386 Mill Rd · Westhampton, NY 11977

$1,175,000

3 bd · 3.0 ba · 1,970 sqft · SingleFamily public records · 100 Days on market

Built 1968 0.31 ac lot $596/sqft · 29% below area Est $1725k · 32% under

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Why this score? — see what drove the A 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.4/10.0
• Schools +6.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This beautiful ranch is set on .33 of an acre South-of-the-Highway in the heart of Westhampton - only 1 mile to all that downtown WHB has to offer and 2 miles to amazing ocean beaches. The home features 3 bedrooms, 2.5 updated bathrooms, kitchen w/granite counters, 3 season front porch, and spacious den w/fireplace. Other amenities include new central air conditioning, 2 car garage and full unfinished basement. The mature landscaped yard features a large patio for outdoor entertaining and room for pool. Don't miss this opportunity to own in the center of all that makes Westhampton Beach the premier Hamptons location. Perfect for year-round living or as an amazing seasonal retreat.

Key facts

• 3 season front porch
• Large patio
• Spacious den

Tags

• GRANITE COUNTERS
• 3 SEASON FRONT PORCH
• SPACIOUS DEN
• NEW CENTRAL AIR CONDITIONING
• MATURE LANDSCAPED YARD
• LARGE PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $1.18M.

Deal economics

• At list price, monthly cash flow is $8k ($96k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($19k rent vs $1.18M).
• Recommended offer: $1.07M (9.0% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 9.1% in Westhampton — 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 60/100 on livability (#969 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing C-, schools D+, amenities F.
• Westhampton Beach Union Free School District (suburban): math 72% / reading 75% proficiency, ranked #81 of 590 in NY (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 63 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 $18,946/mo this rent would consume 150% of the median local household income ($151k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $112k of equity ($8k loan paydown + $104k appreciation (8.8% local appreciation)).
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (8.8% appreciation + 3.0% rent growth), your $329k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$179k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($1.07M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $70k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $470k; list at $1.18M implies a 150% gain — meaningful room to come down on a strong offer.

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 $1,069,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.61% ✓
• Cap rate: 14.43%
• Cash-on-cash: 29.07%
• DSCR: 2.29
• GRM: 5.2

CMA / ARV

• ARV (median comp): $1,725,047
• List price: $1,175,000
• Delta: -31.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
81 Lakeside Ln	0.63mi	4/3.0 (+1)	2,027 (+3%)	11mo	$1,455,000	$718	52
4 Evelyn Ct	0.61mi	4/5.5 (+1)	2,000 (+2%)	3mo	$1,775,000	$888	51
57 Hazelwood Ave	0.63mi	4/3.0 (+1)	1,768 (-10%)	3mo	$840,000	$475	46
15 Baycrest Ave	0.29mi	4/2.0 (+1)	1,800 (-9%)	22mo	$1,050,000	$583	45
147 Oneck Ln	0.51mi	4/3.0 (+1)	2,160 (+10%)	13mo	$2,255,000	$1,044	44

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

Projected returns pro-forma

8.82% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.5%
• Equity multiple: 4.20×
• Total profit: $1,054,056
• Equity at exit: $959,477

10-year hold

• IRR: 39.3%
• Equity multiple: 9.16×
• Total profit: $2,686,148
• Equity at exit: $1,972,056

Cash invested: $329,000 (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 11977

• Home prices YoY: 2.3%
• Active inventory: 63
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $18,946 medium
• Mortgage (P&I): −$6,162
• Tax from tax record: −$346 /mo · $4,148/yr
• Insurance: −$490
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,979
• Net cashflow: $7,970

