22 Kiowa Ct #22 · Coram, NY 11727

$195,000

1 bd · 1.0 ba · 800 sqft · Condo · 51 Days on market

Built 1952 Fair condition $244/sqft · 10% below area Est $217k · 10% under

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Why this score? — see what drove the C+ 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 +23.3/30.0
• ARV discount +12.1/15.0
• DSCR +7.5/10.0
• 1% rule +6.1/10.0
• Schools +5.2/10.0
• Rent growth +3.7/5.0
• Livability +3.3/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

May 14th- FULLY AVAILABLE!!!………..COME SEE THIS OPEN AND SPACIOUS UPPER LEVEL 1 BEDROOM UNIT. THIS GORGEOUS UNIT FEATURES AN OPEN KITCHEN, LIVING ROOM, SPACE FOR DINING TABLE, A FULL BATH, AND A SPACIOUS BEDROOM WITH 2 LARGE CLOSETS! THIS COMMUNITY ALSO HAS A LARGE CLUB HOUSE, RECREATION ROOM, SPORTS COURT AND POOL! LAUNDRY IS IN THE SAME BUILDING!

Key facts

• Community pool
• Built 1952
• Listed 51 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $195k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $357 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 3.5% in Coram — 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 66/100 on livability (#646 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, schools B; Watch: amenities F, commute F, cost of living F.
• Longwood Central School District (rural): math 61% / reading 55% proficiency, ranked #235 of 590 in NY (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.7%/yr); 232 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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 + 4.7% rent growth), your $55k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 77% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. 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: 1.11% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.85%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (median comp): $217,067
• List price: $195,000
• Delta: -10.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.66% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.91×
• Total profit: $-5,153
• Equity at exit: $29,075

10-year hold

• IRR: 9.0%
• Equity multiple: 1.74×
• Total profit: $40,492
• Equity at exit: $16,860

Cash invested: $54,600 (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 11727

• Rents YoY: 4.7%
• Active inventory: 232
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,158 high
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $357

Break-even live

Break-even rent $1,706

Max offer price $195,000

Occupancy floor 78%

Sensitivity live

Price	-10% $492	-5% $425	+0% $357	+5% $290	+10% $222
Rent	-10% $187	-5% $272	+0% $357	+5% $442	+10% $528
Rate	-1.0pp $455	-0.5pp $407	base $357	+0.5pp $307	+1.0pp $255

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Laramie Ct Unit 5 Coram, NY	1.0	1.0	750	$2,150	$2.87	25d	1	0.03mi
11 Laramie Ct Unit 11 Coram, NY	1.0	1.0	750	$2,100	$2.80	18d	1	0.03mi
10 Houston Ct #10 Coram, NY	1.0	1.0	650	$2,150	$3.31	23d	1	0.14mi
21 Sierra Ct Unit 21 Coram, NY	1.0	1.0	650	$1,895	$2.92	45d	1	0.15mi
23 Sierra Ct Unit 23 Coram, NY	1.0	1.0	600	$1,995	$3.33	45d	1	0.16mi
119 Sequoia Dr Coram, NY	1.0	1.0	700	$2,200	$3.14	16d	1	0.34mi
39 Fargo Ct Unit 39 Coram, NY	1.0	1.0	650	$2,000	$3.08	45d	1	0.37mi
5 Whitney Ln Coram, NY	1.0	1.0	552	$1,900	$3.44	45d	1	0.87mi
1 Avalon Pines Dr Coram, NY	1.0–2.0	1.0–2.5	1082	$2,919	$2.70	0d	18	1.11mi
1 Leesburg Ct Mount Sinai, NY	1.0	1.0	891	$1,800	$2.02	6d	1	1.35mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 1 events

1. 2026-04-08
   listed $199,000 Active 370-char remark

   Show marketing remark (370 chars)

   May 14th- FULLY AVAILABLE!!!………..COME SEE THIS OPEN AND SPACIOUS UPPER LEVEL 1 BEDROOM UNIT. THIS GORGEOUS UNIT FEATURES AN OPEN KITCHEN, LIVING ROOM, SPACE FOR DINING TABLE, A FULL BATH, AND A SPACIOUS BEDROOM WITH 2 LARGE CLOSETS! THIS COMMUNITY ALSO HAS A LARGE CLUB HOUSE, RECREATION ROOM, SPORTS COURT AND POOL! LAUNDRY IS IN THE SAME BUILDING!

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥93°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,896
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$2,072
• − Management: −$2,072
• − Depreciation: −$5,673
• Taxable income: $1,256
• Est. tax owed @ 24.0%: −$302
• After-tax cash flow: $3,985/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.

Condition & rehab AI · 8 photos

Fair 45/100 Moderate rehab

This 1-bedroom condo requires moderate repairs and maintenance to improve its condition and value. Fresh paint, new countertops, and updated flooring would significantly enhance its appeal.

Repairs flagged

• Moderate Kitchen countertops — Worn appearance
• Moderate Bathroom tiles — Signs of wear
• Moderate Exterior brick siding — Weathered appearance
• Moderate Carpeted flooring — Signs of wear
• Moderate Paint on interior walls — Slightly faded appearance

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace worn countertops — New countertops improve functionality and appearance
• Both Replace worn flooring — New flooring enhances comfort and appearance
• Both Replace worn bathroom tiles — New tiles improve functionality and appearance
• Both Replace worn exterior siding — New siding enhances curb appeal and structural integrity

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops · Worn appearance	Moderate	$3,000–15,000
Bathroom tiles · Signs of wear	Moderate	$3,000–15,000
Exterior brick siding · Weathered appearance	Moderate	$3,000–15,000
Carpeted flooring · Signs of wear	Moderate	$3,000–15,000
Paint on interior walls · Slightly faded appearance	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$15,000–75,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace worn countertops — New countertops improve functionality and appearance ↑
• Both Replace worn flooring — New flooring enhances comfort and appearance ↑
• Both Replace worn bathroom tiles — New tiles improve functionality and appearance ↑
• Both Replace worn exterior siding — New siding enhances curb appeal and structural integrity ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Longwood Central School District
• NCES district ID: 3619230
• Math proficiency: 61% ▬ 0.00%
• Reading proficiency: 55% ▼ -1.00%
• Median HH income: $72,748
• Composite: 51.63/100
• National rank: #1703
• State rank: #235 of 590 in NY

Livability — Coram

• Score: 66/100
• State rank: #646
• US rank: #12097

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coram, NY
• County: Suffolk County · 679,920 people
• City population: 28,495
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 28,495
• Household income: $103,287
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 994.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 50% Hispanic / Latino 19% Two or more races 18% Black 15% Asian 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 8% Dominican 4%
• Common ancestry: Romanian 4% Scotch-Irish 2% Lithuanian 1%
• Foreign-born: 22% · Canada, South Korea, Jamaica
• Languages at home: 72% English-only · Spanish 12% Other Indo-European 8% Arabic 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: ▼ -571.88%
• Current HPI: 388.8297
• Rent YoY: ▲ 4.66%
• 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

1 event — show timeline

• 2026-04-08 Listed $199,000 OneKey® MLS as Distributed by MLS Grid