14 Coolidge Rd

Hampton Bays, NY 11946

$535,000B+

2 bd · 1.0 ba · 721 sqft · Built 1956 · SingleFamily · Active · 126 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,468/mo
• Mortgage (P&I): −$2,806
• Tax + insurance: −$497
• HOA: −$0
• Vac / Maint / Mgmt: −$1,358
• Net cashflow: $1,808/mo
• Annual: $21,690/yr
• Cap rate: 10.35%
• Cash-on-cash: 14.48%
• DSCR: 1.64
• 1% rule: 1.21%
• Cash to close: $149,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $535k. Condition is rated fair.
• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $535k).
• It's been on market 126 days — a 12% lower offer ($471k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $471k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#551 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety B+; Watch: amenities F, commute F, cost of living F.
• Hampton Bays Union Free School District (suburban): math 45% / reading 44% proficiency, ranked #434 of 590 in NY (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hampton Bays Elementary School (math 32% / reading 52%, grade F, #1,361 of 2,108 statewide, top 67%, 682 students, 55% FRL); Hampton Bays Middle School (math 25% / reading 38%, grade F, #522 of 729 statewide, top 73%, 597 students, 64% FRL); Hampton Bays High School (math 98% / reading 57%, grade A-, #580 of 1,100 statewide, top 53%, 769 students, 53% FRL) — zoned schools average 58% FRL vs 38% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+16.1%/yr); 230 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 29d 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).
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $283k; list at $535k implies a 89% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $150k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.3% vs local median 5.9% in Hampton Bays — 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.
• At $6,468/mo this rent would consume 58% of the median local household income ($134k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior painting — The exterior walls appear to be in need of painting.
• Moderate: siding repairs — The siding appears to be in poor condition and may need repairs or replacement.