1 Roosevelt St · Glen Cove, NY 11542

$899,000

4 bd · 2.0 ba · 1,756 sqft · MultiFamily public records · 25 Days on market

Built 1950 9,170 sqft lot $512/sqft · 21% below area Est $1138k · 21% under

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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 +16.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• Schools +4.7/10.0
• Rent growth +4.1/5.0
• 1% rule +3.2/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Maximize your portfolio with this beautifully maintained, legal income-generating duplex. The main unit features 3 bedrooms, formal dining room, living room, eat-in kitchen with SS appliances, granite counters and a full basement with manicured outdoor living space. The secondary unit offers a comfortable 1-bedroom/1 bath layout with dedicated living and dining areas and separate outdoor patio. Each unit enjoys private 2-car driveway parking. CAC, Inground sprinklers, low taxes and high rental demand makes this a true "set it and forget it" property.

Key facts

• Inground sprinklers
• 9,170 sq ft lot
• 4 parking spots

Tags

• LEGAL INCOME GENERATING DUPLEX
• MANICURED OUTDOOR LIVING SPACE
• PRIVATE 2 CAR DRIVEWAY PARKING
• INGROUND SPRINKLERS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $899k.

Deal economics

• At list price, monthly cash flow is $503 ($6k/yr) — positive. Per door: $251/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $740k (17.7% below list).
• Recommended offer: $740k (17.7% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.6% in Glen Cove — 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 65/100 on livability (#685 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing C-, amenities F, commute F.
• Glen Cove City School District (suburban): math 50% / reading 55% proficiency, ranked #312 of 590 in NY (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Robert M Finley Middle School (math 43% / reading 47%, grade D, #342 of 729 statewide, top 48%, 710 students, 70% FRL); Glen Cove High School (math 85% / reading 87%, grade A, #347 of 1,100 statewide, top 32%, 1,050 students, 55% FRL) — zoned schools average 62% FRL vs 45% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 66% at this address vs 52% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Glen Cove City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+6.4%/yr); 145 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• At $7,395/mo this rent would consume 95% of the median local household income ($93k/yr) (locally 1667% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k 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 25 days — a 2% lower offer ($886k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 56% 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 $739,500 (17.7% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.82% ✗
• Cap rate: 6.96%
• Cash-on-cash: 2.40%
• DSCR: 1.11
• GRM: 10.1

CMA / ARV

• ARV (median comp): $1,138,455
• List price: $899,000
• Delta: -21.03%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.43% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.65×
• Total profit: $-87,688
• Equity at exit: $134,044

10-year hold

• IRR: 3.8%
• Equity multiple: 1.32×
• Total profit: $79,391
• Equity at exit: $77,729

Cash invested: $251,720 (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 11542

• Rents YoY: 6.4%
• Active inventory: 145
• Price-to-rent: 20.3×

Monthly cashflow live

• Estimated rent: $7,395 high
• Mortgage (P&I): −$4,714
• Tax from tax record: −$250 /mo · $3,004/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,553
• Net cashflow: $503

Break-even live

Break-even rent $6,759

Max offer price $899,000

Occupancy floor 88%

Sensitivity live

Price	-10% $1,012	-5% $757	+0% $503	+5% $248	+10% $-6
Rent	-10% $-82	-5% $211	+0% $503	+5% $795	+10% $1,087
Rate	-1.0pp $955	-0.5pp $731	base $503	+0.5pp $270	+1.0pp $33

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$7,396
Total (2 units)			$7,395

