8 Wooleys Ln Apt B12 · Great Neck, NY 11023

$399,000

1 bd · 1.0 ba · 1,000 sqft · Condo · 30 Days on market

Built 1962

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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 +20.6/30.0
• Schools +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.4/10.0
• Appreciation +4.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Bright & Spacious One Bedroom Co-Op With Beautiful Hard Wood Floors, Updated Kitchen & Bath, L - Shaped Lr, Dr Area. Many Large Closets. Lobby & Hallways Newly Renovated, New Carpets In Hallways. Parkwood North Schools, Walk To All! Must See. Wait List For Parking!!

Key facts

• Custom cabinetry
• Gas cooking
• Granite countertops

Tags

• RADIANT HEATED FLOORS
• UPDATED EAT-IN KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• GAS COOKING
• CUSTOM CABINETRY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $399k.

Deal economics

• At list price, monthly cash flow is $536 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $399k).
• Recommended offer: $393k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 3.0% in Great Neck — 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 74/100 on livability (#294 in NY, #4,766 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, amenities A-; Watch: housing C-, 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: E M Baker School (math 85% / reading 84%, grade A+, #93 of 2,108 statewide, top 6%, 664 students, 19% FRL); Great Neck North Middle School (math 73% / reading 78%, grade A, #51 of 729 statewide, top 7%, 744 students, 23% FRL); Great Neck North High School (math 100% / reading 87%, grade A+, #141 of 1,100 statewide, top 13%, 1,176 students, 24% FRL).
• Market conditions: 49 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 41% 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 (-1.5%/yr); year-one equity from $3k 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 30 days — a 2% lower offer ($393k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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 $165k; list at $399k implies a 142% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $393,015 (1.5% below list)

Questions for the listing agent

1. Built in 1962 — 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 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?
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: 1.04% ✓
• Cap rate: 7.91%
• Cash-on-cash: 5.76%
• DSCR: 1.26
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.96×
• Total profit: $-3,977
• Equity at exit: $87,629

10-year hold

• IRR: 6.4%
• Equity multiple: 1.58×
• Total profit: $65,047
• Equity at exit: $84,806

Cash invested: $111,720 (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 11023

• Home prices YoY: -0.5%
• Active inventory: 49
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $4,169 high
• Mortgage (P&I): −$2,092
• Tax est. 1.5%: −$499 /mo · $5,985/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$876
• Net cashflow: $536

Break-even live

Break-even rent $3,490

Max offer price $399,000

Occupancy floor 82%

Sensitivity live

Price	-10% $812	-5% $674	+0% $536	+5% $399	+10% $261
Rent	-10% $207	-5% $372	+0% $536	+5% $701	+10% $866
Rate	-1.0pp $737	-0.5pp $638	base $536	+0.5pp $433	+1.0pp $328

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
218 Middle Neck Rd #313 Great Neck, NY	2.0	2.0	1189	$6,300	$5.30	8d	1	0.15mi
14 Beach Rd Unit 3B Great Neck, NY	2.0	1.0	850	$3,500	$4.12	19d	1	0.48mi
14 Beach Rd Unit 3A Great Neck, NY	2.0	1.0	1000	$3,400	$3.40	11d	1	0.48mi
16 Stoner Ave Unit 2G Great Neck, NY	1.0	1.0	700	$2,800	$4.00	44d	1	0.60mi
4 Maple Dr Apt 6H Great Neck, NY	1.0	1.0	900	$2,300	$2.56	44d	1	0.62mi
88 Cuttermill Rd #518 Great Neck, NY	2.0	2.5	1360	$4,980	$3.66	44d	1	0.87mi
4 Chelsea Pl Apt 3F Great Neck, NY	2.0	2.0	900	$4,600	$5.11	25d	1	0.88mi
4 Chelsea Pl Unit 3D Great Neck, NY	2.0	2.0	1200	$4,700	$3.92	44d	1	0.88mi
141 Great Neck Rd Unit 2G Great Neck, NY	2.0	1.5	1000	$4,250	$4.25	3d	1	0.89mi
141 Great Neck Rd Unit 3A Great Neck, NY	2.0	2.5	1490	$4,800	$3.22	19d	1	0.89mi
11 Schenck Ave Unit 2D Great Neck Plaza, NY	1.0	1.0	750	$2,200	$2.93	44d	1	0.89mi
17 Schenck Ave Unit 3B Great Neck Plaza, NY	1.0	1.0	700	$2,295	$3.28	13d	1	0.91mi
55 S Middle Neck Rd Unit 4C Great Neck, NY	2.0	2.0	1200	$4,600	$3.83	44d	1	0.92mi
50 Knightsbridge Rd Unit 2B Great Neck Plaza, NY	2.0	1.0	850	$3,450	$4.06	5d	1	0.93mi
60 Knightsbridge Rd Unit 3F Great Neck Plaza, NY	2.0	1.0	850	$3,550	$4.18	5d	1	0.94mi
12 Welwyn Rd Unit 2P Great Neck Plaza, NY	2.0	1.0	795	$2,735	$3.44	45d	1	0.94mi
70 Knightsbridge Rd Unit 3F Great Neck Plaza, NY	2.0	1.0	850	$3,450	$4.06	44d	1	0.95mi
100 Cuttermill Rd Great Neck, NY	1.0–2.0	1.5–2.5	1200	$3,550	$2.96	25d	1	0.97mi
240 E Shore Rd Great Neck, NY	3.0	1.0–2.5	999	$4,770	$4.77	2d	1	1.15mi
37 Spruce St Unit 2 Great Neck, NY	2.0	1.0	900	$3,500	$3.89	44d	1	1.33mi
261 Schenck Ave Unit 1st Floor Great Neck, NY	2.0	1.0	975	$3,700	$3.79	25d	1	1.43mi
261 Schenck Ave Unit 2nd Floor Great Neck, NY	2.0	1.0	1000	$3,500	$3.50	25d	1	1.43mi

