311 5th St · Greenport, NY 11944

$1,579,000

3 bd · 2.0 ba · 1,800 sqft · SingleFamily · 17 Days on market

Built 1900 8,276 sqft lot

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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 +22.7/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +4.7/10.0
• Schools +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A Turn of the century well preserved 3 BR 2 Bath period home in the sought after Greenport Village. A spacious parcel with a two car garage, a secluded peaceful garden, work shed and a large private rear deck. The interior features include a formal dining room, a large kitchen with cathedral ceilings, a newly renovated bath, original pine flooring, and a delightful sun room, plus the classic front porch. All In close proximity to the Village beaches, Peconic Bay and transportation to NYC. This property is ready to welcome the next resident.

Key facts

• Formal dining room
• Cathedral ceilings
• Large kitchen

Tags

• SECLUDED PEACEFUL GARDEN
• TWO CAR GARAGE
• LARGE PRIVATE REAR DECK
• FORMAL DINING ROOM
• LARGE KITCHEN
• CATHEDRAL CEILINGS

Property features AI

Exterior

• Parking: Driveway; 2-car garage
• Utilities: Public sewer; Cable available; Electricity available; Water available
• Home design: Single family residence
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Kitchen: Eat-in kitchen; Electric water heater
• Bedrooms: Total rooms: 6
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Oil heating; No central cooling
• Interior features: First-floor bedroom; Eat-in kitchen; Formal dining room; Unfinished attic; Basement with Bilco door(s)
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $1.58M.

Deal economics

• At list price, monthly cash flow is $3k ($32k/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 $1.53M (2.8% below list).
• Recommended offer: $1.53M (2.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#217 in NY, #3,399 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, commute B+; Watch: housing C-, cost of living F.
• Greenport Union Free School District (town): math 55% / reading 45% proficiency, ranked #450 of 755 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Greenport Elementary School (math 47% / reading 62%, grade C, #908 of 2,108 statewide, top 46%, 339 students, 61% FRL); Greenport High School (math 52% / reading 54%, grade C-, #934 of 1,100 statewide, top 86%, 356 students, 63% FRL).
• Market conditions: 69 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $11k of loan paydown is wiped out by about $47k 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 17 days — a 2% lower offer ($1.56M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $575k; list at $1.58M implies a 175% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,534,626 (2.8% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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.
4. 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.
5. 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: 0.97% ✗
• Cap rate: 8.35%
• Cash-on-cash: 7.35%
• DSCR: 1.33
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $1,042,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
426 Clark St	0.11mi	3/2.5	1,672 (-7%)	3mo	$1,645,000	$984	78
239 5th Ave	0.36mi	3/2.0	1,750 (-3%)	15mo	$895,000	$511	66
516 4th St	0.26mi	4/2.5 (+1)	1,840 (+2%)	14mo	$1,195,000	$649	66
237 5th Ave	0.35mi	3/1.5	1,700 (-6%)	11mo	$1,250,000	$735	63
520 4th St	0.27mi	3/2.0	1,599 (-11%)	11mo	$890,000	$557	60
217 6th St	0.11mi	3/2.5	1,967 (+9%)	22mo	$1,550,000	$788	59
336 2nd St	0.53mi	4/2.0 (+1)	1,800 (0%)	15mo	$578,000	$321	58
216 North St	0.62mi	3/3.5	1,724 (-4%)	0mo	$999,000	$579	58
312 5th Ave	0.42mi	3/2.0	1,620 (-10%)	10mo	$875,000	$540	56
330 2nd St	0.53mi	2/2.0 (-1)	1,946 (+8%)	6mo	$675,000	$347	52
73175 Main Rd	0.69mi	3/2.0	1,540 (-14%)	2mo	$595,000	$386	42
520 Madison Ave	0.48mi	4/2.5 (+1)	2,000 (+11%)	17mo	$1,675,000	$838	38

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: -5.1%
• Equity multiple: 0.81×
• Total profit: $-84,175
• Equity at exit: $235,434

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $145,874
• Equity at exit: $136,523

Cash invested: $442,120 (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 11944

