Additional parking space (1 total)
• Security: Smoke detector; Resident manager
• Utilities: 220V electric throughout; Natural gas available; Public / district water; Public sewer (sewer paid); Cable available; Electricity connected; Water connected; Sewer connected
• Home design: Single-story; Entry on side; Faces west; Updated / remodeled; Mobile home remains (20' x 52'); Has view; Marina in community; Corner lot, level with street, landscaped
• Construction: Wood, glass and drywall construction; Pier jacks foundation
• Exterior features: Covered and open patio; Rain gutters; Exterior lighting; Patio; In-ground fenced community pool with lap lanes; heated; Wood skirt

Interior

• Kitchen: Remodeled kitchen; Gas cooktop; Built-in range; Dishwasher; Garbage disposal; Pots & pan drawers; Gas water heater
• Bedrooms: Primary suite
• Flooring: Laminated flooring
• Bathrooms: 2 full bathrooms; Remodeled bathrooms; Stone counters; Linen closet / storage; Shower
• Heating & cooling: Central furnace
• Interior features: Built-ins; High ceilings (9+ feet); Track lighting; Ceiling fan; Living room deck attached; Recessed lighting; Open floor plan; Storage space; Stone counters / granite counters; Sliding glass door(s); Double pane windows; Skylights; Blinds; Custom window coverings; No interior steps; Smoke detector; Resident manager; In-ground community heated spa
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $595k.

Deal economics

• At list price, monthly cash flow is $65 ($777/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $529k (11.1% below list).
• Recommended offer: $529k (11.1% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: Corona Del Mar High (math 55% / reading 63%, grade C+, #221 of 1,170 statewide, top 19%, 2,059 students, 20% FRL) — zoned schools average 20% FRL vs 40% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.1%/yr); 154 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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).
• This rent runs 40% of the median local income ($160k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $64k of equity ($4k loan paydown + $60k appreciation (10.0% local appreciation)).
• Orange County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 4.1% rent growth), your $167k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$102k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($577k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $528,696 (11.1% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.89% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.47%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $464,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
265 Mayflower	0.05mi	2/2.0	1,100 (+6%)	0mo	$370,000	$336	88
208 Tremont Dr	0.11mi	2/2.0	1,040 (0%)	16mo	$465,000	$447	82
312 Concord Ln	0.03mi	2/2.0	1,000 (-4%)	14mo	$350,000	$350	80
205 Tremont Dr	0.11mi	3/2.0 (+1)	1,078 (+4%)	6mo	$649,000	$602	78
237 Plymouth Ave	0.04mi	3/2.0 (+1)	1,152 (+11%)	1mo	$630,000	$547	74
24 Saratoga #24	0.20mi	2/2.0	1,100 (+6%)	9mo	$850,000	$773	74
129 Liberty	0.14mi	2/2.0	1,140 (+10%)	12mo	$539,000	$473	67
292 Mayflower Dr	0.07mi	2/2.0	1,152 (+11%)	15mo	$415,000	$360	67
77 Yorktown	0.17mi	2/1.0	1,150 (+11%)	5mo	$369,999	$322	66
122 Yorktown Dr	0.12mi	2/2.0	1,150 (+11%)	16mo	$475,000	$413	64
238 Plymouth Ave	0.05mi	3/2.0 (+1)	1,152 (+11%)	17mo	$400,000	$347	60
275 Revere Way	0.02mi	3/2.0 (+1)	1,176 (+13%)	18mo	$560,000	$476	57

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 · 4.11% rent growth · sell at horizon

5-year hold

• IRR: 25.0%
• Equity multiple: 3.01×
• Total profit: $334,228
• Equity at exit: $536,023

10-year hold

• IRR: 22.3%
• Equity multiple: 6.97×
• Total profit: $993,837
• Equity at exit: $1,155,954

Cash invested: $166,600 (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 92660

