Is 281 Dune Rd Unit 17B in Westhampton Beach, NY a good investment?

CashFlowRE grades it A- with a 19.6% cap rate and $5,519/mo modeled cash flow at a $499,000 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 281 Dune Rd Unit 17B?

The modeled cap rate is 19.6% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $12,405/month, from CashFlowRE's rent model.

A- Composite 84.7

Why this score? — see what drove the A- 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 +10.0/10.0
ARV discount +9.3/15.0
Schools +7.4/10.0
Livability +3.2/5.0
Rent growth +2.5/5.0
Condition / age +2.2/5.0

$499,000

281 Dune Rd Unit 17B · Westhampton Beach, NY 11978

1 bd · 1.0 ba · 600 sqft · Condo · 106 Days on market

Built 1963 Fair condition $832/sqft · at area comps Est $520k · at est. $833/mo HOA · 7% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks MLS

Sale May Be Subject To Term & Conditions Of An Offering Plan. Enjoy This Newly Listed Oceanfront Co-Op In One Of The Best Maintained Buildings On The Ocean. Completely Renovated With Granite Kitchen, Hardwood Floors, And Marble Bathroom. The Views Of The Ocean And The Sunsets Over The Bay Are Breathtaking!!! Enjoy The Amenities Of The Hamptons Lifestyle Without The Price!

Key facts

Private deck
Ocean access
Beachfront pool

What this means for you Summary

Snapshot

This is a 1-bed/1.0-bath condo listed at $499k. Condition is rated fair.

Deal economics

At list price, monthly cash flow is $6k ($66k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($12k rent vs $499k).
Recommended offer: $454k (9.0% below list) — sets the bar for market timing.
Cap rate 19.6% vs local median 8.8% in Westhampton Beach — 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.

Location & tenants

Location reads 64/100 on livability (#740 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
Westhampton Beach Union Free School District (suburban): math 72% / reading 75% proficiency, ranked #81 of 590 in NY (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical.
Zoned schools: Westhampton Beach Elementary School (math 67% / reading 67%, grade B+, #525 of 2,108 statewide, top 27%, 356 students, 43% FRL); Westhampton Middle School (math 61% / reading 63%, grade B+, #136 of 729 statewide, top 20%, 434 students, 26% FRL); Westhampton Beach Senior High School (math 90% / reading 96%, grade A+, #147 of 1,100 statewide, top 14%, 964 students, 24% FRL).
Market conditions: 146 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 118d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).

Forward outlook

In year one you build about $53k of equity ($3k loan paydown + $50k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $140k cash investment doubles in ~2 years — after that, you're playing with house money.
By year 2, paydown + projected appreciation supports a ~$86k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

It's been on market 106 days — a 9% lower offer ($454k) is reasonable based on typical stale-listing flexibility.
5 sale attempts since 12y ago; this cycle's ask has dropped $46k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
Current owner paid $328k; list at $499k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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 $454,090 (9.0% below list)

Questions for the listing agent

It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
Schools are A-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 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: 2.49% ✓
Cap rate: 19.56%
Cash-on-cash: 47.40%
DSCR: 3.11
GRM: 3.4

