34 Harbor Blvd · Springs, NY 11937

$1,939,000

3 bd · 2.0 ba · 1,500 sqft · SingleFamily · 41 Days on market

Built 1977 0.53 ac lot $1293/sqft · 44% above area Est $1349k · 44% over

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Why this score? — see what drove the C- 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 +25.1/30.0
• DSCR +8.2/10.0
• 1% rule +5.5/10.0
• Schools +5.1/10.0
• Rent growth +5.0/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss this opportunity to own a designer's own piece of East Hampton! Tucked away on a quiet corner lot of just over 0.63 acres, this three-bedroom, two-bath Saltbox blends Hamptons charm with modern upgrades and sustainable living. Inside, the sun-drenched living room showcases a dramatic floor-to-ceiling brick fireplace and glass sliders leading to an expansive new 3,000± sq. ft. mahogany deck-perfect for entertaining or quiet relaxation. This special home has been thoughtfully updated and features a brand-new solar system, a high-efficiency heat pump, a new HVAC system, and a universal EV charger to minimize energy costs and environmental impact. Additional enhancements inclu

Key facts

• Universal ev charger
• New mahogany deck
• New hvac system

Tags

• NEW MAHOGANY DECK
• BRAND NEW SOLAR SYSTEM
• HIGH EFFICIENCY HEAT PUMP
• NEW HVAC SYSTEM
• UNIVERSAL EV CHARGER
• WHOLE HOUSE DEHUMIDIFIER

Property features AI

Exterior

• Parking: Driveway (no carport)
• Utilities: Septic tank; Natural gas available
• Home design: Single family residence
• Construction: Wood siding construction
• Exterior features: Private pool; Wood siding; Not waterfront

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range
• Bedrooms: 7 rooms total
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning; Wood-burning fireplace (1)
• Interior features: First floor full bath; Eat-in kitchen; Entrance foyer; Unfinished attic; Unfinished basement
• Laundry & utility: Basement utility space

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $1.94M.

Deal economics

• At list price, monthly cash flow is $4k ($52k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($20k rent vs $1.94M).
• Recommended offer: $1.88M (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#809 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing C-, schools D-, amenities F.
• Springs Union Free School District (town): math 55% / reading 60% proficiency, ranked #239 of 590 in NY (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 9% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+12.3%/yr); 135 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $20,339/mo this rent would consume 188% of the median local household income ($130k/yr) (locally 896% 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 $13k of loan paydown is wiped out by about $58k 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 (-3.0% appreciation + 8.0% rent growth), your $543k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($1.88M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y 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 $1.40M; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,880,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.51%
• DSCR: 1.42
• GRM: 7.9

CMA / ARV

• ARV (median comp): $1,348,531
• List price: $1,939,000
• Delta: 43.79%
• Verdict: OVERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
65 Sandra Rd	0.45mi	2/1.5 (-1)	1,500 (0%)	5mo	$1,575,000	$1,050	68
158 Woodbine Dr	0.49mi	3/2.0	1,418 (-6%)	7mo	$1,075,000	$758	62
51 Cedar Ridge Dr	0.13mi	3/1.0	1,300 (-13%)	14mo	$1,100,000	$846	56
23 Squaw Rd	0.72mi	4/2.0 (+1)	1,500 (0%)	16mo	$1,610,000	$1,073	48

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 3.0%
• Equity multiple: 1.12×
• Total profit: $66,702
• Equity at exit: $289,111

10-year hold

• IRR: 16.6%
• Equity multiple: 2.65×
• Total profit: $897,433
• Equity at exit: $167,649

Cash invested: $542,920 (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 11937

• Rents YoY: 12.3%
• Active inventory: 135
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $20,339 medium
• Mortgage (P&I): −$10,168
• Tax from tax record: −$788 /mo · $9,454/yr
• Insurance: −$808
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,271
• Net cashflow: $4,304

