111 S Country Rd

Remsenburg-Speonk, NY 11960

$1,800,000C

4 bd · 3.0 ba · 1,928 sqft · Built 1960 · SingleFamily · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $18,559/mo
• Mortgage (P&I): −$9,439
• Tax + insurance: −$1,772
• HOA: −$0
• Vac / Maint / Mgmt: −$3,897
• Net cashflow: $3,451/mo
• Annual: $41,410/yr
• Cap rate: 8.88%
• Cash-on-cash: 9.23%
• DSCR: 1.41
• 1% rule: 1.03%
• Cash to close: $504,000

Investor read

• This is a 4-bed/3.0-bath single-family listed at $1.80M.
• At list price, monthly cash flow is $3k ($41k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($19k rent vs $1.80M).
• It's been on market 39 days — a 3% lower offer ($1.75M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.75M (3.0% below list) — sets the bar for market timing.
• In year one you build about $153k of equity ($12k loan paydown + $141k appreciation (7.8% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Remsenburg-Speonk Union Free School District (suburban): math 60% / reading 40% proficiency, ranked #389 of 755 in NY (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Remsenburg-Speonk Elementary School (math 52% / reading 62%, grade C+, #842 of 2,108 statewide, top 43%, 122 students, 36% FRL) — zoned schools average 36% FRL vs 10% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 41 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 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.
• Current owner paid $695k; list at $1.80M implies a 159% gain — meaningful room to come down on a strong offer.
• At projected returns (7.8% appreciation + 3.0% rent growth), your $504k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$245k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.9% vs local median 6.1% in Remsenburg-Speonk — 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.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.