223 Park Ave · Halesite, NY 11743

$699,000

4 bd · 3.0 ba · 2,200 sqft · MultiFamily · 23 Days on market

Built 1957 9,583 sqft lot Est $684k · at est.

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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 +27.2/30.0
• DSCR +9.4/10.0
• 1% rule +7.1/10.0
• ARV discount +6.5/15.0
• Schools +4.6/10.0
• Rent growth +4.0/5.0
• Livability +3.5/5.0
• 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 MLS

Diamond in the rough in the heart of Huntington Village. Legal two family offering strong upside and flexible us. Lower level features a 2 bedroom 2 bath layout; upper level offers 2 bedrooms 1 bath. Three car detached garage plus full basement provide rare utility and storage. Prime locations close to Huntington hospital, shops, dining, and village amenities. Ideal for end user, investor, or extended family- bring your vision and unlock the value.

Key facts

• Two family duplex
• Prime location
• Detached garage

Tags

• TWO FAMILY DUPLEX
• DETACHED GARAGE
• FULL UNFINISHED BASEMENT
• PRIME LOCATION

Property features AI

Exterior

• Parking: Driveway; Garage with 3 spaces
• Utilities: Electricity connected; Natural gas connected; Water connected; Public trash collection; Cesspool sewer
• Home design: Duplex
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Kitchen: Eat-in kitchen(s)
• Bedrooms: Two 2-bedroom units (duplex configuration)
• Flooring: Laminate flooring
• Bathrooms: Three full bathrooms
• Heating & cooling: Baseboard heating; Natural gas heating; Oil heating; No central air
• Interior features: First-floor bedroom; First-floor full bathroom; Eat-in kitchen; Full unfinished basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $699k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $997/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $699k).
• Recommended offer: $689k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#486 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Huntington Union Free School District (suburban): math 45% / reading 52% proficiency, ranked #328 of 590 in NY (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Southdown School (math 24% / reading 34%, grade F, #1,729 of 2,108 statewide, top 84%, 289 students, 58% FRL); J Taylor Finley Middle School (math 25% / reading 44%, grade F, #483 of 729 statewide, top 68%, 623 students, 58% FRL); Huntington High School (math 91% / reading 92%, grade A+, #197 of 1,100 statewide, top 18%, 1,410 students, 56% FRL) — zoned schools average 58% FRL vs 34% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.1%/yr); 261 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• At $8,427/mo this rent would consume 55% of the median local household income ($183k/yr) (locally 479% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $196k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($689k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $86k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $688,515 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.21% ✓
• Cap rate: 9.72%
• Cash-on-cash: 12.23%
• DSCR: 1.54
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $684,200
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
223 Park Ave	0.00mi	4/3.0	2,200 (0%)	4mo	$685,000	$311	97

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 5.3%
• Equity multiple: 1.21×
• Total profit: $41,273
• Equity at exit: $104,223

10-year hold

• IRR: 17.3%
• Equity multiple: 2.63×
• Total profit: $319,841
• 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 11743

• Rents YoY: 6.1%
• Active inventory: 261
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $8,427 high
• Mortgage (P&I): −$3,666
• Tax from tax record: −$706 /mo · $8,466/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,770
• Net cashflow: $1,995

Break-even live

Break-even rent $5,902

Max offer price $699,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$8,426
Total (2 units)			$8,427

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: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
41 Potter Ln Halesite, NY	3.0	3.0	1892	$5,000	$2.64	43d	1	0.33mi
41 Potter Ln Halesite, NY	3.0	3.0	1892	$4,200	$2.22	13d	1	0.33mi
12 Greenlawn Rd Huntington, NY	4.0	2.0	2000	$4,300	$2.15	43d	1	0.67mi
245 Main St Unit 1 Huntington, NY	3.0	2.0	1600	$5,995	$3.75	1d	1	0.77mi

