25 Park Pl Unit 2G · Great Neck Plaza, NY 11021

$318,000

1 bd · 1.0 ba · 699 sqft · Condo · 100 Days on market

Built 1960

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Why this score? — see what drove the F 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).

• Schools +7.6/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Cash flow +4.1/30.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

PRIME LOCATION ! WELCOME TO "THE DORSET" -Sun Filled 1 Bedroom - 1 Bath Located in the Heart of Great Neck Plaza - Wonderful "Elevator Building" with Dedicated/Assigned Indoor Parking. ($75.00/month) - Low Maintenance $688/mo - Bike Room - Live-in Supper - Conveniently Located 2 blocks from LIRR with Trains to Grand Central and Penn Station - Minutes from Firefighters (Grace Avenue) Park, Town, Shopping & Library. Residents Enjoy Access to the Great Neck Park District - Olympic Pools, Lazy River , Tennis Courts & Waterfront Steppingstone Park. EM Baker Elementary & Option Great Neck South or North Middle/High Schools.

Key facts

• Lazy river
• Bike room
• Tennis courts

Tags

• ELEVATOR BUILDING
• DEDICATED INDOOR PARKING
• BIKE ROOM
• OLYMPIC POOLS
• LAZY RIVER
• TENNIS COURTS

Property features AI

Finance

• HOA & community: Community amenities: playground, pool, tennis courts; Assigned parking fee

Exterior

• Parking: Assigned covered garage parking; One parking space (fee applies)
• Utilities: PSEG electric; Public sewer; Cable connected; Electricity connected; Natural gas connected; Sewer connected; Private trash collection; Water connected
• Home design: Stock cooperative; One level (unit in a 3-story building); Entry level listed as 2
• Construction: Brick exterior
• Exterior features: Brick construction; Not waterfront; Playground on property; Community pool; Community tennis courts

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator
• Bedrooms: Entry level unit (level 2)
• Flooring: Hardwood floors
• Bathrooms: One full bathroom
• Heating & cooling: Hot water heating (natural gas); Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bath; Accessible approach with ramp; Common basement area; Bicycle room
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $318k.

Deal economics

• At list price, monthly cash flow is $-872 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $310k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $271k (14.7% below list).
• Recommended offer: $271k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 3.0% vs local median 4.4% in Great Neck Plaza — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 85/100 on livability (#35 in NY, #551 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living F.
• Great Neck Union Free School District (suburban): math 86% / reading 83% proficiency, ranked #30 of 590 in NY (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: E M Baker School (math 85% / reading 84%, grade A+, #93 of 2,108 statewide, top 6%, 664 students, 19% FRL); Great Neck South Middle School (math 79% / reading 81%, grade A+, #28 of 729 statewide, top 4%, 861 students, 23% FRL); Great Neck South High School (math 100% / reading 92%, grade A+, #71 of 1,100 statewide, top 7%, 1,262 students, 0% FRL) — zoned schools at 14% FRL track the district average.
• Market conditions: 201 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 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 $10k 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 100 days — a 9% lower offer ($289k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $271,398 (14.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.85% ✗
• Cap rate: 3.00%
• Cash-on-cash: -11.75%
• DSCR: 0.48
• GRM: 9.8

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: -37.5%
• Equity multiple: -0.20×
• Total profit: $-106,498
• Equity at exit: $47,415

10-year hold

• IRR: -52.8%
• Equity multiple: -0.82×
• Total profit: $-162,008
• Equity at exit: $27,495

Cash invested: $89,040 (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 11021

• Active inventory: 201
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,714 high
• Mortgage (P&I): −$1,668
• Tax est. 1.5%: −$398 /mo · $4,770/yr
• Insurance: −$132
• HOA est. from 1 same-building comp: −$818
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $-872

Break-even live

Break-even rent $3,817

Max offer price $191,881

Occupancy floor —

Sensitivity live

Price	-10% $-652	-5% $-762	+0% $-872	+5% $-981	+10% $-1,091
Rent	-10% $-1,086	-5% $-979	+0% $-872	+5% $-764	+10% $-657
Rate	-1.0pp $-711	-0.5pp $-791	base $-872	+0.5pp $-954	+1.0pp $-1,038

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: $79,500
• Closing costs: $9,540
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30 Barstow Rd Unit LL4 Great Neck, NY	—	1.0	415	$1,825	$4.40	46d	1	0.02mi
16 Stoner Ave Unit 2G Great Neck, NY	1.0	1.0	700	$2,800	$4.00	46d	1	0.04mi
7 Bond St Unit 3J Great Neck, NY	1.0	1.0	650	$2,800	$4.31	22d	1	0.14mi
11 Schenck Ave Unit 2D Great Neck Plaza, NY	1.0	1.0	750	$2,200	$2.93	46d	1	0.26mi
17 Schenck Ave Unit 3B Great Neck Plaza, NY	1.0	1.0	700	$2,295	$3.28	15d	1	0.28mi
240 E Shore Rd Great Neck, NY	3.0	1.0–2.5	999	$4,840	$4.84	0d	1	0.87mi

HOA detail condo

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

Listing history 2 events

1. 2026-04-14
   status Pending
2. 2026-01-02
   listed $318,000 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,568
• − Mortgage interest: −$17,813
• − Property taxes: −$4,770
• − Insurance: −$1,590
• − Repairs & maintenance: −$2,605
• − Management: −$2,605
• − HOA: −$9,816
• − Depreciation: −$9,251
• Taxable loss: −$15,883
• Est. tax savings @ 24.0%: +$3,812
• After-tax cash flow: $-6,647/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: Great Neck Union Free School District
• NCES district ID: 3612510
• Math proficiency: 86% ▬ 0.00%
• Reading proficiency: 83% ▬ 0.00%
• Median HH income: $99,939
• Composite: 76.19/100
• National rank: #111
• State rank: #30 of 590 in NY

Livability — Great Neck Plaza

• Score: 85/100
• State rank: #35
• US rank: #551

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: Great Neck Plaza, NY
• County: Nassau County · 653,051 people
• City population: 19,474
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 19,783
• Household income: $120,230
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 601.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 56% Asian 31% Hispanic / Latino 8% Two or more races 5% Black 1%
• Common ancestry: Scotch-Irish 5% Romanian 4% Subsaharan African 1%
• Foreign-born: 36% · China, Canada, South Korea
• Languages at home: 54% English-only · Chinese 16% Other Indo-European 10% Spanish 7%

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: ▼ -736.84%
• Current HPI: 254.751
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

2 events — show timeline

• 2026-04-14 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-02 Listed $318,000 OneKey® MLS as Distributed by MLS Grid