16 Glen Keith Rd Unit L · Glen Cove, NY 11542

$365,000

1 bd · 1.0 ba · 760 sqft · Condo · 18 Days on market

Built 1950 Good condition

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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 +11.8/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Rent growth +4.1/5.0
• Condition / age +4.0/5.0
• DSCR +3.5/10.0
• 1% rule +3.4/10.0
• Livability +3.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully renovated 1-bedroom lower-level unit in the desirable Trousdell Village community of Glen Cove. This turnkey home offers a bright, open-concept layout with refinished hardwood floors, freshly painted walls, recessed lighting, and brand-new doors and hardware throughout. The modern kitchen features sleek cabinetry, quartz-style countertops, a stylish mosaic backsplash, stainless steel appliances, and a gas range. The spa-inspired bathroom is finished with marble-look tile, a custom niche, a contemporary vanity, and brushed-nickel fixtures. The bedroom is generously sized with large windows, ceiling fans, and serene, tree-lined views. Set within a meticulously maintained, pet-frie

Key facts

• Fitness center
• Modern kitchen
• Open-concept layout

Tags

• RENOVATED LOWER-LEVEL UNIT
• OPEN-CONCEPT LAYOUT
• MODERN KITCHEN
• SPA-INSPIRED BATHROOM
• PET-FRIENDLY GARDEN COMMUNITY
• FITNESS CENTER

Property features AI

Finance

• Other: Located in Nassau County
• HOA & community: Part of Trousdell Village association; Association provides parking; Association fee includes utilities

Exterior

• Parking: On-street parking; One parking space (total listed as 1)
• Utilities: Public sewer; Cable available; Electricity available; Phone service available
• Home design: Stock cooperative; 2 stories; Entry on first level
• Construction: Brick construction; Shingle siding
• Exterior features: Brick and shingle siding exterior; Not waterfront

Interior

• Kitchen: Gas oven
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Natural gas heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; Natural woodwork

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $365k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-97 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $351k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $307k (15.9% below list).
• Recommended offer: $307k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.7% in Glen Cove — 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 65/100 on livability (#685 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing C-, amenities F, commute F.
• Glen Cove City School District (suburban): math 50% / reading 55% proficiency, ranked #312 of 590 in NY (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Connolly School (math 37% / reading 42%, grade F, #1,444 of 2,108 statewide, top 71%, 305 students, 67% FRL); Robert M Finley Middle School (math 43% / reading 47%, grade D, #342 of 729 statewide, top 48%, 710 students, 70% FRL); Glen Cove High School (math 85% / reading 87%, grade A, #347 of 1,100 statewide, top 32%, 1,050 students, 55% FRL) — zoned schools average 64% FRL vs 45% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.4%/yr); 144 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• This rent runs 40% of the median local income ($93k/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 $3k of loan paydown is wiped out by about $11k 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 18 days — a 2% lower offer ($360k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 60% 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 $307,004 (15.9% 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 0.84% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.14%
• DSCR: 0.95
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.43% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.47×
• Total profit: $-54,325
• Equity at exit: $54,423

10-year hold

• IRR: -0.8%
• Equity multiple: 0.93×
• Total profit: $-6,819
• Equity at exit: $31,559

Cash invested: $102,200 (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 11542

• Rents YoY: 6.4%
• Active inventory: 144
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $3,070 high
• Mortgage (P&I): −$1,914
• Tax est. 1.5%: −$456 /mo · $5,475/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$645
• Net cashflow: $-97

