8 Shenandoah Blvd

Terryville, NY 11776

$500,000D

3 bd · 1.0 ba · 1,400 sqft · Built 1968 · SingleFamily · Active · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,800/mo
• Mortgage (P&I): −$2,622
• Tax + insurance: −$1,101
• HOA: −$0
• Vac / Maint / Mgmt: −$798
• Net cashflow: $-721/mo
• Annual: $-8,656/yr
• Cap rate: 4.56%
• Cash-on-cash: -6.18%
• DSCR: 0.72
• 1% rule: 0.76%
• Cash to close: $140,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $500k.
• At list price, monthly cash flow is $-721 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $373k (25.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $380k (24.0% below list).
• It's been on market 49 days — a 3% lower offer ($485k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $373k (25.5% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#589 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety B; Watch: amenities F, commute F, cost of living F.
• Brookhaven-Comsewogue Union Free School District (suburban): math 62% / reading 76% proficiency, ranked #123 of 590 in NY (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Clinton Avenue School (441 students, 43% FRL); John F Kennedy Middle School (math 37% / reading 52%, grade D, #348 of 729 statewide, top 50%, 822 students, 35% FRL); Comsewogue High School (math 86% / reading 92%, grade A+, #288 of 1,100 statewide, top 27%, 1,153 students, 30% FRL) — zoned schools average 36% FRL vs 19% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 142 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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.
• Current owner paid $110k; list at $500k implies a 355% gain — meaningful room to come down on a strong offer.
• This rent runs 38% of the median local income ($121k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 49 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.