5 Wedgewood Dr · Coram, NY 11727

$950,000

6 bd · 3.9 ba · 2,450 sqft · MultiFamily public records · 103 Days on market

Built 1950 1.00 ac lot $388/sqft · 32% below area Est $1399k · 32% under

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Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Cash flow +13.4/30.0
• Schools +5.3/10.0
• 1% rule +4.1/10.0
• DSCR +4.0/10.0
• Rent growth +3.7/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Legal 3-family 1 acre home in Coram. This well-maintained property offers three separate units, providing excellent income potential for investors or the perfect setup for owner-occupants looking to offset their mortgage. Each unit features comfortable living spaces, kitchens, and private living areas, offering flexibility for tenants or extended family. Situated on a spacious property with ample parking and convenient access to shopping, dining, major roadways, and public transportation. A great investment opportunity - don’t miss the chance to add this versatile property to your portfolio! 1st floor, basement and 2nd floor 2 bedroom apartment will be delivered vacant. Unit 1: 3 bed 2 bath, Unit 2: 2 bed 2 bath Unit 3: 1 bed 1 bath. Full finished basement. Financed Solar Panels.

Key facts

• Private living areas
• Income potential
• Ample parking

Tags

• SEPARATE UNITS
• INCOME POTENTIAL
• COMFORTABLE LIVING SPACES
• PRIVATE LIVING AREAS
• SPACIOUS PROPERTY
• AMPLE PARKING

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1-bath units multifamily listed at $950k.

Deal economics

• At list price, monthly cash flow is $12 ($149/yr) — positive. Per door: $4/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $861k (9.4% below list).
• Recommended offer: $861k (9.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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.

Location & tenants

• Location reads 66/100 on livability (#646 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, schools B; Watch: amenities F, commute F, cost of living F.
• Middle Country Central School District (suburban): math 60% / reading 56% proficiency, ranked #217 of 590 in NY (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.7%/yr); 232 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• At $8,610/mo this rent would consume 100% of the median local household income ($103k/yr) (locally 994% 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 $7k of loan paydown is wiped out by about $28k 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.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($864k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago 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 $390k; list at $950k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 72% 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.

Recommended offer $861,000 (9.4% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.91% ✗
• Cap rate: 6.31%
• Cash-on-cash: 0.06%
• DSCR: 1.00
• GRM: 9.2

CMA / ARV

• ARV (median comp): $1,399,389
• List price: $950,000
• Delta: -32.11%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.66% rent growth · sell at horizon

5-year hold

• IRR: -14.3%
• Equity multiple: 0.48×
• Total profit: $-138,263
• Equity at exit: $141,648

10-year hold

• IRR: -2.9%
• Equity multiple: 0.79×
• Total profit: $-56,237
• Equity at exit: $82,139

Cash invested: $266,000 (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 11727

• Rents YoY: 4.7%
• Active inventory: 232
• Price-to-rent: 27.6×

Monthly cashflow live

• Estimated rent: $8,610 high
• Mortgage (P&I): −$4,982
• Tax from tax record: −$1,412 /mo · $16,941/yr
• Insurance: −$396
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,808
• Net cashflow: $12

Break-even live

Break-even rent $8,594

Max offer price $950,000

Occupancy floor 95%

Sensitivity live

Price	-10% $550	-5% $281	+0% $12	+5% $-256	+10% $-525
Rent	-10% $-668	-5% $-328	+0% $12	+5% $353	+10% $693
Rate	-1.0pp $491	-0.5pp $254	base $12	+0.5pp $-234	+1.0pp $-484

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$8,610
Total (3 units)			$8,610

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: $237,500
• Closing costs: $28,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
127 Berkeley Ave Selden, NY	5.0	2.0	1598	$4,500	$2.82	20d	1	1.16mi

Listing history 25 events

1. 2026-06-21
   days on market $950,000 Active 103 DOM
2. 2026-06-18
   days on market $950,000 Active 100 DOM
3. 2026-06-17
   days on market $950,000 Active 99 DOM
4. 2026-06-16
   days on market $950,000 Active 98 DOM
5. 2026-06-15
   days on market $950,000 Active 97 DOM
6. 2026-06-13
   days on market $950,000 Active 95 DOM
7. 2026-06-09
   days on market $950,000 Active 91 DOM
8. 2026-06-08
   days on market $950,000 Active 90 DOM
9. 2026-06-07
   days on market $950,000 Active 89 DOM
10. 2026-06-04
    days on market $950,000 Active 86 DOM
11. 2026-06-03
    days on market $950,000 Active 85 DOM
12. 2026-06-02
    days on market $950,000 Active 84 DOM
13. 2026-06-01
    days on market $950,000 Active 83 DOM
14. 2026-05-31
    days on market $950,000 Active 82 DOM
15. 2026-05-04
    price $950,000 796-char remark

    Show marketing remark (796 chars)

    Legal 3-family 1 acre home in Coram. This well-maintained property offers three separate units, providing excellent income potential for investors or the perfect setup for owner-occupants looking to offset their mortgage. Each unit features comfortable living spaces, kitchens, and private living areas, offering flexibility for tenants or extended family. Situated on a spacious property with ample parking and convenient access to shopping, dining, major roadways, and public transportation. A great investment opportunity - don’t miss the chance to add this versatile property to your portfolio! 1st floor, basement and 2nd floor 2 bedroom apartment will be delivered vacant. Unit 1: 3 bed 2 bath, Unit 2: 2 bed 2 bath Unit 3: 1 bed 1 bath. Full finished basement. Financed Solar Panels.

