19 16th St · Springs, NY 11937

$935,000

2 bd · 1.0 ba · 1,000 sqft · SingleFamily · 153 Days on market

Built 1965 8,240 sqft lot $935/sqft · 21% below area Est $1190k · 21% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.1/10.0
• Rent growth +5.0/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tucked away on a quiet street in the heart of Springs, this reimagined one-story home is an oasis that offers a rare kind of Hamptons living: bright, easy, and carefree. Spend relaxed mornings in an airy living space with exposed beams, painted hardwood floors, charming built-in bookcases, filled with natural light. Enjoy your coffee in a newly updated kitchen featuring butcher block countertops, brass hardware, and an enamel artist's sink overlooking the spacious backyard. A renovated full bath with penny tile flooring and brushed nickel fixtures adds a crisp, classic note. The home blends the best of its vintage cottage charm with intentional and modern updates, making it feel both lived in and new at the same time. This home is the perfect launching pad for your beachy adventures. Just minutes from the famed Gerard Drive beaches, the Pollock Krasner house, dozens of hiking trails, Round Swamp Farm, S&S Coffee Shop, and the Springs Farmers' Market. Perfectly sited, equidistant from from all that East Hampton and Amagansett offer all year round. The cottage is nestled on a shy quarter acre, with a newly fenced and irrigated yard, uncluttered, lush and private-ideal for flower gardens, growing tomatoes and hosting late afternoon grills. There's ample room for a custom pool or spa with tailored hardscaping. An exterior-accessed basement with laundry offers additional storage, flexibility, and plenty of space for surfboards, bikes, and beach gear. Recently updated with new central air conditioning and heating, a new roof, new well, and upgraded mechanicals, this home has a recently issued Certificate of Occupancy for immediate enjoyment and headache-free ownership. Whether you're a first-time Hamptons homeowner, looking for expansion potential, or seeking rental income (with a strong track record), this is a compelling property with enduring value in a location rich in history, nature, and quiet beauty.

Key facts

• Brass hardware
• Penny tile flooring
• Renovated full bath

Tags

• UPDATED KITCHEN
• BUTCHER BLOCK COUNTERTOPS
• BRASS HARDWARE
• ENAMEL ARTIST'S SINK
• RENOVATED FULL BATH
• PENNY TILE FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $935k.

Deal economics

• At list price, monthly cash flow is $7k ($83k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $935k).
• Recommended offer: $823k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.2% vs local median 11.1% in Springs — 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 63/100 on livability (#809 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing C-, schools D-, amenities F.
• Springs Union Free School District (town): math 55% / reading 60% proficiency, ranked #239 of 590 in NY (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 9% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+12.3%/yr); 135 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• At $15,879/mo this rent would consume 147% of the median local household income ($130k/yr) (locally 896% 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 $6k of loan paydown is wiped out by about $28k 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 $262k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($823k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $50k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $750k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $822,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.70% ✓
• Cap rate: 15.17%
• Cash-on-cash: 31.70%
• DSCR: 2.41
• GRM: 4.9

CMA / ARV

• ARV (median comp): $1,189,886
• List price: $935,000
• Delta: -21.42%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
158 Gardiner Ave	0.05mi	3/3.0 (+1)	900 (-10%)	0mo	$1,120,000	$1,244	68
13 Eau Claire St	0.62mi	3/2.0 (+1)	1,000 (0%)	9mo	$1,099,000	$1,099	54
3 Ninth St	0.34mi	3/2.0 (+1)	1,083 (+8%)	18mo	$750,000	$693	46

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 31.8%
• Equity multiple: 2.42×
• Total profit: $372,625
• Equity at exit: $139,412

10-year hold

• IRR: 41.5%
• Equity multiple: 5.86×
• Total profit: $1,272,510
• Equity at exit: $80,842

Cash invested: $261,800 (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 11937

• Rents YoY: 12.3%
• Active inventory: 135
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $15,879 medium
• Mortgage (P&I): −$4,903
• Tax from tax record: −$335 /mo · $4,025/yr
• Insurance: −$390
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,335
• Net cashflow: $6,916

