185 South Midddle Neck Rd Unit 1P · Thomaston, NY 11021

$288,000

1 bd · 1.0 ba · 752 sqft · Condo · 16 Days on market

Built 1960

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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 +22.1/30.0
• Schools +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bonus! 6 Mnth Mntenance Rebate.Frsh Paint, Refnishd Flrs & New Light Fxtrs. Close To Rr,Bus Sta & Town. Grt Nk Prk Systm's 19 Parks,30+ Tennis Crts, Olympic Pool/Water Prk,Ice Skating Rnk, Waterfont Park W/Boat Mooring/Club House. Bldg Has Guest Prkng, New Lndry On Flr.Grge $60,Out $30.$24.57 Cap Imprv Assment Til 12/2015. Buyers Pay $5.Sh Flp Tx 295 Shares & Closng Costs, Additional information: Appearance:Clean/Nice,Interior Features:Efficiency Kitchen

Key facts

• Laundry facilities
• L shaped dining room
• Hardwood floors

Tags

• L SHAPED DINING ROOM
• HARDWOOD FLOORS
• LAUNDRY FACILITIES
• GREAT NECK LIRR STATION
• VIBRANT DOWNTOWN GREAT NECK

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $288k.

Deal economics

• At list price, monthly cash flow is $464 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $288k).
• Recommended offer: $284k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#121 in NY, #1,966 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment 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: Saddle Rock School (math 87% / reading 82%, grade A+, #93 of 2,108 statewide, top 6%, 542 students, 16% 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 13% FRL track the district average.
• Market conditions: 200 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• This rent runs 31% of the median local income ($120k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 16 days — a 2% lower offer ($284k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y 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 $130k; list at $288k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $283,680 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.08% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.90%
• DSCR: 1.31
• GRM: 7.7

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: -5.7%
• Equity multiple: 0.79×
• Total profit: $-17,075
• Equity at exit: $42,942

10-year hold

• IRR: 4.0%
• Equity multiple: 1.29×
• Total profit: $23,368
• Equity at exit: $24,901

Cash invested: $80,640 (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: 200
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,107 high
• Mortgage (P&I): −$1,510
• Tax est. 1.5%: −$360 /mo · $4,320/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$652
• Net cashflow: $464

Break-even live

Break-even rent $2,519

Max offer price $288,000

Occupancy floor 80%

Sensitivity live

Price	-10% $663	-5% $563	+0% $464	+5% $364	+10% $265
Rent	-10% $218	-5% $341	+0% $464	+5% $587	+10% $709
Rate	-1.0pp $609	-0.5pp $537	base $464	+0.5pp $389	+1.0pp $313

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: $72,000
• Closing costs: $8,640
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37 Spruce St Unit 2 Great Neck, NY	2.0	1.0	900	$3,500	$3.89	44d	1	0.25mi
12 Welwyn Rd Unit 2P Great Neck Plaza, NY	2.0	1.0	795	$2,735	$3.44	45d	1	0.25mi
17 Schenck Ave Unit 3B Great Neck Plaza, NY	1.0	1.0	700	$2,295	$3.28	13d	1	0.28mi
11 Schenck Ave Unit 2D Great Neck Plaza, NY	1.0	1.0	750	$2,200	$2.93	44d	1	0.31mi
261 Schenck Ave Unit 2nd Floor Great Neck, NY	2.0	1.0	1000	$3,500	$3.50	25d	1	0.49mi
261 Schenck Ave Unit 1st Floor Great Neck, NY	2.0	1.0	975	$3,700	$3.79	25d	1	0.49mi
70 Knightsbridge Rd Unit 3F Great Neck Plaza, NY	2.0	1.0	850	$3,450	$4.06	44d	1	0.49mi
60 Knightsbridge Rd Unit 3F Great Neck Plaza, NY	2.0	1.0	850	$3,550	$4.18	5d	1	0.51mi
7 Bond St Unit 3J Great Neck, NY	1.0	1.0	650	$2,800	$4.31	20d	1	0.51mi
50 Knightsbridge Rd Unit 2B Great Neck Plaza, NY	2.0	1.0	850	$3,450	$4.06	5d	1	0.53mi
16 Stoner Ave Unit 2G Great Neck, NY	1.0	1.0	700	$2,800	$4.00	44d	1	0.59mi
4 Maple Dr Apt 6H Great Neck, NY	1.0	1.0	900	$2,300	$2.56	44d	1	0.60mi
141 Great Neck Rd Unit 2G Great Neck, NY	2.0	1.5	1000	$4,250	$4.25	3d	1	0.61mi
4 Chelsea Pl Apt 3F Great Neck, NY	2.0	2.0	900	$4,600	$5.11	25d	1	0.75mi
240 E Shore Rd Great Neck, NY	3.0	1.0–2.5	999	$4,770	$4.77	2d	1	0.95mi
4212 Marathon Pkwy Little Neck, NY	1.0	1.0	550	$2,375	$4.32	25d	1	1.41mi

