14 7th St · Wading River, NY 11792

$399,999

2 bd · 1.0 ba · 959 sqft · SingleFamily public records · 14 Days on market

Built 1940 3,920 sqft lot $417/sqft · 35% below area Est $617k · 35% 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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Schools +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this Cozy Inline ranch ideally situated just four doors from private beach access, perfect for year-round living or a relaxing summer retreat. Enter through a convenient mudroom into a cozy den featuring classic chair rail moldings. The home offers two spacious bedrooms and an updated full bathroom. The kitchen is outfitted with stainless steel appliances, built-in corner shelves, pantries, and elegant wainscoting (chair rail moldings). A door off the kitchen leads to a second mudroom with access to the backyard, and a shed that has electric, complete with a fenced property line for added privacy. Additional features include a walk-up attic for storage or potential expansion, updated plumbing (2018), Serviced cesspool 6 month ago, and a hot water heater (2007). The home is equipped with 100-amp electric service. A full basement with walk-out access provides ample space for storage, recreation, or future finishing. Conveniently located near East End farms, wineries, restaurants, and shopping-all just 10 minutes away-this home offers the perfect blend of coastal charm and accessibility.

Key facts

• Fenced property line
• Private beach access
• Walk-up attic

Tags

• PRIVATE BEACH ACCESS
• STAINLESS STEEL APPLIANCES
• BUILT-IN CORNER SHELVES
• FENCED PROPERTY LINE
• WALK-UP ATTIC
• UPDATED PLUMBING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $400k).
• Cap rate 12.0% vs local median 4.8% in Wading River — 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 64/100 on livability (#779 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, cost of living F.
• Riverhead Central School District (suburban): math 34% / reading 48% proficiency, ranked #489 of 590 in NY (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 65 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $3k of loan paydown is wiped out by about $12k 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 $112k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $94k; list at $400k implies a 326% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $399,999

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.48% ✓
• Cap rate: 11.95%
• Cash-on-cash: 20.21%
• DSCR: 1.90
• GRM: 5.6

CMA / ARV

• ARV (median comp): $617,393
• List price: $399,999
• Delta: -35.21%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
75 Herod Point Rd	0.23mi	2/1.0	852 (-11%)	1mo	$420,000	$493	70
20 Herod Point Rd	0.33mi	2/1.5	1,032 (+8%)	17mo	$461,000	$447	56
40 Great Rock Dr	0.48mi	3/2.0 (+1)	1,044 (+9%)	1mo	$775,000	$742	53
1 3rd St	0.68mi	3/1.5 (+1)	1,033 (+8%)	1mo	$489,000	$473	48
5 4th St	0.72mi	3/1.0 (+1)	1,000 (+4%)	10mo	$355,000	$355	46

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: 12.4%
• Equity multiple: 1.49×
• Total profit: $55,404
• Equity at exit: $59,641

10-year hold

• IRR: 21.4%
• Equity multiple: 2.82×
• Total profit: $203,358
• Equity at exit: $34,585

Cash invested: $112,000 (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 11792

• Home prices YoY: -5.2%
• Active inventory: 65
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $5,932 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$536 /mo · $6,434/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,246
• Net cashflow: $1,886

Break-even live

Break-even rent $3,545

Max offer price $399,999

Occupancy floor 63%

Sensitivity live

Price	-10% $2,112	-5% $1,999	+0% $1,886	+5% $1,773	+10% $1,659
Rent	-10% $1,417	-5% $1,652	+0% $1,886	+5% $2,120	+10% $2,354
Rate	-1.0pp $2,087	-0.5pp $1,988	base $1,886	+0.5pp $1,782	+1.0pp $1,677

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
125 Creek Rd Unit 1510781P Wading River, NY	2.0	1.0	710	$5,932	$8.35	16d	1	1.35mi

Listing history 3 events

1. 2026-05-06
   status Pending 1113-char remark

   Show marketing remark (1113 chars)

   Welcome to this Cozy Inline ranch ideally situated just four doors from private beach access, perfect for year-round living or a relaxing summer retreat. Enter through a convenient mudroom into a cozy den featuring classic chair rail moldings. The home offers two spacious bedrooms and an updated full bathroom. The kitchen is outfitted with stainless steel appliances, built-in corner shelves, pantries, and elegant wainscoting (chair rail moldings). A door off the kitchen leads to a second mudroom with access to the backyard, and a shed that has electric, complete with a fenced property line for added privacy. Additional features include a walk-up attic for storage or potential expansion, updated plumbing (2018), Serviced cesspool 6 month ago, and a hot water heater (2007). The home is equipped with 100-amp electric service. A full basement with walk-out access provides ample space for storage, recreation, or future finishing. Conveniently located near East End farms, wineries, restaurants, and shopping-all just 10 minutes away-this home offers the perfect blend of coastal charm and accessibility.

2. 2026-04-20
   listed $399,999 Active 1113-char remark

   Show marketing remark (1113 chars)

   Welcome to this Cozy Inline ranch ideally situated just four doors from private beach access, perfect for year-round living or a relaxing summer retreat. Enter through a convenient mudroom into a cozy den featuring classic chair rail moldings. The home offers two spacious bedrooms and an updated full bathroom. The kitchen is outfitted with stainless steel appliances, built-in corner shelves, pantries, and elegant wainscoting (chair rail moldings). A door off the kitchen leads to a second mudroom with access to the backyard, and a shed that has electric, complete with a fenced property line for added privacy. Additional features include a walk-up attic for storage or potential expansion, updated plumbing (2018), Serviced cesspool 6 month ago, and a hot water heater (2007). The home is equipped with 100-amp electric service. A full basement with walk-out access provides ample space for storage, recreation, or future finishing. Conveniently located near East End farms, wineries, restaurants, and shopping-all just 10 minutes away-this home offers the perfect blend of coastal charm and accessibility.

3. 1993-11-24
   soldstatus $94,000

ⓘ 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: $6,434 · $536/mo
• Projected year-2 tax: $6,597 · $550/mo
• Expected delta: +$163/yr (+$14/mo · 2.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $71,184
• − Mortgage interest: −$22,406
• − Property taxes: −$6,434
• − Insurance: −$2,000
• − Repairs & maintenance: −$5,695
• − Management: −$5,695
• − Depreciation: −$11,636
• Taxable income: $17,318
• Est. tax owed @ 24.0%: −$4,156
• After-tax cash flow: $18,473/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: Riverhead Central School District
• NCES district ID: 3624690
• Math proficiency: 34% ▼ -4.00%
• Reading proficiency: 48% ▲ 13.00%
• Median HH income: $61,607
• Composite: 36.38/100
• National rank: #4683
• State rank: #489 of 590 in NY

Livability — Wading River

• Score: 64/100
• State rank: #779
• US rank: #14836

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wading River, NY
• City population: 8,562
• Population (ZIP): 8,562

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 10% Two or more races 4% Black 1%
• Hispanic origin (detail): Dominican 1%
• Common ancestry: Romanian 4% Portuguese 2% Italian 2%
• Foreign-born: 9% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 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: ▼ -18.79%
• Current HPI: 344.4308
• 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

+325.5% since first listed

3 events — show timeline

• 2026-05-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-20 Listed $399,999 OneKey® MLS as Distributed by MLS Grid
• 1993-11-24 Sold (Public Records) $94,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $6,434 · +0.0% YoY. Source: county tax records.