62 Canoe Place Rd Unit 513/5 · Hampton Bays, NY 11946

$620,000

2 bd · 2.0 ba · 910 sqft · SingleFamily · 190 Days on market

Built 1991 0.36 ac lot $681/sqft · 15% above area Est $540k · 15% over $1329/mo HOA · 18% of rent

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Why this score? — see what drove the D+ 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 +19.9/30.0
• 1% rule +7.0/10.0
• DSCR +6.3/10.0
• Rent growth +5.0/5.0
• Schools +4.0/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• ARV discount +0.8/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover this beautifully maintained condo in the heart of Hampton Bays, perfectly situated just minutes from top restaurants, the Bay, and stunning beaches. This recently updated unit offers 2 spacious bedrooms and 2 full bathrooms, providing comfort, style, and convenience. Enjoy modern updates throughout, an inviting open layout, and a location that puts the best of the Hamptons right at your doorstep. Perfect for investment opportunities for summer rentals. All information are deemed accurate, but must be independently verified and buyers are to do their due-diligence.

Key facts

• Inviting open layout
• $1,329 HOA
• Community pool

Tags

• BEAUTIFULLY MAINTAINED CONDO
• RECENTLY UPDATED UNIT
• INVITING OPEN LAYOUT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $620k.

Deal economics

• At list price, monthly cash flow is $750 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $620k).
• Recommended offer: $546k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 6.4% in Hampton Bays — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 68/100 on livability (#551 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety B+; Watch: amenities F, commute F, cost of living F.
• Hampton Bays Union Free School District (suburban): math 45% / reading 44% proficiency, ranked #434 of 590 in NY (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+16.1%/yr); 172 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• At $7,415/mo this rent would consume 66% of the median local household income ($134k/yr) (locally 199% 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 $4k of loan paydown is wiped out by about $19k 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 $174k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 190 days — a 12% lower offer ($546k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $469k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $545,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 190 days. Have you received any prior offers? Is the seller open to a 12% 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 1.20% ✓
• Cap rate: 7.74%
• Cash-on-cash: 5.18%
• DSCR: 1.23
• GRM: 7.0

CMA / ARV

• ARV (median comp): $539,840
• List price: $620,000
• Delta: 14.85%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
162 Wakeman Rd	0.30mi	2/3.0	963 (+6%)	23mo	$920,000	$955	53
8 Park Ln	0.59mi	2/2.0	1,000 (+10%)	9mo	$685,000	$685	49
5 Chevy Chase Rd	0.62mi	2/1.0	1,025 (+13%)	11mo	$643,500	$628	36
23 Chevy Chase Rd	0.59mi	3/1.0 (+1)	1,025 (+13%)	10mo	$699,000	$682	34

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: -1.9%
• Equity multiple: 0.93×
• Total profit: $-12,917
• Equity at exit: $92,444

10-year hold

• IRR: 13.2%
• Equity multiple: 2.33×
• Total profit: $231,090
• Equity at exit: $53,606

Cash invested: $173,600 (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 11946

• Home prices YoY: -20.3%
• Rents YoY: 16.1%
• Active inventory: 172
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $7,415 medium
• Mortgage (P&I): −$3,251
• Tax from tax record: −$269 /mo · $3,231/yr
• Insurance: −$258
• HOA: −$1,329
• Vacancy / Maint / Mgmt: −$1,557
• Net cashflow: $750

Break-even live

Break-even rent $6,466

Max offer price $620,000

Occupancy floor 85%

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: $155,000
• Closing costs: $18,600
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
62 Canoe Place Rd #627 Hampton Bays, NY	2.0	1.0	661	$4,500	$6.81	43d	1	0.03mi
49 Canoe Place Rd #212 Hampton Bays, NY	1.0	1.0	672	$3,700	$5.51	43d	1	0.06mi
18 Old Riverhead Rd Hampton Bays, NY	3.0	2.0	1056	$13,500	$12.78	24d	1	0.82mi
18 Canal St Hampton Bays, NY	2.0	1.0	584	$11,000	$18.84	18d	1	0.84mi
12 Ridge Ln Hampton Bays, NY	2.0	1.0	900	$20,000	$22.22	43d	1	0.88mi
3 Windmill Ln Hampton Bays, NY	3.0	2.0	997	$5,000	$5.02	5d	1	1.12mi
94 Bay Ave E Hampton Bays, NY	2.0	2.0	1000	$20,000	$20.00	15d	1	1.14mi
11 Oakhurst Rd Hampton Bays, NY	3.0	2.0	1056	$35,000	$33.14	24d	1	1.41mi
11A Oakhurst Rd Hampton Bays, NY	2.0	1.0	1000	$50,000	$50.00	24d	1	1.42mi
20A Columbine Ave N Hampton Bays, NY	2.0	1.0	1073	$10,000	$9.32	14d	1	1.42mi
28 Bay Ave W Hampton Bays, NY	3.0	2.5	945	$66,000	$69.84	43d	1	1.46mi

