2439 Union Blvd. Apt 2A Unit 2A · Islip, NY 11751

$249,000

1 bd · 1.0 ba · 600 sqft · Condo · 23 Days on market

Built 1970 Fair condition

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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 +22.5/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Schools +5.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Forest Green. This vibrant coop community, located in beautiful Islip, is pet-friendly and complete with wonderful amenities; including a refreshing in-ground pool, a state-of-the-art gym, convenient on-site laundry, two registered parking spaces, a dog exercise run and a clubhouse for gatherings. Forest Green is perfectly located; close to an abundance of wonderful restaurants, Ferries to Fire Island, Transportation, Shopping and less than 1 mile to the LIRR making it an Easy Commute to the city. This Unit is on the ground floor level, so no climbing stairs and all of it's windows face the lovely, open, green space. Maintenance fees include: TAXES, HEAT, WATER, GROUNDS KEEPING,

Key facts

• On site laundry
• State of the art gym
• In ground pool

Tags

• IN GROUND POOL
• STATE OF THE ART GYM
• ON SITE LAUNDRY
• REGISTERED PARKING SPACES
• CLUBHOUSE FOR GATHERINGS
• PET FRIENDLY

Property features AI

Finance

• Other: Pets allowed
• HOA & community: Association managed by Einsidler Property Management; Association covers common area maintenance, exterior maintenance, grounds care, snow removal and trash; Community clubhouse; Fitness center; Pool; Sidewalks

Exterior

• Parking: Assigned parking
• Utilities: Public sewer; Electricity connected; Water connected
• Home design: Stock cooperative; Entry level: 1
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Dishwasher; Electric oven; Refrigerator
• Bedrooms: Bedroom on first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Ceiling fans; Entrance foyer; Galley kitchen layout; Primary bedroom on main level; 4 total rooms
• Laundry & utility: Common area laundry

🏢 Co-op / cooperative unit. The $249,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $249k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $420 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Recommended offer: $245k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.2% in Islip — 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 83/100 on livability (#59 in NY, #878 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• Islip Union Free School District (suburban): math 52% / reading 67% proficiency, ranked #186 of 590 in NY (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Wing Elementary School (379 students, 35% FRL); Islip Middle School (math 32% / reading 52%, grade D-, #379 of 729 statewide, top 54%, 641 students, 37% FRL); Islip High School (math 88% / reading 93%, grade A+, #231 of 1,100 statewide, top 21%, 892 students, 33% FRL) — zoned schools average 35% FRL vs 20% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 87 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $7k 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 ($245k) is reasonable based on typical stale-listing flexibility.

Recommended offer $245,265 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.09% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.23%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -5.2%
• Equity multiple: 0.81×
• Total profit: $-13,551
• Equity at exit: $37,127

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $22,819
• Equity at exit: $21,529

Cash invested: $69,720 (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 11751

• Active inventory: 87
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,710 high
• Mortgage (P&I): −$1,306
• Tax est. 1.5%: −$311 /mo · $3,735/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$569
• Net cashflow: $420

Break-even live

Break-even rent $2,178

Max offer price $249,000

Occupancy floor 80%

Sensitivity live

Price	-10% $592	-5% $506	+0% $420	+5% $334	+10% $248
Rent	-10% $206	-5% $313	+0% $420	+5% $527	+10% $634
Rate	-1.0pp $545	-0.5pp $483	base $420	+0.5pp $356	+1.0pp $290

