13 Chanticlare Dr

Flower Hill, NY 11030

$3,488,000D+

5 bd · 5.5 ba · 7,236 sqft · Built 1980 · SingleFamily · Active · 283 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $25,000/mo
• Mortgage (P&I): −$18,291
• Tax + insurance: −$5,813
• HOA: −$0
• Vac / Maint / Mgmt: −$5,250
• Net cashflow: $-4,355/mo
• Annual: $-52,257/yr
• Cap rate: 4.79%
• Cash-on-cash: -5.35%
• DSCR: 0.76
• 1% rule: 0.72%
• Cash to close: $976,640

Investor read

• This is a 5-bed/5.5-bath single-family listed at $3.49M.
• At list price, monthly cash flow is $-4k ($-52k/yr) — negative.
• To cash-flow at today's rent, offer at most $2.86M (18.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.50M (28.3% below list).
• It's been on market 283 days — a 12% lower offer ($3.07M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $2.50M (28.3% below list) — sets the bar for 1% rule.
• In year one you build about $212k of equity ($24k loan paydown + $188k appreciation (5.4% local appreciation)).
• Location reads 76/100 on livability (#212 in NY, #3,270 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: amenities D, cost of living F.
• Port Washington Union Free School District (suburban): math 75% / reading 72% proficiency, ranked #69 of 590 in NY (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: 118 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).
• Nassau County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$339k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% 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.

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 283 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.