700 Edge Of Woods Rd · Water Mill, NY 11976

$2,995,000

3 bd · 2.0 ba · 1,536 sqft · SingleFamily public records · 595 Days on market

Built 1979 0.98 ac lot $1950/sqft · 64% above area Est $2016k · 49% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.3/10.0
• Rent growth +5.0/5.0
• Schools +4.8/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Discover your dream home at 700 Edge of Woods in Water Mill, now available for sale. This beautifully renovated 3-bedroom, 2-bathroom residence underwent a complete transformation in 2024. The home boasts a modern kitchen with brand-new appliances, two custom-designed bathrooms, and stylish new designs. The lower level has been thoughtfully reimagined to include a custom buildout with a versatile bonus room. The exterior of this 1,700+/- square foot home has also been meticulously upgraded. The decking has been completely redone and freshly painted, ensuring a seamless blend of indoor and outdoor living. This property is ready for you to move right in and start enjoying the Hamptons lifestyle. Set on a sprawling 0.98+/- acre lot, the grounds have been enhanced with a comprehensive landscaping update. This includes a new irrigation system, the planting of 300 Green Giant Arborvitaes, and 100 specimen shrubs, featuring stunning Hydrangeas. The expansive lot size and prime location make this property an excellent candidate for new construction, should you wish to build a custom home tailored to your preferences. Conveniently situated near the charming villages of Southampton, Sag Harbor, Bridgehampton, and Water Mill, this property offers the perfect Hamptons setting. Whether you choose to enjoy the existing home or envision a new custom build, 700 Edge of Woods is your gateway to a luxurious Hamptons paradise., Additional information: Interior Features:Lr/Dr

Key facts

• 0.98 acre lot
• Pool
• Built 1979

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $3.00M.

Deal economics

• At list price, monthly cash flow is $15k ($178k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($45k rent vs $3.00M).
• Recommended offer: $2.64M (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#410 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, commute A-; Watch: amenities F, cost of living F, housing F.
• Southampton Union Free School District (suburban): math 53% / reading 51% proficiency, ranked #293 of 590 in NY (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+30.1%/yr); 52 active listings in the ZIP; 1 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 $45,008/mo this rent would consume 300% of the median local household income ($180k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $279k of equity ($21k loan paydown + $258k appreciation (8.6% 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 (8.6% appreciation + 8.0% rent growth), your $839k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$447k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 595 days — a 12% lower offer ($2.64M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask is 20% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $1.40M; list at $3.00M implies a 114% 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 $2,635,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 595 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 1979 — 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. 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.
6. 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.
7. 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: 1.50% ✓
• Cap rate: 12.25%
• Cash-on-cash: 21.26%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (median comp): $2,016,057
• List price: $2,995,000
• Delta: 48.56%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
128 Water Mill Towd Rd	0.68mi	2/3.0 (-1)	1,356 (-12%)	14mo	$2,015,000	$1,486	28

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

Projected returns pro-forma

8.63% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 40.8%
• Equity multiple: 4.03×
• Total profit: $2,540,651
• Equity at exit: $2,405,152

10-year hold

• IRR: 38.1%
• Equity multiple: 9.68×
• Total profit: $7,279,076
• Equity at exit: $4,903,587

Cash invested: $838,600 (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 11976

• Home prices YoY: 1.6%
• Rents YoY: 30.1%
• Active inventory: 52
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $45,008 medium
• Mortgage (P&I): −$15,706
• Tax est. 1.5%: −$3,744 /mo · $44,925/yr
• Insurance: −$1,248
• HOA: −$0
• Vacancy / Maint / Mgmt: −$9,452
• Net cashflow: $14,859

Break-even live

Break-even rent $26,200

Max offer price $2,995,000

Occupancy floor 62%

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: $748,750
• Closing costs: $89,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
813 Edge of Woods Rd Water Mill, NY	3.0	2.0	1250	$6,500	$5.20	44d	1	0.33mi

