135 Liberty · Newport Beach, CA 92660

$625,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured · 19 Days on market

Built 2009 13 ac lot Est $558k · 12% over

---

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 +11.4/30.0
• Appreciation +10.0/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• 1% rule +3.3/10.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• ARV discount +2.1/15.0

Listing remarks

Beautiful turnkey home in Bayside Village in the heart of Newport Beach. This property is just a short stroll to the bay and marina, clubhouse, pool/spa/ private beach and dog park. Enter through the dutch door into a spacious great room with high ceilings, lots of windows and an open upgraded kitchen with lots of granite top counter space, numerous cabinets (some with pull out shelves) plus bar seating. Well sized dining area finishes off this great room. Down the hall is a large private master suite with losts of windows, walk in closet and spacious bathroom with tub & shower. There is a second bedroom suite with a large bathroom and walk in shower. The separate laundry room has a

Key facts

• Turnkey home
• Short stroll to bay
• Spacious great room

Tags

• TURNKEY HOME
• SHORT STROLL TO BAY
• PRIVATE BEACH
• SPACIOUS GREAT ROOM
• UPGRADED KITCHEN
• GRANITE TOP COUNTER SPACE

Property features AI

Finance

• Other: Manager approval required for occupancy; Pets allowed with size limits and breed restrictions (dogs and cats OK)
• Financial info: Land lease (monthly) — amount listed separately by park
• HOA & community: Bayside Village community amenities: pool, spa, clubhouse, meeting/banquet rooms, gym/exercise room, picnic and barbecue/outdoor cooking areas, fire pit, dock, dog park, billiard room; Onsite property management; Trash and sewer included in community services; Watersports, biking, fishing, park access

Exterior

• Parking: Covered attached carport (1 space)
• Security: Smoke detector; Carbon monoxide detector; Onsite property management / resident manager
• Utilities: Electricity on property; Natural gas connected; Water connected (district/public); Public sewer; Cable available
• Home design: Single-story home; Mobile home model: Starcrest; Mobile home remains in place; Entry located on side; Faces southeast; No interior steps (accessible); 48-inch-or-wider halls
• Construction: Wood construction with drywall and glass elements; Wood skirting; Pillar/post/pier foundation with pier jacks
• Exterior features: Open patio; Rain gutters; Storage building/shed; Level, landscaped lot; Close to clubhouse; Marina in community; In-ground, fenced, heated community pool; Street lighting; Dock

Interior

• Kitchen: Garbage disposal; Built-in range; Gas range; Dishwasher; Kitchen open to family room; Kitchen island; Pots & pan drawers; Stone/granite counters
• Bedrooms: Main-floor primary bedroom; Walk-in closet
• Flooring: Laminate flooring
• Bathrooms: Two full bathrooms; Upgraded finishes; Shower in tub; Walk-in shower; Granite counters
• Heating & cooling: Central cooling; Central furnace heating
• Interior features: Beamed ceilings; Balcony; Built-ins; High (9+ foot) ceilings; Ceiling fan; Recessed lighting; Open floor plan; Cathedral/vaulted ceilings; Granite counters; Plantation shutters; Window screens; Resident manager; Smoke and carbon monoxide detectors; Spa on site (in-ground, community, heated)
• Laundry & utility: Washer hookup; Gas dryer hookup; Dedicated laundry room; 220V outlet in laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $625k.

Deal economics

• At list price, monthly cash flow is $-219 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $593k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $519k (17.0% below list).
• Recommended offer: $519k (17.0% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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: schools A+, amenities A+, employment A+; Watch: health & safety C-, cost of living F.
• 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); 55% 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 39% 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 $67k of equity ($4k loan paydown + $62k 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 ~$107k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($616k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y 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

