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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Investment property for sale in Newport Beach at 240 Nice Ln APT 303, Newport Beach, CA, 92663 offers a 8.71% rental yield on a $1,199,000 purchase with $8,707/mo rent. Total monthly income registers $8,707/mo, and a $5,869/mo payment leaves $383/mo available for distribution. Annual cash flow reaches $4,599/yr on $388,476 to close, and return on cash invested stands at 21.55% in year one. Equity gained on principal adds $7,737/yr while 5% annual appreciation supports $331,262 over five years. Portfolio math shows five-year ROI at 112.58% and total cumulative return in cash at $437,349. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $8,707/mo property income against a $5,869/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1979
N/A lot
$N/A/sqft
$906 monthly HOA
Neighborhood data shown for ZIP Code: 92663, Newport Beach, CA area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,581 (100%) |
| Owner Occupied HU | 4,409 (38.1%) |
| Renter Occupied HU | 5,226 (45.1%) |
| Vacant Housing Units | 1,946 (16.8%) |
| Median Home Value | $1,827,685 |
| Average Home Value | $1,633,620 |
Residential
11,565
Single Family
8,093
Multi-Family
3,472
Businesses
1,521
Date | Event | Price |
|---|---|---|
| 2024-08-09 | Listed for sale | $1,199,000 |
| 2024-08-08 | Contingent | $1,199,000 |
| 2024-07-25 | Listed for sale | $1,199,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2023-08-30 | $8118.88 | 1.75% | $745,671 | 2.00% |
| 2022-08-30 | $7979.50 | 1.95% | $731,050 | 2.00% |
| 2021-08-30 | $7827.02 | 0.98% | $716,716 | 1.04% |
Listed by: Cara Farley • Carolwood Estates
Mls Name: CRMLS
Mls Provider:
Mls ID: #NP24152812
Disclaimer: The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional. Based on information from California Regional Multiple Listing Service, Inc. as of 2024-01-24 10:53:37 PST and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
