1209 E Broadway Unit D15 · Hewlett, NY 11557

$250,000

2 bd · 2.0 ba · 1,026 sqft · Condo · 74 Days on market

Built 1950

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Schools +7.0/10.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent and Spacious 2 Bedroom, 2 Bath Garden Apartment with a Rear Terrace. Motivated Seller. The unit is on the 1st floor and is one of the Largest 2 Bedroom units (1026 Square feet) in the development. Being Sold As-Is. There are Hardwood Floors throughout, even underneath the carpet. Both Bedrooms are Large and the Master Bedroom has a Full Bath and Walk-in Closet. Other features are French doors leading to the Dining Room, ceiling fans in the Living Room and Bedrooms, Plenty of Closets, Large Windows throughout, 1 Air conditioner, and a medium-sized terrace. There is a Very Large Municipal Parking Lot for free parking as well as Underground Parking for $60/month per car. Exceptionally Maintained Gardens and Courtyard. There is a Laundry Room on the Premises. Very Desirable Location near the Long Island Railroad, Shopping & Restaurants. No Flip Tax. Cats Allowed., Additional information: Appearance:Excellent

Key facts

• Quartz countertops
• Brick exterior
• Serene courtyard

Tags

• BRICK EXTERIOR
• PRIVATE REAR TERRACE
• SERENE COURTYARD
• FULLY RENOVATED KITCHEN
• NEW STAINLESS STEEL APPLIANCES
• QUARTZ COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $235k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 2.7% in Hewlett — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 89/100 on livability (#7 in NY, #165 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living F.
• Hewlett-Woodmere Union Free School District (suburban): math 72% / reading 79% proficiency, ranked #59 of 590 in NY (top 10%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Hewlett Elementary School (math 57% / reading 72%, grade B, #591 of 2,108 statewide, top 31%, 403 students, 26% FRL); Woodmere Middle School (math 62% / reading 73%, grade A-, #98 of 729 statewide, top 14%, 716 students, 26% FRL); George W Hewlett High School (math 95% / reading 97%, grade A+, #68 of 1,100 statewide, top 6%, 999 students, 26% FRL).
• Market conditions: 71 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Nassau County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $195k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 70% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $235,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.43% ✓
• Cap rate: 11.59%
• Cash-on-cash: 18.92%
• DSCR: 1.84
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.5%
• Equity multiple: 1.38×
• Total profit: $26,315
• Equity at exit: $37,276

10-year hold

• IRR: 18.7%
• Equity multiple: 2.56×
• Total profit: $109,209
• Equity at exit: $21,615

Cash invested: $70,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 11557

• Active inventory: 71
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $3,584 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$753
• Net cashflow: $1,048

Break-even live

Break-even rent $2,257

Max offer price $250,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,221	-5% $1,134	+0% $1,048	+5% $961	+10% $875
Rent	-10% $765	-5% $906	+0% $1,048	+5% $1,189	+10% $1,331
Rate	-1.0pp $1,174	-0.5pp $1,111	base $1,048	+0.5pp $983	+1.0pp $917

