380 Homestead Way · Greenport West, NY 11944

$1,149,900

3 bd · 2.0 ba · 1,650 sqft · SingleFamily · 250 Days on market

Built 2017 0.50 ac lot $697/sqft · 15% above area Est $1003k · 15% over

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Why this score? — see what drove the C 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 +29.1/30.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• Schools +4.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.9/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brand New 3/2 Ranch In Gpo, Deeded Eastern Stirling Shores Beach, Town A Mile Away . Nearby Wineries. Year Round Or Investment Property On The North Fork ! Room For Pool, Fire Pit And Deck. All The North Fork Has To Offer Right In Greenport .Priced To Sell * True Taxes Cannot Be Determined Until Purchase., Additional information: Appearance:New Constr,Interior Features:Lr/Dr

Key facts

• Gourmet kitchen
• Updated bathrooms
• Cozy fireplace

Tags

• GOURMET KITCHEN
• GRANITE COUNTERTOPS
• SUBWAY TILE BACKSPLASH
• COZY FIREPLACE
• HARDWOOD FLOORS
• UPDATED BATHROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $1.15M.

Deal economics

• At list price, monthly cash flow is $4k ($48k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $1.15M).
• Recommended offer: $1.01M (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 8.1% in Greenport West — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 58/100 on livability (#1,073 in NY) — a working-class tenant base; expect higher turnover. Strengths: crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Greenport Union Free School District (town): math 55% / reading 45% proficiency, ranked #450 of 755 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Greenport Elementary School (math 47% / reading 62%, grade C, #908 of 2,108 statewide, top 46%, 339 students, 61% FRL); Greenport High School (math 52% / reading 54%, grade C-, #934 of 1,100 statewide, top 86%, 356 students, 63% FRL).
• Market conditions: 69 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $8k of loan paydown is wiped out by about $34k of value loss. Plan a longer hold.
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $322k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 250 days — a 12% lower offer ($1.01M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $760k; list at $1.15M implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,011,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 250 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.24% ✓
• Cap rate: 10.43%
• Cash-on-cash: 14.79%
• DSCR: 1.66
• GRM: 6.7

CMA / ARV

• ARV (median comp): $1,003,282
• List price: $1,149,900
• Delta: 14.61%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
795 Westwood Ln	0.18mi	3/2.0	1,500 (-9%)	10mo	$1,230,000	$820	68
1605 Washington Ave	0.33mi	4/3.0 (+1)	1,740 (+6%)	6mo	$1,295,000	$744	61
3400 & 3500 Sound Dr	0.36mi	3/2.0	1,500 (-9%)	8mo	$4,600,000	$3,067	61
57 (aka 400) Wilmarth Ave	0.42mi	3/1.0	1,500 (-9%)	4mo	$585,000	$390	58
1295 Washington Ave	0.38mi	2/1.5 (-1)	1,500 (-9%)	3mo	$630,000	$420	57
216 North St	0.73mi	3/3.5	1,724 (+4%)	0mo	$999,000	$579	52
16 Washington Ave	0.56mi	3/1.5	1,550 (-6%)	12mo	$979,000	$632	52

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

Projected returns pro-forma

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

5-year hold

• IRR: 5.3%
• Equity multiple: 1.21×
• Total profit: $66,277
• Equity at exit: $171,454

10-year hold

• IRR: 14.7%
• Equity multiple: 2.19×
• Total profit: $382,546
• Equity at exit: $99,422

Cash invested: $321,972 (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 11944

• Home prices YoY: -23.7%
• Active inventory: 69
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $14,310 high
• Mortgage (P&I): −$6,030
• Tax from tax record: −$827 /mo · $9,920/yr
• Insurance: −$479
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,005
• Net cashflow: $3,969

Break-even live

Break-even rent $9,286

Max offer price $1,149,900

Occupancy floor 67%

Sensitivity live

Price	-10% $4,620	-5% $4,294	+0% $3,969	+5% $3,643	+10% $3,318
Rent	-10% $2,838	-5% $3,403	+0% $3,969	+5% $4,534	+10% $5,099
Rate	-1.0pp $4,548	-0.5pp $4,261	base $3,969	+0.5pp $3,671	+1.0pp $3,368

