Score
0Water Mill, NY
27 Winding Way
6.5M
6 beds
9 baths
7,100 sqft
6 bd • 9 ba • 7,100 sf
This analysis was generated on 2/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$6,495,000
Price/Sq.Ft
$915
Year Built
2024
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Brand new construction: The property is a new construction (built in 2024), offering modern amenities, updated systems, and minimal maintenance requirements for the near future.
• Desirable location: Situated on a quiet cul-de-sac in Water Mill, the property offers a desirable location with close proximity to many attractions of the Hamptons.
• Expansive agricultural reserve border: The property borders an expansive agricultural reserve, providing privacy and scenic views.
• Luxurious features: The property boasts high-end finishes, including six ensuite bedrooms, eight full bathrooms, a gourmet kitchen, a recreation area, a wet bar, a glass-enclosed gym, a sauna, a 50' x 20' gunite pool and spa, and an outdoor kitchen.
• Western-facing orientation: The western-facing orientation allows for stunning sunset views, enhancing the property's appeal.
• Low flood and fire risk: The property has a minimal flood risk (1/10) and a minimal fire risk (1/10), reducing potential insurance costs and concerns.
The Bad
• High price per square foot: At $914.79 per square foot, the property is priced above the average for the Water Mill area, potentially limiting its appeal to some buyers.
• School district ratings: The local schools have relatively low ratings (3/10, 4/10, and 5/10), which could be a deterrent for families with children.
• Days on market: The property has been on the market for 124 days, which is longer than average and may indicate pricing or other issues. The fact that the property was listed on October 2, 2023 and is still available could indicate market resistance at the current price point.
• History of price reductions: The property has undergone several price reductions, indicating that it may be overpriced relative to the market. The total price reduction from the original listing price of $7,765,000 to the current price of $6,495,000 is approximately 16.4%.
• Lack of detailed property features: The listing lacks specific details on property features, making it difficult to assess the value proposition compared to similar properties.
The Ugly
• High annual insurance cost: The estimated annual insurance cost of $23,382 is exceptionally high, potentially deterring some buyers.
• Severe wind risk: The property has a severe wind risk (8/10), which could lead to higher insurance premiums and potential damage from strong winds. This could also affect the long-term maintenance costs of the property.
• High property taxes: Property taxes in the Hamptons are generally very high, which could significantly increase the overall cost of ownership. This could make the property less attractive to buyers who are sensitive to property taxes.
• Air Quality Risk: While moderate (3/10), the 3 bad air days per year could be a concern for buyers with respiratory sensitivities. The impact of this on quality of life should be considered.
• Heat Risk: The moderate heat risk (4/10) and 7 hot days/year could lead to increased energy consumption for cooling and related expenses.
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
• High-net-worth individuals seeking a luxurious primary or secondary residence in the Hamptons: The property's high-end finishes, ample space (7,100 sq ft), and proximity to Water Mill's attractions cater to affluent buyers.
• Buyers prioritizing privacy and views: The flag lot location bordering an agricultural reserve offers enhanced privacy and scenic western-facing sunset views.
• Families seeking a move-in ready home with modern amenities: As a new construction, the property provides modern infrastructure, six ensuite bedrooms, and a range of desirable features, including a pool, outdoor kitchen, and finished lower level with a gym and sauna.
• Buyers interested in potential rental income: While primarily suited as a residence, the property's size and location could make it attractive for high-end seasonal rentals, particularly during the summer months. The estimated rental income for a four-bedroom property in the area is $4,760 per month (2023 data).
Not For
• Buyers on a limited budget: The high price point ($6,495,000) and estimated annual insurance cost ($23,382) make this property unsuitable for budget-conscious buyers.
• Families with young children seeking top-rated schools: The local elementary school has a rating of 3/10, which may deter families prioritizing high-performing schools. Southampton Intermediate School (4/10) and Southampton High School (5/10) also have relatively low ratings.
• Buyers seeking a quick return on investment: Given the high purchase price and property taxes, the potential for short-term rental income may not provide a rapid return on investment.
• Buyers averse to high wind risk: With a severe wind risk score of 8/10, the property may not appeal to buyers concerned about potential wind damage and associated insurance costs.
Demographics
Area Median Income
$161,442
Property History
Price History
Ownership Timeline
$2,255,000Cash Purchase
Jun 24, 2022Janice F BodiFlawless Development Llc
Deed
Non-Residential Arm's Length Transactions
Property Taxes
$0
2023 Tax Assessment
Assessed Value$711,000
Tax Rate0.00%
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
3.0/10
Below AverageHigh
5.0/10
AverageFinancials
Monthly Costs
Market Rent (6 bed)
Get a detailed estimate on Zillow$2,250
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