14 S Country Rd

Westhampton, NY 11977

$2,395,000B-

4 bd · 3.5 ba · 3,659 sqft · Built 2004 · SingleFamily · Pending · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $21,937/mo
• Mortgage (P&I): −$12,560
• Tax + insurance: −$1,990
• HOA: −$0
• Vac / Maint / Mgmt: −$4,607
• Net cashflow: $2,781/mo
• Annual: $33,369/yr
• Cap rate: 7.69%
• Cash-on-cash: 4.98%
• DSCR: 1.22
• 1% rule: 0.92%
• Cash to close: $670,600

Investor read

• This is a 4-bed/3.5-bath single-family listed at $2.40M.
• At list price, monthly cash flow is $3k ($33k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.19M (8.4% below list).
• It's been on market 52 days — a 3% lower offer ($2.32M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $2.19M (8.4% below list) — sets the bar for 1% rule.
• In year one you build about $228k of equity ($17k loan paydown + $211k appreciation (8.8% local appreciation)).
• Location reads 60/100 on livability (#969 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing C-, amenities F, commute F.
• Westhampton Beach Union Free School District (suburban): math 72% / reading 75% proficiency, ranked #81 of 590 in NY (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Westhampton Beach Elementary School (math 67% / reading 67%, grade B+, #525 of 2,108 statewide, top 27%, 356 students, 43% FRL); Westhampton Middle School (math 61% / reading 63%, grade B+, #136 of 729 statewide, top 20%, 434 students, 26% FRL); Westhampton Beach Senior High School (math 90% / reading 96%, grade A+, #147 of 1,100 statewide, top 14%, 964 students, 24% FRL).
• Market conditions: 63 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 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.
• 3 sale attempts; this cycle's ask has dropped $1.60M (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $138k; list at $2.40M implies a 1636% gain — meaningful room to come down on a strong offer.
• At projected returns (8.8% appreciation + 3.0% rent growth), your $671k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$365k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk; severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• At $21,937/mo this rent would consume 174% of the median local household income ($151k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 52 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.