39 Corwith Ave · Bridgehampton, NY 11932

$3,195,000

4 bd · 2.0 ba · 1,484 sqft · SingleFamily public records · 28 Days on market

Built 1920 10,018 sqft lot Est $2502k · 28% over

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Why this score? — see what drove the B 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
• Schools +4.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

BRIDGEHAMPTON VILLAGE ORIGINAL. REIMAGINED. Located in the center of Bridgehampton Village, with proximity to Main Street, shops, dining, and transportation, yet offering a sense of remove that is increasingly rare. Ready for immediate luxury living and awaiting your personal vision - this is Village living, elevated. Dating back to Bridgehampton's early Village era, this 4-bedroom, 3+ bath home was thoughtfully reimagined in 2018 for contemporary Hamptons living, with a heated pool and pool house added while preserving its classic Hamptons aesthetic. The result is a home that is rooted and current, where clean, light-filled interiors unfold with ease from one space to the next for both eve

Key facts

• Refined mudroom
• Pool house
• Covered patio

Tags

• HEATED POOL
• POOL HOUSE
• FIRST-FLOOR ENSUITE BEDROOM
• REFINED MUDROOM
• DEDICATED WINE STORAGE
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $3.19M.

Deal economics

• At list price, monthly cash flow is $20k ($242k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($49k rent vs $3.19M).
• Recommended offer: $3.15M (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#874 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, schools B; Watch: amenities F, commute F, cost of living F.
• Bridgehampton Union Free School District (rural): math 50% / reading 40% proficiency, ranked #511 of 755 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 24 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).
• At $49,154/mo this rent would consume 340% of the median local household income ($174k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $342k of equity ($22k loan paydown + $320k 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 $895k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$549k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($3.15M) 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 $2.12M; list at $3.19M implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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.

Recommended offer $3,147,075 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.54% ✓
• Cap rate: 13.87%
• Cash-on-cash: 27.06%
• DSCR: 2.20
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $2,502,024
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Halsey Ave	0.09mi	3/3.0 (-1)	1,572 (+6%)	7mo	$2,650,000	$1,686	71

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 44.7%
• Equity multiple: 4.38×
• Total profit: $3,023,671
• Equity at exit: $2,878,309

10-year hold

• IRR: 38.7%
• Equity multiple: 9.82×
• Total profit: $7,891,028
• Equity at exit: $6,207,182

Cash invested: $894,600 (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 11932

• Home prices YoY: 2.9%
• Active inventory: 24
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $49,154 medium
• Mortgage (P&I): −$16,755
• Tax from tax record: −$570 /mo · $6,846/yr
• Insurance: −$1,331
• HOA: −$0
• Vacancy / Maint / Mgmt: −$10,322
• Net cashflow: $20,175

Break-even live

Break-even rent $23,616

Max offer price $3,195,000

Occupancy floor 54%

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: $798,750
• Closing costs: $95,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
59 Hildreth Ln Bridgehampton, NY	3.0	3.0	1680	$90,000	$53.57	22d	1	0.44mi
126 Narrow Ln Bridgehampton, NY	3.0	2.5	1296	$20,000	$15.43	1d	1	0.58mi

Listing history 19 events

1. 2026-06-18
   days on market $3,195,000 Active 28 DOM
2. 2026-06-17
   days on market $3,195,000 Active 27 DOM
3. 2026-06-16
   days on market $3,195,000 Active 26 DOM
4. 2026-06-15
   days on market $3,195,000 Active 25 DOM
5. 2026-06-13
   days on market $3,195,000 Active 23 DOM
6. 2026-06-09
   days on market $3,195,000 Active 19 DOM
7. 2026-06-08
   days on market $3,195,000 Active 18 DOM
8. 2026-06-07
   days on market $3,195,000 Active 17 DOM
9. 2026-06-04
   days on market $3,195,000 Active 14 DOM
10. 2026-06-03
    days on market $3,195,000 Active 13 DOM
11. 2026-06-02
    days on market $3,195,000 Active 12 DOM
12. 2026-06-01
    days on market $3,195,000 Active 11 DOM
13. 2026-05-31
    days on market $3,195,000 Active 10 DOM
14. 2026-05-21
    listed $3,195,000 Active
15. 2025-02-03
    historical
16. 2025-01-16
    listed
17. 2021-06-01
    soldstatus $2,120,000
18. 2019-05-17
    soldstatus $1,800,000
19. 2018-09-06
    soldstatus $975,000

ⓘ 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: $6,846 · $570/mo
• Projected year-2 tax: $30,421 · $2,535/mo
• Expected delta: +$23,575/yr (+$1,965/mo · 344.4%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥90°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $589,847
• − Mortgage interest: −$178,970
• − Property taxes: −$6,846
• − Insurance: −$15,975
• − Repairs & maintenance: −$47,188
• − Management: −$47,188
• − Depreciation: −$92,945
• Taxable income: $200,735
• Est. tax owed @ 24.0%: −$48,177
• After-tax cash flow: $193,923/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: Bridgehampton Union Free School District
• NCES district ID: 3605370
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 40% ▼ -10.00%
• Median HH income: $69,915
• Composite: 42.79/100
• National rank: #6761
• State rank: #511 of 755 in NY

Livability — Bridgehampton

• Score: 62/100
• State rank: #874
• US rank: #16891

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bridgehampton, NY
• County: Suffolk County · 679,920 people
• City population: 725
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 725
• Household income: $173,672
• Rent vs Own: 10.7% rent · 89.3% own

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 22% Black 10% Two or more races 6%
• Hispanic origin (detail): Mexican 12% Dominican 10%
• Common ancestry: Italian 5% Romanian 3% Scotch-Irish 3%
• Foreign-born: 32% · Canada, China
• Languages at home: 71% English-only · Spanish 17% Russian/Polish/Slavic 6% French/Haitian/Cajun 6%

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: ▲ 15.37%
• Current HPI: 546.5294
• 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

+227.7% since first listed

6 events — show timeline

• 2026-05-21 Listed $3,195,000 OneKey® MLS as Distributed by MLS Grid
• 2025-02-03 Rental Removed — ONEKEY
• 2025-01-16 Listed for Rent — ONEKEY
• 2021-06-01 Sold (Public Records) $2,120,000 Public Records
• 2019-05-17 Sold (Public Records) $1,800,000 Public Records
• 2018-09-06 Sold (Public Records) $975,000 Public Records

Property tax history

+8.1%/yr

Latest (2022): $6,846 · +0.0% YoY. Source: county tax records.