77 N Woods Rd

Calverton, NY 11933

$935,000D+

4 bd · 2.5 ba · 2,360 sqft · Built 2003 · SingleFamily · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $9,006/mo
• Mortgage (P&I): −$4,903
• Tax + insurance: −$1,477
• HOA: −$0
• Vac / Maint / Mgmt: −$1,891
• Net cashflow: $735/mo
• Annual: $8,818/yr
• Cap rate: 7.24%
• Cash-on-cash: 3.37%
• DSCR: 1.15
• 1% rule: 0.96%
• Cash to close: $261,800

Investor read

• This is a 4-bed/2.5-bath single-family listed at $935k.
• At list price, monthly cash flow is $735 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $901k (3.7% below list).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $901k (3.7% below list) — sets the bar for 1% rule.
• In year one you build about $37k of equity ($6k loan paydown + $30k appreciation (3.3% local appreciation)).
• Location reads 58/100 on livability (#1,053 in NY) — a working-class tenant base; expect higher turnover. Watch: crime C-, employment D, amenities F.
• Riverhead Central School District (suburban): math 34% / reading 48% proficiency, ranked #489 of 590 in NY (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Riley Avenue School (math 42% / reading 52%, grade D-, #1,195 of 2,108 statewide, top 60%, 461 students, 34% FRL); Riverhead Middle School (math 18% / reading 35%, grade F, #594 of 729 statewide, top 81%, 827 students, 57% FRL); Riverhead Senior High School (math 80% / reading 86%, grade A, #440 of 1,100 statewide, top 40%, 2,001 students, 52% FRL).
• Market conditions: 84 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.3% appreciation + 3.0% rent growth), your $262k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.