HOA detail condo

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

Listing history 14 events

1. 2026-03-30
   status Pending
2. 2026-03-11
   listed $288,000 Active
3. 2014-01-09
   soldstatus $130,000 470-char remark

   Show marketing remark (392 chars)

   Bonus! 6 Mnth Mntenance Rebate. Frsh Paint, Refnishd Flrs & New Light Fxtrs. Close To Rr, Bus Sta & Town. Grt Nk Prk Systm's 19 Parks, 30+ Tennis Crts, Olympic Pool/Water Prk, Ice Skating Rnk, Waterfont Park W/ Boat Mooring/Club House. Bldg Has Guest Prkng, New Lndry On Flr. Grge $60,Out $30.$24.57 Cap Imprv Assment Til 12/2015. Buyers Pay $5.Sh Flp Tx 295 Shares & Closng Costs

4. 2014-01-09
   soldstatus $130,000 Closed 392-char remark

   Show marketing remark (392 chars)

   Bonus! 6 Mnth Mntenance Rebate. Frsh Paint, Refnishd Flrs & New Light Fxtrs. Close To Rr, Bus Sta & Town. Grt Nk Prk Systm's 19 Parks, 30+ Tennis Crts, Olympic Pool/Water Prk, Ice Skating Rnk, Waterfont Park W/ Boat Mooring/Club House. Bldg Has Guest Prkng, New Lndry On Flr. Grge $60,Out $30.$24.57 Cap Imprv Assment Til 12/2015. Buyers Pay $5.Sh Flp Tx 295 Shares & Closng Costs

5. 2013-10-04
   status Under Contract 392-char remark

   Show marketing remark (392 chars)

   Bonus! 6 Mnth Mntenance Rebate. Frsh Paint, Refnishd Flrs & New Light Fxtrs. Close To Rr, Bus Sta & Town. Grt Nk Prk Systm's 19 Parks, 30+ Tennis Crts, Olympic Pool/Water Prk, Ice Skating Rnk, Waterfont Park W/ Boat Mooring/Club House. Bldg Has Guest Prkng, New Lndry On Flr. Grge $60,Out $30.$24.57 Cap Imprv Assment Til 12/2015. Buyers Pay $5.Sh Flp Tx 295 Shares & Closng Costs

6. 2013-09-11
   status Listing Extended 392-char remark

   Show marketing remark (392 chars)

   Bonus! 6 Mnth Mntenance Rebate. Frsh Paint, Refnishd Flrs & New Light Fxtrs. Close To Rr, Bus Sta & Town. Grt Nk Prk Systm's 19 Parks, 30+ Tennis Crts, Olympic Pool/Water Prk, Ice Skating Rnk, Waterfont Park W/ Boat Mooring/Club House. Bldg Has Guest Prkng, New Lndry On Flr. Grge $60,Out $30.$24.57 Cap Imprv Assment Til 12/2015. Buyers Pay $5.Sh Flp Tx 295 Shares & Closng Costs

7. 2013-09-11
   historical 392-char remark

   Show marketing remark (392 chars)

   Bonus! 6 Mnth Mntenance Rebate. Frsh Paint, Refnishd Flrs & New Light Fxtrs. Close To Rr, Bus Sta & Town. Grt Nk Prk Systm's 19 Parks, 30+ Tennis Crts, Olympic Pool/Water Prk, Ice Skating Rnk, Waterfont Park W/ Boat Mooring/Club House. Bldg Has Guest Prkng, New Lndry On Flr. Grge $60,Out $30.$24.57 Cap Imprv Assment Til 12/2015. Buyers Pay $5.Sh Flp Tx 295 Shares & Closng Costs

8. 2013-08-08
   price $139,900 392-char remark

   Show marketing remark (392 chars)

   Bonus! 6 Mnth Mntenance Rebate. Frsh Paint, Refnishd Flrs & New Light Fxtrs. Close To Rr, Bus Sta & Town. Grt Nk Prk Systm's 19 Parks, 30+ Tennis Crts, Olympic Pool/Water Prk, Ice Skating Rnk, Waterfont Park W/ Boat Mooring/Club House. Bldg Has Guest Prkng, New Lndry On Flr. Grge $60,Out $30.$24.57 Cap Imprv Assment Til 12/2015. Buyers Pay $5.Sh Flp Tx 295 Shares & Closng Costs

