231 Dune Rd #905 · Westhampton Beach, NY 11978

$729,000

1 bd · 1.0 ba · 500 sqft · Condo · 277 Days on market

Built 1987 $1458/sqft · 44% above area Est $507k · 44% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +6.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Discover this beautifully renovated waterfront co-op in the exclusive, private section building of The Ocean Resort at Bath & Tennis, the only full-service resort marina in Westhampton Beach. This chic, cozy, double unit with Living room, loft, cathedral ceiling with skylight, gallery kitchen, bedroom, and bathroom. Amenities of complex included for up to 10. This is an excellent investment opportunity for ownership/rental possibilities! **Resort Highlights:** - Private Beach Access: Enjoy 500 feet of pristine ocean beach with attentive staff providing towels, chairs, and umbrellas. - Saltwater Pools: Relax by the 30x75 heated T-shaped pool (3'-10' deep) complete with a poolside bar. - Marina Facilities: 51 slips for seasonal or transient docking, with jet boat and jet ski ramps, operating from May 1 to October 15. - Recreation & Wellness: Five tennis courts, a state-of-the-art gym, and a spa/salon for ultimate relaxation. - Dining & Convenience: On-site restaurant and tiki snack bar, plus a business center with computer, printer, copier, & fax services. Wi-Fi throughout the resort. - Additional Services: Self-service laundry, optional laundry and housekeeping services, and a complimentary shuttle to Westhampton Beach Village. - Event & Parking Options: Perfect for special events and meetings, with parking and valet services for guests. Located steps from Main Street and nestled along Dune Road, this large resort offers the ultimate blend of luxury and convenience. Don’t miss your chance to own a piece of this premier waterfront destination!

Key facts

• Waterfront co-op
• Saltwater pools
• Tennis courts

Tags

• WATERFRONT CO-OP
• PRIVATE BEACH ACCESS
• SALTWATER POOLS
• MARINA FACILITIES
• TENNIS COURTS
• STATE-OF-THE-ART GYM

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $729k.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $729k).
• Recommended offer: $642k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 9.3% in Westhampton Beach — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $12,745/mo this rent would consume 122% 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 $78k of equity ($5k loan paydown + $73k 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 $204k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$125k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 277 days — a 12% lower offer ($642k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• 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 $641,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 277 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.75% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.71%
• DSCR: 1.83
• GRM: 4.8

CMA / ARV

• ARV (median comp): $506,617
• List price: $729,000
• Delta: 43.90%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 38.0%
• Equity multiple: 3.92×
• Total profit: $596,882
• Equity at exit: $656,741

10-year hold

• IRR: 32.7%
• Equity multiple: 8.86×
• Total profit: $1,604,357
• Equity at exit: $1,416,287

Cash invested: $204,120 (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: 4.8×

Monthly cashflow live

• Estimated rent: $12,745 medium
• Mortgage (P&I): −$3,823
• Tax est. 1.5%: −$911 /mo · $10,935/yr
• Insurance: −$304
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA est. from 1 same-building comp: −$1,848
• Vacancy / Maint / Mgmt: −$2,677
• Net cashflow: $3,116

Break-even live

Break-even rent $8,801

Max offer price $729,000

Occupancy floor 71%

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: $182,250
• Closing costs: $21,870
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
260 Dune Rd Westhampton Beach, NY	2.0	2.0	550	$26,000	$47.27	7d	2	0.26mi
274 Dune Rd Unit 9 Westhampton Beach, NY	1.0	1.0	506	$10,500	$20.75	21d	1	0.35mi
274 Dune Rd #19 Westhampton Beach, NY	1.0	1.0	684	$12,000	$17.54	10d	1	0.35mi
274 Dune Rd #6 Westhampton Beach, NY	1.0	1.0	565	$5,000	$8.85	43d	1	0.36mi
424 Main St Westhampton Beach, NY	2.0	1.0	632	$10,000	$15.82	18d	1	1.44mi

