704B Patrick St · Westhampton, NY 11978

$699,900

3 bd · 2.0 ba · 1,288 sqft · SingleFamily public records · 26 Days on market

Built 1978 0.27 ac lot

---

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 +7.5/15.0
• Schools +6.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Set on a quarter-acre in the community of Westhampton Beach, this 3-bedroom ranch offers the ease of single-level living, convenience, and opportunity. The home features inviting main living spaces including a bright living room, eat-in kitchen, and 2-full baths. An expansive unfinished lower level is ideal for storage, a workshop, or future customization to match your vision. Outside, the private backyard creates the perfect setting for relaxing poolside, entertaining guests, or simply enjoying outdoor living. This property provides the flexibility to settle in as-is or reimagine a dream home. Enjoy the appeal of a tranquil neighborhood setting and seamless access to the beauty and lifesty

Key facts

• Quarter-acre
• Private backyard
• Single-level living

Tags

• QUARTER-ACRE
• SINGLE-LEVEL LIVING
• PRIVATE BACKYARD
• TRANQUIL NEIGHBORHOOD SETTING

Property features AI

Exterior

• Parking: Driveway; 1-car garage
• Utilities: Electricity connected (PSEG); Cesspool sewer
• Home design: Single family residence
• Construction: Frame construction
• Exterior features: Private pool; Not waterfront; Frame construction

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator
• Bedrooms: Includes a first-floor bedroom
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Oil heat; Ductless cooling
• Interior features: First-floor bedroom; First-floor full bathroom; Eat-in kitchen; Primary bathroom; Unfinished basement; Scuttle attic; 5 total rooms
• Laundry & utility: Washer and dryer; Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $700k.

Deal economics

• At list price, monthly cash flow is $11k ($133k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($19k rent vs $700k).
• Recommended offer: $689k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.3% vs local median 9.0% in Westhampton — 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 60/100 on livability (#969 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing C-, amenities F, commute 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.
• Zoned schools: Westhampton Beach Elementary School (math 67% / reading 67%, grade B+, #525 of 2,108 statewide, top 27%, 356 students, 43% FRL); Westhampton Middle School (math 61% / reading 63%, grade B+, #136 of 729 statewide, top 20%, 434 students, 26% FRL); Westhampton Beach Senior High School (math 90% / reading 96%, grade A+, #147 of 1,100 statewide, top 14%, 964 students, 24% FRL).
• Market conditions: 112 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $19,251/mo this rent would consume 185% 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 $75k of equity ($5k loan paydown + $70k 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 $196k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$120k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($689k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $689,401 (1.5% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.75% ✓
• Cap rate: 25.33%
• Cash-on-cash: 68.01%
• DSCR: 4.03
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $428,904
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
741 Hamilton Ave	0.08mi	3/2.0	1,288 (0%)	1mo	$530,000	$411	95
625 Edwards St Unit A	0.13mi	3/1.5	1,232 (-4%)	9mo	$407,500	$331	77
623 Edwards St Unit A	0.15mi	3/1.5	1,232 (-4%)	21mo	$410,000	$333	66

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 79.2%
• Equity multiple: 6.55×
• Total profit: $1,088,381
• Equity at exit: $630,525

10-year hold

• IRR: 73.4%
• Equity multiple: 14.51×
• Total profit: $2,648,521
• Equity at exit: $1,359,752

Cash invested: $195,972 (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: 3.0×

Monthly cashflow live

• Estimated rent: $19,251 medium
• Mortgage (P&I): −$3,670
• Tax from tax record: −$140 /mo · $1,685/yr
• Insurance: −$292
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,043
• Net cashflow: $11,106

Break-even live

Break-even rent $5,193

Max offer price $699,900

Occupancy floor 37%

Sensitivity live

Price	-10% $11,502	-5% $11,304	+0% $11,106	+5% $10,908	+10% $10,710
Rent	-10% $9,585	-5% $10,346	+0% $11,106	+5% $11,867	+10% $12,627
Rate	-1.0pp $11,459	-0.5pp $11,284	base $11,106	+0.5pp $10,925	+1.0pp $10,740

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: $174,975
• Closing costs: $20,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34 Montauk Hwy #12 Westhampton, NY	2.0	3.0	1773	$18,000	$10.15	25d	1	1.10mi
50 Hazelwood Ave Westhampton Beach, NY	3.0	2.0	1112	$20,000	$17.99	25d	1	1.32mi
4 Morris Ct Westhampton Beach, NY	4.0	3.5	1504	$30,000	$19.95	25d	1	1.34mi

Listing history 15 events

1. 2026-06-21
   days on market $699,900 Active 26 DOM
2. 2026-06-18
   days on market $699,900 Active 23 DOM
3. 2026-06-17
   days on market $699,900 Active 22 DOM
4. 2026-06-16
   days on market $699,900 Active 21 DOM
5. 2026-06-15
   days on market $699,900 Active 20 DOM
6. 2026-06-13
   days on market $699,900 Active 18 DOM
7. 2026-06-09
   days on market $699,900 Active 14 DOM
8. 2026-06-08
   days on market $699,900 Active 13 DOM
9. 2026-06-07
   days on market $699,900 Active 12 DOM
10. 2026-06-04
    days on market $699,900 Active 9 DOM
11. 2026-06-03
    days on market $699,900 Active 8 DOM
12. 2026-06-02
    days on market $699,900 Active 7 DOM
13. 2026-06-01
    days on market $699,900 Active 6 DOM
14. 2026-05-31
    days on market $699,900 Active 5 DOM
15. 2026-05-26
    listed $699,900 Active

ⓘ 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: $1,685 · $140/mo
• Projected year-2 tax: $6,756 · $563/mo
• Expected delta: +$5,072/yr (+$423/mo · 301.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥90°F today · 20 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: $231,016
• − Mortgage interest: −$39,205
• − Property taxes: −$1,685
• − Insurance: −$3,500
• − Repairs & maintenance: −$18,481
• − Management: −$18,481
• − Depreciation: −$20,361
• Taxable income: $129,303
• Est. tax owed @ 24.0%: −$31,033
• After-tax cash flow: $102,241/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

• Score: 60/100
• State rank: #969
• US rank: #18972

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, NY
• County: Suffolk County · 679,920 people
• City population: 2,843
• 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

1 event — show timeline

• 2026-05-26 Listed $699,900 OneKey® MLS as Distributed by MLS Grid

Property tax history

-2.4%/yr

Latest (2022): $1,685 · +0.0% YoY. Source: county tax records.