215 North St · Greenport, NY 11944

$1,595,000

8 bd · 6.0 ba · 3,376 sqft · MultiFamily · 73 Days on market

Built 2019 7,841 sqft lot $472/sqft · 17% below area Est $1925k · 17% under

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Why this score? — see what drove the B+ 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
• Schools +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

A rare and exceptional offering in the heart of Greenport—one of the only duplex-style properties of its kind on the North Fork—this fully turnkey property delivers a unique combination of lifestyle, flexibility, and proven income potential. Located within Greenport Village and offering approximately 3,376 square feet of living space, this back-to-back duplex features two fully independent, two-story residences, each with its own full basement, central air conditioning, and private living areas as well as two electric panels, two meters, two propane tanks and separate basements. Built approximately 7 years ago, the property offers the advantages of newer construction, including modern systems, efficient design, and low-maintenance living. The front residence offers 4 bedrooms and 2.5 baths, highlighted by a welcoming covered front porch, fireplace, and a full basement with 8-foot ceilings—ideal for expansion, recreation, or storage. The rear residence features 3 bedrooms and 2.5 baths, a gas fireplace, and a full walk-out basement, providing excellent privacy and functionality. Outdoor features include a spacious back deck, side yard with a fire pit and a large yard, offering ample room for entertaining or relaxation. Being sold fully furnished and turnkey, the property is ready for immediate use. With a proven history of generating approximately $125,000 annually, this property presents a compelling opportunity for both end-users and investors. Ideally situated within walking distance to the vibrant village center, the Greenport Free Library, and public transportation, the property provides easy access to waterfront dining, marinas, shops, and all that the North Fork has to offer. This is more than a home—it’s a rare opportunity to own a flexible, income-producing property in one of the North Fork’s most sought-after locations.

Key facts

• Private living areas
• Covered front porch
• Newer construction

Tags

• CENTRAL AIR CONDITIONING
• PRIVATE LIVING AREAS
• NEWER CONSTRUCTION
• MODERN SYSTEMS
• LOW MAINTENANCE LIVING
• COVERED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/3.0-bath units multifamily listed at $1.59M.

Deal economics

• At list price, monthly cash flow is $13k ($155k/yr) — positive. Per door: $6k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($29k rent vs $1.59M).
• Recommended offer: $1.50M (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#217 in NY, #3,399 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, commute B+; Watch: housing C-, 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.
• Market conditions: 69 active listings in the ZIP; 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 $11k of loan paydown is wiped out by about $48k 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 $447k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($1.50M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $900k; list at $1.59M implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $1,499,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.83% ✓
• Cap rate: 16.04%
• Cash-on-cash: 34.83%
• DSCR: 2.55
• GRM: 4.6

CMA / ARV

• ARV (median comp): $1,924,569
• List price: $1,595,000
• Delta: -17.12%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 30.1%
• Equity multiple: 2.26×
• Total profit: $562,742
• Equity at exit: $237,820

10-year hold

• IRR: 37.4%
• Equity multiple: 4.46×
• Total profit: $1,547,233
• Equity at exit: $137,906

Cash invested: $446,600 (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: 9.1×

Monthly cashflow live

• Estimated rent: $29,204 medium
• Mortgage (P&I): −$8,364
• Tax from tax record: −$1,081 /mo · $12,971/yr
• Insurance: −$665
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,133
• Net cashflow: $12,895

Break-even live

Break-even rent $12,881

Max offer price $1,595,000

Occupancy floor 51%

Sensitivity live

Price	-10% $13,798	-5% $13,346	+0% $12,895	+5% $12,443	+10% $11,992
Rent	-10% $10,588	-5% $11,741	+0% $12,895	+5% $14,048	+10% $15,202
Rate	-1.0pp $13,698	-0.5pp $13,301	base $12,895	+0.5pp $12,482	+1.0pp $12,061

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	3	$29,204
Total (2 units)			$29,204

