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407 E Bay St
Costa Mesa, CA

407 E Bay St

2.5M
4 bd • 2 ba • 2,440 sf

This analysis was generated by artificial intelligence on 2/28/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

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0:00 / 0:00
List Price

$2,541,000

Price/Sq.Ft

$1,041

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Curb appeal with well-maintained lawn and picket fence • Desirable location in Costa Mesa, CA • Strong rental market indicated by high 4-bedroom rental rates ($4032) • Continued seller's market may lead to sustained price appreciation • After accounting for ~$5,000 in repairs, this property could still have $104,000 in potential equity (requires significant renovation investment) • Rental Potential: $48,384 estimated annual revenue (after renovations)

The Bad

• Potential landscaping updates to enhance curb appeal further (Estimated Cost: $5,000) • High price per square foot ($1041.39) may limit future appreciation potential • Seller's market conditions could change, impacting property values

The Ugly

• The listing price of $2,541,000 is significantly higher than the recent median sold price of $1,365,000 in the area, which may indicate overpricing or the need for negotiation. • The property description and room details are missing, making it difficult to assess the true value and condition of the property.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

Rental Property Investors: Potential annual revenue of $48,384 with 99% occupancy rate Value Investors: Projected 16.1% appreciation potential in moderate scenario Renovation-Minded Buyers: Estimated $5,000 in strategic upgrades could significantly increase property value

Not For

No specific buyer categories to avoid identified
Demographics
Area Median Income

$94,833

Property History

Price History
Ownership Timeline
$0Cash Purchase
Nov 10, 2018
Michael R Starkenburg, Patricia D StarkenburgMichael R Starkenburg, Patricia D Starkenburg
Intrafamily Transfer
Non-Arm's Length Transactions
$1,250,000Financed
Feb 10, 2006
Tyler Hesse, Lisa HesseMichael R Starkenburg, Patricia D Starkenburg
Grant Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Sep 13, 2005
Tyler Hesse, Lisa HesseTyler Hesse, Lisa Hesse
Intrafamily Transfer
Non-Arm's Length Transactions
$760,000Financed
Feb 10, 2005
Carole L MetcalfTyler Hesse, Lisa Hesse
Grant Deed
Standard Sale (Purchase/Resales)
$0Financed
Apr 4, 1995
Carole L MetcalfCarole L Metcalf
Intrafamily Transfer
Non-Arm's Length Transactions

Market Insights

Real-time analysis of the local housing market

January 2025
Seller's Market

This is currently a competitive market for buyers in 92627. Homes are selling quickly and often above asking price, so be prepared to act fast and make strong offers.

$1,365,000
$812/sqft
14.1%
Change from last month
Your price: $2.5M (+86%)
Your price/sqft: $1,041/sqft (+28%)
64
19 sold last month
6.7%
Change from last month
37 days
Average for homes in this area
6.4%
Change from last month

Sale Price Distribution

Last month
7
Over Asking
homes
1
At Asking
homes
11
Under Asking
homes
Total: 19 homes sold

If you're buying a home in 92627, you may be able to get a good deal. 57.9% of homes here sold below asking price last month.

Sale Time Distribution

Last month
11
Under 30 Days
homes
Your property
5
30-90 Days
homes
3
Over 90 Days
homes
Total: 19 homes sold

Many homes in 92627 are selling fast, if you're buying plan to act quickly.

Risk Assessment

Safety Analysis

68/100
Good

Based on data from Fountain Valley Police Department

Total Crime Rate
1555.5
per 100,000 residents
Violent Crime Rate
334.0
per 100,000 residents
Property Crime Rate
1213.5
per 100,000 residents

Crime Rate Comparison

Recent Crime Trends

2022
Violent Crimes
320
Property Crimes
1,254
2023
Violent Crimes
348
8.7%
Property Crimes
1,189
5.2%

Risk Analysis

• High price per square foot ($1041.39) may limit future appreciation potential • Seller's market conditions could change, impacting property values • Climate & Insurance: No immediate climate mitigation needs identified based on available data. Further assessment is recommended. • The listing price of $2,541,000 is significantly higher than the recent median sold price of $1,365,000 in the area, which may indicate overpricing or the need for negotiation. • The property description and room details are missing, making it difficult to assess the true value and condition of the property.

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Schools

Showing top 5 of 10 schools

Mariners Elementary School

PublicGrades PK-6
8/10
Elementary
695 students

Newport Heights Elementary School

PublicGrades K-6
8/10
Elementary
588 students

Heinz Kaiser Elementary School

PublicGrades 3-6
8/10
Elementary
647 students

Horace Ensign Intermediate School

PublicGrades 7-8
7/10
Middle
1,175 students

Newport Harbor High School

PublicGrades 9-12
7/10
High
2,381 students

Financials

Monthly Costs
Market Rent (4 bed)

$4,032

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Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Subject Property

Price
$2,541,000
Price/sqft
$1,041
Layout
4 bd2 ba

Stats in the Area

Based on 6 comparable properties nearby

Average Price

$3,474,167

26.9%

Your price is 26.9% below average

Median Price

$3,525,000

27.9%

Based on 6 recent sales

Price per Sq.Ft

$1,496

30.4%

Your price is 30.4% below average $/sqft

Comparable Properties

1919 Commodore Road, Newport Beach, CA 92660
Price: $3,695,000
Sq.Ft: 2,079
Beds/Baths: 4/2
$/Sq.Ft:
$1,77770.7%
Sale Date: 10/16/2024
1124 Estelle Lane, Newport Beach, CA 92660
Price: $4,050,000
Sq.Ft: 2,634
Beds/Baths: 3/3
$/Sq.Ft:
$1,53847.6%
Sale Date: 2/13/2025
1206 Mariners Drive, Newport Beach, CA 92660
Price: $3,525,000
Sq.Ft: 2,573
Beds/Baths: 5/3
$/Sq.Ft:
$1,37031.6%
Sale Date: 12/11/2024
461 Costa Mesa Street, Costa Mesa, CA 92627
Price: $3,200,000
Sq.Ft: 2,013
Beds/Baths: 3/3
$/Sq.Ft:
$1,59052.6%
Sale Date: 1/17/2025
226 Sherwood Place, Costa Mesa, CA 92627
Price: $3,100,000
Sq.Ft: 2,321
Beds/Baths: 4/3
$/Sq.Ft:
$1,33628.3%
Sale Date: 10/10/2024
460 Cabrillo Street, Costa Mesa, CA 92627
Price: $3,275,000
Sq.Ft: 2,400
Beds/Baths: 4/3
$/Sq.Ft:
$1,36531.0%
Sale Date: 9/27/2024

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