62 Waterhole Rd · Springs, NY 11937

$2,195,000

4 bd · 3.0 ba · 2,300 sqft · SingleFamily · 112 Days on market

Built 2000 0.40 ac lot $954/sqft · 21% above area Est $1814k · 21% over $35/mo HOA

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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 +25.8/30.0
• DSCR +8.6/10.0
• 1% rule +5.6/10.0
• Schools +5.1/10.0
• Rent growth +5.0/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Modern Coastal Escape Located within walking distance to the beach in Clearwater Beach, this newly renovated and beautifully landscaped residence offers a serene, design-forward escape just moments from the water. Blending modern systems with natural textures, this is a turnkey Hamptons retreat crafted for effortless coastal living. Step into the light-filled great room where expansive Marvin windows frame the outdoors, seamlessly connecting interior and exterior spaces. Warm 5" engineered white oak flooring grounds the home in understated elegance, while rich wood finishes create an inviting, comfortable atmosphere ideal for year-round living. The thoughtfully designed layout features four bedrooms and beautifully proportioned living spaces, plus a spacious garage. Outdoors, mahogany decking and bluestone patios extend your entertaining possibilities, surrounded by all-new landscaping and a new irrigation system. There is ample room for a pool, and the brand new nitrogen septic system is already designed to accommodate a six-bedroom home - offering flexibility for future expansion. The exterior is clad in striking Alaskan cedar, pairing timeless Hamptons character with modern durability. As a resident of Clearwater Beach, you'll enjoy access to a private, lifeguarded bay beach and marina rights - an exceptional amenity in East Hampton. Just minutes from the Hamptons' finest waterfront restaurants and world-renowned ocean and bay beaches, this home offers the perfect balance of privacy, convenience, and lifestyle. This is East Hampton living at its finest - refined, relaxed, and ready for summer.

Key facts

• Mahogany decking
• Bluestone patios
• Newly renovated

Tags

• NEWLY RENOVATED
• BEAUTIFULLY LANDSCAPED
• EXPANSIVE MARVIN WINDOWS
• MAHOGANY DECKING
• BLUESTONE PATIOS
• NEW IRRIGATION SYSTEM

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $2.19M.

Deal economics

• At list price, monthly cash flow is $5k ($64k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($23k rent vs $2.19M).
• Recommended offer: $2.00M (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#809 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing C-, schools D-, amenities F.
• Springs Union Free School District (town): math 55% / reading 60% proficiency, ranked #239 of 590 in NY (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 9% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+12.3%/yr); 135 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• At $23,247/mo this rent would consume 215% of the median local household income ($130k/yr) (locally 896% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $15k of loan paydown is wiped out by about $66k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $615k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($2.00M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $850k; list at $2.19M implies a 158% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,997,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.06% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.43%
• DSCR: 1.46
• GRM: 7.9

CMA / ARV

• ARV (median comp): $1,813,521
• List price: $2,195,000
• Delta: 21.04%
• Verdict: OVERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 Underwood Dr	0.39mi	4/3.0	2,000 (-13%)	7mo	$1,300,000	$650	54

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 4.3%
• Equity multiple: 1.17×
• Total profit: $106,534
• Equity at exit: $327,282

10-year hold

• IRR: 17.6%
• Equity multiple: 2.77×
• Total profit: $1,086,237
• Equity at exit: $189,783

Cash invested: $614,600 (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 11937

• Rents YoY: 12.3%
• Active inventory: 135
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $23,247 medium
• Mortgage (P&I): −$11,511
• Tax from tax record: −$562 /mo · $6,740/yr
• Insurance: −$915
• HOA: −$35
• Vacancy / Maint / Mgmt: −$4,882
• Net cashflow: $5,343

Break-even live

Break-even rent $16,484

Max offer price $2,195,000

Occupancy floor 72%

Sensitivity live

Price	-10% $6,586	-5% $5,965	+0% $5,343	+5% $4,722	+10% $4,101
Rent	-10% $3,507	-5% $4,425	+0% $5,343	+5% $6,262	+10% $7,180
Rate	-1.0pp $6,449	-0.5pp $5,902	base $5,343	+0.5pp $4,775	+1.0pp $4,196