Break-even live

Break-even rent $7,124

Max offer price $935,000

Occupancy floor 51%

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: $233,750
• Closing costs: $28,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
117 Woodbine Dr East Hampton, NY	3.0	2.0	1496	$65,000	$43.45	43d	1	0.33mi
38 Woodbine Dr East Hampton, NY	3.0	2.0	1000	$10,000	$10.00	18d	1	0.63mi

Listing history 21 events

1. 2026-06-18
   days on market $935,000 Active 153 DOM
2. 2026-06-17
   days on market $935,000 Active 152 DOM
3. 2026-06-16
   days on market $935,000 Active 151 DOM
4. 2026-06-15
   days on market $935,000 Active 150 DOM
5. 2026-06-13
   days on market $935,000 Active 148 DOM
6. 2026-06-13
   days on market $935,000 Active 147 DOM
7. 2026-06-09
   days on market $935,000 Active 144 DOM
8. 2026-06-08
   days on market $935,000 Active 143 DOM
9. 2026-06-07
   days on market $935,000 Active 142 DOM
10. 2026-06-04
    days on market $935,000 Active 139 DOM
11. 2026-06-03
    days on market $935,000 Active 138 DOM
12. 2026-06-02
    days on market $935,000 Active 137 DOM
13. 2026-06-01
    days on market $935,000 Active 136 DOM
14. 2026-05-31
    days on market $935,000 Active 135 DOM
15. 2026-03-11
    price $935,000 1938-char remark

    Show marketing remark (1938 chars)

    Tucked away on a quiet street in the heart of Springs, this reimagined one-story home is an oasis that offers a rare kind of Hamptons living: bright, easy, and carefree. Spend relaxed mornings in an airy living space with exposed beams, painted hardwood floors, charming built-in bookcases, filled with natural light. Enjoy your coffee in a newly updated kitchen featuring butcher block countertops, brass hardware, and an enamel artist's sink overlooking the spacious backyard. A renovated full bath with penny tile flooring and brushed nickel fixtures adds a crisp, classic note. The home blends the best of its vintage cottage charm with intentional and modern updates, making it feel both lived in and new at the same time. This home is the perfect launching pad for your beachy adventures. Just minutes from the famed Gerard Drive beaches, the Pollock Krasner house, dozens of hiking trails, Round Swamp Farm, S&S Coffee Shop, and the Springs Farmers' Market. Perfectly sited, equidistant from from all that East Hampton and Amagansett offer all year round. The cottage is nestled on a shy quarter acre, with a newly fenced and irrigated yard, uncluttered, lush and private-ideal for flower gardens, growing tomatoes and hosting late afternoon grills. There's ample room for a custom pool or spa with tailored hardscaping. An exterior-accessed basement with laundry offers additional storage, flexibility, and plenty of space for surfboards, bikes, and beach gear. Recently updated with new central air conditioning and heating, a new roof, new well, and upgraded mechanicals, this home has a recently issued Certificate of Occupancy for immediate enjoyment and headache-free ownership. Whether you're a first-time Hamptons homeowner, looking for expansion potential, or seeking rental income (with a strong track record), this is a compelling property with enduring value in a location rich in history, nature, and quiet beauty.

16. 2026-01-16
    listed $985,000 Active 1938-char remark

    Show marketing remark (1938 chars)

