585 Dune Rd Unit 27B · Westhampton, NY 11978

$559,000

1 bd · 1.0 ba · 650 sqft · Condo · 69 Days on market

Built 1961 Excellent condition $860/sqft · 23% below area Est $726k · 23% 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 +4.8/10.0
• Condition / age +4.8/5.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

Enjoy 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. Westhampton Village offers great shopping, plenty of restaurants for dining and great coffee shops too! This seasonal residence boasts stunning water views with a bright, comfortable layout. This place that accommodates 6 people could be your own get away! Residents enjoy a large sunny swimming pool and direct beach access which are both protected by lifeguards. There is plenty of room on the poolside deck for cooking your favorite outdoor meals and enjoying it with friends. This special unit is available furnished if desired. Make this the perfect summer retreat or investment in a prime oceanfront location.

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 condo listed at $559k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $7k ($79k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $559k).
• Recommended offer: $525k (6.0% below list) — sets the bar for market timing.
• Cap rate 20.5% vs local median 9.0% 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-, schools D+, amenities 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.
• Market conditions: 112 active listings in the ZIP; high-income renter base; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• At $13,253/mo this rent would consume 127% of the median local household income ($125k/yr) (locally 43% 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 $60k of equity ($4k loan paydown + $56k 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 $157k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$96k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($525k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $525,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.37% ✓
• Cap rate: 20.48%
• Cash-on-cash: 50.65%
• DSCR: 3.25
• GRM: 3.5

CMA / ARV

• ARV (median comp): $726,108
• List price: $559,000
• Delta: -23.01%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 64.2%
• Equity multiple: 5.63×
• Total profit: $725,433
• Equity at exit: $503,591

10-year hold

• IRR: 57.7%
• Equity multiple: 12.54×
• Total profit: $1,805,775
• Equity at exit: $1,086,014

Cash invested: $156,520 (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 →

ZIP-level market 11978

• Home prices YoY: 2.9%
• Active inventory: 112
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $13,253 medium
• Mortgage (P&I): −$2,931
• Tax est. 1.5%: −$699 /mo · $8,385/yr
• Insurance: −$233
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,783
• Net cashflow: $6,607

Break-even live

Break-even rent $4,890

Max offer price $559,000

Occupancy floor 45%

Sensitivity live

Price	-10% $6,993	-5% $6,800	+0% $6,607	+5% $6,414	+10% $6,220
Rent	-10% $5,560	-5% $6,083	+0% $6,607	+5% $7,130	+10% $7,654
Rate	-1.0pp $6,888	-0.5pp $6,749	base $6,607	+0.5pp $6,462	+1.0pp $6,315

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: $139,750
• Closing costs: $16,770
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $559,000 Active 69 DOM
2. 2026-06-17
   days on market $559,000 Active 68 DOM
3. 2026-06-16
   days on market $559,000 Active 67 DOM
4. 2026-06-15
   days on market $559,000 Active 66 DOM
5. 2026-06-13
   days on market $559,000 Active 64 DOM
6. 2026-06-13
   days on market $559,000 Active 63 DOM
7. 2026-06-09
   days on market $559,000 Active 60 DOM
8. 2026-06-08
   days on market $559,000 Active 59 DOM
9. 2026-06-07
   days on market $559,000 Active 58 DOM
10. 2026-06-04
    days on market $559,000 Active 55 DOM
11. 2026-06-03
    days on market $559,000 Active 54 DOM
12. 2026-06-02
    days on market $559,000 Active 53 DOM
13. 2026-06-01
    days on market $559,000 Active 52 DOM
14. 2026-05-31
    days on market $559,000 Active 51 DOM
15. 2026-04-10
    listed $559,000 Active 827-char remark

    Show marketing remark (827 chars)

    Enjoy 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. Westhampton Village offers great shopping, plenty of restaurants for dining and great coffee shops too! This seasonal residence boasts stunning water views with a bright, comfortable layout. This place that accommodates 6 people could be your own get away! Residents enjoy a large sunny swimming pool and direct beach access which are both protected by lifeguards. There is plenty of room on the poolside deck for cooking your favorite outdoor meals and enjoying it with friends. This special unit is available furnished if desired. Make this the perfect summer retreat or investment in a prime oceanfront location.

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 56% 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: $159,036
• − Mortgage interest: −$31,313
• − Property taxes: −$8,385
• − Insurance: −$2,795
• − Repairs & maintenance: −$12,723
• − Management: −$12,723
• − Depreciation: −$16,262
• Taxable income: $74,836
• Est. tax owed @ 24.0%: −$17,961
• After-tax cash flow: $61,320/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.

Renovation cost estimate screening

Value-add ROI direction

• 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. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

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 · 679,920 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: 43.0

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%

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%

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

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