Break-even live

Break-even rent $8,857

Max offer price $1,175,000

Occupancy floor 53%

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: $293,750
• Closing costs: $35,250
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38 Liberty St Westhampton Beach, NY	4.0	2.5	2565	$35,000	$13.65	43d	1	0.36mi
31 Liberty St Westhampton Beach, NY	3.0	1.5	2000	$40,000	$20.00	43d	1	0.37mi
35 Maple St Westhampton Beach, NY	3.0	2.5	1696	$28,000	$16.51	43d	1	0.37mi
34 Montauk Hwy #12 Westhampton, NY	2.0	3.0	1773	$18,000	$10.15	24d	1	0.39mi
243 Sunset Ave Westhampton Beach, NY	4.0	2.0	1566	$28,000	$17.88	3d	1	0.50mi
19 Bishop Ave Westhampton, NY	3.0	2.0	1514	$15,000	$9.91	18d	1	0.50mi
4 Morris Ct Westhampton Beach, NY	4.0	3.5	1504	$30,000	$19.95	24d	1	0.63mi
18 Lakeside Ln Westhampton, NY	4.0	2.5	2422	$25,000	$10.32	43d	1	0.64mi
99 Beach Rd Westhampton Beach, NY	4.0	2.5	2600	$20,000	$7.69	5d	1	0.66mi
64 Aspatuck Rd Westhampton Beach, NY	4.0	3.0	2157	$10,000	$4.64	43d	1	0.81mi
60 Aspatuck Rd Westhampton Beach, NY	4.0	3.0	2150	$10,000	$4.65	43d	1	0.82mi
188 Main St Westhampton Beach, NY	2.0	2.5	1400	$5,000	$3.57	21d	1	0.98mi
44 Griffing Ave Westhampton Beach, NY	4.0	4.5	1825	$12,000	$6.58	18d	1	0.99mi
3013 Mitchell Rd Westhampton Beach, NY	2.0	3.5	1500	$20,000	$13.33	24d	1	1.05mi
3041 Mitchell Rd Westhampton Beach, NY	2.0	3.0	1550	$15,000	$9.68	43d	1	1.11mi
3047 Mitchell Rd Westhampton Beach, NY	2.0	2.5	1500	$65,000	$43.33	24d	1	1.12mi
70 Tanners Neck Ln Westhampton, NY	4.0	3.5	2100	$20,000	$9.52	43d	1	1.14mi
22 Meadow Ln Westhampton Beach, NY	4.0	4.0	2500	$70,000	$28.00	24d	1	1.16mi
9 Ocame Ave Westhampton Beach, NY	4.0	3.0	1823	$20,000	$10.97	43d	1	1.23mi
25 N Quarter Rd Westhampton, NY	4.0	3.0	2000	$30,000	$15.00	16d	1	1.29mi

Listing history 29 events

1. 2026-06-15
   status $1,175,000 Pending 100 DOM
2. 2026-06-15
   days on market $1,175,000 Active 100 DOM
3. 2026-06-13
   days on market $1,175,000 Active 98 DOM
4. 2026-06-09
   days on market $1,175,000 Active 94 DOM
5. 2026-06-08
   days on market $1,175,000 Active 93 DOM
6. 2026-06-07
   days on market $1,175,000 Active 92 DOM
7. 2026-06-04
   days on market $1,175,000 Active 89 DOM
8. 2026-06-03
   days on market $1,175,000 Active 88 DOM
9. 2026-06-02
   days on market $1,175,000 Active 87 DOM
10. 2026-06-01
    days on market $1,175,000 Active 86 DOM
11. 2026-05-31
    days on market $1,175,000 Active 85 DOM
12. 2026-04-21
    price $1,175,000 694-char remark

    Show marketing remark (694 chars)

    This beautiful ranch is set on .33 of an acre South-of-the-Highway in the heart of Westhampton - only 1 mile to all that downtown WHB has to offer and 2 miles to amazing ocean beaches. The home features 3 bedrooms, 2.5 updated bathrooms, kitchen w/granite counters, 3 season front porch, and spacious den w/fireplace. Other amenities include new central air conditioning, 2 car garage and full unfinished basement. The mature landscaped yard features a large patio for outdoor entertaining and room for pool. Don't miss this opportunity to own in the center of all that makes Westhampton Beach the premier Hamptons location. Perfect for year-round living or as an amazing seasonal retreat.

13. 2026-03-01
    listed $1,245,000 Active 694-char remark

    Show marketing remark (694 chars)

    This beautiful ranch is set on .33 of an acre South-of-the-Highway in the heart of Westhampton - only 1 mile to all that downtown WHB has to offer and 2 miles to amazing ocean beaches. The home features 3 bedrooms, 2.5 updated bathrooms, kitchen w/granite counters, 3 season front porch, and spacious den w/fireplace. Other amenities include new central air conditioning, 2 car garage and full unfinished basement. The mature landscaped yard features a large patio for outdoor entertaining and room for pool. Don't miss this opportunity to own in the center of all that makes Westhampton Beach the premier Hamptons location. Perfect for year-round living or as an amazing seasonal retreat.

