29 Jennings Ln · Woodbury, NY 11797

$868,000

3 bd · 2.5 ba · 2,145 sqft · Condo public records · 13 Days on market

Built 1979 $834/mo HOA · 15% of rent

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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).

• Schools +8.1/10.0
• Appreciation +7.9/10.0
• ARV discount +7.5/15.0
• Cash flow +4.1/30.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0
• DSCR +0.0/10.0

Listing remarks

Welcome to a rare opportunity in the highly sought-after Woodlands community! This 3-bedroom, 2.5-bath townhouse offers space, light, and potential in a prime Syosset location within the top-rated Syosset School District, serving Baylis Elementary and H. B. Thompson Middle School. Offered in original condition, this home presents a rare opportunity to bring your vision to life and create a space tailored to your personal style. With great bones, a spacious layout, and abundant natural light, the potential is undeniable. The main level features an airy, open floor plan with soaring ceilings in the living room and sliding glass doors in both the living room and dining room leading to a priva

Key facts

• Private deck
• In-ground pool
• Kiddie pool

Tags

• PRIVATE DECK
• NEW HVAC SYSTEM
• IN-GROUND POOL
• KIDDIE POOL
• PLAYGROUND
• TOWN OF OYSTER BAY GOLF COURSE

Property features AI

Finance

• HOA & community: Part of The Woodlands association; Monthly association fee; Association amenities include basketball court, clubhouse, fitness center, playground, pool, tennis courts; Association fee covers common area maintenance, exterior maintenance, grounds care, pool service, snow removal, trash, water

Exterior

• Parking: 2 parking spaces (driveway, private); 1-car garage
• Utilities: Public sewer; Electricity connected (PSEG); Water connected; Cable available
• Home design: Townhouse; Condominium; Entry level: 1
• Construction: Frame construction; Full basement (partially finished with storage); Scuttle attic
• Exterior features: Community pool; No waterfront

Interior

• Kitchen: Dishwasher; Electric oven; Microwave; Refrigerator
• Bedrooms: Three or more levels (home spans multiple levels)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Electric heat; Central air conditioning
• Interior features: Eat-in kitchen; Entrance foyer; Formal dining room; High ceilings; Open floor plan; Primary bathroom; Smart thermostat; Storage; Walk-in closet(s); Deck (patio/porch feature); Pets allowed; Stair lift
• Laundry & utility: Washer; Dryer; Laundry located in kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $868k.

Deal economics

• At list price, monthly cash flow is $-2k ($-29k/yr) — negative.
• To cash-flow at today's rent, offer at most $448k (48.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $563k (35.1% below list).
• Recommended offer: $448k (48.4% below list) — sets the bar for cash-flow.
• Cap rate 3.0% vs local median 1.9% in Woodbury — 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 66/100 on livability (#663 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Syosset Central School District (suburban): math 88% / reading 82% proficiency, ranked #19 of 590 in NY (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 3% free/reduced lunch — higher-income household profile.
• Zoned schools: Baylis Elementary School (math 87% / reading 82%, grade A+, #93 of 2,108 statewide, top 6%, 405 students, 11% FRL); H B Thompson Middle School (math 83% / reading 80%, grade A+, #22 of 729 statewide, top 3%, 997 students, 12% FRL); Syosset Senior High School (math 97% / reading 85%, grade A+, #203 of 1,100 statewide, top 20%, 2,266 students, 13% FRL).
• Market conditions: 69 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• This rent runs 35% of the median local income ($193k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $56k of equity ($6k loan paydown + $50k appreciation (5.8% local appreciation)).
• Nassau County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$90k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $448,279 (48.4% 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. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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. 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?
8. 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.
9. 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.
10. 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: 0.65% ✗
• Cap rate: 3.01%
• Cash-on-cash: -11.73%
• DSCR: 0.48
• GRM: 12.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.76% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.3%
• Equity multiple: 1.36×
• Total profit: $87,300
• Equity at exit: $532,280

10-year hold

• IRR: 7.7%
• Equity multiple: 2.56×
• Total profit: $379,955
• Equity at exit: $953,921

Cash invested: $243,040 (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 11797

• Home prices YoY: 2.2%
• Active inventory: 69
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $5,630 medium
• Mortgage (P&I): −$4,552
• Tax from tax record: −$1,076 /mo · $12,914/yr
• Insurance: −$362
• HOA: −$834
• Vacancy / Maint / Mgmt: −$1,182
• Net cashflow: $-2,376

Break-even live

Break-even rent $8,638

Max offer price $448,279

Occupancy floor —

Sensitivity live

Price	-10% $-1,885	-5% $-2,130	+0% $-2,376	+5% $-2,622	+10% $-2,867
Rent	-10% $-2,821	-5% $-2,598	+0% $-2,376	+5% $-2,154	+10% $-1,931
Rate	-1.0pp $-1,939	-0.5pp $-2,155	base $-2,376	+0.5pp $-2,601	+1.0pp $-2,830

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: $217,000
• Closing costs: $26,040
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Woodlake Dr W Woodbury, NY	3.0	2.5	1508	$6,200	$4.11	2d	1	0.25mi
14 Glenn Dr Woodbury, NY	4.0	3.0	1568	$6,200	$3.95	2d	1	0.87mi
35 Hicks Ave Syosset, NY	4.0	2.5	1819	$5,500	$3.02	44d	1	1.30mi

HOA detail condo

• Monthly dues: $834 · $10,008/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-17
   statusdays on market $868,000 Pending 13 DOM
2. 2026-04-28
   listed $868,000 Active

ⓘ 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: $12,914 · $1,076/mo
• Projected year-2 tax: $13,792 · $1,149/mo
• Expected delta: +$878/yr (+$73/mo · 6.8%)

ⓘ 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 5/10 Major 7 d/yr ≥97°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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $67,561
• − Mortgage interest: −$48,621
• − Property taxes: −$12,914
• − Insurance: −$4,340
• − Repairs & maintenance: −$5,405
• − Management: −$5,405
• − HOA: −$10,008
• − Depreciation: −$25,251
• Taxable loss: −$44,383
• Est. tax savings @ 24.0%: +$10,652
• After-tax cash flow: $-17,859/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: Syosset Central School District
• NCES district ID: 3628560
• Math proficiency: 88% ▼ -1.00%
• Reading proficiency: 82% ▲ 6.00%
• Median HH income: $145,750
• Composite: 80.99/100
• National rank: #44
• State rank: #19 of 590 in NY

Livability — Woodbury

• Score: 66/100
• State rank: #663
• US rank: #11975

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woodbury, NY
• County: Nassau County · 653,051 people
• City population: 9,402
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 9,402
• Household income: $192,609
• Rent vs Own: 12.8% rent · 87.2% own
• Severe rent burden: 157.0

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 (77%)
• Race & ethnicity: White 77% Asian 16% Two or more races 4% Hispanic / Latino 2% Black 2%
• Common ancestry: Romanian 8% Scotch-Irish 6% Italian 4%
• Foreign-born: 15% · China, Canada, South Korea
• Languages at home: 77% English-only · Other Indo-European 12% Chinese 3% Spanish 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: ▲ 5.76%
• Current HPI: 264.948
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

2 events — show timeline

• 2026-06-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-28 Listed $868,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+0.8%/yr

Latest (2024): $12,914 · +1.7% YoY. Source: county tax records.