CMA / ARV

ARV (median comp): $520,353
List price: $499,000
Delta: -4.10%
Verdict: FAIR
Comps: 4 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
281 Dune Rd Unit 2A	0.01mi	1/1.0	500 (-17%)	4mo	$480,000	$960	72
35 Library Ave Unit 6J	1.07mi	1/1.0	600 (0%)	2mo	$583,000	$972	64
274 Dune Rd #11	0.07mi	1/1.0	500 (-17%)	11mo	$425,000	$850	62
35 Library Ave Unit 8X	1.08mi	1/1.0	600 (0%)	13mo	$675,000	$1,125	54
473 Dune Rd Unit 17B	1.28mi	1/1.5	550 (-8%)	13mo	$725,000	$1,318	38
473 Dune Rd Unit 6B	1.28mi	1/1.5	550 (-8%)	14mo	$735,000	$1,336	37
459 Dune Rd Unit 7B	1.19mi	1/1.0	650 (+8%)	17mo	$478,000	$735	37
459 Dune Rd Unit 3B	1.19mi	1/1.0	650 (+8%)	27mo	$505,000	$777	31
473 Dune Rd Unit 5B	1.27mi	1/1.0	535 (-11%)	23mo	$750,000	$1,402	27
58 Library Ave #2	1.08mi	1/1.0	460 (-23%)	18mo	$489,000	$1,063	25
58 Library Ave #5	1.08mi	1/1.0	460 (-23%)	22mo	$449,000	$976	22
58 Library Ave	1.08mi	2/1.5 (+1)	675 (+12%)	30mo	$675,000	$1,000	17

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

IRR: 61.4%
Equity multiple: 5.47×
Total profit: $623,960
Equity at exit: $449,539

10-year hold

IRR: 55.0%
Equity multiple: 12.18×
Total profit: $1,562,438
Equity at exit: $969,447

Cash invested: $139,720 (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 →

Active competition Active MLS

For sale now: 0 active · 1 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 11978

Home prices YoY: 2.9%
Active inventory: 146
Price-to-rent: 3.4×

Monthly cashflow live

Estimated rent: $12,405 medium interval (Pro) →
Mortgage (P&I): −$2,617
Tax est. 1.5%: −$624 /mo · $7,485/yr
Insurance: −$208
HOA: −$833
Lot rent: −$0
Vacancy / Maint / Mgmt: −$2,605
Net cashflow: $5,519

Break-even live

Break-even rent $5,420

Max offer price $499,000

Occupancy floor 51%

Sensitivity live

Price	-10% $5,864	-5% $5,691	+0% $5,519	+5% $5,346	+10% $5,174
Rent	-10% $4,539	-5% $5,029	+0% $5,519	+5% $6,009	+10% $6,499
Rate	-1.0pp $5,770	-0.5pp $5,646	base $5,519	+0.5pp $5,389	+1.0pp $5,258

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: $124,750
Closing costs: $14,970
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
274 Dune Rd #6 Westhampton Beach, NY	1.0	1.0	565	$5,000	$8.85	139d	1	0.09mi
274 Dune Rd #19 Westhampton Beach, NY	1.0	1.0	684	$12,000	$17.54	106d	1	0.09mi
274 Dune Rd Unit 9 Westhampton Beach, NY	1.0	1.0	506	$10,500	$20.75	117d	1	0.09mi

Property features AI

Finance

HOA & community: Community association (La Coquille)Association amenities include concierge, landscaping, grounds maintenance, parking, pool, receiving room, and trash serviceAssociation fee of $2,500 paid quarterlyAssociation fee covers common area maintenance, exterior maintenance, pool service, snow removal, trash, and water

Exterior

Parking: Assigned parking space in parking lot (1 space)No carport
Utilities: Public sewerElectricity connectedWater connected
Home design: Stock cooperative
Construction: Other construction materialsOther foundation
Exterior features: Community poolIn-ground outdoor poolOutdoor spaceBicycle roomWalk-up accessWaterfront

Interior

Kitchen: DishwasherOvenRefrigeratorFreezer
Bedrooms: Entry level: 2
Bathrooms: 1 full bathroom
Heating & cooling: Electric heatingElectric cooling
Interior features: Kitchen islandOpen floor planOpen kitchenPrimary bathroomStorageCovered patio/deck
Laundry & utility: Laundry in common area

