5 Broadhurst St

Coram, NY 11776

$649,998D

4 bd · 1.5 ba · 1,764 sqft · Built 1975 · SingleFamily · Active · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,478/mo
• Mortgage (P&I): −$3,409
• Tax + insurance: −$667
• HOA: −$0
• Vac / Maint / Mgmt: −$940
• Net cashflow: $-538/mo
• Annual: $-6,461/yr
• Cap rate: 5.30%
• Cash-on-cash: -3.55%
• DSCR: 0.84
• 1% rule: 0.69%
• Cash to close: $181,999

Investor read

• This is a 4-bed/1.5-bath single-family listed at $650k.
• At list price, monthly cash flow is $-538 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $555k (14.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $448k (31.1% below list).
• It's been on market 45 days — a 3% lower offer ($630k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $448k (31.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#646 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety B; Watch: amenities F, commute F, cost of living F.
• Brookhaven-Comsewogue Union Free School District (suburban): math 62% / reading 76% proficiency, ranked #123 of 590 in NY (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Clinton Avenue School (441 students, 43% FRL); John F Kennedy Middle School (math 37% / reading 52%, grade D, #348 of 729 statewide, top 50%, 822 students, 35% FRL); Comsewogue High School (math 86% / reading 92%, grade A+, #288 of 1,100 statewide, top 27%, 1,153 students, 30% FRL) — zoned schools average 36% FRL vs 19% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 142 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 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.
• Climate carrying-cost: major wind risk, 77% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.3% vs local median 3.5% in Coram — 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.
• This rent runs 45% of the median local income ($121k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 45 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
• Built in 1975 — 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.
• 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?
• 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?
• 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.