26 Long Beach Dr · Sound Beach, NY 11789

$479,990

3 bd · 2.0 ba · 1,438 sqft · Other public records · 20 Days on market

Built 1930 0.28 ac lot $334/sqft · 17% below area Est $578k · 17% under

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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 +15.0/30.0
• ARV discount +15.0/15.0
• Schools +6.2/10.0
• DSCR +4.6/10.0
• Livability +3.5/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Situated in Sound Beach within the highly regarded Miller Place School District, this distinctive property spans street-to-street, offering exceptional versatility and opportunity. Set on a rare double lot extending from Long Beach Drive to Echo Avenue, the property features a unique layout with endless potential for customization or investment. The home includes a finished walk-out basement with a legal accessory apartment; however, the rental permit will require renewal. A charming set of stone steps provides a natural transition from the main house down to the expansive detached 2+ car garage on the Echo Avenue side, enhancing both accessibility and the property’s character. The ga

Key facts

• Double lot
• Loft for storage
• 0.28 acre lot

Tags

• DOUBLE LOT
• FINISHED WALK-OUT BASEMENT
• LEGAL ACCESSORY APARTMENT
• DETACHED 2 CAR GARAGE
• LOFT FOR STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $480k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/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 $384k (20.0% below list).
• Recommended offer: $384k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.8% in Sound Beach — 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 70/100 on livability (#458 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B; Watch: amenities F, commute F, cost of living F.
• Miller Place Union Free School District (suburban): math 72% / reading 64% proficiency, ranked #116 of 590 in NY (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Sound Beach School (math 57% / reading 62%, grade B-, #745 of 2,108 statewide, top 39%, 473 students, 15% FRL); North Country Road School (math 52% / reading 62%, grade B, #192 of 729 statewide, top 28%, 534 students, 15% FRL); Miller Place High School (math 96% / reading 72%, grade A, #404 of 1,100 statewide, top 37%, 820 students, 16% FRL).
• Market conditions: 71 active listings in the ZIP; 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 $3k of loan paydown is wiped out by about $14k 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 20 days — a 2% lower offer ($473k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 2y 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 $112k; list at $480k implies a 329% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $383,879 (20.0% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.80% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.34%
• DSCR: 1.06
• GRM: 10.4

CMA / ARV

• ARV (median comp): $577,806
• List price: $479,990
• Delta: -16.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -14.2%
• Equity multiple: 0.49×
• Total profit: $-68,448
• Equity at exit: $71,568

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-48,167
• Equity at exit: $41,501

Cash invested: $134,397 (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 11789

• Home prices YoY: -33.0%
• Active inventory: 71
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $3,839 medium
• Mortgage (P&I): −$2,517
• Tax from tax record: −$166 /mo · $1,989/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$806
• Net cashflow: $150

Break-even live

Break-even rent $3,649

Max offer price $479,990

Occupancy floor 91%

Sensitivity live

Price	-10% $422	-5% $286	+0% $150	+5% $14	+10% $-122
Rent	-10% $-153	-5% $-2	+0% $150	+5% $301	+10% $453
Rate	-1.0pp $392	-0.5pp $272	base $150	+0.5pp $25	+1.0pp $-101

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: $119,998
• Closing costs: $14,400
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-01
   status $479,990 Pending 20 DOM
2. 2026-06-01
   days on market $479,990 Active 20 DOM
3. 2026-05-31
   days on market $479,990 Active 19 DOM
4. 2026-05-06
   listed $479,990 Active 912-char remark
5. 2025-10-31
   historical $2,500
6. 2025-10-18
   price $2,500
7. 2025-09-11
   listed $3,000
8. 2025-09-07
   price $599,998
9. 2025-08-12
   status Active
10. 2025-07-10
    historical
11. 2025-06-22
    listed $650,000 Active
12. 2024-09-27
    historical $3,000
13. 2024-09-27
    listed $3,000
14. 2024-09-13
    historical $3,000
15. 2024-09-12
    listed $3,000
16. 2024-09-07
    historical $3,000
17. 2024-07-25
    listed $3,000
18. 2024-07-07
    historical $3,000
19. 2024-05-08
    listed $3,000
20. 2024-05-07
    historical $3,000
21. 2024-05-07
    listed $3,000
22. 2002-06-26
    soldstatus $112,000
23. 1988-04-13
    soldstatus $120,000
24. 1987-05-06
    soldstatus $107,000

ⓘ 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: $1,989 · $166/mo
• Projected year-2 tax: $5,050 · $421/mo
• Expected delta: +$3,061/yr (+$255/mo · 153.9%)

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

Taxation est. · year 1

• Rental income: $46,065
• − Mortgage interest: −$26,887
• − Property taxes: −$1,989
• − Insurance: −$2,400
• − Repairs & maintenance: −$3,685
• − Management: −$3,685
• − Depreciation: −$13,963
• Taxable loss: −$6,544
• Est. tax savings @ 24.0%: +$1,571
• After-tax cash flow: $3,368/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: Miller Place Union Free School District
• NCES district ID: 3619410
• Math proficiency: 72% ▲ 1.00%
• Reading proficiency: 64% ▲ 1.00%
• Median HH income: $99,693
• Composite: 62.5/100
• National rank: #685
• State rank: #116 of 590 in NY

Livability — Sound Beach

• Score: 70/100
• State rank: #458
• US rank: #7991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sound Beach, NY
• City population: 7,447
• Population (ZIP): 7,447

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 (82%)
• Race & ethnicity: White 82% Two or more races 11% Hispanic / Latino 9% Black 3%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Romanian 9% Slovak 6% Italian 3%
• Foreign-born: 7% · Canada, Jamaica, China
• Languages at home: 92% English-only · Spanish 4% Russian/Polish/Slavic 1% Other Asian/Pacific 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: ▼ -180.99%
• Current HPI: 366.6474
• 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

+348.6% since first listed

22 events — show timeline

• 2026-06-01 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-05-06 Listed $479,990 OneKey® MLS as Distributed by MLS Grid
• 2025-10-31 Rental Removed $2,500 ONEKEY
• 2025-10-18 Price Changed $2,500 ONEKEY
• 2025-09-11 Listed for Rent $3,000 ONEKEY
• 2025-09-07 Price Changed $599,998 OneKey® MLS as Distributed by MLS Grid
• 2025-08-12 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-07-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-06-22 Listed $650,000 OneKey® MLS as Distributed by MLS Grid
• 2024-09-27 Rental Removed $3,000 ONEKEY
• 2024-09-27 Listed for Rent $3,000 ONEKEY
• 2024-09-13 Rental Removed $3,000 ONEKEY
• 2024-09-12 Listed for Rent $3,000 ONEKEY
• 2024-09-07 Rental Removed $3,000 ONEKEY
• 2024-07-25 Listed for Rent $3,000 ONEKEY
• 2024-07-07 Rental Removed $3,000 ONEKEY
• 2024-05-08 Listed for Rent $3,000 ONEKEY
• 2024-05-07 Rental Removed $3,000 ONEKEY
• 2024-05-07 Listed for Rent $3,000 ONEKEY
• 2002-06-26 Sold (Public Records) $112,000 Public Records
• 1988-04-13 Sold (Public Records) $120,000 Public Records
• 1987-05-06 Sold (Public Records) $107,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $1,989 · +0.0% YoY. Source: county tax records.