1 Town House Pl Unit 2E · Great Neck Plaza, NY 11021

$318,000

1 bd · 1.0 ba · 865 sqft · Condo · 2 Days on market

Built 1953

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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 +20.3/30.0
• Schools +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.4/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Location-Close Proximity To Lirr, Shopping,gym And Restaurants.Spacious 2nd Floor Corner 1 Bedroom 1 Bath Coop In The Heart Of Town. Remodeled Large Eat in Kitchen.Washer/Dryer In Unit.Large Bed Rm, Plenty Of Closets And Hardwood Floors Through Out. Parking With Resident Sticker In Complex. Municipal Parking Near By. Gn Park District Pool, Skate Rink,Tennis And Parks., Additional information: Appearance:EXCELLENT,Interior Features:Lr/Dr

Key facts

• Bonus room
• Eat-in kitchen
• Abundant cabinetry

Tags

• BONUS ROOM
• EAT-IN KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• ABUNDANT CABINETRY
• HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $318k.

Deal economics

• At list price, monthly cash flow is $352 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $318k).
• Cap rate 7.8% vs local median 4.4% in Great Neck Plaza — 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 85/100 on livability (#35 in NY, #551 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living F.
• Great Neck Union Free School District (suburban): math 86% / reading 83% proficiency, ranked #30 of 590 in NY (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: Saddle Rock School (math 87% / reading 82%, grade A+, #93 of 2,108 statewide, top 6%, 542 students, 16% FRL); Great Neck South Middle School (math 79% / reading 81%, grade A+, #28 of 729 statewide, top 4%, 861 students, 23% FRL); Great Neck South High School (math 100% / reading 92%, grade A+, #71 of 1,100 statewide, top 7%, 1,262 students, 0% FRL) — zoned schools at 13% FRL track the district average.
• Market conditions: 201 active listings in the ZIP; 19 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).
• This rent runs 33% of the median local income ($120k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $30k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $275k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $318,000

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 B-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: 1.04% ✓
• Cap rate: 7.83%
• Cash-on-cash: 5.49%
• DSCR: 1.24
• GRM: 8.0

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: -8.9%
• Equity multiple: 0.67×
• Total profit: $-29,043
• Equity at exit: $47,415

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $3,897
• Equity at exit: $27,495

Cash invested: $89,040 (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 11021

• Active inventory: 201
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $3,297 high
• Mortgage (P&I): −$1,668
• Tax est. 1.5%: −$398 /mo · $4,770/yr
• Insurance: −$132
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$692
• Net cashflow: $352

Break-even live

Break-even rent $2,852

Max offer price $318,000

Occupancy floor 84%

Sensitivity live

Price	-10% $572	-5% $462	+0% $352	+5% $242	+10% $132
Rent	-10% $91	-5% $221	+0% $352	+5% $482	+10% $612
Rate	-1.0pp $512	-0.5pp $433	base $352	+0.5pp $269	+1.0pp $186