HOA detail

• Monthly dues: $1,329 · $15,948/yr

Listing history 15 events

1. 2026-06-10
   status $620,000 Pending 190 DOM
2. 2026-06-09
   days on market $620,000 Active 190 DOM
3. 2026-06-08
   days on market $620,000 Active 189 DOM
4. 2026-06-07
   days on market $620,000 Active 188 DOM
5. 2026-06-04
   days on market $620,000 Active 185 DOM
6. 2026-06-03
   days on market $620,000 Active 184 DOM
7. 2026-06-02
   days on market $620,000 Active 183 DOM
8. 2026-06-01
   days on market $620,000 Active 182 DOM
9. 2026-05-31
   days on market $620,000 Active 181 DOM
10. 2025-12-01
    listed $620,000 Active 582-char remark

    Show marketing remark (582 chars)

    Discover this beautifully maintained condo in the heart of Hampton Bays, perfectly situated just minutes from top restaurants, the Bay, and stunning beaches. This recently updated unit offers 2 spacious bedrooms and 2 full bathrooms, providing comfort, style, and convenience. Enjoy modern updates throughout, an inviting open layout, and a location that puts the best of the Hamptons right at your doorstep. Perfect for investment opportunities for summer rentals. All information are deemed accurate, but must be independently verified and buyers are to do their due-diligence.

11. 2025-11-24
    historical
12. 2025-10-27
    listed $620,000 Active
13. 2022-08-08
    soldstatus $469,000
14. 2010-05-28
    soldstatus $285,000
15. 2005-03-10
    soldstatus $250,000

ⓘ 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: $3,231 · $269/mo
• Projected year-2 tax: $6,854 · $571/mo
• Expected delta: +$3,624/yr (+$302/mo · 112.2%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥90°F today · 21 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: $88,976
• − Mortgage interest: −$34,730
• − Property taxes: −$3,231
• − Insurance: −$3,100
• − Repairs & maintenance: −$7,118
• − Management: −$7,118
• − HOA: −$15,948
• − Depreciation: −$18,036
• Taxable loss: −$305
• Est. tax savings @ 24.0%: +$73
• After-tax cash flow: $9,069/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: Hampton Bays Union Free School District
• NCES district ID: 3613530
• Math proficiency: 45% ▼ -8.00%
• Reading proficiency: 44% ▼ -1.00%
• Median HH income: $70,274
• Composite: 40.18/100
• National rank: #3788
• State rank: #434 of 590 in NY

Livability — Hampton Bays

• Score: 68/100
• State rank: #551
• US rank: #9894

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hampton Bays, NY
• County: Suffolk County · 679,920 people
• City population: 15,819
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 15,819
• Household income: $133,918
• Rent vs Own: 18.1% rent · 81.9% own
• Severe rent burden: 199.0

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 (62%)
• Race & ethnicity: White 62% Hispanic / Latino 32% Two or more races 13% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 4% Slovak 2% Portuguese 2%
• Foreign-born: 26% · Canada, Jamaica, Guatemala
• Languages at home: 64% English-only · Spanish 29% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -118.82%
• Current HPI: 467.2466
• Rent YoY: ▲ 16.07%
• 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

+148.0% since first listed

6 events — show timeline

• 2025-12-01 Listed $620,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-24 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-10-27 Listed $620,000 OneKey® MLS as Distributed by MLS Grid
• 2022-08-08 Sold (Public Records) $469,000 Public Records
• 2010-05-28 Sold (Public Records) $285,000 Public Records
• 2005-03-10 Sold (Public Records) $250,000 Public Records

Property tax history

+1.6%/yr

Latest (2024): $3,231 · +0.0% YoY. Source: county tax records.