Score
0East Hampton, NY
16 Glen Oak Ct
3.8M
6 beds
7 baths
5,100 sqft
6 bd • 7 ba • 5,100 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$3,781,500
Price/Sq.Ft
$741
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 16 Glen Oak Ct, East Hampton, NY 11937 boasts several impressive features. At 5,100 sqft, it's significantly larger than the average home in the area, offering ample space with 6 bedrooms and 7 bathrooms. The location is prime, situated in the highly desirable East Hampton area, known for its luxury real estate market. The property's landscaping is exceptional, with mature trees including a striking weeping willow and what appears to be a Japanese maple, providing natural beauty and privacy. The well-maintained driveway and manicured hedges suggest meticulous upkeep. At $741.47/sqft, while high, it's actually competitive for East Hampton's luxury market, where prices can easily exceed $1,000/sqft. The property's size and bedroom count make it suitable for large families or as a high-end vacation rental, with potential for strong seasonal income given East Hampton's popularity among wealthy vacationers.
The Bad
Despite its many positive attributes, there are some concerns. The lack of detailed information about the year built, property features, and utilities is problematic for a comprehensive analysis. This missing data could hide potential issues or necessary upgrades. The price of $3,781,500, while not unusual for East Hampton, is still 30.4 times the median income of $124,469, making it unaffordable for most local residents. Property taxes in East Hampton are notoriously high, often exceeding $50,000 annually for luxury properties, which could significantly increase the total cost of ownership. The seasonal nature of East Hampton's rental market means potential income fluctuations for investors, with peak demand limited to summer months.
The Ugly
The most concerning aspects of this property relate to environmental and regulatory challenges. East Hampton is vulnerable to hurricanes and severe weather events, with coastal properties at risk of flooding and erosion. Without knowing the exact proximity to the coast, it's difficult to assess the full extent of these risks, but flood insurance could be mandatory and expensive. The area's strict environmental regulations could limit future renovations or expansions, potentially affecting the property's long-term value. The "mansion tax" in New York adds an additional 1% for properties over $1 million, increasing the upfront cost by $37,815 for this home. Lastly, the competitive nature of East Hampton's real estate market could lead to bidding wars, potentially driving the final price well above the listed $3,781,500.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for high-net-worth individuals or families looking for a luxurious second home or vacation property. It's ideal for those with an annual income of $1,000,000+ to comfortably afford the mortgage, taxes, and maintenance costs. The spacious layout and multiple bedrooms make it perfect for large families or those who frequently entertain guests. Investors seeking high-end rental properties could also benefit, especially if they can capitalize on the premium summer rental market in East Hampton. The property would appeal to privacy-conscious buyers who appreciate the natural screening provided by the mature landscaping.
Not For
This property is not suitable for first-time homebuyers or those with moderate incomes, given its high price point and potential for significant ongoing costs. It's not ideal for buyers seeking a low-maintenance property, as the extensive grounds likely require considerable upkeep. Those uncomfortable with the seasonal nature of East Hampton and its influx of summer visitors should look elsewhere. Investors seeking consistent year-round rental income might find the seasonal market challenging. Lastly, it's not appropriate for buyers uncomfortable with the potential risks associated with coastal properties, including severe weather events and possible future impacts of climate change.
Demographics
Area Median Income
$124,469
Property History
Price History
Ownership Timeline
$0Cash Purchase
Nov 8, 2019Florence Josephs Irt, Beth JosephDaniel Josephs T, Daniel Joseph
Warranty Deed
Non-Arm's Length Transactions
$0Cash Purchase
Jun 26, 2015Florence JosephsBeth Josephs, Florence Josephs Irrevocable Trust
Warranty Deed
Non-Arm's Length Transactions
$0Cash Purchase
Jun 21, 2010Harold JosephsFlorence Josephs
Warranty Deed
Non-Arm's Length Transactions
Sunlight Analysis
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Sunlight Analysis
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Financials
Monthly Costs
Market Rent (6 bed)
Get a detailed estimate on Zillow$1,860
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