16. 2026-03-10
    listed $999,999 Active 796-char remark

    Show marketing remark (796 chars)

    Legal 3-family 1 acre home in Coram. This well-maintained property offers three separate units, providing excellent income potential for investors or the perfect setup for owner-occupants looking to offset their mortgage. Each unit features comfortable living spaces, kitchens, and private living areas, offering flexibility for tenants or extended family. Situated on a spacious property with ample parking and convenient access to shopping, dining, major roadways, and public transportation. A great investment opportunity - don’t miss the chance to add this versatile property to your portfolio! 1st floor, basement and 2nd floor 2 bedroom apartment will be delivered vacant. Unit 1: 3 bed 2 bath, Unit 2: 2 bed 2 bath Unit 3: 1 bed 1 bath. Full finished basement. Financed Solar Panels.

17. 2019-03-21
    soldstatus $390,000
18. 2016-05-20
    soldstatus $255,000
19. 2016-05-05
    soldstatus $250,000 132-char remark

    Show marketing remark (132 chars)

    This Is A Legal 3 Family Dwelling, All Hardwood Floors, Large Property, Full Basement, Additional information: Appearance:Excellent+

20. 2016-05-05
    soldstatus $250,000 Closed

    Show marketing remark (132 chars)

    This Is A Legal 3 Family Dwelling, All Hardwood Floors, Large Property, Full Basement, Additional information: Appearance:Excellent+

21. 2015-10-02
    status Under Contract
22. 2015-05-19
    listed $299,850 New

    Show marketing remark (132 chars)

    This Is A Legal 3 Family Dwelling, All Hardwood Floors, Large Property, Full Basement, Additional information: Appearance:Excellent+

23. 2015-05-19
    listed $299,850 132-char remark

    Show marketing remark (132 chars)

    This Is A Legal 3 Family Dwelling, All Hardwood Floors, Large Property, Full Basement, Additional information: Appearance:Excellent+

24. 2014-12-31
    historical
25. 2014-07-21
    listed $339,000

ⓘ 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: $16,941 · $1,412/mo
• Projected year-2 tax: $16,941 · $1,412/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $103,320
• − Mortgage interest: −$53,215
• − Property taxes: −$16,941
• − Insurance: −$4,750
• − Repairs & maintenance: −$8,266
• − Management: −$8,266
• − Depreciation: −$27,636
• Taxable loss: −$15,753
• Est. tax savings @ 24.0%: +$3,781
• After-tax cash flow: $3,930/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: Middle Country Central School District
• NCES district ID: 3619200
• Math proficiency: 60% ▼ -1.00%
• Reading proficiency: 56% ▼ -5.00%
• Median HH income: $86,140
• Composite: 52.89/100
• National rank: #1532
• State rank: #217 of 590 in NY

Livability — Coram

• Score: 66/100
• State rank: #646
• US rank: #12097

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coram, NY
• County: Suffolk County · 679,920 people
• City population: 28,495
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 28,495
• Household income: $103,287
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 994.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 50% Hispanic / Latino 19% Two or more races 18% Black 15% Asian 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 8% Dominican 4%
• Common ancestry: Romanian 4% Scotch-Irish 2% Lithuanian 1%
• Foreign-born: 22% · Canada, South Korea, Jamaica
• Languages at home: 72% English-only · Spanish 12% Other Indo-European 8% Arabic 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: ▼ -571.88%
• Current HPI: 388.8297
• Rent YoY: ▲ 4.66%
• 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

+180.2% since first listed

11 events — show timeline

• 2026-05-04 Price Changed $950,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-10 Listed $999,999 OneKey® MLS as Distributed by MLS Grid
• 2019-03-21 Sold (Public Records) $390,000 Public Records
• 2016-05-20 Sold (Public Records) $255,000 Public Records
• 2016-05-05 Sold (MLS) $250,000 OneKey® MLS as Distributed by MLS Grid
• 2016-05-05 Sold (MLS) $250,000 MLSLI
• 2015-10-02 Pending — MLSLI
• 2015-05-19 Listed $299,850 MLSLI
• 2015-05-19 Listed $299,850 OneKey® MLS as Distributed by MLS Grid
• 2014-12-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-07-21 Listed $339,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+2.5%/yr

Latest (2025): $16,941 · +0.0% YoY. Source: county tax records.