1195 E Broadway Unit L23 · Hewlett, NY 11557

$209,000

2 bd · 2.0 ba · 999 sqft · Condo · 48 Days on market

Built 1955 $209/sqft · 15% below area Est $246k · 15% under $2697/mo HOA · 84% of rent ↓ 19% since listing

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

• ARV discount +14.2/15.0
• 1% rule +10.0/10.0
• Schools +7.0/10.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Sunny & Bright 2 Bedroom, 2 Bath Coop in Garden Town Community! Located in the Heart of Hewlett/Old Woodmere, Hewlett Woodmere SD#14. This Apartment Features Spacious Living Room/ Dining Room Area, Updated Granite/ Wood Kitchen with Stainless Steel Appliances, Primary Bedroom with Ensuite Bath & Closet Systems, Second Bedroom, Full Bath & A Terrace for Your Enjoyment. Hardwood Floors, Ceiling Fans & Newer AC Units. Washer/Dryer Hook Up in Kitchen or Newly Remodeled Community Laundry Room. Garage Parking $50 Per Month & Large Municipal Lot Steps Away. Conveniently Located Near LIRR, Shopping, Restaurants & Houses of Worship. Maintenance Includes Taxes, Hea

Key facts

• Terrace
• Closet systems
• Full bath

Tags

• UPDATED GRANITE WOOD KITCHEN
• STAINLESS STEEL APPLIANCES
• CLOSET SYSTEMS
• FULL BATH
• TERRACE
• HARDWOOD FLOORS

Property features AI

Finance

• HOA & community: Cooperative association with monthly fee of $2,697; Association covers heat, water, sewer, trash, exterior and common area maintenance, grounds care, snow removal, and landscaping

Exterior

• Parking: 1-car garage; Additional parking lot available (parking fee applies: $50)
• Utilities: Electricity connected (PSEG); Natural gas connected; Public water connected; Public sewer; Trash collection (public)
• Home design: Stock cooperative; Two-story building; Entry on level 2; Brick construction; Actual property condition
• Construction: Brick construction
• Exterior features: Balcony; Garden; Near public transit; Near shops; Front and rear sprinklers

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Refrigerator; Stainless steel appliances
• Bedrooms: 3 bedrooms (total rooms: 5)
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating (natural gas); Wall/window air conditioning units
• Interior features: Ceiling fans; Chef's kitchen; Entrance foyer; Formal dining area; Granite countertops; Primary bathroom; Recessed lighting; Washer/dryer hookup; Terrace; Scuttle attic; Bicycle room; Outdoor space; Walk-up access
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $209k.

Deal economics

• At list price, monthly cash flow is $-2k ($-19k/yr) — negative.
• Rent doesn't cover operating costs at any purchase price — skip.
• Meets the 1% rule at list price ($3k rent vs $209k).
• Recommended offer: $203k (3.0% below list) — sets the bar for market timing.
• Cap rate -2.8% vs local median 2.7% in Hewlett — 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 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; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $6k 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 ($203k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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.

Risks & watch-outs

• Watch-outs: HOA is 84% of rent; 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 $202,730 (3.0% 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 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — 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. 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. 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?
9. 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.
10. 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.
11. 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: 1.55% ✓
• Cap rate: -2.84%
• Cash-on-cash: -32.61%
• DSCR: -0.45
• GRM: 5.4

CMA / ARV

• ARV (median comp): $245,813
• List price: $209,000
• Delta: -14.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -93.3%
• Equity multiple: -1.28×
• Total profit: $-133,449
• Equity at exit: $31,163

10-year hold

• IRR: —
• Equity multiple: -3.10×
• Total profit: $-239,699
• Equity at exit: $18,071

Cash invested: $58,520 (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: 5.4×

Monthly cashflow live

• Estimated rent: $3,229 high
• Mortgage (P&I): −$1,096
• Tax est. 1.5%: −$261 /mo · $3,135/yr
• Insurance: −$87
• HOA: −$2,697
• Vacancy / Maint / Mgmt: −$678
• Net cashflow: $-1,590

Break-even live

Break-even rent $5,242

Max offer price —

Occupancy floor —

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
227 Franklin Pl Woodmere, NY	3.0	1.0	950	$3,400	$3.58	44d	1	0.50mi
510 Dubois Ave Apt 3C Valley Stream, NY	2.0	1.5	1050	$3,400	$3.24	44d	1	1.03mi
141 Munro Blvd Valley Stream, NY	1.0	1.0	1000	$1,300	$1.30	17d	1	1.08mi
65 Prospect Ave Apt 15W Lynbrook, NY	2.0	2.0	1060	$3,680	$3.47	22d	1	1.20mi
65 Prospect Ave Unit 2W Lynbrook, NY	1.0	1.0	800	$3,055	$3.82	44d	1	1.20mi
623 Central Ave Unit 306 Cedarhurst, NY	1.0	1.0	1000	$2,550	$2.55	19d	1	1.30mi
601 Chestnut St Unit A-21 Cedarhurst, NY	1.0	1.0	700	$2,850	$4.07	44d	1	1.32mi

HOA detail condo

• Monthly dues: $2,697 · $32,364/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $209,000 Active 48 DOM
2. 2026-06-17
   days on market $209,000 Active 47 DOM
3. 2026-06-16
   days on market $209,000 Active 46 DOM
4. 2026-06-15
   days on market $209,000 Active 45 DOM
5. 2026-06-13
   days on market $209,000 Active 43 DOM
6. 2026-06-13
   days on market $209,000 Active 42 DOM
7. 2026-06-09
   days on market $209,000 Active 39 DOM
8. 2026-06-08
   days on market $209,000 Active 38 DOM
9. 2026-06-07
   days on market $209,000 Active 37 DOM
10. 2026-06-04
    days on market $209,000 Active 34 DOM
11. 2026-06-03
    days on market $209,000 Active 33 DOM
12. 2026-06-02
    days on market $209,000 Active 32 DOM
13. 2026-06-01
    days on market $209,000 Active 31 DOM
14. 2026-05-31
    days on market $209,000 Active 30 DOM
15. 2026-04-29
    listed $209,000 Active 719-char remark
16. 2026-01-29
    status Pending
17. 2026-01-29
    historical
18. 2025-10-17
    price $229,000
19. 2025-09-18
    listed $235,000 Active
20. 2020-03-20
    historical
21. 2019-11-07
    listed $257,500 New

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 74% 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: $38,750
• − Mortgage interest: −$11,707
• − Property taxes: −$3,135
• − Insurance: −$1,045
• − Repairs & maintenance: −$3,100
• − Management: −$3,100
• − HOA: −$32,364
• − Depreciation: −$6,080
• Taxable loss: −$21,781
• Est. tax savings @ 24.0%: +$5,228
• After-tax cash flow: $-13,856/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

-18.8% since first listed

7 events — show timeline

• 2026-04-29 Listed $209,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-29 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-29 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-10-17 Price Changed $229,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-18 Listed $235,000 OneKey® MLS as Distributed by MLS Grid
• 2020-03-20 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-11-07 Listed $257,500 OneKey® MLS as Distributed by MLS Grid