1203 E Broadway E Broadway Unit G-11 · Hewlett, NY 11557

$300,000

2 bd · 2.0 ba · 1,100 sqft · Condo · 88 Days on market

Built 1955

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Why this score? — see what drove the F 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 +7.5/15.0
• 1% rule +7.2/10.0
• Schools +7.0/10.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move right into this beautifully renovated first-floor 2-bedroom, 2-bath co-op located in the desirable Gardentown community in Hewlett within School District #14. This spacious unit offers convenient first-floor access, ideal for easy living and wheelchair accessibility. The apartment features a large living room and formal dining room with hardwood floors and direct access to an oversized private terrace overlooking Hewlett Bay Park - perfect for relaxing or entertaining. The updated kitchen includes quartz countertops and stainless steel appliances. The primary bedroom offers a walk-in closet and an updated en-suite full bath, while the second bedroom features built-ins and easy access to the second updated full bathroom. Additional highlights include central air conditioning, recessed lighting, abundant closet space, and a private washer and dryer in the unit. Gardentown is set on beautifully landscaped grounds with beautiful courtyards and seating areas throughout the property. Monthly maintenance fee of $2580 includes heat, water, and taxes as well as maintenance of common areas. Two garage parking spaces are available for $50 per month each, and additional free parking is available in the public lot. Cats permitted. Conveniently located just one block from the LIRR and close to shopping, restaurants, buses, and houses of worship.

Key facts

• Quartz countertops
• First floor access
• Updated kitchen

Tags

• FIRST FLOOR ACCESS
• WHEELCHAIR ACCESSIBILITY
• OVERSIZED PRIVATE TERRACE
• UPDATED KITCHEN
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $300k.

Deal economics

• At list price, monthly cash flow is $-2k ($-26k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Recommended offer: $282k (6.0% below list) — sets the bar for market timing.
• Cap rate -2.3% vs local median 2.7% in Hewlett — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 89/100 on livability (#7 in NY, #165 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities 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.
• Market conditions: 71 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 (-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.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y 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 $100k; list at $300k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; HOA is 81% of rent; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $282,000 (6.0% 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 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.22% ✓
• Cap rate: -2.27%
• Cash-on-cash: -30.59%
• DSCR: -0.36
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -90.1%
• Equity multiple: -1.22×
• Total profit: $-186,622
• Equity at exit: $44,731

10-year hold

• IRR: —
• Equity multiple: -2.99×
• Total profit: $-334,903
• Equity at exit: $25,939

Cash invested: $84,000 (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: 6.8×

Monthly cashflow live

• Estimated rent: $3,673 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA est. from 1 same-building comp: −$2,970
• Vacancy / Maint / Mgmt: −$771
• Net cashflow: $-2,197

Break-even live

Break-even rent $6,454

Max offer price —

Occupancy floor —

Sensitivity live

Price	-10% $-1,990	-5% $-2,093	+0% $-2,197	+5% $-2,301	+10% $-2,404
Rent	-10% $-2,487	-5% $-2,342	+0% $-2,197	+5% $-2,052	+10% $-1,907
Rate	-1.0pp $-2,046	-0.5pp $-2,121	base $-2,197	+0.5pp $-2,275	+1.0pp $-2,354

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
363 Hewlett Pkwy Hewlett, NY	3.0	1.5	1205	$4,200	$3.49	24d	1	0.47mi
227 Franklin Pl Woodmere, NY	3.0	1.0	950	$3,400	$3.58	44d	1	0.50mi
19 Dartmouth St Valley Stream, NY	3.0	3.5	1439	$4,600	$3.20	1d	1	0.97mi
127 Gordon Rd Valley Stream, NY	3.0	1.0	1200	$3,350	$2.79	44d	1	1.02mi
510 Dubois Ave Apt 3C Valley Stream, NY	2.0	1.5	1050	$3,400	$3.24	44d	1	1.03mi
141 Munro Blvd Valley Stream, NY	1.0	1.0	1000	$1,300	$1.30	18d	1	1.08mi
65 Prospect Ave Unit 2W Lynbrook, NY	1.0	1.0	800	$3,055	$3.82	44d	1	1.20mi
65 Prospect Ave Apt 15W Lynbrook, NY	2.0	2.0	1060	$3,680	$3.47	22d	1	1.20mi
757 Chestnut St Unit 1st Fl Cedarhurst, NY	2.0	2.0	1200	$4,195	$3.50	1d	1	1.23mi
623 Central Ave Unit 306 Cedarhurst, NY	1.0	1.0	1000	$2,550	$2.55	19d	1	1.30mi
601 Chestnut St Unit A-21 Cedarhurst, NY	1.0	1.0	700	$2,850	$4.07	44d	1	1.32mi
120 Maple Ave Unit 2nd FLOOR Cedarhurst, NY	3.0	2.0	1150	$4,275	$3.72	11d	1	1.33mi

