28 (aka 710) Sound Rd · Greenport West, NY 11944

$879,000

3 bd · 3.0 ba · 2,200 sqft · SingleFamily · 85 Days on market

Built 1958 Average condition 0.25 ac lot Garage $400/sqft · 36% below area Est $1.363M · 36% under ↓ 5% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.4/10.0
• Livability +2.9/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious Cape with Garage, Nice Yard and Inground Pool, Ideally Located Near a Memorable Long Island Sound Beach. The Property Backs Up to a Scenic Waterfront Vineyard with Tasting Room, While Greenport Marinas, Boat Launches, Village Shops and Restaurants Are All Nearby.

Key facts

• Tasting room
• Inground pool
• Greenport marinas

Tags

• INGROUND POOL
• SCENIC WATERFRONT VINEYARD
• TASTING ROOM
• GREENPORT MARINAS
• BOAT LAUNCHES
• VILLAGE SHOPS

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $879k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $8k ($100k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $879k).
• Recommended offer: $826k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.6% vs local median 8.0% in Greenport West — 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 58/100 on livability (#1,073 in NY) — a working-class tenant base; expect higher turnover. Strengths: crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Greenport Union Free School District (town): math 55% / reading 45% proficiency, ranked #450 of 755 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Greenport Elementary School (math 47% / reading 62%, grade C, #908 of 2,108 statewide, top 46%, 339 students, 61% FRL); Greenport High School (math 52% / reading 54%, grade C-, #934 of 1,100 statewide, top 86%, 356 students, 63% FRL).
• Market conditions: 74 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 68d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 78% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• At $18,204/mo this rent would consume 273% of the median local household income ($80k/yr) (locally 21% 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 $6k of loan paydown is wiped out by about $26k 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 $246k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($826k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $826,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 2.07% ✓
• Cap rate: 17.63%
• Cash-on-cash: 40.50%
• DSCR: 2.80
• GRM: 4.0

CMA / ARV

• ARV (median comp): $1,362,867
• List price: $879,000
• Delta: -35.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1111 Main St	0.30mi	3/2.0	2,363 (+7%)	8mo	$1,200,000	$508	63
2515 Sound Dr	0.52mi	3/1.5	2,290 (+4%)	10mo	$1,550,000	$677	54
529 2nd St	0.70mi	3/1.5	2,200 (0%)	12mo	$1,100,000	$500	52
803 Front St	1.11mi	3/2.0	2,300 (+4%)	3mo	$899,000	$391	51
604 Main St	0.80mi	3/3.5	2,000 (-9%)	2mo	$1,300,000	$650	47
525 Landing Ln	1.00mi	4/3.0 (+1)	2,100 (-4%)	15mo	$920,000	$438	40
506 5th St	1.11mi	3/1.5	1,800 (-18%)	2mo	$940,000	$522	33
330 2nd St	0.91mi	2/2.0 (-1)	1,946 (-12%)	7mo	$675,000	$347	31
430 Snug Harbor Rd	0.99mi	3/4.0	2,455 (+12%)	14mo	$1,900,000	$774	30
168 Bay Ave	1.00mi	3/1.5	2,600 (+18%)	5mo	$999,000	$384	30
516 4th St	1.11mi	4/2.5 (+1)	1,840 (-16%)	15mo	$1,195,000	$649	20
336 2nd St	0.90mi	4/2.0 (+1)	1,800 (-18%)	16mo	$578,000	$321	18

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: 36.9%
• Equity multiple: 2.57×
• Total profit: $386,871
• Equity at exit: $131,062

10-year hold

• IRR: 43.6%
• Equity multiple: 5.14×
• Total profit: $1,019,210
• Equity at exit: $76,000

Cash invested: $246,120 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 10 active · 8 under contract
• Months of supply: 30.0 mo (3%/mo absorbed)
• Median asking: $1,704,500 ($841/sqft)
• Median days on market: 123 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -26.4% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 11944

• Home prices YoY: -23.7%
• Active inventory: 74
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $18,204 high
• Mortgage (P&I): −$4,610
• Tax est. 1.5%: −$1,099 /mo · $13,185/yr
• Insurance: −$366
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,823
• Net cashflow: $8,306

Break-even live

Break-even rent $7,689

Max offer price $879,000

Occupancy floor 49%

Sensitivity live

Price	-10% $8,914	-5% $8,610	+0% $8,306	+5% $8,003	+10% $7,699
Rent	-10% $6,868	-5% $7,587	+0% $8,306	+5% $9,025	+10% $9,744
Rate	-1.0pp $8,749	-0.5pp $8,530	base $8,306	+0.5pp $8,079	+1.0pp $7,847