    Tucked away on a quiet street in the heart of Springs, this reimagined one-story home is an oasis that offers a rare kind of Hamptons living: bright, easy, and carefree. Spend relaxed mornings in an airy living space with exposed beams, painted hardwood floors, charming built-in bookcases, filled with natural light. Enjoy your coffee in a newly updated kitchen featuring butcher block countertops, brass hardware, and an enamel artist's sink overlooking the spacious backyard. A renovated full bath with penny tile flooring and brushed nickel fixtures adds a crisp, classic note. The home blends the best of its vintage cottage charm with intentional and modern updates, making it feel both lived in and new at the same time. This home is the perfect launching pad for your beachy adventures. Just minutes from the famed Gerard Drive beaches, the Pollock Krasner house, dozens of hiking trails, Round Swamp Farm, S&S Coffee Shop, and the Springs Farmers' Market. Perfectly sited, equidistant from from all that East Hampton and Amagansett offer all year round. The cottage is nestled on a shy quarter acre, with a newly fenced and irrigated yard, uncluttered, lush and private-ideal for flower gardens, growing tomatoes and hosting late afternoon grills. There's ample room for a custom pool or spa with tailored hardscaping. An exterior-accessed basement with laundry offers additional storage, flexibility, and plenty of space for surfboards, bikes, and beach gear. Recently updated with new central air conditioning and heating, a new roof, new well, and upgraded mechanicals, this home has a recently issued Certificate of Occupancy for immediate enjoyment and headache-free ownership. Whether you're a first-time Hamptons homeowner, looking for expansion potential, or seeking rental income (with a strong track record), this is a compelling property with enduring value in a location rich in history, nature, and quiet beauty.

17. 2023-06-29
    soldstatus $750,000
18. 2023-04-28
    soldstatus $750,000 Closed 264-char remark

    Show marketing remark (264 chars)

    Charming Cottage With Endless Character! 2 Bedroom 1 Bath, Wood Flooring Perfect Starter Home Or Vacation Spot Set In Tranquil Location On Dead End Street. Potential For New Buyer To Renovate/Add More Square Footage With Room For A Pool. More Pictures Coming Soon.

19. 2023-02-18
    status Pending 264-char remark

    Show marketing remark (264 chars)

    Charming Cottage With Endless Character! 2 Bedroom 1 Bath, Wood Flooring Perfect Starter Home Or Vacation Spot Set In Tranquil Location On Dead End Street. Potential For New Buyer To Renovate/Add More Square Footage With Room For A Pool. More Pictures Coming Soon.

20. 2023-01-27
    listed $799,000 Active 264-char remark

    Show marketing remark (264 chars)

    Charming Cottage With Endless Character! 2 Bedroom 1 Bath, Wood Flooring Perfect Starter Home Or Vacation Spot Set In Tranquil Location On Dead End Street. Potential For New Buyer To Renovate/Add More Square Footage With Room For A Pool. More Pictures Coming Soon.

21. 2003-01-02
    soldstatus $200,000

ⓘ 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: $4,025 · $335/mo
• Projected year-2 tax: $9,913 · $826/mo
• Expected delta: +$5,888/yr (+$491/mo · 146.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥89°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $190,547
• − Mortgage interest: −$52,375
• − Property taxes: −$4,025
• − Insurance: −$4,675
• − Repairs & maintenance: −$15,244
• − Management: −$15,244
• − Depreciation: −$27,200
• Taxable income: $71,785
• Est. tax owed @ 24.0%: −$17,228
• After-tax cash flow: $65,765/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: Springs Union Free School District
• NCES district ID: 3627900
• Math proficiency: 55% ▲ 6.00%
• Reading proficiency: 60% ▲ 10.00%
• Median HH income: $75,413
• Composite: 51.42/100
• National rank: #1728
• State rank: #239 of 590 in NY

Livability — Springs

• Score: 63/100
• State rank: #809
• US rank: #15666

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springs, NY
• County: Suffolk County · 679,920 people
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 21,882
• Household income: $129,883
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 896.0

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: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 32% Two or more races 23% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 5% Scotch-Irish 4% Italian 2%
• Foreign-born: 25% · Canada, Guatemala, Jamaica
• Languages at home: 68% English-only · Spanish 28% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -285.21%
• Current HPI: 444.1499
• Rent YoY: ▲ 12.28%
• 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

+367.5% since first listed

7 events — show timeline

• 2026-03-11 Price Changed $935,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-16 Listed $985,000 OneKey® MLS as Distributed by MLS Grid
• 2023-06-29 Sold (Public Records) $750,000 Public Records
• 2023-04-28 Sold (MLS) $750,000 OneKey® MLS as Distributed by MLS Grid
• 2023-02-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-01-27 Listed $799,000 OneKey® MLS as Distributed by MLS Grid
• 2003-01-02 Sold (Public Records) $200,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $4,025 · +0.0% YoY. Source: county tax records.