92 Cardinal Ln #92 · Islip, NY 11751

$385,000

2 bd · 1.5 ba · 887 sqft · Condo · 7 Days on market

Built 1970 Good condition

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +5.5/10.0
• 1% rule +4.3/10.0
• Livability +4.2/5.0
• Cash flow +3.9/30.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

The Woodlands at Islip, conveniently located near restaurants, shopping, LIRR, parks, beaches and more. This is pet a friendly coop, This home overlooks the courtyard. Community amenities include: Inground pool with lifeguard, basketball court, Pickleball court, Dog run, lovely landscaped common areas. Your maintenance fee includes: Taxes, heat, gas, water, sewers, pool, garbage, landscaping, snow removal. Owners are responsible for Electric and Cable. There are Pet limitations Dog under 18 inches and 20lbs. Your credit score must be at 650 or better. DTI under 35% Take home income at least 3 times the maintenance fee.

Key facts

• Pickleball court
• Basketball court
• Inground pool

Tags

• OVERLOOKS THE COURTYARD
• INGROUND POOL
• BASKETBALL COURT
• PICKLEBALL COURT
• DOG RUN
• LANDSCAPED COMMON AREAS

Property features AI

Finance

• Other: Living area measured by CubiCasa

Exterior

• Parking: Assigned parking (2 spaces); No carport
• Utilities: PSEG electric; Public sewer; Cable available; Electricity connected; Natural gas connected; Phone available; Sewer connected; Public trash collection; Water connected
• Home design: Stock cooperative; Two stories; Entry on level 1
• Construction: Brick construction
• Exterior features: Brick exterior; In-ground pool; Not waterfront; No additional parcels

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: Two-level home (total of 4 rooms)
• Flooring: Hardwood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Hot water heating; Natural gas heating; Wall/window air conditioning units
• Interior features: Eat-in kitchen; Deck; Partial basement; No attic; Pets allowed (contact for details)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $385k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $357k (7.3% below list).
• Recommended offer: $357k (7.3% below list) — sets the bar for 1% rule.

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.
• Zoned schools: Wing Elementary School (379 students, 35% FRL); Islip Middle School (math 32% / reading 52%, grade D-, #379 of 729 statewide, top 54%, 641 students, 37% FRL); Islip High School (math 88% / reading 93%, grade A+, #231 of 1,100 statewide, top 21%, 892 students, 33% FRL) — zoned schools average 35% FRL vs 20% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 87 active listings in the ZIP; 2 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 $12k 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 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.
• Climate carrying-cost: major wind risk, 65% 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 $357,038 (7.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.93% ✗
• Cap rate: 2.86%
• Cash-on-cash: -12.27%
• DSCR: 0.45
• GRM: 9.0

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: -38.6%
• Equity multiple: -0.22×
• Total profit: $-131,747
• Equity at exit: $57,405

10-year hold

• IRR: -55.8%
• Equity multiple: -0.87×
• Total profit: $-201,734
• Equity at exit: $33,288

Cash invested: $107,800 (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: 9.0×

Monthly cashflow live

• Estimated rent: $3,570 medium
• Mortgage (P&I): −$2,019
• Tax est. 1.5%: −$481 /mo · $5,775/yr
• Insurance: −$160
• HOA est. from 2 same-building comps: −$1,262
• Vacancy / Maint / Mgmt: −$750
• Net cashflow: $-1,102

Break-even live

Break-even rent $4,965

Max offer price $225,532

Occupancy floor —

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	0.61mi
584 Main St Unit 1 Islip, NY	1.0	1.0	620	$3,150	$5.08	2d	1	0.61mi

HOA detail condo

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

Listing history 2 events

1. 2026-04-21
   status Pending
2. 2026-04-09
   listed $385,000 Active

ⓘ 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 ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $42,845
• − Mortgage interest: −$21,566
• − Property taxes: −$5,775
• − Insurance: −$1,925
• − Repairs & maintenance: −$3,428
• − Management: −$3,428
• − HOA: −$15,144
• − Depreciation: −$11,200
• Taxable loss: −$19,621
• Est. tax savings @ 24.0%: +$4,709
• After-tax cash flow: $-8,516/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, move-in-ready condo is in good condition with a good condition score of 75. It has a good kitchen, bathrooms, and exterior. The home is located in a pet-friendly community with amenities such as an inground pool and basketball court. The maintenance fee includes taxes, heat, gas, water, sewers, pool, garbage, landscaping, and snow removal. The home is located near restaurants, shopping, LIRR, parks, and beaches.

Value-add opportunities

• Both Painting the exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Resale New flooring in bathrooms — Improves functionality and appearance
• Resale New kitchen backsplash — Modernizes the kitchen and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Resale New flooring in bathrooms — Improves functionality and appearance ↑
• Resale New kitchen backsplash — Modernizes the kitchen and adds 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

2 events — show timeline

• 2026-04-21 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-09 Listed $385,000 OneKey® MLS as Distributed by MLS Grid