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
363 Hewlett Pkwy Hewlett, NY	3.0	1.5	1205	$4,200	$3.49	24d	1	0.44mi
227 Franklin Pl Woodmere, NY	3.0	1.0	950	$3,400	$3.58	44d	1	0.55mi
19 Dartmouth St Valley Stream, NY	3.0	3.5	1439	$4,600	$3.20	2d	1	0.91mi
127 Gordon Rd Valley Stream, NY	3.0	1.0	1200	$3,350	$2.79	44d	1	0.94mi
510 Dubois Ave Apt 3C Valley Stream, NY	2.0	1.5	1050	$3,400	$3.24	44d	1	0.97mi
141 Munro Blvd Valley Stream, NY	1.0	1.0	1000	$1,300	$1.30	18d	1	1.00mi
65 Prospect Ave Unit 2W Lynbrook, NY	1.0	1.0	800	$3,055	$3.82	44d	1	1.11mi
65 Prospect Ave Apt 15W Lynbrook, NY	2.0	2.0	1060	$3,680	$3.47	22d	1	1.11mi
757 Chestnut St Unit 1st Fl Cedarhurst, NY	2.0	2.0	1200	$4,195	$3.50	2d	1	1.32mi
623 Central Ave Unit 306 Cedarhurst, NY	1.0	1.0	1000	$2,550	$2.55	19d	1	1.38mi
601 Chestnut St Unit A-21 Cedarhurst, NY	1.0	1.0	700	$2,850	$4.07	44d	1	1.40mi
120 Maple Ave Unit 2nd FLOOR Cedarhurst, NY	3.0	2.0	1150	$4,275	$3.72	11d	1	1.42mi
92 Wavecrest St Valley Stream, NY	2.0	1.0	1200	$2,800	$2.33	24d	1	1.44mi
23 Thompson Pl Unit 2 Lynbrook, NY	3.0	1.0	900	$3,100	$3.44	19d	1	1.49mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-02-03
   status Pending
2. 2025-11-21
   listed $250,000 Active
3. 2022-05-10
   soldstatus $195,000 Closed 931-char remark

   Show marketing remark (931 chars)

   Excellent and Spacious 2 Bedroom, 2 Bath Garden Apartment with a Rear Terrace. Motivated Seller. The unit is on the 1st floor and is one of the Largest 2 Bedroom units (1026 Square feet) in the development. Being Sold As-Is. There are Hardwood Floors throughout, even underneath the carpet. Both Bedrooms are Large and the Master Bedroom has a Full Bath and Walk-in Closet. Other features are French doors leading to the Dining Room, ceiling fans in the Living Room and Bedrooms, Plenty of Closets, Large Windows throughout, 1 Air conditioner, and a medium-sized terrace. There is a Very Large Municipal Parking Lot for free parking as well as Underground Parking for $60/month per car. Exceptionally Maintained Gardens and Courtyard. There is a Laundry Room on the Premises. Very Desirable Location near the Long Island Railroad, Shopping & Restaurants. No Flip Tax. Cats Allowed., Additional information: Appearance:Excellent

4. 2022-02-13
   status Pending 931-char remark

   Show marketing remark (931 chars)

   Excellent and Spacious 2 Bedroom, 2 Bath Garden Apartment with a Rear Terrace. Motivated Seller. The unit is on the 1st floor and is one of the Largest 2 Bedroom units (1026 Square feet) in the development. Being Sold As-Is. There are Hardwood Floors throughout, even underneath the carpet. Both Bedrooms are Large and the Master Bedroom has a Full Bath and Walk-in Closet. Other features are French doors leading to the Dining Room, ceiling fans in the Living Room and Bedrooms, Plenty of Closets, Large Windows throughout, 1 Air conditioner, and a medium-sized terrace. There is a Very Large Municipal Parking Lot for free parking as well as Underground Parking for $60/month per car. Exceptionally Maintained Gardens and Courtyard. There is a Laundry Room on the Premises. Very Desirable Location near the Long Island Railroad, Shopping & Restaurants. No Flip Tax. Cats Allowed., Additional information: Appearance:Excellent

5. 2022-01-07
   price $200,000 931-char remark

   Show marketing remark (931 chars)

   Excellent and Spacious 2 Bedroom, 2 Bath Garden Apartment with a Rear Terrace. Motivated Seller. The unit is on the 1st floor and is one of the Largest 2 Bedroom units (1026 Square feet) in the development. Being Sold As-Is. There are Hardwood Floors throughout, even underneath the carpet. Both Bedrooms are Large and the Master Bedroom has a Full Bath and Walk-in Closet. Other features are French doors leading to the Dining Room, ceiling fans in the Living Room and Bedrooms, Plenty of Closets, Large Windows throughout, 1 Air conditioner, and a medium-sized terrace. There is a Very Large Municipal Parking Lot for free parking as well as Underground Parking for $60/month per car. Exceptionally Maintained Gardens and Courtyard. There is a Laundry Room on the Premises. Very Desirable Location near the Long Island Railroad, Shopping & Restaurants. No Flip Tax. Cats Allowed., Additional information: Appearance:Excellent

