32 Cooper St · Southampton, NY 11968

$3,250,000

3 bd · 2.0 ba · 2,237 sqft · Other public records · 113 Days on market

Built 1920 0.33 ac lot

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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
• Rent growth +5.0/5.0
• Cash flow +4.9/30.0
• Schools +4.8/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.7/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Southampton Village Classic with Legal Guest House An exceptional opportunity to own a classic and stylish Southampton Village residence with rare expansion potential. This beautifully maintained four-bedroom main house is complemented by a legal one-bedroom guest house, a detached 2.5-car garage currently configured as a recreation room, and a brand-new heated in-ground pool. The home is wonderful as it stands, yet offers tremendous upside. The property will be sold with architectural plans designed to enhance the layout and optimize the bedroom and bathroom count—creating an ideal floor plan for modern living. Opportunities like this, combining immediate enjoyment with future potential, are increasingly rare in today’s market. Ideally located on a sought-after Village street, just moments from Southampton Village shops, restaurants, and world-class ocean beaches.

Key facts

• Architectural plans
• Legal guest house
• Detached garage

Tags

• LEGAL GUEST HOUSE
• DETACHED GARAGE
• HEATED IN-GROUND POOL
• ARCHITECTURAL PLANS
• SOUGHT-AFTER VILLAGE STREET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $3.25M.

Deal economics

• At list price, monthly cash flow is $-8k ($-93k/yr) — negative.
• To cash-flow at today's rent, offer at most $2.12M (34.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.86M (42.8% below list).
• Recommended offer: $1.86M (42.8% below list) — sets the bar for 1% rule.
• Cap rate 3.4% vs local median 2.8% in Southampton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 69/100 on livability (#472 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: commute D+, amenities F, cost of living F.
• Southampton Union Free School District (suburban): math 53% / reading 51% proficiency, ranked #293 of 590 in NY (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+14.6%/yr); 95 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% 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).
• At $18,574/mo this rent would consume 143% of the median local household income ($156k/yr) (locally 274% 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 $22k of loan paydown is wiped out by about $98k 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 113 days — a 9% lower offer ($2.96M) is reasonable based on typical stale-listing flexibility.
• 2 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 $1.80M; list at $3.25M implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,857,398 (42.8% 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. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 43% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 0.57% ✗
• Cap rate: 3.42%
• Cash-on-cash: -10.27%
• DSCR: 0.54
• GRM: 14.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -29.5%
• Equity multiple: -0.02×
• Total profit: $-924,131
• Equity at exit: $484,586

10-year hold

• IRR: -16.4%
• Equity multiple: -0.09×
• Total profit: $-995,406
• Equity at exit: $281,001

Cash invested: $910,000 (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 11968

• Home prices YoY: -28.6%
• Rents YoY: 14.6%
• Active inventory: 95
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $18,574 medium
• Mortgage (P&I): −$17,043
• Tax est. 1.5%: −$4,062 /mo · $48,750/yr
• Insurance: −$1,354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,901
• Net cashflow: $-7,787

Break-even live

Break-even rent $28,430

Max offer price $2,123,270

Occupancy floor —

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: $812,500
• Closing costs: $97,500
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
138 Coopers Farm Rd Southampton, NY	4.0	5.5	2893	$50,000	$17.28	43d	1	0.14mi
36 Corrigan St Southampton, NY	3.0	3.5	2089	$20,000	$9.57	12d	1	0.54mi
36 Wiltshire St Southampton, NY	4.0	3.5	3000	$92,000	$30.67	24d	1	0.64mi
62 Jennings Ave Southampton, NY	3.0	3.0	2800	$30,000	$10.71	19d	1	0.68mi
669 Hill St Southampton, NY	3.0	2.0	2000	$75,000	$37.50	43d	1	0.86mi
686 Hill St Southampton, NY	4.0	3.5	2280	$65,000	$28.51	43d	1	0.90mi
40 Roman Rd Southampton, NY	3.0	3.0	1912	$6,500	$3.40	43d	1	0.97mi
82 Powell Ave Southampton, NY	4.0	4.0	2414	$70,000	$29.00	24d	1	0.97mi
16 Tuckahoe Ln Southampton, NY	3.0	3.5	2900	$25,000	$8.62	19d	1	1.13mi
39 Huntting St Southampton, NY	4.0	2.5	2441	$30,000	$12.29	43d	1	1.27mi
10 Leland Ln #19 Southampton, NY	3.0	3.0	1400	$30,000	$21.43	43d	1	1.28mi
4 Carriage Ln Southampton, NY	4.0	4.0	3000	$72,000	$24.00	43d	1	1.34mi
3 Meadowgrass Ln Southampton, NY	3.0	2.0	1434	$84,000	$58.58	43d	1	1.46mi
520 Hampton Rd #18 Southampton, NY	3.0	3.5	2250	$99,000	$44.00	43d	1	1.46mi

