604 Main St · Greenport, NY 11944

$1,395,000

3 bd · 3.5 ba · 2,000 sqft · SingleFamily · 277 Days on market

Built 1890 5,227 sqft lot $698/sqft · 36% above area Est $1027k · 36% over

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Why this score? — see what drove the C- 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 +26.0/30.0
• DSCR +8.7/10.0
• 1% rule +5.9/10.0
• Schools +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This c.1890 Greenport Village gem boasts 3 bedrooms, 2.5 baths plus a detached studio apartment. Set in the heart of the historic district, it merges many distinctive original details with thoughtful modern updates. A beautifully planted enclosed rear garden with deck and patio, perfect for relaxing and entertaining, leads to a renovated barn which features a 2-car garage and the spacious studio apartment. The main residence's generous ground floor living spaces include a front parlor and living room with original pocket doors, dining room, powder room, and a large renovated kitchen centered on a 48" Capital gas range. Upstairs there are three bedrooms and two full bathrooms, including one en suite. Refinished original wood floors add warmth and character throughout. The restaurants, shops and waterfront of the maritime village are just a few blocks away from this refined and peaceful retreat.

Key facts

• Renovated barn
• Renovated kitchen
• Deck and patio

Tags

• HISTORIC DISTRICT
• ORIGINAL POCKET DOORS
• RENOVATED KITCHEN
• ENCLOSED REAR GARDEN
• DECK AND PATIO
• RENOVATED BARN

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $1.40M.

Deal economics

• At list price, monthly cash flow is $3k ($42k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $1.40M).
• Recommended offer: $1.23M (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#217 in NY, #3,399 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, commute B+; Watch: housing C-, cost of living F.
• Greenport Union Free School District (town): math 55% / reading 45% proficiency, ranked #450 of 755 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 69 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $10k of loan paydown is wiped out by about $42k 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 277 days — a 12% lower offer ($1.23M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $200k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $165k; list at $1.40M implies a 745% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• 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 $1,227,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 277 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 1.09% ✓
• Cap rate: 9.27%
• Cash-on-cash: 10.64%
• DSCR: 1.47
• GRM: 7.7

CMA / ARV

• ARV (median comp): $1,026,591
• List price: $1,395,000
• Delta: 35.89%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
330 2nd St	0.19mi	2/2.0 (-1)	1,946 (-3%)	6mo	$675,000	$347	71
216 North St	0.19mi	3/3.5	1,724 (-14%)	0mo	$999,000	$579	68
520 Madison Ave	0.38mi	4/2.5 (+1)	2,000 (0%)	17mo	$1,675,000	$838	59
529 2nd St	0.17mi	3/1.5	2,200 (+10%)	10mo	$1,100,000	$500	59
1425 Middleton Rd	0.46mi	4/2.0 (+1)	1,968 (-2%)	15mo	$672,800	$342	52
525 Landing Ln	0.45mi	4/3.0 (+1)	2,100 (+5%)	14mo	$920,000	$438	52
336 2nd St	0.18mi	4/2.0 (+1)	1,800 (-10%)	15mo	$578,000	$321	52
516 4th St	0.46mi	4/2.5 (+1)	1,840 (-8%)	14mo	$1,195,000	$649	45
239 5th Ave	0.42mi	3/2.0	1,750 (-12%)	15mo	$895,000	$511	41
1605 Washington Ave	0.55mi	4/3.0 (+1)	1,740 (-13%)	6mo	$1,295,000	$744	40
237 5th Ave	0.43mi	3/1.5	1,700 (-15%)	11mo	$1,250,000	$735	38
803 Front St	0.66mi	3/2.0	2,300 (+15%)	1mo	$899,000	$391	37

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

Projected returns pro-forma

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

5-year hold

• IRR: -0.4%
• Equity multiple: 0.98×
• Total profit: $-6,028
• Equity at exit: $207,999

10-year hold

• IRR: 9.2%
• Equity multiple: 1.71×
• Total profit: $276,764
• Equity at exit: $120,614

