55 Brown St · Greenport West, NY 11944

$1,395,000

3 bd · 3.0 ba · 2,012 sqft · SingleFamily · 156 Days on market

Built 2006 5,663 sqft lot $693/sqft · 42% above area Est $983k · 42% over

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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).

• Cash flow +27.2/30.0
• DSCR +9.4/10.0
• 1% rule +6.4/10.0
• Schools +4.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Experience the pinnacle of refined living in this completely reimagined home, boasting a comprehensive renovation and redesign led by a professional interior designer. Every square inch has been thoughtfully curated, starting with the custom front door featuring openable screened sidelights that welcome you inside. Premium oak hardwood flooring flows seamlessly throughout the main living areas, grounding the home in natural warmth and elegance. The heart of the home, the great room and large kitchen, is an entertainer's dream, featuring gas fireplace, a dry bar with a wine fridge, premium lighting and plumbing fixtures, quartz countertops and custom window treatments including blinds and valances. First floor also includes a light filled den and separate office space for working at home. Retreat to the spectacular owner’s suite, a true sanctuary defined by architectural ceilings with shiplap details and a custom walk-in closet. The en-suite bathroom is clad in Italian marble and featuring premium fixtures. Indulge in the luxury of radiant floor heating—which extends into the large, curbless spa shower with its sleek infinity drain. Your guests are treated to equal luxury; guest baths feature premium fixtures and their own radiant floor heating. The guest bedrooms offer cozy carpeting and custom woodworking with the twin room featuring blackout and light-filtering shades for perfect rest. Behind the walls, the home is just as impressive. A whole-house water softening and purification system, smart irrigation system, and 2-zone heat/AC with smart thermostats ensure comfort and peace of mind. This is more than a renovation; it is a complete lifestyle upgrade. Located close to the heart of downtown Greenport Village and its bayfront beaches and transportation hub.

Key facts

• Quartz countertops
• Gas fireplace
• Light filled den

Tags

• PREMIUM OAK HARDWOOD FLOORING
• GAS FIREPLACE
• DRY BAR WITH WINE FRIDGE
• QUARTZ COUNTERTOPS
• CUSTOM WINDOW TREATMENTS
• LIGHT FILLED DEN

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $1.40M.

Deal economics

• At list price, monthly cash flow is $4k ($48k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $1.40M).
• Recommended offer: $1.23M (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 8.0% in Greenport West — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: schools D+, amenities F, commute 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.
• Market conditions: 67 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 $10k of loan paydown is wiped out by about $42k 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 $391k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($1.23M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $172k; list at $1.40M implies a 709% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,227,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.14% ✓
• Cap rate: 9.72%
• Cash-on-cash: 12.25%
• DSCR: 1.54
• GRM: 7.3

CMA / ARV

• ARV (median comp): $983,116
• List price: $1,395,000
• Delta: 41.90%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
217 6th St	0.18mi	3/2.5	1,967 (-2%)	22mo	$1,550,000	$788	67
803 Front St	0.26mi	3/2.0	2,300 (+14%)	1mo	$899,000	$391	59
520 Madison Ave	0.56mi	4/2.5 (+1)	2,000 (-1%)	17mo	$1,675,000	$838	52
330 2nd St	0.69mi	2/2.0 (-1)	1,946 (-3%)	6mo	$675,000	$347	48
516 4th St	0.44mi	4/2.5 (+1)	1,840 (-8%)	14mo	$1,195,000	$649	47
515 Fourth St	0.42mi	3/2.0	2,200 (+9%)	23mo	$1,200,000	$545	42
239 5th Ave	0.46mi	3/2.0	1,750 (-13%)	15mo	$895,000	$511	40
216 North St	0.74mi	3/3.5	1,724 (-14%)	0mo	$999,000	$579	39
336 2nd St	0.70mi	4/2.0 (+1)	1,800 (-10%)	14mo	$578,000	$321	29

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: 1.8%
• Equity multiple: 1.07×
• Total profit: $27,398
• Equity at exit: $207,999

10-year hold

• IRR: 11.4%
• Equity multiple: 1.89×
• Total profit: $349,016
• Equity at exit: $120,614

Cash invested: $390,600 (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: 7.3×

Monthly cashflow live

• Estimated rent: $15,868 high
• Mortgage (P&I): −$7,316
• Tax from tax record: −$653 /mo · $7,831/yr
• Insurance: −$581
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,332
• Net cashflow: $3,986

