92 Fuoco Rd

North Bellport, NY 11713

$549,000B

3 bd · 2.5 ba · 1,542 sqft · Built 1920 · SingleFamily · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $17,135/mo
• Mortgage (P&I): −$2,879
• Tax + insurance: −$820
• HOA: −$0
• Vac / Maint / Mgmt: −$3,598
• Net cashflow: $9,838/mo
• Annual: $118,052/yr
• Cap rate: 27.80%
• Cash-on-cash: 76.80%
• DSCR: 4.42
• 1% rule: 3.12%
• Cash to close: $153,720

Investor read

• This is a 3-bed/2.5-bath single-family listed at $549k.
• At list price, monthly cash flow is $10k ($118k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $549k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#842 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: crime C-, amenities F, commute F.
• South Country Central School District (suburban): math 50% / reading 44% proficiency, ranked #460 of 755 in NY (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kreamer Street Elementary School (math 24% / reading 24%, grade F, #1,846 of 2,108 statewide, top 91%, 290 students, 37% FRL); Bellport Middle School (math 64% / reading 54%, grade B, #161 of 729 statewide, top 24%, 838 students, 56% FRL); Bellport Senior High School (math 86% / reading 64%, grade A-, #630 of 1,100 statewide, top 57%, 1,392 students, 52% FRL).
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 57 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 9y ago 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 $280k; list at $549k implies a 96% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $154k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 27.8% vs local median 4.9% in North Bellport — 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.

Questions for listing agent

• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.