26 Tuthills Ln

Jamesport, NY 11947

$1,650,000B+

4 bd · 2.5 ba · 3,643 sqft · Built 2026 · SingleFamily · Active · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $29,000/mo
• Mortgage (P&I): −$8,653
• Tax + insurance: −$2,750
• HOA: −$0
• Vac / Maint / Mgmt: −$6,090
• Net cashflow: $11,507/mo
• Annual: $138,087/yr
• Cap rate: 14.66%
• Cash-on-cash: 29.89%
• DSCR: 2.33
• 1% rule: 1.76%
• Cash to close: $462,000

Investor read

• This is a 4-bed/2.5-bath single-family listed at $1.65M. Condition is rated excellent.
• At list price, monthly cash flow is $12k ($138k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($29k rent vs $1.65M).
• It's been on market 27 days — a 2% lower offer ($1.63M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.63M (1.5% below list) — sets the bar for market timing.
• In year one you build about $61k of equity ($11k loan paydown + $50k appreciation (3.0% local appreciation)).
• Location reads 46/100 on livability (#1,185 in NY) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime A; Watch: amenities F, commute F, employment 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.
• Zoned schools: Aquebogue Elementary School (math 47% / reading 57%, grade C-, #988 of 2,108 statewide, top 49%, 474 students, 40% FRL); Riverhead Middle School (math 18% / reading 35%, grade F, #594 of 729 statewide, top 81%, 827 students, 57% FRL); Riverhead Senior High School (math 80% / reading 86%, grade A, #440 of 1,100 statewide, top 40%, 2,001 students, 52% FRL).
• Zoned-school proficiency averages 54% at this address vs 41% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Riverhead Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 18 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts 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.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $462k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$99k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.