6 Soundview #G Dr Unit G · Montauk, NY 11954

$465,000

1 bd · 1.0 ba · 255 sqft · Condo · 6 Days on market

Built 1979 Good condition $718/mo HOA · 6% of rent ↓ 8% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Appreciation +4.1/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

This Amazing 1500Sq Ft Co-Op, Located On Montauk Harbor Just Steps Away From The Famous Gosman Dock, Boasts A 266 Sq Ft Mbr With Jacuzzi Shower, Full Kitchen With New Appliances And Eat At Island, Full Laundry In Unit; Huge Living Area With Wood Burning Fp, 438 Sq Ft Brand New Trex Deck; Bbq And Pets Allowed; Access To Beach And Heated Pool In A Family Oriented Environment, Additional information: Interior Features:Lr/Dr

Key facts

• Private deck
• Heated outdoor pool
• Waterfront studio

Tags

• WATERFRONT STUDIO
• PRIVATE DECK
• HEATED OUTDOOR POOL
• SHORT WALK TO MONTAUK HARBOR

Property features AI

Finance

• HOA & community: Association: swoundview; Annual association fee of $977; Community pool; Association fees cover air conditioning, cable TV, common area maintenance, electricity, hot water, internet, trash and water

Exterior

• Parking: Common parking
• Utilities: Shared septic; Cable connected
• Home design: Stock cooperative
• Construction: Shingle siding
• Exterior features: Waterfront property

Interior

• Kitchen: Gas cooktop; Gas oven; Refrigerator
• Bedrooms: Entry level: 2
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: First-floor bedroom; Kitchen island; Open floor plan; Open kitchen

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $465k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $5k ($65k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $465k).
• Cap rate 20.2% vs local median 7.9% in Montauk — 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 69/100 on livability (#474 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A; Watch: housing C-, amenities F, commute F.
• Montauk Union Free School District (town): math 50% / reading 60% proficiency, ranked #311 of 755 in NY (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Montauk School (math 62% / reading 82%, grade A-, #378 of 2,108 statewide, top 20%, 303 students, 0% FRL) — zoned schools average 0% FRL vs 21% district-wide (21 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 72% at this address vs 55% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Montauk Union Free School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 39 active listings in the ZIP; high-income renter base; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• At $11,793/mo this rent would consume 99% of the median local household income ($143k/yr) (locally 20% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $3k of loan paydown is wiped out by about $8k 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 (-1.8% appreciation + 3.0% rent growth), your $130k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $134k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $465,000

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 2.54% ✓
• Cap rate: 20.19%
• Cash-on-cash: 49.63%
• DSCR: 3.21
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.78% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 48.9%
• Equity multiple: 3.25×
• Total profit: $292,394
• Equity at exit: $95,049

10-year hold

• IRR: 53.3%
• Equity multiple: 6.53×
• Total profit: $720,537
• Equity at exit: $85,794

Cash invested: $130,200 (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 11954

• Home prices YoY: -0.3%
• Active inventory: 39
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $11,793 medium
• Mortgage (P&I): −$2,439
• Tax est. 1.5%: −$581 /mo · $6,975/yr
• Insurance: −$194
• HOA: −$718
• Vacancy / Maint / Mgmt: −$2,476
• Net cashflow: $5,385

Break-even live

Break-even rent $4,977

Max offer price $465,000

Occupancy floor 49%

Sensitivity live

Price	-10% $5,706	-5% $5,545	+0% $5,385	+5% $5,224	+10% $5,063
Rent	-10% $4,453	-5% $4,919	+0% $5,385	+5% $5,850	+10% $6,316
Rate	-1.0pp $5,619	-0.5pp $5,503	base $5,385	+0.5pp $5,264	+1.0pp $5,142

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: $116,250
• Closing costs: $13,950
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $718 · $8,616/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-21
   days on market $465,000 Active 6 DOM
2. 2026-06-18
   days on market $465,000 Active 3 DOM
3. 2026-06-17
   days on market $465,000 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   pricestatusdays on marketlisting id $465,000 Active 1 DOM
6. 2026-05-01
   status Pending
7. 2026-03-28
   listed $599,000 Active
8. 2015-10-05
   soldstatus $575,000 424-char remark

   Show marketing remark (424 chars)

   This Amazing 1500Sq Ft Co-Op, Located On Montauk Harbor Just Steps Away From The Famous Gosman Dock, Boasts A 266 Sq Ft Mbr With Jacuzzi Shower, Full Kitchen With New Appliances And Eat At Island, Full Laundry In Unit; Huge Living Area With Wood Burning Fp, 438 Sq Ft Brand New Trex Deck; Bbq And Pets Allowed; Access To Beach And Heated Pool In A Family Oriented Environment, Additional information: Interior Features:Lr/Dr

9. 2015-07-10
   listed $649,999 424-char remark

   Show marketing remark (424 chars)

   This Amazing 1500Sq Ft Co-Op, Located On Montauk Harbor Just Steps Away From The Famous Gosman Dock, Boasts A 266 Sq Ft Mbr With Jacuzzi Shower, Full Kitchen With New Appliances And Eat At Island, Full Laundry In Unit; Huge Living Area With Wood Burning Fp, 438 Sq Ft Brand New Trex Deck; Bbq And Pets Allowed; Access To Beach And Heated Pool In A Family Oriented Environment, Additional information: 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.

Taxation est. · year 1

• Rental income: $141,511
• − Mortgage interest: −$26,047
• − Property taxes: −$6,975
• − Insurance: −$2,325
• − Repairs & maintenance: −$11,321
• − Management: −$11,321
• − HOA: −$8,616
• − Depreciation: −$13,527
• Taxable income: $61,379
• Est. tax owed @ 24.0%: −$14,731
• After-tax cash flow: $49,885/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained, coastal-style condo offers a good condition with a good ROI potential through minor updates and freshening up.

Value-add opportunities

• Both Paint fresh coat — Fresh paint enhances curb appeal and interior aesthetics.
• Both Replace window treatments — New curtains or blinds can improve privacy and add a fresh look.
• Resale Update kitchen appliances — Modern appliances can attract more buyers.
• Both Install smart home devices — Enhances comfort and energy efficiency, attracting buyers and renters alike.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint fresh coat — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Replace window treatments — New curtains or blinds can improve privacy and add a fresh look. ↑
• Resale Update kitchen appliances — Modern appliances can attract more buyers. ↑
• Both Install smart home devices — Enhances comfort and energy efficiency, attracting buyers and renters alike. ↑

ⓘ 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: Montauk Union Free School District
• NCES district ID: 3619710
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 60% ▬ 0.00%
• Median HH income: $73,702
• Composite: 50.99/100
• National rank: #3831
• State rank: #311 of 755 in NY

Livability — Montauk

• Score: 69/100
• State rank: #474
• US rank: #8373

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montauk, NY
• County: Suffolk County · 679,920 people
• City population: 4,223
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 4,223
• Household income: $142,961
• Rent vs Own: 21.3% rent · 78.7% own
• Severe rent burden: 20.0

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Two or more races 4% Black 1%
• Hispanic origin (detail): Mexican 2% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 3% Italian 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 4% Russian/Polish/Slavic 4% Other Indo-European 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: ▼ -1.78%
• Current HPI: 577.7344
• 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

-7.8% since first listed

4 events — show timeline

• 2026-05-01 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-28 Listed $599,000 OneKey® MLS as Distributed by MLS Grid
• 2015-10-05 Sold (MLS) $575,000 OneKey® MLS as Distributed by MLS Grid
• 2015-07-10 Listed $649,999 OneKey® MLS as Distributed by MLS Grid