6. 2022-01-07
   status Active 931-char remark

   Show marketing remark (931 chars)

   Excellent and Spacious 2 Bedroom, 2 Bath Garden Apartment with a Rear Terrace. Motivated Seller. The unit is on the 1st floor and is one of the Largest 2 Bedroom units (1026 Square feet) in the development. Being Sold As-Is. There are Hardwood Floors throughout, even underneath the carpet. Both Bedrooms are Large and the Master Bedroom has a Full Bath and Walk-in Closet. Other features are French doors leading to the Dining Room, ceiling fans in the Living Room and Bedrooms, Plenty of Closets, Large Windows throughout, 1 Air conditioner, and a medium-sized terrace. There is a Very Large Municipal Parking Lot for free parking as well as Underground Parking for $60/month per car. Exceptionally Maintained Gardens and Courtyard. There is a Laundry Room on the Premises. Very Desirable Location near the Long Island Railroad, Shopping & Restaurants. No Flip Tax. Cats Allowed., Additional information: Appearance:Excellent

7. 2021-10-25
   status Pending 931-char remark

   Show marketing remark (931 chars)

   Excellent and Spacious 2 Bedroom, 2 Bath Garden Apartment with a Rear Terrace. Motivated Seller. The unit is on the 1st floor and is one of the Largest 2 Bedroom units (1026 Square feet) in the development. Being Sold As-Is. There are Hardwood Floors throughout, even underneath the carpet. Both Bedrooms are Large and the Master Bedroom has a Full Bath and Walk-in Closet. Other features are French doors leading to the Dining Room, ceiling fans in the Living Room and Bedrooms, Plenty of Closets, Large Windows throughout, 1 Air conditioner, and a medium-sized terrace. There is a Very Large Municipal Parking Lot for free parking as well as Underground Parking for $60/month per car. Exceptionally Maintained Gardens and Courtyard. There is a Laundry Room on the Premises. Very Desirable Location near the Long Island Railroad, Shopping & Restaurants. No Flip Tax. Cats Allowed., Additional information: Appearance:Excellent

8. 2021-10-07
   price $215,000 931-char remark

   Show marketing remark (931 chars)

   Excellent and Spacious 2 Bedroom, 2 Bath Garden Apartment with a Rear Terrace. Motivated Seller. The unit is on the 1st floor and is one of the Largest 2 Bedroom units (1026 Square feet) in the development. Being Sold As-Is. There are Hardwood Floors throughout, even underneath the carpet. Both Bedrooms are Large and the Master Bedroom has a Full Bath and Walk-in Closet. Other features are French doors leading to the Dining Room, ceiling fans in the Living Room and Bedrooms, Plenty of Closets, Large Windows throughout, 1 Air conditioner, and a medium-sized terrace. There is a Very Large Municipal Parking Lot for free parking as well as Underground Parking for $60/month per car. Exceptionally Maintained Gardens and Courtyard. There is a Laundry Room on the Premises. Very Desirable Location near the Long Island Railroad, Shopping & Restaurants. No Flip Tax. Cats Allowed., Additional information: Appearance:Excellent

9. 2021-08-17
   price $230,000 931-char remark

   Show marketing remark (931 chars)

   Excellent and Spacious 2 Bedroom, 2 Bath Garden Apartment with a Rear Terrace. Motivated Seller. The unit is on the 1st floor and is one of the Largest 2 Bedroom units (1026 Square feet) in the development. Being Sold As-Is. There are Hardwood Floors throughout, even underneath the carpet. Both Bedrooms are Large and the Master Bedroom has a Full Bath and Walk-in Closet. Other features are French doors leading to the Dining Room, ceiling fans in the Living Room and Bedrooms, Plenty of Closets, Large Windows throughout, 1 Air conditioner, and a medium-sized terrace. There is a Very Large Municipal Parking Lot for free parking as well as Underground Parking for $60/month per car. Exceptionally Maintained Gardens and Courtyard. There is a Laundry Room on the Premises. Very Desirable Location near the Long Island Railroad, Shopping & Restaurants. No Flip Tax. Cats Allowed., Additional information: Appearance:Excellent