Break-even live

Break-even rent $14,891

Max offer price $1,939,000

Occupancy floor 74%

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: $484,750
• Closing costs: $58,170
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
117 Woodbine Dr East Hampton, NY	3.0	2.0	1496	$65,000	$43.45	43d	1	0.39mi
289 Three Mile Harbor Hog Creek Rd East Hampton, NY	3.0	3.0	1600	$45,600	$28.50	43d	1	0.55mi
8 Beverly Rd East Hampton, NY	4.0	2.0	1269	$20,000	$15.76	1d	1	0.69mi
20 Howard St East Hampton, NY	3.0	2.5	2000	$75,000	$37.50	22d	1	0.79mi
3 Birdie Ln East Hampton, NY	3.0	2.5	2000	$15,000	$7.50	1d	1	1.28mi
319 Three Mile Harbor Rd East Hampton, NY	2.0	1.0	1100	$5,500	$5.00	1d	1	1.29mi
3 Forest Ct East Hampton, NY	3.0	2.0	1750	$50,000	$28.57	24d	1	1.33mi

Listing history 19 events

1. 2026-06-04
   days on market $1,939,000 Active 41 DOM
2. 2026-06-03
   days on market $1,939,000 Active 40 DOM
3. 2026-06-02
   days on market $1,939,000 Active 39 DOM
4. 2026-06-01
   days on market $1,939,000 Active 38 DOM
5. 2026-05-31
   days on market $1,939,000 Active 37 DOM
6. 2026-04-24
   listed $1,939,000 Active 1505-char remark
7. 2025-09-15
   listed $1,950,000 Active
8. 2025-09-15
   historical
9. 2025-09-06
   listed $1,950,000 Active
10. 2025-08-13
    soldstatus $1,400,000
11. 2025-07-22
    soldstatus $1,400,000 Closed
12. 2025-05-14
    status Pending
13. 2025-04-17
    price $1,495,000
14. 2025-03-27
    price $1,565,000
15. 2025-02-14
    status Active
16. 2024-12-20
    listed $1,595,000 Active
17. 2024-02-15
    listed $1,749,000 Active
18. 2022-06-18
    soldstatus $1,125,000
19. 2020-03-31
    soldstatus $600,000

ⓘ 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: $9,454 · $788/mo
• Projected year-2 tax: $21,112 · $1,759/mo
• Expected delta: +$11,658/yr (+$971/mo · 123.3%)

ⓘ 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 4/10 Moderate 7 d/yr ≥89°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $244,070
• − Mortgage interest: −$108,614
• − Property taxes: −$9,454
• − Insurance: −$9,695
• − Repairs & maintenance: −$19,526
• − Management: −$19,526
• − Depreciation: −$56,407
• Taxable income: $20,848
• Est. tax owed @ 24.0%: −$5,004
• After-tax cash flow: $46,643/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: Springs Union Free School District
• NCES district ID: 3627900
• Math proficiency: 55% ▲ 6.00%
• Reading proficiency: 60% ▲ 10.00%
• Median HH income: $75,413
• Composite: 51.42/100
• National rank: #1728
• State rank: #239 of 590 in NY

Livability — Springs

• Score: 63/100
• State rank: #809
• US rank: #15666

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springs, NY
• County: Suffolk County · 679,920 people
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 21,882
• Household income: $129,883
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 896.0

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: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 32% Two or more races 23% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 5% Scotch-Irish 4% Italian 2%
• Foreign-born: 25% · Canada, Guatemala, Jamaica
• Languages at home: 68% English-only · Spanish 28% Other Indo-European 1% 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: ▼ -285.21%
• Current HPI: 444.1499
• Rent YoY: ▲ 12.28%
• 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

+223.2% since first listed

14 events — show timeline

• 2026-04-24 Listed $1,939,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-15 Listed $1,950,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-09-06 Listed $1,950,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-13 Sold (Public Records) $1,400,000 Public Records
• 2025-07-22 Sold (MLS) $1,400,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-14 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-04-17 Price Changed $1,495,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-27 Price Changed $1,565,000 OneKey® MLS as Distributed by MLS Grid
• 2025-02-14 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-12-20 Listed $1,595,000 OneKey® MLS as Distributed by MLS Grid
• 2024-02-15 Listed $1,749,000 OneKey® MLS as Distributed by MLS Grid
• 2022-06-18 Sold (Public Records) $1,125,000 Public Records
• 2020-03-31 Sold (Public Records) $600,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $9,454 · +0.0% YoY. Source: county tax records.