• 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 $518,976 (17.0% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.83% ✗
• Cap rate: 5.87%
• Cash-on-cash: -1.50%
• DSCR: 0.93
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $557,568
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
237 Plymouth Ave	0.11mi	3/2.0 (+1)	1,152 (0%)	1mo	$630,000	$547	89
265 Mayflower	0.11mi	2/2.0	1,100 (-4%)	0mo	$370,000	$336	87
77 Yorktown	0.09mi	2/1.0	1,150 (-0%)	5mo	$369,999	$322	87
129 Liberty	0.05mi	2/2.0	1,140 (-1%)	12mo	$539,000	$473	86
4 Saratoga	0.11mi	2/2.0	1,200 (+4%)	3mo	$1,000,000	$833	85
298 Lexington Cir	0.08mi	2/2.0	1,200 (+4%)	6mo	$439,000	$366	84
24 Saratoga #24	0.07mi	2/2.0	1,100 (-4%)	9mo	$850,000	$773	82
205 Tremont Dr	0.06mi	3/2.0 (+1)	1,078 (-6%)	6mo	$649,000	$602	76
61 Saratoga	0.04mi	2/2.0	1,250 (+8%)	13mo	$845,000	$676	73
294 Mayflower Dr	0.06mi	2/2.0	1,260 (+9%)	12mo	$610,000	$484	72
90 Yorktown	0.02mi	3/2.0 (+1)	1,274 (+11%)	14mo	$520,000	$408	64
274 Revere Way	0.13mi	3/2.0 (+1)	1,300 (+13%)	13mo	$585,000	$450	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: 23.6%
• Equity multiple: 2.90×
• Total profit: $332,361
• Equity at exit: $563,050

10-year hold

• IRR: 21.2%
• Equity multiple: 6.73×
• Total profit: $1,002,331
• Equity at exit: $1,214,238

Cash invested: $175,000 (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 92660

• Home prices YoY: 3.4%
• Rents YoY: 4.1%
• Active inventory: 154
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $5,190 high
• Mortgage (P&I): −$3,278
• Tax est. 1.5%: −$781 /mo · $9,375/yr
• Insurance: −$260
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,090
• Net cashflow: $-219

Break-even live

Break-even rent $5,467

Max offer price $593,263

Occupancy floor 99%

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: $156,250
• Closing costs: $18,750
• 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	0.05mi
200 Promontory Dr W Newport Beach, CA	1.0–2.0	1.0–2.0	1187	$5,385	$4.54	1d	25	0.41mi
1063 Dover Dr Newport Beach, CA	2.0	2.5	1152	$4,900	$4.25	43d	1	0.63mi
212 Garnet Ave Newport Beach, CA	2.0	2.0	791	$5,900	$7.46	43d	1	0.71mi
26 Villa Point Dr Newport Beach, CA	2.0	2.0	1410	$5,000	$3.55	43d	1	0.72mi
113 Emerald Ave Newport Beach, CA	3.0	2.0	1200	$8,000	$6.67	43d	1	0.72mi
1728 Bedford Ln Newport Beach, CA	1.0–2.0	1.0–2.0	954	$3,795	$3.98	1d	2	0.73mi
120 Garnet Ave Newport Beach, CA	2.0	1.0	850	$5,150	$6.06	43d	1	0.76mi
216 Agate Ave Unit 1/2 Newport Beach, CA	1.0	1.0	767	$4,000	$5.22	43d	1	0.76mi
314 Ruby Ave Newport Beach, CA	3.0	2.0	1500	$8,000	$5.33	43d	1	0.78mi
320 Sapphire Ave Newport Beach, CA	2.0	2.0	1000	$4,200	$4.20	2d	1	0.80mi
1009 N Bay Front Newport Beach, CA	3.0	2.0	1200	$12,000	$10.00	24d	1	0.80mi
312 Saint Andrews Rd Unit B Newport Beach, CA	2.0	1.0	1000	$4,850	$4.85	43d	1	0.80mi
533 Saint Andrews Rd Newport Beach, CA	2.0	1.0	980	$3,800	$3.88	2d	1	0.81mi
1400 Haven Pl Unit 533 Newport Beach, CA	2.0	1.0	980	$3,800	$3.88	2d	1	0.81mi
880 Irvine Ave Newport Beach, CA	2.0	1.0–2.0	704	$3,179	$4.51	1d	99	0.83mi
216 Collins Ave Newport Beach, CA	3.0	2.0	1200	$8,000	$6.67	43d	1	0.84mi
308 Coral Ave Newport Beach, CA	3.0	2.0	1390	$12,000	$8.63	43d	1	0.85mi
122 Opal Ave Unit 2 Newport Beach, CA	2.0	1.0	700	$4,750	$6.79	18d	1	0.86mi
2101 E 15th St #8 Newport Beach, CA	2.0	1.5	1025	$4,350	$4.24	43d	1	0.87mi
320 Villa Point Dr Newport Beach, CA	2.0	2.0	1307	$6,500	$4.97	43d	1	0.89mi
208 Villa Point Dr Newport Beach, CA	1.0	1.0	774	$3,490	$4.51	43d	1	0.89mi
232 Villa Point Dr Newport Beach, CA	1.0	1.0	851	$4,350	$5.11	24d	1	0.89mi
207 E Edgewater Ave Newport Beach, CA	2.0	2.0	950	$9,000	$9.47	20d	1	0.90mi
310 Fernando St #105 Newport Beach, CA	2.0	2.0	1325	$4,700	$3.55	2d	1	0.94mi
310 Fernando St Newport Beach, OS	2.0	2.0	1331	$5,198	$3.90	43d	3	0.94mi
307 Anade Ave Newport Beach, CA	2.0	2.0	1100	$4,750	$4.32	43d	1	0.97mi
203 Amethyst Ave Newport Beach, CA	3.0	3.0	1186	$6,500	$5.48	43d	1	0.97mi
222 Marine Ave Unit C Newport Beach, CA	2.0	2.0	1300	$5,800	$4.46	43d	1	0.98mi
1510 Abalone Pl Newport Beach, CA	1.0	1.0	750	$3,500	$4.67	43d	1	0.98mi
206 Adams St #1 Newport Beach, CA	3.0	3.0	1065	$9,000	$8.45	2d	1	1.03mi
114 Onyx Ave Newport Beach, CA	3.0	2.0	1050	$6,750	$6.43	43d	1	1.05mi
618 W Balboa Blvd Newport Beach, CA	2.0	1.0	780	$4,195	$5.38	43d	1	1.05mi
1581 Tustin Ave Costa Mesa, CA	2.0	2.0	1100	$5,400	$4.91	18d	1	1.11mi
384 16th Pl Unit B Costa Mesa, CA	2.0	1.0	1015	$4,400	$4.33	43d	1	1.13mi
913 W Balboa Blvd Newport Beach, CA	3.0	3.0	1423	$8,500	$5.97	16d	1	1.16mi
913 W Balboa Blvd Unit C Newport Beach, CA	3.0	3.0	1423	$8,500	$5.97	7d	1	1.16mi
116 Jade Ave Newport Beach, CA	2.0	1.5	1144	$7,000	$6.12	43d	1	1.18mi
1114 W Balboa Blvd Unit 1114 Newport Beach, CA	2.0	1.0	800	$3,850	$4.81	24d	1	1.20mi
5100 Colony Plz Newport Beach, CA	1.0–2.0	1.0–2.0	1316	$6,260	$4.76	2d	10	1.20mi

