59 Norfleet Ln · Coram, NY 11727

$449,999

7 bd · 2.0 ba · 2,048 sqft · SingleFamily public records · 60 Days on market

Built 1975 1,771 sqft lot $220/sqft · 47% below area Est $734k · 39% under

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Why this score? — see what drove the C- 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
• Cash flow +13.8/30.0
• Schools +5.2/10.0
• 1% rule +4.5/10.0
• DSCR +4.2/10.0
• Rent growth +3.7/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SOLD WITH TENANTS!!!..well maintained rooming house 7 bedrooms and 2 full baths\ main level 3 bedrooms, living room and EIK upstairs 4 large bedrooms with 1 full bath, large basement for storage with egress windows. Near convenient stores. Sold with tenants.

Key facts

• 1,771 sq ft lot
• Built 1975
• Listed 60 days

What this means for you Summary

Snapshot

• This is a 7-bed/2.0-bath single-family listed at $450k.

Deal economics

• At list price, monthly cash flow is $39 ($469/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $427k (5.0% below list).
• Recommended offer: $427k (5.0% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.5% in Coram — 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 66/100 on livability (#646 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, schools B; Watch: amenities F, commute F, cost of living F.
• Longwood Central School District (rural): math 61% / reading 55% proficiency, ranked #235 of 590 in NY (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.7%/yr); 232 active listings in the ZIP; solid renter incomes; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• At $4,274/mo this rent would consume 50% of the median local household income ($103k/yr) (locally 994% 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 (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k 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 60 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y 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 $151k; list at $450k implies a 198% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; major wind risk, 78% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $427,351 (5.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.95% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.37%
• DSCR: 1.02
• GRM: 8.8

CMA / ARV

• ARV (median comp): $734,022
• List price: $449,999
• Delta: -38.69%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.66% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.50×
• Total profit: $-62,973
• Equity at exit: $67,096

10-year hold

• IRR: -2.2%
• Equity multiple: 0.84×
• Total profit: $-20,005
• Equity at exit: $38,908

Cash invested: $126,000 (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 11727

• Rents YoY: 4.7%
• Active inventory: 232
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $4,274 medium
• Mortgage (P&I): −$2,360
• Tax from tax record: −$790 /mo · $9,476/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$897
• Net cashflow: $39

Break-even live

Break-even rent $4,224

Max offer price $449,999

Occupancy floor 94%

Sensitivity live

Price	-10% $294	-5% $166	+0% $39	+5% $-88	+10% $-216
Rent	-10% $-299	-5% $-130	+0% $39	+5% $208	+10% $377
Rate	-1.0pp $266	-0.5pp $153	base $39	+0.5pp $-78	+1.0pp $-196

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   days on market $449,999 Active 60 DOM
2. 2026-06-17
   days on market $449,999 Active 59 DOM
3. 2026-06-16
   days on market $449,999 Active 58 DOM
4. 2026-06-15
   days on market $449,999 Active 57 DOM
5. 2026-06-13
   days on market $449,999 Active 55 DOM
6. 2026-06-13
   days on market $449,999 Active 54 DOM
7. 2026-06-09
   days on market $449,999 Active 51 DOM
8. 2026-06-08
   days on market $449,999 Active 50 DOM
9. 2026-06-07
   days on market $449,999 Active 49 DOM
10. 2026-06-04
    days on market $449,999 Active 46 DOM
11. 2026-06-03
    days on market $449,999 Active 45 DOM
12. 2026-06-02
    days on market $449,999 Active 44 DOM
13. 2026-06-01
    days on market $449,999 Active 43 DOM
14. 2026-05-31
    days on market $449,999 Active 42 DOM
15. 2026-04-19
    listed $449,999 Active 258-char remark

    Show marketing remark (258 chars)

    SOLD WITH TENANTS!!!..well maintained rooming house 7 bedrooms and 2 full baths\ main level 3 bedrooms, living room and EIK upstairs 4 large bedrooms with 1 full bath, large basement for storage with egress windows. Near convenient stores. Sold with tenants.

16. 2026-01-01
    historical
17. 2025-09-16
    status Active
18. 2025-09-13
    historical
19. 2025-09-10
    price $499,999
20. 2025-08-12
    price $550,000
21. 2025-08-12
    listed $550 Active
22. 2018-07-21
    historical
23. 2017-08-05
    price $185,000
24. 2017-07-20
    listed $205,000 New
25. 2004-08-04
    soldstatus $151,239
26. 1994-06-13
    soldstatus $34,000
27. 1994-01-24
    soldstatus $120,500
28. 1989-04-24
    soldstatus $152,000
29. 1987-06-02
    soldstatus $112,500

ⓘ 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: $9,476 · $790/mo
• Projected year-2 tax: $9,476 · $790/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,282
• − Mortgage interest: −$25,207
• − Property taxes: −$9,476
• − Insurance: −$2,250
• − Repairs & maintenance: −$4,103
• − Management: −$4,103
• − Depreciation: −$13,091
• Taxable loss: −$6,947
• Est. tax savings @ 24.0%: +$1,667
• After-tax cash flow: $2,136/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: Longwood Central School District
• NCES district ID: 3619230
• Math proficiency: 61% ▬ 0.00%
• Reading proficiency: 55% ▼ -1.00%
• Median HH income: $72,748
• Composite: 51.63/100
• National rank: #1703
• State rank: #235 of 590 in NY

Livability — Coram

• Score: 66/100
• State rank: #646
• US rank: #12097

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coram, NY
• County: Suffolk County · 679,920 people
• City population: 28,495
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 28,495
• Household income: $103,287
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 994.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 50% Hispanic / Latino 19% Two or more races 18% Black 15% Asian 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 8% Dominican 4%
• Common ancestry: Romanian 4% Scotch-Irish 2% Lithuanian 1%
• Foreign-born: 22% · Canada, South Korea, Jamaica
• Languages at home: 72% English-only · Spanish 12% Other Indo-European 8% Arabic 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: ▼ -571.88%
• Current HPI: 388.8297
• Rent YoY: ▲ 4.66%
• 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

+300.0% since first listed

15 events — show timeline

• 2026-04-19 Listed $449,999 OneKey® MLS as Distributed by MLS Grid
• 2026-01-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-09-16 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-09-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-09-10 Price Changed $499,999 OneKey® MLS as Distributed by MLS Grid
• 2025-08-12 Price Changed $550,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-12 Listed $550 OneKey® MLS as Distributed by MLS Grid
• 2018-07-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-08-05 Price Changed $185,000 OneKey® MLS as Distributed by MLS Grid
• 2017-07-20 Listed $205,000 OneKey® MLS as Distributed by MLS Grid
• 2004-08-04 Sold (Public Records) $151,239 Public Records
• 1994-06-13 Sold (Public Records) $34,000 Public Records
• 1994-01-24 Sold (Public Records) $120,500 Public Records
• 1989-04-24 Sold (Public Records) $152,000 Public Records
• 1987-06-02 Sold (Public Records) $112,500 Public Records

Property tax history

+2.5%/yr

Latest (2025): $9,476 · +0.0% YoY. Source: county tax records.