610 Monroe Blvd · Long Beach, NY 11561

$889,000

6 bd · 2.0 ba · 1,466 sqft · MultiFamily public records · 90 Days on market

Built 1949 4,000 sqft lot $606/sqft · 29% below area Est $1245k · 29% 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 +20.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• Schools +5.9/10.0
• 1% rule +5.2/10.0
• Livability +4.1/5.0
• Rent growth +3.7/5.0
• 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

Absolutely pristine Legal two-family in Long Beach — recently renovated and move-in ready. Lower unit: spacious 2 bedrooms, fully remodeled kitchen with stainless steel appliances and quartz countertops, updated full bath, and gleaming hardwood floors throughout. Upper unit: bright 1 bedroom, renovated kitchen with stainless steel appliances and quartz countertops, updated full bath, hardwood floors, and private rear upper deck. Large fenced backyard — perfect for outdoor living and entertaining. Ideal location close proximity to the beach and boardwalk, restaurants, shops and LIRR. Strong rental or owner-occupier opportunity — showings by appointment.

Key facts

• 4,000 sq ft lot
• Built 1949
• Listed 89 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $889k.

Deal economics

• At list price, monthly cash flow is $686 ($8k/yr) — positive. Per door: $343/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $889k).
• Recommended offer: $836k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 2.1% in Long Beach — 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 (#84 in NY, #1,285 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: cost of living F.
• Long Beach City School District (suburban): math 66% / reading 65% proficiency, ranked #150 of 590 in NY (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.8%/yr); 353 active listings in the ZIP; high-income renter base; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• At $9,041/mo this rent would consume 77% of the median local household income ($142k/yr) (locally 1284% 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 $6k of loan paydown is wiped out by about $27k 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 90 days — a 6% lower offer ($836k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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 $350k; list at $889k implies a 154% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• 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→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $835,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.02% ✓
• Cap rate: 7.79%
• Cash-on-cash: 5.36%
• DSCR: 1.24
• GRM: 8.2

CMA / ARV

• ARV (median comp): $1,244,912
• List price: $889,000
• Delta: -28.59%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
342 E Fulton St	0.07mi	6/3.0	1,464 (-0%)	8mo	$840,000	$574	86

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 · 4.84% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.67×
• Total profit: $-83,007
• Equity at exit: $132,553

10-year hold

• IRR: 3.0%
• Equity multiple: 1.23×
• Total profit: $57,917
• Equity at exit: $76,864

Cash invested: $248,920 (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 11561

• Rents YoY: 4.8%
• Active inventory: 353
• Price-to-rent: 16.4×

Monthly cashflow live

• Estimated rent: $9,041 medium
• Mortgage (P&I): −$4,662
• Tax from tax record: −$998 /mo · $11,972/yr
• Insurance: −$370
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,899
• Net cashflow: $686

Break-even live

Break-even rent $8,173

Max offer price $889,000

Occupancy floor 87%

Sensitivity live

Price	-10% $1,189	-5% $937	+0% $686	+5% $434	+10% $183
Rent	-10% $-28	-5% $329	+0% $686	+5% $1,043	+10% $1,400
Rate	-1.0pp $1,133	-0.5pp $912	base $686	+0.5pp $455	+1.0pp $221

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$9,042
Total (2 units)			$9,041

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: $222,250
• Closing costs: $26,670
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-21
   days on market $889,000 Active 90 DOM
2. 2026-06-18
   days on market $889,000 Active 87 DOM
3. 2026-06-17
   days on market $889,000 Active 86 DOM
4. 2026-06-16
   days on market $889,000 Active 85 DOM
5. 2026-06-15
   days on market $889,000 Active 84 DOM
6. 2026-06-13
   days on market $889,000 Active 82 DOM
7. 2026-06-13
   days on market $889,000 Active 81 DOM
8. 2026-06-09
   days on market $889,000 Active 78 DOM
9. 2026-06-08
   days on market $889,000 Active 77 DOM
10. 2026-06-07
    days on market $889,000 Active 76 DOM
11. 2026-06-04
    days on market $889,000 Active 73 DOM
12. 2026-06-03
    days on market $889,000 Active 72 DOM
13. 2026-06-02
    days on market $889,000 Active 71 DOM
14. 2026-06-01
    days on market $889,000 Active 70 DOM
15. 2026-05-31
    days on market $889,000 Active 69 DOM
16. 2026-05-11
    price $889,000 678-char remark

    Show marketing remark (678 chars)

    Absolutely pristine Legal two-family in Long Beach — recently renovated and move-in ready. Lower unit: spacious 2 bedrooms, fully remodeled kitchen with stainless steel appliances and quartz countertops, updated full bath, and gleaming hardwood floors throughout. Upper unit: bright 1 bedroom, renovated kitchen with stainless steel appliances and quartz countertops, updated full bath, hardwood floors, and private rear upper deck. Large fenced backyard — perfect for outdoor living and entertaining. Ideal location close proximity to the beach and boardwalk, restaurants, shops and LIRR. Strong rental or owner-occupier opportunity — showings by appointment.

