416 3rd St · Greenport, NY 11944

$739,000

3 bd · 1.5 ba · 1,344 sqft · SingleFamily · 23 Days on market

Built 2001 Good condition 6,970 sqft lot $550/sqft · 25% below area Est $980k · 25% under

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Why this score? — see what drove the F 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).

• ARV discount +15.0/15.0
• Schools +4.5/10.0
• Cash flow +4.0/30.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• 1% rule +0.2/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Greenport Village Farmhouse Built in 2001, Featuring a New Roof (2020), a Welcoming Front Porch, and a Spacious Yard. This Three-Bedroom Home with One and Half Baths, Offers a Good-Sized Living Room and One Especially Large Bedroom with Double Closet Space. Located within One Block from a Park with Playground and a Park with Basketball Courts. A Waterfront Park and Beach is Just Eight Blocks Away and NYC Transportation is Approximately Five Blocks Away. Enjoy Easy Access to Village Shops, Restaurants, Mitchell Park Carousel, Mitchell Park Marina and So Much More from Your Comfortable Home.

Key facts

• Spacious yard
• Double closet space
• Large bedroom

Tags

• NEW ROOF
• WELCOMING FRONT PORCH
• SPACIOUS YARD
• LARGE BEDROOM
• DOUBLE CLOSET SPACE
• EASY ACCESS TO VILLAGE SHOPS

Property features AI

Exterior

• Parking: Driveway parking; Off-street parking
• Utilities: Electricity connected; Water connected; Public sewer; Electric service by local provider
• Home design: Single-family residence; Living area reported from public records
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 7 total rooms (includes bedrooms and living spaces)
• Flooring: Hardwood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Baseboard heating; Hot water heating; Oil heating; No central air
• Interior features: Eat-in kitchen; Washer/dryer hookup; Unfinished attic; Basement present
• Laundry & utility: Washer; Dryer; Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $739k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-2k ($-25k/yr) — negative.
• To cash-flow at today's rent, offer at most $433k (41.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $385k (47.8% below list).
• Recommended offer: $385k (47.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#217 in NY, #3,399 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, commute B+; Watch: housing C-, cost of living F.
• Greenport Union Free School District (town): math 55% / reading 45% proficiency, ranked #450 of 755 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Greenport Elementary School (math 47% / reading 62%, grade C, #908 of 2,108 statewide, top 46%, 339 students, 61% FRL); Greenport High School (math 52% / reading 54%, grade C-, #934 of 1,100 statewide, top 86%, 356 students, 63% FRL).
• Market conditions: 69 active listings in the ZIP; 8 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; 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 $22k 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

• It's been on market 23 days — a 2% lower offer ($728k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $385,413 (47.8% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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.

Investment metrics

• 1% rule: 0.52% ✗
• Cap rate: 2.94%
• Cash-on-cash: -11.96%
• DSCR: 0.47
• GRM: 16.0

CMA / ARV

• ARV (median comp): $980,414
• List price: $739,000
• Delta: -24.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
416 West St	0.11mi	4/1.5 (+1)	1,450 (+8%)	4mo	$725,000	$500	74
302 Monsell Pl	0.41mi	3/2.0	1,300 (-3%)	21mo	$945,000	$727	56
57 (aka 400) Wilmarth Ave	0.44mi	3/1.0	1,500 (+12%)	4mo	$585,000	$390	55
1295 Washington Ave	0.42mi	2/1.5 (-1)	1,500 (+12%)	3mo	$630,000	$420	53
110 Flint St	0.62mi	3/2.0	1,200 (-11%)	3mo	$690,000	$575	49
535 Middleton Rd	0.54mi	3/1.0	1,205 (-10%)	8mo	$635,000	$527	49
208 aka 685 Knapp Pl	0.59mi	2/1.0 (-1)	1,200 (-11%)	6mo	$485,000	$404	43
237 6th Street St	0.62mi	2/2.5 (-1)	1,452 (+8%)	23mo	$1,526,000	$1,051	30

