150 N Woods Dr

Wading River, NY 11792

$799,000D

4 bd · 3.5 ba · 2,608 sqft · Built 2000 · SingleFamily · Active · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,505/mo
• Mortgage (P&I): −$4,190
• Tax + insurance: −$2,052
• HOA: −$0
• Vac / Maint / Mgmt: −$1,366
• Net cashflow: $-1,104/mo
• Annual: $-13,245/yr
• Cap rate: 4.64%
• Cash-on-cash: -5.92%
• DSCR: 0.74
• 1% rule: 0.81%
• Cash to close: $223,720

Investor read

• This is a 4-bed/3.5-bath single-family listed at $799k.
• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $604k (24.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $650k (18.6% below list).
• It's been on market 66 days — a 6% lower offer ($751k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $604k (24.4% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• 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.
• Shoreham-Wading River Central School District (suburban): math 80% / reading 81% proficiency, ranked #36 of 590 in NY (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical; only 3% free/reduced lunch — higher-income household profile.
• Zoned schools: Miller Avenue School (427 students, 0% FRL); Albert G Prodell Middle School (math 62% / reading 87%, grade A, #61 of 729 statewide, top 9%, 456 students, 0% FRL); Shoreham-Wading River High School (math 98% / reading 84%, grade A+, #203 of 1,100 statewide, top 20%, 708 students, 0% FRL) — zoned schools at 0% FRL track the district average.
• Watch-outs: property tax is 2.6% of price.
• Market conditions: 65 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 5 sale attempts since 2y 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 $326k; list at $799k implies a 145% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 66 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.