1550 Main Rd · Jamesport, NY 11901

$839,000

3 bd · 1.0 ba · 1,764 sqft · MultiFamily public records · 16 Days on market

Built 1949 5,227 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 +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.3/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Fully renovated and beautifully designed mixed-use property located on Main Road in Jamesport offering both residential and commercial flexibility in a highly visible North Fork location. The property currently features a storefront/gallery space connected to a thoughtfully updated residential layout with additional upside through the unfinished loft, basement, and rear outdoor space. The residential portion is presently configured as a 2-bedroom, 1-bath residence, with town records reflecting a prior 3-bedroom configuration. The unfinished second-floor loft offers strong expansion potential for additional living area, studio space, office use, or value-add possibilities depending on buyer

Key facts

• Unfinished loft
• Private driveway
• Rear yard access

Tags

• STOREFRONT GALLERY SPACE
• UNFINISHED LOFT
• PRIVATE DRIVEWAY
• ON-SITE PARKING
• PROTECTED OPEN SPACE
• REAR YARD ACCESS

Property features AI

Exterior

• Parking: Driveway; On-street parking; Private parking; Unpaved parking
• Security: Security system; Video cameras
• Utilities: Cesspool sewer; Electricity available and connected; Water available and connected; Cable available; Phone available; Private trash collection
• Home design: Triplex; Updated/remodeled condition
• Construction: Frame construction; Block foundation; Basement with full, unfinished storage and walk-out access; Bilco doors and crawl space; Attic with stairs, storage, unfinished area and walkup
• Exterior features: Back yard; Near golf course; Near public transit; Near shops; Near school; Security system; Video cameras

Interior

• Kitchen: Open kitchen
• Bedrooms: One 2-bedroom unit (multi-unit property)
• Flooring: Hardwood; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating (oil-fired); Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Ceiling fans; High-speed internet available; Open kitchen; Storage space; Washer/dryer hookup
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $839k.

Deal economics

• At list price, monthly cash flow is $4k ($54k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $839k).
• Recommended offer: $826k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 46/100 on livability (#1,185 in NY) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime A; Watch: amenities F, commute F, employment 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: Aquebogue Elementary School (math 47% / reading 57%, grade C-, #988 of 2,108 statewide, top 49%, 474 students, 40% 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).
• Zoned-school proficiency averages 54% at this address vs 41% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Riverhead Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 191 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $25k 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 + 3.0% rent growth), your $235k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($826k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $655k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $826,415 (1.5% below list)

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.52% ✓
• Cap rate: 12.72%
• Cash-on-cash: 22.97%
• DSCR: 2.02
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 15.9%
• Equity multiple: 1.64×
• Total profit: $150,444
• Equity at exit: $125,098

10-year hold

• IRR: 24.5%
• Equity multiple: 3.13×
• Total profit: $499,923
• Equity at exit: $72,541

Cash invested: $234,920 (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 11901

• Home prices YoY: -29.5%
• Active inventory: 191
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $12,736 medium
• Mortgage (P&I): −$4,400
• Tax from tax record: −$816 /mo · $9,793/yr
• Insurance: −$350
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,675
• Net cashflow: $4,496

Break-even live

Break-even rent $7,045

Max offer price $839,000

Occupancy floor 60%

Sensitivity live

Price	-10% $4,971	-5% $4,733	+0% $4,496	+5% $4,258	+10% $4,021
Rent	-10% $3,490	-5% $3,993	+0% $4,496	+5% $4,999	+10% $5,502
Rate	-1.0pp $4,918	-0.5pp $4,709	base $4,496	+0.5pp $4,279	+1.0pp $4,057

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$12,736
Total (2 units)			$12,736

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: $209,750
• Closing costs: $25,170
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
144 Manor Ln Jamesport, NY	4.0	2.5	2100	$9,500	$4.52	5d	1	0.37mi
1727 Main Rd Unit 1538864P Laurel, NY	3.0	2.5	1937	$7,548	$3.90	14d	1	0.41mi
23 Scallop Ln South Jamesport, NY	3.0	2.0	1285	$25,000	$19.46	44d	1	0.95mi
7 Eileen Cir Jamesport, NY	3.0	2.0	1572	$10,000	$6.36	20d	1	1.11mi
33 Beach Rd Laurel, NY	3.0	2.5	1607	$4,500	$2.80	44d	1	1.29mi

Listing history 10 events

1. 2026-06-21
   days on market $839,000 Active 16 DOM
2. 2026-06-18
   days on market $839,000 Active 13 DOM
3. 2026-06-17
   days on market $839,000 Active 12 DOM
4. 2026-06-16
   days on market $839,000 Active 11 DOM
5. 2026-06-15
   days on market $839,000 Active 10 DOM
6. 2026-06-13
   days on market $839,000 Active 8 DOM
7. 2026-06-09
   days on market $839,000 Active 4 DOM
8. 2026-06-08
   days on market $839,000 Active 3 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $839,000 Active 2 DOM

ⓘ 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: $9,793 · $816/mo
• Projected year-2 tax: $11,986 · $999/mo
• Expected delta: +$2,193/yr (+$183/mo · 22.4%)

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

Taxation est. · year 1

• Rental income: $152,832
• − Mortgage interest: −$46,997
• − Property taxes: −$9,793
• − Insurance: −$4,195
• − Repairs & maintenance: −$12,227
• − Management: −$12,227
• − Depreciation: −$24,407
• Taxable income: $42,986
• Est. tax owed @ 24.0%: −$10,317
• After-tax cash flow: $43,635/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: Riverhead Central School District
• NCES district ID: 3624690
• Math proficiency: 34% ▼ -4.00%
• Reading proficiency: 48% ▲ 13.00%
• Median HH income: $61,607
• Composite: 36.38/100
• National rank: #4683
• State rank: #489 of 590 in NY

Livability — Jamesport

• Score: 46/100
• State rank: #1185
• US rank: #26497

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jamesport, NY
• City population: 716
• Population (ZIP): 32,921

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 52% Hispanic / Latino 29% Two or more races 14% Black 11% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 8% Iranian 1% Portuguese 1%
• Foreign-born: 25% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 26% Other Indo-European 3% Russian/Polish/Slavic 2%

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: ▼ -182.60%
• Current HPI: 436.7781
• 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

+28.1% since first listed

2 events — show timeline

• 2026-06-05 Listed $839,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-17 Sold (Public Records) $655,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $9,793 · +0.0% YoY. Source: county tax records.