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: $548,750
• Closing costs: $65,850
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
104 Waterhole Rd East Hampton, NY	4.0	2.5	2500	$65,000	$26.00	25d	1	0.16mi
135 Pembroke Dr East Hampton, NY	4.0	2.0	2000	$30,000	$15.00	25d	1	0.21mi
63 Isle of Wight Rd East Hampton, NY	4.0	3.5	2400	$13,000	$5.42	44d	1	0.34mi
89 Isle of Wight Rd East Hampton, NY	3.0	2.5	2600	$6,000	$2.31	19d	1	0.39mi
83 Rutland Rd East Hampton, NY	4.0	3.5	2500	$20,000	$8.00	44d	1	0.47mi
1181 Springs Fireplace Rd East Hampton, NY	3.0	2.0	1600	$75,000	$46.88	44d	1	0.58mi
85 Camberly Rd East Hampton, NY	4.0	3.5	1700	$40,000	$23.53	25d	1	0.62mi
1039 Springs Fireplace Rd East Hampton, NY	3.0	3.0	2500	$85,000	$34.00	44d	1	0.84mi
12 Underwood Dr East Hampton, NY	3.0	2.0	1600	$30,000	$18.75	19d	1	0.88mi
197 Hog Creek Rd East Hampton, NY	3.0	2.0	1700	$20,000	$11.76	44d	1	0.95mi
12 Maidstone Park Rd East Hampton, NY	3.0	3.5	1800	$75,000	$41.67	44d	1	0.98mi

HOA detail

• Monthly dues: $35 · $420/yr
• Likely covers: waterlandscapingpoolsecurity

Listing history 21 events

1. 2026-06-18
   days on market $2,195,000 Active 112 DOM
2. 2026-06-17
   days on market $2,195,000 Active 111 DOM
3. 2026-06-16
   days on market $2,195,000 Active 110 DOM
4. 2026-06-15
   days on market $2,195,000 Active 109 DOM
5. 2026-06-13
   days on market $2,195,000 Active 107 DOM
6. 2026-06-13
   days on market $2,195,000 Active 106 DOM
7. 2026-06-09
   days on market $2,195,000 Active 103 DOM
8. 2026-06-08
   days on market $2,195,000 Active 102 DOM
9. 2026-06-07
   days on market $2,195,000 Active 101 DOM
10. 2026-06-04
    days on market $2,195,000 Active 98 DOM
11. 2026-06-03
    days on market $2,195,000 Active 97 DOM
12. 2026-06-02
    days on market $2,195,000 Active 96 DOM
13. 2026-06-01
    days on market $2,195,000 Active 95 DOM
14. 2026-05-31
    days on market $2,195,000 Active 94 DOM
15. 2026-02-26
    listed $2,295,000 Active 1628-char remark

    Show marketing remark (1628 chars)

    Modern Coastal Escape Located within walking distance to the beach in Clearwater Beach, this newly renovated and beautifully landscaped residence offers a serene, design-forward escape just moments from the water. Blending modern systems with natural textures, this is a turnkey Hamptons retreat crafted for effortless coastal living. Step into the light-filled great room where expansive Marvin windows frame the outdoors, seamlessly connecting interior and exterior spaces. Warm 5" engineered white oak flooring grounds the home in understated elegance, while rich wood finishes create an inviting, comfortable atmosphere ideal for year-round living. The thoughtfully designed layout features four bedrooms and beautifully proportioned living spaces, plus a spacious garage. Outdoors, mahogany decking and bluestone patios extend your entertaining possibilities, surrounded by all-new landscaping and a new irrigation system. There is ample room for a pool, and the brand new nitrogen septic system is already designed to accommodate a six-bedroom home - offering flexibility for future expansion. The exterior is clad in striking Alaskan cedar, pairing timeless Hamptons character with modern durability. As a resident of Clearwater Beach, you'll enjoy access to a private, lifeguarded bay beach and marina rights - an exceptional amenity in East Hampton. Just minutes from the Hamptons' finest waterfront restaurants and world-renowned ocean and bay beaches, this home offers the perfect balance of privacy, convenience, and lifestyle. This is East Hampton living at its finest - refined, relaxed, and ready for summer.

