358 S Service Rd · Center Moriches, NY 11934

$290,000

3 bd · 1.0 ba · 1,100 sqft · SingleFamily public records · 12 Days on market

Built 1977 0.50 ac lot ↓ 5% since listing

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Why this score? — see what drove the B- 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 +26.2/30.0
• DSCR +8.9/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-bedroom, 1-bathroom ranch nestled on a spacious half-acre lot, offering approximately 1,100 square feet of single-level living. Built in 1977, this home boasts solid bones and endless potential for customization or renovation. Whether you’re looking to create your dream home or invest in a promising property, this is an ideal opportunity. Sold as-is, this home is ready for your vision—don’t miss out on this chance to own a piece of property with great upside potential.

Key facts

• 0.5 acre lot
• Built 1977
• Listed 12 days

Property features AI

Exterior

• Parking: Driveway
• Utilities: Cesspool sewer; Electricity available
• Home design: Single family residence
• Construction: Shingle siding construction
• Exterior features: Shingle siding; Not waterfront

Interior

• Kitchen: No appliances listed
• Bedrooms: Bedroom on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: No cooling; Heating: other
• Interior features: First-floor bedroom; Basement (see remarks); Attic (see remarks); 5 total rooms
• Laundry & utility: No washer/dryer specified

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $739 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $290k).
• Cap rate 9.3% vs local median 1.9% in Center Moriches — 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 66/100 on livability (#641 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, commute F, cost of living F.
• Center Moriches Union Free School District (suburban): math 65% / reading 55% proficiency, ranked #188 of 590 in NY (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Clayton Huey Elementary School (math 42% / reading 52%, grade D-, #1,195 of 2,108 statewide, top 60%, 598 students, 28% FRL); Center Moriches Middle School (math 57% / reading 52%, grade B-, #214 of 729 statewide, top 31%, 325 students, 29% FRL); Center Moriches High School (math 92% / reading 64%, grade A-, #568 of 1,100 statewide, top 52%, 556 students, 25% FRL).
• Market conditions: 64 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 + 3.0% rent growth), your $81k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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

• Watch-outs: property tax is 3.1% of price.
• 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 $290,000

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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.
6. 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.
7. 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: 1.37% ✓
• Cap rate: 9.35%
• Cash-on-cash: 10.92%
• DSCR: 1.49
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $671,000
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14 Wiltshire Ct	0.60mi	3/1.0	1,073 (-2%)	2mo	$655,000	$610	66
225 Chichester Ave	0.58mi	3/1.0	1,150 (+4%)	5mo	$440,000	$383	61
347 Wading River Rd	0.58mi	3/2.0	1,024 (-7%)	2mo	$635,000	$620	56
3 Williams St	0.68mi	3/3.0	1,200 (+9%)	8mo	$665,000	$554	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $353
• Equity at exit: $43,240

10-year hold

• IRR: 9.9%
• Equity multiple: 1.76×
• Total profit: $62,115
• Equity at exit: $25,074

Cash invested: $81,200 (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 11934

• Home prices YoY: -21.5%
• Active inventory: 64
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $3,974 high
• Mortgage (P&I): −$1,521
• Tax from tax record: −$759 /mo · $9,114/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$835
• Net cashflow: $739

Break-even live

Break-even rent $3,039

Max offer price $290,000

Occupancy floor 76%

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 Jerusalem Hollow Rd Manorville, NY	2.0–3.0	2.0–2.5	1485	$4,757	$3.20	1d	10	0.52mi
87 Acorn Cir Moriches, NY	2.0	2.0–2.5	1487	$4,006	$2.69	1d	8	0.53mi
20 Mirror Ln Moriches, NY	2.0	2.0–2.5	1195	$3,590	$3.00	1d	3	0.72mi
1b Meadowoods Ln Moriches, NY	1.0–2.0	1.0–2.0	896	$3,122	$3.48	1d	56	1.03mi
310 A Frowein Rd Brookhaven, NY	3.0	1.0	981	$4,000	$4.08	1d	1	1.31mi

Listing history 8 events

1. 2026-06-02
   status $290,000 Pending 12 DOM
2. 2026-06-01
   days on market $290,000 Active 12 DOM
3. 2026-05-31
   days on market $290,000 Active 11 DOM
4. 2026-05-20
   listed $290,000 Active
5. 2025-12-07
   historical
6. 2025-12-06
   status Active
7. 2025-07-31
   status Pending
8. 2025-07-08
   listed $305,000 Active

ⓘ 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: $9,114 · $759/mo
• Projected year-2 tax: $9,114 · $759/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,692
• − Mortgage interest: −$16,245
• − Property taxes: −$9,114
• − Insurance: −$1,450
• − Repairs & maintenance: −$3,815
• − Management: −$3,815
• − Depreciation: −$8,436
• Taxable income: $4,816
• Est. tax owed @ 24.0%: −$1,156
• After-tax cash flow: $7,707/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: Center Moriches Union Free School District
• NCES district ID: 3606840
• Math proficiency: 65% ▼ -9.00%
• Reading proficiency: 55% ▼ -6.00%
• Median HH income: $86,698
• Composite: 54.64/100
• National rank: #1332
• State rank: #188 of 590 in NY

Livability — Center Moriches

• Score: 66/100
• State rank: #641
• US rank: #11936

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Center Moriches, NY
• City population: 8,222
• Population (ZIP): 8,222

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 14% Two or more races 3% Black 2% Asian 2%
• Common ancestry: Italian 6% Romanian 6% Scotch-Irish 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 2% Chinese 1%

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: ▼ -95.89%
• Current HPI: 350.6186
• Rent YoY: —
• Metro: —
• 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

-4.9% since first listed

5 events — show timeline

• 2026-05-20 Listed $290,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-12-06 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-07-31 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-07-08 Listed $305,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+1.1%/yr

Latest (2025): $9,114 · +0.0% YoY. Source: county tax records.