3 Mooring Dr

Brookhaven, NY 11713

$1,995,000C-

4 bd · 3.5 ba · 3,266 sqft · Built 1975 · SingleFamily · Active · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $18,851/mo
• Mortgage (P&I): −$10,462
• Tax + insurance: −$1,450
• HOA: −$0
• Vac / Maint / Mgmt: −$3,959
• Net cashflow: $2,980/mo
• Annual: $35,766/yr
• Cap rate: 8.09%
• Cash-on-cash: 6.40%
• DSCR: 1.28
• 1% rule: 0.94%
• Cash to close: $558,600

Investor read

• This is a 4-bed/3.5-bath single-family listed at $2.00M.
• At list price, monthly cash flow is $3k ($36k/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 $1.89M (5.5% below list).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $1.89M (5.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $14k of loan paydown is wiped out by about $60k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#681 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing B+; Watch: amenities F, commute F, cost of living F.
• South Country Central School District (suburban): math 50% / reading 44% proficiency, ranked #460 of 755 in NY (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Brookhaven Elementary School (506 students, 41% FRL); Bellport Middle School (math 64% / reading 54%, grade B, #161 of 729 statewide, top 24%, 838 students, 56% FRL); Bellport Senior High School (math 86% / reading 64%, grade A-, #630 of 1,100 statewide, top 57%, 1,392 students, 52% FRL).
• Zoned-school proficiency averages 67% at this address vs 47% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the South Country Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 57 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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.
• 3 sale attempts since 2y 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 $940k; list at $2.00M implies a 112% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1975 — 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.