260 Waverly Ave #58 · Patchogue, NY 11772

$290,000

2 bd · 1.0 ba · 900 sqft · Condo · 116 Days on market

Built 1967

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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 +20.1/30.0
• ARV discount +7.5/15.0
• Schools +6.7/10.0
• DSCR +6.4/10.0
• 1% rule +5.3/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Home to 260 Waverly Avenue!! This First Floor Garden Apartment Offers 2 Spacious Bedrooms, 1 Full Bath, Large Living Room, Dining Area, Galley Kitchen with Updated SS Appliances (2020), All Updated Laminate Flooring Throughout The Unit (2020), All New Crown Moldings/Updated Paint (2020), and a Cozy Balcony That Overlooks The Grounds. This Unit Is Located Adjacent From The Laundry Room and Storage Facility For Your Convenience. Minutes From Patchogue Village, Restaurants, Shopping, Beaches, Village Pool, LIRR, and Highways. Monthly HOA of $973.78 Includes Taxes, Heat, Gas, Water, Ground Care, and Sewer. Roof Was Just Replaced On All Buildings in 2021. PVC Fenced-In Grounds. Come See This Beautiful Community For Yourself!!, Additional information: Appearance:DIAMOND,Interior Features:Lr/Dr

Key facts

• Laundry facilities
• Galley kitchen
• First floor unit

Tags

• FIRST FLOOR UNIT
• GALLEY KITCHEN
• LAUNDRY FACILITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $290k.

Deal economics

• At list price, monthly cash flow is $363 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Recommended offer: $264k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 3.4% in Patchogue — 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 80/100 on livability (#108 in NY, #1,800 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities D-, cost of living F.
• Patchogue-Medford Union Free School District (suburban): math 83% / reading 69% proficiency, ranked #73 of 590 in NY (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Barton Elementary School (math 75% / reading 75%, grade A, #289 of 2,108 statewide, top 15%, 478 students, 38% FRL); Oregon Middle School (reading 75%, 592 students, 54% FRL); Patchogue-Medford High School (math 89% / reading 67%, grade A-, #577 of 1,100 statewide, top 52%, 2,443 students, 53% FRL).
• Market conditions: Rents rising fast (+5.1%/yr); 216 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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).
• This rent runs 34% of the median local income ($105k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 116 days — a 9% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $235k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $263,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.03% ✓
• Cap rate: 7.79%
• Cash-on-cash: 5.36%
• DSCR: 1.24
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.07% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.78×
• Total profit: $-17,486
• Equity at exit: $43,240

10-year hold

• IRR: 6.3%
• Equity multiple: 1.52×
• Total profit: $41,955
• Equity at exit: $25,074

Cash invested: $81,200 (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 11772

• Rents YoY: 5.1%
• Active inventory: 216
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,996 high
• Mortgage (P&I): −$1,521
• Tax est. 1.5%: −$362 /mo · $4,350/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$629
• Net cashflow: $363

Break-even live

Break-even rent $2,537

Max offer price $290,000

Occupancy floor 83%

Sensitivity live

Price	-10% $563	-5% $463	+0% $363	+5% $262	+10% $162
Rent	-10% $126	-5% $244	+0% $363	+5% $481	+10% $599
Rate	-1.0pp $509	-0.5pp $436	base $363	+0.5pp $287	+1.0pp $211

