74 Richardson Ave · Springs, NY 11937

$999,000

2 bd · 1.0 ba · 500 sqft · SingleFamily · 174 Days on market

Built 1950 1,742 sqft 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
• Schools +5.1/10.0
• Rent growth +5.0/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Ultimate Springs Waterfront Retreat: 74 Richardson Ave, East Hampton Rarely does a property combine authentic beach cottage charm with the exclusive lifestyle of a private boater's sanctuary. This meticulously maintained 2-bedroom, 1-bath retreat is more than a home; it is your gateway to the most coveted coastal experiences in the Springs. The Boater's Dream: Ideally positioned just moments from the pristine sands of Maidstone Park Beach. For the outdoor enthusiast, this means effortless access to Three Mile Harbor for boating, kayaking, and paddleboarding at a moment's notice. Casual Luxury & Effortless Living: The home’s "Coastal Chic" aesthetic is designed for a seamless indoor-outdoor flow. Sun-Drenched Deck: Perfect for morning coffee or sunset entertaining. Outdoor Shower: The essential Hamptons luxury for rinsing off after a day at the beach. Turnkey Potential: Whether you are looking for a stylish summer hideaway, a lucrative investment property, or a "cool" manageable residence, this cottage is reimagined for modern Hamptons living. Prime Location: Steps from the legendary Rita’s Cantina and the calm waters of the bay, 74 Richardson Ave is perfectly situated to capture the best of East Hampton. Simple, relaxed, and full of timeless allure—this is a rare opportunity to own a piece of the beach life that truly delivers.

Key facts

• Outdoor shower
• Sun-drenched deck
• 1,742 sq ft lot

Tags

• DEEDED MOORING RIGHTS
• OUTDOOR SHOWER
• SUN-DRENCHED DECK
• ACCESS TO THREE MILE HARBOR

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $999k.

Deal economics

• At list price, monthly cash flow is $5k ($65k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $999k).
• Recommended offer: $879k (12.0% 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; high-income renter base; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• At $15,544/mo this rent would consume 144% 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 $7k of loan paydown is wiped out by about $30k 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 $280k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 174 days — a 12% lower offer ($879k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $301k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $385k; list at $999k implies a 159% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $879,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 174 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.56% ✓
• Cap rate: 12.75%
• Cash-on-cash: 23.06%
• DSCR: 2.03
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 1.94×
• Total profit: $262,876
• Equity at exit: $148,954

10-year hold

• IRR: 32.8%
• Equity multiple: 4.73×
• Total profit: $1,044,601
• Equity at exit: $86,375

Cash invested: $279,720 (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: 5.4×

Monthly cashflow live

• Estimated rent: $15,544 medium
• Mortgage (P&I): −$5,239
• Tax est. 1.5%: −$1,249 /mo · $14,985/yr
• Insurance: −$416
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,264
• Net cashflow: $5,376

Break-even live

Break-even rent $8,739

Max offer price $999,000

Occupancy floor 60%

Sensitivity live

Price	-10% $6,066	-5% $5,721	+0% $5,376	+5% $5,030	+10% $4,685
Rent	-10% $4,148	-5% $4,762	+0% $5,376	+5% $5,990	+10% $6,604
Rate	-1.0pp $5,879	-0.5pp $5,630	base $5,376	+0.5pp $5,117	+1.0pp $4,853

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: $249,750
• Closing costs: $29,970
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $999,000 Active 174 DOM
2. 2026-06-18
   days on market $999,000 Active 171 DOM
3. 2026-06-17
   days on market $999,000 Active 170 DOM
4. 2026-06-16
   days on market $999,000 Active 169 DOM
5. 2026-06-15
   days on market $999,000 Active 168 DOM
6. 2026-06-13
   days on market $999,000 Active 166 DOM
7. 2026-06-13
   days on market $999,000 Active 165 DOM
8. 2026-06-09
   days on market $999,000 Active 162 DOM
9. 2026-06-08
   days on market $999,000 Active 161 DOM
10. 2026-06-07
    days on market $999,000 Active 160 DOM
11. 2026-06-04
    days on market $999,000 Active 157 DOM
12. 2026-06-03
    days on market $999,000 Active 156 DOM
13. 2026-06-02
    days on market $999,000 Active 155 DOM
14. 2026-06-01
    days on market $999,000 Active 154 DOM
15. 2026-05-31
    days on market $999,000 Active 153 DOM
16. 2026-03-16
    price $999,000 1402-char remark

    Show marketing remark (1402 chars)

