1197 E Broadway Unit K24 · Hewlett, NY 11557

$199,000

2 bd · 1.0 ba · 850 sqft · Condo · 297 Days on market

Built 1955 Good condition ↓ 17% since listing

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +13.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

Lovely 2 Bedroom Co-Op Apartment On The Top Floor In Garden Town For $199,000. Boasting A Balcony Overlooking The Beautiful Serene Landscape That Garden Town Is Known For! A Convenient Location, Close To Hewlett LIRR Station, Stores & Restaurants! Freshly Painted, Beautiful Hardwood Floors, Lots of Storage & Washer/Dryer In Unit! Move Right In!

Key facts

• Lots of storage
• Washer dryer in unit
• Built 1955

Tags

• BALCONY OVERLOOKING LANDSCAPE
• WASHER DRYER IN UNIT
• LOTS OF STORAGE

🏢 Co-op / cooperative unit. The $199,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $199k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.3% 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: 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; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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 $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 297 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; 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 $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 297 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.62% ✓
• Cap rate: 13.31%
• Cash-on-cash: 25.07%
• DSCR: 2.12
• GRM: 5.2

CMA / ARV

• ARV (median comp): $226,463
• List price: $199,000
• Delta: -12.13%
• 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: 17.1%
• Equity multiple: 1.69×
• Total profit: $38,436
• Equity at exit: $29,672

10-year hold

• IRR: 25.6%
• Equity multiple: 3.24×
• Total profit: $124,713
• Equity at exit: $17,206

Cash invested: $55,720 (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 11557

• Active inventory: 71
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $3,214 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$675
• Net cashflow: $1,108

Break-even live

Break-even rent $1,811

Max offer price $199,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,246	-5% $1,177	+0% $1,108	+5% $1,040	+10% $971
Rent	-10% $855	-5% $982	+0% $1,108	+5% $1,235	+10% $1,362
Rate	-1.0pp $1,209	-0.5pp $1,159	base $1,108	+0.5pp $1,057	+1.0pp $1,004

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
227 Franklin Pl Woodmere, NY	3.0	1.0	950	$3,400	$3.58	44d	1	0.55mi
510 Dubois Ave Apt 3C Valley Stream, NY	2.0	1.5	1050	$3,400	$3.24	44d	1	1.04mi
141 Munro Blvd Valley Stream, NY	1.0	1.0	1000	$1,300	$1.30	18d	1	1.07mi
65 Prospect Ave Apt 15W Lynbrook, NY	2.0	2.0	1060	$3,680	$3.47	22d	1	1.16mi
65 Prospect Ave Unit 2W Lynbrook, NY	1.0	1.0	800	$3,055	$3.82	44d	1	1.16mi
623 Central Ave Unit 306 Cedarhurst, NY	1.0	1.0	1000	$2,550	$2.55	19d	1	1.34mi
601 Chestnut St Unit A-21 Cedarhurst, NY	1.0	1.0	700	$2,850	$4.07	44d	1	1.37mi

HOA detail condo

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

Listing history 21 events

1. 2026-06-18
   days on market $199,000 Active 297 DOM
2. 2026-06-17
   days on market $199,000 Active 296 DOM
3. 2026-06-16
   days on market $199,000 Active 295 DOM
4. 2026-06-15
   days on market $199,000 Active 294 DOM
5. 2026-06-13
   days on market $199,000 Active 292 DOM
6. 2026-06-13
   days on market $199,000 Active 291 DOM
7. 2026-06-09
   days on market $199,000 Active 288 DOM
8. 2026-06-08
   days on market $199,000 Active 287 DOM
9. 2026-06-07
   days on market $199,000 Active 286 DOM
10. 2026-06-04
    days on market $199,000 Active 283 DOM
11. 2026-06-03
    days on market $199,000 Active 282 DOM
12. 2026-06-02
    days on market $199,000 Active 281 DOM
13. 2026-06-01
    days on market $199,000 Active 280 DOM
14. 2026-05-31
    days on market $199,000 Active 279 DOM
15. 2026-01-06
    price $199,000 354-char remark

    Show marketing remark (354 chars)

    Lovely 2 Bedroom Co-Op Apartment On The Top Floor In Garden Town For $199,000. Boasting A Balcony Overlooking The Beautiful Serene Landscape That Garden Town Is Known For! A Convenient Location, Close To Hewlett LIRR Station, Stores & Restaurants! Freshly Painted, Beautiful Hardwood Floors, Lots of Storage & Washer/Dryer In Unit! Move Right In!

16. 2025-11-12
    price $209,000 354-char remark

    Show marketing remark (354 chars)

    Lovely 2 Bedroom Co-Op Apartment On The Top Floor In Garden Town For $199,000. Boasting A Balcony Overlooking The Beautiful Serene Landscape That Garden Town Is Known For! A Convenient Location, Close To Hewlett LIRR Station, Stores & Restaurants! Freshly Painted, Beautiful Hardwood Floors, Lots of Storage & Washer/Dryer In Unit! Move Right In!

17. 2025-09-19
    price $229,000 354-char remark

    Show marketing remark (354 chars)

    Lovely 2 Bedroom Co-Op Apartment On The Top Floor In Garden Town For $199,000. Boasting A Balcony Overlooking The Beautiful Serene Landscape That Garden Town Is Known For! A Convenient Location, Close To Hewlett LIRR Station, Stores & Restaurants! Freshly Painted, Beautiful Hardwood Floors, Lots of Storage & Washer/Dryer In Unit! Move Right In!

18. 2025-08-21
    listed $239,000 Active 354-char remark

    Show marketing remark (354 chars)

    Lovely 2 Bedroom Co-Op Apartment On The Top Floor In Garden Town For $199,000. Boasting A Balcony Overlooking The Beautiful Serene Landscape That Garden Town Is Known For! A Convenient Location, Close To Hewlett LIRR Station, Stores & Restaurants! Freshly Painted, Beautiful Hardwood Floors, Lots of Storage & Washer/Dryer In Unit! Move Right In!

19. 2025-03-19
    status Pending
20. 2025-03-19
    historical
21. 2025-02-24
    listed $239,000 Active

ⓘ 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: $38,571
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$1,662
• − Repairs & maintenance: −$3,086
• − Management: −$3,086
• − Depreciation: −$5,789
• Taxable income: $10,817
• Est. tax owed @ 24.0%: −$2,596
• After-tax cash flow: $10,706/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 · 12 photos

Good 75/100 Cosmetic rehab

This 2-bedroom condo is in good condition with cosmetic updates needed to modernize the kitchen and improve curb appeal.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate kitchen countertops — outdated and in need of updating

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizing the kitchen would appeal to both buyers and renters
• Both paint exterior — fresh paint would improve curb appeal and value
• Both landscaping — improved landscaping would enhance curb appeal and attract more potential buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
kitchen countertops · outdated and in need of updating	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$6,000–30,000

Value-add ROI direction

• Both update kitchen cabinets and countertops — modernizing the kitchen would appeal to both buyers and renters ↑
• Both paint exterior — fresh paint would improve curb appeal and value ↑
• Both landscaping — improved landscaping would enhance curb appeal and attract more potential buyers ↑

ⓘ 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

-16.7% since first listed

7 events — show timeline

• 2026-01-06 Price Changed $199,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-12 Price Changed $209,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-19 Price Changed $229,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-21 Listed $239,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-03-19 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-02-24 Listed $239,000 OneKey® MLS as Distributed by MLS Grid