735 aka 718 Wiggins St · Greenport West, NY 11944

$865,000

4 bd · 3.0 ba · 1,588 sqft · SingleFamily · 111 Days on market

Built 1960 10,019 sqft lot Est $858k · at est. ↓ 4% since listing

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.1/15.0
• Schools +4.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming Farmhouse/Colonial in one of Greenport’s most desirable in-town neighborhoods. Just moments from sandy beaches, award-winning restaurants, boutique shops, and the harbor, this home offers the perfect blend of village lifestyle and quiet residential living. Enjoy 4 bedrooms all privately set on the second level, including a spacious primary bedroom with a cozy loft. Sunlight fills the home through classic windows that complement the warmth of wood floors throughout. The inviting first floor features an eat-in kitchen with granite countertops, stainless steel appliances, and a pantry, along with the convenience of a first-floor laundry room. Step outside onto t

Key facts

• Cozy loft
• Farmhouse colonial
• Eat-in kitchen

Tags

• FARMHOUSE COLONIAL
• COZY LOFT
• EAT-IN KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• FIRST-FLOOR LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $865k.

Deal economics

• At list price, monthly cash flow is $6k ($77k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $865k).
• Recommended offer: $787k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.2% vs local median 8.1% in Greenport West — 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 58/100 on livability (#1,073 in NY) — a working-class tenant base; expect higher turnover. Strengths: crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Greenport Union Free School District (town): math 55% / reading 45% proficiency, ranked #450 of 755 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Greenport Elementary School (math 47% / reading 62%, grade C, #908 of 2,108 statewide, top 46%, 339 students, 61% FRL); Greenport High School (math 52% / reading 54%, grade C-, #934 of 1,100 statewide, top 86%, 356 students, 63% FRL).
• Market conditions: 69 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $6k of loan paydown is wiped out by about $26k 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 + 3.0% rent growth), your $242k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($787k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $787,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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: 1.81% ✓
• Cap rate: 15.17%
• Cash-on-cash: 31.72%
• DSCR: 2.41
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $857,520
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
520 4th St	0.29mi	3/2.0 (-1)	1,599 (+1%)	11mo	$890,000	$557	67
426 Clark St	0.35mi	3/2.5 (-1)	1,672 (+5%)	3mo	$1,645,000	$984	65
312 5th Ave	0.31mi	3/2.0 (-1)	1,620 (+2%)	10mo	$875,000	$540	65
73175 Main Rd	0.52mi	3/2.0 (-1)	1,540 (-3%)	2mo	$595,000	$386	60
416 West St	0.37mi	4/1.5	1,450 (-9%)	4mo	$725,000	$500	59
237 5th Ave	0.24mi	3/1.5 (-1)	1,700 (+7%)	11mo	$1,250,000	$735	57
216 North St	0.52mi	3/3.5 (-1)	1,724 (+9%)	0mo	$999,000	$579	54
239 5th Ave	0.25mi	3/2.0 (-1)	1,750 (+10%)	15mo	$895,000	$511	50
1605 Washington Ave	0.66mi	4/3.0	1,740 (+10%)	6mo	$1,295,000	$744	48
336 2nd St	0.49mi	4/2.0	1,800 (+13%)	15mo	$578,000	$321	38
35 Washington Ave	0.75mi	5/3.0 (+1)	1,805 (+14%)	2mo	$750,000	$416	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.7%
• Equity multiple: 2.11×
• Total profit: $267,839
• Equity at exit: $128,974

10-year hold

• IRR: 34.3%
• Equity multiple: 4.13×
• Total profit: $759,259
• Equity at exit: $74,789

Cash invested: $242,200 (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 11944

• Home prices YoY: -23.7%
• Active inventory: 69
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $15,671 medium
• Mortgage (P&I): −$4,536
• Tax est. 1.5%: −$1,081 /mo · $12,975/yr
• Insurance: −$360
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,291
• Net cashflow: $6,402

Break-even live

Break-even rent $7,567

Max offer price $865,000

Occupancy floor 54%

Sensitivity live

Price	-10% $7,000	-5% $6,701	+0% $6,402	+5% $6,103	+10% $5,805
Rent	-10% $5,164	-5% $5,783	+0% $6,402	+5% $7,021	+10% $7,640
Rate	-1.0pp $6,838	-0.5pp $6,622	base $6,402	+0.5pp $6,178	+1.0pp $5,950

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: $216,250
• Closing costs: $25,950
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
312 5th Ave Greenport, NY	4.0	2.0	1900	$12,000	$6.32	45d	1	0.31mi
134 6th St Greenport, NY	3.0	2.0	1560	$18,500	$11.86	20d	1	0.43mi
131 6th St Unit G Greenport, NY	3.0	2.5	2238	$5,000	$2.23	26d	1	0.44mi
123 Sterling Ave #2 Greenport, NY	3.0	3.0	1528	$45,000	$29.45	45d	1	0.77mi
485 Sutton Pl Greenport, NY	4.0	2.5	2026	$20,000	$9.87	45d	1	1.02mi

Listing history 3 events

1. 2026-03-30
   status Pending
2. 2026-03-05
   price $865,000
3. 2025-12-09
   listed $899,000 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 ≥90°F today · 20 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: $188,053
• − Mortgage interest: −$48,453
• − Property taxes: −$12,975
• − Insurance: −$4,325
• − Repairs & maintenance: −$15,044
• − Management: −$15,044
• − Depreciation: −$25,164
• Taxable income: $67,048
• Est. tax owed @ 24.0%: −$16,091
• After-tax cash flow: $60,737/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: Greenport Union Free School District
• NCES district ID: 3612840
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $54,490
• Composite: 45.25/100
• National rank: #5759
• State rank: #450 of 755 in NY

Livability — Greenport West

• Score: 58/100
• State rank: #1073
• US rank: #21520

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenport West, NY
• Population (ZIP): 4,744

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 23% Two or more races 6% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 6% Lithuanian 2% Subsaharan African 2%
• Foreign-born: 19% · Canada, China
• Languages at home: 69% English-only · Spanish 22% German/W. Germanic 3% Russian/Polish/Slavic 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: ▼ -143.97%
• Current HPI: 462.3431
• 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

-3.8% since first listed

3 events — show timeline

• 2026-03-30 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $865,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-09 Listed $899,000 OneKey® MLS as Distributed by MLS Grid