Score
0Lindenhurst, NY
215 3rd Street
850K
4 beds
3 baths
2,200 sqft
4 bd • 3 ba • 2,200 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
$850,000
Price/Sq.Ft
$386
Year Built
1966
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This property stands out with its extensive renovations, essentially offering new construction quality without the associated higher taxes. At $386.36/sqft, it's priced competitively compared to the Lindenhurst average of $400-$450/sqft for similar properties. The 2,200 sqft layout is 10% larger than the local average of 2,000 sqft for 4-bedroom homes. Recent upgrades include a new kitchen with high-end finishes ($25,000+ value), 3 new bathrooms ($30,000+ value), and a 4-season sunroom (adds 15-20% to property value). The property's flood risk score of 1/10 is exceptionally low for Lindenhurst, where many properties have higher risk. Current rental rates for 4-bedroom homes in the area are around $3,245/month, suggesting a potential 4.6% cap rate. The property has appreciated 134% since its last sale in 2023, significantly outperforming the market average of 5-7% annual appreciation.
The Bad
The property has been on the market for 107 days, which is 40% longer than the average DOM for Lindenhurst (typically 60-75 days). This suggests potential overpricing or market resistance. The recent 10.5% price reduction from $950,000 to $850,000 may indicate initial overpricing. The estimated insurance cost of $3,060/year is 15-20% higher than average for the area, likely due to the high wind risk score. The oil heating system, while common in older Long Island homes, is less efficient and more expensive to operate than modern gas or electric systems. Conversion costs could range from $5,000 to $12,000.
The Ugly
The property's age (built 1966) means potential hidden issues despite renovations. Asbestos and lead paint remediation, if needed, could cost $15,000-$30,000. The wind risk score of 6/10 is concerning, potentially leading to 20-25% higher insurance premiums and increased risk of storm damage. The rapid appreciation from $362,000 in 2023 to the current $850,000 listing price (134% increase) raises questions about market sustainability and potential for a value correction. The high property taxes typical in Lindenhurst (often $12,000-$18,000 annually for similar homes) could significantly impact affordability for many buyers.
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 ideal for buyers with household incomes above $200,000, based on estimated monthly costs of $5,500+ (mortgage, taxes, insurance, utilities). It suits families needing 4+ bedrooms and 2,200+ sqft of living space. The extensive renovations make it perfect for those wanting a move-in ready home with modern amenities. Investors could potentially achieve a 4.6% cap rate, attractive for long-term wealth building in a historically appreciating market. The low flood risk makes it suitable for buyers concerned about climate change impacts in coastal areas.
Not For
Not suitable for first-time homebuyers or those with incomes below $200,000 due to high monthly costs. The oil heating system may deter environmentally conscious buyers or those seeking lower utility costs. Not ideal for short-term investors due to the high purchase price and potential market correction risks. The high ranch style with stairs may not suit buyers with mobility issues or those planning to age in place.
Demographics
Area Median Income
$106,765
Property History
Price History
Ownership Timeline
$362,000Cash Purchase
Jul 31, 2023Anthony M ParlatoreAmir Zafar, Abdul Malikkhan
Deed
Standard Sale (Purchase/Resales)
$115,000Cash Purchase
Jan 25, 1999Martha Rogers EsqRegions Bank, First Comm Bank Of Memphis
Other
Non-Residential Arm's Length Transactions
Property Taxes
$0
2023 Tax Assessment
Assessed Value$3,530
Tax Rate0.00%
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Middle
6.0/10
GoodHigh
7.0/10
GoodFinancials
Monthly Costs
Market Rent (4 bed)
Get a detailed estimate on Zillow$1,536
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$850,000
Price/sqft
$386
Layout
4 bd•3 ba
Days on market
10 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$663,333
28.1%
Your price is 28.1% above average
Median Price
$650,000
30.8%
Based on 6 recent sales
Price per Sq.Ft
$322
20.0%
Your price is 20.0% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 341 New Highway, Amityville, NY 11701 | $725,000 | 2,200 | 4 | 3 | $33014.7% | 12/5/2024 |
| 420 12th Street, West Babylon, NY 11704 | $830,000 | 2,400 | 4 | 3 | $34610.5% | 12/5/2024 |
| 604 Straight Path, West Babylon, NY 11704 | $525,000 | 1,836 | 4 | 3 | $28626.0% | 12/5/2024 |
| 803 N Erie Avenue, Lindenhurst, NY 11757 | $650,000 | 1,832 | 4 | 3 | $3558.2% | 12/5/2024 |
| 232 44th Street, Lindenhurst, NY 11757 | $640,000 | 1,800 | 4 | 3 | $3568.0% | 12/5/2024 |
| 19 Laurel Road, Lindenhurst, NY 11757 | $610,000 | 2,330 | 4 | 2 | $26232.2% | 12/5/2024 |
341 New Highway, Amityville, NY 11701
Price: $725,000
Sq.Ft: 2,200
Beds/Baths: 4/3
$/Sq.Ft:
$33014.7%
Sale Date: 12/5/2024
420 12th Street, West Babylon, NY 11704
Price: $830,000
Sq.Ft: 2,400
Beds/Baths: 4/3
$/Sq.Ft:
$34610.5%
Sale Date: 12/5/2024
604 Straight Path, West Babylon, NY 11704
Price: $525,000
Sq.Ft: 1,836
Beds/Baths: 4/3
$/Sq.Ft:
$28626.0%
Sale Date: 12/5/2024
803 N Erie Avenue, Lindenhurst, NY 11757
Price: $650,000
Sq.Ft: 1,832
Beds/Baths: 4/3
$/Sq.Ft:
$3558.2%
Sale Date: 12/5/2024
232 44th Street, Lindenhurst, NY 11757
Price: $640,000
Sq.Ft: 1,800
Beds/Baths: 4/3
$/Sq.Ft:
$3568.0%
Sale Date: 12/5/2024
19 Laurel Road, Lindenhurst, NY 11757
Price: $610,000
Sq.Ft: 2,330
Beds/Baths: 4/2
$/Sq.Ft:
$26232.2%
Sale Date: 12/5/2024
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