68 Foster Ave #4 · Hampton Bays, NY 11946

$599,000

1 bd · 1.5 ba · 980 sqft · Condo · 40 Days on market

Built 2015 Good condition $611/sqft · 36% below area Est $930k · 36% under $786/mo HOA · 13% of rent

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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).

• Cash flow +18.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +5.4/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Appreciation +0.0/10.0

Listing remarks

* * * CAN NOT BE OWNER OCCUPIED. MUST RENT ANNUALLY!!! Discover a sophisticated hands-off investment in the heart of Hampton Bays. Completed in 2023, this designer townhome offers the perfect blend of modern luxury and high-demand waterfront appeal. Situated just one mile from Ponquogue Beach, this property is engineered for the discerning investor looking to capitalize on the Hamptons' year-round rental market. The Property Experience Designed to maximize its prime canal-front location, this unit offers breathtaking sunset views from both floors.

Key facts

• Private deck
• Waterfront townhome
• Scenic canal

Tags

• WATERFRONT TOWNHOME
• NEWER CONSTRUCTION
• SCENIC CANAL
• PRIVATE DECK
• PRIVATE WATERFRONT BALCONY
• GUNITE POOL

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $599k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $575 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $599k).
• Recommended offer: $581k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#551 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety B+; Watch: amenities F, commute F, cost of living F.
• Hampton Bays Union Free School District (suburban): math 45% / reading 44% proficiency, ranked #434 of 590 in NY (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hampton Bays Elementary School (math 32% / reading 52%, grade F, #1,361 of 2,108 statewide, top 67%, 682 students, 55% FRL); Hampton Bays Middle School (math 25% / reading 38%, grade F, #522 of 729 statewide, top 73%, 597 students, 64% FRL); Hampton Bays High School (math 98% / reading 57%, grade A-, #580 of 1,100 statewide, top 53%, 769 students, 53% FRL) — zoned schools average 58% FRL vs 38% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+16.1%/yr); 210 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 38d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 $6,257/mo this rent would consume 56% of the median local household income ($134k/yr) — 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 $4k of loan paydown is wiped out by about $18k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $168k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($581k) is reasonable based on typical stale-listing flexibility.
• 6 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.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $581,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.04% ✓
• Cap rate: 7.44%
• Cash-on-cash: 4.11%
• DSCR: 1.18
• GRM: 8.0

CMA / ARV

• ARV (median comp): $929,683
• List price: $599,000
• Delta: -33.85%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
48 Foster Ave	0.17mi	1/1.0	855 (-13%)	15mo	$740,000	$865	56
39 Foster Ave	0.30mi	2/2.0 (+1)	900 (-8%)	16mo	$700,000	$778	52
68 Foster Ave #12	0.00mi	2/1.5 (+1)	1,125 (+15%)	22mo	$825,000	$733	52
68 Foster Ave #18	0.00mi	2/1.5 (+1)	1,125 (+15%)	23mo	$850,000	$756	51
3 Mineola Ct	1.29mi	2/1.0 (+1)	1,000 (+2%)	9mo	$725,000	$725	47
8 Park Ln	1.08mi	2/2.0 (+1)	1,000 (+2%)	11mo	$685,000	$685	46
47 King St	1.38mi	2/2.0 (+1)	1,012 (+3%)	14mo	$840,000	$830	41
5 Chevy Chase Rd	1.15mi	2/1.0 (+1)	1,025 (+5%)	13mo	$643,500	$628	40
47 Rampasture Rd Apt M	1.09mi	1/1.0	1,100 (+12%)	5mo	$730,000	$664	38
32 Hampton Rd	1.11mi	2/1.0 (+1)	900 (-8%)	10mo	$635,000	$706	36
5 Mineola Ct	1.30mi	2/2.0 (+1)	1,120 (+14%)	12mo	$715,000	$638	24
207 Springville Rd	0.95mi	2/1.0 (+1)	774 (-21%)	15mo	$675,000	$872	20

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -4.1%
• Equity multiple: 0.84×
• Total profit: $-27,165
• Equity at exit: $89,313

10-year hold

• IRR: 10.8%
• Equity multiple: 2.04×
• Total profit: $174,927
• Equity at exit: $51,791

Cash invested: $167,720 (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 11946

• Home prices YoY: -20.3%
• Rents YoY: 16.1%
• Active inventory: 210
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $6,257 medium
• Mortgage (P&I): −$3,141
• Tax from tax record: −$192 /mo · $2,301/yr
• Insurance: −$250
• HOA: −$786
• Vacancy / Maint / Mgmt: −$1,314
• Net cashflow: $575

Break-even live

Break-even rent $5,530

Max offer price $599,000

Occupancy floor 86%

Sensitivity live

Price	-10% $914	-5% $744	+0% $575	+5% $405	+10% $236
Rent	-10% $80	-5% $327	+0% $575	+5% $822	+10% $1,069
Rate	-1.0pp $876	-0.5pp $727	base $575	+0.5pp $419	+1.0pp $261