9. 2013-08-05
   price $139,000 Price Change 392-char remark

   Show marketing remark (392 chars)

   Bonus! 6 Mnth Mntenance Rebate. Frsh Paint, Refnishd Flrs & New Light Fxtrs. Close To Rr, Bus Sta & Town. Grt Nk Prk Systm's 19 Parks, 30+ Tennis Crts, Olympic Pool/Water Prk, Ice Skating Rnk, Waterfont Park W/ Boat Mooring/Club House. Bldg Has Guest Prkng, New Lndry On Flr. Grge $60,Out $30.$24.57 Cap Imprv Assment Til 12/2015. Buyers Pay $5.Sh Flp Tx 295 Shares & Closng Costs

10. 2013-05-14
    price $145,000 Price Change 392-char remark

    Show marketing remark (392 chars)

    Bonus! 6 Mnth Mntenance Rebate. Frsh Paint, Refnishd Flrs & New Light Fxtrs. Close To Rr, Bus Sta & Town. Grt Nk Prk Systm's 19 Parks, 30+ Tennis Crts, Olympic Pool/Water Prk, Ice Skating Rnk, Waterfont Park W/ Boat Mooring/Club House. Bldg Has Guest Prkng, New Lndry On Flr. Grge $60,Out $30.$24.57 Cap Imprv Assment Til 12/2015. Buyers Pay $5.Sh Flp Tx 295 Shares & Closng Costs

11. 2013-03-01
    listed $155,000 New 392-char remark

    Show marketing remark (470 chars)

    Bonus! 6 Mnth Mntenance Rebate.Frsh Paint, Refnishd Flrs & New Light Fxtrs. Close To Rr,Bus Sta & Town. Grt Nk Prk Systm's 19 Parks,30+ Tennis Crts, Olympic Pool/Water Prk,Ice Skating Rnk, Waterfont Park W/Boat Mooring/Club House. Bldg Has Guest Prkng, New Lndry On Flr.Grge $60,Out $30.$24.57 Cap Imprv Assment Til 12/2015. Buyers Pay $5.Sh Flp Tx 295 Shares & Closng Costs, Additional information: Appearance:Clean/Nice,Interior Features:Efficiency Kitchen

12. 2013-03-01
    listed $139,900 470-char remark

    Show marketing remark (470 chars)

    Bonus! 6 Mnth Mntenance Rebate.Frsh Paint, Refnishd Flrs & New Light Fxtrs. Close To Rr,Bus Sta & Town. Grt Nk Prk Systm's 19 Parks,30+ Tennis Crts, Olympic Pool/Water Prk,Ice Skating Rnk, Waterfont Park W/Boat Mooring/Club House. Bldg Has Guest Prkng, New Lndry On Flr.Grge $60,Out $30.$24.57 Cap Imprv Assment Til 12/2015. Buyers Pay $5.Sh Flp Tx 295 Shares & Closng Costs, Additional information: Appearance:Clean/Nice,Interior Features:Efficiency Kitchen

13. 2013-02-10
    historical
14. 2012-10-10
    listed $165,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 15 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: $37,279
• − Mortgage interest: −$16,132
• − Property taxes: −$4,320
• − Insurance: −$1,440
• − Repairs & maintenance: −$2,982
• − Management: −$2,982
• − Depreciation: −$8,378
• Taxable income: $1,044
• Est. tax owed @ 24.0%: −$251
• After-tax cash flow: $5,316/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 — Thomaston

• Score: 80/100
• State rank: #121
• US rank: #1966

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thomaston, NY
• County: Nassau County · 653,051 people
• 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

+74.5% since first listed

14 events — show timeline

• 2026-03-30 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-11 Listed $288,000 OneKey® MLS as Distributed by MLS Grid
• 2014-01-09 Sold (MLS) $130,000 MLSLI
• 2014-01-09 Sold (MLS) $130,000 OneKey® MLS as Distributed by MLS Grid
• 2013-10-04 Pending — MLSLI
• 2013-09-11 Relisted — MLSLI
• 2013-09-11 Delisted — MLSLI
• 2013-08-08 Price Changed $139,900 MLSLI
• 2013-08-05 Price Changed $139,000 MLSLI
• 2013-05-14 Price Changed $145,000 MLSLI
• 2013-03-01 Listed $155,000 MLSLI
• 2013-03-01 Listed $139,900 OneKey® MLS as Distributed by MLS Grid
• 2013-02-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-10-10 Listed $165,000 OneKey® MLS as Distributed by MLS Grid