1213 E Broadway Unit B24 · Hewlett, NY 11557

$245,000

2 bd · 2.0 ba · 700 sqft · Condo · 48 Days on market

Built 1955 $350/sqft · 18% above area Est $208k · 18% over

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Why this score? — see what drove the C 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 +25.3/30.0
• DSCR +8.3/10.0
• Schools +7.0/10.0
• 1% rule +6.6/10.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Spacious Open Floor Plan Two Bed Two Full Bath Unit. Enter This Bright & Sunny Top Floor Apartment Through Ample Foyer With Cedar Lined Large Closet. Ahead Is Galley Kitchen With Counter With Seating By Scenic Window. Substantially Sized Living Room/Dining Room Perfect For Entertaining. Elegant Crown Moldings Throughout. Hardwood Floors and New Baseboard Heating. Huge Master Bedroom With Renovated Bathroom, Two Closets, Private Terrace. Second Sizeable Bedroom, And Full Updated Bathroom Make For Easy Living. Stackable Washer/Dryer In Closet. Building Amenities Include Laundry Rm, Bike Rm. Extensive Beautifully Landscaped Parklike Grounds. Close To All.

Key facts

• Open floor plan
• Galley kitchen
• Cedar lined closet

Tags

• OPEN FLOOR PLAN
• GALLEY KITCHEN
• CEDAR LINED CLOSET
• SCENIC WINDOW
• LIVING ROOM DINING ROOM
• CROWN MOLDINGS

Property features AI

Finance

• HOA & community: Monthly association fee; Association covers common area maintenance, exterior maintenance, grounds care, snow removal, trash, and water; Association amenities include landscaping and grounds maintenance

Exterior

• Parking: Off-street parking
• Utilities: Electric service by PSEG; Public sewer; Trash collection (public)
• Home design: Stock cooperative; Two-story building (unit on second/top floor); Entry level: 2
• Construction: Brick construction; Other foundation
• Exterior features: Balcony; Courtyard; Garden; Landscaped grounds; Private lot features; Near public transit; Near shops

Interior

• Kitchen: Galley-style kitchen; Oven; Refrigerator
• Bedrooms: Located on the second/top floor
• Flooring: Wood flooring; Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; No central cooling
• Interior features: Crown molding; Galley kitchen; His and hers closets; Primary bathroom; Washer/dryer hookup; Terrace patio/porch
• Laundry & utility: In-unit washer and dryer; Common area laundry available; Washer and dryer included (appliances listed)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $245k.

Deal economics

• At list price, monthly cash flow is $503 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $238k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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: Franklin Early Childhood Center (422 students, 25% 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; 1 comparable units currently listed for rent nearby; 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 $7k 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.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 12y 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 $128k; list at $245k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1955 — 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 $237,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.16% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.77%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

• ARV (median comp): $207,680
• List price: $245,000
• Delta: 17.97%
• Verdict: OVERPRICED
• Comps: 19 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-7,599
• Equity at exit: $36,530

10-year hold

• IRR: 6.8%
• Equity multiple: 1.51×
• Total profit: $34,934
• Equity at exit: $21,183

Cash invested: $68,600 (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: 7.2×

Monthly cashflow live

• Estimated rent: $2,850 medium
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$598
• Net cashflow: $503

Break-even live

Break-even rent $2,214

Max offer price $245,000

Occupancy floor 77%

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
601 Chestnut St Unit A-21 Cedarhurst, NY	1.0	1.0	700	$2,850	$4.07	43d	1	1.36mi

HOA detail condo

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

Listing history 41 events

1. 2026-06-18
   days on market $245,000 Active 48 DOM
2. 2026-06-17
   days on market $245,000 Active 47 DOM
3. 2026-06-16
   days on market $245,000 Active 46 DOM
4. 2026-06-15
   days on market $245,000 Active 45 DOM
5. 2026-06-13
   days on market $245,000 Active 43 DOM
6. 2026-06-13
   days on market $245,000 Active 42 DOM
7. 2026-06-09
   days on market $245,000 Active 39 DOM
8. 2026-06-08
   days on market $245,000 Active 38 DOM
9. 2026-06-07
   days on market $245,000 Active 37 DOM
10. 2026-06-04
    days on market $245,000 Active 34 DOM
11. 2026-06-03
    days on market $245,000 Active 33 DOM
12. 2026-06-02
    days on market $245,000 Active 32 DOM
13. 2026-06-01
    days on market $245,000 Active 31 DOM
14. 2026-05-31
    days on market $245,000 Active 30 DOM
15. 2026-05-01
    listed $245,000 Active 664-char remark
16. 2026-04-03
    status Pending
17. 2026-02-25
    status Pending
18. 2026-01-24
    historical
19. 2026-01-24
    historical
20. 2026-01-23
    status Active
21. 2025-07-31
    status Pending
22. 2025-04-29
    status Active
23. 2025-04-10
    status Pending
24. 2024-11-16
    price $245,000
25. 2024-07-25
    listed $254,000 Active
26. 2020-12-28
    historical
27. 2020-08-19
    listed $279,000 Active
28. 2016-11-09
    soldstatus $127,500
29. 2016-11-09
    soldstatus $127,500 Closed
30. 2016-08-04
    status Under Contract
31. 2016-04-06
    price $129,900
32. 2016-02-05
    status Price Change
33. 2016-02-05
    price $139,900
34. 2015-10-28
    status Under Contract
35. 2015-09-22
    status Back On Market
36. 2015-06-24
    status Under Contract
37. 2015-04-22
    price $128,000
38. 2015-04-09
    listed $119,000 New
39. 2015-04-09
    historical
40. 2015-04-09
    listed $129,900
41. 2014-02-26
    listed $130,000

ⓘ 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: $34,200
• − Mortgage interest: −$13,724
• − Property taxes: −$3,675
• − Insurance: −$1,892
• − Repairs & maintenance: −$2,736
• − Management: −$2,736
• − Depreciation: −$7,127
• Taxable income: $2,310
• Est. tax owed @ 24.0%: −$555
• After-tax cash flow: $5,479/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

+88.5% since first listed

27 events — show timeline

• 2026-05-01 Listed $245,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-03 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-25 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-24 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-24 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-23 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-07-31 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-04-29 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-04-10 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-11-16 Price Changed $245,000 OneKey® MLS as Distributed by MLS Grid
• 2024-07-25 Listed $254,000 OneKey® MLS as Distributed by MLS Grid
• 2020-12-28 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-08-19 Listed $279,000 OneKey® MLS as Distributed by MLS Grid
• 2016-11-09 Sold (MLS) $127,500 OneKey® MLS as Distributed by MLS Grid
• 2016-11-09 Sold (MLS) $127,500 MLSLI
• 2016-08-04 Pending — MLSLI
• 2016-04-06 Price Changed $129,900 MLSLI
• 2016-02-05 Price Changed $139,900 MLSLI
• 2016-02-05 Relisted — MLSLI
• 2015-10-28 Pending — MLSLI
• 2015-09-22 Relisted — MLSLI
• 2015-06-24 Pending — MLSLI
• 2015-04-22 Price Changed $128,000 MLSLI
• 2015-04-09 Listed $119,000 MLSLI
• 2015-04-09 Listed $129,900 OneKey® MLS as Distributed by MLS Grid
• 2015-04-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-02-26 Listed $130,000 OneKey® MLS as Distributed by MLS Grid