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

$839,000

3 bd · 3.0 ba · 2,200 sqft · SingleFamily · 131 Days on market

Built 1958 Average condition 0.25 ac lot Garage $381/sqft · 39% below area Est $1.379M · 39% 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 $839k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $8k ($98k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $839k).
• Recommended offer: $738k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.0% vs local median 7.7% 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: 89 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 77d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 73% 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 $17,677/mo this rent would consume 265% 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 $25k 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 $235k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($738k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $738,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 days. Have you received any prior offers? Is the seller open to a 12% 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: 2.11% ✓
• Cap rate: 17.97%
• Cash-on-cash: 41.72%
• DSCR: 2.86
• GRM: 4.0

CMA / ARV

• ARV (median comp): $1,378,654
• List price: $839,000
• Delta: -39.14%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
619 Bailey Ave	0.27mi	4/2.5 (+1)	2,300 (+4%)	1mo	$1,415,000	$615	72
1111 Main St	0.30mi	3/2.0	2,363 (+7%)	10mo	$1,200,000	$508	62
2515 Sound Dr	0.52mi	3/1.5	2,290 (+4%)	12mo	$1,550,000	$677	53
529 2nd St	0.70mi	3/1.5	2,200 (0%)	13mo	$1,100,000	$500	50
1425 Middleton Rd	0.47mi	4/2.0 (+1)	1,968 (-10%)	18mo	$672,800	$342	36

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: 38.4%
• Equity multiple: 2.64×
• Total profit: $384,473
• Equity at exit: $125,098

10-year hold

• IRR: 44.8%
• Equity multiple: 5.28×
• Total profit: $1,005,666
• Equity at exit: $72,541

Cash invested: $234,920 (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: 12 active · 8 under contract
• Months of supply: 18.0 mo (6%/mo absorbed)
• Median asking: $1,352,000 ($753/sqft)
• Median days on market: 131 d
• This list price: 8% of active listings are priced below it
• ARV vs active asking: -16.8% 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: 89
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $17,677 high
• Mortgage (P&I): −$4,400
• Tax est. 1.5%: −$1,049 /mo · $12,585/yr
• Insurance: −$350
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,712
• Net cashflow: $8,167

Break-even live

Break-even rent $7,339

Max offer price $839,000

Occupancy floor 49%

Sensitivity live

Price	-10% $8,747	-5% $8,457	+0% $8,167	+5% $7,877	+10% $7,587
Rent	-10% $6,770	-5% $7,469	+0% $8,167	+5% $8,865	+10% $9,564
Rate	-1.0pp $8,590	-0.5pp $8,380	base $8,167	+0.5pp $7,950	+1.0pp $7,728

