19 Academy St · Patchogue, NY 11772

$625,000

4 bd · 2.0 ba · 1,532 sqft · MultiFamily public records · 45 Days on market

Built 1910 7,405 sqft lot Est $565k · 11% over

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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 +11.3/30.0
• Schools +6.7/10.0
• 1% rule +4.4/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• DSCR +3.3/10.0
• ARV discount +2.7/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Legal 2 Family - Great investment opportunity

Key facts

• 7,405 sq ft lot
• Built 1910
• Listed 45 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $625k.

Deal economics

• At list price, monthly cash flow is $-227 ($-3k/yr) — negative. Per door: $-114/mo.
• To cash-flow at today's rent, offer at most $585k (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $585k (6.4% below list).
• Recommended offer: $585k (6.4% below list) — sets the bar for cash-flow.
• Cap rate 5.9% 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); 219 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• At $5,849/mo this rent would consume 67% of the median local household income ($105k/yr) (locally 1595% 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 (-3.0%/yr); year-one equity from $4k 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.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($606k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.
• Current owner paid $425k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $584,882 (6.4% below list)

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. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.94% ✗
• Cap rate: 5.86%
• Cash-on-cash: -1.56%
• DSCR: 0.93
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $565,308
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19 Academy St	0.00mi	4/2.0	1,532 (0%)	1mo	$565,000	$369	99
13 Academy St	0.02mi	3/2.0 (-1)	1,639 (+7%)	2mo	$510,000	$311	81

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -16.2%
• Equity multiple: 0.41×
• Total profit: $-102,895
• Equity at exit: $93,190

10-year hold

• IRR: -4.2%
• Equity multiple: 0.70×
• Total profit: $-53,319
• Equity at exit: $54,039

Cash invested: $175,000 (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: 219
• Price-to-rent: 17.8×

Monthly cashflow live

• Estimated rent: $5,849 high
• Mortgage (P&I): −$3,278
• Tax from tax record: −$1,310 /mo · $15,718/yr
• Insurance: −$260
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,228
• Net cashflow: $-227

Break-even live

Break-even rent $6,136

Max offer price $584,882

Occupancy floor 99%

Sensitivity live

Price	-10% $127	-5% $-50	+0% $-227	+5% $-404	+10% $-581
Rent	-10% $-689	-5% $-458	+0% $-227	+5% $4	+10% $235
Rate	-1.0pp $88	-0.5pp $-68	base $-227	+0.5pp $-389	+1.0pp $-554

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,848
Total (2 units)			$5,849

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: $156,250
• Closing costs: $18,750
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
39 Laurel St Patchogue, NY	3.0	2.0	1100	$3,400	$3.09	26d	1	0.51mi
104 River Ave Patchogue, NY	3.0	1.0	1100	$3,100	$2.82	1d	1	0.52mi
96 River Ave Patchogue, NY	3.0	1.0	2102	$3,100	$1.47	0d	1	0.52mi
17 Mott St Patchogue, NY	3.0	2.0	1326	$3,850	$2.90	0d	1	0.69mi
143 N Summit Ave Patchogue, NY	3.0	1.0	1400	$4,800	$3.43	0d	1	1.00mi

Listing history 12 events

1. 2026-03-14
   status Pending
2. 2026-01-29
   listed $625,000 Active
3. 2026-01-17
   historical $625,000
4. 2022-08-18
   soldstatus $425,150
5. 2022-06-06
   soldstatus $425,150 Closed 45-char remark

   Show marketing remark (45 chars)

   Legal 2 Family - Great investment opportunity

6. 2022-04-01
   status Pending 45-char remark

   Show marketing remark (45 chars)

   Legal 2 Family - Great investment opportunity

7. 2022-02-23
   status Active 45-char remark

   Show marketing remark (45 chars)

   Legal 2 Family - Great investment opportunity

8. 2022-02-22
   historical 45-char remark

   Show marketing remark (45 chars)

   Legal 2 Family - Great investment opportunity

9. 2022-02-15
   listed $450,000 Active 45-char remark

   Show marketing remark (45 chars)

   Legal 2 Family - Great investment opportunity

10. 2005-10-04
    soldstatus $330,000
11. 1996-02-28
    soldstatus $74,000
12. 1989-12-14
    soldstatus $100,000

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $15,718 · $1,310/mo
• Projected year-2 tax: $15,718 · $1,310/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $70,188
• − Mortgage interest: −$35,010
• − Property taxes: −$15,718
• − Insurance: −$3,125
• − Repairs & maintenance: −$5,615
• − Management: −$5,615
• − Depreciation: −$18,182
• Taxable loss: −$13,077
• Est. tax savings @ 24.0%: +$3,138
• After-tax cash flow: $413/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

+525.0% since first listed

12 events — show timeline

• 2026-03-14 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-29 Listed $625,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-17 Coming Soon $625,000 OneKey® MLS as Distributed by MLS Grid
• 2022-08-18 Sold (Public Records) $425,150 Public Records
• 2022-06-06 Sold (MLS) $425,150 OneKey® MLS as Distributed by MLS Grid
• 2022-04-01 Pending — OneKey® MLS as Distributed by MLS Grid
• 2022-02-23 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2022-02-22 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-02-15 Listed $450,000 OneKey® MLS as Distributed by MLS Grid
• 2005-10-04 Sold (Public Records) $330,000 Public Records
• 1996-02-28 Sold (Public Records) $74,000 Public Records
• 1989-12-14 Sold (Public Records) $100,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $15,718 · +0.2% YoY. Source: county tax records.