10. 2021-08-08
    listed $249,999 Active 931-char remark

    Show marketing remark (931 chars)

    Excellent and Spacious 2 Bedroom, 2 Bath Garden Apartment with a Rear Terrace. Motivated Seller. The unit is on the 1st floor and is one of the Largest 2 Bedroom units (1026 Square feet) in the development. Being Sold As-Is. There are Hardwood Floors throughout, even underneath the carpet. Both Bedrooms are Large and the Master Bedroom has a Full Bath and Walk-in Closet. Other features are French doors leading to the Dining Room, ceiling fans in the Living Room and Bedrooms, Plenty of Closets, Large Windows throughout, 1 Air conditioner, and a medium-sized terrace. There is a Very Large Municipal Parking Lot for free parking as well as Underground Parking for $60/month per car. Exceptionally Maintained Gardens and Courtyard. There is a Laundry Room on the Premises. Very Desirable Location near the Long Island Railroad, Shopping & Restaurants. No Flip Tax. Cats Allowed., Additional information: Appearance:Excellent

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,004
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,916
• − Repairs & maintenance: −$3,440
• − Management: −$3,440
• − Depreciation: −$7,273
• Taxable income: $9,180
• Est. tax owed @ 24.0%: −$2,203
• After-tax cash flow: $10,371/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Hewlett-Woodmere Union Free School District
• NCES district ID: 3631710
• Math proficiency: 72% ▼ -7.00%
• Reading proficiency: 79% ▼ -3.00%
• Median HH income: $112,656
• Composite: 69.89/100
• National rank: #287
• State rank: #59 of 590 in NY

Livability — Hewlett

• Score: 89/100
• State rank: #7
• US rank: #165

Category grades

Amenities A+ Commute A+ Cost of living F Crime A+ Employment A+ Housing A Health & safety A User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hewlett, NY
• Population (ZIP): 8,503

Population outlook (Nassau County) Hauer SSP2

• Today (2025): 1,409,302 people
• By 2030: 1,431,482 · +1.6%
• By 2040: 1,471,607 · +4.4%
• By 2050: 1,502,845 · +6.6%
• By 2075: 1,575,403 · +11.8%
• By 2100: 1,554,356 · +10.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Asian 9% Hispanic / Latino 8% Black 6% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Scotch-Irish 5% Romanian 4% Danish 2%
• Foreign-born: 19% · Canada, Vietnam, China
• Languages at home: 74% English-only · Russian/Polish/Slavic 6% Spanish 6% Other Indo-European 4%

Political lean MEDSL · Nassau

• 2024 margin: Toss-up / Even · D 47.9% · R 52.1%
• 2008→2024 swing: -12.6pp toward R · 2008: 8.4pp · 2024: -4.2pp
• All cycles: 2024: R+4.2 2020: D+9.5 2016: D+5.3 2012: D+6.7 2008: D+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -218.62%
• Current HPI: 273.9904
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+0.0% since first listed

10 events — show timeline

• 2026-02-03 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-11-21 Listed $250,000 OneKey® MLS as Distributed by MLS Grid
• 2022-05-10 Sold (MLS) $195,000 OneKey® MLS as Distributed by MLS Grid
• 2022-02-13 Pending — OneKey® MLS as Distributed by MLS Grid
• 2022-01-07 Price Changed $200,000 OneKey® MLS as Distributed by MLS Grid
• 2022-01-07 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2021-10-25 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-10-07 Price Changed $215,000 OneKey® MLS as Distributed by MLS Grid
• 2021-08-17 Price Changed $230,000 OneKey® MLS as Distributed by MLS Grid
• 2021-08-08 Listed $249,999 OneKey® MLS as Distributed by MLS Grid