• Home prices YoY: 3.4%
• Rents YoY: 4.1%
• Active inventory: 154
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $5,287 high
• Mortgage (P&I): −$3,120
• Tax est. 1.5%: −$744 /mo · $8,925/yr
• Insurance: −$248
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,110
• Net cashflow: $65

Break-even live

Break-even rent $5,205

Max offer price $595,000

Occupancy floor 94%

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: $148,750
• Closing costs: $17,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
94 Yorktown Newport Beach, CA	2.0	2.0	1029	$4,250	$4.13	13d	1	0.16mi
200 Promontory Dr W Newport Beach, CA	1.0–2.0	1.0–2.0	1187	$5,385	$4.54	1d	25	0.27mi
212 Garnet Ave Newport Beach, CA	2.0	2.0	791	$5,900	$7.46	43d	1	0.57mi
113 Emerald Ave Newport Beach, CA	3.0	2.0	1200	$8,000	$6.67	43d	1	0.58mi
120 Garnet Ave Newport Beach, CA	2.0	1.0	850	$5,150	$6.06	43d	1	0.61mi
26 Villa Point Dr Newport Beach, CA	2.0	2.0	1410	$5,000	$3.55	43d	1	0.62mi
216 Agate Ave Unit 1/2 Newport Beach, CA	1.0	1.0	767	$4,000	$5.22	43d	1	0.62mi
314 Ruby Ave Newport Beach, CA	3.0	2.0	1500	$8,000	$5.33	43d	1	0.63mi
320 Sapphire Ave Newport Beach, CA	2.0	2.0	1000	$4,200	$4.20	2d	1	0.65mi
1009 N Bay Front Newport Beach, CA	3.0	2.0	1200	$12,000	$10.00	24d	1	0.65mi
216 Collins Ave Newport Beach, CA	3.0	2.0	1200	$8,000	$6.67	43d	1	0.69mi
308 Coral Ave Newport Beach, CA	3.0	2.0	1390	$12,000	$8.63	43d	1	0.70mi
122 Opal Ave Unit 2 Newport Beach, CA	2.0	1.0	700	$4,750	$6.79	18d	1	0.72mi
1063 Dover Dr Newport Beach, CA	2.0	2.5	1152	$4,900	$4.25	43d	1	0.78mi
208 Villa Point Dr Newport Beach, CA	1.0	1.0	774	$3,490	$4.51	43d	1	0.78mi
232 Villa Point Dr Newport Beach, CA	1.0	1.0	851	$4,350	$5.11	24d	1	0.78mi
320 Villa Point Dr Newport Beach, CA	2.0	2.0	1307	$6,500	$4.97	43d	1	0.78mi
207 E Edgewater Ave Newport Beach, CA	2.0	2.0	950	$9,000	$9.47	20d	1	0.78mi
310 Fernando St #105 Newport Beach, CA	2.0	2.0	1325	$4,700	$3.55	2d	1	0.81mi
310 Fernando St Newport Beach, OS	2.0	2.0	1331	$5,198	$3.90	43d	3	0.81mi
203 Amethyst Ave Newport Beach, CA	3.0	3.0	1186	$6,500	$5.48	43d	1	0.82mi
222 Marine Ave Unit C Newport Beach, CA	2.0	2.0	1300	$5,800	$4.46	43d	1	0.84mi
1510 Abalone Pl Newport Beach, CA	1.0	1.0	750	$3,500	$4.67	43d	1	0.84mi
307 Anade Ave Newport Beach, CA	2.0	2.0	1100	$4,750	$4.32	43d	1	0.86mi
312 Saint Andrews Rd Unit B Newport Beach, CA	2.0	1.0	1000	$4,850	$4.85	43d	1	0.88mi
1728 Bedford Ln Newport Beach, CA	1.0–2.0	1.0–2.0	954	$3,795	$3.98	1d	2	0.88mi
206 Adams St #1 Newport Beach, CA	3.0	3.0	1065	$9,000	$8.45	3d	1	0.90mi
114 Onyx Ave Newport Beach, CA	3.0	2.0	1050	$6,750	$6.43	43d	1	0.90mi
533 Saint Andrews Rd Newport Beach, CA	2.0	1.0	980	$3,800	$3.88	2d	1	0.92mi
1400 Haven Pl Unit 533 Newport Beach, CA	2.0	1.0	980	$3,800	$3.88	2d	1	0.92mi
618 W Balboa Blvd Newport Beach, CA	2.0	1.0	780	$4,195	$5.38	43d	1	0.96mi
880 Irvine Ave Newport Beach, CA	2.0	1.0–2.0	704	$3,179	$4.51	1d	99	0.97mi
2101 E 15th St #8 Newport Beach, CA	2.0	1.5	1025	$4,350	$4.24	43d	1	0.98mi
116 Jade Ave Newport Beach, CA	2.0	1.5	1144	$7,000	$6.12	43d	1	1.04mi
913 W Balboa Blvd Newport Beach, CA	3.0	3.0	1423	$8,500	$5.97	16d	1	1.09mi
913 W Balboa Blvd Unit C Newport Beach, CA	3.0	3.0	1423	$8,500	$5.97	7d	1	1.09mi
1114 W Balboa Blvd Unit 1114 Newport Beach, CA	2.0	1.0	800	$3,850	$4.81	24d	1	1.15mi
5100 Colony Plz Newport Beach, CA	1.0–2.0	1.0–2.0	1316	$6,260	$4.76	2d	10	1.17mi
1144 W Balboa Blvd Unit A1 Newport Beach, CA	2.0	1.0	1100	$6,500	$5.91	24d	1	1.18mi
1144 W Balboa Blvd Unit A Newport Beach, CA	2.0	1.0	1100	$4,750	$4.32	24d	1	1.18mi

