279 Dune Rd #2 · Westhampton Beach, NY 11978

$1,349,000

2 bd · 1.5 ba · 960 sqft · Condo · 24 Days on market

Built 1973 Excellent condition $1405/sqft · 13% below area Est $1547k · 13% under $1833/mo HOA · 12% of rent ↓ 10% since listing

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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 +16.8/30.0
• ARV discount +13.3/15.0
• Appreciation +10.0/10.0
• Schools +6.6/10.0
• 1% rule +6.3/10.0
• DSCR +5.2/10.0
• Condition / age +4.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

Welcome to The Ocean Dunes – an exclusive, highly sought-after condo complex featuring only 20 oceanfront residences and one of just two complexes on Dune Road open year-round, affording you unlimited access to the Hamptons 365 days a year. This is your opportunity to own a coveted first-floor waterfront unit with direct beach access, offering panoramic, unobstructed views of the Atlantic. Managed by HCMC, the East End's leading property management company, Ocean Dunes offers residents an on-site staff member and concierge services during the summer season. Ideally located just 1.4 miles from the newly revitalized Main Street and moments over the Jessups Lane bridge, this sunlit condo blends oceanside serenity with village convenience. Step out onto your private deck – mere steps from the sand – and experience the Hamptons in every season. Inside, the thoughtfully designed layout features 2 bedrooms, including an en-suite with a walk-in shower and Toto toilet. A spacious powder room is already plumbed for a future full bath, and in-unit laundry adds everyday convenience. The eat-in kitchen boasts custom Wood Mode cabinetry with under-cabinet lighting, a barn-style sink, granite countertops, and premium appliances including a panel-ready Jenn-Air fridge, GE range, and microwave. Enjoy meals in the dining area and unwind in the open living room, both flowing effortlessly to the expansive ocean-facing deck – the ideal setting for sunrises, ocean breezes, and summer entertaining. Additional highlights include solid wood interior doors, three new ductless AC/Heating units (installed just 3 years ago), and hardwood floors throughout. Ocean Dunes also provides a residents-only laundry facility with brand new washers and dryers, plus dedicated storage. With very few units ever coming to market, this is a rare chance to own in one of Westhampton Beach's most desirable waterfront enclaves. Don't miss the opportunity to make this exceptional retreat your own.

Key facts

• Private deck
• On-site staff member
• Concierge services

Tags

• DIRECT BEACH ACCESS
• PANORAMIC UNOBSTRUCTED VIEWS
• ON-SITE STAFF MEMBER
• CONCIERGE SERVICES
• PRIVATE DECK
• CUSTOM WOOD MODE CABINETRY

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $1.35M. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $862 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $1.35M).
• Recommended offer: $1.33M (1.5% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 9.3% in Westhampton Beach — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 64/100 on livability (#740 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, schools 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.
• Market conditions: 112 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• At $15,212/mo this rent would consume 146% of the median local household income ($125k/yr) (locally 43% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $144k of equity ($9k loan paydown + $135k 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 $378k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$232k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($1.33M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $1,328,765 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 7.06%
• Cash-on-cash: 2.74%
• DSCR: 1.12
• GRM: 7.4

CMA / ARV

• ARV (median comp): $1,546,694
• List price: $1,349,000
• Delta: -12.78%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 26.3%
• Equity multiple: 3.09×
• Total profit: $790,948
• Equity at exit: $1,215,286

10-year hold

• IRR: 23.1%
• Equity multiple: 7.06×
• Total profit: $2,288,742
• Equity at exit: $2,620,810

Cash invested: $377,720 (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 →

ZIP-level market 11978

• Home prices YoY: 2.9%
• Active inventory: 112
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $15,212 medium
• Mortgage (P&I): −$7,074
• Tax est. 1.5%: −$1,686 /mo · $20,235/yr
• Insurance: −$562
• HOA: −$1,833
• Vacancy / Maint / Mgmt: −$3,195
• Net cashflow: $862

Break-even live

Break-even rent $14,121

Max offer price $1,349,000

Occupancy floor 89%

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: $337,250
• Closing costs: $40,470
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
265 Dune Rd Westhampton Beach, NY	2.0	2.0	900	$45,000	$50.00	44d	1	0.07mi
265 Dune Rd Unit 71 Westhampton Beach, NY	1.0	1.5	1000	$7,500	$7.50	44d	1	0.07mi
274 Dune Rd #6 Westhampton Beach, NY	1.0	1.0	565	$5,000	$8.85	44d	1	0.09mi
274 Dune Rd #19 Westhampton Beach, NY	1.0	1.0	684	$12,000	$17.54	11d	1	0.10mi
261 Dune Rd Westhampton Beach, NY	2.0	2.0	950	$35,000	$36.84	24d	1	0.10mi
260 Dune Rd Westhampton Beach, NY	2.0	2.0	550	$26,000	$47.27	8d	2	0.14mi
250 Dune Rd Unit 120 Westhampton Beach, NY	1.0	2.0	950	$17,000	$17.89	24d	1	0.18mi
35 Library Ave Apt 3L Westhampton Beach, NY	2.0	2.0	800	$17,500	$21.88	24d	1	1.07mi
221 Mill Rd #3 Westhampton Beach, NY	1.0	1.0	810	$8,000	$9.88	24d	1	1.46mi