Listing history 22 events

1. 2026-06-18
   days on market $2,995,000 Active 595 DOM
2. 2026-06-17
   days on market $2,995,000 Active 594 DOM
3. 2026-06-16
   days on market $2,995,000 Active 593 DOM
4. 2026-06-15
   days on market $2,995,000 Active 592 DOM
5. 2026-06-13
   days on market $2,995,000 Active 590 DOM
6. 2026-06-13
   days on market $2,995,000 Active 589 DOM
7. 2026-06-09
   days on market $2,995,000 Active 586 DOM
8. 2026-06-08
   days on market $2,995,000 Active 585 DOM
9. 2026-06-07
   days on market $2,995,000 Active 584 DOM
10. 2026-06-04
    days on market $2,995,000 Active 581 DOM
11. 2026-06-03
    days on market $2,995,000 Active 580 DOM
12. 2026-06-02
    days on market $2,995,000 Active 579 DOM
13. 2026-06-01
    days on market $2,995,000 Active 578 DOM
14. 2026-05-31
    days on market $2,995,000 Active 577 DOM
15. 2025-10-26
    status Active 1480-char remark

    Show marketing remark (1480 chars)

    Discover your dream home at 700 Edge of Woods in Water Mill, now available for sale. This beautifully renovated 3-bedroom, 2-bathroom residence underwent a complete transformation in 2024. The home boasts a modern kitchen with brand-new appliances, two custom-designed bathrooms, and stylish new designs. The lower level has been thoughtfully reimagined to include a custom buildout with a versatile bonus room. The exterior of this 1,700+/- square foot home has also been meticulously upgraded. The decking has been completely redone and freshly painted, ensuring a seamless blend of indoor and outdoor living. This property is ready for you to move right in and start enjoying the Hamptons lifestyle. Set on a sprawling 0.98+/- acre lot, the grounds have been enhanced with a comprehensive landscaping update. This includes a new irrigation system, the planting of 300 Green Giant Arborvitaes, and 100 specimen shrubs, featuring stunning Hydrangeas. The expansive lot size and prime location make this property an excellent candidate for new construction, should you wish to build a custom home tailored to your preferences. Conveniently situated near the charming villages of Southampton, Sag Harbor, Bridgehampton, and Water Mill, this property offers the perfect Hamptons setting. Whether you choose to enjoy the existing home or envision a new custom build, 700 Edge of Woods is your gateway to a luxurious Hamptons paradise., Additional information: Interior Features:Lr/Dr

16. 2025-10-19
    historical 1480-char remark

    Show marketing remark (1480 chars)

    Discover your dream home at 700 Edge of Woods in Water Mill, now available for sale. This beautifully renovated 3-bedroom, 2-bathroom residence underwent a complete transformation in 2024. The home boasts a modern kitchen with brand-new appliances, two custom-designed bathrooms, and stylish new designs. The lower level has been thoughtfully reimagined to include a custom buildout with a versatile bonus room. The exterior of this 1,700+/- square foot home has also been meticulously upgraded. The decking has been completely redone and freshly painted, ensuring a seamless blend of indoor and outdoor living. This property is ready for you to move right in and start enjoying the Hamptons lifestyle. Set on a sprawling 0.98+/- acre lot, the grounds have been enhanced with a comprehensive landscaping update. This includes a new irrigation system, the planting of 300 Green Giant Arborvitaes, and 100 specimen shrubs, featuring stunning Hydrangeas. The expansive lot size and prime location make this property an excellent candidate for new construction, should you wish to build a custom home tailored to your preferences. Conveniently situated near the charming villages of Southampton, Sag Harbor, Bridgehampton, and Water Mill, this property offers the perfect Hamptons setting. Whether you choose to enjoy the existing home or envision a new custom build, 700 Edge of Woods is your gateway to a luxurious Hamptons paradise., Additional information: Interior Features:Lr/Dr

