260 Waverly Ave #49 · Patchogue, NY 11772

$240,000

1 bd · 1.0 ba · 800 sqft · Condo · 5 Days on market

Built 1975

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Why this score? — see what drove the D+ 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 +11.1/30.0
• ARV discount +7.5/15.0
• Schools +6.7/10.0
• 1% rule +6.3/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully updated & move-in ready first floor end unit, 1 bedroom, 1 bath, co-op. Ideally located in the heart of Patchogue Village & complimented by tasteful updates throughout, makes it a standout opportunity for buyers seeking convenience & comfort. Recent improvements include new flooring in the bedroom & new carpeting in the living area, creating a fresh, modern feel that’s ready for you to enjoy from day one. Enjoy the unbeatable location, just minutes from the LIRR for an easy commute & close to the Fire Island ferries, providing quick access to Long Island’s renowned beaches & waterfront destinations. You’ll als

Key facts

• Updated
• New carpeting
• First floor end unit

Tags

• FIRST FLOOR END UNIT
• UPDATED
• NEW FLOORING
• NEW CARPETING
• CLOSE TO FIRE ISLAND FERRIES
• SHORT DISTANCE TO LOCAL SHOPS

Property features AI

Finance

• HOA & community: Association: Greenview Properties; Association fees include exterior maintenance, gas, heat, sewer, snow removal, trash, and water

Exterior

• Parking: Parking lot (no carport)
• Utilities: Public sewer; Natural gas connected
• Home design: Stock cooperative; Entry on level 1; Unit occupies one level
• Construction: Brick and frame construction
• Exterior features: Brick and frame construction; Not waterfront

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stainless steel appliances
• Bedrooms: Bedroom located on the first floor
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating; Natural gas heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; No basement; Total of four rooms; Two stories in the building; unit on one level with entry at level 1; Pets allowed (call for details)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $240k.

Deal economics

• At list price, monthly cash flow is $-95 ($-1k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Cap rate 5.8% vs local median 3.4% in Patchogue — 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 80/100 on livability (#108 in NY, #1,800 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities D-, cost of living F.
• Patchogue-Medford Union Free School District (suburban): math 83% / reading 69% proficiency, ranked #73 of 590 in NY (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: River Elementary School (math 75%, 300 students, 47% FRL); South Ocean Middle School (math 75%, 599 students, 57% FRL); Patchogue-Medford High School (math 89% / reading 67%, grade A-, #577 of 1,100 statewide, top 52%, 2,443 students, 53% FRL) — zoned schools average 52% FRL vs 35% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.1%/yr); 216 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• This rent runs 31% of the median local income ($105k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 14y 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: HOA is 22% of rent.
• Climate carrying-cost: major wind risk, 77% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $240,000

Questions for the listing agent

1. 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?
2. Built in 1975 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
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: 1.13% ✓
• Cap rate: 5.82%
• Cash-on-cash: -1.70%
• DSCR: 0.92
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.07% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.42×
• Total profit: $-38,763
• Equity at exit: $35,785

10-year hold

• IRR: -3.0%
• Equity multiple: 0.77×
• Total profit: $-15,146
• Equity at exit: $20,751

Cash invested: $67,200 (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 11772

• Rents YoY: 5.1%
• Active inventory: 216
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,723 high
• Mortgage (P&I): −$1,259
• Tax est. 1.5%: −$300 /mo · $3,600/yr
• Insurance: −$100
• HOA est. from 2 same-building comps: −$588
• Vacancy / Maint / Mgmt: −$572
• Net cashflow: $-95