Listing history 15 events

1. 2026-06-18
   days on market $595,000 Active 33 DOM
2. 2026-06-17
   days on market $595,000 Active 32 DOM
3. 2026-06-16
   days on market $595,000 Active 31 DOM
4. 2026-06-15
   days on market $595,000 Active 30 DOM
5. 2026-06-13
   days on market $595,000 Active 28 DOM
6. 2026-06-13
   days on market $595,000 Active 27 DOM
7. 2026-06-09
   days on market $595,000 Active 24 DOM
8. 2026-06-08
   days on market $595,000 Active 23 DOM
9. 2026-06-07
   days on market $595,000 Active 22 DOM
10. 2026-06-04
    days on market $595,000 Active 19 DOM
11. 2026-06-03
    days on market $595,000 Active 18 DOM
12. 2026-06-02
    days on market $595,000 Active 17 DOM
13. 2026-06-01
    days on market $595,000 Active 16 DOM
14. 2026-05-31
    days on market $595,000 Active 15 DOM
15. 2026-05-16
    listed $595,000 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥82°F today · 23 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: $63,444
• − Mortgage interest: −$33,329
• − Property taxes: −$8,925
• − Insurance: −$2,975
• − Repairs & maintenance: −$5,075
• − Management: −$5,075
• − Depreciation: −$17,309
• Taxable loss: −$9,246
• Est. tax savings @ 24.0%: +$2,219
• After-tax cash flow: $2,996/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): 34,890
• Household income: $159,564
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 2633.0

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 (74%)
• Race & ethnicity: White 74% Two or more races 10% Hispanic / Latino 10% Asian 9% Black 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 4% Lithuanian 3% Slovak 3%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 81% English-only · Spanish 5% Other Indo-European 5% Chinese 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: ▲ 17.65%
• Current HPI: 537.8751
• Rent YoY: ▲ 4.11%
• 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

1 event — show timeline

• 2026-05-16 Listed $595,000 CRMLS

Property tax history

+12.2%/yr

Latest (2025): $207 · -0.4% YoY. Source: county tax records.