21 Ruby Ln

South Huntington, NY 11746

$540,000D

3 bd · 2.0 ba · 1,574 sqft · Built 1954 · SingleFamily · Active · 85 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,422/mo
• Mortgage (P&I): −$2,832
• Tax + insurance: −$1,188
• HOA: −$0
• Vac / Maint / Mgmt: −$929
• Net cashflow: $-526/mo
• Annual: $-6,317/yr
• Cap rate: 5.12%
• Cash-on-cash: -4.18%
• DSCR: 0.81
• 1% rule: 0.82%
• Cash to close: $151,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $540k.
• At list price, monthly cash flow is $-526 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $447k (17.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $442k (18.1% below list).
• It's been on market 85 days — a 6% lower offer ($508k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $442k (18.1% below list) — sets the bar for 1% rule.
• 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 78/100 on livability (#171 in NY, #2,673 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: amenities F, cost of living F.
• South Huntington Union Free School District (suburban): math 48% / reading 55% proficiency, ranked #290 of 590 in NY (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Walt Whitman High School (math 96% / reading 94%, grade A+, #83 of 1,100 statewide, top 8%, 1,991 students, 52% FRL) — zoned schools average 52% FRL vs 36% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 95% at this address vs 52% district-wide (+44 pts) — the actual schools serving this property are materially stronger than the South Huntington Union Free School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+4.5%/yr); 313 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).
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $60k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $540k implies a 980% gain — meaningful room to come down on a strong offer.
• Cap rate 5.1% vs local median 3.2% in South Huntington — 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.
• This rent runs 32% of the median local income ($165k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 85 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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?
• 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.