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: $79,500
• Closing costs: $9,540
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
141 Great Neck Rd Unit 2G Great Neck, NY	2.0	1.5	1000	$4,250	$4.25	4d	1	0.18mi
4 Maple Dr Apt 6H Great Neck, NY	1.0	1.0	900	$2,300	$2.56	45d	1	0.22mi
7 Bond St Unit 3J Great Neck, NY	1.0	1.0	650	$2,800	$4.31	21d	1	0.22mi
4 Chelsea Pl Apt 3F Great Neck, NY	2.0	2.0	900	$4,600	$5.11	25d	1	0.22mi
50 Knightsbridge Rd Unit 2B Great Neck Plaza, NY	2.0	1.0	850	$3,450	$4.06	5d	1	0.23mi
60 Knightsbridge Rd Unit 3F Great Neck Plaza, NY	2.0	1.0	850	$3,550	$4.18	5d	1	0.24mi
70 Knightsbridge Rd Unit 3F Great Neck Plaza, NY	2.0	1.0	850	$3,450	$4.06	45d	1	0.25mi
16 Stoner Ave Unit 2G Great Neck, NY	1.0	1.0	700	$2,800	$4.00	45d	1	0.35mi
11 Schenck Ave Unit 2D Great Neck Plaza, NY	1.0	1.0	750	$2,200	$2.93	45d	1	0.38mi
10 Canterbury Rd Great Neck, NY	1.0	1.5	796	$3,600	$4.52	0d	1	0.40mi
17 Schenck Ave Unit 3B Great Neck Plaza, NY	1.0	1.0	700	$2,295	$3.28	14d	1	0.41mi
12 Welwyn Rd Unit 2P Great Neck Plaza, NY	2.0	1.0	795	$2,735	$3.44	45d	1	0.50mi
37 Spruce St Unit 2 Great Neck, NY	2.0	1.0	900	$3,500	$3.89	45d	1	0.88mi
261 Schenck Ave Unit 2nd Floor Great Neck, NY	2.0	1.0	1000	$3,500	$3.50	25d	1	1.08mi
261 Schenck Ave Unit 1st Floor Great Neck, NY	2.0	1.0	975	$3,700	$3.79	25d	1	1.08mi
14 Beach Rd Unit 3B Great Neck, NY	2.0	1.0	850	$3,500	$4.12	20d	1	1.18mi
14 Beach Rd Unit 3A Great Neck, NY	2.0	1.0	1000	$3,400	$3.40	11d	1	1.18mi
240 E Shore Rd Great Neck, NY	3.0	1.0–2.5	999	$4,803	$4.81	0d	1	1.20mi
4212 Marathon Pkwy Little Neck, NY	1.0	1.0	550	$2,375	$4.32	25d	1	1.22mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-21
   pricestatusdays on marketlisting id $318,000 Active 2 DOM
2. 2026-03-02
   status Pending
3. 2025-10-09
   status Active
4. 2025-10-09
   price $328,000
5. 2025-08-06
   status Pending
6. 2025-04-29
   listed $348,000 Active
7. 2020-06-10
   soldstatus $275,000 Closed 447-char remark

   Show marketing remark (447 chars)

   Great Location-Close Proximity To Lirr, Shopping,gym And Restaurants.Spacious 2nd Floor Corner 1 Bedroom 1 Bath Coop In The Heart Of Town. Remodeled Large Eat in Kitchen.Washer/Dryer In Unit.Large Bed Rm, Plenty Of Closets And Hardwood Floors Through Out. Parking With Resident Sticker In Complex. Municipal Parking Near By. Gn Park District Pool, Skate Rink,Tennis And Parks., Additional information: Appearance:EXCELLENT,Interior Features:Lr/Dr

8. 2020-03-27
   status Pending 447-char remark

   Show marketing remark (447 chars)

   Great Location-Close Proximity To Lirr, Shopping,gym And Restaurants.Spacious 2nd Floor Corner 1 Bedroom 1 Bath Coop In The Heart Of Town. Remodeled Large Eat in Kitchen.Washer/Dryer In Unit.Large Bed Rm, Plenty Of Closets And Hardwood Floors Through Out. Parking With Resident Sticker In Complex. Municipal Parking Near By. Gn Park District Pool, Skate Rink,Tennis And Parks., Additional information: Appearance:EXCELLENT,Interior Features:Lr/Dr

9. 2020-01-27
   status Under Contract 447-char remark

   Show marketing remark (447 chars)

   Great Location-Close Proximity To Lirr, Shopping,gym And Restaurants.Spacious 2nd Floor Corner 1 Bedroom 1 Bath Coop In The Heart Of Town. Remodeled Large Eat in Kitchen.Washer/Dryer In Unit.Large Bed Rm, Plenty Of Closets And Hardwood Floors Through Out. Parking With Resident Sticker In Complex. Municipal Parking Near By. Gn Park District Pool, Skate Rink,Tennis And Parks., Additional information: Appearance:EXCELLENT,Interior Features:Lr/Dr

10. 2020-01-14
    listed $295,000 New 447-char remark

    Show marketing remark (447 chars)

    Great Location-Close Proximity To Lirr, Shopping,gym And Restaurants.Spacious 2nd Floor Corner 1 Bedroom 1 Bath Coop In The Heart Of Town. Remodeled Large Eat in Kitchen.Washer/Dryer In Unit.Large Bed Rm, Plenty Of Closets And Hardwood Floors Through Out. Parking With Resident Sticker In Complex. Municipal Parking Near By. Gn Park District Pool, Skate Rink,Tennis And Parks., Additional information: Appearance:EXCELLENT,Interior Features:Lr/Dr

11. 2018-03-08
    soldstatus $259,000 Closed 374-char remark

    Show marketing remark (374 chars)

