In Suffolk County, New York (Suffolk County, NY metro), 1–4 unit investment properties carry an average effective property tax rate of 2.08% and landlord hazard insurance averaging $760 per $100K of coverage. At a median 1–4 unit acquisition price of $625,000 and Form 1007 market rent of $4,450/mo, a 75% LTV DSCR loan models at 0.98x DSCR ($4,519/mo total PITIA).
Statutory county assessor periodic revaluation; underwriters use post-acquisition projected tax bill (typically 85%–100% of purchase price × county millage rate).
Long Island Coastal Wind + NY CEMA Eligible
NY Mortgage Recording Tax (1.80%–2.80% depending on county and loan size) — eligible for 40%–70% reduction via NY CEMA (Consolidation, Extension, and Modification Agreement) on refinances.
Request CEMA assignment from existing lender to save $8,000–$22,000+ in NY mortgage recording tax.
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