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331 Walnut Street
About This Property
At its center, a remodeled kitchen features quartz countertops, an expansive island, custom cabinetry, and a professional six-burner gas range. The kitchen opens directly into the family room and dining area beneath soaring ceilings appointed with crown molding, wainscoting, and skylights that invite coastal light through every hour of the day. A main-level bedroom suite provides ideal accommodations for guests, extended family, or multigenerational living.
Upstairs, the primary suite serves as a private retreat complete with a soaking tub, and a separate shower. Three additional bedroom suites each offer remodeled baths, while an expansive bonus room, and secondary staircase provide a level of flexibility rarely found within Newport Shores.
The home is designed to embrace Newport Beach's year-round coastal climate. Multiple outdoor living areas include a covered patio, open terrace, and a rooftop deck capturing panoramic views, coastal breezes, sunsets, and city lights. Additional appointments include double-pane windows, custom window coverings, and an attached two-car garage with guest parking nearby. Residents of Newport Shores enjoy a unique access to an exceptional collection of community amenities, including a heated pool, clubhouse, recreation room, pickleball and tennis courts, sport courts, playground, barbecue and picnic areas, and canal access for paddleboarding, kayaking, fishing, and a variety of waterfront activities.
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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 |
|---|---|---|---|
| Oct 26, 2026 | Sold | ||
| Sold | |||
| Sep 9, 2026 | In contract | - | |
| In contract | |||
| Jul 23, 2026 | Price Decreased |
$2,850,000
↓ $100K
(3.4%) | |
| Price Decreased | |||
| Jun 5, 2026 | Listed by Pacific Sotheby's International Realty | $2,950,000 | |
| Listed by Pacific Sotheby's International Realty | |||
| Oct 21, 2023 | No longer available | - | |
| No longer available | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017