44 Buchanan Ave

Copiague, NY 11701

$350,000B-

5 bd · 1.0 ba · 1,572 sqft · Built 1938 · SingleFamily · Pending · 61 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,271/mo
• Mortgage (P&I): −$1,835
• Tax + insurance: −$875
• HOA: −$0
• Vac / Maint / Mgmt: −$897
• Net cashflow: $664/mo
• Annual: $7,972/yr
• Cap rate: 8.57%
• Cash-on-cash: 8.13%
• DSCR: 1.36
• 1% rule: 1.22%
• Cash to close: $98,000

Investor read

• This is a 5-bed/1.0-bath single-family listed at $350k.
• At list price, monthly cash flow is $664 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• It's been on market 61 days — a 6% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $329k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#611 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, commute B; Watch: crime C-, amenities F, cost of living F.
• Copiague Union Free School District (suburban): math 38% / reading 39% proficiency, ranked #506 of 590 in NY (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Copiague Middle School (math 13% / reading 38%, grade F, #597 of 729 statewide, top 82%, 1,061 students, 55% FRL); Walter G O'Connell Copiague High School (math 87% / reading 95%, grade A+, #203 of 1,100 statewide, top 20%, 1,524 students, 54% FRL) — zoned schools at 55% FRL track the district average.
• Zoned-school proficiency averages 58% at this address vs 38% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Copiague Union Free School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 124 active listings in the ZIP; 1 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.
• 9 sale attempts since 13y ago; this cycle's ask has dropped $250k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $200k; list at $350k implies a 75% gain — meaningful room to come down on a strong offer.
• Cap rate 8.6% vs local median 2.8% in Copiague — 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 44% of the median local income ($117k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1938 — 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.
• 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.