183 S 7th St · Lindenhurst, NY 11757

$599,999

6 bd · 2.0 ba · 1,256 sqft · MultiFamily public records · 12 Days on market

Built 1940

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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 +26.1/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Schools +6.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Legal 2 Family by C/O located in the heart of Lindenhurst Village! Excellent income-producing opportunity! This property features a two bedroom and one bath apartment over a spacious one bedroom unit that offers direct access to a finished basement. The full finished basement is equipped with a full bath and has a seperate outside entrance. Updated gas boiler and hot water heater, efficient 3 zone heating. Additional highlights include a shared laundry room, large paved driveway, oversized fenced yard with storage shed and a great covered deck that’s perfect for outdoor enjoyment. Prime location close to transportation, village amenities, shopping, and dining makes this a smart addi

Key facts

• Updated gas boiler
• Large paved driveway
• Hot water heater

Tags

• FULL BASEMENT
• UPDATED GAS BOILER
• HOT WATER HEATER
• 3 ZONE HEATING
• LARGE PAVED DRIVEWAY
• OVERSIZED FENCED YARD

Property features AI

Exterior

• Parking: Driveway parking; On-street parking; Shared driveway
• Utilities: Public sewer; Electricity connected; Natural gas connected; Sewer connected; Public trash collection; Water connected
• Home design: Duplex property
• Construction: Frame and vinyl siding construction
• Exterior features: Frame construction with vinyl siding; Not waterfront

Interior

• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Bathrooms: Three full bathrooms
• Heating & cooling: Natural gas heating; No central cooling reported
• Interior features: Finished full basement with walk-out access; Additional interior features listed as 'Other'
• Laundry & utility: Shared laundry in common area; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/3.0-bath units multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $753/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $600k).
• Cap rate 9.3% vs local median 3.0% in Lindenhurst — 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 75/100 on livability (#260 in NY, #4,112 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: amenities D+, cost of living F, health & safety F.
• Lindenhurst Union Free School District (suburban): math 64% / reading 72% proficiency, ranked #139 of 590 in NY (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: West Gates Avenue School (math 54% / reading 74%, grade B, #591 of 2,108 statewide, top 31%, 278 students, 43% FRL); Lindenhurst Middle School (math 45% / reading 62%, grade C+, #228 of 729 statewide, top 31%, 1,284 students, 44% FRL); Lindenhurst Senior High School (math 86% / reading 95%, grade A+, #231 of 1,100 statewide, top 21%, 1,897 students, 41% FRL) — zoned schools average 43% FRL vs 21% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 204 active listings in the ZIP; high-income renter base; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• At $7,193/mo this rent would consume 67% of the median local household income ($128k/yr) (locally 580% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k 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 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $255k; list at $600k implies a 135% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 61% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $599,999

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.20% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.75%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-1,216
• Equity at exit: $89,462

10-year hold

• IRR: 9.5%
• Equity multiple: 1.73×
• Total profit: $122,923
• Equity at exit: $51,877

Cash invested: $168,000 (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 11757

• Active inventory: 204
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $7,193 medium
• Mortgage (P&I): −$3,146
• Tax from tax record: −$781 /mo · $9,367/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,511
• Net cashflow: $1,505

Break-even live

Break-even rent $5,287

Max offer price $599,999

Occupancy floor 74%

Sensitivity live

Price	-10% $1,845	-5% $1,675	+0% $1,505	+5% $1,336	+10% $1,166
Rent	-10% $937	-5% $1,221	+0% $1,505	+5% $1,790	+10% $2,074
Rate	-1.0pp $1,808	-0.5pp $1,658	base $1,505	+0.5pp $1,350	+1.0pp $1,192

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	3	$7,194
Total (2 units)			$7,193

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: $150,000
• Closing costs: $18,000
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-28
   status Pending
2. 2026-04-16
   listed $599,999 Active
3. 2019-05-07
   soldstatus $255,000

ⓘ 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: $9,367 · $781/mo
• Projected year-2 tax: $9,753 · $813/mo
• Expected delta: +$387/yr (+$32/mo · 4.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $86,316
• − Mortgage interest: −$33,609
• − Property taxes: −$9,367
• − Insurance: −$3,000
• − Repairs & maintenance: −$6,905
• − Management: −$6,905
• − Depreciation: −$17,455
• Taxable income: $9,075
• Est. tax owed @ 24.0%: −$2,178
• After-tax cash flow: $15,887/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: Lindenhurst Union Free School District
• NCES district ID: 3617380
• Math proficiency: 64% ▼ -2.00%
• Reading proficiency: 72% ▲ 1.00%
• Median HH income: $82,624
• Composite: 60.8/100
• National rank: #820
• State rank: #139 of 590 in NY

Livability — Lindenhurst

• Score: 75/100
• State rank: #260
• US rank: #4112

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lindenhurst, NY
• County: Suffolk County · 679,920 people
• City population: 44,413
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 44,413
• Household income: $127,889
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 580.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 20% Two or more races 9% Black 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 5% Dominican 6%
• Common ancestry: Romanian 7% Subsaharan African 3% Scotch-Irish 1%
• Foreign-born: 18% · Canada, Jamaica, China
• Languages at home: 71% English-only · Spanish 14% Russian/Polish/Slavic 8% Other Indo-European 3%

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: ▼ -743.47%
• Current HPI: 295.1742
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+135.3% since first listed

3 events — show timeline

• 2026-04-28 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-16 Listed $599,999 OneKey® MLS as Distributed by MLS Grid
• 2019-05-07 Sold (Public Records) $255,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $9,367 · +1.2% YoY. Source: county tax records.