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: -39.0%
• Equity multiple: -0.23×
• Total profit: $-254,544
• Equity at exit: $110,187

10-year hold

• IRR: -60.0%
• Equity multiple: -0.91×
• Total profit: $-394,965
• Equity at exit: $63,895

Cash invested: $206,920 (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 11944

• Home prices YoY: -23.7%
• Active inventory: 69
• Price-to-rent: 16.0×

Monthly cashflow live

• Estimated rent: $3,854 high
• Mortgage (P&I): −$3,875
• Tax est. 1.5%: −$924 /mo · $11,085/yr
• Insurance: −$308
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$809
• Net cashflow: $-2,118

Break-even live

Break-even rent $6,535

Max offer price $432,545

Occupancy floor —

Sensitivity live

Price	-10% $-1,607	-5% $-1,862	+0% $-2,118	+5% $-2,373	+10% $-2,629
Rent	-10% $-2,422	-5% $-2,270	+0% $-2,118	+5% $-1,966	+10% $-1,813
Rate	-1.0pp $-1,746	-0.5pp $-1,930	base $-2,118	+0.5pp $-2,309	+1.0pp $-2,504

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: $184,750
• Closing costs: $22,170
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
248 5th Ave Greenport, NY	2.0	1.0	1306	$3,500	$2.68	44d	1	0.19mi
744 Main St Unit 2 Greenport, NY	2.0	2.0	1200	$3,400	$2.83	44d	1	0.31mi
123 Sterling Ave #2 Greenport, NY	3.0	3.0	1528	$45,000	$29.45	44d	1	0.32mi
517 Flint St Greenport, NY	2.0	1.0	1100	$3,500	$3.18	44d	1	0.52mi
237 6th St Greenport, NY	2.0	2.5	1452	$14,000	$9.64	12d	1	0.60mi
134 6th St Greenport, NY	3.0	2.0	1560	$18,500	$11.86	19d	1	0.74mi
8 Oyster Pt Greenport, NY	2.0	2.0	1190	$5,500	$4.62	4d	1	0.82mi
1110 Gillette Dr East Marion, NY	4.0	2.0	1500	$7,000	$4.67	19d	1	1.48mi

Listing history 1 events

1. 2026-04-10
   listed $739,000 Active 600-char remark

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥90°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,250
• − Mortgage interest: −$41,395
• − Property taxes: −$11,085
• − Insurance: −$4,362
• − Repairs & maintenance: −$3,700
• − Management: −$3,700
• − Depreciation: −$21,498
• Taxable loss: −$39,491
• Est. tax savings @ 24.0%: +$9,478
• After-tax cash flow: $-15,936/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 · 5 photos

Good 75/100 Cosmetic rehab

This 2001 Greenport Village Farmhouse is in good condition with a new roof and well-maintained exterior. It offers a spacious yard and is located within walking distance of a park and beach, making it a great investment opportunity.

Value-add opportunities

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace outdoor lighting — Modern lighting improves safety and enhances curb appeal
• Both Install smart home devices — Smart home devices can increase property value and attract tech-savvy buyers/renters

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace outdoor lighting — Modern lighting improves safety and enhances curb appeal ↑
• Both Install smart home devices — Smart home devices can increase property value and attract tech-savvy buyers/renters ↑

ⓘ 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: Greenport Union Free School District
• NCES district ID: 3612840
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $54,490
• Composite: 45.25/100
• National rank: #5759
• State rank: #450 of 755 in NY

Livability — Greenport

• Score: 76/100
• State rank: #217
• US rank: #3399

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenport, NY
• City population: 4,744
• Population (ZIP): 4,744

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 23% Two or more races 6% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 6% Lithuanian 2% Subsaharan African 2%
• Foreign-born: 19% · Canada, China
• Languages at home: 69% English-only · Spanish 22% German/W. Germanic 3% Russian/Polish/Slavic 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: ▼ -143.97%
• Current HPI: 462.3431
• 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

2 events — show timeline

• 2026-05-29 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-10 Listed $739,000 OneKey® MLS as Distributed by MLS Grid