Break-even live

Break-even rent $10,822

Max offer price $1,395,000

Occupancy floor 70%

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: $348,750
• Closing costs: $41,850
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
237 6th St Greenport, NY	2.0	2.5	1452	$14,000	$9.64	11d	1	0.20mi
131 6th St Unit G Greenport, NY	3.0	2.5	2238	$5,000	$2.23	24d	1	0.23mi
134 6th St Greenport, NY	3.0	2.0	1560	$18,500	$11.86	19d	1	0.26mi
312 5th Ave Greenport, NY	4.0	2.0	1900	$12,000	$6.32	43d	1	0.57mi
64230 North Rd Greenport, NY	4.0	3.0	2800	$6,500	$2.32	43d	1	0.87mi
123 Sterling Ave #2 Greenport, NY	3.0	3.0	1528	$45,000	$29.45	43d	1	0.99mi
3650 Bay Shore Rd Greenport, NY	3.0	3.0	2400	$10,000	$4.17	24d	1	1.03mi
485 Sutton Pl Greenport, NY	4.0	2.5	2026	$20,000	$9.87	43d	1	1.30mi
465 Tarpon Dr Southold, NY	3.0	2.5	1572	$20,000	$12.72	24d	1	1.50mi

Listing history 16 events

1. 2026-06-18
   days on market $1,395,000 Active 156 DOM
2. 2026-06-17
   days on market $1,395,000 Active 155 DOM
3. 2026-06-16
   days on market $1,395,000 Active 154 DOM
4. 2026-06-15
   days on market $1,395,000 Active 153 DOM
5. 2026-06-13
   days on market $1,395,000 Active 151 DOM
6. 2026-06-12
   days on market $1,395,000 Active 150 DOM
7. 2026-06-09
   days on market $1,395,000 Active 147 DOM
8. 2026-06-08
   days on market $1,395,000 Active 146 DOM
9. 2026-06-07
   days on market $1,395,000 Active 145 DOM
10. 2026-06-05
    days on market $1,395,000 Active 143 DOM
11. 2026-06-04
    days on market $1,395,000 Active 141 DOM
12. 2026-06-02
    days on market $1,395,000 Active 140 DOM
13. 2026-06-01
    days on market $1,395,000 Active 139 DOM
14. 2026-05-31
    days on market $1,395,000 Active 138 DOM
15. 2026-01-13
    listed $1,395,000 Active 1802-char remark

    Show marketing remark (1802 chars)

    Experience the pinnacle of refined living in this completely reimagined home, boasting a comprehensive renovation and redesign led by a professional interior designer. Every square inch has been thoughtfully curated, starting with the custom front door featuring openable screened sidelights that welcome you inside. Premium oak hardwood flooring flows seamlessly throughout the main living areas, grounding the home in natural warmth and elegance. The heart of the home, the great room and large kitchen, is an entertainer's dream, featuring gas fireplace, a dry bar with a wine fridge, premium lighting and plumbing fixtures, quartz countertops and custom window treatments including blinds and valances. First floor also includes a light filled den and separate office space for working at home. Retreat to the spectacular owner’s suite, a true sanctuary defined by architectural ceilings with shiplap details and a custom walk-in closet. The en-suite bathroom is clad in Italian marble and featuring premium fixtures. Indulge in the luxury of radiant floor heating—which extends into the large, curbless spa shower with its sleek infinity drain. Your guests are treated to equal luxury; guest baths feature premium fixtures and their own radiant floor heating. The guest bedrooms offer cozy carpeting and custom woodworking with the twin room featuring blackout and light-filtering shades for perfect rest. Behind the walls, the home is just as impressive. A whole-house water softening and purification system, smart irrigation system, and 2-zone heat/AC with smart thermostats ensure comfort and peace of mind. This is more than a renovation; it is a complete lifestyle upgrade. Located close to the heart of downtown Greenport Village and its bayfront beaches and transportation hub.

16. 2005-11-04
    soldstatus $172,500

ⓘ 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: $7,831 · $653/mo
• Projected year-2 tax: $15,703 · $1,309/mo
• Expected delta: +$7,872/yr (+$656/mo · 100.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥90°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: $190,413
• − Mortgage interest: −$78,142
• − Property taxes: −$7,831
• − Insurance: −$6,975
• − Repairs & maintenance: −$15,233
• − Management: −$15,233
• − Depreciation: −$40,582
• Taxable income: $26,417
• Est. tax owed @ 24.0%: −$6,340
• After-tax cash flow: $41,493/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: 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

+708.7% since first listed

2 events — show timeline

• 2026-01-13 Listed $1,395,000 OneKey® MLS as Distributed by MLS Grid
• 2005-11-04 Sold (Public Records) $172,500 Public Records

Property tax history

+3.4%/yr

Latest (2025): $7,831 · +0.0% YoY. Source: county tax records.