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: $149,750
• Closing costs: $17,970
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
68 Foster Ave #12 Hampton Bays, NY	2.0	1.5	1125	$18,000	$16.00	37d	1	0.03mi
25 Gardners Ln Unit A Hampton Bays, NY	2.0	1.5	1000	$3,500	$3.50	38d	1	0.32mi
94 Bay Ave E Hampton Bays, NY	2.0	2.0	1000	$20,000	$20.00	64d	1	0.65mi

Property features AI

Finance

• HOA & community: Condo association with monthly fee of $786HOA covers common area maintenance, exterior maintenance, grounds care, pool service, sewer, snow removal and trash

Exterior

• Parking: Assigned parking (1 space)
• Utilities: Electricity connectedNatural gas connectedWater connectedShared septicPrivate trash collection
• Home design: TownhouseCondominiumTwo levelsEntry level is 1
• Construction: Cedar and frame construction
• Exterior features: Cedar and frame constructionWaterfront property

Interior

• Kitchen: CooktopGas rangeDishwasherMicrowaveRefrigerator
• Bedrooms: Two-level layout (bedroom locations not specified)
• Bathrooms: One full bathroomOne half bathroom
• Heating & cooling: Forced air heatingCentral air conditioningGas fireplace
• Interior features: Double vanity in primary bathroomWasher/dryer hookupPets allowed
• Laundry & utility: DryerWasher/dryer hookupTankless water heater

HOA detail $786/mo · $9,432/yr condo

• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $599,000 Active 40 DOM
2. 2026-08-06
   days on market $599,000 Active 38 DOM
3. 2026-08-05
   days on market $599,000 Active 37 DOM
4. 2026-08-04
   days on market $599,000 Active 36 DOM
5. 2026-08-03
   days on market $599,000 Active 35 DOM
6. 2026-07-31
   days on market $599,000 Active 32 DOM
7. 2026-07-30
   days on market $599,000 Active 31 DOM
8. 2026-07-30
   days on market $599,000 Active 30 DOM
9. 2026-07-28
   days on market $599,000 Active 29 DOM
10. 2026-07-26
    days on market $599,000 Active 27 DOM
11. 2026-07-24
    days on market $599,000 Active 25 DOM
12. 2026-07-23
    days on market $599,000 Active 24 DOM
13. 2026-07-22
    days on market $599,000 Active 23 DOM
14. 2026-07-21
    days on market $599,000 Active 22 DOM
15. 2026-07-20
    days on market $599,000 Active 21 DOM
16. 2026-07-18
    days on market $599,000 Active 19 DOM
17. 2026-07-18
    days on market $599,000 Active 18 DOM
18. 2026-07-16
    days on market $599,000 Active 17 DOM
19. 2026-07-15
    days on market $599,000 Active 16 DOM
20. 2026-07-14
    days on market $599,000 Active 15 DOM
21. 2026-07-13
    days on market $599,000 Active 14 DOM
22. 2026-07-13
    days on market $599,000 Active 13 DOM
23. 2026-07-11
    days on market $599,000 Active 12 DOM
24. 2026-07-10
    days on market $599,000 Active 11 DOM
25. 2026-07-09
    days on market $599,000 Active 10 DOM
26. 2026-07-07
    days on market $599,000 Active 8 DOM
27. 2026-07-06
    days on market $599,000 Active 7 DOM
28. 2026-07-06
    days on market $599,000 Active 6 DOM
29. 2026-07-05
    days on market $599,000 Active 5 DOM
30. 2026-07-03
    days on market $599,000 Active 4 DOM
31. 2026-07-02
    days on market $599,000 Active 3 DOM
32. 2026-07-01
    days on market $599,000 Active 2 DOM
33. 2026-06-30
    pricedays on marketlisting id $599,000 Active 1 DOM
34. 2026-06-18
    days on market $615,000 Active 76 DOM
35. 2026-06-17
    days on market $615,000 Active 75 DOM
36. 2026-06-16
    days on market $615,000 Active 74 DOM
37. 2026-06-15
    days on market $615,000 Active 73 DOM
38. 2026-06-13
    days on market $615,000 Active 71 DOM
39. 2026-06-13
    days on market $615,000 Active 70 DOM
40. 2026-06-09
    days on market $615,000 Active 67 DOM
41. 2026-06-08
    days on market $615,000 Active 66 DOM
42. 2026-06-07
    days on market $615,000 Active 65 DOM
43. 2026-06-04
    days on market $615,000 Active 62 DOM
44. 2026-06-03
    days on market $615,000 Active 61 DOM
45. 2026-06-02
    days on market $615,000 Active 60 DOM
46. 2026-06-01
    days on market $615,000 Active 59 DOM
47. 2026-05-31
    days on market $615,000 Active 58 DOM
48. 2026-04-20
    price $615,000 949-char remark
49. 2026-04-01
    listed $649,000 Active 949-char remark
50. 2021-06-07
    soldstatus $17,232,832

