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

$899,000

3 bd · 3.0 ba · 2,200 sqft · SingleFamily · 34 Days on market

Built 1958 Average condition 0.25 ac lot $409/sqft · 33% below area Est $1349k · 33% 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 +4.5/10.0
• 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

Property features AI

Exterior

• Parking: Driveway; Off-street parking; Attached garage with 1 space
• Utilities: Electricity connected (PSEG); Propane; Water connected; Cesspool sewer
• Home design: Single-family residence
• Construction: Frame construction
• Exterior features: Private vinyl pool; Not waterfront; Frame construction

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bathrooms: Three full bathrooms
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: First-floor full bath; Eat-in kitchen; Finished full basement with walk-out access; Eight rooms total; Three or more levels
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $899k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $9k ($106k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($19k rent vs $899k).
• Recommended offer: $872k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.0% 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: 67 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k 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 $252k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($872k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $872,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.11% ✓
• Cap rate: 18.04%
• Cash-on-cash: 41.97%
• DSCR: 2.87
• GRM: 3.9

CMA / ARV

• ARV (median comp): $1,348,838
• List price: $899,000
• Delta: -33.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 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%)	6mo	$1,200,000	$508	64
2515 Sound Dr	0.52mi	3/1.5	2,290 (+4%)	9mo	$1,550,000	$677	56
529 2nd St	0.70mi	3/1.5	2,200 (0%)	10mo	$1,100,000	$500	53
1425 Middleton Rd	0.47mi	4/2.0 (+1)	1,968 (-10%)	15mo	$672,800	$342	39

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: 38.6%
• Equity multiple: 2.65×
• Total profit: $415,327
• Equity at exit: $134,044

10-year hold

• IRR: 45.1%
• Equity multiple: 5.31×
• Total profit: $1,084,838
• Equity at exit: $77,729

Cash invested: $251,720 (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 11944

• Home prices YoY: -23.7%
• Active inventory: 67
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $19,008 medium
• Mortgage (P&I): −$4,714
• Tax est. 1.5%: −$1,124 /mo · $13,485/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,992
• Net cashflow: $8,804

Break-even live

Break-even rent $7,864

Max offer price $899,000

Occupancy floor 49%

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
485 Sutton Pl Greenport, NY	4.0	2.5	2026	$20,000	$9.87	43d	1	0.09mi
123 Sterling Ave #2 Greenport, NY	3.0	3.0	1528	$45,000	$29.45	43d	1	0.90mi
312 5th Ave Greenport, NY	4.0	2.0	1900	$12,000	$6.32	43d	1	0.91mi
64230 North Rd Greenport, NY	4.0	3.0	2800	$6,500	$2.32	43d	1	1.00mi
237 6th St Greenport, NY	2.0	2.5	1452	$14,000	$9.64	11d	1	1.34mi
1110 Gillette Dr East Marion, NY	4.0	2.0	1500	$7,000	$4.67	19d	1	1.41mi

Listing history 15 events

1. 2026-06-18
   days on market $899,000 Active 34 DOM
2. 2026-06-17
   days on market $899,000 Active 33 DOM
3. 2026-06-16
   days on market $899,000 Active 32 DOM
4. 2026-06-15
   pricedays on market $899,000 Active 31 DOM
5. 2026-06-13
   days on market $949,000 Active 29 DOM
6. 2026-06-12
   days on market $949,000 Active 28 DOM
7. 2026-06-09
   days on market $949,000 Active 25 DOM
8. 2026-06-08
   days on market $949,000 Active 24 DOM
9. 2026-06-07
   days on market $949,000 Active 23 DOM
10. 2026-06-05
    days on market $949,000 Active 21 DOM
11. 2026-06-04
    days on market $949,000 Active 19 DOM
12. 2026-06-02
    days on market $949,000 Active 18 DOM
13. 2026-06-01
    days on market $949,000 Active 17 DOM
14. 2026-05-31
    days on market $949,000 Active 16 DOM
15. 2025-10-20
    listed $949,000 Active 272-char remark

ⓘ 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: $228,100
• − Mortgage interest: −$50,358
• − Property taxes: −$13,485
• − Insurance: −$4,495
• − Repairs & maintenance: −$18,248
• − Management: −$18,248
• − Depreciation: −$26,153
• Taxable income: $97,113
• Est. tax owed @ 24.0%: −$23,307
• After-tax cash flow: $82,338/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

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

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · existing cabinets need updating	Minor	$500–3,000
bathroom fixtures · existing fixtures need updating	Minor	$500–3,000
roof shingles · existing shingles need inspection	Minor	$500–3,000
exterior siding · existing siding needs repainting	Minor	$500–3,000
flooring · existing hardwood and carpet need updating	Minor	$500–3,000
interior walls/paint · existing paint needs touch-up	Minor	$500–3,000
HVAC · existing HVAC needs maintenance	Minor	$500–3,000
Total estimated repair cost · 7 items		$3,500–21,000

Value-add ROI direction

• 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 ↑

ⓘ 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: 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

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
• Population (ZIP): 4,744

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 (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%

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

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

-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