2449 (B) #16 A Union Blvd Unit 16A · Islip, NY 11751

$244,000

1 bd · 1.0 ba · 812 sqft · Condo · 266 Days on market

Built 1970 Good condition $300/sqft · 13% below area Est $280k · 13% under ↓ 11% since listing

---

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 +29.6/30.0
• ARV discount +13.2/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Schools +5.5/10.0
• Livability +4.2/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully updated, main level, deluxe size co-op featuring an open concept layout that's perfect for today's lifestyle. The bright and airy living space flows seamlessly into the dining area and living room, creating the ideal setting for both entertaining and everyday comfort. This desirable community offers fantastic amenities' including a sparkling pool, clubhouse, and a small fitness room - giving you a resort-style living right at home. Conveniently located near shopping, dining and transportation, this Islip gem combines comfort, style and convenience. Close proximity to the clubhouse, pool, and parking.

Key facts

• Clubhouse
• Small fitness room
• Open concept layout

Tags

• OPEN CONCEPT LAYOUT
• BRIGHT AND AIRY LIVING SPACE
• CLUBHOUSE
• SMALL FITNESS ROOM

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $244k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $880 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $244k).
• Recommended offer: $215k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 3.2% in Islip — 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 83/100 on livability (#59 in NY, #878 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• Islip Union Free School District (suburban): math 52% / reading 67% proficiency, ranked #186 of 590 in NY (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 87 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $7k 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 $68k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 266 days — a 12% lower offer ($215k) is reasonable based on typical stale-listing flexibility.

Recommended offer $214,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 266 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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. 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?
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 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: 1.33% ✓
• Cap rate: 10.62%
• Cash-on-cash: 15.46%
• DSCR: 1.69
• GRM: 6.3

CMA / ARV

• ARV (median comp): $279,727
• List price: $244,000
• Delta: -12.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 6.2%
• Equity multiple: 1.24×
• Total profit: $16,567
• Equity at exit: $36,381

10-year hold

• IRR: 15.6%
• Equity multiple: 2.27×
• Total profit: $86,807
• Equity at exit: $21,097

Cash invested: $68,320 (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 11751

• Active inventory: 87
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $3,249 high
• Mortgage (P&I): −$1,280
• Tax est. 1.5%: −$305 /mo · $3,660/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$682
• Net cashflow: $880

Break-even live

Break-even rent $2,134

Max offer price $244,000

Occupancy floor 68%

Sensitivity live

Price	-10% $1,049	-5% $964	+0% $880	+5% $796	+10% $712
Rent	-10% $624	-5% $752	+0% $880	+5% $1,008	+10% $1,137
Rate	-1.0pp $1,003	-0.5pp $942	base $880	+0.5pp $817	+1.0pp $753

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: $61,000
• Closing costs: $7,320
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
584 Main St Unit 5 Islip, NY	2.0	2.0	995	$3,900	$3.92	44d	1	0.28mi
584 Main St Unit 1 Islip, NY	1.0	1.0	620	$3,150	$5.08	2d	1	0.28mi
405 E Main St Bay Shore, NY	2.0	1.0–2.0	750	$2,485	$3.31	44d	1	1.11mi
700 Justine Ct Bay Shore, NY	1.0	1.0	625	$2,195	$3.51	21d	5	1.29mi
35 Penataquit Ave Bay Shore, NY	2.0	1.0–1.5	637	$2,605	$4.09	2d	14	1.30mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-17
   status $244,000 Pending 266 DOM
2. 2026-06-17
   days on market $244,000 Active 266 DOM
3. 2026-06-16
   days on market $244,000 Active 265 DOM
4. 2026-06-15
   days on market $244,000 Active 264 DOM
5. 2026-06-13
   days on market $244,000 Active 262 DOM
6. 2026-06-09
   days on market $244,000 Active 258 DOM
7. 2026-06-08
   days on market $244,000 Active 257 DOM
8. 2026-06-07
   days on market $244,000 Active 256 DOM
9. 2026-06-04
   days on market $244,000 Active 253 DOM
10. 2026-06-03
    days on market $244,000 Active 252 DOM
11. 2026-06-02
    days on market $244,000 Active 251 DOM
12. 2026-06-01
    days on market $244,000 Active 250 DOM
13. 2026-05-31
    days on market $244,000 Active 249 DOM
14. 2026-04-21
    price $244,000 639-char remark

