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12 Summit Street
About This Property
Built in 2014, this beautifully maintained home in the highly desirable Patchogue Shores community blends modern construction with coastal charm. Designed for easy one-level living, it features hardwood floors, an open, inviting layout, and a spacious second-floor bonus room perfect for a home office, guest space, playroom, or future expansion. The primary suite presents an exciting opportunity to complete a generous ensuite bath-adding instant equity while creating the private retreat you've always wanted. Thoughtfully designed for its location, the home was elevated during construction and includes valuable flood-mitigation features such as flood vents, French drains, and five new shallow cesspools for added peace of mind. Additional improvements include a new oil tank and quality finishes throughout. Enjoy private beach access and embrace the best of Long Island coastal living in one of Patchogue's most sought-after waterfront communities. With its modern construction, thoughtful updates, and incredible potential, this is an opportunity you won't want to miss.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 20, 2026 | In contract | - | |
| In contract | |||
| Jul 30, 2026 | Price Decreased |
$599,000
↓ $40K
(6.3%) | |
| Price Decreased | |||
| Jul 17, 2026 | Price Decreased |
$639,000
↓ $21K
(3.2%) | |
| Price Decreased | |||
| Jul 9, 2026 | Price Decreased |
$659,990
↓ $29K
(4.2%) | |
| Price Decreased | |||
| Jun 25, 2026 | Relisted | $689,000 | |
| Relisted | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017