Cash invested: $390,600 (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 11944

• Home prices YoY: -23.7%
• Active inventory: 69
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $15,149 medium
• Mortgage (P&I): −$7,316
• Tax from tax record: −$609 /mo · $7,310/yr
• Insurance: −$581
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,181
• Net cashflow: $3,462

Break-even live

Break-even rent $10,767

Max offer price $1,395,000

Occupancy floor 72%

Sensitivity live

Price	-10% $4,252	-5% $3,857	+0% $3,462	+5% $3,067	+10% $2,672
Rent	-10% $2,265	-5% $2,864	+0% $3,462	+5% $4,060	+10% $4,659
Rate	-1.0pp $4,164	-0.5pp $3,817	base $3,462	+0.5pp $3,100	+1.0pp $2,733

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: $348,750
• Closing costs: $41,850
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 Sterling Ave #2 Greenport, NY	3.0	3.0	1528	$45,000	$29.45	45d	1	0.15mi
312 5th Ave Greenport, NY	4.0	2.0	1900	$12,000	$6.32	45d	1	0.36mi
485 Sutton Pl Greenport, NY	4.0	2.5	2026	$20,000	$9.87	45d	1	0.74mi
237 6th St Greenport, NY	2.0	2.5	1452	$14,000	$9.64	13d	1	0.78mi
134 6th St Greenport, NY	3.0	2.0	1560	$18,500	$11.86	20d	1	0.92mi
131 6th St Unit G Greenport, NY	3.0	2.5	2238	$5,000	$2.23	26d	1	0.96mi
64230 North Rd Greenport, NY	4.0	3.0	2800	$6,500	$2.32	45d	1	1.13mi
1110 Gillette Dr East Marion, NY	4.0	2.0	1500	$7,000	$4.67	20d	1	1.27mi

Listing history 7 events

1. 2026-05-08
   status Pending 915-char remark

   Show marketing remark (915 chars)

   This c.1890 Greenport Village gem boasts 3 bedrooms, 2.5 baths plus a detached studio apartment. Set in the heart of the historic district, it merges many distinctive original details with thoughtful modern updates. A beautifully planted enclosed rear garden with deck and patio, perfect for relaxing and entertaining, leads to a renovated barn which features a 2-car garage and the spacious studio apartment. The main residence's generous ground floor living spaces include a front parlor and living room with original pocket doors, dining room, powder room, and a large renovated kitchen centered on a 48" Capital gas range. Upstairs there are three bedrooms and two full bathrooms, including one en suite. Refinished original wood floors add warmth and character throughout. The restaurants, shops and waterfront of the maritime village are just a few blocks away from this refined and peaceful retreat.

2. 2026-03-13
   price $1,395,000 915-char remark

   Show marketing remark (915 chars)

   This c.1890 Greenport Village gem boasts 3 bedrooms, 2.5 baths plus a detached studio apartment. Set in the heart of the historic district, it merges many distinctive original details with thoughtful modern updates. A beautifully planted enclosed rear garden with deck and patio, perfect for relaxing and entertaining, leads to a renovated barn which features a 2-car garage and the spacious studio apartment. The main residence's generous ground floor living spaces include a front parlor and living room with original pocket doors, dining room, powder room, and a large renovated kitchen centered on a 48" Capital gas range. Upstairs there are three bedrooms and two full bathrooms, including one en suite. Refinished original wood floors add warmth and character throughout. The restaurants, shops and waterfront of the maritime village are just a few blocks away from this refined and peaceful retreat.