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
177 Waverly Ave Unit Second Floor Patchogue, NY	2.0	1.0	835	$2,995	$3.59	7d	1	0.26mi
116 Waverly Ave Unit 8 Patchogue, NY	1.0	1.0	730	$2,895	$3.97	44d	1	0.38mi
116 Waverly Ave Unit 7 Patchogue, NY	1.0	1.0	722	$2,795	$3.87	44d	1	0.38mi
99 Waverly Ave Patchogue, NY	1.0–2.0	1.0–2.0	928	$3,710	$4.00	2d	9	0.46mi
20 Spruce Dr Holbrook, NY	1.0–2.0	1.0–2.0	864	$3,672	$4.25	2d	23	0.66mi
34 Union Ave Patchogue, NY	2.0	1.0	1000	$3,000	$3.00	5d	1	0.74mi
22 Jennings Ave Unit B Patchogue, NY	2.0	1.0	919	$3,000	$3.26	2d	1	0.81mi
1 Village Green Way Patchogue, NY	1.0–2.0	1.0–2.0	947	$3,974	$4.19	2d	7	0.87mi
104 River Ave Patchogue, NY	3.0	1.0	1100	$3,100	$2.82	2d	1	0.92mi
90 E Main St Unit 2 Patchogue, NY	1.0	1.0	750	$2,300	$3.07	44d	1	1.09mi
80 Division St Patchogue, NY	2.0	1.0	1000	$3,100	$3.10	25d	1	1.11mi
80 Division St Unit 1C Patchogue, NY	1.0	1.0	860	$2,800	$3.26	20d	1	1.11mi
80 Division St Patchogue, NY	1.0	1.0	860	$3,200	$3.72	2d	1	1.11mi
80 Division St Unit 2B Patchogue, NY	2.0	2.0	1100	$3,500	$3.18	44d	1	1.11mi
80 Division St Unit 2c Patchogue, NY	1.0	1.0	860	$3,200	$3.72	44d	1	1.11mi
80 Division St Unit 204 Patchogue, NY	1.0	1.0	860	$2,800	$3.26	44d	1	1.11mi
80 Division St Unit 3d Patchogue, NY	1.0	1.0	860	$3,600	$4.19	44d	1	1.11mi
234 River Ave Patchogue, NY	2.0	1.0	687	$2,875	$4.18	2d	1	1.23mi
830 Terrace Rd Unit I8-830 Bayport, NY	1.0	1.0	715	$2,465	$3.45	22d	1	1.30mi
512 Terrace Rd Unit T13-512 Bayport, NY	1.0	1.0	775	$2,500	$3.23	22d	1	1.38mi
425 Terrace Rd Unit T11425 Bayport, NY	2.0	1.0	890	$2,985	$3.35	44d	1	1.40mi
417 Terrace Rd Unit T10417 Bayport, NY	2.0	1.0	890	$2,985	$3.35	44d	1	1.41mi
420 Terrace Rd Unit T10-420 Bayport, NY	1.0	1.0	630	$2,415	$3.83	22d	1	1.42mi
68 Winges Ave Patchogue, NY	1.0	1.0	800	$2,000	$2.50	44d	1	1.42mi
332 Terrace Rd Unit T08332 Bayport, NY	1.0	1.0	630	$2,415	$3.83	44d	1	1.43mi
323 Terrace Rd Unit T08-323 Bayport, NY	1.0	1.0	790	$2,510	$3.18	22d	1	1.45mi
254 Terrace Rd Unit T6-254 Bayport, NY	2.0	1.0	775	$3,110	$4.01	44d	1	1.48mi
305 Terrace Rd Unit T7305 Bayport, NY	2.0	1.0	890	$2,985	$3.35	44d	1	1.48mi

HOA detail condo

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

Listing history 9 events

1. 2026-02-14
   status Pending
2. 2026-01-14
   price $290,000
3. 2025-12-02
   status Active
4. 2025-09-19
   status Pending
5. 2025-08-07
   listed $300,000 Active
6. 2021-12-01
   soldstatus $235,000 Closed 807-char remark

   Show marketing remark (807 chars)

   Welcome Home to 260 Waverly Avenue!! This First Floor Garden Apartment Offers 2 Spacious Bedrooms, 1 Full Bath, Large Living Room, Dining Area, Galley Kitchen with Updated SS Appliances (2020), All Updated Laminate Flooring Throughout The Unit (2020), All New Crown Moldings/Updated Paint (2020), and a Cozy Balcony That Overlooks The Grounds. This Unit Is Located Adjacent From The Laundry Room and Storage Facility For Your Convenience. Minutes From Patchogue Village, Restaurants, Shopping, Beaches, Village Pool, LIRR, and Highways. Monthly HOA of $973.78 Includes Taxes, Heat, Gas, Water, Ground Care, and Sewer. Roof Was Just Replaced On All Buildings in 2021. PVC Fenced-In Grounds. Come See This Beautiful Community For Yourself!!, Additional information: Appearance:DIAMOND,Interior Features:Lr/Dr

7. 2021-08-25
   status Pending 807-char remark

   Show marketing remark (807 chars)

