1331 Broadway Unit P 10/11 · Hewlett, NY 11557

$298,000

2 bd · 2.0 ba · 1,350 sqft · Condo · 38 Days on market

Built 1960 Good condition $221/sqft · 41% below area Est $507k · 41% under

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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 +27.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +7.5/10.0
• Schools +7.0/10.0
• Livability +4.5/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

1331 Broadway unit P 10/11, a sunny and spacious first floor oversized (almost 1350 sq ft) 2-bedroom /2 bath co-op is located in the heart of Hewlett, SD#14. This home features a large entry foyer with closet, skylight and sliding doors to the open terrace. In addition, there is an XL living room/ dining room, a large kitchen, a laundry room with washer/dryer and storage, a huge primary suite with large closet and ensuite bath, and spacious 2nd bedroom and full bath. The taxes, water, large private storage room and 2 dedicated parking spots (one indoor and one outdoor) are included in the monthly maintenance fee of $2482.27 per month. No Flip Tax, No Assessments, No Renting Permitted. Hewl

Key facts

• Large entry foyer
• Open terrace
• Huge primary suite

Tags

• LARGE ENTRY FOYER
• OPEN TERRACE
• XL LIVING ROOM
• LARGE KITCHEN
• LAUNDRY ROOM
• HUGE PRIMARY SUITE

Property features AI

Finance

• HOA & community: Association with monthly fee; Association covers common area maintenance, grounds care, sewer, snow removal, trash, and water; Association provides maintenance and grounds maintenance services

Exterior

• Parking: Assigned parking; Covered parking; Garage parking (1 car); Carport available; On-street parking; Parking lot; Total of 2 parking spaces; No parking fee
• Utilities: Electric service by PSEG; Public sewer; Cable available; Electricity connected; Sewer connected; Trash collection (public); Water connected
• Home design: Stock cooperative; One level; Entry on level 1
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Kitchen: Cooktop; Dishwasher; Refrigerator
• Bedrooms: Includes a main-level/master bedroom
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Electric cooling
• Interior features: First-floor bedroom; First-floor full bathroom; Entrance foyer; High ceilings; Primary bathroom; Master suite on the main level; Recessed lighting; Storage closet; Terrace
• Laundry & utility: Washer hookup; Electric dryer hookup

🏷️ Possibly a rental listed for sale. The $298,000 price doesn't fit this home's estimated sale value (~$506,502) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $298k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $876 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $298k).
• Recommended offer: $289k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 2.7% in Hewlett — 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 89/100 on livability (#7 in NY, #165 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living F.
• Hewlett-Woodmere Union Free School District (suburban): math 72% / reading 79% proficiency, ranked #59 of 590 in NY (top 10%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Hewlett Elementary School (math 57% / reading 72%, grade B, #591 of 2,108 statewide, top 31%, 403 students, 26% FRL); Woodmere Middle School (math 62% / reading 73%, grade A-, #98 of 729 statewide, top 14%, 716 students, 26% FRL); George W Hewlett High School (math 95% / reading 97%, grade A+, #68 of 1,100 statewide, top 6%, 999 students, 26% FRL).
• Market conditions: 71 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $2k of loan paydown is wiped out by about $9k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $83k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($289k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 70% 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 $289,060 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.25% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.59%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

• ARV (median comp): $506,502
• List price: $298,000
• Delta: -41.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 2.4%
• Equity multiple: 1.09×
• Total profit: $7,534
• Equity at exit: $44,433

10-year hold

• IRR: 11.9%
• Equity multiple: 1.94×
• Total profit: $78,597
• Equity at exit: $25,766

Cash invested: $83,440 (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 11557

• Active inventory: 71
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $3,715 high
• Mortgage (P&I): −$1,563
• Tax est. 1.5%: −$372 /mo · $4,470/yr
• Insurance: −$124
• HOA: −$0
• Vacancy / Maint / Mgmt: −$780
• Net cashflow: $876

Break-even live

Break-even rent $2,607

Max offer price $298,000

Occupancy floor 71%

Sensitivity live

Price	-10% $1,082	-5% $979	+0% $876	+5% $773	+10% $670
Rent	-10% $582	-5% $729	+0% $876	+5% $1,022	+10% $1,169
Rate	-1.0pp $1,026	-0.5pp $951	base $876	+0.5pp $798	+1.0pp $720

