2397 Union Blvd Unit 8a · Islip, NY 11751

$250,000

2 bd · 1.0 ba · 925 sqft · Townhouse · 84 Days on market

Built 1971 Good condition $270/sqft · 8% below area Est $273k · 8% under

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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 +25.4/30.0
• ARV discount +11.3/15.0
• DSCR +8.4/10.0
• 1% rule +6.7/10.0
• Schools +6.6/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Forest Green! This move-in ready ground-floor 2-bedroom co-op offers the perfect blend of comfort and convenience. Ideally situated with close access to parking and overlooking a peaceful courtyard, this pet-friendly home is designed for easy living. The spacious layout features generous room sizes, abundant natural light, and a well-maintained interior ready for its next owner. Enjoy a carefree lifestyle with community amenities and maintenance that covers many ownership expenses, allowing you to spend more time enjoying all that Islip has to offer. Conveniently located near shopping, restaurants, transportation, the LIRR, parks, and Fire Island ferries.

Key facts

• Built 1971
• Listed 83 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $250k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $574 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $235k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.0% in Islip — 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 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: 134 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals lingering (median 40d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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).
• This rent runs 30% of the median local income ($116k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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

• It's been on market 84 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.

Recommended offer $235,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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 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 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: 1.17% ✓
• Cap rate: 9.05%
• Cash-on-cash: 9.85%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

• ARV (median comp): $272,911
• List price: $250,000
• Delta: -4.73%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2449 Union Blvd Unit 19B	0.14mi	2/1.0	875 (-5%)	7mo	$290,000	$331	78
2453 Union Blvd Unit 37A	0.23mi	1/1.0 (-1)	900 (-3%)	3mo	$215,000	$239	77
2449 Union Blvd Unit 39B	0.15mi	2/1.0	892 (-4%)	12mo	$270,000	$303	77
2445 Union Blvd Unit 7a	0.12mi	1/1.0 (-1)	900 (-3%)	11mo	$250,000	$278	76
2439 Union Blvd Unit 1A	0.07mi	2/1.0	1,000 (+8%)	11mo	$317,000	$317	74
2453 Union Blvd Apt 21B	0.23mi	2/1.0	1,000 (+8%)	4mo	$318,000	$318	72
2449 Union Blvd Unit 10A	0.15mi	1/1.0 (-1)	890 (-4%)	12mo	$290,000	$326	72
2417 Union Blvd Unit 3B	0.06mi	1/1.0 (-1)	850 (-8%)	12mo	$183,000	$215	68
2417 Union Blvd Unit 2B	0.06mi	1/1.0 (-1)	825 (-11%)	9mo	$215,000	$261	67
2435 Union Blvd Unit 7A	0.11mi	1/1.0 (-1)	1,000 (+8%)	11mo	$250,000	$250	67
2453 Union Blvd Unit 37B	0.23mi	1/1.0 (-1)	850 (-8%)	10mo	$248,500	$292	62
2453A Union Blvd Unit 21A	0.46mi	1/1.0 (-1)	952 (+3%)	12mo	$270,000	$284	59

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: -1.5%
• Equity multiple: 0.94×
• Total profit: $-3,884
• Equity at exit: $37,276

10-year hold

• IRR: 8.2%
• Equity multiple: 1.63×
• Total profit: $43,904
• Equity at exit: $21,615

Cash invested: $70,000 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 9 active · 11 under contract
• Months of supply: 27.0 mo (4%/mo absorbed)
• Median asking: $239,999 ($297/sqft)
• Median days on market: 35 d
• This list price: 56% of active listings are priced below it
• ARV vs active asking: -0.7% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 11751

• Active inventory: 134
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,914 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$612
• Net cashflow: $574

Break-even live

Break-even rent $2,187

Max offer price $250,000

Occupancy floor 75%

Sensitivity live

Price	-10% $747	-5% $661	+0% $574	+5% $488	+10% $402
Rent	-10% $344	-5% $459	+0% $574	+5% $689	+10% $805
Rate	-1.0pp $700	-0.5pp $638	base $574	+0.5pp $510	+1.0pp $444

