64 Eastport Dr · Sound Beach, NY 11789

$699,000

8 bd · 4.0 ba · 2,710 sqft · MultiFamily public records · 7 Days on market

Built 1968 7,841 sqft lot Est $729k · at est.

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Why this score? — see what drove the D 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 +12.0/30.0
• ARV discount +9.4/15.0
• Schools +5.9/10.0
• 1% rule +4.2/10.0
• DSCR +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Welcome to 64 Eastport Drive, Sound Beach ! This waterfront community is located on the North part of the Town of Brookhaven in Suffolk County. This rare LEGAL TWO FAMILY home offers a blend of coastal living and exceptional versatility. This income- producing legal two family is thoughtfully maintained making it ideal for investors or extended family living. The property features two expansive units, one with 4 bedrooms, two bathrooms and the other with 5 bedrooms and two bathrooms, providing remarkable space and flexibility. Inside, you’ll find wood floors, stainless steel appliances, and modern updates to both kitchens and several bathrooms that enhance both comfort and functional

Key facts

• Modern updates
• Waterfront community
• Income producing

Tags

• WATERFRONT COMMUNITY
• INCOME PRODUCING
• TWO FAMILY HOME
• EXPANSIVE UNITS
• MODERN UPDATES
• REAR EPAY WOOD DECK

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.0-bath units multifamily listed at $699k.

Deal economics

• At list price, monthly cash flow is $-166 ($-2k/yr) — negative. Per door: $-83/mo.
• To cash-flow at today's rent, offer at most $670k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $640k (8.4% below list).
• Recommended offer: $640k (8.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.8% in Sound Beach — 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 70/100 on livability (#458 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B; Watch: amenities F, commute F, cost of living F.
• Rocky Point Union Free School District (suburban): math 67% / reading 64% proficiency, ranked #152 of 590 in NY (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Rocky Point Middle School (math 52% / reading 67%, grade B, #161 of 729 statewide, top 24%, 638 students, 36% FRL); Rocky Point High School (math 93% / reading 70%, grade A, #484 of 1,100 statewide, top 44%, 923 students, 32% FRL).
• Market conditions: 70 active listings in the ZIP; 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 $5k of loan paydown is wiped out by about $21k 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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $388k; list at $699k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 77% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $640,000 (8.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.92% ✗
• Cap rate: 6.01%
• Cash-on-cash: -1.02%
• DSCR: 0.95
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $728,990
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
64 Eastport Dr	0.00mi	9/4.0 (+1)	2,710 (0%)	1mo	$730,000	$269	94

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.9%
• Equity multiple: 0.37×
• Total profit: $-123,476
• Equity at exit: $104,223

10-year hold

• IRR: -10.0%
• Equity multiple: 0.39×
• Total profit: $-119,730
• Equity at exit: $60,437

Cash invested: $195,720 (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 11789

• Home prices YoY: -33.0%
• Active inventory: 70
• Price-to-rent: 18.2×

Monthly cashflow live

• Estimated rent: $6,400 medium
• Mortgage (P&I): −$3,666
• Tax from tax record: −$1,265 /mo · $15,176/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,344
• Net cashflow: $-166

Break-even live

Break-even rent $6,610

Max offer price $669,754

Occupancy floor 98%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$6,400
Total (2 units)			$6,400

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-02-05
   status Pending
2. 2026-01-29
   listed $699,000 Active
3. 2007-04-10
   soldstatus $388,000
4. 2001-04-26
   soldstatus $262,500

ⓘ 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: $15,176 · $1,265/mo
• Projected year-2 tax: $15,176 · $1,265/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% 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: $76,800
• − Mortgage interest: −$39,155
• − Property taxes: −$15,176
• − Insurance: −$3,495
• − Repairs & maintenance: −$6,144
• − Management: −$6,144
• − Depreciation: −$20,335
• Taxable loss: −$13,649
• Est. tax savings @ 24.0%: +$3,276
• After-tax cash flow: $1,289/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: Rocky Point Union Free School District
• NCES district ID: 3624840
• Math proficiency: 67% ▼ -4.00%
• Reading proficiency: 64% ▼ -7.00%
• Median HH income: $86,256
• Composite: 59.12/100
• National rank: #953
• State rank: #152 of 590 in NY

Livability — Sound Beach

• Score: 70/100
• State rank: #458
• US rank: #7991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sound Beach, NY
• City population: 7,447
• Population (ZIP): 7,447

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 (82%)
• Race & ethnicity: White 82% Two or more races 11% Hispanic / Latino 9% Black 3%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Romanian 9% Slovak 6% Italian 3%
• Foreign-born: 7% · Canada, Jamaica, China
• Languages at home: 92% English-only · Spanish 4% Russian/Polish/Slavic 1% Other Asian/Pacific 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: ▼ -180.99%
• Current HPI: 366.6474
• 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

+166.3% since first listed

4 events — show timeline

• 2026-02-05 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-29 Listed $699,000 OneKey® MLS as Distributed by MLS Grid
• 2007-04-10 Sold (Public Records) $388,000 Public Records
• 2001-04-26 Sold (Public Records) $262,500 Public Records

Property tax history

+0.1%/yr

Latest (2025): $15,176 · +0.0% YoY. Source: county tax records.