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: $74,500
• Closing costs: $8,940
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
363 Hewlett Pkwy Hewlett, NY	3.0	1.5	1205	$4,200	$3.49	25d	1	0.30mi
227 Franklin Pl Woodmere, NY	3.0	1.0	950	$3,400	$3.58	44d	1	0.61mi
19 Dartmouth St Valley Stream, NY	3.0	3.5	1439	$4,600	$3.20	2d	1	0.71mi
127 Gordon Rd Valley Stream, NY	3.0	1.0	1200	$3,350	$2.79	44d	1	0.75mi
510 Dubois Ave Apt 3C Valley Stream, NY	2.0	1.5	1050	$3,400	$3.24	44d	1	0.76mi
141 Munro Blvd Valley Stream, NY	1.0	1.0	1000	$1,300	$1.30	18d	1	0.80mi
61 Hollywood Ave Lynbrook, NY	2.0	1.0	1825	$3,000	$1.64	44d	1	0.94mi
66 Kenmore Rd Valley Stream, NY	2.0	1.0	1525	$2,950	$1.93	19d	1	0.97mi
65 Prospect Ave Apt 15W Lynbrook, NY	2.0	2.0	1060	$3,680	$3.47	22d	1	0.99mi
26 Starks Pl Lynbrook, NY	3.0	1.5	1822	$3,850	$2.11	2d	1	1.14mi
92 Wavecrest St Valley Stream, NY	2.0	1.0	1200	$2,800	$2.33	25d	1	1.25mi
23 Thompson Pl Unit 2 Lynbrook, NY	3.0	1.0	900	$3,100	$3.44	19d	1	1.37mi
132 Roosevelt Ave Valley Stream, NY	3.0	2.0	1010	$4,300	$4.26	2d	1	1.38mi
757 Chestnut St Unit 1st Fl Cedarhurst, NY	2.0	2.0	1200	$4,195	$3.50	2d	1	1.44mi
576 Scranton Ave Unit 576-4 Lynbrook, NY	2.0	1.0	1212	$3,750	$3.09	45d	1	1.49mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-18
   days on market $298,000 Active 38 DOM
2. 2026-06-17
   days on market $298,000 Active 37 DOM
3. 2026-06-16
   days on market $298,000 Active 36 DOM
4. 2026-06-15
   days on market $298,000 Active 35 DOM
5. 2026-06-13
   days on market $298,000 Active 33 DOM
6. 2026-06-13
   days on market $298,000 Active 32 DOM
7. 2026-06-09
   days on market $298,000 Active 29 DOM
8. 2026-06-08
   days on market $298,000 Active 28 DOM
9. 2026-06-07
   days on market $298,000 Active 27 DOM
10. 2026-06-04
    days on market $298,000 Active 24 DOM
11. 2026-06-03
    days on market $298,000 Active 23 DOM
12. 2026-06-02
    days on market $298,000 Active 22 DOM
13. 2026-06-01
    days on market $298,000 Active 21 DOM
14. 2026-05-31
    days on market $298,000 Active 20 DOM
15. 2026-05-11
    listed $298,000 Active 850-char remark

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,582
• − Mortgage interest: −$16,693
• − Property taxes: −$4,470
• − Insurance: −$1,490
• − Repairs & maintenance: −$3,567
• − Management: −$3,567
• − Depreciation: −$8,669
• Taxable income: $6,127
• Est. tax owed @ 24.0%: −$1,471
• After-tax cash flow: $9,036/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.

Condition & rehab AI · 30 photos

Good 75/100 Cosmetic rehab

This well-maintained townhouse is in good condition with minor cosmetic updates needed to enhance its resale and rental value.

Repairs flagged

• Minor Kitchen appliances — Appliances appear functional but dated.
• Minor Carpet in living areas — Carpet appears worn but not damaged.
• Minor Bathroom fixtures — Standard fixtures in good condition but could be updated for a fresh look.

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the overall appearance and value of the home.
• Both Replace carpet in living areas — New carpet can enhance the look and feel of the living spaces.
• Both Update bathroom fixtures — Modern fixtures can improve the functionality and appeal of the bathrooms.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen appliances · Appliances appear functional but dated.	Minor	$500–3,000
Carpet in living areas · Carpet appears worn but not damaged.	Minor	$500–3,000
Bathroom fixtures · Standard fixtures in good condition but could be updated for a fresh look.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the overall appearance and value of the home. ↑
• Both Replace carpet in living areas — New carpet can enhance the look and feel of the living spaces. ↑
• Both Update bathroom fixtures — Modern fixtures can improve the functionality and appeal of the bathrooms. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hewlett-Woodmere Union Free School District
• NCES district ID: 3631710
• Math proficiency: 72% ▼ -7.00%
• Reading proficiency: 79% ▼ -3.00%
• Median HH income: $112,656
• Composite: 69.89/100
• National rank: #287
• State rank: #59 of 590 in NY

Livability — Hewlett

• Score: 89/100
• State rank: #7
• US rank: #165

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hewlett, NY
• Population (ZIP): 8,503

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 9% Hispanic / Latino 8% Black 6% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Scotch-Irish 5% Romanian 4% Danish 2%
• Foreign-born: 19% · Canada, Vietnam, China
• Languages at home: 74% English-only · Russian/Polish/Slavic 6% Spanish 6% Other Indo-European 4%

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: ▼ -218.62%
• Current HPI: 273.9904
• 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

1 event — show timeline

• 2026-05-11 Listed $298,000 OneKey® MLS as Distributed by MLS Grid