2 Heather Dr · Remsenburg-Speonk, NY 11960

$1,750,000

3 bd · 2.0 ba · 2,003 sqft · SingleFamily public records · 17 Days on market

Built 1996 2,400 sqft lot Est $1348k · 30% over

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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 +29.1/30.0
• DSCR +10.0/10.0
• Appreciation +8.9/10.0
• 1% rule +6.9/10.0
• Schools +4.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

Modern Hamptons Charm Welcome to 2 Heather Drive in idyllic Remsenburg! Beautifully updated and thoughtfully designed, this charming home offers the perfect blend of modern upgrades and timeless Hamptons appeal. Spanning 2,400 square feet, the home features new red oak flooring throughout, creating a warm and inviting atmosphere in every room. With 4 comfortable bedrooms, including 2 en suites, and 3.5 well-appointed bathrooms, there is plenty of space for both relaxation and entertaining. The bright and airy living spaces flow seamlessly into the updated kitchen, complete with custom cabinetry, quartz countertops and backsplash, KitchenAid appliances, and a wine fridge. Recent improvements

Key facts

• Custom cabinetry
• Quartz countertops
• Upgraded electrical

Tags

• NEW RED OAK FLOORING
• CUSTOM CABINETRY
• QUARTZ COUNTERTOPS
• KITCHENAID APPLIANCES
• WINE FRIDGE
• UPGRADED ELECTRICAL

Property features AI

Exterior

• Parking: Driveway
• Utilities: Electricity connected (PSEG); Water connected; Trash collection (public); Cesspool sewer
• Home design: Single family residence; Two levels
• Construction: Built using advanced framing technique; Dormer attic; Full basement
• Exterior features: Shed(s); Not waterfront

Interior

• Kitchen: Dishwasher; Electric range / Oven / Range; Microwave; Refrigerator; Kitchen island; Open kitchen with eat-in area
• Bedrooms: Two levels (total rooms indicate multiple bedrooms)
• Flooring: Hardwood floors; Tile floors
• Bathrooms: 3 full bathrooms; 1 half bathroom; Full basement
• Heating & cooling: Electric heating; Heat pump; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Eat-in kitchen with island and open layout; Walk-in closets; Washer/dryer hookup; Wall of windows
• Laundry & utility: Washer; Dryer; Laundry room; Washer/dryer hookup; Oil water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $1.75M.

Deal economics

• At list price, monthly cash flow is $6k ($73k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($21k rent vs $1.75M).
• Recommended offer: $1.72M (1.5% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 6.4% in Remsenburg-Speonk — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Remsenburg-Speonk Union Free School District (suburban): math 60% / reading 40% proficiency, ranked #389 of 755 in NY (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Remsenburg-Speonk Elementary School (math 52% / reading 62%, grade C+, #842 of 2,108 statewide, top 43%, 122 students, 36% FRL) — zoned schools average 36% FRL vs 10% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 41 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).

Forward outlook

• In year one you build about $149k of equity ($12k loan paydown + $137k appreciation (7.8% local appreciation)).
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (7.8% appreciation + 3.0% rent growth), your $490k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$238k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($1.72M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $908k; list at $1.75M implies a 93% gain — meaningful room to come down on a strong offer.

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 $1,723,750 (1.5% below list)

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: 1.19% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.83%
• DSCR: 1.66
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $1,348,019
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16 Heather Dr	0.12mi	4/2.0 (+1)	1,925 (-4%)	8mo	$825,000	$429	76
79 Jagger Ln	0.52mi	3/2.0	2,041 (+2%)	0mo	$1,760,000	$862	72
21 Windwood Ct	0.48mi	4/2.5 (+1)	2,006 (+0%)	5mo	$1,350,000	$673	66
15 Windwood Ct	0.44mi	3/3.0	2,072 (+3%)	6mo	$1,485,000	$717	65
56 Nidzyn Ave	0.49mi	4/2.5 (+1)	2,033 (+2%)	7mo	$1,615,000	$794	62
138A Montauk Hwy	0.66mi	4/2.5 (+1)	1,995 (-0%)	2mo	$1,300,000	$652	60
24 Crestview Dr	0.13mi	3/2.5	1,780 (-11%)	18mo	$890,000	$500	58
40 Nidzyn Ave	0.40mi	4/3.0 (+1)	2,195 (+10%)	5mo	$1,195,000	$544	52
22 Nidzyn Ave	0.40mi	3/2.0	1,712 (-14%)	12mo	$805,000	$470	47
23 Sweetgrass Rd	0.69mi	3/2.0	1,732 (-14%)	22mo	$1,537,500	$888	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.2%
• Equity multiple: 3.21×
• Total profit: $1,084,538
• Equity at exit: $1,306,802

