28 Bailey Ct #28 · Middle Island, NY 11953

$179,000

1 bd · 1.0 ba · 700 sqft · Condo · 48 Days on market

Built 1975 $256/sqft · 7% below area Est $192k · 7% under $870/mo HOA · 36% of rent

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Why this score? — see what drove the D 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 +10.6/15.0
• 1% rule +8.7/10.0
• Cash flow +8.1/30.0
• Schools +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

1 St floor unit, Bright & Sunny, beautiful private location, Large Bedroom Iiving rm dining room combo. Beautiful Kitchen & Bathroom. Priced right won't last make an offer. Outdoor pool & Tennis court, Additional information: Interior Features:Efficiency Kitchen,Lr/Dr

Key facts

• Clubhouse
• First floor unit
• Private patio area

Tags

• FIRST FLOOR UNIT
• PRIVATE LOCATION
• CERAMIC TILE FLOORING
• NEWLY RENOVATED FULL BATH
• PRIVATE PATIO AREA
• CLUBHOUSE

Property features AI

Finance

• HOA & community: Has association (Hidden Meadows Cooperative Community); Monthly association fee of $870; Association amenities include clubhouse, pool, and tennis courts; Association fee covers common area maintenance, exterior maintenance, grounds care, pool service, sewer, snow removal, trash and water; Additional special assessment fee of $119

Exterior

• Parking: Assigned parking
• Utilities: PSEG electric; Shared sewer; Cable available; Electricity connected; Natural gas connected; Water connected
• Home design: Stock cooperative; One level entry; 2 total stories
• Construction: Brick construction
• Exterior features: Brick exterior; Community in-ground pool; Not waterfront

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: One bedroom on the first floor
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Ceiling fans; First-floor bedroom; First-floor full bathroom; Patio; Cats allowed

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $179k.

Deal economics

• At list price, monthly cash flow is $-176 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (14.2% below list).
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $154k (14.2% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 3.3% in Middle Island — 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 65/100 on livability (#703 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: crime C-, amenities F, commute 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.
• Zoned schools: Ridge Elementary School (math 42% / reading 57%, grade D, #1,085 of 2,108 statewide, top 56%, 719 students, 44% FRL); Longwood Junior High School (math 67% / reading 67%, grade A-, #101 of 729 statewide, top 15%, 1,388 students, 48% FRL); Longwood High School (math 90% / reading 77%, grade A, #409 of 1,100 statewide, top 39%, 2,977 students, 44% FRL).
• Market conditions: 123 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 $1k of loan paydown is wiped out by about $5k 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 48 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 13y 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 $150k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.
• 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 $153,513 (14.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.37% ✓
• Cap rate: 5.11%
• Cash-on-cash: -4.22%
• DSCR: 0.81
• GRM: 6.1

CMA / ARV

• ARV (median comp): $192,235
• List price: $179,000
• Delta: -6.88%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -23.0%
• Equity multiple: 0.21×
• Total profit: $-39,652
• Equity at exit: $26,689

10-year hold

• IRR: -16.4%
• Equity multiple: 0.07×
• Total profit: $-46,652
• Equity at exit: $15,477

Cash invested: $50,120 (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 →

ZIP-level market 11953

• Home prices YoY: -20.2%
• Active inventory: 123
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,444 high
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• HOA: −$870
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $-176

Break-even live

Break-even rent $2,667

Max offer price $153,513

Occupancy floor —

Sensitivity live

Price	-10% $-52	-5% $-114	+0% $-176	+5% $-238	+10% $-300
Rent	-10% $-369	-5% $-273	+0% $-176	+5% $-80	+10% $17
Rate	-1.0pp $-86	-0.5pp $-131	base $-176	+0.5pp $-223	+1.0pp $-270

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
465 Lake Pointe Dr Unit 465 Middle Island, NY	1.0	1.0	695	$2,405	$3.46	46d	1	0.66mi
463 Lake Pointe Dr Unit 463 Middle Island, NY	1.0	1.0	695	$2,555	$3.68	46d	1	0.66mi
135 Lake Pointe Ct Unit 135 Middle Island, NY	1.0	1.0	695	$2,405	$3.46	46d	1	0.66mi
130 Lake Pointe Ct Unit 130 Brookhaven, NY	2.0	1.0	740	$2,435	$3.29	46d	1	0.68mi
356 Lake Pointe Dr Unit 356 Middle Island, NY	2.0	1.0	740	$2,435	$3.29	46d	1	0.68mi
444 Lake Pointe Dr Unit 444 Middle Island, NY	2.0	1.0	740	$2,435	$3.29	46d	1	0.73mi
462 Lake Pointe Dr Unit 462 Middle Island, NY	2.0	1.0	740	$2,435	$3.29	46d	1	0.73mi

