344 Boyle Rd

Selden, NY 11784

$525,000C-

4 bd · 1.5 ba · 1,833 sqft · Built 1972 · SingleFamily · Pending · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,462/mo
• Mortgage (P&I): −$2,753
• Tax + insurance: −$525
• HOA: −$0
• Vac / Maint / Mgmt: −$937
• Net cashflow: $246/mo
• Annual: $2,952/yr
• Cap rate: 6.86%
• Cash-on-cash: 2.01%
• DSCR: 1.09
• 1% rule: 0.85%
• Cash to close: $147,000

Investor read

• This is a 4-bed/1.5-bath single-family listed at $525k.
• At list price, monthly cash flow is $246 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $446k (15.0% below list).
• It's been on market 25 days — a 2% lower offer ($517k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $446k (15.0% 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 $16k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#637 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety B; Watch: crime C-, amenities F, commute 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.
• Zoned schools: Stagecoach School (math 62% / reading 72%, grade B+, #525 of 2,108 statewide, top 27%, 353 students, 43% FRL); Selden Middle School (math 42% / reading 52%, grade D+, #315 of 729 statewide, top 45%, 1,058 students, 37% FRL); Newfield High School (math 77% / reading 77%, grade A-, #583 of 1,100 statewide, top 56%, 1,559 students, 35% FRL) — zoned schools average 38% FRL vs 22% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 119 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 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 — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.9% vs local median 4.4% in Selden — 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.

Questions for listing agent

• Built in 1972 — 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.
• 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.