HOA detail condo

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

Listing history 17 events

1. 2026-06-18
   days on market $729,000 Active 277 DOM
2. 2026-06-17
   days on market $729,000 Active 276 DOM
3. 2026-06-16
   days on market $729,000 Active 275 DOM
4. 2026-06-15
   days on market $729,000 Active 274 DOM
5. 2026-06-13
   days on market $729,000 Active 272 DOM
6. 2026-06-09
   days on market $729,000 Active 268 DOM
7. 2026-06-08
   days on market $729,000 Active 267 DOM
8. 2026-06-07
   days on market $729,000 Active 266 DOM
9. 2026-06-04
   days on market $729,000 Active 263 DOM
10. 2026-06-03
    days on market $729,000 Active 262 DOM
11. 2026-06-02
    days on market $729,000 Active 261 DOM
12. 2026-06-01
    days on market $729,000 Active 260 DOM
13. 2026-05-31
    days on market $729,000 Active 259 DOM
14. 2026-01-15
    price $729,000 1597-char remark

    Show marketing remark (1597 chars)

    Discover this beautifully renovated waterfront co-op in the exclusive, private section building of The Ocean Resort at Bath & Tennis, the only full-service resort marina in Westhampton Beach. This chic, cozy, double unit with Living room, loft, cathedral ceiling with skylight, gallery kitchen, bedroom, and bathroom. Amenities of complex included for up to 10. This is an excellent investment opportunity for ownership/rental possibilities! **Resort Highlights:** - Private Beach Access: Enjoy 500 feet of pristine ocean beach with attentive staff providing towels, chairs, and umbrellas. - Saltwater Pools: Relax by the 30x75 heated T-shaped pool (3'-10' deep) complete with a poolside bar. - Marina Facilities: 51 slips for seasonal or transient docking, with jet boat and jet ski ramps, operating from May 1 to October 15. - Recreation & Wellness: Five tennis courts, a state-of-the-art gym, and a spa/salon for ultimate relaxation. - Dining & Convenience: On-site restaurant and tiki snack bar, plus a business center with computer, printer, copier, & fax services. Wi-Fi throughout the resort. - Additional Services: Self-service laundry, optional laundry and housekeeping services, and a complimentary shuttle to Westhampton Beach Village. - Event & Parking Options: Perfect for special events and meetings, with parking and valet services for guests. Located steps from Main Street and nestled along Dune Road, this large resort offers the ultimate blend of luxury and convenience. Don’t miss your chance to own a piece of this premier waterfront destination!

15. 2025-09-14
    listed $749,000 Active 1597-char remark

    Show marketing remark (1597 chars)

    Discover this beautifully renovated waterfront co-op in the exclusive, private section building of The Ocean Resort at Bath & Tennis, the only full-service resort marina in Westhampton Beach. This chic, cozy, double unit with Living room, loft, cathedral ceiling with skylight, gallery kitchen, bedroom, and bathroom. Amenities of complex included for up to 10. This is an excellent investment opportunity for ownership/rental possibilities! **Resort Highlights:** - Private Beach Access: Enjoy 500 feet of pristine ocean beach with attentive staff providing towels, chairs, and umbrellas. - Saltwater Pools: Relax by the 30x75 heated T-shaped pool (3'-10' deep) complete with a poolside bar. - Marina Facilities: 51 slips for seasonal or transient docking, with jet boat and jet ski ramps, operating from May 1 to October 15. - Recreation & Wellness: Five tennis courts, a state-of-the-art gym, and a spa/salon for ultimate relaxation. - Dining & Convenience: On-site restaurant and tiki snack bar, plus a business center with computer, printer, copier, & fax services. Wi-Fi throughout the resort. - Additional Services: Self-service laundry, optional laundry and housekeeping services, and a complimentary shuttle to Westhampton Beach Village. - Event & Parking Options: Perfect for special events and meetings, with parking and valet services for guests. Located steps from Main Street and nestled along Dune Road, this large resort offers the ultimate blend of luxury and convenience. Don’t miss your chance to own a piece of this premier waterfront destination!

16. 2017-03-01
    historical
17. 2016-08-15
    listed $429,000 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 7/10 Severe FEMA zone X (unshaded) · 59% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 8 d/yr ≥90°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $152,943
• − Mortgage interest: −$40,835
• − Property taxes: −$10,935
• − Insurance: −$4,442
• − Repairs & maintenance: −$12,235
• − Management: −$12,235
• − HOA: −$22,176
• − Depreciation: −$21,207
• Taxable income: $28,876
• Est. tax owed @ 24.0%: −$6,930
• After-tax cash flow: $30,466/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

+69.9% since first listed

4 events — show timeline

• 2026-01-15 Price Changed $729,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-14 Listed $749,000 OneKey® MLS as Distributed by MLS Grid
• 2017-03-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-08-15 Listed $429,000 OneKey® MLS as Distributed by MLS Grid