ⓘ 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: $2,301 · $192/mo
• Projected year-2 tax: $6,212 · $518/mo
• Expected delta: +$3,911/yr (+$326/mo · 170.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 88% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 8 d/yr ≥90°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $75,085
• − Mortgage interest: −$33,553
• − Property taxes: −$2,301
• − Insurance: −$2,995
• − Repairs & maintenance: −$6,007
• − Management: −$6,007
• − HOA: −$9,432
• − Depreciation: −$17,425
• Taxable loss: −$2,635
• Est. tax savings @ 24.0%: +$632
• After-tax cash flow: $7,527/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.

Condition & rehab AI · 9 photos

Good 80/100 None rehab

This modern townhouse in Hampton Bays is in excellent condition with a good condition score of 80. It offers a prime canal-front location and is ready for immediate rental or resale.

Components & finishes AI

Flooring hardwood Counters solid surface

Value-add opportunities

• Both Landscaping and pathway maintenance — Enhances curb appeal and maintains the property's aesthetic. ↑
• Both Regular cleaning and maintenance of the deck and railings — Keeps the waterfront view area attractive and functional. ↑
• Rental Annual inspection and maintenance of the HVAC system — Ensures the system is functioning properly and energy-efficient, which is important for rental properties. ↑

D Composite school gradezoned avg 50/100

Zoned Schools

Elementary Hampton Bays Elementary School F NY #1,361/2,108 Nat'l #17,861/41,679 Middle Hampton Bays Middle School F NY #522/729 Nat'l #8,497/14,009 High Hampton Bays High School A- NY #580/1,100 Nat'l #1,359/17,239

Schools (NCES district)

• District: Hampton Bays Union Free School District
• NCES district ID: 3613530
• Math proficiency: 45% ▼ -8.00%
• Reading proficiency: 44% ▼ -1.00%
• Median HH income: $70,274
• Composite: 40.18/100
• National rank: #3788
• State rank: #434 of 590 in NY

C Composite livability gradescore 68/100

Livability — Hampton Bays

• Score: 68/100
• State rank: #551
• US rank: #9894

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hampton Bays, NY
• County: Suffolk County · 1,505,262 people
• City population: 15,819
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 15,819
• Household income: $133,918
• Rent vs Own: 18.1% rent · 81.9% own
• Severe rent burden: 7% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Hispanic / Latino 32% Two or more races 13% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 4% Slovak 2% Portuguese 2%
• Foreign-born: 26% · Canada, Jamaica, Guatemala
• Languages at home: 64% English-only · Spanish 29% Other Indo-European 2% French/Haitian/Cajun 2%

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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: ▼ -118.82%
• Current HPI: 467.2466
• Rent YoY: ▲ 16.07%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

Property features AI

Finance

• HOA & community: Condo association with monthly fee of $786HOA covers common area maintenance, exterior maintenance, grounds care, pool service, sewer, snow removal and trash

Exterior

• Parking: Assigned parking (1 space)
• Utilities: Electricity connectedNatural gas connectedWater connectedShared septicPrivate trash collection
• Home design: TownhouseCondominiumTwo levelsEntry level is 1
• Construction: Cedar and frame construction
• Exterior features: Cedar and frame constructionWaterfront property

Interior

• Kitchen: CooktopGas rangeDishwasherMicrowaveRefrigerator
• Bedrooms: Two-level layout (bedroom locations not specified)
• Bathrooms: One full bathroomOne half bathroom
• Heating & cooling: Forced air heatingCentral air conditioningGas fireplace
• Interior features: Double vanity in primary bathroomWasher/dryer hookupPets allowed
• Laundry & utility: DryerWasher/dryer hookupTankless water heater

Price history

-72.3% since first listed

17 events — show timeline

• 2026-06-28 Listed $599,000 OneKey® MLS as Distributed by MLS Grid
• 2026-06-19 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-04-20 Price Changed $615,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-01 Listed $649,000 OneKey® MLS as Distributed by MLS Grid
• 2021-06-07 Sold (Public Records) $17,232,832 Public Records
• 2018-01-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-04-14 Listed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2017-01-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-04-20 Listed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2016-04-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-12-17 Price Changed $795,000 OneKey® MLS as Distributed by MLS Grid
• 2015-10-26 Listed $825,000 OneKey® MLS as Distributed by MLS Grid
• 2015-04-25 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-08-09 Listed $750,000 OneKey® MLS as Distributed by MLS Grid
• 2014-04-22 Sold (Public Records) $4,100,000 Public Records
• 2013-10-22 Sold (Public Records) $2,000,000 Public Records
• 2013-07-03 Sold (Public Records) $2,160,000 Public Records

Property tax history

+17.0%/yr

Latest (2022): $2,301 · +0.0% YoY. Source: county tax records.