585 Dune Rd Unit 27B · Westhampton, NY 11978

$499,000

1 bd · 1.0 ba · 650 sqft · Townhouse · 120 Days on market

Built 1961 Excellent condition $768/sqft · 30% below area Est $714k · 30% under

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Why this score? — see what drove the A+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +6.1/10.0
• Condition / age +4.8/5.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0

Listing remarks

EFFORTLESS OCEANFRONT SUMMER ESCAPE Experience unbelievable ocean views and effortless coastal living in this oceanfront 1-bedroom, 1-bath co-op in desirable Westhampton Beach at The Westhampton House. Experience all there is to offer on the ocean and in Westhampton Beach Village, just moments away. Open from mid-April through mid-November to enjoy peaceful shoulder seasons, and of course, the lively summer season, highlighted by community deck parties on Memorial Day and July 4th holidays.

Key facts

• Oceanfront
• Water views
• On-site pool

Tags

• OCEANFRONT
• WATER VIEWS
• ON-SITE POOL
• DIRECT BEACH ACCESS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $499k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $6k ($75k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $499k).
• Recommended offer: $454k (9.0% below list) — sets the bar for market timing.
• Cap rate 21.5% vs local median 9.2% in Westhampton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 60/100 on livability (#969 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing C-, amenities F, commute F.
• Remsenburg-Speonk Union Free School District (suburban): math 60% / reading 40% proficiency, ranked #389 of 755 in NY (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Remsenburg-Speonk Elementary School (math 52% / reading 62%, grade C+, #842 of 2,108 statewide, top 43%, 122 students, 36% FRL) — zoned schools average 36% FRL vs 10% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 129 active listings in the ZIP; high-income renter base; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• At $12,353/mo this rent would consume 118% of the median local household income ($125k/yr) (locally 19% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $53k of equity ($3k loan paydown + $50k appreciation (10.0% local appreciation)).
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $140k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$86k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($454k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $454,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.48% ✓
• Cap rate: 21.47%
• Cash-on-cash: 54.20%
• DSCR: 3.41
• GRM: 3.4

CMA / ARV

• ARV (median comp): $713,629
• List price: $499,000
• Delta: -30.08%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
459 Dune Rd Unit 7B	0.90mi	1/1.0	650 (0%)	16mo	$478,000	$735	52
459 Dune Rd Unit 3B	0.90mi	1/1.0	650 (0%)	25mo	$505,000	$777	45
473 Dune Rd Unit 17B	0.81mi	1/1.5	550 (-15%)	12mo	$725,000	$1,318	28
473 Dune Rd Unit 6B	0.81mi	1/1.5	550 (-15%)	13mo	$735,000	$1,336	27
473 Dune Rd Unit 5B	0.81mi	1/1.0	535 (-18%)	22mo	$750,000	$1,402	22

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 66.7%
• Equity multiple: 5.79×
• Total profit: $669,676
• Equity at exit: $449,539

10-year hold

• IRR: 60.3%
• Equity multiple: 12.88×
• Total profit: $1,659,804
• Equity at exit: $969,447

Cash invested: $139,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

Active competition Active MLS

• For sale now: 2 active
• Median asking: $573,995 ($882/sqft)
• Median days on market: 26 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +24.4% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 11978

• Home prices YoY: 2.9%
• Active inventory: 129
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $12,353 medium
• Mortgage (P&I): −$2,617
• Tax est. 1.5%: −$624 /mo · $7,485/yr
• Insurance: −$208
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,594
• Net cashflow: $6,244

Break-even live

Break-even rent $4,449

Max offer price $499,000

Occupancy floor 44%

Sensitivity live

Price	-10% $6,589	-5% $6,416	+0% $6,244	+5% $6,072	+10% $5,899
Rent	-10% $5,268	-5% $5,756	+0% $6,244	+5% $6,732	+10% $7,220
Rate	-1.0pp $6,495	-0.5pp $6,371	base $6,244	+0.5pp $6,115	+1.0pp $5,983

