26664 Seagull Way Unit B210 · Malibu, CA 90265

$750,000

1 bd · 1.0 ba · 696 sqft · Condo public records · 70 Days on market

Built 1973 $1575/mo HOA · 15% of rent

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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 +23.6/30.0
• 1% rule +9.1/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 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

Stunning ocean views await from this top-floor, spacious one-bedroom condominium in the highly sought-after Tivoli Cove community. Freshly painted and thoughtfully designed, this inviting home features a cozy fireplace and a large walk-in closet for ample storage. Wake up to breathtaking sunrises over the sea and enjoy easy access to the surf just steps from your door. Experience resort-style living at its finest with amenities including tennis courts, a heated pool and spa, fitness center, sauna, beach access, volleyball, and oceanfront barbecue areas. This gated and guarded community offers peace of mind along with two assigned parking spaces. Ideally located near world-class dining and s

Key facts

• Fitness center
• Tennis courts
• Beach access

Tags

• COZY FIREPLACE
• LARGE WALK-IN CLOSET
• BEACH ACCESS
• TENNIS COURTS
• HEATED POOL
• FITNESS CENTER

Property features AI

Finance

• Other: Community offers watersports
• HOA & community: Part of Tivoli Home Owners Association; Monthly association fee of $1,575; Association amenities include: pool, spa, tennis, gym/exercise room, clubhouse, picnic area, watersports, onsite property management, security, insurance, trash service, recreational/multipurpose room, and water

Exterior

• Parking: Assigned parking; 2 parking spaces (includes 2 garage spaces)
• Security: Guarded community; Gated community with automatic gate
• Utilities: Public sewer; Water provided by district/public (see remarks)
• Home design: Condominium; Multi-family structure; Attached property; No one above (no unit above this unit)
• Construction: Year built per assessor; Assessor's data for living area
• Exterior features: Deck patio; In-ground heated pool (association); Pool and spa maintained by association; Fenced yard with chain link and wrought iron fencing; Property slopes down from the street; Has view

Interior

• Kitchen: Microwave; Refrigerator; Free-standing range
• Bedrooms: Main floor bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Heating available
• Interior features: One-level residence; Guarded community with gated entry and automatic gate; Association-maintained heated in-ground spa; Sauna; Gym; Walk-in closet; Main floor bedroom; Association spa
• Laundry & utility: Laundry area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $750k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $750k).
• Recommended offer: $705k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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; 2 comparable units currently listed for rent nearby; high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $10,544/mo this rent would consume 64% 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 $10k of equity ($5k loan paydown + $5k 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 $210k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($705k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $195k; list at $750k implies a 285% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $705,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 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 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.41% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.10%
• DSCR: 1.36
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 6.0%
• Equity multiple: 1.29×
• Total profit: $60,740
• Equity at exit: $241,236

10-year hold

• IRR: 8.0%
• Equity multiple: 1.85×
• Total profit: $178,701
• Equity at exit: $309,431

Cash invested: $210,000 (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: 5.9×

Monthly cashflow live

• Estimated rent: $10,544 medium
• Mortgage (P&I): −$3,933
• Tax from tax record: −$1,092 /mo · $13,100/yr
• Insurance: −$312
• HOA: −$1,575
• Vacancy / Maint / Mgmt: −$2,214
• Net cashflow: $1,418

Break-even live

Break-even rent $8,750

Max offer price $750,000

Occupancy floor 82%

Sensitivity live

Price	-10% $1,842	-5% $1,630	+0% $1,418	+5% $1,206	+10% $993
Rent	-10% $585	-5% $1,001	+0% $1,418	+5% $1,834	+10% $2,251
Rate	-1.0pp $1,796	-0.5pp $1,609	base $1,418	+0.5pp $1,224	+1.0pp $1,026

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: $187,500
• Closing costs: $22,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27400 Pacific Coast Hwy #108 Malibu, CA	1.0	1.0	700	$7,950	$11.36	44d	1	0.98mi
25366 Malibu Rd #2 Malibu, CA	1.0	1.0	509	$6,500	$12.77	44d	1	1.49mi

HOA detail condo

• Monthly dues: $1,575 · $18,900/yr
• Likely covers: poolgymsecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $750,000 Active 70 DOM
2. 2026-06-17
   pricestatus $750,000 Active 69 DOM
3. 2026-06-17
   days on market $885,000 Active Under Contract 69 DOM
4. 2026-06-16
   days on market $885,000 Active Under Contract 68 DOM
5. 2026-06-15
   days on market $885,000 Active Under Contract 67 DOM
6. 2026-06-13
   days on market $885,000 Active Under Contract 65 DOM
7. 2026-06-13
   days on market $885,000 Active Under Contract 64 DOM
8. 2026-06-09
   days on market $885,000 Active Under Contract 61 DOM
9. 2026-06-08
   days on market $885,000 Active Under Contract 60 DOM
10. 2026-06-07
    days on market $885,000 Active Under Contract 59 DOM
11. 2026-06-04
    days on market $885,000 Active Under Contract 56 DOM
12. 2026-06-03
    days on market $885,000 Active Under Contract 55 DOM
13. 2026-06-02
    days on market $885,000 Active Under Contract 54 DOM
14. 2026-06-01
    days on market $885,000 Active Under Contract 53 DOM
15. 2026-05-31
    days on market $885,000 Active Under Contract 52 DOM
16. 2026-04-30
    historical Active Under Contract
17. 2026-04-09
    listed $885,000 Active
18. 1996-09-26
    soldstatus $195,000
19. 1990-05-11
    soldstatus $332,000
20. 1989-06-07
    soldstatus $290,000

ⓘ 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: $13,100 · $1,092/mo
• Projected year-2 tax: $13,100 · $1,092/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 26% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥83°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: $126,534
• − Mortgage interest: −$42,012
• − Property taxes: −$13,100
• − Insurance: −$3,750
• − Repairs & maintenance: −$10,123
• − Management: −$10,123
• − HOA: −$18,900
• − Depreciation: −$21,818
• Taxable income: $6,709
• Est. tax owed @ 24.0%: −$1,610
• After-tax cash flow: $15,405/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

+205.2% since first listed

5 events — show timeline

• 2026-04-30 Contingent — CRMLS
• 2026-04-09 Listed $885,000 CRMLS
• 1996-09-26 Sold (Public Records) $195,000 Public Records
• 1990-05-11 Sold (Public Records) $332,000 Public Records
• 1989-06-07 Sold (Public Records) $290,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $13,100 · +207.0% YoY. Source: county tax records.