2453 B Union Blvd Unit 15A · Islip, NY 11751

$189,999

1 bd · 1.0 ba · 600 sqft · Condo · 258 Days on market

Built 1970 Fair condition $317/sqft · 28% below area Est $265k · 28% under $1094/mo HOA · 41% of rent ↓ 5% since listing

---

Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• 1% rule +9.0/10.0
• Cash flow +6.7/30.0
• Schools +6.6/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• DSCR +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover your new beginning in the heart of Islip! This spacious 1-bedroom co-op is a fantastic opportunity to create the home you've always wanted. With just a little TLC, you can transform this bright, open-concept unit into your perfect sanctuary. The home features a kitchen with hardwood cabinets, a large living room that can also serve as a dining room or den, and a light and bright bathroom with a convenient linen closet. Enjoy the peace of mind that comes with an intercom system for secure access. But the lifestyle doesn't stop at your front door! This vibrant community is packed with incredible amenities. You'll have access to a refreshing in-ground pool, a state-of-the-art gym, convenient on-site laundry, and a spacious clubhouse perfect for gatherings. Plus, it's pet-friendly and includes two registered parking spaces. Conveniently Located - Close Ferries to Fire Island, LIRR, Transportation, Shopping, and Easy Commute to NYC. *Photos have been virtually staged to illustrate the property’s potential after renovation*.

Key facts

• Hardwood cabinets
• Linen closet
• Large living room

Tags

• EAT-IN KITCHEN
• HARDWOOD CABINETS
• LARGE LIVING ROOM
• LIGHT AND BRIGHT BATHROOM
• LINEN CLOSET
• INTERCOM SYSTEM

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $190k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-301 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (22.9% below list).
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $146k (22.9% below list) — sets the bar for cash-flow.
• Cap rate 4.4% vs local median 3.0% in Islip — 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 83/100 on livability (#59 in NY, #878 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• Islip Union Free School District (suburban): math 52% / reading 67% proficiency, ranked #186 of 590 in NY (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Wing Elementary School (379 students, 35% FRL); Islip Middle School (math 32% / reading 52%, grade D-, #379 of 729 statewide, top 54%, 641 students, 37% FRL); Islip High School (math 88% / reading 93%, grade A+, #231 of 1,100 statewide, top 21%, 892 students, 33% FRL) — zoned schools average 35% FRL vs 20% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 134 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 258 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 41% of rent.

Recommended offer $146,414 (22.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 258 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 1.40% ✓
• Cap rate: 4.39%
• Cash-on-cash: -6.79%
• DSCR: 0.70
• GRM: 5.9

CMA / ARV

• ARV (median comp): $265,000
• List price: $189,999
• Delta: -28.30%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
53 Bayview Ave	1.03mi	2/1.0 (+1)	600 (0%)	12mo	$390,000	$650	50
2433 Union Blvd Unit 4B	0.89mi	1/1.0	642 (+7%)	8mo	$209,000	$326	47
41 Arch Ln Unit 2B	0.87mi	1/1.0	657 (+10%)	4mo	$285,000	$434	46
2445 Union Blvd Unit 5B	0.79mi	1/1.0	646 (+8%)	8mo	$195,000	$302	46
20 Toehee Pl Unit 2B	0.92mi	1/1.0	657 (+10%)	5mo	$248,000	$377	45
109 Cardinal Ln Unit 2A	0.93mi	1/1.0	657 (+10%)	6mo	$265,000	$403	44
2453 Union Blvd Unit 36B	0.72mi	1/1.0	650 (+8%)	11mo	$240,000	$369	44
81 Finch Unit 2B	0.88mi	1/1.0	657 (+10%)	7mo	$275,000	$419	43
21 Arch Ln Unit 1A	0.87mi	1/1.0	657 (+10%)	9mo	$290,000	$441	42
5 Wall St	1.35mi	2/1.0 (+1)	700 (+17%)	3mo	$495,000	$707	32
2413 Union Blvd Unit 5B	0.84mi	1/1.0	700 (+17%)	13mo	$215,000	$307	29
128 Cardinal Ln #128	0.96mi	2/1.5 (+1)	745 (+24%)	8mo	$365,000	$490	26