16. 2023-12-29
    soldstatus $850,000
17. 2023-10-03
    soldstatus $850,000 Closed 498-char remark

    Show marketing remark (498 chars)

    Beautiful 2 bedroom ranch on large piece of property. Hardwood floors,central air with a beautiful screened in porch. These features lay the foundation for a future amazing home. Tons of potential to be truly special. Nestled in an amazing community which as a buyer you can become a part of. As a member of the Clear Water Home Owner Association you have access to a private beach and if you choose the local marina. (HOA dues are $330 a year), Additional information: Interior Features:Lr/Dr

18. 2023-08-09
    status Pending 498-char remark

    Show marketing remark (498 chars)

    Beautiful 2 bedroom ranch on large piece of property. Hardwood floors,central air with a beautiful screened in porch. These features lay the foundation for a future amazing home. Tons of potential to be truly special. Nestled in an amazing community which as a buyer you can become a part of. As a member of the Clear Water Home Owner Association you have access to a private beach and if you choose the local marina. (HOA dues are $330 a year), Additional information: Interior Features:Lr/Dr

19. 2023-07-24
    status Active 498-char remark

    Show marketing remark (498 chars)

    Beautiful 2 bedroom ranch on large piece of property. Hardwood floors,central air with a beautiful screened in porch. These features lay the foundation for a future amazing home. Tons of potential to be truly special. Nestled in an amazing community which as a buyer you can become a part of. As a member of the Clear Water Home Owner Association you have access to a private beach and if you choose the local marina. (HOA dues are $330 a year), Additional information: Interior Features:Lr/Dr

20. 2023-07-19
    listed $829,000 Active 498-char remark

    Show marketing remark (498 chars)

    Beautiful 2 bedroom ranch on large piece of property. Hardwood floors,central air with a beautiful screened in porch. These features lay the foundation for a future amazing home. Tons of potential to be truly special. Nestled in an amazing community which as a buyer you can become a part of. As a member of the Clear Water Home Owner Association you have access to a private beach and if you choose the local marina. (HOA dues are $330 a year), Additional information: Interior Features:Lr/Dr

21. 2023-07-17
    historical $829,000 498-char remark

    Show marketing remark (498 chars)

    Beautiful 2 bedroom ranch on large piece of property. Hardwood floors,central air with a beautiful screened in porch. These features lay the foundation for a future amazing home. Tons of potential to be truly special. Nestled in an amazing community which as a buyer you can become a part of. As a member of the Clear Water Home Owner Association you have access to a private beach and if you choose the local marina. (HOA dues are $330 a year), Additional information: 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.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $6,740 · $562/mo
• Projected year-2 tax: $21,918 · $1,826/mo
• Expected delta: +$15,178/yr (+$1,265/mo · 225.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥90°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: $278,970
• − Mortgage interest: −$122,954
• − Property taxes: −$6,740
• − Insurance: −$10,975
• − Repairs & maintenance: −$22,318
• − Management: −$22,318
• − HOA: −$420
• − Depreciation: −$63,855
• Taxable income: $29,392
• Est. tax owed @ 24.0%: −$7,054
• After-tax cash flow: $57,068/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: Springs Union Free School District
• NCES district ID: 3627900
• Math proficiency: 55% ▲ 6.00%
• Reading proficiency: 60% ▲ 10.00%
• Median HH income: $75,413
• Composite: 51.42/100
• National rank: #1728
• State rank: #239 of 590 in NY

Livability — Springs

• Score: 63/100
• State rank: #809
• US rank: #15666

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springs, NY
• County: Suffolk County · 679,920 people
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 21,882
• Household income: $129,883
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 896.0

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: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 32% Two or more races 23% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 5% Scotch-Irish 4% Italian 2%
• Foreign-born: 25% · Canada, Guatemala, Jamaica
• Languages at home: 68% English-only · Spanish 28% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -285.21%
• Current HPI: 444.1499
• Rent YoY: ▲ 12.28%
• 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

+176.8% since first listed

7 events — show timeline

• 2026-02-26 Listed $2,295,000 OneKey® MLS as Distributed by MLS Grid
• 2023-12-29 Sold (Public Records) $850,000 Public Records
• 2023-10-03 Sold (MLS) $850,000 OneKey® MLS as Distributed by MLS Grid
• 2023-08-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-07-24 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2023-07-19 Listed $829,000 OneKey® MLS as Distributed by MLS Grid
• 2023-07-17 Coming Soon $829,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+10.4%/yr

Latest (2025): $6,740 · +0.0% YoY. Source: county tax records.