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: $398,750
• Closing costs: $47,850
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $1,595,000 Active 73 DOM
2. 2026-06-21
   days on market $1,595,000 Active 72 DOM
3. 2026-06-18
   days on market $1,595,000 Active 70 DOM
4. 2026-06-18
   price $1,595,000 Active 69 DOM
5. 2026-06-17
   days on market $1,675,000 Active 69 DOM
6. 2026-06-16
   days on market $1,675,000 Active 68 DOM
7. 2026-06-15
   days on market $1,675,000 Active 67 DOM
8. 2026-06-13
   days on market $1,675,000 Active 65 DOM
9. 2026-06-12
   days on market $1,675,000 Active 64 DOM
10. 2026-06-09
    days on market $1,675,000 Active 61 DOM
11. 2026-06-08
    days on market $1,675,000 Active 60 DOM
12. 2026-06-07
    days on market $1,675,000 Active 59 DOM
13. 2026-06-05
    days on market $1,675,000 Active 57 DOM
14. 2026-06-04
    days on market $1,675,000 Active 55 DOM
15. 2026-06-02
    days on market $1,675,000 Active 54 DOM
16. 2026-06-01
    days on market $1,675,000 Active 53 DOM
17. 2026-05-31
    days on market $1,675,000 Active 52 DOM
18. 2026-04-09
    listed $1,675,000 Active 1906-char remark

    Show marketing remark (1906 chars)

    A rare and exceptional offering in the heart of Greenport—one of the only duplex-style properties of its kind on the North Fork—this fully turnkey property delivers a unique combination of lifestyle, flexibility, and proven income potential. Located within Greenport Village and offering approximately 3,376 square feet of living space, this back-to-back duplex features two fully independent, two-story residences, each with its own full basement, central air conditioning, and private living areas as well as two electric panels, two meters, two propane tanks and separate basements. Built approximately 7 years ago, the property offers the advantages of newer construction, including modern systems, efficient design, and low-maintenance living. The front residence offers 4 bedrooms and 2.5 baths, highlighted by a welcoming covered front porch, fireplace, and a full basement with 8-foot ceilings—ideal for expansion, recreation, or storage. The rear residence features 3 bedrooms and 2.5 baths, a gas fireplace, and a full walk-out basement, providing excellent privacy and functionality. Outdoor features include a spacious back deck, side yard with a fire pit and a large yard, offering ample room for entertaining or relaxation. Being sold fully furnished and turnkey, the property is ready for immediate use. With a proven history of generating approximately $125,000 annually, this property presents a compelling opportunity for both end-users and investors. Ideally situated within walking distance to the vibrant village center, the Greenport Free Library, and public transportation, the property provides easy access to waterfront dining, marinas, shops, and all that the North Fork has to offer. This is more than a home—it’s a rare opportunity to own a flexible, income-producing property in one of the North Fork’s most sought-after locations.

19. 2020-08-12
    soldstatus $900,000
20. 1999-09-03
    soldstatus $30,000
21. 1985-06-21
    soldstatus $16,500

ⓘ 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: $12,971 · $1,081/mo
• Projected year-2 tax: $19,963 · $1,664/mo
• Expected delta: +$6,992/yr (+$583/mo · 53.9%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $350,448
• − Mortgage interest: −$89,345
• − Property taxes: −$12,971
• − Insurance: −$8,772
• − Repairs & maintenance: −$28,036
• − Management: −$28,036
• − Depreciation: −$46,400
• Taxable income: $136,888
• Est. tax owed @ 24.0%: −$32,853
• After-tax cash flow: $121,885/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

• Score: 76/100
• State rank: #217
• US rank: #3399

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenport, NY
• City population: 4,744
• 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

+10051.5% since first listed

4 events — show timeline

• 2026-04-09 Listed $1,675,000 OneKey® MLS as Distributed by MLS Grid
• 2020-08-12 Sold (Public Records) $900,000 Public Records
• 1999-09-03 Sold (Public Records) $30,000 Public Records
• 1985-06-21 Sold (Public Records) $16,500 Public Records

Property tax history

+27.8%/yr

Latest (2025): $12,971 · -2.6% YoY. Source: county tax records.