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $124,750
• Closing costs: $14,970
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-08-08
   days on market $499,000 Active 120 DOM
2. 2026-08-06
   days on market $499,000 Active 118 DOM
3. 2026-08-05
   days on market $499,000 Active 117 DOM
4. 2026-08-04
   days on market $499,000 Active 116 DOM
5. 2026-08-03
   days on market $499,000 Active 115 DOM
6. 2026-07-31
   days on market $499,000 Active 112 DOM
7. 2026-07-30
   days on market $499,000 Active 110 DOM
8. 2026-07-28
   days on market $499,000 Active 109 DOM
9. 2026-07-26
   days on market $499,000 Active 107 DOM
10. 2026-07-24
    days on market $499,000 Active 105 DOM
11. 2026-07-23
    days on market $499,000 Active 104 DOM
12. 2026-07-22
    days on market $499,000 Active 103 DOM
13. 2026-07-21
    days on market $499,000 Active 102 DOM
14. 2026-07-20
    days on market $499,000 Active 101 DOM
15. 2026-07-18
    days on market $499,000 Active 99 DOM
16. 2026-07-18
    days on market $499,000 Active 98 DOM
17. 2026-07-16
    days on market $499,000 Active 97 DOM
18. 2026-07-15
    days on market $499,000 Active 96 DOM
19. 2026-07-14
    days on market $499,000 Active 95 DOM
20. 2026-07-13
    days on market $499,000 Active 94 DOM
21. 2026-07-13
    days on market $499,000 Active 93 DOM
22. 2026-07-11
    days on market $499,000 Active 92 DOM
23. 2026-07-10
    days on market $499,000 Active 91 DOM
24. 2026-07-09
    pricedays on market $499,000 Active 90 DOM
25. 2026-07-07
    days on market $559,000 Active 88 DOM
26. 2026-07-06
    days on market $559,000 Active 87 DOM
27. 2026-07-06
    days on market $559,000 Active 86 DOM
28. 2026-07-05
    days on market $559,000 Active 85 DOM
29. 2026-07-03
    days on market $559,000 Active 84 DOM
30. 2026-07-02
    days on market $559,000 Active 83 DOM
31. 2026-07-01
    days on market $559,000 Active 82 DOM
32. 2026-06-30
    days on market $559,000 Active 81 DOM
33. 2026-06-29
    days on market $559,000 Active 80 DOM
34. 2026-06-28
    days on market $559,000 Active 79 DOM
35. 2026-06-27
    days on market $559,000 Active 78 DOM
36. 2026-06-26
    days on market $559,000 Active 77 DOM
37. 2026-06-24
    days on market $559,000 Active 75 DOM
38. 2026-06-22
    days on market $559,000 Active 73 DOM
39. 2026-06-21
    days on market $559,000 Active 72 DOM
40. 2026-06-18
    days on market $559,000 Active 69 DOM
41. 2026-06-17
    days on market $559,000 Active 68 DOM
42. 2026-06-16
    days on market $559,000 Active 67 DOM
43. 2026-06-15
    days on market $559,000 Active 66 DOM
44. 2026-06-13
    days on market $559,000 Active 64 DOM
45. 2026-06-13
    days on market $559,000 Active 63 DOM
46. 2026-06-09
    days on market $559,000 Active 60 DOM
47. 2026-06-08
    days on market $559,000 Active 59 DOM
48. 2026-06-07
    days on market $559,000 Active 58 DOM
49. 2026-06-04
    days on market $559,000 Active 55 DOM
50. 2026-06-03
    days on market $559,000 Active 54 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥90°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $148,236
• − Mortgage interest: −$27,952
• − Property taxes: −$7,485
• − Insurance: −$3,292
• − Repairs & maintenance: −$11,859
• − Management: −$11,859
• − Depreciation: −$14,516
• Taxable income: $71,273
• Est. tax owed @ 24.0%: −$17,105
• After-tax cash flow: $57,822/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 13 photos

Excellent 95/100 None rehab

This oceanfront 1-bedroom, 1-bath co-op in Westhampton Beach is in excellent condition with no visible repairs or maintenance needed. The property's location, amenities, and stunning water views make it a great investment opportunity.

Value-add opportunities

• Both Painting the exterior walls and siding — Painting the exterior will enhance the curb appeal and increase the property's resale and rental value. ↑
• Both Updating the flooring — Updating the flooring will improve the overall aesthetic and functionality of the property, increasing its resale and rental value. ↑
• Both Upgrading the HVAC system — Upgrading the HVAC system will improve the comfort and energy efficiency of the property, increasing its resale and rental value. ↑

C Composite school gradezoned avg 61/100

Zoned Schools

Elementary Remsenburg-Speonk Elementary School C+ NY #842/2,108 Nat'l #8,534/41,679 Middle Westhampton Middle School B+ NY #136/729 Nat'l #1,545/14,009 High Eastport-South Manor Junior Senior High School B- NY #776/1,100 Nat'l #2,821/17,239

Schools (NCES district)

• District: Remsenburg-Speonk Union Free School District
• NCES district ID: 3624420
• Math proficiency: 60% ▲ 10.00%
• Reading proficiency: 40% ▼ -10.00%
• Median HH income: $79,972
• Composite: 47.7/100
• National rank: #4915
• State rank: #389 of 755 in NY

C Composite livability gradescore 60/100

Livability — Westhampton

• Score: 60/100
• State rank: #969
• US rank: #18972

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing C- Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westhampton, NY
• County: Suffolk County · 1,505,262 people
• City population: 2,843
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 4,705
• Household income: $125,179
• Rent vs Own: 11.8% rent · 88.2% own
• Severe rent burden: 19% of renters

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Population outlook (Suffolk County) Hauer SSP2

• Today (2025): 1,505,262 people
• By 2030: 1,498,318 · -0.5%
• By 2040: 1,471,101 · -2.3%
• By 2050: 1,424,848 · -5.3%
• By 2075: 1,337,157 · -11.2%
• By 2100: 1,217,720 · -19.1%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Two or more races 14% Hispanic / Latino 11% Black 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Romanian 7% Scotch-Irish 2% Italian 2%
• Foreign-born: 14% · Canada, Jamaica, China
• Languages at home: 84% English-only · Spanish 10% Other Indo-European 2% Russian/Polish/Slavic 1%

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Political lean MEDSL · Suffolk

• 2024 margin: Lean R (+10.0) · D 45.0% · R 55.0%
• 2008→2024 swing: -16.0pp toward R · 2008: 6.0pp · 2024: -10.0pp
• All cycles: 2024: R+10.0 2020: R+0.0 2016: R+8.2 2012: D+2.9 2008: D+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 13.02%
• Current HPI: 460.3964
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

1 event — show timeline

• 2026-04-10 Listed $559,000 OneKey® MLS as Distributed by MLS Grid