3. 2026-03-13
   status Active 915-char remark

   Show marketing remark (915 chars)

   This c.1890 Greenport Village gem boasts 3 bedrooms, 2.5 baths plus a detached studio apartment. Set in the heart of the historic district, it merges many distinctive original details with thoughtful modern updates. A beautifully planted enclosed rear garden with deck and patio, perfect for relaxing and entertaining, leads to a renovated barn which features a 2-car garage and the spacious studio apartment. The main residence's generous ground floor living spaces include a front parlor and living room with original pocket doors, dining room, powder room, and a large renovated kitchen centered on a 48" Capital gas range. Upstairs there are three bedrooms and two full bathrooms, including one en suite. Refinished original wood floors add warmth and character throughout. The restaurants, shops and waterfront of the maritime village are just a few blocks away from this refined and peaceful retreat.

4. 2025-07-17
   price $1,495,000 915-char remark

   Show marketing remark (915 chars)

   This c.1890 Greenport Village gem boasts 3 bedrooms, 2.5 baths plus a detached studio apartment. Set in the heart of the historic district, it merges many distinctive original details with thoughtful modern updates. A beautifully planted enclosed rear garden with deck and patio, perfect for relaxing and entertaining, leads to a renovated barn which features a 2-car garage and the spacious studio apartment. The main residence's generous ground floor living spaces include a front parlor and living room with original pocket doors, dining room, powder room, and a large renovated kitchen centered on a 48" Capital gas range. Upstairs there are three bedrooms and two full bathrooms, including one en suite. Refinished original wood floors add warmth and character throughout. The restaurants, shops and waterfront of the maritime village are just a few blocks away from this refined and peaceful retreat.

5. 2025-05-15
   listed $1,595,000 Active 915-char remark

   Show marketing remark (915 chars)

   This c.1890 Greenport Village gem boasts 3 bedrooms, 2.5 baths plus a detached studio apartment. Set in the heart of the historic district, it merges many distinctive original details with thoughtful modern updates. A beautifully planted enclosed rear garden with deck and patio, perfect for relaxing and entertaining, leads to a renovated barn which features a 2-car garage and the spacious studio apartment. The main residence's generous ground floor living spaces include a front parlor and living room with original pocket doors, dining room, powder room, and a large renovated kitchen centered on a 48" Capital gas range. Upstairs there are three bedrooms and two full bathrooms, including one en suite. Refinished original wood floors add warmth and character throughout. The restaurants, shops and waterfront of the maritime village are just a few blocks away from this refined and peaceful retreat.

6. 1996-10-15
   soldstatus $165,000
7. 1993-08-09
   soldstatus $180,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $7,310 · $609/mo
• Projected year-2 tax: $15,443 · $1,287/mo
• Expected delta: +$8,133/yr (+$678/mo · 111.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥90°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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $181,790
• − Mortgage interest: −$78,142
• − Property taxes: −$7,310
• − Insurance: −$6,975
• − Repairs & maintenance: −$14,543
• − Management: −$14,543
• − Depreciation: −$40,582
• Taxable income: $19,695
• Est. tax owed @ 24.0%: −$4,727
• After-tax cash flow: $36,816/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.

Schools (NCES district)

• District: Greenport Union Free School District
• NCES district ID: 3612840
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $54,490
• Composite: 45.25/100
• National rank: #5759
• State rank: #450 of 755 in NY

Livability — Greenport

• Score: 76/100
• State rank: #217
• US rank: #3399

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenport, NY
• City population: 4,744
• Population (ZIP): 4,744

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 23% Two or more races 6% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 6% Lithuanian 2% Subsaharan African 2%
• Foreign-born: 19% · Canada, China
• Languages at home: 69% English-only · Spanish 22% German/W. Germanic 3% Russian/Polish/Slavic 2%

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: ▼ -143.97%
• Current HPI: 462.3431
• Rent YoY: —
• Metro: —
• 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

+675.0% since first listed

7 events — show timeline

• 2026-05-08 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-13 Price Changed $1,395,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-13 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-07-17 Price Changed $1,495,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-15 Listed $1,595,000 OneKey® MLS as Distributed by MLS Grid
• 1996-10-15 Sold (Public Records) $165,000 Public Records
• 1993-08-09 Sold (Public Records) $180,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $7,310 · +0.0% YoY. Source: county tax records.