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: -27.5%
• Equity multiple: 0.07×
• Total profit: $-49,260
• Equity at exit: $28,329

10-year hold

• IRR: -23.9%
• Equity multiple: -0.22×
• Total profit: $-64,702
• Equity at exit: $16,428

Cash invested: $53,200 (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 11751

• Active inventory: 134
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,666 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,850/yr
• Insurance: −$79
• HOA: −$1,094
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $-301

Break-even live

Break-even rent $3,047

Max offer price $146,414

Occupancy floor —

Sensitivity live

Price	-10% $-170	-5% $-236	+0% $-301	+5% $-367	+10% $-433
Rent	-10% $-512	-5% $-407	+0% $-301	+5% $-196	+10% $-91
Rate	-1.0pp $-206	-0.5pp $-253	base $-301	+0.5pp $-350	+1.0pp $-401

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: $47,500
• Closing costs: $5,700
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
584 Main St Unit 1 Islip, NY	1.0	1.0	620	$3,000	$4.84	2d	1	0.36mi
403 E Main St Unit 403-1A Bay Shore, NY	1.0	1.0	600	$2,470	$4.12	27d	1	1.14mi
407 E Main St Unit 407-7B Bay Shore, NY	1.0	1.0	600	$2,470	$4.12	26d	1	1.17mi
405 E Main St Bay Shore, NY	2.0	1.0–2.0	750	$2,485	$3.31	0d	1	1.18mi
62 Moffitt Blvd East Islip, NY	1.0	1.0	650	$1,650	$2.54	2d	1	1.19mi
35 Penataquit Ave Bay Shore, NY	2.0	1.0–1.5	657	$2,625	$3.99	0d	17	1.42mi
1214 Saxon Ave Unit 1534818P Bay Shore, NY	1.0	1.0	495	$3,358	$6.78	94d	1	1.50mi

HOA detail $1,094/mo · $13,128/yr condo

• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-09-20
   days on market $189,999 Active 258 DOM
2. 2026-09-19
   days on market $189,999 Active 257 DOM
3. 2026-09-18
   days on market $189,999 Active 256 DOM
4. 2026-09-17
   days on market $189,999 Active 255 DOM
5. 2026-09-16
   days on market $189,999 Active 254 DOM
6. 2026-09-15
   days on market $189,999 Active 253 DOM
7. 2026-09-14
   days on market $189,999 Active 252 DOM
8. 2026-09-13
   days on market $189,999 Active 251 DOM
9. 2026-09-12
   days on market $189,999 Active 250 DOM
10. 2026-09-11
    days on market $189,999 Active 249 DOM
11. 2026-09-05
    days on market $189,999 Active 243 DOM
12. 2026-09-04
    days on market $189,999 Active 242 DOM
13. 2026-09-02
    days on market $189,999 Active 240 DOM
14. 2026-08-31
    days on market $189,999 Active 238 DOM
15. 2026-08-30
    days on market $189,999 Active 237 DOM
16. 2026-08-29
    days on market $189,999 Active 236 DOM
17. 2026-08-28
    days on market $189,999 Active 235 DOM
18. 2026-08-27
    days on market $189,999 Active 234 DOM
19. 2026-08-26
    days on market $189,999 Active 233 DOM
20. 2026-08-25
    days on market $189,999 Active 232 DOM
21. 2026-08-24
    days on market $189,999 Active 231 DOM
22. 2026-08-23
    days on market $189,999 Active 230 DOM
23. 2026-08-22
    days on market $189,999 Active 229 DOM
24. 2026-08-21
    days on market $189,999 Active 228 DOM
25. 2026-08-20
    days on market $189,999 Active 227 DOM
26. 2026-08-19
    days on market $189,999 Active 226 DOM
27. 2026-08-18
    days on market $189,999 Active 225 DOM
28. 2026-08-17
    days on market $189,999 Active 224 DOM
29. 2026-08-16
    days on market $189,999 Active 223 DOM
30. 2026-08-15
    days on market $189,999 Active 222 DOM
31. 2026-08-14
    days on market $189,999 Active 221 DOM
32. 2026-08-13
    days on market $189,999 Active 220 DOM
33. 2026-08-12
    days on market $189,999 Active 219 DOM
34. 2026-08-11
    days on market $189,999 Active 218 DOM
35. 2026-08-10
    days on market $189,999 Active 217 DOM
36. 2026-08-09
    days on market $189,999 Active 216 DOM
37. 2026-08-08
    days on market $189,999 Active 215 DOM
38. 2026-08-06
    days on market $189,999 Active 213 DOM
39. 2026-08-05
    days on market $189,999 Active 212 DOM
40. 2026-08-04
    days on market $189,999 Active 211 DOM
41. 2026-08-03
    days on market $189,999 Active 210 DOM
42. 2026-07-31
    days on market $189,999 Active 207 DOM
43. 2026-07-30
    days on market $189,999 Active 206 DOM
44. 2026-07-30
    days on market $189,999 Active 205 DOM
45. 2026-07-28
    days on market $189,999 Active 204 DOM
46. 2026-07-26
    days on market $189,999 Active 202 DOM
47. 2026-07-24
    days on market $189,999 Active 200 DOM
48. 2026-07-23
    days on market $189,999 Active 199 DOM
49. 2026-07-22
    days on market $189,999 Active 198 DOM
50. 2026-07-21
    days on market $189,999 Active 197 DOM

