90 Wavecrest Dr · Mastic Beach, NY 11951

$224,999

2 bd · 1.0 ba · 552 sqft · SingleFamily public records · 14 Days on market

Built 1949 2,614 sqft lot

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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 +27.0/30.0
• Appreciation +10.0/10.0
• DSCR +9.3/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

: * * * Contract vendee * * * "As-is" sale. Great for investor, flipper, handyman. Cash offers. Includes . 2 acre lot next door, Great location near water! Great Views.

Key facts

• Near water
• .2 acre lot
• Great views

Tags

• .2 ACRE LOT
• NEAR WATER
• GREAT VIEWS

Property features AI

Exterior

• Parking: Driveway; No carport
• Utilities: No sewer listed; No utilities information listed
• Home design: Single family residence
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Kitchen: No appliances included
• Bedrooms: 4 total rooms (includes bedrooms and other rooms)
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating specified (other heating indicated); No cooling
• Interior features: Other interior features
• Laundry & utility: No washer/dryer information listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $630 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Cap rate 9.7% vs local median 4.7% in Mastic Beach — 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 61/100 on livability (#936 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: crime D, amenities F, commute F.
• William Floyd Union Free School District (suburban): math 48% / reading 57% proficiency, ranked #309 of 590 in NY (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: John S Hobart Elementary School (math 48% / reading 42%, grade D-, #1,274 of 2,108 statewide, top 61%, 798 students, 58% FRL); William Floyd Middle School (math 36% / reading 47%, grade F, #394 of 729 statewide, top 55%, 1,053 students, 54% FRL); William Floyd High School (math 65% / reading 87%, grade A-, #616 of 1,100 statewide, top 57%, 3,013 students, 54% FRL).
• Market conditions: 133 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

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $79k; list at $225k implies a 185% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• 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 $224,999

Questions for the listing agent

1. Built in 1949 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.29% ✓
• Cap rate: 9.66%
• Cash-on-cash: 12.01%
• DSCR: 1.53
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.1%
• Equity multiple: 3.58×
• Total profit: $162,799
• Equity at exit: $202,697

10-year hold

• IRR: 28.6%
• Equity multiple: 8.11×
• Total profit: $448,059
• Equity at exit: $437,124

Cash invested: $63,000 (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 11951

• Home prices YoY: 4.3%
• Active inventory: 133
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,900 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$387 /mo · $4,643/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$609
• Net cashflow: $630

Break-even live

Break-even rent $2,102

Max offer price $224,999

Occupancy floor 73%

Sensitivity live

Price	-10% $758	-5% $694	+0% $630	+5% $567	+10% $503
Rent	-10% $401	-5% $516	+0% $630	+5% $745	+10% $859
Rate	-1.0pp $744	-0.5pp $688	base $630	+0.5pp $572	+1.0pp $513

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Cedar Rd E Mastic Beach, NY	3.0	1.0	740	$2,900	$3.92	1d	1	0.86mi

Listing history 12 events

1. 2026-06-18
   days on market $224,999 Active 14 DOM
2. 2026-06-17
   days on market $224,999 Active 13 DOM
3. 2026-06-16
   days on market $224,999 Active 12 DOM
4. 2026-06-15
   price $224,999 Active 11 DOM
5. 2026-06-15
   days on market $249,999 Active 11 DOM
6. 2026-06-13
   days on market $249,999 Active 9 DOM
7. 2026-06-13
   days on market $249,999 Active 8 DOM
8. 2026-06-09
   days on market $249,999 Active 5 DOM
9. 2026-06-08
   days on market $249,999 Active 4 DOM
10. 2026-06-07
    days on market $249,999 Active 3 DOM
11. 2026-06-04
    remarks 175-char remark
12. 2026-06-04
    listed $249,999 Active 1 DOM

ⓘ 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: $4,643 · $387/mo
• Projected year-2 tax: $4,643 · $387/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 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥91°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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,800
• − Mortgage interest: −$12,603
• − Property taxes: −$4,643
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,784
• − Management: −$2,784
• − Depreciation: −$6,545
• Taxable income: $4,315
• Est. tax owed @ 24.0%: −$1,036
• After-tax cash flow: $6,529/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: William Floyd Union Free School District
• NCES district ID: 3618690
• Math proficiency: 48% ▲ 3.00%
• Reading proficiency: 57% ▲ 11.00%
• Median HH income: $70,564
• Composite: 46.79/100
• National rank: #2383
• State rank: #309 of 590 in NY

Livability — Mastic Beach

• Score: 61/100
• State rank: #936
• US rank: #18216

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mastic Beach, NY
• City population: 15,830
• Population (ZIP): 15,830

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 17% Two or more races 9% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 6% Cuban 2%
• Common ancestry: Lithuanian 3% Romanian 2% Italian 2%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 10% Other Indo-European 3% 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: ▲ 34.46%
• Current HPI: 829.86
• 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

+2172.7% since first listed

16 events — show timeline

• 2026-06-04 Listed $249,999 OneKey® MLS as Distributed by MLS Grid
• 2026-04-20 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-04-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-04-01 Listed $199,999 OneKey® MLS as Distributed by MLS Grid
• 2026-03-16 Listed $199,999 OneKey® MLS as Distributed by MLS Grid
• 2015-08-04 Sold (Public Records) $79,000 Public Records
• 2015-07-22 Sold (MLS) $79,000 OneKey® MLS as Distributed by MLS Grid
• 2015-07-22 Sold (MLS) $79,000 MLSLI
• 2015-05-05 Pending — MLSLI
• 2015-03-03 Price Changed $79,000 MLSLI
• 2015-02-10 Price Changed $99,000 MLSLI
• 2015-01-21 Price Changed $119,000 MLSLI
• 2014-12-04 Listed $121,000 MLSLI
• 2014-12-04 Listed $79,000 OneKey® MLS as Distributed by MLS Grid
• 1986-07-21 Sold (Public Records) $11,000 Public Records
• 1986-07-21 Sold (Public Records) $11,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $4,643 · +0.0% YoY. Source: county tax records.