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: $287,475
• Closing costs: $34,497
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
485 Sutton Pl Greenport, NY	4.0	2.5	2026	$20,000	$9.87	45d	1	0.42mi
744 Main St Unit 2 Greenport, NY	2.0	2.0	1200	$3,400	$2.83	45d	1	0.74mi
312 5th Ave Greenport, NY	4.0	2.0	1900	$12,000	$6.32	45d	1	0.79mi
248 5th Ave Greenport, NY	2.0	1.0	1306	$3,500	$2.68	45d	1	0.82mi
123 Sterling Ave #2 Greenport, NY	3.0	3.0	1528	$45,000	$29.45	45d	1	1.03mi
517 Flint St Greenport, NY	2.0	1.0	1100	$3,500	$3.18	45d	1	1.07mi
237 6th St Greenport, NY	2.0	2.5	1452	$14,000	$9.64	13d	1	1.11mi
134 6th St Greenport, NY	3.0	2.0	1560	$18,500	$11.86	20d	1	1.27mi
131 6th St Unit G Greenport, NY	3.0	2.5	2238	$5,000	$2.23	26d	1	1.28mi
8 Oyster Pt Greenport, NY	2.0	2.0	1190	$5,500	$4.62	5d	1	1.39mi

Listing history 24 events

1. 2026-06-21
   days on market $1,149,900 Active 250 DOM
2. 2026-06-21
   days on market $1,149,900 Active 249 DOM
3. 2026-06-18
   days on market $1,149,900 Active 247 DOM
4. 2026-06-17
   days on market $1,149,900 Active 246 DOM
5. 2026-06-16
   days on market $1,149,900 Active 245 DOM
6. 2026-06-15
   days on market $1,149,900 Active 244 DOM
7. 2026-06-13
   days on market $1,149,900 Active 242 DOM
8. 2026-06-12
   days on market $1,149,900 Active 241 DOM
9. 2026-06-09
   days on market $1,149,900 Active 238 DOM
10. 2026-06-08
    days on market $1,149,900 Active 237 DOM
11. 2026-06-07
    days on market $1,149,900 Active 236 DOM
12. 2026-06-05
    days on market $1,149,900 Active 234 DOM
13. 2026-06-04
    days on market $1,149,900 Active 232 DOM
14. 2026-06-02
    days on market $1,149,900 Active 231 DOM
15. 2026-06-01
    days on market $1,149,900 Active 230 DOM
16. 2026-05-31
    days on market $1,149,900 Active 229 DOM
17. 2025-10-06
    listed $1,200,000 Active
18. 2021-10-22
    soldstatus $760,000
19. 2017-12-07
    soldstatus $522,500 Closed 380-char remark

    Show marketing remark (380 chars)

    Brand New 3/2 Ranch In Gpo, Deeded Eastern Stirling Shores Beach, Town A Mile Away . Nearby Wineries. Year Round Or Investment Property On The North Fork ! Room For Pool, Fire Pit And Deck. All The North Fork Has To Offer Right In Greenport .Priced To Sell * True Taxes Cannot Be Determined Until Purchase., Additional information: Appearance:New Constr,Interior Features:Lr/Dr

20. 2017-10-07
    status Under Contract 380-char remark

    Show marketing remark (380 chars)

    Brand New 3/2 Ranch In Gpo, Deeded Eastern Stirling Shores Beach, Town A Mile Away . Nearby Wineries. Year Round Or Investment Property On The North Fork ! Room For Pool, Fire Pit And Deck. All The North Fork Has To Offer Right In Greenport .Priced To Sell * True Taxes Cannot Be Determined Until Purchase., Additional information: Appearance:New Constr,Interior Features:Lr/Dr

21. 2017-08-21
    price $534,000 380-char remark

    Show marketing remark (380 chars)

