14 Campus Dr

Farmingville, NY 11738

$525,000B-

4 bd · 2.0 ba · 1,320 sqft · Built 1968 · SingleFamily · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,799/mo
• Mortgage (P&I): −$2,753
• Tax + insurance: −$775
• HOA: −$0
• Vac / Maint / Mgmt: −$1,218
• Net cashflow: $1,053/mo
• Annual: $12,632/yr
• Cap rate: 8.70%
• Cash-on-cash: 8.59%
• DSCR: 1.38
• 1% rule: 1.10%
• Cash to close: $147,000

Investor read

• This is a 4-bed/2.0-bath single-family listed at $525k.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $525k).
• It's been on market 20 days — a 2% lower offer ($517k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $517k (1.5% below list) — sets the bar for market timing.
• 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 67/100 on livability (#592 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety B; Watch: amenities F, commute F, cost of living F.
• Sachem Central School District (suburban): math 69% / reading 76% proficiency, ranked #86 of 590 in NY (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Chippewa Elementary School (math 47% / reading 62%, grade C, #908 of 2,108 statewide, top 46%, 515 students, 25% FRL); Sagamore Middle School (math 44% / reading 57%, grade C, #259 of 729 statewide, top 36%, 933 students, 30% FRL); Sachem High School East (math 94% / reading 93%, grade A+, #131 of 1,100 statewide, top 13%, 2,082 students, 28% FRL).
• Market conditions: 68 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• Climate carrying-cost: major wind risk, 69% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.7% vs local median 4.3% in Farmingville — 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 1968 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.