514 Pantigo Rd #22 · East Hampton North, NY 11937

$999,999

2 bd · 2.0 ba · 1,400 sqft · Condo · 65 Days on market

Built 1972 Good condition $941/mo HOA

---

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
• Schools +5.8/10.0
• Rent growth +5.0/5.0
• Condition / age +4.0/5.0
• Livability +3.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Light-filled and inviting, this upper-level residence at East Hampton Mews offers effortless, low-maintenance co-op living south of the highway, ideally positioned between East Hampton and Amagansett. Thoughtfully designed with a relaxed Hamptons aesthetic, the two-bedroom, two-bath unit features cathedral ceilings, an open living area with a fireplace, and a seamless flow between the kitchen, dining, and living spaces. A spacious private deck extends the living area outdoors, providing an ideal setting for dining and lounging while overlooking the beautifully landscaped grounds. The primary suite, guest bedroom, and additional full bath complete the main level, while an upstairs loft offers flexible space for a home office, library, or additional living area. Set within a meticulously maintained community, residents enjoy access to a heated pool surrounded by lush, park-like landscaping. Just minutes from ocean and bay beaches, as well as the shops and restaurants of East Hampton and Amagansett, this is an ideal year-round residence or effortless Hamptons retreat. This listing may include images that have been digitally altered or virtually staged. Original, unedited images are available upon request.

Key facts

• $941 HOA
• Community pool
• Built 1972

🏢 Co-op / cooperative unit. The $999,999 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $1000k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $5k ($59k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $1000k).
• Recommended offer: $940k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#1,013 in NY) — a working-class tenant base; expect higher turnover. Strengths: crime A+, employment A+; Watch: schools D, amenities F, commute F.
• East Hampton Union Free School District (town): math 62% / reading 66% proficiency, ranked #159 of 590 in NY (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+12.3%/yr); 135 active listings in the ZIP; 2 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 $16,153/mo this rent would consume 149% of the median local household income ($130k/yr) (locally 896% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $30k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $280k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($940k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $939,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 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 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. 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: 1.62% ✓
• Cap rate: 12.18%
• Cash-on-cash: 21.04%
• DSCR: 1.94
• GRM: 5.2

CMA / ARV

• ARV (median comp): $778,764
• List price: $999,999
• Delta: 28.41%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 1.85×
• Total profit: $236,795
• Equity at exit: $149,103

10-year hold

• IRR: 31.2%
• Equity multiple: 4.57×
• Total profit: $1,000,650
• Equity at exit: $86,462

Cash invested: $280,000 (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 11937

• Rents YoY: 12.3%
• Active inventory: 135
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $16,153 medium
• Mortgage (P&I): −$5,244
• Tax est. 1.5%: −$1,250 /mo · $15,000/yr
• Insurance: −$417
• HOA: −$941
• Vacancy / Maint / Mgmt: −$3,392
• Net cashflow: $4,909

Break-even live

Break-even rent $9,939

Max offer price $999,999

Occupancy floor 65%

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: $250,000
• Closing costs: $30,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
493 Abrahams Path Amagansett, NY	3.0	2.0	1650	$49,000	$29.70	21d	1	0.43mi
96 Town Ln East Hampton, NY	3.0	2.0	1800	$25,000	$13.89	24d	1	0.78mi

HOA detail condo

• Monthly dues: $941 · $11,292/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $999,999 Active 65 DOM
2. 2026-06-17
   days on market $999,999 Active 64 DOM
3. 2026-06-16
   days on market $999,999 Active 63 DOM
4. 2026-06-15
   days on market $999,999 Active 62 DOM
5. 2026-06-13
   days on market $999,999 Active 60 DOM
6. 2026-06-13
   days on market $999,999 Active 59 DOM
7. 2026-06-09
   days on market $999,999 Active 56 DOM
8. 2026-06-08
   days on market $999,999 Active 55 DOM
9. 2026-06-07
   days on market $999,999 Active 54 DOM
10. 2026-06-04
    days on market $999,999 Active 51 DOM
11. 2026-06-03
    days on market $999,999 Active 50 DOM
12. 2026-06-02
    days on market $999,999 Active 49 DOM
13. 2026-06-01
    days on market $999,999 Active 48 DOM
14. 2026-05-31
    days on market $999,999 Active 47 DOM
15. 2026-04-15
    listed $1,150,000 Active 1221-char remark