14. 2026-03-01
    historical

    Show marketing remark (694 chars)

    This beautiful ranch is set on .33 of an acre South-of-the-Highway in the heart of Westhampton - only 1 mile to all that downtown WHB has to offer and 2 miles to amazing ocean beaches. The home features 3 bedrooms, 2.5 updated bathrooms, kitchen w/granite counters, 3 season front porch, and spacious den w/fireplace. Other amenities include new central air conditioning, 2 car garage and full unfinished basement. The mature landscaped yard features a large patio for outdoor entertaining and room for pool. Don't miss this opportunity to own in the center of all that makes Westhampton Beach the premier Hamptons location. Perfect for year-round living or as an amazing seasonal retreat.

15. 2026-02-20
    status Active
16. 2026-02-20
    historical
17. 2026-02-05
    price $1,324,999
18. 2026-01-22
    price $1,399,999
19. 2025-12-20
    price $1,449,999
20. 2025-08-19
    listed $1,474,999 Active
21. 2017-05-01
    soldstatus $470,000
22. 2017-04-17
    soldstatus $470,000 Closed
23. 2016-12-17
    historical
24. 2016-11-20
    price $499,000
25. 2016-09-25
    price $525,000
26. 2016-06-18
    listed $549,000 New
27. 2014-11-03
    historical
28. 2014-05-03
    listed $599,000
29. 1998-01-13
    soldstatus $165,000

ⓘ 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: $4,148 · $346/mo
• Projected year-2 tax: $12,003 · $1,000/mo
• Expected delta: +$7,855/yr (+$655/mo · 189.4%)

ⓘ 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 (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 2/10 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 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $227,353
• − Mortgage interest: −$65,818
• − Property taxes: −$4,148
• − Insurance: −$5,875
• − Repairs & maintenance: −$18,188
• − Management: −$18,188
• − Depreciation: −$34,182
• Taxable income: $80,954
• Est. tax owed @ 24.0%: −$19,429
• After-tax cash flow: $76,215/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: Westhampton Beach Union Free School District
• NCES district ID: 3631020
• Math proficiency: 72% ▼ -5.00%
• Reading proficiency: 75% ▲ 3.00%
• Median HH income: $88,137
• Composite: 65.91/100
• National rank: #444
• State rank: #81 of 590 in NY

Livability — Westhampton

• Score: 60/100
• State rank: #969
• US rank: #18972

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westhampton, NY
• County: Suffolk County · 679,920 people
• City population: 2,843
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 2,843
• Household income: $151,375
• Rent vs Own: 6.0% rent · 94.0% own
• Severe rent burden: 14.0

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 5% Asian 3% Two or more races 2%
• Common ancestry: Scotch-Irish 3% Romanian 3% Subsaharan African 1%
• Foreign-born: 11% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 4% Korean 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: ▲ 8.82%
• Current HPI: 391.8868
• Rent YoY: —
• 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

+612.1% since first listed

18 events — show timeline

• 2026-04-21 Price Changed $1,175,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-03-01 Listed $1,245,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-20 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-02-20 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-02-05 Price Changed $1,324,999 OneKey® MLS as Distributed by MLS Grid
• 2026-01-22 Price Changed $1,399,999 OneKey® MLS as Distributed by MLS Grid
• 2025-12-20 Price Changed $1,449,999 OneKey® MLS as Distributed by MLS Grid
• 2025-08-19 Listed $1,474,999 OneKey® MLS as Distributed by MLS Grid
• 2017-05-01 Sold (Public Records) $470,000 Public Records
• 2017-04-17 Sold (MLS) $470,000 OneKey® MLS as Distributed by MLS Grid
• 2016-12-17 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-11-20 Price Changed $499,000 OneKey® MLS as Distributed by MLS Grid
• 2016-09-25 Price Changed $525,000 OneKey® MLS as Distributed by MLS Grid
• 2016-06-18 Listed $549,000 OneKey® MLS as Distributed by MLS Grid
• 2014-11-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-05-03 Listed $599,000 OneKey® MLS as Distributed by MLS Grid
• 1998-01-13 Sold (Public Records) $165,000 Public Records

Property tax history

+0.3%/yr

Latest (2024): $4,148 · +0.0% YoY. Source: county tax records.