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

Taxation est. · year 1

• Rental income: $31,987
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$2,559
• − Management: −$2,559
• − HOA: −$13,128
• − Depreciation: −$5,527
• Taxable loss: −$6,229
• Est. tax savings @ 24.0%: +$1,495
• After-tax cash flow: $-2,120/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 · 12 photos

Fair 45/100 Moderate rehab Est. rehab $15,000–$27,000 screening

This 1-bedroom co-op requires moderate renovations to improve its condition and increase its value. Key updates include painting, updating kitchen and bathroom, and landscaping.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — slight wear
• Moderate exterior paint — some wear
• Minor landscaping — some plants need trimming

Value-add opportunities

• Both paint interior walls — enhances curb appeal and interior aesthetics ↑
• Both replace kitchen cabinets — modernizes the space and adds value ↑
• Both update bathroom fixtures — modernizes the space and adds value ↑
• Both landscape and plant — enhances curb appeal and adds value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 66/100

Zoned Schools

Elementary Wing Elementary School Middle Islip Middle School D- NY #379/729 Nat'l #5,398/14,009 High Islip High School A+ NY #231/1,100 Nat'l #375/17,239

Schools (NCES district)

• District: Islip Union Free School District
• NCES district ID: 3615540
• Math proficiency: 52% ▼ -7.00%
• Reading proficiency: 67% ▲ 10.00%
• Median HH income: $92,825
• Composite: 54.7/100
• National rank: #1325
• State rank: #186 of 590 in NY

A Composite livability gradescore 83/100

Livability — Islip

• Score: 83/100
• State rank: #59
• US rank: #878

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Islip, NY
• County: Suffolk · 1,505,262 people
• City population: 13,152
• Metro: New York-Newark-Jersey City, NY-NJ
• Population (ZIP): 13,152
• Household income: $116,328
• Rent vs Own: 16.6% rent · 83.4% own

---

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 15% Two or more races 9% Asian 5% Black 3%
• Hispanic origin (detail): Puerto Rican 7%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 8% · Canada, China, Jamaica
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 2% Chinese 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: ▼ -368.19%
• Current HPI: 288.0267
• 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

-5.0% since first listed

3 events — show timeline

• 2026-02-14 Price Changed $189,999 OneKey® MLS as Distributed by MLS Grid
• 2026-01-05 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-09-22 Listed $199,999 OneKey® MLS as Distributed by MLS Grid