HOA detail condo

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

Listing history 12 events

1. 2026-03-20
   status Pending
2. 2026-02-14
   listed $399,000 Active
3. 2015-10-22
   historical 279-char remark

   Show marketing remark (279 chars)

   Bright & Spacious One Bedroom Co-Op With Beautiful Hard Wood Floors, Updated Kitchen & Bath, L - Shaped Lr, Dr Area. Many Large Closets. Lobby & Hallways Newly Renovated, New Carpets In Hallways. Parkwood North Schools, Walk To All! Must See. Wait List For Parking!!

4. 2015-10-21
   soldstatus $165,000 Closed 279-char remark

   Show marketing remark (279 chars)

   Bright & Spacious One Bedroom Co-Op With Beautiful Hard Wood Floors, Updated Kitchen & Bath, L - Shaped Lr, Dr Area. Many Large Closets. Lobby & Hallways Newly Renovated, New Carpets In Hallways. Parkwood North Schools, Walk To All! Must See. Wait List For Parking!!

5. 2015-07-29
   status Under Contract 279-char remark

   Show marketing remark (279 chars)

   Bright & Spacious One Bedroom Co-Op With Beautiful Hard Wood Floors, Updated Kitchen & Bath, L - Shaped Lr, Dr Area. Many Large Closets. Lobby & Hallways Newly Renovated, New Carpets In Hallways. Parkwood North Schools, Walk To All! Must See. Wait List For Parking!!

6. 2015-04-24
   price $168,000 279-char remark

   Show marketing remark (279 chars)

   Bright & Spacious One Bedroom Co-Op With Beautiful Hard Wood Floors, Updated Kitchen & Bath, L - Shaped Lr, Dr Area. Many Large Closets. Lobby & Hallways Newly Renovated, New Carpets In Hallways. Parkwood North Schools, Walk To All! Must See. Wait List For Parking!!

7. 2015-03-29
   status Listing Extended 279-char remark

   Show marketing remark (279 chars)

   Bright & Spacious One Bedroom Co-Op With Beautiful Hard Wood Floors, Updated Kitchen & Bath, L - Shaped Lr, Dr Area. Many Large Closets. Lobby & Hallways Newly Renovated, New Carpets In Hallways. Parkwood North Schools, Walk To All! Must See. Wait List For Parking!!

8. 2015-03-29
   historical 279-char remark

   Show marketing remark (279 chars)

   Bright & Spacious One Bedroom Co-Op With Beautiful Hard Wood Floors, Updated Kitchen & Bath, L - Shaped Lr, Dr Area. Many Large Closets. Lobby & Hallways Newly Renovated, New Carpets In Hallways. Parkwood North Schools, Walk To All! Must See. Wait List For Parking!!

9. 2015-03-24
   price $172,000 279-char remark

   Show marketing remark (279 chars)

   Bright & Spacious One Bedroom Co-Op With Beautiful Hard Wood Floors, Updated Kitchen & Bath, L - Shaped Lr, Dr Area. Many Large Closets. Lobby & Hallways Newly Renovated, New Carpets In Hallways. Parkwood North Schools, Walk To All! Must See. Wait List For Parking!!

10. 2014-03-27
    listed $175,000 New 279-char remark

    Show marketing remark (279 chars)

    Bright & Spacious One Bedroom Co-Op With Beautiful Hard Wood Floors, Updated Kitchen & Bath, L - Shaped Lr, Dr Area. Many Large Closets. Lobby & Hallways Newly Renovated, New Carpets In Hallways. Parkwood North Schools, Walk To All! Must See. Wait List For Parking!!

11. 2014-01-27
    historical
12. 2013-03-27
    listed $175,000

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°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: $50,033
• − Mortgage interest: −$22,350
• − Property taxes: −$5,985
• − Insurance: −$1,995
• − Repairs & maintenance: −$4,003
• − Management: −$4,003
• − Depreciation: −$11,607
• Taxable income: $90
• Est. tax owed @ 24.0%: −$22
• After-tax cash flow: $6,416/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 — Great Neck

• Score: 74/100
• State rank: #294
• US rank: #4766

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Great Neck, NY
• City population: 19,783
• Population (ZIP): 9,824

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 17% Two or more races 4% Hispanic / Latino 2% Black 1%
• Common ancestry: Romanian 5% Scotch-Irish 4% Italian 1%
• Foreign-born: 29% · China, Canada, Dominican Republic
• Languages at home: 57% English-only · Other Indo-European 17% Chinese 10% Other Asian/Pacific 3%

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: ▼ -1.46%
• Current HPI: 274.3808
• 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

+128.0% since first listed

12 events — show timeline

• 2026-03-20 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-14 Listed $399,000 OneKey® MLS as Distributed by MLS Grid
• 2015-10-22 Delisted — MLSLI
• 2015-10-21 Sold (MLS) $165,000 MLSLI
• 2015-07-29 Pending — MLSLI
• 2015-04-24 Price Changed $168,000 MLSLI
• 2015-03-29 Relisted — MLSLI
• 2015-03-29 Delisted — MLSLI
• 2015-03-24 Price Changed $172,000 MLSLI
• 2014-03-27 Listed $175,000 MLSLI
• 2014-01-27 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-03-27 Listed $175,000 OneKey® MLS as Distributed by MLS Grid