    Brand New 3/2 Ranch In Gpo, Deeded Eastern Stirling Shores Beach, Town A Mile Away . Nearby Wineries. Year Round Or Investment Property On The North Fork ! Room For Pool, Fire Pit And Deck. All The North Fork Has To Offer Right In Greenport .Priced To Sell * True Taxes Cannot Be Determined Until Purchase., Additional information: Appearance:New Constr,Interior Features:Lr/Dr

22. 2017-06-15
    price $549,000 380-char remark

    Show marketing remark (380 chars)

    Brand New 3/2 Ranch In Gpo, Deeded Eastern Stirling Shores Beach, Town A Mile Away . Nearby Wineries. Year Round Or Investment Property On The North Fork ! Room For Pool, Fire Pit And Deck. All The North Fork Has To Offer Right In Greenport .Priced To Sell * True Taxes Cannot Be Determined Until Purchase., Additional information: Appearance:New Constr,Interior Features:Lr/Dr

23. 2017-06-05
    price $574,000 380-char remark

    Show marketing remark (380 chars)

    Brand New 3/2 Ranch In Gpo, Deeded Eastern Stirling Shores Beach, Town A Mile Away . Nearby Wineries. Year Round Or Investment Property On The North Fork ! Room For Pool, Fire Pit And Deck. All The North Fork Has To Offer Right In Greenport .Priced To Sell * True Taxes Cannot Be Determined Until Purchase., Additional information: Appearance:New Constr,Interior Features:Lr/Dr

24. 2017-05-04
    listed $599,000 New 380-char remark

    Show marketing remark (380 chars)

    Brand New 3/2 Ranch In Gpo, Deeded Eastern Stirling Shores Beach, Town A Mile Away . Nearby Wineries. Year Round Or Investment Property On The North Fork ! Room For Pool, Fire Pit And Deck. All The North Fork Has To Offer Right In Greenport .Priced To Sell * True Taxes Cannot Be Determined Until Purchase., Additional information: Appearance:New Constr,Interior Features:Lr/Dr

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $9,920 · $827/mo
• Projected year-2 tax: $14,677 · $1,223/mo
• Expected delta: +$4,757/yr (+$396/mo · 48.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $171,717
• − Mortgage interest: −$64,412
• − Property taxes: −$9,920
• − Insurance: −$5,750
• − Repairs & maintenance: −$13,737
• − Management: −$13,737
• − Depreciation: −$33,452
• Taxable income: $30,709
• Est. tax owed @ 24.0%: −$7,370
• After-tax cash flow: $40,254/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.

Schools (NCES district)

• District: Greenport Union Free School District
• NCES district ID: 3612840
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $54,490
• Composite: 45.25/100
• National rank: #5759
• State rank: #450 of 755 in NY

Livability — Greenport West

• Score: 58/100
• State rank: #1073
• US rank: #21520

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: Greenport West, NY
• Population (ZIP): 4,744

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 23% Two or more races 6% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 6% Lithuanian 2% Subsaharan African 2%
• Foreign-born: 19% · Canada, China
• Languages at home: 69% English-only · Spanish 22% German/W. Germanic 3% Russian/Polish/Slavic 2%

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: ▼ -143.97%
• Current HPI: 462.3431
• Rent YoY: —
• Metro: —
• 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

+100.3% since first listed

8 events — show timeline

• 2025-10-06 Listed $1,200,000 OneKey® MLS as Distributed by MLS Grid
• 2021-10-22 Sold (Public Records) $760,000 Public Records
• 2017-12-07 Sold (MLS) $522,500 OneKey® MLS as Distributed by MLS Grid
• 2017-10-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2017-08-21 Price Changed $534,000 OneKey® MLS as Distributed by MLS Grid
• 2017-06-15 Price Changed $549,000 OneKey® MLS as Distributed by MLS Grid
• 2017-06-05 Price Changed $574,000 OneKey® MLS as Distributed by MLS Grid
• 2017-05-04 Listed $599,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+16.5%/yr

Latest (2025): $9,920 · +0.0% YoY. Source: county tax records.