17. 2025-08-31
    price $2,995,000 1480-char remark

    Show marketing remark (1480 chars)

    Discover your dream home at 700 Edge of Woods in Water Mill, now available for sale. This beautifully renovated 3-bedroom, 2-bathroom residence underwent a complete transformation in 2024. The home boasts a modern kitchen with brand-new appliances, two custom-designed bathrooms, and stylish new designs. The lower level has been thoughtfully reimagined to include a custom buildout with a versatile bonus room. The exterior of this 1,700+/- square foot home has also been meticulously upgraded. The decking has been completely redone and freshly painted, ensuring a seamless blend of indoor and outdoor living. This property is ready for you to move right in and start enjoying the Hamptons lifestyle. Set on a sprawling 0.98+/- acre lot, the grounds have been enhanced with a comprehensive landscaping update. This includes a new irrigation system, the planting of 300 Green Giant Arborvitaes, and 100 specimen shrubs, featuring stunning Hydrangeas. The expansive lot size and prime location make this property an excellent candidate for new construction, should you wish to build a custom home tailored to your preferences. Conveniently situated near the charming villages of Southampton, Sag Harbor, Bridgehampton, and Water Mill, this property offers the perfect Hamptons setting. Whether you choose to enjoy the existing home or envision a new custom build, 700 Edge of Woods is your gateway to a luxurious Hamptons paradise., Additional information: Interior Features:Lr/Dr

18. 2025-01-02
    price $2,695,000 1480-char remark

    Show marketing remark (1480 chars)

    Discover your dream home at 700 Edge of Woods in Water Mill, now available for sale. This beautifully renovated 3-bedroom, 2-bathroom residence underwent a complete transformation in 2024. The home boasts a modern kitchen with brand-new appliances, two custom-designed bathrooms, and stylish new designs. The lower level has been thoughtfully reimagined to include a custom buildout with a versatile bonus room. The exterior of this 1,700+/- square foot home has also been meticulously upgraded. The decking has been completely redone and freshly painted, ensuring a seamless blend of indoor and outdoor living. This property is ready for you to move right in and start enjoying the Hamptons lifestyle. Set on a sprawling 0.98+/- acre lot, the grounds have been enhanced with a comprehensive landscaping update. This includes a new irrigation system, the planting of 300 Green Giant Arborvitaes, and 100 specimen shrubs, featuring stunning Hydrangeas. The expansive lot size and prime location make this property an excellent candidate for new construction, should you wish to build a custom home tailored to your preferences. Conveniently situated near the charming villages of Southampton, Sag Harbor, Bridgehampton, and Water Mill, this property offers the perfect Hamptons setting. Whether you choose to enjoy the existing home or envision a new custom build, 700 Edge of Woods is your gateway to a luxurious Hamptons paradise., Additional information: Interior Features:Lr/Dr

19. 2024-10-25
    listed $2,495,000 Active 1480-char remark

    Show marketing remark (1480 chars)

    Discover your dream home at 700 Edge of Woods in Water Mill, now available for sale. This beautifully renovated 3-bedroom, 2-bathroom residence underwent a complete transformation in 2024. The home boasts a modern kitchen with brand-new appliances, two custom-designed bathrooms, and stylish new designs. The lower level has been thoughtfully reimagined to include a custom buildout with a versatile bonus room. The exterior of this 1,700+/- square foot home has also been meticulously upgraded. The decking has been completely redone and freshly painted, ensuring a seamless blend of indoor and outdoor living. This property is ready for you to move right in and start enjoying the Hamptons lifestyle. Set on a sprawling 0.98+/- acre lot, the grounds have been enhanced with a comprehensive landscaping update. This includes a new irrigation system, the planting of 300 Green Giant Arborvitaes, and 100 specimen shrubs, featuring stunning Hydrangeas. The expansive lot size and prime location make this property an excellent candidate for new construction, should you wish to build a custom home tailored to your preferences. Conveniently situated near the charming villages of Southampton, Sag Harbor, Bridgehampton, and Water Mill, this property offers the perfect Hamptons setting. Whether you choose to enjoy the existing home or envision a new custom build, 700 Edge of Woods is your gateway to a luxurious Hamptons paradise., Additional information: Interior Features:Lr/Dr

