156 Brookside Ave · Freeport, NY 11575

$470,000

4 bd · 2.0 ba · 1,457 sqft · SingleFamily public records · 193 Days on market

Built 1954 9,600 sqft lot $323/sqft · 37% below area Est $744k · 37% under

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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 +15.0/15.0
• Cash flow +7.5/30.0
• Schools +6.5/10.0
• Livability +4.2/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Short Sale Sold AS-IS. Information In The Listing Is Provided As A Courtesy. Agent & Buyer Should Verify All Information And Not Rely On Contents Herein.

Key facts

• 9,600 sq ft lot
• Garage
• Built 1954

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $470k.

Deal economics

• At list price, monthly cash flow is $-589 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $366k (22.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $393k (16.3% below list).
• Recommended offer: $366k (22.2% below list) — sets the bar for cash-flow.
• Cap rate 4.8% vs local median 3.0% in Freeport — 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 83/100 on livability (#69 in NY, #1,033 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• Baldwin Union Free School District (suburban): math 69% / reading 73% proficiency, ranked #93 of 590 in NY (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Baldwin Middle School (math 44% / reading 66%, grade B-, #212 of 729 statewide, top 29%, 1,027 students, 45% FRL); Baldwin Senior High School (math 95% / reading 92%, grade A+, #131 of 1,100 statewide, top 13%, 1,484 students, 37% FRL) — zoned schools average 41% FRL vs 14% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 52 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $3k of loan paydown is wiped out by about $14k 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 193 days — a 12% lower offer ($414k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $155k; list at $470k implies a 203% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 72% 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 $365,893 (22.2% 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 193 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 4.79%
• Cash-on-cash: -5.37%
• DSCR: 0.76
• GRM: 10.0

CMA / ARV

• ARV (median comp): $743,860
• List price: $470,000
• Delta: -36.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
915 Wallace Ave	0.32mi	3/2.5 (-1)	1,426 (-2%)	2mo	$665,000	$466	73
1023 Schuman Pl	0.19mi	3/2.5 (-1)	1,357 (-7%)	4mo	$770,000	$567	69
1009 Centennial Ave	0.25mi	4/2.0	1,268 (-13%)	2mo	$559,500	$441	65
31 Cedar St	0.37mi	4/2.0	1,645 (+13%)	1mo	$680,000	$413	61
12 King St	0.50mi	3/2.0 (-1)	1,579 (+8%)	1mo	$655,000	$415	57
325 Pennsylvania Ave	0.73mi	5/2.5 (+1)	1,460 (+0%)	3mo	$645,000	$442	56
76 Henry St	0.66mi	4/2.5	1,565 (+7%)	2mo	$615,000	$393	54
251 N Long Beach Ave	0.64mi	4/1.5	1,560 (+7%)	4mo	$660,000	$423	54
858 Seaman Ave	0.74mi	4/1.5	1,385 (-5%)	3mo	$715,000	$516	52
671 Stanton Ave	0.73mi	3/1.5 (-1)	1,551 (+6%)	4mo	$710,000	$458	45
32 Dawes Ave	0.67mi	3/1.5 (-1)	1,300 (-11%)	3mo	$569,000	$438	41
712 De Mott Ave Ave	0.69mi	3/1.5 (-1)	1,600 (+10%)	5mo	$635,000	$397	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -25.4%
• Equity multiple: 0.14×
• Total profit: $-113,360
• Equity at exit: $70,079

10-year hold

• IRR: -21.3%
• Equity multiple: -0.11×
• Total profit: $-145,683
• Equity at exit: $40,637

Cash invested: $131,600 (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 11575

• Active inventory: 52
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $3,933 medium
• Mortgage (P&I): −$2,465
• Tax from tax record: −$1,036 /mo · $12,427/yr
• Insurance: −$196
• HOA: −$0
• Vacancy / Maint / Mgmt: −$826
• Net cashflow: $-589

Break-even live

Break-even rent $4,679

Max offer price $365,893

Occupancy floor —

Sensitivity live

Price	-10% $-323	-5% $-456	+0% $-589	+5% $-722	+10% $-855
Rent	-10% $-900	-5% $-745	+0% $-589	+5% $-434	+10% $-279
Rate	-1.0pp $-353	-0.5pp $-470	base $-589	+0.5pp $-711	+1.0pp $-835