Listing history 15 events

1. 2026-06-18
   days on market $625,000 Active 19 DOM
2. 2026-06-17
   days on market $625,000 Active 18 DOM
3. 2026-06-16
   days on market $625,000 Active 17 DOM
4. 2026-06-15
   days on market $625,000 Active 16 DOM
5. 2026-06-13
   days on market $625,000 Active 14 DOM
6. 2026-06-13
   days on market $625,000 Active 13 DOM
7. 2026-06-09
   days on market $625,000 Active 10 DOM
8. 2026-06-08
   days on market $625,000 Active 9 DOM
9. 2026-06-07
   days on market $625,000 Active 8 DOM
10. 2026-06-04
    days on market $625,000 Active 5 DOM
11. 2026-06-03
    days on market $625,000 Active 4 DOM
12. 2026-06-02
    days on market $625,000 Active 3 DOM
13. 2026-06-01
    days on market $625,000 Active 2 DOM
14. 2026-05-31
    remarks 695-char remark
15. 2026-05-31
    listed $625,000 Active 1 DOM

ⓘ 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: $62,277
• − Mortgage interest: −$35,010
• − Property taxes: −$9,375
• − Insurance: −$3,125
• − Repairs & maintenance: −$4,982
• − Management: −$4,982
• − Depreciation: −$18,182
• Taxable loss: −$13,379
• Est. tax savings @ 24.0%: +$3,211
• After-tax cash flow: $579/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)

No district data.

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

+230.9% since first listed

5 events — show timeline

• 2026-05-30 Listed $625,000 CRMLS
• 2010-08-17 Listing Removed — CRMLS
• 2010-06-13 Price Changed $159,900 CRMLS
• 2010-04-24 Price Changed $179,000 CRMLS
• 2010-02-28 Listed $188,900 CRMLS

Property tax history

+3.8%/yr

Latest (2025): $445 · -0.4% YoY. Source: county tax records.