Break-even live

Break-even rent $2,844

Max offer price $226,223

Occupancy floor 98%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
177 Waverly Ave Unit Second Floor Patchogue, NY	2.0	1.0	835	$2,995	$3.59	6d	1	0.24mi
116 Waverly Ave Unit 8 Patchogue, NY	1.0	1.0	730	$2,895	$3.97	44d	1	0.40mi
116 Waverly Ave Unit 7 Patchogue, NY	1.0	1.0	722	$2,795	$3.87	44d	1	0.40mi
99 Waverly Ave Patchogue, NY	1.0–2.0	1.0–2.0	928	$2,381	$2.57	1d	9	0.46mi
34 Union Ave Patchogue, NY	2.0	1.0	1000	$3,000	$3.00	5d	1	0.69mi
20 Spruce Dr Holbrook, NY	1.0–2.0	1.0–2.0	864	$2,500	$2.89	1d	23	0.76mi
22 Jennings Ave Unit B Patchogue, NY	2.0	1.0	919	$3,000	$3.26	1d	1	0.76mi
1 Village Green Way Patchogue, NY	1.0–2.0	1.0–2.0	947	$2,877	$3.04	1d	7	0.82mi
90 E Main St Unit 2 Patchogue, NY	1.0	1.0	750	$2,300	$3.07	44d	1	1.03mi
80 Division St Unit 2B Patchogue, NY	2.0	2.0	1100	$3,500	$3.18	44d	1	1.10mi
80 Division St Unit 1C Patchogue, NY	1.0	1.0	860	$2,800	$3.26	20d	1	1.10mi
80 Division St Patchogue, NY	1.0	1.0	860	$3,200	$3.72	1d	1	1.10mi
80 Division St Patchogue, NY	2.0	1.0	1000	$3,100	$3.10	25d	1	1.10mi
80 Division St Unit 2c Patchogue, NY	1.0	1.0	860	$3,200	$3.72	44d	1	1.10mi
80 Division St Unit 204 Patchogue, NY	1.0	1.0	860	$2,800	$3.26	44d	1	1.10mi
80 Division St Unit 3d Patchogue, NY	1.0	1.0	860	$3,600	$4.19	44d	1	1.10mi
234 River Ave Patchogue, NY	2.0	1.0	687	$2,390	$3.48	1d	1	1.26mi
68 Winges Ave Patchogue, NY	1.0	1.0	800	$2,000	$2.50	44d	1	1.30mi
830 Terrace Rd Unit I8-830 Bayport, NY	1.0	1.0	715	$2,465	$3.45	22d	1	1.41mi
512 Terrace Rd Unit T13-512 Bayport, NY	1.0	1.0	775	$2,500	$3.23	22d	1	1.50mi

HOA detail condo

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

Listing history 4 events

1. 2026-06-15
   days on market $240,000 Active 5 DOM
2. 2026-06-13
   days on market $240,000 Active 3 DOM
3. 2026-06-13
   remarks 657-char remark
4. 2026-06-13
   listed $240,000 Active 2 DOM

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥93°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,679
• − Mortgage interest: −$13,444
• − Property taxes: −$3,600
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,614
• − Management: −$2,614
• − HOA: −$7,056
• − Depreciation: −$6,982
• Taxable loss: −$4,831
• Est. tax savings @ 24.0%: +$1,159
• After-tax cash flow: $17/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: Patchogue-Medford Union Free School District
• NCES district ID: 3622470
• Math proficiency: 83% ▲ 27.00%
• Reading proficiency: 69% ▲ 15.00%
• Median HH income: $75,120
• Composite: 66.81/100
• National rank: #405
• State rank: #73 of 590 in NY

Livability — Patchogue

• Score: 80/100
• State rank: #108
• US rank: #1800

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Patchogue, NY
• County: Suffolk County · 679,920 people
• City population: 45,023
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 45,023
• Household income: $105,245
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 1595.0

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 24% Two or more races 8% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 15% · Canada, Jamaica, China
• Languages at home: 78% English-only · Spanish 15% Other Asian/Pacific 2% 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: ▼ -578.02%
• Current HPI: 375.1174
• Rent YoY: ▲ 5.07%
• 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

+140.0% since first listed

7 events — show timeline

• 2026-06-09 Listed $240,000 OneKey® MLS as Distributed by MLS Grid
• 2015-09-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-08-20 Price Changed $70,000 OneKey® MLS as Distributed by MLS Grid
• 2015-08-11 Price Changed $90,000 OneKey® MLS as Distributed by MLS Grid
• 2015-07-09 Listed $80,000 OneKey® MLS as Distributed by MLS Grid
• 2012-12-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-08-14 Listed $99,990 OneKey® MLS as Distributed by MLS Grid