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: $117,500
• Closing costs: $14,100
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 W Centennial Ave Roosevelt, NY	3.0	2.0	1176	$3,600	$3.06	21d	1	0.61mi
20 Mayfair Ct Freeport, NY	3.0	2.5	1860	$4,750	$2.55	9d	1	0.90mi
66 E Seaman Ave Freeport, NY	3.0	2.5	1200	$3,600	$3.00	45d	1	1.00mi
196 E Seaman Ave Freeport, NY	3.0	2.5	1062	$8,500	$8.00	19d	1	1.25mi

Listing history 20 events

1. 2026-06-21
   days on market $470,000 Active 193 DOM
2. 2026-06-18
   days on market $470,000 Active 190 DOM
3. 2026-06-17
   days on market $470,000 Active 189 DOM
4. 2026-06-16
   days on market $470,000 Active 188 DOM
5. 2026-06-15
   days on market $470,000 Active 187 DOM
6. 2026-06-13
   days on market $470,000 Active 185 DOM
7. 2026-06-13
   days on market $470,000 Active 184 DOM
8. 2026-06-09
   days on market $470,000 Active 181 DOM
9. 2026-06-08
   days on market $470,000 Active 180 DOM
10. 2026-06-07
    days on market $470,000 Active 179 DOM
11. 2026-06-04
    days on market $470,000 Active 176 DOM
12. 2026-06-03
    days on market $470,000 Active 175 DOM
13. 2026-06-02
    days on market $470,000 Active 174 DOM
14. 2026-06-01
    days on market $470,000 Active 173 DOM
15. 2026-05-31
    days on market $470,000 Active 172 DOM
16. 2025-12-12
    price $470,000 158-char remark

    Show marketing remark (158 chars)

    Short Sale Sold AS-IS. Information In The Listing Is Provided As A Courtesy. Agent & Buyer Should Verify All Information And Not Rely On Contents Herein.

17. 2025-12-12
    status Active 158-char remark

    Show marketing remark (158 chars)

    Short Sale Sold AS-IS. Information In The Listing Is Provided As A Courtesy. Agent & Buyer Should Verify All Information And Not Rely On Contents Herein.

18. 2025-08-01
    status Pending 158-char remark

    Show marketing remark (158 chars)

    Short Sale Sold AS-IS. Information In The Listing Is Provided As A Courtesy. Agent & Buyer Should Verify All Information And Not Rely On Contents Herein.

19. 2025-07-29
    listed $500,000 Active 158-char remark

    Show marketing remark (158 chars)

    Short Sale Sold AS-IS. Information In The Listing Is Provided As A Courtesy. Agent & Buyer Should Verify All Information And Not Rely On Contents Herein.

20. 1993-08-18
    soldstatus $155,000

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $12,427 · $1,036/mo
• Projected year-2 tax: $12,427 · $1,036/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,192
• − Mortgage interest: −$26,327
• − Property taxes: −$12,427
• − Insurance: −$2,350
• − Repairs & maintenance: −$3,775
• − Management: −$3,775
• − Depreciation: −$13,673
• Taxable loss: −$15,136
• Est. tax savings @ 24.0%: +$3,633
• After-tax cash flow: $-3,439/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: Baldwin Union Free School District
• NCES district ID: 3603840
• Math proficiency: 69% ▲ 7.00%
• Reading proficiency: 73% ▲ 12.00%
• Median HH income: $99,594
• Composite: 64.93/100
• National rank: #509
• State rank: #93 of 590 in NY

Livability — Freeport

• Score: 83/100
• State rank: #69
• US rank: #1033

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Freeport, NY
• City population: 44,873
• Population (ZIP): 19,430

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 0.55)
• Race & ethnicity: Black 53% Hispanic / Latino 41% Two or more races 7% Asian 2% White 1%
• Hispanic origin (detail): Puerto Rican 6% Dominican 4%
• Common ancestry: Hispanic 4%
• Foreign-born: 36% · Canada, Jamaica, South Korea
• Languages at home: 60% English-only · Spanish 34% French/Haitian/Cajun 4% Other Indo-European 2%

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: ▼ -368.53%
• Current HPI: 364.7467
• 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

+203.2% since first listed

5 events — show timeline

• 2025-12-12 Price Changed $470,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-12 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-08-01 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-07-29 Listed $500,000 OneKey® MLS as Distributed by MLS Grid
• 1993-08-18 Sold (Public Records) $155,000 Public Records

Property tax history

+1.7%/yr

Latest (2024): $12,427 · +6.4% YoY. Source: county tax records.