199 Ridge Rd · Wheatley Heights, NY 11798

$499,900

5 bd · 2.0 ba · 1,612 sqft · SingleFamily public records · 5 Days on market

Built 1962 0.38 ac lot $310/sqft · 30% below area Est $710k · 30% under

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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 +15.3/30.0
• ARV discount +15.0/15.0
• Schools +7.2/10.0
• 1% rule +5.0/10.0
• DSCR +4.7/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investors Paradise!! This home needs total renovation and is CASH ONLY! Nice square footage in a lovely development near Route 110 and all parkways and shopping. Larger lot for the development. Half Hollow Hills School District!

Key facts

• Total renovation
• Larger lot
• 0.38 acre lot

Tags

• TOTAL RENOVATION
• LARGER LOT

Property features AI

Exterior

• Parking: Driveway; Garage (1 car)
• Utilities: Cesspool sewer; Electricity connected
• Home design: Single family residence
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Bedrooms: Total of 9 rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Oil heating; No central cooling
• Interior features: Formal dining room; Additional finished space (other)
• Laundry & utility: Oil water heater

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $500k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $500k).

Location & tenants

• Location reads 75/100 on livability (#275 in NY, #4,351 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: amenities F, cost of living F, health & safety D-.
• Half Hollow Hills Central School District (suburban): math 79% / reading 75% proficiency, ranked #41 of 590 in NY (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: Sunquam Elementary School (math 66% / reading 67%, grade B+, #575 of 2,108 statewide, top 27%, 503 students, 18% FRL); West Hollow Middle School (math 71% / reading 69%, grade A, #86 of 729 statewide, top 12%, 969 students, 22% FRL); Half Hollow Hills High School West (math 100% / reading 98%, grade A+, #7 of 1,100 statewide, top 1%, 1,055 students, 25% FRL).
• Market conditions: 82 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $3k of loan paydown is wiped out by about $15k 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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; major wind risk, 58% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $499,900

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.00% ✓
• Cap rate: 6.74%
• Cash-on-cash: 1.60%
• DSCR: 1.07
• GRM: 8.3

CMA / ARV

• ARV (median comp): $709,858
• List price: $499,900
• Delta: -29.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
95 S 27th St	0.72mi	5/2.0	1,500 (-7%)	1mo	$685,000	$457	54
146 N 25th St	0.52mi	5/3.0	1,584 (-2%)	23mo	$570,000	$360	50
75 S 32nd St	0.74mi	5/1.0	1,380 (-14%)	9mo	$565,000	$409	30

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: -13.7%
• Equity multiple: 0.51×
• Total profit: $-68,856
• Equity at exit: $74,537

10-year hold

• IRR: -4.7%
• Equity multiple: 0.69×
• Total profit: $-43,580
• Equity at exit: $43,222

Cash invested: $139,972 (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 11798

• Active inventory: 82
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $4,999 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$933 /mo · $11,193/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,050
• Net cashflow: $187

Break-even live

Break-even rent $4,763

Max offer price $499,900

Occupancy floor 91%

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19 Washington Ave Wyandanch, NY	6.0	1.5	2200	$4,999	$2.27	17d	1	0.96mi

Listing history 2 events

1. 2026-05-13
   status Pending 229-char remark
2. 2026-05-03
   listed $499,900 Active 229-char remark

ⓘ 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: $11,193 · $933/mo
• Projected year-2 tax: $11,193 · $933/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 5/10 Major FEMA zone X (unshaded) · 50% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% 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: $59,988
• − Mortgage interest: −$28,002
• − Property taxes: −$11,193
• − Insurance: −$2,500
• − Repairs & maintenance: −$4,799
• − Management: −$4,799
• − Depreciation: −$14,543
• Taxable loss: −$5,848
• Est. tax savings @ 24.0%: +$1,403
• After-tax cash flow: $3,643/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: Half Hollow Hills Central School District
• NCES district ID: 3613290
• Math proficiency: 79% ▲ 1.00%
• Reading proficiency: 75% ▲ 5.00%
• Median HH income: $120,022
• Composite: 71.89/100
• National rank: #215
• State rank: #41 of 590 in NY

Livability — Wheatley Heights

• Score: 75/100
• State rank: #275
• US rank: #4351

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wheatley Heights, NY

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: ▼ -296.70%
• Current HPI: 285.1922
• 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

2 events — show timeline

• 2026-05-13 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-05-03 Listed $499,900 OneKey® MLS as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2025): $11,193 · +0.0% YoY. Source: county tax records.