Listing history 5 events

1. 2026-05-06
   status Pending 889-char remark

   Show marketing remark (889 chars)

   Southampton Village Classic with Legal Guest House An exceptional opportunity to own a classic and stylish Southampton Village residence with rare expansion potential. This beautifully maintained four-bedroom main house is complemented by a legal one-bedroom guest house, a detached 2.5-car garage currently configured as a recreation room, and a brand-new heated in-ground pool. The home is wonderful as it stands, yet offers tremendous upside. The property will be sold with architectural plans designed to enhance the layout and optimize the bedroom and bathroom count—creating an ideal floor plan for modern living. Opportunities like this, combining immediate enjoyment with future potential, are increasingly rare in today’s market. Ideally located on a sought-after Village street, just moments from Southampton Village shops, restaurants, and world-class ocean beaches.

2. 2026-01-13
   listed $3,250,000 Active 889-char remark

   Show marketing remark (889 chars)

   Southampton Village Classic with Legal Guest House An exceptional opportunity to own a classic and stylish Southampton Village residence with rare expansion potential. This beautifully maintained four-bedroom main house is complemented by a legal one-bedroom guest house, a detached 2.5-car garage currently configured as a recreation room, and a brand-new heated in-ground pool. The home is wonderful as it stands, yet offers tremendous upside. The property will be sold with architectural plans designed to enhance the layout and optimize the bedroom and bathroom count—creating an ideal floor plan for modern living. Opportunities like this, combining immediate enjoyment with future potential, are increasingly rare in today’s market. Ideally located on a sought-after Village street, just moments from Southampton Village shops, restaurants, and world-class ocean beaches.

3. 2025-05-01
   historical
4. 2024-10-31
   listed $3,250,000 Active
5. 2021-05-26
   soldstatus $1,800,000

ⓘ 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 4/10 Moderate 7 d/yr ≥90°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $222,888
• − Mortgage interest: −$182,051
• − Property taxes: −$48,750
• − Insurance: −$16,250
• − Repairs & maintenance: −$17,831
• − Management: −$17,831
• − Depreciation: −$94,545
• Taxable loss: −$154,370
• Est. tax savings @ 24.0%: +$37,049
• After-tax cash flow: $-56,390/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: Southampton Union Free School District
• NCES district ID: 3627540
• Math proficiency: 53% ▬ 0.00%
• Reading proficiency: 51% ▲ 4.00%
• Median HH income: $85,977
• Composite: 47.9/100
• National rank: #2213
• State rank: #293 of 590 in NY

Livability — Southampton

• Score: 69/100
• State rank: #472
• US rank: #8333

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southampton, NY
• County: Suffolk County · 679,920 people
• City population: 15,312
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 15,312
• Household income: $156,219
• Rent vs Own: 15.1% rent · 84.9% own
• Severe rent burden: 274.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 13% Two or more races 10% Black 9% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 5% Scotch-Irish 2% Danish 2%
• Foreign-born: 15% · Canada, Jamaica, Vietnam
• Languages at home: 81% English-only · Spanish 11% Other Indo-European 3% German/W. Germanic 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: ▼ -184.86%
• Current HPI: 461.1144
• Rent YoY: ▲ 14.62%
• 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

+80.6% since first listed

5 events — show timeline

• 2026-05-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-13 Listed $3,250,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-10-31 Listed $3,250,000 OneKey® MLS as Distributed by MLS Grid
• 2021-05-26 Sold (Public Records) $1,800,000 Public Records

Property tax history

+3.0%/yr

Latest (2024): $4,639 · -31.7% YoY. Source: county tax records.