660 Northville Tpke · Riverhead, NY 11901

$299,000

2 bd · 1.0 ba · 949 sqft · Manufactured public records · 79 Days on market

Built 1975 0.35 ac lot $315/sqft · 46% below area Est $558k · 46% 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 +23.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +6.2/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A rare find in Riverhead-this property offers the convenience of mobile home living with the unique benefit of owning the land. Set on .35 of an acre, the home features 2 bedrooms, 1 full bath, a living room, den, and a welcoming porch. Several storage sheds are included, providing plenty of room for tools, seasonal items, or hobbies. Centrally located and less than 1 mile, you'll enjoy easy access to downtown Riverhead's shops, restaurants, and bars, as well as nearby conveniences and attractions. Whether you're looking for an affordable year-round home, a weekend retreat, or a smart investment, this property offers a unique scenario and you own the land.

Key facts

• Centrally located
• Owning the land
• Storage sheds

Tags

• OWNING THE LAND
• STORAGE SHEDS
• WELCOMING PORCH
• CENTRALLY LOCATED
• EASY ACCESS TO DOWNTOWN

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $299k.

Deal economics

• At list price, monthly cash flow is $559 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $299k).
• Recommended offer: $281k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.4% in Riverhead — 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 73/100 on livability (#325 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing B+; Watch: schools D, cost of living F.
• Riverhead Central School District (suburban): math 34% / reading 48% proficiency, ranked #489 of 590 in NY (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 191 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% 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 $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 79 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $26k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $21k; list at $299k implies a 1324% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $281,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.12% ✓
• Cap rate: 8.53%
• Cash-on-cash: 8.01%
• DSCR: 1.36
• GRM: 7.4

CMA / ARV

• ARV (median comp): $557,518
• List price: $299,000
• Delta: -46.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32 Bluebird Pl	0.65mi	3/2.0 (+1)	900 (-5%)	12mo	$265,000	$294	42
1661-268 Old Country Rd	0.68mi	2/1.0	840 (-12%)	18mo	$168,000	$200	34

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: -4.1%
• Equity multiple: 0.85×
• Total profit: $-12,809
• Equity at exit: $44,582

10-year hold

• IRR: 5.6%
• Equity multiple: 1.42×
• Total profit: $34,934
• Equity at exit: $25,852

Cash invested: $83,720 (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 11901

• Home prices YoY: -29.5%
• Active inventory: 191
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $3,362 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$405 /mo · $4,858/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$706
• Net cashflow: $559

Break-even live

Break-even rent $2,655

Max offer price $299,000

Occupancy floor 78%

Sensitivity live

Price	-10% $728	-5% $643	+0% $559	+5% $474	+10% $389
Rent	-10% $293	-5% $426	+0% $559	+5% $691	+10% $824
Rate	-1.0pp $709	-0.5pp $635	base $559	+0.5pp $481	+1.0pp $402

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
331 E Main St Unit 405 Riverhead, NY	2.0	1.0	777	$4,300	$5.53	44d	1	0.69mi
331 E Main St Unit 404 Riverhead, NY	1.0	1.0	712	$3,750	$5.27	44d	1	0.69mi
331 E Main St Unit 204 Riverhead, NY	2.0	1.0	867	$3,350	$3.86	44d	1	0.69mi
331 E Main St Riverhead, NY	1.0–2.0	1.0	822	$4,300	$5.23	0d	3	0.69mi
221 E Main St Unit 227 Riverhead, NY	1.0	1.0	680	$2,154	$3.17	44d	1	0.71mi
221 E Main St Unit 502 Riverhead, NY	1.0	1.0	624	$1,794	$2.88	44d	1	0.71mi

Listing history 20 events

1. 2026-06-21
   days on market $299,000 Active 79 DOM
2. 2026-06-18
   days on market $299,000 Active 76 DOM
3. 2026-06-17
   days on market $299,000 Active 75 DOM
4. 2026-06-16
   days on market $299,000 Active 74 DOM
5. 2026-06-15
   days on market $299,000 Active 73 DOM
6. 2026-06-13
   days on market $299,000 Active 71 DOM
7. 2026-06-09
   days on market $299,000 Active 67 DOM
8. 2026-06-08
   days on market $299,000 Active 66 DOM
9. 2026-06-07
   days on market $299,000 Active 65 DOM
10. 2026-06-04
    days on market $299,000 Active 62 DOM
11. 2026-06-03
    days on market $299,000 Active 61 DOM
12. 2026-06-02
    days on market $299,000 Active 60 DOM
13. 2026-06-01
    days on market $299,000 Active 59 DOM
14. 2026-05-31
    days on market $299,000 Active 58 DOM
15. 2026-04-14
    price $299,000 664-char remark

    Show marketing remark (664 chars)

    A rare find in Riverhead-this property offers the convenience of mobile home living with the unique benefit of owning the land. Set on .35 of an acre, the home features 2 bedrooms, 1 full bath, a living room, den, and a welcoming porch. Several storage sheds are included, providing plenty of room for tools, seasonal items, or hobbies. Centrally located and less than 1 mile, you'll enjoy easy access to downtown Riverhead's shops, restaurants, and bars, as well as nearby conveniences and attractions. Whether you're looking for an affordable year-round home, a weekend retreat, or a smart investment, this property offers a unique scenario and you own the land.

16. 2026-04-03
    listed $325,000 Active 664-char remark

    Show marketing remark (664 chars)

    A rare find in Riverhead-this property offers the convenience of mobile home living with the unique benefit of owning the land. Set on .35 of an acre, the home features 2 bedrooms, 1 full bath, a living room, den, and a welcoming porch. Several storage sheds are included, providing plenty of room for tools, seasonal items, or hobbies. Centrally located and less than 1 mile, you'll enjoy easy access to downtown Riverhead's shops, restaurants, and bars, as well as nearby conveniences and attractions. Whether you're looking for an affordable year-round home, a weekend retreat, or a smart investment, this property offers a unique scenario and you own the land.

17. 2026-03-11
    historical
18. 2026-01-23
    price $325,000
19. 2025-09-10
    listed $355,000 Active
20. 1975-11-01
    soldstatus $21,000

ⓘ 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: $4,858 · $405/mo
• Projected year-2 tax: $4,956 · $413/mo
• Expected delta: +$98/yr (+$8/mo · 2.0%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥92°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,343
• − Mortgage interest: −$16,749
• − Property taxes: −$4,858
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,227
• − Management: −$3,227
• − Depreciation: −$8,698
• Taxable income: $2,088
• Est. tax owed @ 24.0%: −$501
• After-tax cash flow: $6,201/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: Riverhead Central School District
• NCES district ID: 3624690
• Math proficiency: 34% ▼ -4.00%
• Reading proficiency: 48% ▲ 13.00%
• Median HH income: $61,607
• Composite: 36.38/100
• National rank: #4683
• State rank: #489 of 590 in NY

Livability — Riverhead

• Score: 73/100
• State rank: #325
• US rank: #5379

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Riverhead, NY
• City population: 32,921
• Population (ZIP): 32,921

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 52% Hispanic / Latino 29% Two or more races 14% Black 11% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 8% Iranian 1% Portuguese 1%
• Foreign-born: 25% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 26% Other Indo-European 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: ▼ -182.60%
• Current HPI: 436.7781
• 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

+1323.8% since first listed

6 events — show timeline

• 2026-04-14 Price Changed $299,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-03 Listed $325,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-11 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-23 Price Changed $325,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-10 Listed $355,000 OneKey® MLS as Distributed by MLS Grid
• 1975-11-01 Sold (Public Records) $21,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $4,858 · +0.0% YoY. Source: county tax records.