    Show marketing remark (639 chars)

    Welcome to this beautifully updated, main level, deluxe size co-op featuring an open concept layout that's perfect for today's lifestyle. The bright and airy living space flows seamlessly into the dining area and living room, creating the ideal setting for both entertaining and everyday comfort. This desirable community offers fantastic amenities' including a sparkling pool, clubhouse, and a small fitness room - giving you a resort-style living right at home. Conveniently located near shopping, dining and transportation, this Islip gem combines comfort, style and convenience. Close proximity to the clubhouse, pool, and parking.

15. 2025-09-29
    price $249,000 639-char remark

    Show marketing remark (639 chars)

    Welcome to this beautifully updated, main level, deluxe size co-op featuring an open concept layout that's perfect for today's lifestyle. The bright and airy living space flows seamlessly into the dining area and living room, creating the ideal setting for both entertaining and everyday comfort. This desirable community offers fantastic amenities' including a sparkling pool, clubhouse, and a small fitness room - giving you a resort-style living right at home. Conveniently located near shopping, dining and transportation, this Islip gem combines comfort, style and convenience. Close proximity to the clubhouse, pool, and parking.

16. 2025-09-23
    listed $275,000 Active 639-char remark

    Show marketing remark (639 chars)

    Welcome to this beautifully updated, main level, deluxe size co-op featuring an open concept layout that's perfect for today's lifestyle. The bright and airy living space flows seamlessly into the dining area and living room, creating the ideal setting for both entertaining and everyday comfort. This desirable community offers fantastic amenities' including a sparkling pool, clubhouse, and a small fitness room - giving you a resort-style living right at home. Conveniently located near shopping, dining and transportation, this Islip gem combines comfort, style and convenience. Close proximity to the clubhouse, pool, and parking.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $38,983
• − Mortgage interest: −$13,668
• − Property taxes: −$3,660
• − Insurance: −$1,220
• − Repairs & maintenance: −$3,119
• − Management: −$3,119
• − Depreciation: −$7,098
• Taxable income: $7,100
• Est. tax owed @ 24.0%: −$1,704
• After-tax cash flow: $8,858/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 · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained, updated condo in Forest Green offers a bright and open-concept living space with modern amenities and a desirable location.

Value-add opportunities

• Both Paint the exterior brick facade — Fresh paint can enhance curb appeal and property value
• Both Replace the window treatments — New window treatments can improve the home's aesthetic and energy efficiency
• Both Install a smart thermostat — A smart thermostat can improve energy efficiency and comfort
• Both Upgrade the kitchen appliances — Modern appliances can increase the home's appeal and value
• Both Add a smart home security system — A smart home security system can increase safety and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior brick facade — Fresh paint can enhance curb appeal and property value ↑
• Both Replace the window treatments — New window treatments can improve the home's aesthetic and energy efficiency ↑
• Both Install a smart thermostat — A smart thermostat can improve energy efficiency and comfort ↑
• Both Upgrade the kitchen appliances — Modern appliances can increase the home's appeal and value ↑
• Both Add a smart home security system — A smart home security system can increase safety and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Islip Union Free School District
• NCES district ID: 3615540
• Math proficiency: 52% ▼ -7.00%
• Reading proficiency: 67% ▲ 10.00%
• Median HH income: $92,825
• Composite: 54.7/100
• National rank: #1325
• State rank: #186 of 590 in NY

Livability — Islip

• Score: 83/100
• State rank: #59
• US rank: #878

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Islip, NY
• City population: 13,152
• Population (ZIP): 13,152

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 15% Two or more races 9% Asian 5% Black 3%
• Hispanic origin (detail): Puerto Rican 7%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 8% · Canada, China, Jamaica
• Languages at home: 89% English-only · Spanish 6% 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: ▼ -368.19%
• Current HPI: 288.0267
• 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

-11.3% since first listed

3 events — show timeline

• 2026-04-21 Price Changed $244,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-29 Price Changed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-23 Listed $275,000 OneKey® MLS as Distributed by MLS Grid