HOA detail condo

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

Listing history 32 events

1. 2026-06-07
   days on market $300,000 Active 88 DOM
2. 2026-06-04
   days on market $300,000 Active 85 DOM
3. 2026-06-03
   days on market $300,000 Active 84 DOM
4. 2026-06-02
   days on market $300,000 Active 83 DOM
5. 2026-06-01
   days on market $300,000 Active 82 DOM
6. 2026-05-31
   days on market $300,000 Active 81 DOM
7. 2026-03-11
   listed $300,000 Active 1362-char remark

   Show marketing remark (1362 chars)

   Move right into this beautifully renovated first-floor 2-bedroom, 2-bath co-op located in the desirable Gardentown community in Hewlett within School District #14. This spacious unit offers convenient first-floor access, ideal for easy living and wheelchair accessibility. The apartment features a large living room and formal dining room with hardwood floors and direct access to an oversized private terrace overlooking Hewlett Bay Park - perfect for relaxing or entertaining. The updated kitchen includes quartz countertops and stainless steel appliances. The primary bedroom offers a walk-in closet and an updated en-suite full bath, while the second bedroom features built-ins and easy access to the second updated full bathroom. Additional highlights include central air conditioning, recessed lighting, abundant closet space, and a private washer and dryer in the unit. Gardentown is set on beautifully landscaped grounds with beautiful courtyards and seating areas throughout the property. Monthly maintenance fee of $2580 includes heat, water, and taxes as well as maintenance of common areas. Two garage parking spaces are available for $50 per month each, and additional free parking is available in the public lot. Cats permitted. Conveniently located just one block from the LIRR and close to shopping, restaurants, buses, and houses of worship.

8. 2025-06-19
   historical
9. 2025-04-26
   listed $299,999 Active
10. 2025-04-25
    historical
11. 2021-11-02
    historical
12. 2021-08-31
    status Pending
13. 2021-08-15
    historical
14. 2021-07-13
    price $199,000
15. 2021-06-24
    price $209,000
16. 2021-05-28
    listed $219,000 Active
17. 2021-05-03
    historical
18. 2021-04-01
    price $227,000
19. 2020-11-11
    price $228,000
20. 2020-10-07
    price $229,000
21. 2020-09-22
    price $239,000
22. 2020-08-28
    price $249,000
23. 2020-08-19
    listed $259,000 Active
24. 2015-09-04
    soldstatus $100,000 Closed
25. 2015-09-04
    soldstatus $100,000
26. 2015-05-17
    status Under Contract
27. 2015-02-26
    price $124,000
28. 2015-01-11
    price $129,000
29. 2014-12-10
    price $134,000
30. 2014-08-04
    price $138,000 Price Change
31. 2014-05-19
    listed $168,000 New
32. 2014-05-19
    listed $124,000

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 78% 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: $44,079
• − Mortgage interest: −$16,805
• − Property taxes: −$4,500
• − Insurance: −$2,166
• − Repairs & maintenance: −$3,526
• − Management: −$3,526
• − HOA: −$35,640
• − Depreciation: −$8,727
• Taxable loss: −$30,812
• Est. tax savings @ 24.0%: +$7,395
• After-tax cash flow: $-18,968/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: 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

+141.9% since first listed

26 events — show timeline

• 2026-03-11 Listed $300,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-19 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-04-26 Listed $299,999 OneKey® MLS as Distributed by MLS Grid
• 2025-04-25 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2021-11-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-08-31 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-08-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-07-13 Price Changed $199,000 OneKey® MLS as Distributed by MLS Grid
• 2021-06-24 Price Changed $209,000 OneKey® MLS as Distributed by MLS Grid
• 2021-05-28 Listed $219,000 OneKey® MLS as Distributed by MLS Grid
• 2021-05-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-04-01 Price Changed $227,000 OneKey® MLS as Distributed by MLS Grid
• 2020-11-11 Price Changed $228,000 OneKey® MLS as Distributed by MLS Grid
• 2020-10-07 Price Changed $229,000 OneKey® MLS as Distributed by MLS Grid
• 2020-09-22 Price Changed $239,000 OneKey® MLS as Distributed by MLS Grid
• 2020-08-28 Price Changed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2020-08-19 Listed $259,000 OneKey® MLS as Distributed by MLS Grid
• 2015-09-04 Sold (MLS) $100,000 OneKey® MLS as Distributed by MLS Grid
• 2015-09-04 Sold (MLS) $100,000 MLSLI
• 2015-05-17 Pending — MLSLI
• 2015-02-26 Price Changed $124,000 MLSLI
• 2015-01-11 Price Changed $129,000 MLSLI
• 2014-12-10 Price Changed $134,000 MLSLI
• 2014-08-04 Price Changed $138,000 MLSLI
• 2014-05-19 Listed $168,000 MLSLI
• 2014-05-19 Listed $124,000 OneKey® MLS as Distributed by MLS Grid