63 Fairharbor Dr Unit 63 (Building 4) · Patchogue, NY 11772

$235,900

1 bd · 1.0 ba · 675 sqft · Condo · 52 Days on market

Built 1971 Good condition $349/sqft · 17% below area Est $285k · 17% under ↓ 9% since listing

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Schools +6.7/10.0
• Cash flow +5.6/30.0
• 1% rule +5.3/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.8/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Discover the perfect blend of relaxation and recreation in this beautifully updated 1-bedroom, 1-bathroom co-op located in the highly sought-after Fair Harbor community of Patchogue. Whether you're a weekend warrior or looking for a year-round retreat, this unit offers a turnkey lifestyle in one of Long Island's most vibrant neighborhoods. Fair Harbor is more than just a place to live; it's a lifestyle. Residents enjoy premium amenities tailored for those who love the Great South Bay: Water Access: On-site paddleboard and kayak racks make hitting the water a breeze. Boater's Dream: Private boat slips are available (at an additional charge), providing seamless access to the bay. Social &

Key facts

• Built 1971
• Listed 52 days

Property features AI

Finance

• HOA & community: Association fees include cable TV, heat, hot water, and internet

Exterior

• Parking: Parking lot
• Security: Gated community
• Utilities: Public sewer; Electricity available; Natural gas available; Phone available; Private trash collection
• Home design: Stock cooperative property
• Construction: Brick construction
• Exterior features: Boat slip; Dock; Mailbox; Landscaped; Level lot; Near public transit; Near shops

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator
• Bedrooms: 2nd floor entry level
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heat; Wall/window cooling units
• Interior features: Eat-in kitchen; Deck; No basement
• Laundry & utility: Laundry: Other

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $236k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-562 ($-7k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $236k).
• Recommended offer: $229k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#108 in NY, #1,800 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities D-, cost of living F.
• Patchogue-Medford Union Free School District (suburban): math 83% / reading 69% proficiency, ranked #73 of 590 in NY (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: River Elementary School (math 75%, 300 students, 47% FRL); South Ocean Middle School (math 75%, 599 students, 57% FRL); Patchogue-Medford High School (math 89% / reading 67%, grade A-, #577 of 1,100 statewide, top 52%, 2,443 students, 53% FRL) — zoned schools average 52% FRL vs 35% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.1%/yr); 216 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $2k of loan paydown is wiped out by about $7k 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 52 days — a 3% lower offer ($229k) 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 32% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $228,823 (3.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 3.77%
• Cash-on-cash: -9.00%
• DSCR: 0.60
• GRM: 8.1

CMA / ARV

• ARV (median comp): $284,907
• List price: $235,900
• Delta: -17.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.07% rent growth · sell at horizon

5-year hold

• IRR: -30.4%
• Equity multiple: -0.03×
• Total profit: $-68,311
• Equity at exit: $35,173

10-year hold

• IRR: -20.4%
• Equity multiple: -0.23×
• Total profit: $-81,284
• Equity at exit: $20,396

Cash invested: $66,052 (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 11772

• Rents YoY: 5.1%
• Active inventory: 216
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,420 high
• Mortgage (P&I): −$1,237
• Tax est. 1.5%: −$295 /mo · $3,538/yr
• Insurance: −$98
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA est. from 3 same-building comps: −$777
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $-562

