658 Sound Ave Unit E-10 · Wading River, NY 11933

$135,000

1 bd · 1.0 ba · 900 sqft · Manufactured · 10 Days on market

Built 1969 Good condition $906/mo HOA · 25% of rent

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Why this score? — see what drove the A- 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 +7.4/10.0
• Appreciation +6.6/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0

Listing remarks

Charming Updated Home at the Gateway to the North Fork Welcome to this beautifully updated 1-bedroom, 1-bath home, perfectly situated at the gateway to the North Fork. Meticulously maintained and move-in ready, this inviting residence offers comfort, convenience, and a peaceful retreat from the hustle and bustle of everyday life. Start your mornings with coffee on the spacious outdoor deck and enjoy evening meals alfresco beneath the covered canopy, creating the perfect setting for relaxation and entertaining. The property features manicured, well-maintained landscaping that enhances its curb appeal and outdoor enjoyment. Additional highlights include a paver driveway accommodating two veh

Key facts

• 2 parking spots
• Built 1969
• Listed 9 days

Property features AI

Finance

• Other: Located in a senior community
• HOA & community: Has association; Monthly association fee of $906; Association covers water, trash, snow removal and other items

Exterior

• Parking: Driveway parking; One carport space (carport present); Two parking spaces total
• Utilities: Cesspool sewer; Cable available
• Home design: Mobile home
• Construction: Vinyl-sided construction
• Exterior features: Vinyl siding; Not waterfront

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Includes a first-floor bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Oil heating; Ductless cooling; Other heating
• Interior features: First floor bedroom; First floor full bathroom; Other interior features
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $968 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $135k).
• Cap rate 14.9% 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.
• 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) — zoned schools at 0% FRL track the district average.
• Market conditions: 85 active listings in the ZIP; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($933 loan paydown + $4k appreciation (3.3% local appreciation)).
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.3% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• 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 $135,000

Questions for the listing agent

1. Built in 1969 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 2.63% ✓
• Cap rate: 14.90%
• Cash-on-cash: 30.74%
• DSCR: 2.37
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $84,600
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
658 Sound Ave Unit H-12	0.00mi	2/1.0 (+1)	800 (-11%)	7mo	$95,000	$119	71
658 Sound Ave Unit C15	0.03mi	2/1.0 (+1)	1,010 (+12%)	11mo	$95,000	$94	64
658 Sound Ave Unit H4	0.03mi	2/1.0 (+1)	800 (-11%)	15mo	$75,000	$94	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.2%
• Equity multiple: 3.13×
• Total profit: $80,401
• Equity at exit: $62,685

10-year hold

• IRR: 37.1%
• Equity multiple: 6.25×
• Total profit: $198,373
• Equity at exit: $98,176

Cash invested: $37,800 (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 11933

• Home prices YoY: 0.8%
• Active inventory: 85
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $3,553 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$906
• Vacancy / Maint / Mgmt: −$746
• Net cashflow: $968

Break-even live

Break-even rent $2,328

Max offer price $135,000

Occupancy floor 68%

Sensitivity live

Price	-10% $1,061	-5% $1,015	+0% $968	+5% $922	+10% $875
Rent	-10% $687	-5% $828	+0% $968	+5% $1,109	+10% $1,249
Rate	-1.0pp $1,036	-0.5pp $1,003	base $968	+0.5pp $933	+1.0pp $898

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $906 · $10,872/yr
• Likely covers: landscaping

Listing history 11 events

1. 2026-06-21
   days on market $135,000 Active 10 DOM
2. 2026-06-18
   days on market $135,000 Active 8 DOM
3. 2026-06-17
   days on market $135,000 Active 7 DOM
4. 2026-06-16
   days on market $135,000 Active 6 DOM
5. 2026-06-15
   days on market $135,000 Active 5 DOM
6. 2026-06-13
   days on market $135,000 Active 3 DOM
7. 2026-06-12
   statusdays on market $135,000 Active 2 DOM
8. 2026-06-09
   days on market $135,000 Coming Soon 3 DOM
9. 2026-06-08
   days on market $135,000 Coming Soon 2 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $135,000 Coming Soon 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°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: $42,640
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$3,411
• − Management: −$3,411
• − HOA: −$10,872
• − Depreciation: −$3,927
• Taxable income: $10,756
• Est. tax owed @ 24.0%: −$2,581
• After-tax cash flow: $9,037/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 · 13 photos

Good 75/100 Cosmetic rehab

This home is in good condition with a good exterior and interior. It has a good roof and flooring, and the landscaping is well-maintained. The home is move-in ready and would benefit from some cosmetic updates to the exterior siding and HVAC units to increase its resale and rental value.

Value-add opportunities

• Resale Paint the exterior siding — Painting the exterior siding can enhance the home's curb appeal and make it look more inviting to potential buyers.
• Rental Upgrade the HVAC units — Upgrading the HVAC units can improve the comfort and energy efficiency of the home, making it more attractive to renters.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior siding — Painting the exterior siding can enhance the home's curb appeal and make it look more inviting to potential buyers. ↑
• Rental Upgrade the HVAC units — Upgrading the HVAC units can improve the comfort and energy efficiency of the home, making it more attractive to renters. ↑

ⓘ 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: Shoreham-Wading River Central School District
• NCES district ID: 3626840
• Math proficiency: 80% ▼ -1.00%
• Reading proficiency: 81% ▲ 6.00%
• Median HH income: $115,782
• Composite: 74.37/100
• National rank: #160
• State rank: #36 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): 6,784

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 10% Black 8% Two or more races 2% Asian 1%
• Hispanic origin (detail): Puerto Rican 1% Dominican 4%
• Common ancestry: Romanian 5% Lithuanian 3% Iranian 1%
• Foreign-born: 11% · Canada, Jamaica, South Korea
• Languages at home: 85% English-only · Spanish 10% Other Indo-European 3% German/W. Germanic 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: ▲ 3.26%
• Current HPI: 397.7148
• 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

1 event — show timeline

• 2026-06-06 Coming Soon $135,000 OneKey® MLS as Distributed by MLS Grid