449 M Street, Newport Beach, California 92661, Newport Beach, 92661 - 3 bed, 2 bath
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449 M Street
Newport Beach, California 92661
ACTIVE UNDER CONTRACT
CONDITION: POOR
3Beds
2Baths
1,174Sq Ft
2,765Lot Size
Property Price
LIST PRICE$3,395,000
EST. MARKET VALUE
$3,471,494
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $3,395,000—positioned well below the $3,471,494 Fair Market Value by 2%. This valuation gap offers $76,494 in Instant Equity for buyers. With a Condition Rating of 5, the home requires significant modernization, yet the generous corner lot provides exceptional potential for expansion. Located in the prestigious Peninsula Point near Newport Elementary (9/10), this is a prime acquisition for Fix-and-Flip Investors or Owner-Occupants seeking a custom coastal rebuild.
Estimated Market Value
$3,471,494
Based on Realkey algorithm analyzing recent comparable sales in Newport Beach.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 449 M Street Subject 3 bd · 2 ba · 1,174 sqft · $2,957 | $3,395,000* List Price | 3 | 2 | 1,174 | $2,957 | - |
A 1713 Miramar Drive Sold 3 bd · 2 ba · 1,152 sqft · $3,082 · 0.2 mi | $3,550,000 | 3 | 2 | 1,152 | $3,082 | 0.2 mi |
B 1574 E Ocean Sold 2 bd · 2 ba · 1,031 sqft · $3,298 · 0.3 mi | $3,400,000 | 2 | 2 | 1,031 | $3,298 | 0.3 mi |
C 2012 E Ocean Boulevard Sold 4 bd · 3 ba · 1,643 sqft · $2,222 · 0.2 mi | $3,650,000 | 4 | 3 | 1,643 | $2,222 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1951 and held by the same family since 1986, this property is significantly dated with original parquet flooring and wood paneling. The listing description emphasizes the corner lot's potential to 'update, expand, or create' a new home, indicating the current structure requires a total rehab to meet modern standards for the area.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Newport Elementary School (9/10).
- Prime Coastal Location
Situated in the prestigious Balboa Peninsula Point, the property is just steps from Bay Beach and its private HOA dock, offering an elite coastal lifestyle with easy access to both bay and ocean.
- Corner Lot Potential
The generous corner lot provides added frontage and exceptional flexibility for a custom rebuild or significant expansion, a rare find in this high-demand neighborhood.
CONSRISKS & DEFICIENCIES
- High Price per Square Foot
At a list price of $3.395M for only 1,174 square feet of living space, the value is almost entirely in the land, making it a significant investment for the size of the current structure.
- Dated Infrastructure
Built in 1951 and held by the same family for decades, the home likely requires substantial modernization or a complete renovation to meet contemporary luxury standards.
About 449 M Street
A rare opportunity in Peninsula Point, 449 M Street sits on a generous corner lot just steps from Bay Beach and its dock, an amenity of the Peninsula Point Homeowners Association. Both the bay and ocean beaches are close by, and M Street Park is just down the street, perfect for walking the dog or enjoying the outdoors. Owned by the same family since 1986, this charming 3-bedroom, 2-bath home offers 1,174 square feet with spacious bedrooms, built-in storage, a brick fireplace, private front patio, and attached two-car garage. The corner lot is a standout, offering added frontage and exceptional potential to update, expand, or create a coastal home of your own.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1951
- Lot Size
- 2,765 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Newport Beach Unified Schools
Newport Elementary School
Grades PK-6 • 2.1 mi
9/10
Horace Ensign Intermediate School
Grades 7-8 • 2.3 mi
7/10
Newport Harbor High School
Grades 9-12 • 2.4 mi
7/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 2.0 | 3.5 |
| Square foot | 1,174 | 2,652.074 |
| Lot Size | 2,765 | 6,056.485 |
| Price | $3.40M | $4.19M |
| Price per sq ft | $2.9K | $1.6K |
| Built year | 1951 | 1972 |
| HOA | $0 | $463 |
| Days on market | 24 | 70 |
Pricing History
Listed for Sale
Sep 30, 2026
$3,395,000
Initial Listing