Listing history 20 events

1. 2026-06-18
   days on market $699,000 Active 23 DOM
2. 2026-06-17
   days on market $699,000 Active 22 DOM
3. 2026-06-16
   days on market $699,000 Active 21 DOM
4. 2026-06-15
   days on market $699,000 Active 20 DOM
5. 2026-06-13
   days on market $699,000 Active 18 DOM
6. 2026-06-13
   days on market $699,000 Active 17 DOM
7. 2026-06-09
   days on market $699,000 Active 14 DOM
8. 2026-06-08
   days on market $699,000 Active 13 DOM
9. 2026-06-07
   days on market $699,000 Active 12 DOM
10. 2026-06-04
    days on market $699,000 Active 9 DOM
11. 2026-06-03
    days on market $699,000 Active 8 DOM
12. 2026-06-02
    days on market $699,000 Active 7 DOM
13. 2026-06-01
    days on market $699,000 Active 6 DOM
14. 2026-05-31
    days on market $699,000 Active 5 DOM
15. 2026-05-22
    listed $785,000 Active
16. 2026-02-20
    soldstatus $685,000 Closed 452-char remark

    Show marketing remark (452 chars)

    Diamond in the rough in the heart of Huntington Village. Legal two family offering strong upside and flexible us. Lower level features a 2 bedroom 2 bath layout; upper level offers 2 bedrooms 1 bath. Three car detached garage plus full basement provide rare utility and storage. Prime locations close to Huntington hospital, shops, dining, and village amenities. Ideal for end user, investor, or extended family- bring your vision and unlock the value.

17. 2026-01-09
    status Pending 452-char remark

    Show marketing remark (452 chars)

    Diamond in the rough in the heart of Huntington Village. Legal two family offering strong upside and flexible us. Lower level features a 2 bedroom 2 bath layout; upper level offers 2 bedrooms 1 bath. Three car detached garage plus full basement provide rare utility and storage. Prime locations close to Huntington hospital, shops, dining, and village amenities. Ideal for end user, investor, or extended family- bring your vision and unlock the value.

18. 2026-01-05
    listed $649,000 Active 452-char remark

    Show marketing remark (452 chars)

    Diamond in the rough in the heart of Huntington Village. Legal two family offering strong upside and flexible us. Lower level features a 2 bedroom 2 bath layout; upper level offers 2 bedrooms 1 bath. Three car detached garage plus full basement provide rare utility and storage. Prime locations close to Huntington hospital, shops, dining, and village amenities. Ideal for end user, investor, or extended family- bring your vision and unlock the value.

19. 2023-11-29
    historical $2,500
20. 2023-11-10
    listed $2,500

ⓘ 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: $8,466 · $706/mo
• Projected year-2 tax: $10,140 · $845/mo
• Expected delta: +$1,673/yr (+$139/mo · 19.8%)

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

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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $101,124
• − Mortgage interest: −$39,155
• − Property taxes: −$8,466
• − Insurance: −$3,495
• − Repairs & maintenance: −$8,090
• − Management: −$8,090
• − Depreciation: −$20,335
• Taxable income: $13,493
• Est. tax owed @ 24.0%: −$3,238
• After-tax cash flow: $20,701/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: Huntington Union Free School District
• NCES district ID: 3615090
• Math proficiency: 45% ▼ -8.00%
• Reading proficiency: 52% ▼ -1.00%
• Median HH income: $93,547
• Composite: 45.68/100
• National rank: #2578
• State rank: #328 of 590 in NY

Livability — Halesite

• Score: 69/100
• State rank: #486
• US rank: #8570

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Halesite, NY
• County: Suffolk County · 679,920 people
• City population: 42,423
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 43,490
• Household income: $183,187
• Rent vs Own: 10.2% rent · 89.8% own
• Severe rent burden: 479.0

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: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 12% Two or more races 10% Asian 5% Black 4%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Scotch-Irish 3% Slovak 2%
• Foreign-born: 11% · Canada, China, Jamaica
• Languages at home: 83% English-only · Spanish 9% Other Indo-European 3% Chinese 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: ▼ -659.59%
• Current HPI: 279.0693
• Rent YoY: ▲ 6.14%
• 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

+31300.0% since first listed

6 events — show timeline

• 2026-05-22 Listed $785,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-20 Sold (MLS) $685,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-05 Listed $649,000 OneKey® MLS as Distributed by MLS Grid
• 2023-11-29 Rental Removed $2,500 ONEKEY
• 2023-11-10 Listed for Rent $2,500 ONEKEY

Property tax history

+2.1%/yr

Latest (2025): $8,466 · +0.0% YoY. Source: county tax records.