10-year hold

• IRR: 27.9%
• Equity multiple: 6.83×
• Total profit: $2,857,952
• Equity at exit: $2,572,613

Cash invested: $490,000 (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 11960

• Home prices YoY: 2.1%
• Active inventory: 41
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $20,749 medium
• Mortgage (P&I): −$9,177
• Tax from tax record: −$428 /mo · $5,140/yr
• Insurance: −$729
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,357
• Net cashflow: $6,057

Break-even live

Break-even rent $13,082

Max offer price $1,750,000

Occupancy floor 66%

Sensitivity live

Price	-10% $7,047	-5% $6,552	+0% $6,057	+5% $5,562	+10% $5,066
Rent	-10% $4,418	-5% $5,237	+0% $6,057	+5% $6,876	+10% $7,696
Rate	-1.0pp $6,938	-0.5pp $6,502	base $6,057	+0.5pp $5,603	+1.0pp $5,142

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: $437,500
• Closing costs: $52,500
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
70 Jagger Ln Westhampton, NY	3.0	2.0	1850	$20,000	$10.81	0d	1	0.53mi
134A Montauk Hwy Westhampton, NY	4.0	3.5	2478	$15,000	$6.05	0d	1	0.66mi
35 Halsey Rd Remsenburg, NY	3.0	2.0	2345	$10,000	$4.26	0d	1	0.75mi
70 Tanners Neck Ln Westhampton, NY	4.0	3.5	2100	$20,000	$9.52	44d	1	0.96mi
25 N Quarter Rd Westhampton, NY	4.0	3.0	2000	$30,000	$15.00	17d	1	1.02mi

Listing history 11 events

1. 2026-06-21
   days on market $1,750,000 Active 17 DOM
2. 2026-06-18
   days on market $1,750,000 Active 14 DOM
3. 2026-06-17
   days on market $1,750,000 Active 13 DOM
4. 2026-06-16
   days on market $1,750,000 Active 12 DOM
5. 2026-06-15
   days on market $1,750,000 Active 11 DOM
6. 2026-06-13
   days on market $1,750,000 Active 9 DOM
7. 2026-06-13
   days on market $1,750,000 Active 8 DOM
8. 2026-06-09
   days on market $1,750,000 Active 5 DOM
9. 2026-06-08
   days on market $1,750,000 Active 4 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $1,750,000 Active 3 DOM

ⓘ 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: $5,140 · $428/mo
• Projected year-2 tax: $17,358 · $1,446/mo
• Expected delta: +$12,217/yr (+$1,018/mo · 237.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥90°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $248,986
• − Mortgage interest: −$98,027
• − Property taxes: −$5,140
• − Insurance: −$8,750
• − Repairs & maintenance: −$19,919
• − Management: −$19,919
• − Depreciation: −$50,909
• Taxable income: $46,321
• Est. tax owed @ 24.0%: −$11,117
• After-tax cash flow: $61,565/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: Remsenburg-Speonk Union Free School District
• NCES district ID: 3624420
• Math proficiency: 60% ▲ 10.00%
• Reading proficiency: 40% ▼ -10.00%
• Median HH income: $79,972
• Composite: 47.7/100
• National rank: #4915
• State rank: #389 of 755 in NY

Livability — Remsenburg-Speonk

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Remsenburg-Speonk, NY
• City population: 1,346
• Population (ZIP): 1,037

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 (100%)
• Race & ethnicity: White 100%
• Common ancestry: Iranian 9% Romanian 8% Scotch-Irish 1%
• Foreign-born: 3%

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: ▲ 7.81%
• Current HPI: 386.454
• 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

+366.7% since first listed

8 events — show timeline

• 2026-06-04 Listed $1,750,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-17 Sold (Public Records) $907,500 Public Records
• 2025-09-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-07-28 Price Changed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-11 Price Changed $1,200,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-04 Listed $1,325,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-01 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2002-01-03 Sold (Public Records) $375,000 Public Records

Property tax history

+1.3%/yr

Latest (2022): $5,140 · +0.0% YoY. Source: county tax records.