26 Lancaster Rd · Island Park, NY 11558

$749,000

4 bd · 3.0 ba · 2,524 sqft · MultiFamily public records · 8 Days on market

Built 1966 6,000 sqft lot Est $886k · 15% 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 +23.1/30.0
• ARV discount +14.5/15.0
• DSCR +7.4/10.0
• 1% rule +5.8/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• 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 MLS

Legal 2 Family home High Ranch style - 3 bedroom/2 bath over 2 bedroom/1 bath. 1st floor tenanted, 2nd floor will be vacant. Gas heat and cooking, large yard, separate entrances. hardwood floors on 2nd floor, attic access. Great for investors and families. Close to LIRR and schools, shops Commuters dream!, Additional information: Appearance:Excellent,Interior Features:Lr/Dr

Key facts

• Large eat-in kitchen
• Private entrance
• Lots of windows

Tags

• PRIVATE ENTRANCE
• LARGE EAT-IN KITCHEN
• STACKABLE WASHER DRYER
• GENEROUSLY SIZED LIVING ROOM
• LOTS OF WINDOWS
• HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $749k.

Deal economics

• At list price, monthly cash flow is $888 ($11k/yr) — positive. Per door: $444/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $749k).

Location & tenants

• Location reads 78/100 on livability (#160 in NY, #2,453 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Island Park Union Free School District (suburban): math 43% / reading 62% proficiency, ranked #300 of 590 in NY (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Francis X Hegarty Elementary School (math 42% / reading 72%, grade C+, #842 of 2,108 statewide, top 43%, 415 students, 34% FRL); Island Park Lincoln Orens Middle School (math 42% / reading 57%, grade C, #280 of 729 statewide, top 40%, 271 students, 44% FRL).
• Market conditions: 43 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• At $8,111/mo this rent would consume 88% of the median local household income ($111k/yr) (locally 371% 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 $5k of loan paydown is wiped out by about $22k 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y 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 $550k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $749,000

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 1966 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.08% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.72%
• DSCR: 1.34
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $885,924
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26 Lancaster Rd	0.00mi	5/3.0 (+1)	2,524 (0%)	1mo	$750,000	$297	94
272 E Harrison St	0.52mi	5/3.0 (+1)	2,710 (+7%)	4mo	$950,000	$351	55

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -8.4%
• Equity multiple: 0.69×
• Total profit: $-64,464
• Equity at exit: $111,678

10-year hold

• IRR: 1.2%
• Equity multiple: 1.09×
• Total profit: $18,067
• Equity at exit: $64,760

Cash invested: $209,720 (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 11558

• Home prices YoY: -24.6%
• Active inventory: 43
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $8,111 high
• Mortgage (P&I): −$3,928
• Tax from tax record: −$819 /mo · $9,829/yr
• Insurance: −$312
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,703
• Net cashflow: $888

Break-even live

Break-even rent $6,987

Max offer price $749,000

Occupancy floor 84%

Sensitivity live

Price	-10% $1,312	-5% $1,100	+0% $888	+5% $676	+10% $464
Rent	-10% $247	-5% $568	+0% $888	+5% $1,209	+10% $1,529
Rate	-1.0pp $1,265	-0.5pp $1,079	base $888	+0.5pp $694	+1.0pp $497

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$8,110
Total (2 units)			$8,111

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: $187,250
• Closing costs: $22,470
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Harbor Ter Island Park, NY	1.0–3.0	1.0–3.0	1342	$5,700	$4.25	0d	1	0.25mi
428 E Harrison St Unit 2nd floor Long Beach, NY	3.0	2.0	3066	$4,200	$1.37	45d	1	0.67mi
227 W Pine St Long Beach, NY	4.0	3.0	3000	$17,000	$5.67	0d	1	0.77mi
225 E Walnut St Unit 1 Long Beach, NY	3.0	2.0	2500	$4,300	$1.72	46d	1	0.85mi
429 E Park Ave Unit 2nd Floor Long Beach, NY	3.0	2.0	2791	$4,350	$1.56	45d	1	0.88mi
361 E Olive St #3 Long Beach, NY	3.0	1.0	2494	$4,000	$1.60	5d	1	0.95mi
322 E Beech St Long Beach, NY	4.0	3.0	2300	$15,000	$6.52	26d	1	1.00mi
269 E Broadway #24 Long Beach, NY	3.0	2.0	1848	$4,700	$2.54	20d	1	1.06mi
26 W Broadway Long Beach, NY	2.0–3.0	2.0	1625	$6,500	$4.00	17d	2	1.12mi
434 E Broadway Unit A Long Beach, NY	3.0	2.5	3000	$17,000	$5.67	26d	1	1.16mi
401 W Walnut St Long Beach, NY	3.0	2.0	2458	$4,200	$1.71	26d	1	1.19mi
119 Belmont Ave Long Beach, NY	3.0	3.0	2560	$5,900	$2.30	22d	1	1.40mi

