236 Edgemere St #314 · Montauk, NY 11954

$1,049,500

3 bd · 2.0 ba · 1,448 sqft · Condo · 89 Days on market

Built 1926 Good condition $5800/mo HOA · 31% of rent ↓ 13% since listing

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Why this score? — see what drove the B- 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 +23.1/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Schools +5.1/10.0
• Appreciation +4.1/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0

Listing remarks

Rarely available and highly coveted, Unit 314 at Montauk Manor is one of only two three-bedroom, two-bathroom residences in the building. This exceptional offering boasts sweeping water views from all three generously sized bedrooms, creating a serene coastal retreat. The primary bedroom features an en-suite bathroom. The sun-drenched living area and kitchen are wrapped in windows, inviting in natural light and showcasing the surrounding beauty. A private balcony provides ample seating to take in the views. Montauk Manor residents enjoy a full suite of resort-style amenities, including beautifully landscaped grounds with BBQ areas, tennis courts, outdoor and indoor pools, a fully equipped f

Key facts

• Landscaped grounds
• Private balcony
• Tennis courts

Tags

• PRIVATE BALCONY
• RESORT-STYLE AMENITIES
• LANDSCAPED GROUNDS
• BBQ AREAS
• TENNIS COURTS
• OUTDOOR POOLS

Property features AI

Finance

• HOA & community: Has association; Monthly association fee of $5,800; Association includes cable TV, common area maintenance, exterior maintenance, heat, internet, pool service, sewer, snow removal, trash, and water; Association amenities: business center, concierge, elevators, fitness center, landscaping, lounge, grounds maintenance, pool, tennis courts

Exterior

• Parking: Parking lot (no carport)
• Utilities: Public sewer; Cable connected; Electricity connected; Water connected
• Home design: Condominium
• Construction: Construction materials: other; Foundation: other
• Exterior features: In-ground pool (indoor and outdoor); Property is not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Open floorplan; 7 total rooms; No basement; Attic: none; Entry level is 3; Pets allowed
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $1.05M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($19k rent vs $1.05M).
• Recommended offer: $987k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#474 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A; Watch: housing C-, amenities F, commute F.
• Montauk Union Free School District (town): math 50% / reading 60% proficiency, ranked #311 of 755 in NY (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Montauk School (math 62% / reading 82%, grade A-, #378 of 2,108 statewide, top 20%, 303 students, 0% FRL) — zoned schools average 0% FRL vs 21% district-wide (21 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 72% at this address vs 55% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Montauk Union Free School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 39 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• At $18,916/mo this rent would consume 159% of the median local household income ($143k/yr) (locally 20% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $7k of loan paydown is wiped out by about $19k 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.
• At projected returns (-1.8% appreciation + 3.0% rent growth), your $294k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($987k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent; built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $986,530 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 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 1926 — 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. 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.
8. 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.
9. 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: 1.80% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.72%
• DSCR: 1.34
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.78% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $8,757
• Equity at exit: $214,525

10-year hold

• IRR: 8.6%
• Equity multiple: 1.77×
• Total profit: $227,527
• Equity at exit: $193,636

Cash invested: $293,860 (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 11954

• Home prices YoY: -0.3%
• Active inventory: 39
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $18,916 medium
• Mortgage (P&I): −$5,504
• Tax est. 1.5%: −$1,312 /mo · $15,742/yr
• Insurance: −$437
• HOA: −$5,800
• Vacancy / Maint / Mgmt: −$3,972
• Net cashflow: $1,891

Break-even live

Break-even rent $16,523

Max offer price $1,049,500

Occupancy floor 85%

Sensitivity live

Price	-10% $2,616	-5% $2,253	+0% $1,891	+5% $1,528	+10% $1,165
Rent	-10% $396	-5% $1,143	+0% $1,891	+5% $2,638	+10% $3,385
Rate	-1.0pp $2,419	-0.5pp $2,158	base $1,891	+0.5pp $1,619	+1.0pp $1,342

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: $262,375
• Closing costs: $31,485
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3 Bayberry Rd Montauk, NY	3.0	2.0	1200	$19,500	$16.25	25d	1	1.35mi

HOA detail condo

• Monthly dues: $5,800 · $69,600/yr
• Likely covers: waterlandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-21
   days on market $1,049,500 Active 89 DOM
2. 2026-06-18
   days on market $1,049,500 Active 86 DOM
3. 2026-06-17
   days on market $1,049,500 Active 85 DOM
4. 2026-06-16
   days on market $1,049,500 Active 84 DOM
5. 2026-06-15
   days on market $1,049,500 Active 83 DOM
6. 2026-06-13
   days on market $1,049,500 Active 81 DOM
7. 2026-06-13
   days on market $1,049,500 Active 80 DOM
8. 2026-06-09
   days on market $1,049,500 Active 77 DOM
9. 2026-06-08
   days on market $1,049,500 Active 76 DOM
10. 2026-06-07
    days on market $1,049,500 Active 75 DOM
11. 2026-06-04
    days on market $1,049,500 Active 72 DOM
12. 2026-06-03
    days on market $1,049,500 Active 71 DOM
13. 2026-06-02
    remarks 699-char remark
14. 2026-06-02
    listed $1,049,500 Active 70 DOM

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

Taxation est. · year 1

• Rental income: $226,989
• − Mortgage interest: −$58,788
• − Property taxes: −$15,742
• − Insurance: −$5,248
• − Repairs & maintenance: −$18,159
• − Management: −$18,159
• − HOA: −$69,600
• − Depreciation: −$30,531
• Taxable income: $10,762
• Est. tax owed @ 24.0%: −$2,583
• After-tax cash flow: $20,104/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This three-bedroom, two-bathroom condo is in good condition with minimal repairs needed. It offers a good return on investment with updates that can significantly increase its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Updating the flooring — New flooring can improve both resale and rental value.
• Both Upgrading the kitchen appliances — Modern appliances can attract more buyers and renters.
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value.
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the property more attractive to tech-savvy buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Updating the flooring — New flooring can improve both resale and rental value. ↑
• Both Upgrading the kitchen appliances — Modern appliances can attract more buyers and renters. ↑
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value. ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the property more attractive to tech-savvy buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Montauk Union Free School District
• NCES district ID: 3619710
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 60% ▬ 0.00%
• Median HH income: $73,702
• Composite: 50.99/100
• National rank: #3831
• State rank: #311 of 755 in NY

Livability — Montauk

• Score: 69/100
• State rank: #474
• US rank: #8373

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montauk, NY
• County: Suffolk County · 679,920 people
• City population: 4,223
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 4,223
• Household income: $142,961
• Rent vs Own: 21.3% rent · 78.7% own
• Severe rent burden: 20.0

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Two or more races 4% Black 1%
• Hispanic origin (detail): Mexican 2% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 3% Italian 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 4% Russian/Polish/Slavic 4% Other Indo-European 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: ▼ -1.78%
• Current HPI: 577.7344
• 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

-12.5% since first listed

3 events — show timeline

• 2026-06-02 Price Changed $1,049,500 OneKey® MLS as Distributed by MLS Grid
• 2026-05-19 Price Changed $1,049,996 OneKey® MLS as Distributed by MLS Grid
• 2026-03-24 Listed $1,200,000 OneKey® MLS as Distributed by MLS Grid