77 N Phillips Ave · Remsenburg-Speonk, NY 11972

$899,999

4 bd · 1.0 ba · 1,827 sqft · Other public records · 28 Days on market

Built 1991 0.75 ac lot

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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
• ARV discount +7.5/15.0
• Appreciation +6.2/10.0
• Schools +6.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity knocks. 77 and 77A N Phillips Ave. 2 homes on 1 property. 3/4 acre next to the train station. New development being built next door. 4brs, 1 bth front house. 2br 1 bath back barn. New oil burners and new roofs on both homes. 2 separate electric meters. The 2 br has a renovated kitchen and bath. Hardwood Floors and tile as shown. Can be purchased with or without existing tenants. 48 hr notice required for showings. Please do not disturb the tenants. These are old photos. New photos coming soon.

Key facts

• New oil burners
• New roofs
• Renovated kitchen

Tags

• 2 HOMES ON 1 PROPERTY
• NEXT TO THE TRAIN STATION
• NEW DEVELOPMENT BEING BUILT
• NEW OIL BURNERS
• NEW ROOFS
• RENOVATED KITCHEN

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $900k.

Deal economics

• At list price, monthly cash flow is $6k ($77k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $900k).
• Recommended offer: $886k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 6.4% in Remsenburg-Speonk — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Eastport-South Manor CSD (suburban): math 62% / reading 69% proficiency, ranked #147 of 590 in NY (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Market conditions: 6 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); 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).

Forward outlook

• In year one you build about $29k of equity ($6k loan paydown + $22k appreciation (2.5% 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 (2.5% appreciation + 3.0% rent growth), your $252k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$72k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($886k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $740k; 22% 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 $886,499 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.73% ✓
• Cap rate: 14.81%
• Cash-on-cash: 30.43%
• DSCR: 2.35
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.48% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.4%
• Equity multiple: 2.95×
• Total profit: $491,066
• Equity at exit: $378,735

10-year hold

• IRR: 36.0%
• Equity multiple: 5.80×
• Total profit: $1,208,984
• Equity at exit: $564,255

Cash invested: $252,000 (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 11972

• Home prices YoY: 1.1%
• Active inventory: 6
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $15,598 medium
• Mortgage (P&I): −$4,720
• Tax from tax record: −$838 /mo · $10,053/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,276
• Net cashflow: $6,390

Break-even live

Break-even rent $7,509

Max offer price $899,999

Occupancy floor 54%

Sensitivity live

Price	-10% $6,899	-5% $6,645	+0% $6,390	+5% $6,135	+10% $5,880
Rent	-10% $5,158	-5% $5,774	+0% $6,390	+5% $7,006	+10% $7,622
Rate	-1.0pp $6,843	-0.5pp $6,619	base $6,390	+0.5pp $6,157	+1.0pp $5,919

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: $225,000
• Closing costs: $27,000
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
134A Montauk Hwy Westhampton, NY	4.0	3.5	2478	$15,000	$6.05	0d	1	1.08mi
70 Jagger Ln Westhampton, NY	3.0	2.0	1850	$20,000	$10.81	0d	1	1.17mi
25 N Quarter Rd Westhampton, NY	4.0	3.0	2000	$30,000	$15.00	18d	1	1.29mi
35 Halsey Rd Remsenburg, NY	3.0	2.0	2345	$10,000	$4.26	0d	1	1.32mi
510 Montauk Hwy Eastport, NY	3.0	1.0	1450	$3,250	$2.24	45d	1	1.47mi

Listing history 5 events

1. 2026-03-09
   status Pending
2. 2026-02-12
   status Active
3. 2026-01-25
   listed $899,999 Active
4. 2023-03-18
   soldstatus $740,025
5. 2023-03-18
   soldstatus $740,025

ⓘ 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: $10,053 · $838/mo
• Projected year-2 tax: $12,631 · $1,053/mo
• Expected delta: +$2,579/yr (+$215/mo · 25.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥91°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $187,175
• − Mortgage interest: −$50,414
• − Property taxes: −$10,053
• − Insurance: −$4,500
• − Repairs & maintenance: −$14,974
• − Management: −$14,974
• − Depreciation: −$26,182
• Taxable income: $66,078
• Est. tax owed @ 24.0%: −$15,859
• After-tax cash flow: $60,820/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: Eastport-South Manor CSD
• NCES district ID: 3600125
• Math proficiency: 62% ▼ -1.00%
• Reading proficiency: 69% ▲ 3.00%
• Median HH income: $91,204
• Composite: 59.55/100
• National rank: #918
• State rank: #147 of 590 in NY

Livability — Remsenburg-Speonk

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Remsenburg-Speonk, NY
• City population: 1,346
• Population (ZIP): 309

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 (99%)
• Race & ethnicity: White 99%
• Common ancestry: Romanian 9%
• Foreign-born: 4%
• Languages at home: 92% English-only · Russian/Polish/Slavic 8%

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: ▲ 2.48%
• Current HPI: 231.8516
• Rent YoY: —
• Metro: —
• 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

+21.6% since first listed

5 events — show timeline

• 2026-03-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-12 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-01-25 Listed $899,999 OneKey® MLS as Distributed by MLS Grid
• 2023-03-18 Sold (Public Records) $740,025 Public Records
• 2023-03-18 Sold (Public Records) $740,025 Public Records

Property tax history

+6.9%/yr

Latest (2022): $10,053 · +0.0% YoY. Source: county tax records.