Listing history 9 events

1. 2026-03-02
   status Pending
2. 2026-01-12
   listed $749,000 Active
3. 2020-12-07
   soldstatus $550,000
4. 2020-11-20
   soldstatus $550,000 Closed 379-char remark

   Show marketing remark (379 chars)

   Legal 2 Family home High Ranch style - 3 bedroom/2 bath over 2 bedroom/1 bath. 1st floor tenanted, 2nd floor will be vacant. Gas heat and cooking, large yard, separate entrances. hardwood floors on 2nd floor, attic access. Great for investors and families. Close to LIRR and schools, shops Commuters dream!, Additional information: Appearance:Excellent,Interior Features:Lr/Dr

5. 2020-08-21
   listed $539,000 Active 379-char remark

   Show marketing remark (379 chars)

   Legal 2 Family home High Ranch style - 3 bedroom/2 bath over 2 bedroom/1 bath. 1st floor tenanted, 2nd floor will be vacant. Gas heat and cooking, large yard, separate entrances. hardwood floors on 2nd floor, attic access. Great for investors and families. Close to LIRR and schools, shops Commuters dream!, Additional information: Appearance:Excellent,Interior Features:Lr/Dr

6. 2018-04-13
   soldstatus $420,500
7. 2018-03-28
   soldstatus $420,500 Closed 388-char remark

   Show marketing remark (388 chars)

   Beautifully Updated Brick Hi Ranch - Legal 2 Family Home In The Village Of Island Park. Updated Kitchens, Hardwood Floors, Great Backyard. New Roof And Mechanicals. Just Move Right In! Close Proximity To Lirr And Shopping. A Commuter's Delight! Perfect For The Extended Family As Well! Great Rental Opportunity!, Additional information: Appearance:Excellent,Separate Hotwater Heater:Yes

8. 2018-01-03
   status Under Contract 388-char remark

   Show marketing remark (388 chars)

   Beautifully Updated Brick Hi Ranch - Legal 2 Family Home In The Village Of Island Park. Updated Kitchens, Hardwood Floors, Great Backyard. New Roof And Mechanicals. Just Move Right In! Close Proximity To Lirr And Shopping. A Commuter's Delight! Perfect For The Extended Family As Well! Great Rental Opportunity!, Additional information: Appearance:Excellent,Separate Hotwater Heater:Yes

9. 2017-12-12
   listed $410,000 New 388-char remark

   Show marketing remark (388 chars)

   Beautifully Updated Brick Hi Ranch - Legal 2 Family Home In The Village Of Island Park. Updated Kitchens, Hardwood Floors, Great Backyard. New Roof And Mechanicals. Just Move Right In! Close Proximity To Lirr And Shopping. A Commuter's Delight! Perfect For The Extended Family As Well! Great Rental Opportunity!, Additional information: Appearance:Excellent,Separate Hotwater Heater:Yes

ⓘ 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: $9,829 · $819/mo
• Projected year-2 tax: $11,244 · $937/mo
• Expected delta: +$1,414/yr (+$118/mo · 14.4%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $97,332
• − Mortgage interest: −$41,956
• − Property taxes: −$9,829
• − Insurance: −$9,270
• − Repairs & maintenance: −$7,787
• − Management: −$7,787
• − Depreciation: −$21,789
• Taxable loss: −$1,085
• Est. tax savings @ 24.0%: +$260
• After-tax cash flow: $10,919/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: Island Park Union Free School District
• NCES district ID: 3615480
• Math proficiency: 43% ▼ -15.00%
• Reading proficiency: 62% ▲ 12.00%
• Median HH income: $78,138
• Composite: 47.47/100
• National rank: #2279
• State rank: #300 of 590 in NY

Livability — Island Park

• Score: 78/100
• State rank: #160
• US rank: #2453

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Island Park, NY
• County: Nassau County · 653,051 people
• City population: 8,454
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 8,454
• Household income: $111,032
• Rent vs Own: 32.6% rent · 67.4% own
• Severe rent burden: 371.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 15% Two or more races 8% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Romanian 4% American 4% Scotch-Irish 2%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 75% English-only · Spanish 12% Russian/Polish/Slavic 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: ▼ -106.33%
• Current HPI: 326.289
• 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

+82.7% since first listed

9 events — show timeline

• 2026-03-02 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-12 Listed $749,000 OneKey® MLS as Distributed by MLS Grid
• 2020-12-07 Sold (Public Records) $550,000 Public Records
• 2020-11-20 Sold (MLS) $550,000 OneKey® MLS as Distributed by MLS Grid
• 2020-08-21 Listed $539,000 OneKey® MLS as Distributed by MLS Grid
• 2018-04-13 Sold (Public Records) $420,500 Public Records
• 2018-03-28 Sold (MLS) $420,500 OneKey® MLS as Distributed by MLS Grid
• 2018-01-03 Pending — OneKey® MLS as Distributed by MLS Grid
• 2017-12-12 Listed $410,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+4.3%/yr

Latest (2024): $9,829 · +5.3% YoY. Source: county tax records.