Building Details

Building Size 10,044 SF

Year Built 1909

Units 4

Listing Agency: Westhampton Beach

Listed By: Geraldine Wyman · License #10401273136 Show Phone

Source: Elliman

Added: Jul 29 Changed: Oct 21 Last Checked: Oct 20 at 9:44PM

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Investment Insights

Based on property information with market context.

This multi-residence property includes a farmhouse with five bedrooms, a living room, formal dining room, eat-in country kitchen, den, and wraparound porch. The compound also features two separate one-bedroom cottages and an attached studio, each with a private yard area. Rental permits are in place for the residences.

The grounds include ample parking and outdoor entertaining areas, with room for a pool. The property borders a 35-acre tree farm and sits near the Quogue border. East Quogue shops, restaurants, ocean beaches, train service, and Hampton Jitney stops are nearby, while New York City is less than two hours away.

Key Highlights

• Farmhouse includes five bedrooms, living room, formal dining room, eat‑in country kitchen, den, and wraparound porch
• Two separate one‑bedroom cottages plus an attached studio
• Rental permits are already in place

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$178,507

Cap Rate

8.11%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,570,140 $3.6M

Cap Rate 7%

$2,550,100 $2.6M

Cap Rate 9%

$1,983,411 $2.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,044 SF

Gross rent

$347.1K $34.56/SF

− Vacancy

−$22.6K −$2.25/SF

EGI

$324.6K $32.31/SF

− OpEx

−$146.1K −$14.54/SF

NOI

$178.5K $17.77/SF

Area

Suffolk County, NY

Vacancy

6.50%

Lease Rate

$34.56 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,570,140

Cap Rate 7%

$2,550,100

Cap Rate 9%

$1,983,411

Alternative Uses

Best Use

Apartment 5plus

$2.55M

$2.23M – $2.98M (±1% cap)

NOI $178,507 @ 7.0% cap · market cap 8.11%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.06M

$2.68M – $3.57M (±1% cap)

NOI $214,191 @ 7.0% cap · market cap 9.74%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

166

Businesses Nearby

Explore this area Business Placement

Demographics for 11942, NY

5,571

Population

3,471

Households

1.6

Avg Household Size

45

Median Age

51%

College-Educated

93%

High-School Grad

8.5 sq mi

ZIP Area

655

Density / Sq Mi

$106,875

Median Household Income

$50,816

Median Earnings

$1,785

Median Rent

$801,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Short term rental property - Farmhouse, two cottages, and an attached studio provide multiple residences with rental permits already in place.

Where is this short term rental property located?

The property is located at 718 Montauk Hwy East Quogue, NY.

What is the asking price?

The asking price for this property is $2,200,000.

What are key features of this property?

This property features: Farmhouse includes five bedrooms, living room, formal dining room, eat‑in country kitchen, den, and wraparound porch; Two separate one‑bedroom cottages plus an attached studio; Rental permits are already in place