• Home prices YoY: -23.7%
• Active inventory: 69
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $15,346 medium
• Mortgage (P&I): −$8,280
• Tax from tax record: −$479 /mo · $5,744/yr
• Insurance: −$658
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,223
• Net cashflow: $2,706

Break-even live

Break-even rent $11,920

Max offer price $1,579,000

Occupancy floor 77%

Sensitivity live

Price	-10% $3,600	-5% $3,153	+0% $2,706	+5% $2,260	+10% $1,813
Rent	-10% $1,494	-5% $2,100	+0% $2,706	+5% $3,313	+10% $3,919
Rate	-1.0pp $3,502	-0.5pp $3,108	base $2,706	+0.5pp $2,297	+1.0pp $1,881

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: $394,750
• Closing costs: $47,370
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
237 6th St Greenport, NY	2.0	2.5	1452	$14,000	$9.64	12d	1	0.07mi
134 6th St Greenport, NY	3.0	2.0	1560	$18,500	$11.86	20d	1	0.18mi
131 6th St Unit G Greenport, NY	3.0	2.5	2238	$5,000	$2.23	25d	1	0.22mi
248 5th Ave Greenport, NY	2.0	1.0	1306	$3,500	$2.68	45d	1	0.39mi
312 5th Ave Greenport, NY	4.0	2.0	1900	$12,000	$6.32	45d	1	0.43mi
123 Sterling Ave #2 Greenport, NY	3.0	3.0	1528	$45,000	$29.45	45d	1	0.78mi
3650 Bay Shore Rd Greenport, NY	3.0	3.0	2400	$10,000	$4.17	25d	1	1.20mi
485 Sutton Pl Greenport, NY	4.0	2.5	2026	$20,000	$9.87	45d	1	1.25mi

Listing history 13 events

1. 2026-06-21
   days on market $1,579,000 Active 17 DOM
2. 2026-06-21
   days on market $1,579,000 Active 16 DOM
3. 2026-06-18
   days on market $1,579,000 Active 14 DOM
4. 2026-06-17
   days on market $1,579,000 Active 13 DOM
5. 2026-06-16
   days on market $1,579,000 Active 12 DOM
6. 2026-06-15
   days on market $1,579,000 Active 11 DOM
7. 2026-06-13
   days on market $1,579,000 Active 9 DOM
8. 2026-06-12
   days on market $1,579,000 Active 8 DOM
9. 2026-06-09
   days on market $1,579,000 Active 5 DOM
10. 2026-06-08
    days on market $1,579,000 Active 4 DOM
11. 2026-06-07
    days on market $1,579,000 Active 3 DOM
12. 2026-06-05
    remarks 546-char remark
13. 2026-06-05
    listed $1,579,000 Active 1 DOM

ⓘ 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: $5,744 · $479/mo
• Projected year-2 tax: $16,215 · $1,351/mo
• Expected delta: +$10,470/yr (+$873/mo · 182.3%)

ⓘ 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 5/10 Major 7 d/yr ≥90°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $184,155
• − Mortgage interest: −$88,449
• − Property taxes: −$5,744
• − Insurance: −$7,895
• − Repairs & maintenance: −$14,732
• − Management: −$14,732
• − Depreciation: −$45,935
• Taxable income: $6,668
• Est. tax owed @ 24.0%: −$1,600
• After-tax cash flow: $30,878/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: Greenport Union Free School District
• NCES district ID: 3612840
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $54,490
• Composite: 45.25/100
• National rank: #5759
• State rank: #450 of 755 in NY

Livability — Greenport

• Score: 76/100
• State rank: #217
• US rank: #3399

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenport, NY
• City population: 4,744
• Population (ZIP): 4,744

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 23% Two or more races 6% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 6% Lithuanian 2% Subsaharan African 2%
• Foreign-born: 19% · Canada, China
• Languages at home: 69% English-only · Spanish 22% German/W. Germanic 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: ▼ -143.97%
• Current HPI: 462.3431
• 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

+174.6% since first listed

2 events — show timeline

• 2026-06-01 Listed $1,579,000 OneKey® MLS as Distributed by MLS Grid
• 2015-05-26 Sold (Public Records) $575,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $5,744 · +1.2% YoY. Source: county tax records.