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: $219,750
• Closing costs: $26,370
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
485 Sutton Pl Greenport, NY	4.0	2.5	2026	$20,000	$9.87	93d	1	0.09mi
123 Sterling Ave #2 Greenport, NY	3.0	3.0	1528	$45,000	$29.45	93d	1	0.90mi
312 5th Ave Greenport, NY	4.0	2.0	1900	$12,000	$6.32	93d	1	0.91mi
64230 North Rd Greenport, NY	4.0	3.0	2800	$6,500	$2.32	93d	1	1.00mi
1510 Maple Ln Greenport, NY	4.0	3.5	2000	$8,000	$4.00	30d	1	1.09mi
306 6th St Greenport, NY	3.0	2.0	2000	$16,000	$8.00	4d	1	1.32mi
237 6th St Greenport, NY	2.0	2.5	1452	$14,000	$9.64	60d	1	1.34mi
1110 Gillette Dr East Marion, NY	4.0	2.0	1500	$7,000	$4.67	68d	1	1.41mi
172 5th St Greenport, NY	4.0	2.5	1900	$30,000	$15.79	23d	1	1.47mi

Property features AI

Exterior

• Parking: DrivewayOff-street parkingAttached garage with 1 space
• Utilities: Electricity connected (PSEG)PropaneWater connectedCesspool sewer
• Home design: Single-family residence
• Construction: Frame construction
• Exterior features: Private vinyl poolNot waterfrontFrame construction

Interior

• Kitchen: DishwasherRangeRefrigerator
• Bathrooms: Three full bathrooms
• Heating & cooling: Baseboard heatingNo central cooling
• Interior features: First-floor full bathEat-in kitchenFinished full basement with walk-out accessEight rooms totalThree or more levels
• Laundry & utility: WasherDryer

Listing history 50 events

1. 2026-08-08
   days on market $879,000 Active 85 DOM
2. 2026-08-07
   days on market $879,000 Active 84 DOM
3. 2026-08-06
   days on market $879,000 Active 83 DOM
4. 2026-08-05
   days on market $879,000 Active 82 DOM
5. 2026-08-04
   days on market $879,000 Active 81 DOM
6. 2026-08-03
   days on market $879,000 Active 80 DOM
7. 2026-07-31
   days on market $879,000 Active 77 DOM
8. 2026-07-29
   pricedays on market $879,000 Active 75 DOM
9. 2026-07-27
   days on market $899,000 Active 73 DOM
10. 2026-07-25
    days on market $899,000 Active 71 DOM
11. 2026-07-24
    days on market $899,000 Active 70 DOM
12. 2026-07-23
    days on market $899,000 Active 69 DOM
13. 2026-07-22
    days on market $899,000 Active 68 DOM
14. 2026-07-21
    days on market $899,000 Active 67 DOM
15. 2026-07-20
    days on market $899,000 Active 66 DOM
16. 2026-07-18
    days on market $899,000 Active 64 DOM
17. 2026-07-16
    days on market $899,000 Active 62 DOM
18. 2026-07-15
    days on market $899,000 Active 61 DOM
19. 2026-07-14
    days on market $899,000 Active 60 DOM
20. 2026-07-13
    days on market $899,000 Active 59 DOM
21. 2026-07-12
    days on market $899,000 Active 58 DOM
22. 2026-07-12
    days on market $899,000 Active 57 DOM
23. 2026-07-10
    days on market $899,000 Active 56 DOM
24. 2026-07-09
    days on market $899,000 Active 55 DOM
25. 2026-07-07
    days on market $899,000 Active 53 DOM
26. 2026-07-06
    days on market $899,000 Active 52 DOM
27. 2026-07-05
    days on market $899,000 Active 51 DOM
28. 2026-07-05
    days on market $899,000 Active 50 DOM
29. 2026-07-03
    days on market $899,000 Active 49 DOM
30. 2026-07-02
    days on market $899,000 Active 48 DOM
31. 2026-07-01
    days on market $899,000 Active 47 DOM
32. 2026-06-30
    days on market $899,000 Active 46 DOM
33. 2026-06-29
    days on market $899,000 Active 45 DOM
34. 2026-06-28
    days on market $899,000 Active 44 DOM
35. 2026-06-27
    days on market $899,000 Active 43 DOM
36. 2026-06-26
    days on market $899,000 Active 42 DOM
37. 2026-06-22
    days on market $899,000 Active 38 DOM
38. 2026-06-21
    days on market $899,000 Active 37 DOM
39. 2026-06-21
    days on market $899,000 Active 36 DOM
40. 2026-06-18
    days on market $899,000 Active 34 DOM
41. 2026-06-17
    days on market $899,000 Active 33 DOM
42. 2026-06-16
    days on market $899,000 Active 32 DOM
43. 2026-06-15
    pricedays on market $899,000 Active 31 DOM
44. 2026-06-13
    days on market $949,000 Active 29 DOM
45. 2026-06-12
    days on market $949,000 Active 28 DOM
46. 2026-06-09
    days on market $949,000 Active 25 DOM
47. 2026-06-08
    days on market $949,000 Active 24 DOM
48. 2026-06-07
    days on market $949,000 Active 23 DOM
49. 2026-06-05
    days on market $949,000 Active 21 DOM
50. 2026-06-04
    days on market $949,000 Active 19 DOM

