295 Mesa Drive
About This Property
295 Mesa Drive is a charming single-story home situated on a large 7,200+ square foot lot, close to the back bay hiking trails, across from the Santa Ana Country Club and walking distance to Irvine Ranch Market. It has been stylishly remodeled, and blends original classic features with trendy new finishes to create a chic abode. The living room has a cozy fireplace and vaulted ceiling, and opens to the remodeled kitchen and light-filled dining area. There are three large bedrooms and two bathrooms that have been nicely remodeled with finishes such as marble, honeycomb tiled shower floors, custom tile flooring, and quartz countertops. Creature comforts include central heat and air-conditioning, ceiling fans in all bedrooms, shutters on windows and hardwood floors throughout. A true extension of the living space, the backyard has been transformed into a complete entertainer's paradise. There is extensive deck space with an outdoor dining area, a sport court, Large Tuff Shed, built-in spa and barbecue, and a cozy fire pit with seating. There is a full block wall surrounding the property, it is perfect for pets and very private. Two Car Garage with washer, dryer, refrigerator and Tesla Charger. This property provides plenty of room should an addition to the home or an ADU be a buyer consideration. Eastside Costa Mesa continues to be one of the most sought after neighborhoods in Orange County.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jan 16, 2025 | Sold | ||
| Sold | |||
| Jan 5, 2025 | In contract | - | |
| In contract | |||
| Dec 10, 2024 | Price Decreased |
$1,775,000
↓ $49K
(2.7%) | |
| Price Decreased | |||
| Oct 7, 2024 | Relisted | $1,824,000 | |
| Relisted | |||
| Oct 6, 2024 | No longer available | - | |
| No longer available | |||
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About Costa Mesa
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017