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: $62,500
• Closing costs: $7,500
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29 Buffalo Ave Islip, NY	1.0–2.0	1.0	885	$2,794	$3.16	1d	3	0.18mi
41 Charley's Pl Unit 41 Bay Shore, NY	1.0	1.0	842	$2,850	$3.38	82d	1	0.29mi
403 E Main St Unit 403-1A Bay Shore, NY	1.0	1.0	600	$2,470	$4.12	26d	1	0.55mi
405 E Main St Bay Shore, NY	2.0	1.0–2.0	750	$2,950	$3.93	0d	1	0.55mi
407 E Main St Unit 7A Bay Shore, NY	2.0	2.0	900	$2,950	$3.28	76d	1	0.56mi
407 E Main St Unit 407-7B Bay Shore, NY	1.0	1.0	600	$2,470	$4.12	26d	1	0.56mi
587 Main St Unit 2 Islip, NY	2.0	1.0	950	$3,050	$3.21	1d	1	0.68mi
584 Main St Unit 5 Islip, NY	2.0	2.0	995	$3,900	$3.92	139d	1	0.69mi
584 Main St Unit 1 Islip, NY	1.0	1.0	620	$3,000	$4.84	1d	1	0.69mi
16 Willow Ave Unit 2B Islip, NY	1.0	1.0	900	$3,025	$3.36	1d	1	0.70mi
35 Penataquit Ave Bay Shore, NY	2.0	1.0–1.5	657	$3,180	$4.84	0d	17	0.72mi
39 Chapman Pl Bay Shore, NY	3.0	1.0	1026	$2,850	$2.78	21d	1	0.81mi
54 Belford Ave Bay Shore, NY	3.0	1.0	1110	$3,500	$3.15	93d	1	0.93mi
11 1st Ave Unit 305 Bay Shore, NY	2.0	2.0	750	$3,150	$4.20	39d	1	1.14mi
39 Bay Shore Ave Bay Shore, NY	1.0	1.0	544	$2,400	$4.41	139d	1	1.26mi
14 Perkal St Bay Shore, NY	3.0	2.0	1000	$3,000	$3.00	10d	1	1.30mi
309 Brook Ave Unit 309-1A Bay Shore, NY	1.0	1.0	700	$2,415	$3.45	111d	1	1.33mi
317 Brook Ave Unit 317-2B Bay Shore, NY	1.0	1.0	700	$2,415	$3.45	32d	1	1.35mi
317 Brook Ave Unit 317-1B Bay Shore, NY	1.0	1.0	700	$2,415	$3.45	56d	1	1.35mi
11 Maple Ave Unit 304 Bay Shore, NY	1.0	1.0	733	$3,275	$4.47	39d	1	1.36mi
325 Brook Ave Unit 325-2A Bay Shore, NY	1.0	1.0	700	$2,415	$3.45	139d	1	1.36mi
319 Brook Ave Unit 319-1B Bay Shore, NY	2.0	1.0	900	$3,025	$3.36	29d	1	1.37mi
143 4th Ave Bay Shore, NY	3.0	1.0–2.5	1024	$5,351	$5.23	0d	26	1.41mi
1 June Ct Unit 2A Bay Shore, NY	1.0	1.0	700	$1,900	$2.71	47d	1	1.42mi
62 Moffitt Blvd East Islip, NY	1.0	1.0	650	$1,650	$2.54	1d	1	1.48mi
227 4th Ave Unit 211J Bay Shore, NY	1.0	1.0	738	$2,950	$4.00	139d	1	1.50mi
227 4th Ave Unit 306E Bay Shore, NY	1.0	1.0	671	$2,850	$4.25	84d	1	1.50mi
61 W Main St Unit 307 Bay Shore, NY	2.0	1.0	945	$2,950	$3.12	7d	1	1.50mi
227 4th Ave Unit 207F Bay Shore, NY	1.0	1.0	771	$2,950	$3.83	90d	1	1.50mi
227 4th Ave Unit 307F Bay Shore, NY	1.0	1.0	771	$2,950	$3.83	113d	1	1.50mi
191 Newbrook Ln Unit 191 Bay Shore, NY	1.0	1.0	800	$2,350	$2.94	51d	1	1.50mi

Property features AI

Finance

• HOA & community: Pets allowed (cats and dogs allowed; size limits apply)

Exterior

• Parking: Common parking (no carport)
• Utilities: Public sewerCable availableElectricity availableWater connected
• Home design: Stock cooperativeEntry level unit (building entry level 8)
• Construction: Brick and frame construction
• Exterior features: Brick and frame constructionNot waterfront

Interior

• Kitchen: Convection ovenCooktopOvenDishwasherRefrigerator
• Bedrooms: Bedroom on the first floor
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heatWall/window air conditioning unit(s)
• Interior features: First-floor bedroomFirst-floor full bathroom2 total storiesBasement present (no finished basement)
• Laundry & utility: Common area laundry

