27 W Tiana Rd Unit A

Hampton Bays, NY 11946

$749,000B-

3 bd · 1.0 ba · 1,407 sqft · Built 1971 · SingleFamily · Active · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,882/mo
• Mortgage (P&I): −$3,928
• Tax + insurance: −$770
• HOA: −$0
• Vac / Maint / Mgmt: −$1,655
• Net cashflow: $1,529/mo
• Annual: $18,349/yr
• Cap rate: 8.74%
• Cash-on-cash: 8.75%
• DSCR: 1.39
• 1% rule: 1.05%
• Cash to close: $209,720

Investor read

• This is a 3-bed/1.0-bath single-family listed at $749k. Condition is rated average.
• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $749k).
• It's been on market 36 days — a 3% lower offer ($727k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $727k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k of value loss. Plan a longer hold.
• 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.
• Zoned schools: Hampton Bays Elementary School (math 32% / reading 52%, grade F, #1,361 of 2,108 statewide, top 67%, 682 students, 55% FRL); Hampton Bays Middle School (math 25% / reading 38%, grade F, #522 of 729 statewide, top 73%, 597 students, 64% FRL); Hampton Bays High School (math 98% / reading 57%, grade A-, #580 of 1,100 statewide, top 53%, 769 students, 53% FRL) — zoned schools average 58% FRL vs 38% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+16.1%/yr); 230 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 95d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 2 sale attempts; this cycle's ask has dropped $50k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $210k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.7% vs local median 5.9% in Hampton Bays — 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.
• At $7,882/mo this rent would consume 71% of the median local household income ($134k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1971 — 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?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen flooring — The parquet flooring in the kitchen appears to be in good condition.
• Minor: Bathroom flooring — The bathroom flooring appears to be in good condition.
• Minor: Interior wall paint — The interior wall paint appears to be in average condition.