    The Ultimate Springs Waterfront Retreat: 74 Richardson Ave, East Hampton Rarely does a property combine authentic beach cottage charm with the exclusive lifestyle of a private boater's sanctuary. This meticulously maintained 2-bedroom, 1-bath retreat is more than a home; it is your gateway to the most coveted coastal experiences in the Springs. The Boater's Dream: Ideally positioned just moments from the pristine sands of Maidstone Park Beach. For the outdoor enthusiast, this means effortless access to Three Mile Harbor for boating, kayaking, and paddleboarding at a moment's notice. Casual Luxury & Effortless Living: The home’s "Coastal Chic" aesthetic is designed for a seamless indoor-outdoor flow. Sun-Drenched Deck: Perfect for morning coffee or sunset entertaining. Outdoor Shower: The essential Hamptons luxury for rinsing off after a day at the beach. Turnkey Potential: Whether you are looking for a stylish summer hideaway, a lucrative investment property, or a "cool" manageable residence, this cottage is reimagined for modern Hamptons living. Prime Location: Steps from the legendary Rita’s Cantina and the calm waters of the bay, 74 Richardson Ave is perfectly situated to capture the best of East Hampton. Simple, relaxed, and full of timeless allure—this is a rare opportunity to own a piece of the beach life that truly delivers.

17. 2026-02-19
    price $1,150,000 1402-char remark

    Show marketing remark (1402 chars)

    The Ultimate Springs Waterfront Retreat: 74 Richardson Ave, East Hampton Rarely does a property combine authentic beach cottage charm with the exclusive lifestyle of a private boater's sanctuary. This meticulously maintained 2-bedroom, 1-bath retreat is more than a home; it is your gateway to the most coveted coastal experiences in the Springs. The Boater's Dream: Ideally positioned just moments from the pristine sands of Maidstone Park Beach. For the outdoor enthusiast, this means effortless access to Three Mile Harbor for boating, kayaking, and paddleboarding at a moment's notice. Casual Luxury & Effortless Living: The home’s "Coastal Chic" aesthetic is designed for a seamless indoor-outdoor flow. Sun-Drenched Deck: Perfect for morning coffee or sunset entertaining. Outdoor Shower: The essential Hamptons luxury for rinsing off after a day at the beach. Turnkey Potential: Whether you are looking for a stylish summer hideaway, a lucrative investment property, or a "cool" manageable residence, this cottage is reimagined for modern Hamptons living. Prime Location: Steps from the legendary Rita’s Cantina and the calm waters of the bay, 74 Richardson Ave is perfectly situated to capture the best of East Hampton. Simple, relaxed, and full of timeless allure—this is a rare opportunity to own a piece of the beach life that truly delivers.

18. 2025-12-27
    listed $1,300,000 Active 1402-char remark

    Show marketing remark (1402 chars)

    The Ultimate Springs Waterfront Retreat: 74 Richardson Ave, East Hampton Rarely does a property combine authentic beach cottage charm with the exclusive lifestyle of a private boater's sanctuary. This meticulously maintained 2-bedroom, 1-bath retreat is more than a home; it is your gateway to the most coveted coastal experiences in the Springs. The Boater's Dream: Ideally positioned just moments from the pristine sands of Maidstone Park Beach. For the outdoor enthusiast, this means effortless access to Three Mile Harbor for boating, kayaking, and paddleboarding at a moment's notice. Casual Luxury & Effortless Living: The home’s "Coastal Chic" aesthetic is designed for a seamless indoor-outdoor flow. Sun-Drenched Deck: Perfect for morning coffee or sunset entertaining. Outdoor Shower: The essential Hamptons luxury for rinsing off after a day at the beach. Turnkey Potential: Whether you are looking for a stylish summer hideaway, a lucrative investment property, or a "cool" manageable residence, this cottage is reimagined for modern Hamptons living. Prime Location: Steps from the legendary Rita’s Cantina and the calm waters of the bay, 74 Richardson Ave is perfectly situated to capture the best of East Hampton. Simple, relaxed, and full of timeless allure—this is a rare opportunity to own a piece of the beach life that truly delivers.

19. 2025-12-26
    historical
20. 2025-09-25
    listed $1,150,000 Active
21. 2017-04-17
    historical
22. 2016-10-12
    listed $600,000 New
23. 2006-05-02
    soldstatus $385,000
24. 2004-05-19
    soldstatus $280,000
25. 2001-04-27
    soldstatus $177,500

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥90°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: $186,524
• − Mortgage interest: −$55,960
• − Property taxes: −$14,985
• − Insurance: −$4,995
• − Repairs & maintenance: −$14,922
• − Management: −$14,922
• − Depreciation: −$29,062
• Taxable income: $51,679
• Est. tax owed @ 24.0%: −$12,403
• After-tax cash flow: $52,105/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

+462.8% since first listed

10 events — show timeline

• 2026-03-16 Price Changed $999,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-19 Price Changed $1,150,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-27 Listed $1,300,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-26 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-09-25 Listed $1,150,000 OneKey® MLS as Distributed by MLS Grid
• 2017-04-17 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-10-12 Listed $600,000 OneKey® MLS as Distributed by MLS Grid
• 2006-05-02 Sold (Public Records) $385,000 Public Records
• 2004-05-19 Sold (Public Records) $280,000 Public Records
• 2001-04-27 Sold (Public Records) $177,500 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,919 · +0.0% YoY. Source: county tax records.