Designer Land-Lease Home with
For Sale
$699,000
250 Mayflower Dr, Newport Beach, CA 92660
Turn-key 2-bedroom, 2.5-bath home with central heat and air, patio yard, and covered carport on leased land.
Property Size1,248 SF
Price / SF$560.10
Days on Market122
Property Features for 250 Mayflower Dr
General Information
Standard status
Active
Size
1,248 SF
Property subtype
Manufactured In Park
Listing Agency:
Coldwell Banker Realty
(949) 644-1600
Listed By:
Marilyn Williams · License #00813847
(949) 378-3330
Source:
Exprealty
Added: May 9
Changed: Sep 3
Last Checked: Sep 6 at 11:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Located at 250 Mayflower Dr, Newport Beach, this recently reimagined, turn-key designer home features 2 bedrooms and 2.5 bathrooms with a unique floorplan. The interior includes a gourmet kitchen with custom cabinets and upgraded appliances, herringbone solid wood floors, shiplap, and smooth-finished walls with floor-to-ceiling tile in select areas. The spacious great room offers high ceilings and numerous windows, and the home includes a private primary suite with a walk-in tile-finished shower and a large walk-in closet with custom storage. A second bedroom suite has its own bathroom. Additional features include a dedicated laundry area with built-in wood cabinets and drawers and another half bathroom.
The home is set on land-leased property with a monthly land lease of $3,060 that includes water and trash, along with community amenities. Community features listed include two clubhouses (the north clubhouse is on the water) with pools and jacuzzis, a private beach, picnic areas with barbeques, a fitness room, firepits, game courts, and a dog park.
Outside, enjoy a very private patio yard with a mature tree providing shade. A covered carport offers storage and provides an entrance to the home. The home is equipped with central heat and air conditioning.
The home is set on land-leased property with a monthly land lease of $3,060 that includes water and trash, along with community amenities. Community features listed include two clubhouses (the north clubhouse is on the water) with pools and jacuzzis, a private beach, picnic areas with barbeques, a fitness room, firepits, game courts, and a dog park.
Outside, enjoy a very private patio yard with a mature tree providing shade. A covered carport offers storage and provides an entrance to the home. The home is equipped with central heat and air conditioning.
Key Highlights
- Designer‑finished 2‑bedroom, 2.5‑bath home with central heat and air conditioning
- Large great room with high ceilings and numerous windows, plus open kitchen with custom cabinets and upgraded appliances
- Primary suite with antique fireplace mantle imported from Paris, level walk‑in tile shower, and large walk‑in closet with custom storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,821
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$476,420
$476.4K
Cap Rate 7%
$340,300
$340.3K
Cap Rate 9%
$264,678
$264.7K
Market Conditions
NOI Build-Up for 1,248 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$44.9K $36.00/SF
− Vacancy
−$1.6K −$1.30/SF
EGI
$43.3K $34.70/SF
− OpEx
−$19.5K −$15.62/SF
NOI
$23.8K $19.09/SF
Area
Orange County, CA
Vacancy
3.60%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$476,420
Cap Rate 7%
$340,300
Cap Rate 9%
$264,678
Alternative Uses
Best Use
Apartment 5plus
$340.3K
$297.8K – $397.0K
NOI $23,821 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$419.2K
$366.8K – $489.0K
NOI $29,342 @ 7.0% cap · market cap 4.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,039
Businesses Nearby
Explore this area
Business Placement
Demographics for 92660, CA
36,259
Population
17,144
Households
2.1
Avg Household Size
46
Median Age
70%
College-Educated
98%
High-School Grad
9.6 sq mi
ZIP Area
3,777
Density / Sq Mi
$154,035
Median Household Income
$91,054
Median Earnings
$3,349
Median Rent
$2,000,001
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Turn-key 2-bedroom, 2.5-bath home with central heat and air, patio yard, and covered carport on leased land.
Where is this mobile home & rv park located?
The property is located at 250 Mayflower Dr Newport Beach, CA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Designer‑finished 2‑bedroom, 2.5‑bath home with central heat and air conditioning; Large great room with high ceilings and numerous windows, plus open kitchen with custom cabinets and upgraded appliances; Primary suite with antique fireplace mantle imported from Paris, level walk‑in tile shower, and large walk‑in closet with custom storage
