1060 Navy St

Orient, NY 11957

$1,625,000A

4 bd · 2.5 ba · 2,534 sqft · Built 1965 · SingleFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $22,745/mo
• Mortgage (P&I): −$8,522
• Tax + insurance: −$1,331
• HOA: −$0
• Vac / Maint / Mgmt: −$4,776
• Net cashflow: $8,116/mo
• Annual: $97,387/yr
• Cap rate: 12.29%
• Cash-on-cash: 21.40%
• DSCR: 1.95
• 1% rule: 1.40%
• Cash to close: $455,000

Investor read

• This is a 4-bed/2.5-bath single-family listed at $1.62M.
• At list price, monthly cash flow is $8k ($97k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($23k rent vs $1.62M).
• It's been on market 38 days — a 3% lower offer ($1.58M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.58M (3.0% below list) — sets the bar for market timing.
• In year one you build about $174k of equity ($11k loan paydown + $162k appreciation (10.0% local appreciation)).
• Location reads 57/100 on livability (#1,080 in NY) — a working-class tenant base; expect higher turnover. Strengths: crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Oysterponds Union Free School District (rural): math 30% / reading 60% proficiency, ranked #506 of 755 in NY (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 4% free/reduced lunch — higher-income household profile.
• Zoned schools: Oysterponds Elementary School (math 54% / reading 64%, grade B-, #745 of 2,108 statewide, top 39%, 80 students, 0% FRL) — zoned schools at 0% FRL track the district average.
• Zoned-school proficiency averages 60% at this address vs 45% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Oysterponds Union Free School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 25 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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).
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $200k; list at $1.62M implies a 712% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $455k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$279k 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

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.