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18 Park Ave Glen Cove, NY	3.0	2.0	1600	$3,995	$2.50	26d	1	0.18mi
8 Lee Gray Ct Glen Cove, NY	4.0	2.5	1900	$4,800	$2.53	0d	1	0.22mi
6 Lee Gray Ct Unit 2 Glen Cove, NY	3.0	2.0	1380	$4,000	$2.90	45d	1	0.23mi
41 Clement St Glen Cove, NY	3.0	2.0	1320	$3,600	$2.73	3d	1	0.50mi
8 Locust St Glen Cove, NY	3.0	1.5	1500	$4,100	$2.73	7d	1	0.51mi
29 Hendrick Ave Unit B Glen Cove, NY	3.0	1.0	1546	$3,200	$2.07	26d	1	0.63mi
26 Purdue Rd Glen Cove, NY	4.0	2.0	1500	$4,800	$3.20	26d	1	0.64mi
63 Franklin Ave Glen Cove, NY	3.0	1.0	1817	$3,400	$1.87	45d	1	0.68mi
88 Coles St Glen Cove, NY	3.0	2.0	2218	$5,500	$2.48	19d	1	0.70mi
21 Franklin Ave Glen Cove, NY	4.0	2.0	1467	$5,400	$3.68	13d	1	0.75mi
8 Jackson St Unit 1 Glen Cove, NY	3.0	1.0	1900	$3,700	$1.95	26d	1	0.83mi
8 Jackson St Unit 1 Glen Cove, NY	3.0	1.0	1900	$3,700	$1.95	8d	1	0.83mi
8 Jackson St Glen Cove, NY	3.0	1.0	1400	$3,750	$2.68	8d	1	0.83mi
1 Edgehill Rd Glen Cove, NY	4.0	4.5	2500	$6,300	$2.52	3d	1	0.86mi
118 Forest Ave Glen Cove, NY	3.0	1.5	1983	$3,900	$1.97	45d	1	0.88mi
22 Ford St Unit 1 Glen Cove, NY	3.0	1.0	1360	$2,500	$1.84	0d	1	1.13mi
11 Park Manor Ct #11 Glen Cove, NY	3.0	1.5	2560	$3,950	$1.54	45d	1	1.19mi
9 Nassau Rd Unit 1 Glen Cove, NY	3.0	2.5	1600	$4,100	$2.56	20d	1	1.27mi
2 Arbor Pl Glen Cove, NY	4.0	2.0	1620	$4,500	$2.78	0d	1	1.27mi
20 Alex Ln Unit 2 Glen Cove, NY	3.0	2.0	1407	$4,000	$2.84	45d	1	1.49mi
20 Alex Ln Unit 1 Glen Cove, NY	3.0	2.0	1369	$4,500	$3.29	45d	1	1.49mi

Listing history 1 events

1. 2026-04-13
   listed $899,000 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: $3,004 · $250/mo
• Projected year-2 tax: $9,099 · $758/mo
• Expected delta: +$6,095/yr (+$508/mo · 202.9%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $88,740
• − Mortgage interest: −$50,358
• − Property taxes: −$3,004
• − Insurance: −$4,495
• − Repairs & maintenance: −$7,099
• − Management: −$7,099
• − Depreciation: −$26,153
• Taxable loss: −$9,468
• Est. tax savings @ 24.0%: +$2,272
• After-tax cash flow: $8,304/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: Glen Cove City School District
• NCES district ID: 3612180
• Math proficiency: 50% ▼ -5.00%
• Reading proficiency: 55% ▲ 6.00%
• Median HH income: $70,021
• Composite: 46.76/100
• National rank: #2391
• State rank: #312 of 590 in NY

Livability — Glen Cove

• Score: 65/100
• State rank: #685
• US rank: #12441

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glen Cove, NY
• County: Nassau County · 653,051 people
• City population: 28,965
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 28,965
• Household income: $93,242
• Rent vs Own: 48.2% rent · 51.8% own
• Severe rent burden: 1667.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 56% Hispanic / Latino 32% Two or more races 14% Asian 5% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Dominican 3%
• Common ancestry: Romanian 5% Scotch-Irish 2% Italian 1%
• Foreign-born: 28% · Canada, China, Jamaica
• Languages at home: 60% English-only · Spanish 27% Other Indo-European 9% Chinese 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: ▼ -377.99%
• Current HPI: 275.1903
• Rent YoY: ▲ 6.43%
• 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

1 event — show timeline

• 2026-04-13 Listed $899,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+0.5%/yr

Latest (2024): $3,004 · +8.7% YoY. Source: county tax records.