365 Route 111 Unit B6 · Smithtown, NY 11787

$259,900

1 bd · 1.0 ba · 800 sqft · Condo · 15 Days on market

Built 1965

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Why this score? — see what drove the F 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 +7.5/15.0
• Schools +6.6/10.0
• Cash flow +5.8/30.0
• 1% rule +5.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this Beautiful One Bedroom Unit in Tanglewood ---Skip the Rent and Step into Ownership with this stunning, sun-drenched second-floor co-op-Featuring vaulted ceilings and an open-concept layout, making this unit feels incredibly spacious and modern. It is Freshly painted with gleaming oak hardwood floors throughout. The large living room features a cozy fireplace, while the versatile office/sitting area can easily transition into a formal dining room. The eat-in kitchen is equipped with young appliances and sliders that lead to your private, updated terrace—perfect for morning coffee. The spacious bedroom is boasting double closets, complemented with ample storage throughout

Key facts

• One bedroom unit
• Eat-in kitchen
• Cozy fireplace

Tags

• ONE BEDROOM UNIT
• VAULTED CEILINGS
• OPEN-CONCEPT LAYOUT
• COZY FIREPLACE
• EAT-IN KITCHEN
• PRIVATE UPDATED TERRACE

Property features AI

Finance

• HOA & community: Association: Fairfield Management; Monthly association fee; Association covers common area maintenance, exterior maintenance, gas, grounds care, heat, hot water, sewer, snow removal, trash and water

Exterior

• Parking: 2 parking spaces; Common parking lot
• Utilities: PSEG electric; Public sewer; Cable connected; Electricity connected; Natural gas connected; Sewer connected; Trash collection (public); Water connected
• Home design: Stock cooperative; Updated/remodeled condition; Two-story building; unit on upper level; Entry on level 1
• Construction: Brick and vinyl siding exterior
• Exterior features: Balcony; Landscaped grounds; Near public transit; Near shops

Interior

• Kitchen: Dishwasher; Gas cooktop; Gas oven; Refrigerator
• Bedrooms: Unit located on second floor
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating (natural gas); Wall/window air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Entrance foyer; High ceilings; Recessed lighting; Blinds; Insulated windows; Terrace
• Laundry & utility: Laundry in basement (common area)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $260k.

Deal economics

• At list price, monthly cash flow is $-524 ($-6k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $256k (1.5% below list) — sets the bar for market timing.
• Cap rate 3.9% vs local median 1.9% in Smithtown — 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 68/100 on livability (#550 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F, commute F, cost of living F.
• Hauppauge Union Free School District (suburban): math 78% / reading 65% proficiency, ranked #82 of 590 in NY (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Forest Brook Elementary School (math 74% / reading 74%, grade A, #314 of 2,108 statewide, top 17%, 369 students, 19% FRL); Hauppauge Middle School (math 57% / reading 77%, grade A-, #101 of 729 statewide, top 15%, 748 students, 19% FRL); Hauppauge High School (math 97% / reading 42%, grade B, #715 of 1,100 statewide, top 67%, 1,079 students, 17% FRL).
• Market conditions: 171 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 15 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $256,001 (1.5% below list)

Questions for the listing agent

1. 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?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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: 1.05% ✓
• Cap rate: 3.87%
• Cash-on-cash: -8.65%
• DSCR: 0.62
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -31.2%
• Equity multiple: -0.03×
• Total profit: $-74,925
• Equity at exit: $38,752

10-year hold

• IRR: -32.9%
• Equity multiple: -0.45×
• Total profit: $-105,862
• Equity at exit: $22,471

Cash invested: $72,772 (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 11787

• Active inventory: 171
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,734 medium
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,898/yr
• Insurance: −$108
• HOA est. from 1 same-building comp: −$888
• Vacancy / Maint / Mgmt: −$574
• Net cashflow: $-524

Break-even live

Break-even rent $3,398

Max offer price $184,024

Occupancy floor —

Sensitivity live

Price	-10% $-345	-5% $-435	+0% $-524	+5% $-614	+10% $-704
Rent	-10% $-740	-5% $-632	+0% $-524	+5% $-416	+10% $-308
Rate	-1.0pp $-393	-0.5pp $-458	base $-524	+0.5pp $-592	+1.0pp $-660

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
433 Lincoln Blvd Unit 1-2L Hauppauge, NY	1.0	1.0	720	$2,650	$3.68	22d	1	1.11mi
1710 Devonshire Rd Hauppauge, NY	3.0	1.0–2.0	640	$2,780	$4.34	1d	22	1.27mi
4248 Maple Ave Smithtown, NY	1.0–2.0	1.0–2.0	876	$2,995	$3.42	2d	1	1.34mi
109 E Main St Unit 2 Smithtown, NY	1.0	1.0	700	$2,500	$3.57	44d	1	1.47mi

HOA detail condo

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

Listing history 2 events

1. 2026-04-11
   status Pending
2. 2026-03-27
   listed $259,900 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $32,806
• − Mortgage interest: −$14,558
• − Property taxes: −$3,898
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,625
• − Management: −$2,625
• − HOA: −$10,656
• − Depreciation: −$7,561
• Taxable loss: −$10,416
• Est. tax savings @ 24.0%: +$2,500
• After-tax cash flow: $-3,793/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: Hauppauge Union Free School District
• NCES district ID: 3613980
• Math proficiency: 78% ▬ 0.00%
• Reading proficiency: 65% ▼ -14.00%
• Median HH income: $104,329
• Composite: 65.87/100
• National rank: #450
• State rank: #82 of 590 in NY

Livability — Smithtown

• Score: 68/100
• State rank: #550
• US rank: #9881

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Smithtown, NY
• City population: 34,656
• Population (ZIP): 34,656

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 11% Two or more races 8% Asian 5%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 5% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 8% · Canada, China, Jamaica
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 3% Chinese 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: ▼ -670.62%
• Current HPI: 301.0617
• Rent YoY: —
• Metro: —
• 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

• 2026-04-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-27 Listed $259,900 OneKey® MLS as Distributed by MLS Grid