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
584 Main St Unit 1 Islip, NY	1.0	1.0	620	$3,150	$5.08	2d	1	0.59mi
405 E Main St Bay Shore, NY	2.0	1.0–2.0	750	$2,485	$3.31	44d	1	0.64mi
1214 Saxon Ave Unit 1534818P Bay Shore, NY	1.0	1.0	495	$3,374	$6.82	6d	1	0.72mi
35 Penataquit Ave Bay Shore, NY	2.0	1.0–1.5	637	$2,605	$4.09	2d	14	0.82mi
700 Justine Ct Bay Shore, NY	1.0	1.0	625	$2,195	$3.51	21d	5	0.94mi
39 Bay Shore Ave Bay Shore, NY	1.0	1.0	544	$2,400	$4.41	44d	1	1.36mi
309 Brook Ave Unit 309-1A Bay Shore, NY	1.0	1.0	700	$2,415	$3.45	16d	1	1.44mi
325 Brook Ave Unit 325-2A Bay Shore, NY	1.0	1.0	700	$2,415	$3.45	44d	1	1.46mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-18
   days on market $249,000 Active 23 DOM
2. 2026-06-17
   days on market $249,000 Active 22 DOM
3. 2026-06-16
   days on market $249,000 Active 21 DOM
4. 2026-06-15
   days on market $249,000 Active 20 DOM
5. 2026-06-13
   days on market $249,000 Active 18 DOM
6. 2026-06-09
   days on market $249,000 Active 14 DOM
7. 2026-06-08
   days on market $249,000 Active 13 DOM
8. 2026-06-07
   days on market $249,000 Active 12 DOM
9. 2026-06-04
   days on market $249,000 Active 9 DOM
10. 2026-06-03
    days on market $249,000 Active 8 DOM
11. 2026-06-02
    days on market $249,000 Active 7 DOM
12. 2026-06-01
    days on market $249,000 Active 6 DOM
13. 2026-05-31
    days on market $249,000 Active 5 DOM
14. 2026-05-17
    listed $249,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $32,520
• − Mortgage interest: −$13,948
• − Property taxes: −$3,735
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,602
• − Management: −$2,602
• − Depreciation: −$7,244
• Taxable income: $1,145
• Est. tax owed @ 24.0%: −$275
• After-tax cash flow: $4,766/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 · 14 photos

Fair 45/100 Cosmetic rehab

This property is in fair condition with some cosmetic repairs and maintenance needed. The home is pet-friendly and located in a community with amenities, making it a good investment opportunity.

Repairs flagged

• Major Landscaping — Significant overgrowth and need for trimming.
• Minor Carpet — Some wear visible, but not severe enough to require replacement.
• Minor Paint — Slight fading in some areas, but not severe enough to require repainting.
• Minor Backsplash — Some wear visible, but not severe enough to require replacement.
• Minor Sink — Some wear visible, but not severe enough to require replacement.
• Minor Shower curtain — Some wear visible, but not severe enough to require replacement.

Value-add opportunities

• Both Painting and repainting the interior walls and cabinetry — Fresh paint can significantly improve the appearance and value of the home.
• Both New carpet or flooring — New carpet or flooring can improve the appearance and comfort of the home.
• Both Backsplash replacement — A new backsplash can improve the appearance and functionality of the kitchen.
• Both Sink replacement — A new sink can improve the appearance and functionality of the bathroom.
• Both Shower curtain replacement — A new shower curtain can improve the appearance and functionality of the bathroom.
• Both Landscaping trimming and maintenance — Well-maintained landscaping can improve the curb appeal and overall value of the home.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · Significant overgrowth and need for trimming.	Major	$15,000–50,000
Carpet · Some wear visible, but not severe enough to require replacement.	Minor	$500–3,000
Paint · Slight fading in some areas, but not severe enough to require repainting.	Minor	$500–3,000
Backsplash · Some wear visible, but not severe enough to require replacement.	Minor	$500–3,000
Sink · Some wear visible, but not severe enough to require replacement.	Minor	$500–3,000
Shower curtain · Some wear visible, but not severe enough to require replacement.	Minor	$500–3,000
Total estimated repair cost · 6 items		$17,500–65,000

Value-add ROI direction

• Both Painting and repainting the interior walls and cabinetry — Fresh paint can significantly improve the appearance and value of the home. ↑
• Both New carpet or flooring — New carpet or flooring can improve the appearance and comfort of the home. ↑
• Both Backsplash replacement — A new backsplash can improve the appearance and functionality of the kitchen. ↑
• Both Sink replacement — A new sink can improve the appearance and functionality of the bathroom. ↑
• Both Shower curtain replacement — A new shower curtain can improve the appearance and functionality of the bathroom. ↑
• Both Landscaping trimming and maintenance — Well-maintained landscaping can improve the curb appeal and overall value of the home. ↑

ⓘ 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: Islip Union Free School District
• NCES district ID: 3615540
• Math proficiency: 52% ▼ -7.00%
• Reading proficiency: 67% ▲ 10.00%
• Median HH income: $92,825
• Composite: 54.7/100
• National rank: #1325
• State rank: #186 of 590 in NY

Livability — Islip

• Score: 83/100
• State rank: #59
• US rank: #878

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Islip, NY
• City population: 13,152
• Population (ZIP): 13,152

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 15% Two or more races 9% Asian 5% Black 3%
• Hispanic origin (detail): Puerto Rican 7%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 8% · Canada, China, Jamaica
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 2% 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: ▼ -368.19%
• Current HPI: 288.0267
• 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

1 event — show timeline

• 2026-05-17 Listed $249,000 OneKey® MLS as Distributed by MLS Grid