HOA detail condo

• Monthly dues: $870 · $10,440/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-21
   days on market $179,000 Active 48 DOM
2. 2026-06-18
   days on market $179,000 Active 45 DOM
3. 2026-06-17
   days on market $179,000 Active 44 DOM
4. 2026-06-16
   days on market $179,000 Active 43 DOM
5. 2026-06-15
   days on market $179,000 Active 42 DOM
6. 2026-06-13
   days on market $179,000 Active 40 DOM
7. 2026-06-13
   days on market $179,000 Active 39 DOM
8. 2026-06-10
   price $179,000 Active 36 DOM
9. 2026-06-09
   days on market $169,000 Active 36 DOM
10. 2026-06-08
    days on market $169,000 Active 35 DOM
11. 2026-06-07
    days on market $169,000 Active 34 DOM
12. 2026-06-04
    days on market $169,000 Active 31 DOM
13. 2026-06-03
    days on market $169,000 Active 30 DOM
14. 2026-06-02
    days on market $169,000 Active 29 DOM
15. 2026-06-01
    days on market $169,000 Active 28 DOM
16. 2026-05-31
    days on market $169,000 Active 27 DOM
17. 2026-05-04
    listed $179,000 Active 581-char remark
18. 2022-10-14
    soldstatus $150,000 Closed 280-char remark

    Show marketing remark (280 chars)

    1 St floor unit, Bright & Sunny, beautiful private location, Large Bedroom Iiving rm dining room combo. Beautiful Kitchen & Bathroom. Priced right won't last make an offer. Outdoor pool & Tennis court, Additional information: Interior Features:Efficiency Kitchen,Lr/Dr

19. 2022-07-21
    status Pending 280-char remark

    Show marketing remark (280 chars)

    1 St floor unit, Bright & Sunny, beautiful private location, Large Bedroom Iiving rm dining room combo. Beautiful Kitchen & Bathroom. Priced right won't last make an offer. Outdoor pool & Tennis court, Additional information: Interior Features:Efficiency Kitchen,Lr/Dr

20. 2022-07-06
    historical 280-char remark

    Show marketing remark (280 chars)

    1 St floor unit, Bright & Sunny, beautiful private location, Large Bedroom Iiving rm dining room combo. Beautiful Kitchen & Bathroom. Priced right won't last make an offer. Outdoor pool & Tennis court, Additional information: Interior Features:Efficiency Kitchen,Lr/Dr

21. 2022-05-19
    status Active 280-char remark

    Show marketing remark (280 chars)

    1 St floor unit, Bright & Sunny, beautiful private location, Large Bedroom Iiving rm dining room combo. Beautiful Kitchen & Bathroom. Priced right won't last make an offer. Outdoor pool & Tennis court, Additional information: Interior Features:Efficiency Kitchen,Lr/Dr

22. 2022-05-09
    historical 280-char remark

    Show marketing remark (280 chars)

    1 St floor unit, Bright & Sunny, beautiful private location, Large Bedroom Iiving rm dining room combo. Beautiful Kitchen & Bathroom. Priced right won't last make an offer. Outdoor pool & Tennis court, Additional information: Interior Features:Efficiency Kitchen,Lr/Dr

23. 2022-05-05
    listed $150,000 Active 280-char remark

    Show marketing remark (280 chars)

    1 St floor unit, Bright & Sunny, beautiful private location, Large Bedroom Iiving rm dining room combo. Beautiful Kitchen & Bathroom. Priced right won't last make an offer. Outdoor pool & Tennis court, Additional information: Interior Features:Efficiency Kitchen,Lr/Dr

24. 2014-07-10
    historical
25. 2014-04-15
    historical
26. 2014-03-28
    historical
27. 2013-12-10
    listed $60,000
28. 2013-12-10
    listed $60,000
29. 2013-12-10
    listed $55,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥93°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $29,330
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$895
• − Repairs & maintenance: −$2,346
• − Management: −$2,346
• − HOA: −$10,440
• − Depreciation: −$5,207
• Taxable loss: −$4,617
• Est. tax savings @ 24.0%: +$1,108
• After-tax cash flow: $-1,006/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 — Middle Island

• Score: 65/100
• State rank: #703
• US rank: #13264

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Middle Island, NY
• City population: 13,383
• Population (ZIP): 13,383

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 16% Black 15% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Dominican 3%
• Common ancestry: Romanian 4% Hispanic 2% Scotch-Irish 1%
• Foreign-born: 12% · Canada, Jamaica, China
• Languages at home: 87% English-only · Spanish 7% Russian/Polish/Slavic 2% French/Haitian/Cajun 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: ▼ -90.61%
• Current HPI: 358.0686
• 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

+198.3% since first listed

15 events — show timeline

• 2026-06-10 Price Changed $179,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-26 Price Changed $169,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-04 Listed $179,000 OneKey® MLS as Distributed by MLS Grid
• 2022-10-14 Sold (MLS) $150,000 OneKey® MLS as Distributed by MLS Grid
• 2022-07-21 Pending — OneKey® MLS as Distributed by MLS Grid
• 2022-07-06 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-05-19 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2022-05-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-05-05 Listed $150,000 OneKey® MLS as Distributed by MLS Grid
• 2014-07-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-04-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-03-28 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-12-10 Listed $55,000 OneKey® MLS as Distributed by MLS Grid
• 2013-12-10 Listed $60,000 OneKey® MLS as Distributed by MLS Grid
• 2013-12-10 Listed $60,000 OneKey® MLS as Distributed by MLS Grid