ⓘ 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: $218,444
• − Mortgage interest: −$49,238
• − Property taxes: −$13,185
• − Insurance: −$4,395
• − Repairs & maintenance: −$17,475
• − Management: −$17,475
• − Depreciation: −$25,571
• Taxable income: $91,104
• Est. tax owed @ 24.0%: −$21,865
• After-tax cash flow: $77,811/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 · 24 photos

Average 55/100 Moderate rehab Est. rehab $55,000–$99,000 screening

This home is in average condition with moderate updates needed to improve its resale and rental value. The property is located near a scenic Long Island Sound beach and a waterfront vineyard, making it a great investment opportunity.

Repairs flagged

• Minor kitchen cabinets — existing cabinets need updating
• Minor bathroom fixtures — existing fixtures need updating
• Minor roof shingles — existing shingles need inspection
• Minor exterior siding — existing siding needs repainting
• Minor flooring — existing hardwood and carpet need updating
• Minor interior walls/paint — existing paint needs touch-up
• Minor HVAC — existing HVAC needs maintenance

Value-add opportunities

• Resale kitchen cabinets and appliances — modernizing the kitchen ↑
• Resale bathroom fixtures and finishes — modernizing the bathrooms ↑
• Resale roof shingles — improving curb appeal ↑
• Resale exterior siding and paint — improving curb appeal ↑
• Resale flooring — modernizing the flooring ↑
• Resale interior walls/paint — modernizing the interior ↑
• Rental HVAC — improving comfort and energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 54/100

Zoned Schools

Elementary Greenport Elementary School C NY #908/2,108 Nat'l #9,801/41,679 High Greenport High School C- NY #934/1,100 Nat'l #4,871/17,239

Schools (NCES district)

• District: Greenport Union Free School District
• NCES district ID: 3612840
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $54,490
• Composite: 45.25/100
• National rank: #5759
• State rank: #450 of 755 in NY

D Composite livability gradescore 58/100

Livability — Greenport West

• Score: 58/100
• State rank: #1073
• US rank: #21520

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenport West, NY
• County: Suffolk · 1,505,262 people
• Metro: New York-Newark-Jersey City, NY-NJ
• Population (ZIP): 4,744
• Household income: $79,917
• Rent vs Own: 36.5% rent · 63.5% own
• Severe rent burden: 21% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 23% Two or more races 6% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 6% Lithuanian 2% Subsaharan African 2%
• Foreign-born: 19% · Canada, China
• Languages at home: 69% English-only · Spanish 22% German/W. Germanic 3% Russian/Polish/Slavic 2%

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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: ▼ -143.97%
• Current HPI: 462.3431
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

Property features AI

Exterior

• Parking: DrivewayOff-street parkingAttached garage with 1 space
• Utilities: Electricity connected (PSEG)PropaneWater connectedCesspool sewer
• Home design: Single-family residence
• Construction: Frame construction
• Exterior features: Private vinyl poolNot waterfrontFrame construction

Interior

• Kitchen: DishwasherRangeRefrigerator
• Bathrooms: Three full bathrooms
• Heating & cooling: Baseboard heatingNo central cooling
• Interior features: First-floor full bathEat-in kitchenFinished full basement with walk-out accessEight rooms totalThree or more levels
• Laundry & utility: WasherDryer

Price history

-5.3% since first listed

2 events — show timeline

• 2026-06-14 Price Changed $899,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-20 Listed $949,000 OneKey® MLS as Distributed by MLS Grid