Break-even live

Break-even rent $3,193

Max offer price $350,949

Occupancy floor 98%

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 Carney St Unit 403 Glen Cove, NY	1.0	1.0	900	$2,700	$3.00	19d	1	0.26mi
63 Wolfle St Unit 2 Glen Cove, NY	1.0	1.0	600	$1,800	$3.00	4d	1	0.58mi
15 Cherry Ln Unit A Glen Head, NY	1.0	1.0	750	$4,000	$5.33	24d	1	0.60mi
55 Sea Cliff Ave Sea Cliff, NY	1.0	1.0	700	$3,200	$4.57	24d	1	0.64mi
1100 Avalon Sq Glen Cove, NY	2.0	1.0–2.0	952	$3,492	$3.67	1d	1	0.75mi
22B Town Path Unit 2 Glen Cove, NY	2.0	1.0	900	$3,000	$3.33	22d	1	0.80mi
100 Village Sq Glen Cove, NY	2.0	1.0–2.0	924	$4,130	$4.47	1d	4	0.91mi
12 Smith St Glen Cove, NY	2.0	1.0	650	$2,300	$3.54	20d	1	0.98mi
350 Herb Hill Rd Glen Cove, NY	2.0	1.0–2.0	918	$4,456	$4.85	1d	5	1.00mi
38 East Ave Unit second floor Glen Cove, NY	2.0	1.0	900	$2,500	$2.78	24d	1	1.00mi
110 School St Unit 1 Glen Cove, NY	2.0	1.0	1000	$3,499	$3.50	43d	1	1.13mi
27 Southridge Dr Unit 2 Glen Cove, NY	2.0	1.0	800	$3,000	$3.75	43d	1	1.17mi
27 Southridge Dr Unit 1 Glen Cove, NY	2.0	1.0	800	$3,300	$4.12	19d	1	1.17mi
86 McLoughlin St Unit D Glen Cove, NY	2.0	1.0	722	$2,700	$3.74	43d	1	1.20mi
378 Sea Cliff Ave Unit 3 Sea Cliff, NY	1.0	1.0	800	$2,900	$3.62	19d	1	1.28mi
13 Prospect St Glen Head, NY	2.0	1.0	909	$3,950	$4.35	43d	1	1.39mi
1 Alvin St Unit 1 Glen Cove, NY	2.0	1.0	950	$3,350	$3.53	3d	1	1.40mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $365,000 Active 18 DOM
2. 2026-06-17
   days on market $365,000 Active 17 DOM
3. 2026-06-16
   days on market $365,000 Active 16 DOM
4. 2026-06-15
   days on market $365,000 Active 15 DOM
5. 2026-06-13
   days on market $365,000 Active 13 DOM
6. 2026-06-13
   days on market $365,000 Active 12 DOM
7. 2026-06-09
   days on market $365,000 Active 9 DOM
8. 2026-06-08
   days on market $365,000 Active 8 DOM
9. 2026-06-07
   days on market $365,000 Active 7 DOM
10. 2026-06-04
    days on market $365,000 Active 4 DOM
11. 2026-06-03
    days on market $365,000 Active 3 DOM
12. 2026-06-02
    days on market $365,000 Active 2 DOM
13. 2026-06-01
    remarks 699-char remark
14. 2026-06-01
    listed $365,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,840
• − Mortgage interest: −$20,446
• − Property taxes: −$5,475
• − Insurance: −$1,825
• − Repairs & maintenance: −$2,947
• − Management: −$2,947
• − Depreciation: −$10,618
• Taxable loss: −$7,418
• Est. tax savings @ 24.0%: +$1,780
• After-tax cash flow: $615/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This beautifully renovated 1-bedroom lower-level unit in Trousdell Village offers a bright, open-concept layout with refinished hardwood floors and modern finishes. The home is move-in ready with minimal maintenance required.

Value-add opportunities

• Both Painting exterior brick — Enhances curb appeal and value
• Both Landscaping improvements — Enhances curb appeal and value
• Both Replace ceiling fans with modern fixtures — Modernizes space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior brick — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Both Replace ceiling fans with modern fixtures — Modernizes space and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Glen Cove City School District
• NCES district ID: 3612180
• Math proficiency: 50% ▼ -5.00%
• Reading proficiency: 55% ▲ 6.00%
• Median HH income: $70,021
• Composite: 46.76/100
• National rank: #2391
• State rank: #312 of 590 in NY

Livability — Glen Cove

• Score: 65/100
• State rank: #685
• US rank: #12441

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glen Cove, NY
• County: Nassau County · 653,051 people
• City population: 28,965
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 28,965
• Household income: $93,242
• Rent vs Own: 48.2% rent · 51.8% own
• Severe rent burden: 1667.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 56% Hispanic / Latino 32% Two or more races 14% Asian 5% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Dominican 3%
• Common ancestry: Romanian 5% Scotch-Irish 2% Italian 1%
• Foreign-born: 28% · Canada, China, Jamaica
• Languages at home: 60% English-only · Spanish 27% Other Indo-European 9% Chinese 1%

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: ▼ -377.99%
• Current HPI: 275.1903
• Rent YoY: ▲ 6.43%
• 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

1 event — show timeline

• 2026-05-31 Listed $365,000 OneKey® MLS as Distributed by MLS Grid