24 Wisteria Dr · Remsenburg-Speonk, NY 11960

$1,450,000

6 bd · 3.0 ba · 3,857 sqft · SingleFamily public records · 71 Days on market

Built 2010 0.95 ac lot $376/sqft · 44% below area Est $2615k · 45% under

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Why this score? — see what drove the A 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.9/10.0
• Schools +4.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Discover this impressive 6-bedroom home in the charming hamlet of Remsenburg, just minutes from the beautiful Hampton beaches. Offering 3,899 sq. ft. of living space, the open floor plan features a bright living room with cathedral ceilings, a stunning fireplace, an eat-in kitchen, and a dining room—all overlooking a private backyard oasis. The spacious primary suite boasts two walk-in closets and a luxurious bath, complemented by five additional bedrooms, three baths, and a versatile loft area. Step outside to enjoy the heated 20x40 saltwater pool, expansive decking with a hot tub, and an all-weather tennis/basketball court—perfect for relaxation and recreation. Additional highlights include a 2-car garage, central air conditioning, a security system, central vacuum, and a sprinkler system. With a 2,100 sq. ft. plus basement ready for customization and low taxes in the desirable Remsenburg-Westhampton school district, this property is ideal as a summer getaway or a year-round retreat. 75 minutes from NYC.

Key facts

• Hot tub
• Versatile loft area
• Two walk in closets

Tags

• PRIVATE BACKYARD OASIS
• HEATED SALTWATER POOL
• EXPANSIVE DECKING
• HOT TUB
• VERSATILE LOFT AREA
• TWO WALK IN CLOSETS

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath single-family listed at $1.45M.

Deal economics

• At list price, monthly cash flow is $11k ($137k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($26k rent vs $1.45M).
• Recommended offer: $1.36M (6.0% below list) — sets the bar for market timing.
• Cap rate 15.7% vs local median 7.2% in Remsenburg-Speonk — 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: area grade A — affects rentability + tenant quality, not the cash-flow math above.
• Remsenburg-Speonk Union Free School District (suburban): math 60% / reading 40% proficiency, ranked #389 of 755 in NY (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 40 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).

Forward outlook

• In year one you build about $123k of equity ($10k loan paydown + $113k appreciation (7.8% local appreciation)).
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (7.8% appreciation + 3.0% rent growth), your $406k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$197k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($1.36M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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 $675k; list at $1.45M implies a 115% 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 $1,363,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.80% ✓
• Cap rate: 15.74%
• Cash-on-cash: 33.75%
• DSCR: 2.50
• GRM: 4.6

CMA / ARV

• ARV (median comp): $2,615,309
• List price: $1,450,000
• Delta: -44.56%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29 Bridle Path	0.34mi	6/3.5	3,708 (-4%)	7mo	$2,750,000	$742	70
50A S Phillips Ave	0.72mi	5/3.0 (-1)	3,934 (+2%)	0mo	$1,900,000	$483	58
21 Rogers Ln	0.71mi	5/5.0 (-1)	3,978 (+3%)	1mo	$2,325,000	$584	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 46.9%
• Equity multiple: 4.22×
• Total profit: $1,306,721
• Equity at exit: $1,082,778

10-year hold

• IRR: 42.3%
• Equity multiple: 9.01×
• Total profit: $3,250,263
• Equity at exit: $2,131,593

Cash invested: $406,000 (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 11960

• Home prices YoY: 2.1%
• Active inventory: 40
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $26,040 medium
• Mortgage (P&I): −$7,604
• Tax from tax record: −$945 /mo · $11,339/yr
• Insurance: −$604
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,468
• Net cashflow: $11,418

Break-even live

Break-even rent $11,586

Max offer price $1,450,000

Occupancy floor 51%

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: $362,500
• Closing costs: $43,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8 Sweetgrass Rd Westhampton, NY	5.0	4.5	4050	$13,000	$3.21	1d	1	1.37mi
6 Bay Meadow Ln Westhampton, NY	6.0	5.0	3500	$40,000	$11.43	43d	1	1.39mi