20. 2024-10-18
    historical $2,495,000 1480-char remark

    Show marketing remark (1480 chars)

    Discover your dream home at 700 Edge of Woods in Water Mill, now available for sale. This beautifully renovated 3-bedroom, 2-bathroom residence underwent a complete transformation in 2024. The home boasts a modern kitchen with brand-new appliances, two custom-designed bathrooms, and stylish new designs. The lower level has been thoughtfully reimagined to include a custom buildout with a versatile bonus room. The exterior of this 1,700+/- square foot home has also been meticulously upgraded. The decking has been completely redone and freshly painted, ensuring a seamless blend of indoor and outdoor living. This property is ready for you to move right in and start enjoying the Hamptons lifestyle. Set on a sprawling 0.98+/- acre lot, the grounds have been enhanced with a comprehensive landscaping update. This includes a new irrigation system, the planting of 300 Green Giant Arborvitaes, and 100 specimen shrubs, featuring stunning Hydrangeas. The expansive lot size and prime location make this property an excellent candidate for new construction, should you wish to build a custom home tailored to your preferences. Conveniently situated near the charming villages of Southampton, Sag Harbor, Bridgehampton, and Water Mill, this property offers the perfect Hamptons setting. Whether you choose to enjoy the existing home or envision a new custom build, 700 Edge of Woods is your gateway to a luxurious Hamptons paradise., Additional information: Interior Features:Lr/Dr

21. 2021-12-13
    soldstatus $1,400,000
22. 2021-11-24
    soldstatus $1,400,000

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥90°F today · 18 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: $540,099
• − Mortgage interest: −$167,767
• − Property taxes: −$44,925
• − Insurance: −$14,975
• − Repairs & maintenance: −$43,208
• − Management: −$43,208
• − Depreciation: −$87,127
• Taxable income: $138,889
• Est. tax owed @ 24.0%: −$33,333
• After-tax cash flow: $144,971/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: Southampton Union Free School District
• NCES district ID: 3627540
• Math proficiency: 53% ▬ 0.00%
• Reading proficiency: 51% ▲ 4.00%
• Median HH income: $85,977
• Composite: 47.9/100
• National rank: #2213
• State rank: #293 of 590 in NY

Livability — Water Mill

• Score: 71/100
• State rank: #410
• US rank: #7088

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Water Mill, NY
• County: Suffolk County · 679,920 people
• City population: 2,952
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 2,952
• Household income: $180,250
• Rent vs Own: 6.8% rent · 93.2% own

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 9% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 1% Salvadoran 2%
• Common ancestry: Romanian 16% Scotch-Irish 7% Italian 3%
• Foreign-born: 11% · Canada, China
• Languages at home: 86% English-only · Spanish 7% Other Indo-European 4% German/W. Germanic 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: ▲ 8.63%
• Current HPI: 540.0967
• Rent YoY: ▲ 30.05%
• 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

+113.9% since first listed

8 events — show timeline

• 2025-10-26 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-10-19 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-08-31 Price Changed $2,995,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-02 Price Changed $2,695,000 OneKey® MLS as Distributed by MLS Grid
• 2024-10-25 Listed $2,495,000 OneKey® MLS as Distributed by MLS Grid
• 2024-10-18 Coming Soon $2,495,000 OneKey® MLS as Distributed by MLS Grid
• 2021-12-13 Sold (Public Records) $1,400,000 Public Records
• 2021-11-24 Sold (Public Records) $1,400,000 Public Records

Property tax history

-0.1%/yr

Latest (2024): $4,531 · +0.0% YoY. Source: county tax records.