Real Estate Investing in Water Mill, New York (11976)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 11976 (Water Mill, NY)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A balanced market — moderate cash flow and moderate appreciation. A "steady" investor profile fits best.
- High vacancy: 53.8% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
⚠ Data quality notice
- Rental data under review — the recorded rent is far above HUD fair-market rent for this ZIP. Cash-flow figures are excluded from rankings pending verification.
What’s happening in Water Mill, NY (11976)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 11976 Water Mill
The 11976 ZIP inside Water Mill stays in its lane — neither a breakout appreciation market nor a deep-yield play. Home values sit at $5.1M, rents at $101,167/mo.
For core-plus portfolios, 11976 is the kind of ZIP that fills out the weighted average. durable on the fundamentals, light on the surprises.
Meanwhile, NY contains both high-growth and high-yield outliers, 11976 sits in the middle — $5.1M pricing, 0.0% yield, and 0.0% growth all close to regional norms.
Demographically, 11976 is the definition of a steady submarket. From an investor standpoint, growth has been modest, attrition has been low, and the mix of owners and renters has not shifted meaningfully.
First-time investors often find 11976 a reasonable starting point. Experienced investors often find it a reasonable anchor for a broader portfolio. a solid fit for on both counts.
Here's what matters if you're considering buying a home in Water Mill:
Property Strategy for 11976
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $1,768,061 | $3,030 | 1.2% | +11.0% | $884,030 |
| 3BR | $2,437,237 | $3,940 | 1.2% | +10.4% | $812,412 |
| 4BR | $3,720,321 | $4,160 | 0.8% | +10.5% | $930,080 |
| 5BR | $7,333,877 | — | — | +10.2% | $1,466,775 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 11976 Compare?
| Metric | 11976 | Water Mill | New York |
|---|---|---|---|
| Home Value | $5,090,000 | $5,090,000 | $505,608 |
| 5-Year CAGR | 7.6% | 7.6% | 6.6% |
| Avg Rent | $101,167 | $101,167 | - |
| Cap Rate | 15.5% | 15.5% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 11976 (Water Mill, NY). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 11976 (Water Mill, NY)?
~25 seconds · no account needed · your report is anonymous
Property managers serving Suffolk County
Manage rentals here? List your business →CXA Management provides property management services. summary from their website
Eminent Properties Ltd is a property management company. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $5,090,000 |
| Monthly Rent | $101,167 |
| Price-to-Rent | 4.2:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 23.9% |
| Cap Rate | 15.5% |
| 5-Year IRR | 23.1% |
📈 Home Appreciation
| 1-Year | +5.6% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | +7.6% ▲ |
| 10-Year CAGR | +5.9% ▲ |
🏠 Rent Trends
| 1-Year | -1.7% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (15.5%) exceeds the current 30-yr mortgage rate (6.8%). When borrowing costs less than a property yields, leverage can increase your cash-on-cash return above the cap rate.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 11976
Population: 2,447
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 11976
Nearby Schools (1 more)
Schools in adjacent ZIP codes that may serve this area
BRIDGEHAMPTON SCHOOL
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
What price range are homes in Water Mill, NY?
In Water Mill, NY the median home value sits at $5.1M. Against the broader NY market, that reads as reasonable for most investors.
Is house hacking profitable in Water Mill, NY?
The a tougher house-hack environment in Water Mill, NY reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
What is it like being a landlord in Water Mill, NY?
Landlord-friendliness in Water Mill, NY is tenant-protective. Eviction timelines and lease enforcement are considered reasonable by most property managers.
What is the average monthly rent in Water Mill, NY?
Investors in Water Mill, NY typically see rents near $101,167/mo per month against $5.1M home values - a solid setup for rental cash flow.
How do experienced investors play Water Mill, NY?
Water Mill, NY investors pursuing steady buy-and-hold investing. The underlying economics ($5.1M prices, $101,167/mo rents) make it a reasonable choice.
You know 11976 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 11976 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 11976 ranks in New York-Newark-Jersey City, NY-NJ-PA
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 11976 (Water Mill)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 11976 (Water Mill, NY).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.