17. 2026-03-23
    listed $899,000 Active 678-char remark

    Show marketing remark (678 chars)

    Absolutely pristine Legal two-family in Long Beach — recently renovated and move-in ready. Lower unit: spacious 2 bedrooms, fully remodeled kitchen with stainless steel appliances and quartz countertops, updated full bath, and gleaming hardwood floors throughout. Upper unit: bright 1 bedroom, renovated kitchen with stainless steel appliances and quartz countertops, updated full bath, hardwood floors, and private rear upper deck. Large fenced backyard — perfect for outdoor living and entertaining. Ideal location close proximity to the beach and boardwalk, restaurants, shops and LIRR. Strong rental or owner-occupier opportunity — showings by appointment.

18. 2025-12-05
    historical $3,300
19. 2025-11-04
    listed $3,300
20. 2025-10-14
    listed $859,000 Active
21. 2025-10-13
    historical
22. 2016-02-01
    soldstatus $350,000
23. 2016-01-06
    soldstatus $350,000
24. 2016-01-06
    soldstatus $350,000 Closed
25. 2015-09-25
    status Under Contract
26. 2015-09-04
    historical
27. 2015-06-10
    price $399,900
28. 2015-06-04
    price $419,000
29. 2015-03-29
    listed $429,000 New
30. 2015-03-29
    listed $399,900
31. 1996-09-24
    soldstatus $152,000

ⓘ 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: $11,972 · $998/mo
• Projected year-2 tax: $13,498 · $1,125/mo
• Expected delta: +$1,526/yr (+$127/mo · 12.7%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 99% 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 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: $108,492
• − Mortgage interest: −$49,798
• − Property taxes: −$11,972
• − Insurance: −$9,564
• − Repairs & maintenance: −$8,679
• − Management: −$8,679
• − Depreciation: −$25,862
• Taxable loss: −$6,062
• Est. tax savings @ 24.0%: +$1,455
• After-tax cash flow: $9,684/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: Long Beach City School District
• NCES district ID: 3617730
• Math proficiency: 66% ▼ -6.00%
• Reading proficiency: 65% ▼ -1.00%
• Median HH income: $86,938
• Composite: 59.18/100
• National rank: #947
• State rank: #150 of 590 in NY

Livability — Long Beach

• Score: 82/100
• State rank: #84
• US rank: #1285

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Long Beach, NY
• County: Nassau County · 653,051 people
• City population: 38,708
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 38,708
• Household income: $141,629
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 1284.0

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 14% Two or more races 7% Asian 5% Black 4%
• Hispanic origin (detail): Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 4% Italian 2%
• Foreign-born: 14% · Canada, Jamaica, China
• Languages at home: 84% English-only · Spanish 8% Other Indo-European 3% Tagalog/Filipino 2%

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: ▼ -1067.69%
• Current HPI: 309.3598
• Rent YoY: ▲ 4.84%
• 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

+484.9% since first listed

16 events — show timeline

• 2026-05-11 Price Changed $889,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-23 Listed $899,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-05 Rental Removed $3,300 ONEKEY
• 2025-11-04 Listed for Rent $3,300 ONEKEY
• 2025-10-14 Listed $859,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-13 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2016-02-01 Sold (Public Records) $350,000 Public Records
• 2016-01-06 Sold (MLS) $350,000 OneKey® MLS as Distributed by MLS Grid
• 2016-01-06 Sold (MLS) $350,000 MLSLI
• 2015-09-25 Pending — MLSLI
• 2015-09-04 Delisted — MLSLI
• 2015-06-10 Price Changed $399,900 MLSLI
• 2015-06-04 Price Changed $419,000 MLSLI
• 2015-03-29 Listed $429,000 MLSLI
• 2015-03-29 Listed $399,900 OneKey® MLS as Distributed by MLS Grid
• 1996-09-24 Sold (Public Records) $152,000 Public Records

Property tax history

+7.0%/yr

Latest (2024): $11,972 · +1.4% YoY. Source: county tax records.