Break-even live

Break-even rent $3,131

Max offer price $154,601

Occupancy floor —

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: $58,975
• Closing costs: $7,077
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
44 Mainsail Dr Unit 2-44 Patchogue, NY	1.0	1.0	676	$2,450	$3.62	44d	1	0.13mi
28 Mainsail Dr Unit 1-28 Patchogue, NY	1.0	1.0	676	$2,450	$3.62	44d	1	0.14mi
16 Mainsail Dr Unit 1-16 Patchogue, NY	1.0	1.0	676	$2,450	$3.62	24d	1	0.15mi
10 Mainsail Dr Unit 1-10 Patchogue, NY	1.0	1.0	676	$2,450	$3.62	44d	1	0.15mi
58 Midship Ln Unit 2-58 Patchogue, NY	1.0	1.0	676	$2,450	$3.62	44d	1	0.16mi
234 River Ave Patchogue, NY	2.0	1.0	687	$2,390	$3.48	1d	1	0.32mi
40 Amity St Patchogue, NY	1.0	1.0	457	$2,200	$4.81	44d	1	0.65mi
90 E Main St Unit 2 Patchogue, NY	1.0	1.0	750	$2,300	$3.07	44d	1	1.04mi
1 Village Green Way Patchogue, NY	1.0–2.0	1.0–2.0	947	$2,877	$3.04	1d	7	1.05mi
99 Waverly Ave Patchogue, NY	1.0–2.0	1.0–2.0	928	$2,381	$2.57	1d	9	1.12mi
135 Terrace Rd Unit T02-135 Bayport, NY	—	1.0	595	$2,030	$3.41	22d	1	1.12mi
332 Terrace Rd Unit T08332 Bayport, NY	1.0	1.0	630	$2,415	$3.83	44d	1	1.13mi
420 Terrace Rd Unit T10-420 Bayport, NY	1.0	1.0	630	$2,415	$3.83	22d	1	1.15mi
821 Imperial Way Unit I8-821 Bayport, NY	1.0	1.0	715	$2,455	$3.43	22d	1	1.15mi
116 Waverly Ave Unit 7 Patchogue, NY	1.0	1.0	722	$2,795	$3.87	44d	1	1.16mi
116 Waverly Ave Unit 8 Patchogue, NY	1.0	1.0	730	$2,895	$3.97	44d	1	1.16mi
100 Terrace Rd Bayport, NY	1.0–2.0	1.0–2.0	792	$2,415	$3.05	1d	1	1.17mi
830 Terrace Rd Unit I8-830 Bayport, NY	1.0	1.0	715	$2,465	$3.45	22d	1	1.23mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $235,900 Active 52 DOM
2. 2026-06-17
   days on market $235,900 Active 51 DOM
3. 2026-06-16
   days on market $235,900 Active 50 DOM
4. 2026-06-15
   days on market $235,900 Active 49 DOM
5. 2026-06-13
   days on market $235,900 Active 47 DOM
6. 2026-06-13
   days on market $235,900 Active 46 DOM
7. 2026-06-09
   days on market $235,900 Active 43 DOM
8. 2026-06-08
   days on market $235,900 Active 42 DOM
9. 2026-06-07
   days on market $235,900 Active 41 DOM
10. 2026-06-04
    days on market $235,900 Active 38 DOM
11. 2026-06-03
    days on market $235,900 Active 37 DOM
12. 2026-06-02
    days on market $235,900 Active 36 DOM
13. 2026-06-01
    days on market $235,900 Active 35 DOM
14. 2026-05-31
    days on market $235,900 Active 34 DOM
15. 2026-04-20
    listed $235,900 Active 1315-char remark
16. 2026-04-13
    historical
17. 2026-03-24
    price $244,900
18. 2026-02-02
    price $254,900
19. 2025-09-22
    listed $259,900 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 7/10 Severe FEMA zone X (unshaded) · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°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: $29,041
• − Mortgage interest: −$13,214
• − Property taxes: −$3,538
• − Insurance: −$1,977
• − Repairs & maintenance: −$2,323
• − Management: −$2,323
• − HOA: −$9,324
• − Depreciation: −$6,863
• Taxable loss: −$10,522
• Est. tax savings @ 24.0%: +$2,525
• After-tax cash flow: $-4,217/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

This 1-bedroom, 1-bathroom co-op in Patchogue's Fair Harbor community is in good condition with some minor repairs needed. Upgrading the kitchen and bathroom, and replacing the carpet can significantly increase its value.

Repairs flagged

• Minor Kitchen cabinets — Slight wear and tear visible.
• Minor Kitchen countertops — Slight wear and tear visible.
• Minor Bathroom walls — Some discoloration visible.
• Minor Living room carpet — Worn appearance visible.

Value-add opportunities

• Both Paint interior walls — Fresh paint can enhance the overall appearance and value of the property.
• Both Replace kitchen cabinets and countertops — New cabinets and countertops can significantly improve the functionality and aesthetic appeal of the kitchen.
• Both Replace bathroom fixtures — Upgrading the bathroom fixtures can enhance the overall appearance and functionality of the bathroom.
• Both Replace living room carpet — New carpet can improve the comfort and appearance of the living room, making it more appealing to potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Slight wear and tear visible.	Minor	$500–3,000
Kitchen countertops · Slight wear and tear visible.	Minor	$500–3,000
Bathroom walls · Some discoloration visible.	Minor	$500–3,000
Living room carpet · Worn appearance visible.	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can enhance the overall appearance and value of the property. ↑
• Both Replace kitchen cabinets and countertops — New cabinets and countertops can significantly improve the functionality and aesthetic appeal of the kitchen. ↑
• Both Replace bathroom fixtures — Upgrading the bathroom fixtures can enhance the overall appearance and functionality of the bathroom. ↑
• Both Replace living room carpet — New carpet can improve the comfort and appearance of the living room, making it more appealing to potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Patchogue-Medford Union Free School District
• NCES district ID: 3622470
• Math proficiency: 83% ▲ 27.00%
• Reading proficiency: 69% ▲ 15.00%
• Median HH income: $75,120
• Composite: 66.81/100
• National rank: #405
• State rank: #73 of 590 in NY

Livability — Patchogue

• Score: 80/100
• State rank: #108
• US rank: #1800

Category grades

Amenities D- 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: Patchogue, NY
• County: Suffolk County · 679,920 people
• City population: 45,023
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 45,023
• Household income: $105,245
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 1595.0

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 24% Two or more races 8% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 15% · Canada, Jamaica, China
• Languages at home: 78% English-only · Spanish 15% Other Asian/Pacific 2% Other Indo-European 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: ▼ -578.02%
• Current HPI: 375.1174
• Rent YoY: ▲ 5.07%
• 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

-9.2% since first listed

5 events — show timeline

• 2026-04-20 Listed $235,900 OneKey® MLS as Distributed by MLS Grid
• 2026-04-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-03-24 Price Changed $244,900 OneKey® MLS as Distributed by MLS Grid
• 2026-02-02 Price Changed $254,900 OneKey® MLS as Distributed by MLS Grid
• 2025-09-22 Listed $259,900 OneKey® MLS as Distributed by MLS Grid