Listing history 20 events

1. 2026-06-04
   status $1,450,000 Pending 71 DOM
2. 2026-06-03
   days on market $1,450,000 Active 71 DOM
3. 2026-06-02
   days on market $1,450,000 Active 70 DOM
4. 2026-06-01
   days on market $1,450,000 Active 69 DOM
5. 2026-05-31
   days on market $1,450,000 Active 68 DOM
6. 2026-03-24
   listed $1,450,000 Active 1033-char remark

   Show marketing remark (1033 chars)

   Discover this impressive 6-bedroom home in the charming hamlet of Remsenburg, just minutes from the beautiful Hampton beaches. Offering 3,899 sq. ft. of living space, the open floor plan features a bright living room with cathedral ceilings, a stunning fireplace, an eat-in kitchen, and a dining room—all overlooking a private backyard oasis. The spacious primary suite boasts two walk-in closets and a luxurious bath, complemented by five additional bedrooms, three baths, and a versatile loft area. Step outside to enjoy the heated 20x40 saltwater pool, expansive decking with a hot tub, and an all-weather tennis/basketball court—perfect for relaxation and recreation. Additional highlights include a 2-car garage, central air conditioning, a security system, central vacuum, and a sprinkler system. With a 2,100 sq. ft. plus basement ready for customization and low taxes in the desirable Remsenburg-Westhampton school district, this property is ideal as a summer getaway or a year-round retreat. 75 minutes from NYC.

7. 2025-11-20
   price $1,100,000
8. 2025-03-31
   price $1,749,000
9. 2025-03-18
   listed $1,899,000 Active
10. 2020-04-27
    historical
11. 2020-02-05
    price $949,000
12. 2020-01-29
    price $999,000
13. 2019-11-12
    price $1,100,000
14. 2019-10-07
    listed $1,200,000 New
15. 2016-12-05
    historical
16. 2016-11-29
    listed $949,000 New
17. 2014-02-21
    historical
18. 2013-10-30
    listed $879,000
19. 2000-08-22
    soldstatus $675,000
20. 1998-09-29
    soldstatus $439,000

ⓘ 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: $11,339 · $945/mo
• Projected year-2 tax: $17,922 · $1,494/mo
• Expected delta: +$6,583/yr (+$549/mo · 58.1%)

ⓘ 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 6 d/yr ≥90°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $312,477
• − Mortgage interest: −$81,223
• − Property taxes: −$11,339
• − Insurance: −$7,250
• − Repairs & maintenance: −$24,998
• − Management: −$24,998
• − Depreciation: −$42,182
• Taxable income: $120,487
• Est. tax owed @ 24.0%: −$28,917
• After-tax cash flow: $108,103/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: Remsenburg-Speonk Union Free School District
• NCES district ID: 3624420
• Math proficiency: 60% ▲ 10.00%
• Reading proficiency: 40% ▼ -10.00%
• Median HH income: $79,972
• Composite: 47.7/100
• National rank: #4915
• State rank: #389 of 755 in NY

Livability — Remsenburg-Speonk

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Remsenburg-Speonk, NY
• City population: 1,346
• Population (ZIP): 1,037

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 (100%)
• Race & ethnicity: White 100%
• Common ancestry: Iranian 9% Romanian 8% Scotch-Irish 1%
• Foreign-born: 3%

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: ▲ 7.81%
• Current HPI: 386.454
• 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

+230.3% since first listed

15 events — show timeline

• 2026-03-24 Listed $1,450,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-20 Price Changed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-31 Price Changed $1,749,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-18 Listed $1,899,000 OneKey® MLS as Distributed by MLS Grid
• 2020-04-27 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-02-05 Price Changed $949,000 OneKey® MLS as Distributed by MLS Grid
• 2020-01-29 Price Changed $999,000 OneKey® MLS as Distributed by MLS Grid
• 2019-11-12 Price Changed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2019-10-07 Listed $1,200,000 OneKey® MLS as Distributed by MLS Grid
• 2016-12-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-11-29 Listed $949,000 OneKey® MLS as Distributed by MLS Grid
• 2014-02-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-10-30 Listed $879,000 OneKey® MLS as Distributed by MLS Grid
• 2000-08-22 Sold (Public Records) $675,000 Public Records
• 1998-09-29 Sold (Public Records) $439,000 Public Records

Property tax history

+1.5%/yr

Latest (2024): $11,339 · +0.0% YoY. Source: county tax records.