35 Library Ave Unit 3 I · Westhampton Beach, NY 11978

$899,000

2 bd · 3.0 ba · 1,700 sqft · Condo · 35 Days on market

Built 1970 Good condition

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.6/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0

Listing remarks

WELCOME TO HARBOUR HOUSE, THE HIDDEN CHARM OF WESTHAMPTON BEACH, RENOVATED 2 BED/3 FULL BATH DUPLEX, OFFERS. A SERENE RETREATWITH BEAUTIFUL WATER VIEWS AND EASY ACCESSIBILITY TO ALL. LOCATED BTWN QUANTUCK BAY AND MAIN ST, THIS UNIT FEATURES A BRIGHT AND INVITING LIVING ROOM, KITCHEN AND ENTERTAINING AREA. BOTH BEDROOMS OFFER A TRANQUIL VIEW. THERE IS A HEATED GUNITE POOL EXCLUSIVELY FOR THE RESIDENTS OF HARBOUR HOUSE, WHERE YOU CAN SIT AND ENJOY WHILE LOOKING OUT AT THE BEAUTIFULLY MANICURED GROUNDS INCLUDING A BOAT DOCK WHICH IS AVAIL TO ALL RESIDENTS AT NO ADDITIONAL COST. ALL THIS AND JUST A SHORT DISTANCE TO WESTHAMPTON BEACH VILLAGE SHOPS, CAFES AND RESTAURANTS. QUARTERLY MAINT INCLUDE

Key facts

• Boat dock
• Manicured grounds
• Heated gunite pool

Tags

• HEATED GUNITE POOL
• BOAT DOCK
• MANICURED GROUNDS
• SHORT DISTANCE TO SHOPS

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath condo listed at $899k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $6k ($69k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $899k).
• Recommended offer: $872k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.6% vs local median 9.3% in Westhampton Beach — 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 64/100 on livability (#740 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, schools A; Watch: amenities F, commute F, cost of living F.
• Westhampton Beach Union Free School District (suburban): math 72% / reading 75% proficiency, ranked #81 of 590 in NY (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 112 active listings in the ZIP; 9 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 $15,740/mo this rent would consume 151% of the median local household income ($125k/yr) (locally 43% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $96k of equity ($6k loan paydown + $90k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $252k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$155k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($872k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $872,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.75% ✓
• Cap rate: 14.60%
• Cash-on-cash: 29.66%
• DSCR: 2.32
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 45.1%
• Equity multiple: 4.41×
• Total profit: $857,108
• Equity at exit: $809,890

10-year hold

• IRR: 39.1%
• Equity multiple: 9.88×
• Total profit: $2,236,495
• Equity at exit: $1,746,559

Cash invested: $251,720 (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 11978

• Home prices YoY: 2.9%
• Active inventory: 112
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $15,740 medium
• Mortgage (P&I): −$4,714
• Tax est. 1.5%: −$1,124 /mo · $13,485/yr
• Insurance: −$375
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,305
• Net cashflow: $5,762

Break-even live

Break-even rent $8,447

Max offer price $899,000

Occupancy floor 58%

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3047 Mitchell Rd Westhampton Beach, NY	2.0	2.5	1500	$65,000	$43.33	24d	1	0.08mi
3041 Mitchell Rd Westhampton Beach, NY	2.0	3.0	1550	$15,000	$9.68	44d	1	0.10mi
3013 Mitchell Rd Westhampton Beach, NY	2.0	3.5	1500	$20,000	$13.33	24d	1	0.11mi
188 Main St Westhampton Beach, NY	2.0	2.5	1400	$5,000	$3.57	22d	1	0.26mi
31 Liberty St Westhampton Beach, NY	3.0	1.5	2000	$40,000	$20.00	44d	1	0.77mi
35 Maple St Westhampton Beach, NY	3.0	2.5	1696	$28,000	$16.51	44d	1	0.82mi
298 Dune Rd Westhampton Beach, NY	3.0	2.0	1800	$50,000	$27.78	24d	1	1.15mi
50 Hazelwood Ave Westhampton Beach, NY	3.0	2.0	1112	$20,000	$17.99	24d	1	1.28mi
19 Bishop Ave Westhampton, NY	3.0	2.0	1514	$15,000	$9.91	19d	1	1.30mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: waterlandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $899,000 Active 35 DOM
2. 2026-06-17
   days on market $899,000 Active 34 DOM
3. 2026-06-16
   days on market $899,000 Active 33 DOM
4. 2026-06-15
   days on market $899,000 Active 32 DOM
5. 2026-06-13
   days on market $899,000 Active 30 DOM
6. 2026-06-09
   days on market $899,000 Active 26 DOM
7. 2026-06-08
   days on market $899,000 Active 25 DOM
8. 2026-06-08
   price $899,000 Active 24 DOM
9. 2026-06-07
   days on market $999,000 Active 24 DOM
10. 2026-06-04
    days on market $999,000 Active 21 DOM
11. 2026-06-03
    days on market $999,000 Active 20 DOM
12. 2026-06-02
    days on market $999,000 Active 19 DOM
13. 2026-06-01
    days on market $999,000 Active 18 DOM
14. 2026-05-31
    days on market $999,000 Active 17 DOM
15. 2026-04-08
    status Pending
16. 2026-03-27
    listed $999,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $188,885
• − Mortgage interest: −$50,358
• − Property taxes: −$13,485
• − Insurance: −$10,020
• − Repairs & maintenance: −$15,111
• − Management: −$15,111
• − Depreciation: −$26,153
• Taxable income: $58,648
• Est. tax owed @ 24.0%: −$14,075
• After-tax cash flow: $55,065/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This renovated 2-bedroom/3-bathroom condo in Westhampton Beach offers a serene retreat with water views and easy access to shops and restaurants. The interior is in good condition with fresh paint and modern finishes, while the exterior is well-maintained with a manicured landscape.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Trim and shrubbery — Improves landscaping and enhances curb appeal
• Rental Inspect and clean HVAC filters — Maintains HVAC efficiency and reduces utility costs

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Trim and shrubbery — Improves landscaping and enhances curb appeal ↑
• Rental Inspect and clean HVAC filters — Maintains HVAC efficiency and reduces utility costs ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Westhampton Beach Union Free School District
• NCES district ID: 3631020
• Math proficiency: 72% ▼ -5.00%
• Reading proficiency: 75% ▲ 3.00%
• Median HH income: $88,137
• Composite: 65.91/100
• National rank: #444
• State rank: #81 of 590 in NY

Livability — Westhampton Beach

• Score: 64/100
• State rank: #740
• US rank: #14093

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westhampton Beach, NY
• County: Suffolk County · 679,920 people
• City population: 4,705
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 4,705
• Household income: $125,179
• Rent vs Own: 11.8% rent · 88.2% own
• Severe rent burden: 43.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Two or more races 14% Hispanic / Latino 11% Black 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Romanian 7% Scotch-Irish 2% Italian 2%
• Foreign-born: 14% · Canada, Jamaica, China
• Languages at home: 84% English-only · Spanish 10% Other Indo-European 2% Russian/Polish/Slavic 1%

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: ▲ 13.02%
• Current HPI: 460.3964
• Rent YoY: —
• 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

2 events — show timeline

• 2026-04-08 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-27 Listed $999,000 OneKey® MLS as Distributed by MLS Grid