HOA detail $833/mo · $9,996/yr condo

Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

2026-09-23

days on market $499,000 Active 106 DOM
2026-09-22

days on market $499,000 Active 105 DOM
2026-09-21

days on market $499,000 Active 104 DOM
2026-09-20

days on market $499,000 Active 103 DOM
2026-09-19

days on market $499,000 Active 102 DOM
2026-09-18

days on market $499,000 Active 101 DOM
2026-09-17

days on market $499,000 Active 100 DOM
2026-09-16

days on market $499,000 Active 99 DOM
2026-09-15

days on market $499,000 Active 98 DOM
2026-09-14

days on market $499,000 Active 97 DOM
2026-09-13

days on market $499,000 Active 96 DOM
2026-09-12

days on market $499,000 Active 95 DOM
2026-09-11

days on market $499,000 Active 94 DOM
2026-09-05

days on market $499,000 Active 88 DOM
2026-09-04

days on market $499,000 Active 87 DOM
2026-09-02

days on market $499,000 Active 85 DOM
2026-08-31

days on market $499,000 Active 83 DOM
2026-08-30

days on market $499,000 Active 82 DOM
2026-08-29

days on market $499,000 Active 81 DOM
2026-08-28

days on market $499,000 Active 80 DOM
2026-08-27

days on market $499,000 Active 79 DOM
2026-08-26

days on market $499,000 Active 78 DOM
2026-08-25

days on market $499,000 Active 77 DOM
2026-08-24

days on market $499,000 Active 76 DOM
2026-08-23

days on market $499,000 Active 75 DOM
2026-08-22

days on market $499,000 Active 74 DOM
2026-08-21

days on market $499,000 Active 73 DOM
2026-08-20

days on market $499,000 Active 72 DOM
2026-08-19

days on market $499,000 Active 71 DOM
2026-08-18

days on market $499,000 Active 70 DOM
2026-08-17

days on market $499,000 Active 69 DOM
2026-08-16

days on market $499,000 Active 68 DOM
2026-08-15

days on market $499,000 Active 67 DOM
2026-08-14

days on market $499,000 Active 66 DOM
2026-08-13

days on market $499,000 Active 65 DOM
2026-08-12

days on market $499,000 Active 64 DOM
2026-08-11

days on market $499,000 Active 63 DOM
2026-08-10

days on market $499,000 Active 62 DOM
2026-08-09

days on market $499,000 Active 61 DOM
2026-08-08

days on market $499,000 Active 60 DOM
2026-08-06

days on market $499,000 Active 58 DOM
2026-08-05

days on market $499,000 Active 57 DOM
2026-08-04

days on market $499,000 Active 56 DOM
2026-08-03

days on market $499,000 Active 55 DOM
2026-07-31

days on market $499,000 Active 52 DOM
2026-07-30

days on market $499,000 Active 51 DOM
2026-07-30

days on market $499,000 Active 50 DOM
2026-07-28

days on market $499,000 Active 49 DOM
2026-07-26

days on market $499,000 Active 47 DOM
2026-07-24

days on market $499,000 Active 45 DOM

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 54% chance over 30 yrs
🔥 Wildfire 1/10 Low
🌡 Heat 4/10 Moderate 7 d/yr ≥90°F today · 21 d/yr by 30 yrs out
💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $148,864
− Mortgage interest: −$27,952
− Property taxes: −$7,485
− Insurance: −$2,495
− Repairs & maintenance: −$11,909
− Management: −$11,909
− HOA: −$9,996
− Depreciation: −$14,516
Taxable income: $62,602

Your marginal tax rate % combined federal + state — saved on this device

Est. tax owed @ 24.0%: −$15,024
After-tax cash flow: $51,201/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 · 9 photos

Fair 45/100 Cosmetic rehab Est. rehab $3,000–$9,000 screening

This oceanfront co-op requires cosmetic repairs to the roof and exterior, but offers a great location and amenities.