    Show marketing remark (1221 chars)

    Light-filled and inviting, this upper-level residence at East Hampton Mews offers effortless, low-maintenance co-op living south of the highway, ideally positioned between East Hampton and Amagansett. Thoughtfully designed with a relaxed Hamptons aesthetic, the two-bedroom, two-bath unit features cathedral ceilings, an open living area with a fireplace, and a seamless flow between the kitchen, dining, and living spaces. A spacious private deck extends the living area outdoors, providing an ideal setting for dining and lounging while overlooking the beautifully landscaped grounds. The primary suite, guest bedroom, and additional full bath complete the main level, while an upstairs loft offers flexible space for a home office, library, or additional living area. Set within a meticulously maintained community, residents enjoy access to a heated pool surrounded by lush, park-like landscaping. Just minutes from ocean and bay beaches, as well as the shops and restaurants of East Hampton and Amagansett, this is an ideal year-round residence or effortless Hamptons retreat. This listing may include images that have been digitally altered or virtually staged. Original, unedited images are available upon request.

16. 2026-04-04
    historical $1,150,000 1221-char remark

    Show marketing remark (1221 chars)

    Light-filled and inviting, this upper-level residence at East Hampton Mews offers effortless, low-maintenance co-op living south of the highway, ideally positioned between East Hampton and Amagansett. Thoughtfully designed with a relaxed Hamptons aesthetic, the two-bedroom, two-bath unit features cathedral ceilings, an open living area with a fireplace, and a seamless flow between the kitchen, dining, and living spaces. A spacious private deck extends the living area outdoors, providing an ideal setting for dining and lounging while overlooking the beautifully landscaped grounds. The primary suite, guest bedroom, and additional full bath complete the main level, while an upstairs loft offers flexible space for a home office, library, or additional living area. Set within a meticulously maintained community, residents enjoy access to a heated pool surrounded by lush, park-like landscaping. Just minutes from ocean and bay beaches, as well as the shops and restaurants of East Hampton and Amagansett, this is an ideal year-round residence or effortless Hamptons retreat. This listing may include images that have been digitally altered or virtually staged. Original, unedited images are available upon request.

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥89°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $193,833
• − Mortgage interest: −$56,015
• − Property taxes: −$15,000
• − Insurance: −$5,000
• − Repairs & maintenance: −$15,507
• − Management: −$15,507
• − HOA: −$11,292
• − Depreciation: −$29,091
• Taxable income: $46,422
• Est. tax owed @ 24.0%: −$11,141
• After-tax cash flow: $47,766/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 upper-level residence offers a good condition with a relaxed Hamptons aesthetic. It is move-in ready with minor cosmetic updates needed for optimal resale and rental value.

Value-add opportunities

• Both Paint the exterior — Enhances curb appeal and resale value
• Both Clean the windows — Improves natural light and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior — Enhances curb appeal and resale value ↑
• Both Clean the windows — Improves natural light and aesthetics ↑

ⓘ 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: East Hampton Union Free School District
• NCES district ID: 3609660
• Math proficiency: 62% ▼ -5.00%
• Reading proficiency: 66% ▲ 2.00%
• Median HH income: $86,309
• Composite: 57.85/100
• National rank: #1046
• State rank: #159 of 590 in NY

Livability — East Hampton North

• Score: 59/100
• State rank: #1013
• US rank: #19706

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Hampton North, NY
• County: Suffolk County · 679,920 people
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 21,882
• Household income: $129,883
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 896.0

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: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 32% Two or more races 23% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 5% Scotch-Irish 4% Italian 2%
• Foreign-born: 25% · Canada, Guatemala, Jamaica
• Languages at home: 68% English-only · Spanish 28% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -285.21%
• Current HPI: 444.1499
• Rent YoY: ▲ 12.28%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-15 Listed $1,150,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-04 Coming Soon $1,150,000 OneKey® MLS as Distributed by MLS Grid