2069 Feuereisen Ave

Ronkonkoma, NY 11779

$589,000D

3 bd · 1.5 ba · 1,301 sqft · Built 1964 · SingleFamily · Pending · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,797/mo
• Mortgage (P&I): −$3,089
• Tax + insurance: −$501
• HOA: −$0
• Vac / Maint / Mgmt: −$797
• Net cashflow: $-590/mo
• Annual: $-7,076/yr
• Cap rate: 5.09%
• Cash-on-cash: -4.29%
• DSCR: 0.81
• 1% rule: 0.64%
• Cash to close: $164,920

Investor read

• This is a 3-bed/1.5-bath single-family listed at $589k.
• At list price, monthly cash flow is $-590 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $485k (17.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $380k (35.5% below list).
• It's been on market 15 days — a 2% lower offer ($580k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $380k (35.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#317 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F, commute F, cost of living F.
• Connetquot Central School District (suburban): math 67% / reading 63% proficiency, ranked #155 of 590 in NY (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Helen B Duffield Elementary School (math 74% / reading 64%, grade A-, #447 of 2,108 statewide, top 24%, 322 students, 34% FRL); Ronkonkoma Middle School (math 32% / reading 57%, grade D, #348 of 729 statewide, top 50%, 672 students, 34% FRL); Connetquot High School (math 96% / reading 72%, grade A, #404 of 1,100 statewide, top 37%, 1,757 students, 27% FRL) — zoned schools average 32% FRL vs 13% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 174 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Climate carrying-cost: major wind risk, 72% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.1% vs local median 3.6% in Ronkonkoma — 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.
• This rent runs 41% of the median local income ($112k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.