HOA detail condo

• Monthly dues: $1,833 · $21,996/yr
• Likely covers: waterdoorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-13
   statusdays on market $1,349,000 Pending 24 DOM
2. 2026-06-09
   days on market $1,349,000 Active 21 DOM
3. 2026-06-08
   days on market $1,349,000 Active 20 DOM
4. 2026-06-07
   days on market $1,349,000 Active 19 DOM
5. 2026-06-04
   days on market $1,349,000 Active 16 DOM
6. 2026-06-03
   days on market $1,349,000 Active 15 DOM
7. 2026-06-02
   days on market $1,349,000 Active 14 DOM
8. 2026-06-01
   days on market $1,349,000 Active 13 DOM
9. 2026-05-31
   days on market $1,349,000 Active 12 DOM
10. 2026-05-19
    listed $1,349,000 Active 2006-char remark

    Show marketing remark (2006 chars)

    Welcome to The Ocean Dunes – an exclusive, highly sought-after condo complex featuring only 20 oceanfront residences and one of just two complexes on Dune Road open year-round, affording you unlimited access to the Hamptons 365 days a year. This is your opportunity to own a coveted first-floor waterfront unit with direct beach access, offering panoramic, unobstructed views of the Atlantic. Managed by HCMC, the East End's leading property management company, Ocean Dunes offers residents an on-site staff member and concierge services during the summer season. Ideally located just 1.4 miles from the newly revitalized Main Street and moments over the Jessups Lane bridge, this sunlit condo blends oceanside serenity with village convenience. Step out onto your private deck – mere steps from the sand – and experience the Hamptons in every season. Inside, the thoughtfully designed layout features 2 bedrooms, including an en-suite with a walk-in shower and Toto toilet. A spacious powder room is already plumbed for a future full bath, and in-unit laundry adds everyday convenience. The eat-in kitchen boasts custom Wood Mode cabinetry with under-cabinet lighting, a barn-style sink, granite countertops, and premium appliances including a panel-ready Jenn-Air fridge, GE range, and microwave. Enjoy meals in the dining area and unwind in the open living room, both flowing effortlessly to the expansive ocean-facing deck – the ideal setting for sunrises, ocean breezes, and summer entertaining. Additional highlights include solid wood interior doors, three new ductless AC/Heating units (installed just 3 years ago), and hardwood floors throughout. Ocean Dunes also provides a residents-only laundry facility with brand new washers and dryers, plus dedicated storage. With very few units ever coming to market, this is a rare chance to own in one of Westhampton Beach's most desirable waterfront enclaves. Don't miss the opportunity to make this exceptional retreat your own.

11. 2026-05-18
    historical
12. 2026-01-07
    listed $1,349,000 Active
13. 2025-11-30
    historical
14. 2025-10-07
    price $1,399,000
15. 2025-09-02
    price $1,449,000
16. 2025-09-02
    price $1,425,000
17. 2025-05-05
    listed $1,499,000 Active

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

Taxation est. · year 1

• Rental income: $182,544
• − Mortgage interest: −$75,565
• − Property taxes: −$20,235
• − Insurance: −$6,745
• − Repairs & maintenance: −$14,604
• − Management: −$14,604
• − HOA: −$21,996
• − Depreciation: −$39,244
• Taxable loss: −$10,448
• Est. tax savings @ 24.0%: +$2,507
• After-tax cash flow: $12,849/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 · 6 photos

Excellent 95/100 None rehab

This oceanfront condo is in excellent condition with no visible repairs needed. It offers a prime location and stunning views, making it an ideal investment for both resale and rental.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and creates a more inviting atmosphere
• Both Upgrade HVAC system — Improves comfort and energy efficiency
• Both Replace window treatments — Enhances curb appeal and interior aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and creates a more inviting atmosphere ↑
• Both Upgrade HVAC system — Improves comfort and energy efficiency ↑
• Both Replace window treatments — Enhances curb appeal and interior 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: 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

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 · 679,920 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: 43.0

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: 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
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

-10.0% since first listed

8 events — show timeline

• 2026-05-19 Listed $1,349,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-07 Listed $1,349,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-10-07 Price Changed $1,399,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-02 Price Changed $1,449,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-02 Price Changed $1,425,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-05 Listed $1,499,000 OneKey® MLS as Distributed by MLS Grid