    Great Location-Close Proximity To Lirr, Shopping And Restaurants.Spacious 2nd Floor Corner Unit. 1Br/1Bth Rm Coop In The Heart Of Town. Remodeled Kitchen.Washer/Dryer In Unit. Hardwood Floors Through Out. Parking With Resident Sticker In Complex. Municipal Parking Near By. Gn Park District Pool, Skate Rink,Tennis And Parks., Additional information: Interior Features:Lr/Dr

12. 2017-12-21
    status Under Contract 374-char remark

    Show marketing remark (374 chars)

    Great Location-Close Proximity To Lirr, Shopping And Restaurants.Spacious 2nd Floor Corner Unit. 1Br/1Bth Rm Coop In The Heart Of Town. Remodeled Kitchen.Washer/Dryer In Unit. Hardwood Floors Through Out. Parking With Resident Sticker In Complex. Municipal Parking Near By. Gn Park District Pool, Skate Rink,Tennis And Parks., Additional information: Interior Features:Lr/Dr

13. 2017-12-07
    price $275,888 374-char remark

    Show marketing remark (374 chars)

    Great Location-Close Proximity To Lirr, Shopping And Restaurants.Spacious 2nd Floor Corner Unit. 1Br/1Bth Rm Coop In The Heart Of Town. Remodeled Kitchen.Washer/Dryer In Unit. Hardwood Floors Through Out. Parking With Resident Sticker In Complex. Municipal Parking Near By. Gn Park District Pool, Skate Rink,Tennis And Parks., Additional information: Interior Features:Lr/Dr

14. 2017-11-10
    listed $278,888 New 374-char remark

    Show marketing remark (374 chars)

    Great Location-Close Proximity To Lirr, Shopping And Restaurants.Spacious 2nd Floor Corner Unit. 1Br/1Bth Rm Coop In The Heart Of Town. Remodeled Kitchen.Washer/Dryer In Unit. Hardwood Floors Through Out. Parking With Resident Sticker In Complex. Municipal Parking Near By. Gn Park District Pool, Skate Rink,Tennis And Parks., Additional information: Interior Features:Lr/Dr

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,568
• − Mortgage interest: −$17,813
• − Property taxes: −$4,770
• − Insurance: −$2,256
• − Repairs & maintenance: −$3,165
• − Management: −$3,165
• − Depreciation: −$9,251
• Taxable loss: −$853
• Est. tax savings @ 24.0%: +$205
• After-tax cash flow: $4,426/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: Great Neck Union Free School District
• NCES district ID: 3612510
• Math proficiency: 86% ▬ 0.00%
• Reading proficiency: 83% ▬ 0.00%
• Median HH income: $99,939
• Composite: 76.19/100
• National rank: #111
• State rank: #30 of 590 in NY

Livability — Great Neck Plaza

• Score: 85/100
• State rank: #35
• US rank: #551

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: Great Neck Plaza, NY
• County: Nassau County · 653,051 people
• City population: 19,474
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 19,783
• Household income: $120,230
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 601.0

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 0.59)
• Race & ethnicity: White 56% Asian 31% Hispanic / Latino 8% Two or more races 5% Black 1%
• Common ancestry: Scotch-Irish 5% Romanian 4% Subsaharan African 1%
• Foreign-born: 36% · China, Canada, South Korea
• Languages at home: 54% English-only · Chinese 16% Other Indo-European 10% Spanish 7%

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: ▼ -736.84%
• Current HPI: 254.751
• 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

+17.6% since first listed

13 events — show timeline

• 2026-03-02 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-10-09 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-10-09 Price Changed $328,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-04-29 Listed $348,000 OneKey® MLS as Distributed by MLS Grid
• 2020-06-10 Sold (MLS) $275,000 OneKey® MLS as Distributed by MLS Grid
• 2020-03-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2020-01-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2020-01-14 Listed $295,000 OneKey® MLS as Distributed by MLS Grid
• 2018-03-08 Sold (MLS) $259,000 OneKey® MLS as Distributed by MLS Grid
• 2017-12-21 Pending — OneKey® MLS as Distributed by MLS Grid
• 2017-12-07 Price Changed $275,888 OneKey® MLS as Distributed by MLS Grid
• 2017-11-10 Listed $278,888 OneKey® MLS as Distributed by MLS Grid