Repairs flagged

Major roof — Signs of significant damage
Major exterior siding — Severe weathering

Value-add opportunities

Both Paint exterior — Enhances curb appeal and value ↑
Both Replace carpet — Improves comfort and appearance ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

B Composite school gradezoned avg 74/100

Zoned Schools

Elementary Westhampton Beach Elementary School B+ NY #525/2,108 Nat'l #4,366/41,679 Middle Westhampton Middle School B+ NY #136/729 Nat'l #1,545/14,009 High Westhampton Beach Senior High School A+ NY #147/1,100 Nat'l #235/17,239

Schools (NCES district)

District: Westhampton Beach Union Free School District
NCES district ID: 3631020
Math proficiency: 72% ▼ -5.00%
Reading proficiency: 75% ▲ 3.00%
Median HH income: $88,137
Composite: 65.91/100
National rank: #444
State rank: #81 of 590 in NY

C Composite livability gradescore 64/100

Livability — Westhampton Beach

Score: 64/100
State rank: #740
US rank: #14093

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place: Westhampton Beach, NY
County: Suffolk County · 1,505,262 people
City population: 4,705
Metro: New York-Newark-Jersey City, NY-NJ-PA
Population (ZIP): 4,705
Household income: $125,179
Rent vs Own: 11.8% rent · 88.2% own
Severe rent burden: 19% of renters

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 (72%)
Race & ethnicity: White 72% Two or more races 14% Hispanic / Latino 11% Black 6% Asian 2%
Hispanic origin (detail): Puerto Rican 1%
Common ancestry: Romanian 7% Scotch-Irish 2% Italian 2%
Foreign-born: 14% · Canada, Jamaica, China
Languages at home: 84% English-only · Spanish 10% Other Indo-European 2% 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: ▲ 13.02%
Current HPI: 460.3964
Rent YoY: —
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
#11 JPMorgan Chase New York $278.9B #21 Citigroup New York $170.8B #32 Goldman Sachs New York $126.9B #40 Morgan Stanley New York $107.3B #42 StoneX Group New York $99.9B #58 American Express New York $74.2B #98 TIAA New York $46.9B #273 Mastercard Purchase $28.2B #328 M&T Bank Buffalo $8.8B #392 Voya Financial New York $7.8B
Consumer Goods	9	$162B
#45 PepsiCo Purchase $91.9B #171 Colgate-Palmolive New York $19.5B #207 Estee Lauder New York $15.6B #246 Constellation Brands Victor $10.2B #422 PVH Corp New York $8.6B #364 Tapestry New York $6.7B #420 Ralph Lauren New York $6.6B #460 Steven Madden Long Island City $2.2B #498 Prestige Consumer Healthcare Tarrytown $1.1B
Insurance	4	$225B
#60 MetLife New York $71.0B #69 New York Life Insurance New York $62.6B #99 Travelers Companies New York $46.4B #101 AIG New York $44.9B
Telecommunications	2	$144B
#30 Verizon Communications New York $134.8B #297 Altice USA Long Island City $9.1B
Pharmaceuticals	2	$112B
#67 Pfizer New York $63.6B #94 Bristol-Myers Squibb New York $48.3B
Media / Entertainment	2	$69B
#295 Warner Bros. Discovery New York $39.9B #269 Paramount Global New York $28.9B

Price history

+51.8% since first listed

10 events — show timeline

2026-05-18 Listed $545,000 OneKey® MLS as Distributed by MLS Grid
2016-09-27 Sold (MLS) $328,000 OneKey® MLS as Distributed by MLS Grid
2016-09-27 Sold (MLS) $328,000 MLSLI
2016-07-25 Pending — MLSLI
2016-01-19 Listed $349,000 MLSLI
2016-01-14 Listed $349,000 OneKey® MLS as Distributed by MLS Grid
2015-10-22 Listing Removed — OneKey® MLS as Distributed by MLS Grid
2014-10-25 Listed $359,000 OneKey® MLS as Distributed by MLS Grid
2014-07-14 Listing Removed — OneKey® MLS as Distributed by MLS Grid
2014-04-15 Listed $359,000 OneKey® MLS as Distributed by MLS Grid

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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