6 Wellington Rd

Greenvale, NY 11548

$848,000D-

3 bd · 1.0 ba · 1,313 sqft · Built 1947 · SingleFamily · Pending · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,714/mo
• Mortgage (P&I): −$4,447
• Tax + insurance: −$1,245
• HOA: −$0
• Vac / Maint / Mgmt: −$1,200
• Net cashflow: $-1,178/mo
• Annual: $-14,136/yr
• Cap rate: 4.63%
• Cash-on-cash: -5.95%
• DSCR: 0.74
• 1% rule: 0.67%
• Cash to close: $237,440

Investor read

• This is a 3-bed/1.0-bath single-family listed at $848k.
• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $640k (24.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $571k (32.6% below list).
• It's been on market 49 days — a 3% lower offer ($823k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $571k (32.6% below list) — sets the bar for 1% rule.
• In year one you build about $52k of equity ($6k loan paydown + $46k appreciation (5.4% local appreciation)).
• Location reads 77/100 on livability (#204 in NY, #3,174 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: cost of living F, health & safety F.
• Roslyn Union Free School District (suburban): math 83% / reading 82% proficiency, ranked #28 of 590 in NY (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Harbor Hill School (math 83% / reading 82%, grade A+, #133 of 2,108 statewide, top 6%, 584 students, 10% FRL); Roslyn Middle School (math 78% / reading 82%, grade A+, #28 of 729 statewide, top 4%, 766 students, 16% FRL); Roslyn High School (math 97% / reading 87%, grade A+, #171 of 1,100 statewide, top 18%, 1,035 students, 15% FRL).
• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 10 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 $210k; list at $848k implies a 304% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$83k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 52% chance of damaging wind over 30y; extreme-heat days projected 7→17/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 49 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
• Built in 1947 — 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.