281 Dune Rd Unit 18a · Westhampton Beach, NY 11978

$525,000

1 bd · 1.0 ba · 600 sqft · Condo · 69 Days on market

Built 1969 $875/sqft · at area comps Est $521k · at est.

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Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.1/15.0
• Schools +6.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Desirable La Coquille Building on Dune Road is Now Officially Open for the Season. Must See Truly Turn-Key 1 Bedroom, 1 Full Bathroom, Oceanfront Seasonal Co-Op ... This Practically Brand New Unit has an open floorplan, hi-tech retractable fans/light fixtures in the living room & bedroom, a private balcony with new remote control retractable awning, and is being sold fully furnished, except for a few small personal items, which will be excluded from the sale. Nothing to do but unpack & immediately enjoy beachfront living! There is an Outdoor Pool, lounge areas & Beach Access. 135 shares. Fees are $5,265 2x per year ( due in April & October ), which include taxes/water/exterior maintenance/common areas/concierge services/trash collection. This is a 1st floor unit but there are stairs to get to 1st floor... There's a storage closet & laundry room on the main level of the building & a parking spot designated for this unit in the lot across the street. Don't Miss Out on the Opportunity to indulge in this sought after Westhampton Beachfront Community.

Key facts

• Outdoor pool
• Balcony
• Storage closet

Tags

• OCEANFRONT SEASONAL CO-OP
• BALCONY
• OUTDOOR POOL
• BEACH ACCESS
• HI TECH RETRACTABLE FANS
• STORAGE CLOSET

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $525k.

Deal economics

• At list price, monthly cash flow is $5k ($64k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $525k).
• Recommended offer: $494k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.6% vs local median 9.3% in Westhampton Beach — 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 64/100 on livability (#740 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, schools A; Watch: amenities F, commute F, cost of living F.
• Westhampton Beach Union Free School District (suburban): math 72% / reading 75% proficiency, ranked #81 of 590 in NY (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 112 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• At $12,846/mo this rent would consume 123% of the median local household income ($125k/yr) (locally 43% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $56k of equity ($4k loan paydown + $52k appreciation (10.0% local appreciation)).
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $147k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$90k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($494k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $273k; list at $525k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $493,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 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 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-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. 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.
9. 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.
10. 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: 2.45% ✓
• Cap rate: 18.56%
• Cash-on-cash: 43.80%
• DSCR: 2.95
• GRM: 3.4

CMA / ARV

• ARV (median comp): $520,717
• List price: $525,000
• Delta: 0.82%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 58.4%
• Equity multiple: 5.28×
• Total profit: $628,585
• Equity at exit: $472,962

10-year hold

• IRR: 52.0%
• Equity multiple: 11.78×
• Total profit: $1,584,122
• Equity at exit: $1,019,960

Cash invested: $147,000 (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 11978

• Home prices YoY: 2.9%
• Active inventory: 112
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $12,846 medium
• Mortgage (P&I): −$2,753
• Tax est. 1.5%: −$656 /mo · $7,875/yr
• Insurance: −$219
• HOA est. from 4 same-building comps: −$1,154
• Vacancy / Maint / Mgmt: −$2,698
• Net cashflow: $5,366

Break-even live

Break-even rent $6,053

Max offer price $525,000

Occupancy floor 53%

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: $131,250
• Closing costs: $15,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
274 Dune Rd #6 Westhampton Beach, NY	1.0	1.0	565	$5,000	$8.85	43d	1	0.09mi
274 Dune Rd #19 Westhampton Beach, NY	1.0	1.0	684	$12,000	$17.54	10d	1	0.09mi
274 Dune Rd Unit 9 Westhampton Beach, NY	1.0	1.0	506	$10,500	$20.75	21d	1	0.09mi
260 Dune Rd Westhampton Beach, NY	2.0	2.0	550	$26,000	$47.27	7d	2	0.17mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watertrashexterior maint.pooldoorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $525,000 Active 69 DOM
2. 2026-06-17
   days on market $525,000 Active 68 DOM
3. 2026-06-16
   days on market $525,000 Active 67 DOM
4. 2026-06-15
   days on market $525,000 Active 66 DOM
5. 2026-06-13
   days on market $525,000 Active 64 DOM
6. 2026-06-09
   days on market $525,000 Active 60 DOM
7. 2026-06-08
   days on market $525,000 Active 59 DOM
8. 2026-06-07
   days on market $525,000 Active 58 DOM
9. 2026-06-04
   days on market $525,000 Active 55 DOM
10. 2026-06-03
    days on market $525,000 Active 54 DOM
11. 2026-06-02
    days on market $525,000 Active 53 DOM
12. 2026-06-01
    days on market $525,000 Active 52 DOM
13. 2026-05-31
    days on market $525,000 Active 51 DOM
14. 2026-04-10
    listed $525,000 Active 1089-char remark

