98 Powell Ave · Southampton, NY 11968

$1,650,000

3 bd · 1.0 ba · 1,018 sqft · SingleFamily public records · 9 Days on market

Built 1998 0.38 ac lot

---

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 +24.6/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Rent growth +5.0/5.0
• Schools +4.8/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Build, Expand, or Enjoy in Southampton Village New to the market, this Southampton Village property presents a rare opportunity to own in one of the Hamptons' most sought-after locations. Set on . 38± acre, the property offers immediate enjoyment with significant future potential. The existing cottage is rich in character, featuring original wide-plank pine floors, a welcoming living room, separate dining room, kitchen, and full bath on the first floor. Upstairs are three bedrooms, offering comfortable accommodations for summer living or year-round use. Outside, a heated gunite pool, spa, and detached garage/storage building create a private setting for relaxation and entertaining. F

Key facts

• Heated gunite pool
• 0.38 acre lot
• Garage

Tags

• HEATED GUNITE POOL
• PRIVATE SETTING FOR RELAXATION
• NEAR SOUTHAMPTON VILLAGE SHOPS
• NEAR CULTURAL ATTRACTIONS

Property features AI

Exterior

• Parking: Attached parking; Driveway; Garage with storage; Approximately 1.5 garage spaces
• Utilities: Septic tank; Cable available; Electricity available and connected; Natural gas available; Private trash collection; Water available
• Home design: Single family residence
• Construction: Frame construction; Partial basement
• Exterior features: Frame construction; Private pool; Private spa; Not waterfront

Interior

• Kitchen: Cooktop; Dishwasher; Refrigerator
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heating; Central air conditioning
• Interior features: First-floor full bathroom; Eat-in kitchen; Entrance foyer; Open kitchen layout; Washer/dryer hookup
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $1.65M.

Deal economics

• 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 $1.65M).
• Cap rate 8.8% vs local median 2.8% in Southampton — 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 69/100 on livability (#472 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: commute D+, amenities F, cost of living F.
• Southampton Union Free School District (suburban): math 53% / reading 51% proficiency, ranked #293 of 590 in NY (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Southampton Elementary School (math 42% / reading 57%, grade D, #1,085 of 2,108 statewide, top 56%, 376 students, 51% FRL); Southampton Intermediate School (math 30% / reading 47%, grade F, #437 of 729 statewide, top 60%, 363 students, 44% FRL); Southampton High School (math 98%, 595 students, 48% FRL) — zoned schools average 48% FRL vs 30% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+14.6%/yr); 95 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• At $18,772/mo this rent would consume 144% of the median local household income ($156k/yr) (locally 274% 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 $11k of loan paydown is wiped out by about $50k 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 + 8.0% rent growth), your $462k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,650,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.14% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.90%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 2.7%
• Equity multiple: 1.11×
• Total profit: $50,396
• Equity at exit: $246,020

10-year hold

• IRR: 16.6%
• Equity multiple: 2.68×
• Total profit: $777,629
• Equity at exit: $142,662

Cash invested: $462,000 (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 11968

• Home prices YoY: -28.6%
• Rents YoY: 14.6%
• Active inventory: 95
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $18,772 medium
• Mortgage (P&I): −$8,653
• Tax est. 1.5%: −$2,062 /mo · $24,750/yr
• Insurance: −$688
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,942
• Net cashflow: $3,427

Break-even live

Break-even rent $14,434

Max offer price $1,650,000

Occupancy floor 77%

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: $412,500
• Closing costs: $49,500
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Leland Ln #35 Southampton, NY	2.0	2.0	1092	$29,000	$26.56	18d	1	0.42mi
10 Leland Ln #19 Southampton, NY	3.0	3.0	1400	$30,000	$21.43	43d	1	0.42mi
3 Meadowgrass Ln Southampton, NY	3.0	2.0	1434	$84,000	$58.58	43d	1	0.46mi
570 Hampton Rd #28 Southampton, NY	2.0	2.0	1400	$55,000	$39.29	21d	1	0.65mi
10 Henry St Southampton, NY	2.0	2.0	1025	$45,000	$43.90	43d	1	1.12mi
393 Hill St Southampton, NY	3.0	2.0	1345	$35,000	$26.02	43d	1	1.36mi

Listing history 8 events

1. 2026-06-18
   days on market $1,650,000 Active 9 DOM
2. 2026-06-17
   days on market $1,650,000 Active 8 DOM
3. 2026-06-16
   days on market $1,650,000 Active 7 DOM
4. 2026-06-15
   days on market $1,650,000 Active 6 DOM
5. 2026-06-13
   days on market $1,650,000 Active 4 DOM
6. 2026-06-13
   days on market $1,650,000 Active 3 DOM
7. 2026-06-10
   remarks 692-char remark
8. 2026-06-10
   listed $1,650,000 Active 1 DOM

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

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 ≥90°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $225,265
• − Mortgage interest: −$92,426
• − Property taxes: −$24,750
• − Insurance: −$8,250
• − Repairs & maintenance: −$18,021
• − Management: −$18,021
• − Depreciation: −$48,000
• Taxable income: $15,797
• Est. tax owed @ 24.0%: −$3,791
• After-tax cash flow: $37,335/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: Southampton Union Free School District
• NCES district ID: 3627540
• Math proficiency: 53% ▬ 0.00%
• Reading proficiency: 51% ▲ 4.00%
• Median HH income: $85,977
• Composite: 47.9/100
• National rank: #2213
• State rank: #293 of 590 in NY

Livability — Southampton

• Score: 69/100
• State rank: #472
• US rank: #8333

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southampton, NY
• County: Suffolk County · 679,920 people
• City population: 15,312
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 15,312
• Household income: $156,219
• Rent vs Own: 15.1% rent · 84.9% own
• Severe rent burden: 274.0

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 13% Two or more races 10% Black 9% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 5% Scotch-Irish 2% Danish 2%
• Foreign-born: 15% · Canada, Jamaica, Vietnam
• Languages at home: 81% English-only · Spanish 11% Other Indo-European 3% German/W. Germanic 2%

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: ▼ -184.86%
• Current HPI: 461.1144
• Rent YoY: ▲ 14.62%
• 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

+964.5% since first listed

5 events — show timeline

• 2026-06-05 Listed $1,650,000 OneKey® MLS as Distributed by MLS Grid
• 2019-02-26 Sold (Public Records) $1,650,000 Public Records
• 2015-07-20 Sold (Public Records) $750,000 Public Records
• 2006-08-10 Sold (Public Records) $719,680 Public Records
• 1992-04-24 Sold (Public Records) $155,000 Public Records

Property tax history

-4.5%/yr

Latest (2023): $1,153 · -66.7% YoY. Source: county tax records.