Listing history 50 events

1. 2026-09-24
   pricedays on market $250,000 Active 84 DOM
2. 2026-09-22
   days on market $260,000 Active 82 DOM
3. 2026-09-21
   days on market $260,000 Active 81 DOM
4. 2026-09-20
   days on market $260,000 Active 80 DOM
5. 2026-09-19
   days on market $260,000 Active 79 DOM
6. 2026-09-18
   days on market $260,000 Active 78 DOM
7. 2026-09-17
   days on market $260,000 Active 77 DOM
8. 2026-09-16
   days on market $260,000 Active 76 DOM
9. 2026-09-15
   days on market $260,000 Active 75 DOM
10. 2026-09-14
    days on market $260,000 Active 74 DOM
11. 2026-09-13
    days on market $260,000 Active 73 DOM
12. 2026-09-12
    pricedays on market $260,000 Active 72 DOM
13. 2026-09-11
    days on market $265,000 Active 71 DOM
14. 2026-09-05
    days on market $265,000 Active 65 DOM
15. 2026-09-04
    days on market $265,000 Active 64 DOM
16. 2026-09-02
    days on market $265,000 Active 62 DOM
17. 2026-08-31
    days on market $265,000 Active 60 DOM
18. 2026-08-30
    days on market $265,000 Active 59 DOM
19. 2026-08-29
    days on market $265,000 Active 58 DOM
20. 2026-08-28
    days on market $265,000 Active 57 DOM
21. 2026-08-27
    days on market $265,000 Active 56 DOM
22. 2026-08-26
    days on market $265,000 Active 55 DOM
23. 2026-08-25
    price $265,000 Active 54 DOM
24. 2026-08-25
    days on market $269,000 Active 54 DOM
25. 2026-08-24
    days on market $269,000 Active 53 DOM
26. 2026-08-23
    days on market $269,000 Active 52 DOM
27. 2026-08-22
    days on market $269,000 Active 51 DOM
28. 2026-08-21
    days on market $269,000 Active 50 DOM
29. 2026-08-20
    days on market $269,000 Active 49 DOM
30. 2026-08-19
    days on market $269,000 Active 48 DOM
31. 2026-08-18
    days on market $269,000 Active 47 DOM
32. 2026-08-17
    days on market $269,000 Active 46 DOM
33. 2026-08-16
    days on market $269,000 Active 45 DOM
34. 2026-08-15
    days on market $269,000 Active 44 DOM
35. 2026-08-14
    days on market $269,000 Active 43 DOM
36. 2026-08-13
    pricedays on market $269,000 Active 42 DOM
37. 2026-08-12
    days on market $275,000 Active 41 DOM
38. 2026-08-11
    days on market $275,000 Active 40 DOM
39. 2026-08-10
    days on market $275,000 Active 39 DOM
40. 2026-08-09
    days on market $275,000 Active 38 DOM
41. 2026-08-08
    days on market $275,000 Active 37 DOM
42. 2026-08-06
    days on market $275,000 Active 35 DOM
43. 2026-08-05
    days on market $275,000 Active 34 DOM
44. 2026-08-04
    days on market $275,000 Active 33 DOM
45. 2026-08-03
    days on market $275,000 Active 32 DOM
46. 2026-07-31
    days on market $275,000 Active 29 DOM
47. 2026-07-30
    days on market $275,000 Active 28 DOM
48. 2026-07-30
    days on market $275,000 Active 27 DOM
49. 2026-07-28
    days on market $275,000 Active 26 DOM
50. 2026-07-26
    days on market $275,000 Active 24 DOM

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

Taxation est. · year 1

• Rental income: $34,968
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,797
• − Management: −$2,797
• − Depreciation: −$7,273
• Taxable income: $3,097
• Est. tax owed @ 24.0%: −$743
• After-tax cash flow: $6,149/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 80/100 Cosmetic rehab Est. rehab $4,625–$13,875 screening

This 2-bedroom condo in Islip NY is in good condition with a good rehab level, ready for minor cosmetic updates to enhance its resale and rental value.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Reorganizing interior layout — Improves flow and functionality ↑
• Both Upgrading kitchen appliances — Modernizes the space and adds value ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 66/100

Zoned Schools

Elementary Wing Elementary School Middle Islip Middle School D- NY #379/729 Nat'l #5,398/14,009 High Islip High School A+ NY #231/1,100 Nat'l #375/17,239

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

A Composite livability gradescore 83/100

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
• County: Suffolk · 1,505,262 people
• City population: 13,152
• Metro: New York-Newark-Jersey City, NY-NJ
• Population (ZIP): 13,152
• Household income: $116,328
• Rent vs Own: 16.6% rent · 83.4% own

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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%

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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%

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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

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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

Property features AI

Finance

• HOA & community: Pets allowed (cats and dogs allowed; size limits apply)

Exterior

• Parking: Common parking (no carport)
• Utilities: Public sewerCable availableElectricity availableWater connected
• Home design: Stock cooperativeEntry level unit (building entry level 8)
• Construction: Brick and frame construction
• Exterior features: Brick and frame constructionNot waterfront

Interior

• Kitchen: Convection ovenCooktopOvenDishwasherRefrigerator
• Bedrooms: Bedroom on the first floor
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heatWall/window air conditioning unit(s)
• Interior features: First-floor bedroomFirst-floor full bathroom2 total storiesBasement present (no finished basement)
• Laundry & utility: Common area laundry

Price history

+0.0% since first listed

3 events — show timeline

• 2026-06-12 Listed $269,000 OneKey® MLS as Distributed by MLS Grid
• 2026-06-08 Price Changed $269,000 OneKey® MLS as Distributed by MLS Grid
• 2026-06-08 Coming Soon — OneKey® MLS as Distributed by MLS Grid