    Show marketing remark (1089 chars)

    Desirable La Coquille Building on Dune Road is Now Officially Open for the Season. Must See Truly Turn-Key 1 Bedroom, 1 Full Bathroom, Oceanfront Seasonal Co-Op ... This Practically Brand New Unit has an open floorplan, hi-tech retractable fans/light fixtures in the living room & bedroom, a private balcony with new remote control retractable awning, and is being sold fully furnished, except for a few small personal items, which will be excluded from the sale. Nothing to do but unpack & immediately enjoy beachfront living! There is an Outdoor Pool, lounge areas & Beach Access. 135 shares. Fees are $5,265 2x per year ( due in April & October ), which include taxes/water/exterior maintenance/common areas/concierge services/trash collection. This is a 1st floor unit but there are stairs to get to 1st floor... There's a storage closet & laundry room on the main level of the building & a parking spot designated for this unit in the lot across the street. Don't Miss Out on the Opportunity to indulge in this sought after Westhampton Beachfront Community.

15. 2025-05-30
    listed $525,000 Active
16. 2025-05-24
    historical
17. 2021-04-01
    soldstatus $273,000 Closed
18. 2020-10-28
    status Pending
19. 2020-09-29
    price $319,000
20. 2020-07-17
    listed $349,900 Active
21. 2019-11-03
    historical
22. 2019-10-02
    price $329,000
23. 2019-08-02
    listed $369,000 New

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 57% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥90°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $154,147
• − Mortgage interest: −$29,408
• − Property taxes: −$7,875
• − Insurance: −$2,625
• − Repairs & maintenance: −$12,332
• − Management: −$12,332
• − HOA: −$13,848
• − Depreciation: −$15,273
• Taxable income: $60,454
• Est. tax owed @ 24.0%: −$14,509
• After-tax cash flow: $49,881/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: Westhampton Beach Union Free School District
• NCES district ID: 3631020
• Math proficiency: 72% ▼ -5.00%
• Reading proficiency: 75% ▲ 3.00%
• Median HH income: $88,137
• Composite: 65.91/100
• National rank: #444
• State rank: #81 of 590 in NY

Livability — Westhampton Beach

• Score: 64/100
• State rank: #740
• US rank: #14093

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: Westhampton Beach, NY
• County: Suffolk County · 679,920 people
• City population: 4,705
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 4,705
• Household income: $125,179
• Rent vs Own: 11.8% rent · 88.2% own
• Severe rent burden: 43.0

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 (72%)
• Race & ethnicity: White 72% Two or more races 14% Hispanic / Latino 11% Black 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Romanian 7% Scotch-Irish 2% Italian 2%
• Foreign-born: 14% · Canada, Jamaica, China
• Languages at home: 84% English-only · Spanish 10% Other Indo-European 2% Russian/Polish/Slavic 1%

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: ▲ 13.02%
• Current HPI: 460.3964
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+42.3% since first listed

10 events — show timeline

• 2026-04-10 Listed $525,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-30 Listed $525,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-24 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2021-04-01 Sold (MLS) $273,000 OneKey® MLS as Distributed by MLS Grid
• 2020-10-28 Pending — OneKey® MLS as Distributed by MLS Grid
• 2020-09-29 Price Changed $319,000 OneKey® MLS as Distributed by MLS Grid
• 2020-07-17 Listed $349,900 OneKey® MLS as Distributed by MLS Grid
• 2019-11-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-10-02 Price Changed $329,000 OneKey® MLS as Distributed by MLS Grid
• 2019-08-02 Listed $369,000 OneKey® MLS as Distributed by MLS Grid