16 Glen Ln

Glenwood Landing, NY 11547

$799,000D

2 bd · 1.0 ba · 912 sqft · Built 1928 · SingleFamily · Pending · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,593/mo
• Mortgage (P&I): −$4,190
• Tax + insurance: −$1,174
• HOA: −$0
• Vac / Maint / Mgmt: −$1,174
• Net cashflow: $-945/mo
• Annual: $-11,343/yr
• Cap rate: 4.87%
• Cash-on-cash: -5.07%
• DSCR: 0.77
• 1% rule: 0.70%
• Cash to close: $223,720

Investor read

• This is a 2-bed/1.0-bath single-family listed at $799k.
• At list price, monthly cash flow is $-945 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $632k (20.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $559k (30.0% below list).
• It's been on market 54 days — a 3% lower offer ($775k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $559k (30.0% below list) — sets the bar for 1% rule.
• In year one you build about $85k of equity ($6k loan paydown + $80k appreciation (10.0% local appreciation)).
• Location reads 70/100 on livability (#456 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, cost of living F, health & safety F.
• North Shore Central School District (suburban): math 88% / reading 84% proficiency, ranked #24 of 590 in NY (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical; only 5% free/reduced lunch — higher-income household profile.
• Zoned schools: Glenwood Landing Elementary School (math 87% / reading 82%, grade A+, #93 of 2,108 statewide, top 6%, 427 students, 0% FRL); North Shore Middle School (math 84% / reading 84%, grade A+, #122 of 2,108 statewide, top 6%, 646 students, 0% FRL); North Shore Senior High School (math 100% / reading 72%, 764 students, 0% FRL) — zoned schools at 0% FRL track the district average.
• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• Nassau County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $148k; list at $799k implies a 440% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$137k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 59% 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.
• Cap rate 4.9% vs local median 3.0% in Glenwood Landing — 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.

Questions for listing agent

• 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?
• It's been on market 54 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
• Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.