2001 Park St · Atlantic Beach, NY 11509

$1,099,000

2 bd · 2.5 ba · 2,700 sqft · MultiFamily · 98 Days on market

Built 1928 4,000 sqft lot

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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 +29.6/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Rare Atlantic Beach NY Mixed-Use Corner Property Available for Sale down the block from the Beach! This beautiful corner building that is approx 2,700 SF, includes a 2 Bed/1 Bath large Apartment with a deck at the Rear, a Large Coffee Shop in the front and a large windowed Lower Level on the corner of Park St and Broome Ave! This building boasts windows on all sides, providing abundant natural light, and includes an additional adjacent 20 x 85 corner lot on Broome Ave! Building Size: Approx. 2,700 SF, Total Lot Size: Approx. 4,400 SF (including 1,700 SF parking lot) Residential Apartment: Spacious 2-bedroom renovated apartment with modern finishes Commercial Store: Renovated coffee shop

Key facts

• Separate entrance
• Flexible use
• Mixed-use property

Tags

• MIXED-USE PROPERTY
• RENOVATED COFFEE SHOP
• SPACIOUS TWO-BEDROOM RESIDENCE
• FULLY RENOVATED LOWER LEVEL
• SEPARATE ENTRANCE
• FLEXIBLE USE

Property features AI

Exterior

• Parking: Assigned parking; Driveway parking; Off-street parking; On-street parking; Total of 8 parking spaces
• Utilities: Public sewer; Cable available; Electricity available; Natural gas available; Water available; Sewer available
• Home design: Single-family residence
• Construction: Block, brick and stucco construction
• Exterior features: Not waterfront

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator; Stainless steel appliances
• Bedrooms: Includes a first-floor bedroom
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: First-floor bedroom; No basement; No attic; 10 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $4k ($47k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $1.10M).
• Recommended offer: $1.00M (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#376 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, cost of living F.
• Lawrence Union Free School District (suburban): math 43% / reading 46% proficiency, ranked #399 of 590 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 31 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $117k of equity ($8k loan paydown + $110k appreciation (10.0% local appreciation)).
• Nassau County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $308k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$189k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($1.00M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $151k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,000,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.33% ✓
• Cap rate: 10.61%
• Cash-on-cash: 15.41%
• DSCR: 1.69
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.7%
• Equity multiple: 3.76×
• Total profit: $850,451
• Equity at exit: $990,066

10-year hold

• IRR: 30.7%
• Equity multiple: 8.50×
• Total profit: $2,306,952
• Equity at exit: $2,135,115

Cash invested: $307,720 (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 11509

• Home prices YoY: 2.9%
• Active inventory: 31
• Price-to-rent: 31.3×

Monthly cashflow live

• Estimated rent: $14,616 medium
• Mortgage (P&I): −$5,763
• Tax est. 1.5%: −$1,374 /mo · $16,485/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,069
• Net cashflow: $3,952

Break-even live

Break-even rent $9,614

Max offer price $1,099,000

Occupancy floor 68%

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	2	2.5	$14,615
Total (5 units)			$14,616

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: $274,750
• Closing costs: $32,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29 Cayuga Ave Atlantic Beach, NY	3.0	3.0	2424	$30,000	$12.38	43d	1	0.10mi
2175 Bay Blvd Atlantic Beach, NY	3.0	2.5	2178	$6,499	$2.98	24d	1	0.41mi
1-57 Beach 25th St Far Rockaway, NY	3.0	2.0	3000	$3,700	$1.23	24d	1	1.28mi

Listing history 7 events

1. 2026-04-20
   status Pending
2. 2026-03-12
   price $1,099,000
3. 2026-01-12
   listed $1,250,000 Active
4. 2024-12-21
   historical
5. 2024-05-24
   listed $1,399,000 Active
6. 2023-12-16
   historical $2,800
7. 2023-09-22
   listed $2,800

ⓘ 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: $175,392
• − Mortgage interest: −$61,561
• − Property taxes: −$16,485
• − Insurance: −$5,495
• − Repairs & maintenance: −$14,031
• − Management: −$14,031
• − Depreciation: −$31,971
• Taxable income: $31,817
• Est. tax owed @ 24.0%: −$7,636
• After-tax cash flow: $39,784/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: Lawrence Union Free School District
• NCES district ID: 3616830
• Math proficiency: 43% ▼ -2.00%
• Reading proficiency: 46% ▼ -8.00%
• Median HH income: $91,008
• Composite: 42.14/100
• National rank: #3307
• State rank: #399 of 590 in NY

Livability — Atlantic Beach

• Score: 72/100
• State rank: #376
• US rank: #6459

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atlantic Beach, NY
• City population: 1,747
• Population (ZIP): 1,747

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 (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 3%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 9% Scotch-Irish 8% Italian 3%
• Foreign-born: 7% · Canada
• Languages at home: 94% English-only · Other Indo-European 3% Spanish 1% Russian/Polish/Slavic 1%

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: ▲ 11.04%
• Current HPI: 392.2777
• 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

+39150.0% since first listed

7 events — show timeline

• 2026-04-20 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-12 Price Changed $1,099,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-12 Listed $1,250,000 OneKey® MLS as Distributed by MLS Grid
• 2024-12-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-05-24 Listed $1,399,000 OneKey® MLS as Distributed by MLS Grid
• 2023-12-16 Rental Removed $2,800 ONEKEY
• 2023-09-22 Listed for Rent $2,800 ONEKEY