   Welcome Home to 260 Waverly Avenue!! This First Floor Garden Apartment Offers 2 Spacious Bedrooms, 1 Full Bath, Large Living Room, Dining Area, Galley Kitchen with Updated SS Appliances (2020), All Updated Laminate Flooring Throughout The Unit (2020), All New Crown Moldings/Updated Paint (2020), and a Cozy Balcony That Overlooks The Grounds. This Unit Is Located Adjacent From The Laundry Room and Storage Facility For Your Convenience. Minutes From Patchogue Village, Restaurants, Shopping, Beaches, Village Pool, LIRR, and Highways. Monthly HOA of $973.78 Includes Taxes, Heat, Gas, Water, Ground Care, and Sewer. Roof Was Just Replaced On All Buildings in 2021. PVC Fenced-In Grounds. Come See This Beautiful Community For Yourself!!, Additional information: Appearance:DIAMOND,Interior Features:Lr/Dr

8. 2021-08-18
   historical 807-char remark

   Show marketing remark (807 chars)

   Welcome Home to 260 Waverly Avenue!! This First Floor Garden Apartment Offers 2 Spacious Bedrooms, 1 Full Bath, Large Living Room, Dining Area, Galley Kitchen with Updated SS Appliances (2020), All Updated Laminate Flooring Throughout The Unit (2020), All New Crown Moldings/Updated Paint (2020), and a Cozy Balcony That Overlooks The Grounds. This Unit Is Located Adjacent From The Laundry Room and Storage Facility For Your Convenience. Minutes From Patchogue Village, Restaurants, Shopping, Beaches, Village Pool, LIRR, and Highways. Monthly HOA of $973.78 Includes Taxes, Heat, Gas, Water, Ground Care, and Sewer. Roof Was Just Replaced On All Buildings in 2021. PVC Fenced-In Grounds. Come See This Beautiful Community For Yourself!!, Additional information: Appearance:DIAMOND,Interior Features:Lr/Dr

9. 2021-08-12
   listed $224,000 Active 807-char remark

   Show marketing remark (807 chars)

   Welcome Home to 260 Waverly Avenue!! This First Floor Garden Apartment Offers 2 Spacious Bedrooms, 1 Full Bath, Large Living Room, Dining Area, Galley Kitchen with Updated SS Appliances (2020), All Updated Laminate Flooring Throughout The Unit (2020), All New Crown Moldings/Updated Paint (2020), and a Cozy Balcony That Overlooks The Grounds. This Unit Is Located Adjacent From The Laundry Room and Storage Facility For Your Convenience. Minutes From Patchogue Village, Restaurants, Shopping, Beaches, Village Pool, LIRR, and Highways. Monthly HOA of $973.78 Includes Taxes, Heat, Gas, Water, Ground Care, and Sewer. Roof Was Just Replaced On All Buildings in 2021. PVC Fenced-In Grounds. Come See This Beautiful Community For Yourself!!, Additional information: Appearance:DIAMOND,Interior Features:Lr/Dr

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,950
• − Mortgage interest: −$16,245
• − Property taxes: −$4,350
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,876
• − Management: −$2,876
• − Depreciation: −$8,436
• Taxable loss: −$283
• Est. tax savings @ 24.0%: +$68
• After-tax cash flow: $4,419/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: Patchogue-Medford Union Free School District
• NCES district ID: 3622470
• Math proficiency: 83% ▲ 27.00%
• Reading proficiency: 69% ▲ 15.00%
• Median HH income: $75,120
• Composite: 66.81/100
• National rank: #405
• State rank: #73 of 590 in NY

Livability — Patchogue

• Score: 80/100
• State rank: #108
• US rank: #1800

Category grades

Amenities D- 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: Patchogue, NY
• County: Suffolk County · 679,920 people
• City population: 45,023
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 45,023
• Household income: $105,245
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 1595.0

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 24% Two or more races 8% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 15% · Canada, Jamaica, China
• Languages at home: 78% English-only · Spanish 15% Other Asian/Pacific 2% Other Indo-European 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: ▼ -578.02%
• Current HPI: 375.1174
• Rent YoY: ▲ 5.07%
• 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

+29.5% since first listed

9 events — show timeline

• 2026-02-14 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-14 Price Changed $290,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-02 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-09-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-08-07 Listed $300,000 OneKey® MLS as Distributed by MLS Grid
• 2021-12-01 Sold (MLS) $235,000 OneKey® MLS as Distributed by MLS Grid
• 2021-08-25 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-08-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-08-12 Listed $224,000 OneKey® MLS as Distributed by MLS Grid