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: $209,750
• Closing costs: $25,170
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
485 Sutton Pl Greenport, NY	4.0	2.5	2026	$20,000	$9.87	139d	1	0.09mi
123 Sterling Ave #2 Greenport, NY	3.0	3.0	1528	$45,000	$29.45	139d	1	0.90mi
312 5th Ave Greenport, NY	4.0	2.0	1900	$12,000	$6.32	139d	1	0.91mi
64230 North Rd Greenport, NY	4.0	3.0	2800	$6,500	$2.32	139d	1	1.00mi
1510 Maple Ln Greenport, NY	4.0	3.5	2000	$8,000	$4.00	76d	1	1.09mi
446 6th St Greenport, NY	3.0	1.5	1400	$16,000	$11.43	1d	1	1.15mi
405 The Short Ln East Marion, NY	4.0	2.5	2000	$10,000	$5.00	1d	1	1.16mi
306 6th St Greenport, NY	3.0	2.0	2000	$16,000	$8.00	51d	1	1.32mi
237 6th St Greenport, NY	2.0	2.5	1452	$14,000	$9.64	0d	1	1.34mi
1110 Gillette Dr East Marion, NY	4.0	2.0	1500	$7,000	$4.67	114d	1	1.41mi
172 5th St Greenport, NY	4.0	2.5	1900	$30,000	$15.79	69d	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. 2026-09-23
   days on market $839,000 Active 131 DOM
2. 2026-09-20
   days on market $839,000 Active 128 DOM
3. 2026-09-19
   days on market $839,000 Active 127 DOM
4. 2026-09-19
   days on market $839,000 Active 126 DOM
5. 2026-09-17
   days on market $839,000 Active 125 DOM
6. 2026-09-17
   days on market $839,000 Active 124 DOM
7. 2026-09-16
   days on market $839,000 Active 123 DOM
8. 2026-09-14
   days on market $839,000 Active 122 DOM
9. 2026-09-13
   days on market $839,000 Active 121 DOM
10. 2026-09-13
    days on market $839,000 Active 120 DOM
11. 2026-09-11
    days on market $839,000 Active 119 DOM
12. 2026-09-05
    days on market $839,000 Active 113 DOM
13. 2026-09-04
    days on market $839,000 Active 112 DOM
14. 2026-09-03
    days on market $839,000 Active 111 DOM
15. 2026-09-02
    pricedays on market $839,000 Active 110 DOM
16. 2026-08-29
    days on market $879,000 Active 106 DOM
17. 2026-08-28
    days on market $879,000 Active 105 DOM
18. 2026-08-27
    days on market $879,000 Active 104 DOM
19. 2026-08-26
    days on market $879,000 Active 103 DOM
20. 2026-08-25
    days on market $879,000 Active 102 DOM
21. 2026-08-24
    days on market $879,000 Active 101 DOM
22. 2026-08-23
    days on market $879,000 Active 100 DOM
23. 2026-08-22
    days on market $879,000 Active 99 DOM
24. 2026-08-21
    days on market $879,000 Active 98 DOM
25. 2026-08-20
    days on market $879,000 Active 97 DOM
26. 2026-08-19
    days on market $879,000 Active 96 DOM
27. 2026-08-18
    days on market $879,000 Active 95 DOM
28. 2026-08-17
    days on market $879,000 Active 94 DOM
29. 2026-08-16
    days on market $879,000 Active 93 DOM
30. 2026-08-15
    days on market $879,000 Active 92 DOM
31. 2026-08-14
    days on market $879,000 Active 91 DOM
32. 2026-08-13
    days on market $879,000 Active 90 DOM
33. 2026-08-12
    days on market $879,000 Active 89 DOM
34. 2026-08-11
    days on market $879,000 Active 88 DOM
35. 2026-08-10
    days on market $879,000 Active 87 DOM
36. 2026-08-09
    days on market $879,000 Active 86 DOM
37. 2026-08-08
    days on market $879,000 Active 85 DOM
38. 2026-08-07
    days on market $879,000 Active 84 DOM
39. 2026-08-06
    days on market $879,000 Active 83 DOM
40. 2026-08-05
    days on market $879,000 Active 82 DOM
41. 2026-08-04
    days on market $879,000 Active 81 DOM
42. 2026-08-03
    days on market $879,000 Active 80 DOM
43. 2026-07-31
    days on market $879,000 Active 77 DOM
44. 2026-07-29
    pricedays on market $879,000 Active 75 DOM
45. 2026-07-27
    days on market $899,000 Active 73 DOM
46. 2026-07-25
    days on market $899,000 Active 71 DOM
47. 2026-07-24
    days on market $899,000 Active 70 DOM
48. 2026-07-23
    days on market $899,000 Active 69 DOM
49. 2026-07-22
    days on market $899,000 Active 68 DOM
50. 2026-07-21
    days on market $899,000 Active 67 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: $212,129
• − Mortgage interest: −$46,997
• − Property taxes: −$12,585
• − Insurance: −$4,195
• − Repairs & maintenance: −$16,970
• − Management: −$16,970
• − Depreciation: −$24,407
• Taxable income: $90,004
• Est. tax owed @ 24.0%: −$21,601
• After-tax cash flow: $76,403/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