29 Loretta St · Inwood, NY 11096

$899,000

6 bd · 2.0 ba · 2,439 sqft · MultiFamily public records · 2 Days on market

Built 1908 5,000 sqft lot

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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).

• Cash flow +17.1/30.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• Schools +4.2/10.0
• 1% rule +4.1/10.0
• Livability +3.6/5.0
• 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

Opportunity knocks in the heart of Inwood! This spacious two-family property offers tremendous potential for investors, contractors, or end-users looking to create value through renovation. Features include a full basement, a long private driveway with parking for up to three vehicles, a detached garage, and a generous backyard/patio area perfect for outdoor enjoyment. Conveniently located near shopping, schools, parks, public transportation, and major roadways. Property is being sold strictly AS IS. A fantastic opportunity to restore, renovate, or reimagine this property in a desirable Nassau County location.

Key facts

• Private driveway
• Full basement
• Conveniently located

Tags

• FULL BASEMENT
• PRIVATE DRIVEWAY
• DETACHED GARAGE
• GENEROUS BACKYARD
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public sewer
• Home design: Duplex
• Construction: Block construction
• Exterior features: Block construction; Not waterfront

Interior

• Bedrooms: One 2-bedroom unit; One 3-bedroom unit
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Oil heating
• Interior features: First-floor bedroom; Patio

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $899k.

Deal economics

• At list price, monthly cash flow is $630 ($8k/yr) — positive. Per door: $315/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $820k (8.8% below list).
• Recommended offer: $820k (8.8% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 3.7% in Inwood — 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 71/100 on livability (#399 in NY) — a middle-class / working-renter tenant base. Strengths: commute A+, amenities A-, health & safety A-; Watch: cost of living F.
• Lawrence Union Free School District (suburban): math 43% / reading 46% proficiency, ranked #399 of 590 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lawrence Early Childhood Center At #4 School (145 students, 94% FRL); Lawrence Middle School At Broadway Campus (math 12% / reading 37%, grade F, #611 of 729 statewide, top 88%, 405 students, 79% FRL); Lawrence Senior High School (math 87% / reading 30%, grade C, #877 of 1,100 statewide, top 80%, 770 students, 70% FRL) — zoned schools average 81% FRL vs 52% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 28 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).

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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $122k; list at $899k implies a 637% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $820,300 (8.8% below list)

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 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 0.91% ✗
• Cap rate: 7.13%
• Cash-on-cash: 3.00%
• DSCR: 1.13
• GRM: 9.1

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: -11.6%
• Equity multiple: 0.58×
• Total profit: $-105,661
• Equity at exit: $134,044

10-year hold

• IRR: -2.4%
• Equity multiple: 0.84×
• Total profit: $-40,755
• Equity at exit: $77,729

Cash invested: $251,720 (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 11096

• Home prices YoY: -13.8%
• Active inventory: 28
• Price-to-rent: 18.3×

Monthly cashflow live

• Estimated rent: $8,203 medium
• Mortgage (P&I): −$4,714
• Tax from tax record: −$761 /mo · $9,138/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,723
• Net cashflow: $630

Break-even live

Break-even rent $7,406

Max offer price $899,000

Occupancy floor 87%

Sensitivity live

Price	-10% $1,139	-5% $884	+0% $630	+5% $375	+10% $121
Rent	-10% $-18	-5% $306	+0% $630	+5% $954	+10% $1,278
Rate	-1.0pp $1,083	-0.5pp $858	base $630	+0.5pp $397	+1.0pp $160

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$8,204
Total (2 units)			$8,203

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
94 Roger Ave Inwood, NY	5.0	3.0	2328	$4,800	$2.06	45d	1	0.92mi

Listing history 2 events

1. 2026-06-21
   remarks 617-char remark
2. 2026-06-21
   listed $899,000 Active 2 DOM

ⓘ 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: $9,138 · $761/mo
• Projected year-2 tax: $12,166 · $1,014/mo
• Expected delta: +$3,028/yr (+$252/mo · 33.1%)

ⓘ 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 ≥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: $98,436
• − Mortgage interest: −$50,358
• − Property taxes: −$9,138
• − Insurance: −$4,495
• − Repairs & maintenance: −$7,875
• − Management: −$7,875
• − Depreciation: −$26,153
• Taxable loss: −$7,457
• Est. tax savings @ 24.0%: +$1,790
• After-tax cash flow: $9,348/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: Lawrence Union Free School District
• NCES district ID: 3616830
• Math proficiency: 43% ▼ -2.00%
• Reading proficiency: 46% ▼ -8.00%
• Median HH income: $91,008
• Composite: 42.14/100
• National rank: #3307
• State rank: #399 of 590 in NY

Livability — Inwood

• Score: 71/100
• State rank: #399
• US rank: #6565

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Inwood, NY
• City population: 9,897
• Population (ZIP): 9,897

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 0.67)
• Race & ethnicity: Hispanic / Latino 47% White 30% Black 14% Asian 8% Two or more races 8%
• Hispanic origin (detail): Mexican 3% Dominican 2%
• Common ancestry: Italian 2% Romanian 1% Hispanic 1%
• Foreign-born: 43% · Canada, South Korea
• Languages at home: 38% English-only · Spanish 42% Other Indo-European 8% French/Haitian/Cajun 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: ▼ -66.48%
• Current HPI: 415.4969
• Rent YoY: —
• Metro: —
• 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

+636.9% since first listed

2 events — show timeline

• 2026-06-15 Listed $899,000 OneKey® MLS as Distributed by MLS Grid
• 1993-09-01 Sold (Public Records) $122,000 Public Records

Property tax history

+2.4%/yr

Latest (2024): $9,138 · +0.4% YoY. Source: county tax records.