40 Vernon
About This Property
Set on an expansive 11,000 sq. ft. lot, the approximately 3,000 sq. ft. floor plan features four bedrooms and three-and-a-half bathrooms, thoughtfully arranged to maximize comfort and ultimate privacy. Inside, new washed oak flooring, soaring solid wood doors, and premium finishes create a refined coastal aesthetic. The gourmet kitchen has been completely reimagined with Sub-Zero and Viking appliances, custom cabinetry, stone counters, and designer fixtures, while all bathrooms-including the spa-like primary retreat-have been luxuriously remodeled to reflect modern elegance.
Every window and French door has been replaced with Jeld-Wen Windows & Doors, offering both style and efficiency, and new faucets have been installed throughout. A long, curved private driveway leads to a two-car garage and provides ample parking for guests. The beautifully landscaped backyard, framed by mature vines, trees, and roses, offers tranquil views, including amazing canyon and city light views, and a rare sense of seclusion, creating the perfect setting for indoor-outdoor living.
This is a rare opportunity to own a fully updated single-level home in one of Newport Coast's most desirable neighborhoods-just minutes from world-class beaches, premier shopping, fine dining, and award-winning schools.
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Cap Rate Calculator
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 23, 2025 | Sold | ||
| Sold | |||
| Sep 29, 2025 | In contract | - | |
| In contract | |||
| Sep 19, 2025 | Price Decreased |
$5,295,000
↓ $200K
(3.6%) | |
| Price Decreased | |||
| Aug 31, 2025 | Listed by Compass | $5,495,000 | |
| Listed by Compass | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017