3551 Condor Rd · Levittown, NY 11756

$599,000

4 bd · 1.0 ba · 1,075 sqft · SingleFamily public records · 6 Days on market

Built 1949 6,000 sqft lot $557/sqft · 21% below area Est $755k · 21% under

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Why this score? — see what drove the D+ 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 +15.0/15.0
• Cash flow +12.5/30.0
• Schools +6.6/10.0
• Livability +4.1/5.0
• DSCR +3.7/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 3551 Condor Road, a lovingly maintained classic Miller Cape Cod nestled on a quiet street in the heart of Levittown and located within the Island Trees School District. Offering four bedrooms, one full bathroom, and a full basement, this home features a functional layout with a first-floor primary bedroom, comfortable living area, and an eat-in kitchen. Recent updates and amenities include a 5-year-young roof, new chimney liner, 100-amp electric service, and in-ground sprinklers in both the front and rear yards. Step outside to enjoy the fully fenced, private backyard complete with a patio and awning, perfect for relaxing or entertaining. Conveniently located near shopping, resta

Key facts

• 6,000 sq ft lot
• Built 1949
• Listed 5 days

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public sewer; Electricity connected; Water connected
• Home design: Single family residence
• Construction: Vinyl siding; Full (finished) basement; Crawl attic
• Exterior features: Full vinyl fence

Interior

• Kitchen: Convection oven; Cooktop (electric); Electric range/oven; Microwave; Refrigerator; Stainless steel appliances
• Bedrooms: Total rooms: 6
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; No central air
• Interior features: First-floor bedroom; Storm door(s); Patio

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $599k.

Deal economics

• At list price, monthly cash flow is $-87 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $584k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $451k (24.7% below list).
• Recommended offer: $451k (24.7% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.4% in Levittown — 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 82/100 on livability (#73 in NY, #1,134 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A+, employment A+; Watch: amenities D+, cost of living F.
• Island Trees Union Free School District (suburban): math 72% / reading 74% proficiency, ranked #79 of 590 in NY (top 13%) — strong family-tenant draw, lease renewals of 3-5y typical; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: 229 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• This rent runs 37% of the median local income ($146k/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 $4k of loan paydown is wiped out by about $18k 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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $68k; list at $599k implies a 774% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 53% 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 $451,334 (24.7% 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. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.75% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.62%
• DSCR: 0.97
• GRM: 11.1

CMA / ARV

• ARV (median comp): $754,613
• List price: $599,000
• Delta: -20.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
125 Meridian Rd	0.16mi	4/1.0	1,154 (+7%)	7mo	$629,000	$545	74
1 Ranch Ln	0.44mi	3/1.0 (-1)	1,050 (-2%)	3mo	$558,000	$531	68
38 Celestial Ln	0.18mi	4/2.0	1,200 (+12%)	2mo	$675,000	$563	67
140 Jerusalem Ave	0.57mi	3/1.0 (-1)	1,050 (-2%)	2mo	$615,000	$586	63
7 Constable Ln	0.68mi	4/1.5	1,114 (+4%)	1mo	$710,000	$637	60
59 Corncrib Ln	0.64mi	4/1.5	1,134 (+6%)	0mo	$680,000	$600	59
15 Hewmann Pl	0.69mi	3/1.0 (-1)	1,079 (+0%)	6mo	$650,000	$602	57
59 Cotton Ln	0.64mi	4/1.0	1,154 (+7%)	6mo	$700,000	$607	53
111 Michael Pl	0.50mi	3/2.0 (-1)	1,140 (+6%)	6mo	$735,000	$645	53
89 Tanners Ln	0.75mi	3/1.0 (-1)	1,050 (-2%)	6mo	$610,000	$581	52
12 Meridian Rd	0.49mi	4/2.0	1,200 (+12%)	4mo	$768,000	$640	50
113 Hickory Ln	0.64mi	3/1.5 (-1)	1,182 (+10%)	0mo	$650,000	$550	46

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: -17.4%
• Equity multiple: 0.39×
• Total profit: $-102,837
• Equity at exit: $89,313

10-year hold

• IRR: -9.5%
• Equity multiple: 0.42×
• Total profit: $-97,624
• Equity at exit: $51,791

Cash invested: $167,720 (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 11756

• Active inventory: 229
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $4,513 high
• Mortgage (P&I): −$3,141
• Tax from tax record: −$262 /mo · $3,141/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$948
• Net cashflow: $-87

Break-even live

Break-even rent $4,623

Max offer price $583,628

Occupancy floor 97%

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3685 Prairie Path Bethpage, NY	3.0	2.0	1300	$4,500	$3.46	43d	1	0.56mi
8 Farmedge Rd Bethpage, NY	4.0	2.0	1269	$4,500	$3.55	1d	1	0.58mi
152 Harrison Ave Unit A Bethpage, NY	4.0	2.0	1200	$4,200	$3.50	43d	1	0.98mi
68 Summer Ln Hicksville, NY	4.0	1.5	1236	$4,750	$3.84	20d	1	1.27mi
68 Summer Ln Hicksville, NY	4.0	1.5	1236	$4,700	$3.80	1d	1	1.27mi
68 Summer Ln Hicksville, NY	4.0	1.5	1236	$4,700	$3.80	6d	1	1.27mi
22 Shelter Ln Levittown, NY	3.0	1.5	1050	$4,500	$4.29	1d	1	1.49mi

Listing history 8 events

1. 2026-06-17
   days on market $599,000 Active 6 DOM
2. 2026-06-16
   days on market $599,000 Active 5 DOM
3. 2026-06-15
   days on market $599,000 Active 4 DOM
4. 2026-06-13
   days on market $599,000 Active 2 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   statusdays on market $599,000 Active 1 DOM
7. 2026-05-01
   historical
8. 1983-08-01
   soldstatus $68,500

ⓘ 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: $3,141 · $262/mo
• Projected year-2 tax: $6,632 · $553/mo
• Expected delta: +$3,491/yr (+$291/mo · 111.1%)

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

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 ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 53% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,160
• − Mortgage interest: −$33,553
• − Property taxes: −$3,141
• − Insurance: −$2,995
• − Repairs & maintenance: −$4,333
• − Management: −$4,333
• − Depreciation: −$17,425
• Taxable loss: −$11,620
• Est. tax savings @ 24.0%: +$2,789
• After-tax cash flow: $1,745/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 Trees Union Free School District
• NCES district ID: 3615510
• Math proficiency: 72% ▼ -4.00%
• Reading proficiency: 74% ▬ 0.00%
• Median HH income: $96,206
• Composite: 66.27/100
• National rank: #427
• State rank: #79 of 590 in NY

Livability — Levittown

• Score: 82/100
• State rank: #73
• US rank: #1134

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Levittown, NY
• County: Nassau County · 653,051 people
• City population: 42,665
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 42,665
• Household income: $146,019
• Rent vs Own: 7.7% rent · 92.3% own
• Severe rent burden: 116.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 18% Asian 12% Two or more races 10% Black 2%
• Hispanic origin (detail): Puerto Rican 4% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Lithuanian 1%
• Foreign-born: 17% · Canada, China, Jamaica
• Languages at home: 76% English-only · Spanish 11% Other Indo-European 5% Chinese 3%

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: ▼ -796.99%
• Current HPI: 335.718
• 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

3 events — show timeline

• 2026-06-11 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-05-01 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 1983-08-01 Sold (Public Records) $68,500 Public Records

Property tax history

-4.5%/yr

Latest (2024): $3,141 · -21.3% YoY. Source: county tax records.