1215 E Broadway Unit A-13 · Hewlett, NY 115578

$200,000

2 bd · 2.0 ba · 1,200 sqft · Condo · 238 Days on market

Built 1960 ↓ 20% since listing

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

Listing remarks MLS

First Floor spacious 2 Bedroom, 2 Updated Bath Unit with lovely terrace for outdoor enjoyment. This cozy unit boasts Hardwood flrs, Large Living Rm, Dining Rm, Kitchen with Granite Countertops, many closets, storage & natural lighting. It is perfectly positioned in a highly desirable location, surrounded by park-like, well maintained landscaping, steps from public parking, LIRR, Shopping, Restaurants + More! This is an opportunity not to be overlooked!!! Must see!!!, Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

Key facts

• Hardwood flooring
• Landscaped grounds
• Private patio

Tags

• HARDWOOD FLOORING
• GRANITE COUNTERTOPS
• PRIVATE PATIO
• LANDSCAPED GROUNDS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.6% 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: 1 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• 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 $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 238 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $110k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $176,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 238 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.86% ✓
• Cap rate: 15.64%
• Cash-on-cash: 33.37%
• DSCR: 2.48
• GRM: 4.5

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: 39.1%
• Equity multiple: 3.20×
• Total profit: $123,318
• Equity at exit: $89,929

10-year hold

• IRR: 39.1%
• Equity multiple: 6.36×
• Total profit: $300,128
• Equity at exit: $138,591

Cash invested: $56,000 (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 115578

• Active inventory: 1
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $3,721 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$781
• Net cashflow: $1,557

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 53%

Sensitivity live

Price	-10% $1,695	-5% $1,626	+0% $1,557	+5% $1,488	+10% $1,419
Rent	-10% $1,263	-5% $1,410	+0% $1,557	+5% $1,704	+10% $1,851
Rate	-1.0pp $1,658	-0.5pp $1,608	base $1,557	+0.5pp $1,505	+1.0pp $1,452

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
363 Hewlett Pkwy Hewlett, NY	3.0	1.5	1205	$4,200	$3.49	25d	1	0.47mi
227 Franklin Pl Woodmere, NY	3.0	1.0	950	$3,400	$3.58	45d	1	0.50mi
19 Dartmouth St Valley Stream, NY	3.0	3.5	1439	$4,600	$3.20	0d	1	0.97mi
127 Gordon Rd Valley Stream, NY	3.0	1.0	1200	$3,350	$2.79	45d	1	1.02mi
510 Dubois Ave Apt 3C Valley Stream, NY	2.0	1.5	1050	$3,400	$3.24	45d	1	1.03mi
141 Munro Blvd Valley Stream, NY	1.0	1.0	1000	$1,300	$1.30	19d	1	1.08mi
65 Prospect Ave Apt 15W Lynbrook, NY	2.0	2.0	1060	$3,680	$3.47	23d	1	1.20mi
65 Prospect Ave Unit 2W Lynbrook, NY	1.0	1.0	800	$3,055	$3.82	45d	1	1.20mi
757 Chestnut St Unit 1st Fl Cedarhurst, NY	2.0	2.0	1200	$4,195	$3.50	0d	1	1.23mi
623 Central Ave Unit 306 Cedarhurst, NY	1.0	1.0	1000	$2,550	$2.55	20d	1	1.30mi
601 Chestnut St Unit A-21 Cedarhurst, NY	1.0	1.0	700	$2,850	$4.07	45d	1	1.32mi
120 Maple Ave Unit 2nd FLOOR Cedarhurst, NY	3.0	2.0	1150	$4,275	$3.72	12d	1	1.33mi
35 Gibson Blvd Unit 2 Valley Stream, NY	2.0	1.0	1150	$3,900	$3.39	0d	1	1.34mi

HOA detail condo

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

Listing history 17 events

1. 2026-01-09
   status Pending
2. 2025-10-18
   price $200,000
3. 2025-10-06
   price $230,000
4. 2025-09-27
   price $234,000
5. 2025-09-04
   price $239,000
6. 2025-08-22
   price $249,000
7. 2025-08-07
   price $259,000
8. 2025-07-16
   price $269,000
9. 2025-07-11
   price $265,000
10. 2025-06-09
    price $289,000
11. 2025-05-12
    listed $310,000 Active
12. 2023-11-14
    soldstatus $235,000 Closed 564-char remark

    Show marketing remark (564 chars)

    First Floor spacious 2 Bedroom, 2 Updated Bath Unit with lovely terrace for outdoor enjoyment. This cozy unit boasts Hardwood flrs, Large Living Rm, Dining Rm, Kitchen with Granite Countertops, many closets, storage & natural lighting. It is perfectly positioned in a highly desirable location, surrounded by park-like, well maintained landscaping, steps from public parking, LIRR, Shopping, Restaurants + More! This is an opportunity not to be overlooked!!! Must see!!!, Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

13. 2023-09-01
    status Pending 564-char remark

    Show marketing remark (564 chars)

    First Floor spacious 2 Bedroom, 2 Updated Bath Unit with lovely terrace for outdoor enjoyment. This cozy unit boasts Hardwood flrs, Large Living Rm, Dining Rm, Kitchen with Granite Countertops, many closets, storage & natural lighting. It is perfectly positioned in a highly desirable location, surrounded by park-like, well maintained landscaping, steps from public parking, LIRR, Shopping, Restaurants + More! This is an opportunity not to be overlooked!!! Must see!!!, Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

14. 2023-07-24
    listed $239,500 Active 564-char remark

    Show marketing remark (564 chars)

    First Floor spacious 2 Bedroom, 2 Updated Bath Unit with lovely terrace for outdoor enjoyment. This cozy unit boasts Hardwood flrs, Large Living Rm, Dining Rm, Kitchen with Granite Countertops, many closets, storage & natural lighting. It is perfectly positioned in a highly desirable location, surrounded by park-like, well maintained landscaping, steps from public parking, LIRR, Shopping, Restaurants + More! This is an opportunity not to be overlooked!!! Must see!!!, Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

15. 2020-03-11
    historical
16. 2019-11-22
    status Under Contract
17. 2019-08-19
    listed $249,999 New

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

Taxation est. · year 1

• Rental income: $44,646
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,572
• − Management: −$3,572
• − Depreciation: −$5,818
• Taxable income: $16,481
• Est. tax owed @ 24.0%: −$3,956
• After-tax cash flow: $14,729/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 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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-20.0% since first listed

17 events — show timeline

• 2026-01-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-10-18 Price Changed $200,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-06 Price Changed $230,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-27 Price Changed $234,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-04 Price Changed $239,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-22 Price Changed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-07 Price Changed $259,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-16 Price Changed $269,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-11 Price Changed $265,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-09 Price Changed $289,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-12 Listed $310,000 OneKey® MLS as Distributed by MLS Grid
• 2023-11-14 Sold (MLS) $235,000 OneKey® MLS as Distributed by MLS Grid
• 2023-09-01 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-07-24 Listed $239,500 OneKey® MLS as Distributed by MLS Grid
• 2020-03-11 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-11-22 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-08-19 Listed $249,999 OneKey® MLS as Distributed by MLS Grid