250 W Merrick Rd Unit 2R · Freeport, NY 11520

$325,888

2 bd · 1.0 ba · 1,057 sqft · Condo public records · 73 Days on market

Built 1960

---

Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +4.2/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.2/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Country Club Manor in the heart of Freeport! This spacious and beautifully maintained 2-bedroom, 1-bath co-op offers a perfect blend of comfort, style, and convenience. Located on the 2nd floor, Unit 2R features gleaming hardwood floors, an updated kitchen with modern appliances and ample cabinet space, and a newly renovated bathroom with sleek finishes. Enjoy a bright and airy layout with generously sized bedrooms and abundant closet space. The building offers fantastic amenities, including a swimming pool, BBQ/patio area, laundry available in the building, bike storage, and first-come, first-served parking space. Heat, hot water, and property maintenance are included in the mon

Key facts

• Bbq patio area
• Swimming pool
• Updated kitchen

Tags

• UPDATED KITCHEN
• NEWLY RENOVATED BATHROOM
• SWIMMING POOL
• BBQ PATIO AREA
• LAUNDRY AVAILABLE
• BIKE STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $326k.

Deal economics

• At list price, monthly cash flow is $-1k ($-18k/yr) — negative.
• To cash-flow at today's rent, offer at most $316k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $277k (15.1% below list).
• Recommended offer: $277k (15.1% below list) — sets the bar for 1% rule.
• Cap rate 0.9% vs local median 3.0% in Freeport — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 83/100 on livability (#69 in NY, #1,033 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• Freeport Union Free School District (suburban): math 49% / reading 55% proficiency, ranked #325 of 590 in NY (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bayview Avenue School (math 67% / reading 52%, grade B-, #745 of 2,108 statewide, top 39%, 516 students, 69% FRL); John W Dodd Middle School (math 16% / reading 41%, grade F, #569 of 729 statewide, top 78%, 986 students, 67% FRL); Freeport High School (math 82% / reading 85%, grade A, #409 of 1,100 statewide, top 39%, 2,264 students, 62% FRL).
• Market conditions: 199 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $10k 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 73 days — a 6% lower offer ($306k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask is 9% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 51% of rent.
• Climate carrying-cost: major wind risk, 69% 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 $276,637 (15.1% 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. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-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?
9. 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?
10. 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.
11. 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.
12. 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: 0.85% ✗
• Cap rate: 0.88%
• Cash-on-cash: -19.31%
• DSCR: 0.14
• GRM: 9.8

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: -55.1%
• Equity multiple: -0.59×
• Total profit: $-145,447
• Equity at exit: $48,591

10-year hold

• IRR: —
• Equity multiple: -1.67×
• Total profit: $-243,434
• Equity at exit: $28,177

Cash invested: $91,249 (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 11520

• Active inventory: 199
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,766 high
• Mortgage (P&I): −$1,709
• Tax est. 1.5%: −$407 /mo · $4,888/yr
• Insurance: −$136
• HOA est. from 1 same-building comp: −$1,402
• Vacancy / Maint / Mgmt: −$581
• Net cashflow: $-1,469

Break-even live

Break-even rent $4,625

Max offer price $113,364

Occupancy floor —

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: $81,472
• Closing costs: $9,777
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
178 Pine St Freeport, NY	1.0	1.0	745	$2,588	$3.47	2d	3	0.15mi
87-89 S Main St Unit 204 Freeport, NY	1.0	1.0	900	$2,900	$3.22	44d	1	0.58mi
66 E Seaman Ave Freeport, NY	3.0	2.5	1200	$3,600	$3.00	44d	1	0.93mi
2092 Grand Ave Unit 2 Baldwin, NY	2.0	1.0	1000	$2,800	$2.80	44d	1	1.01mi
840 Seaman Ave Unit 2w Baldwin, NY	2.0	1.0	850	$2,500	$2.94	13d	1	1.11mi
196 E Seaman Ave Freeport, NY	3.0	2.5	1062	$8,500	$8.00	17d	1	1.15mi
1690 Grand Ave Unit B2 North Baldwin, NY	1.0	1.0	750	$2,800	$3.73	44d	1	1.49mi

HOA detail condo

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

Listing history 8 events

1. 2026-04-07
   status Pending
2. 2026-02-26
   status Active
3. 2025-12-24
   status Pending
4. 2025-12-02
   status Active
5. 2025-10-30
   status Active
6. 2025-10-30
   price $325,888
7. 2025-08-13
   status Pending
8. 2025-07-31
   listed $299,888 Active

ⓘ 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 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 6/10 Major 69% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,196
• − Mortgage interest: −$18,255
• − Property taxes: −$4,888
• − Insurance: −$1,629
• − Repairs & maintenance: −$2,656
• − Management: −$2,656
• − HOA: −$16,824
• − Depreciation: −$9,480
• Taxable loss: −$23,192
• Est. tax savings @ 24.0%: +$5,566
• After-tax cash flow: $-12,058/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: Freeport Union Free School District
• NCES district ID: 3611550
• Math proficiency: 49% ▼ -4.00%
• Reading proficiency: 55% ▲ 2.00%
• Median HH income: $67,772
• Composite: 46.12/100
• National rank: #2507
• State rank: #325 of 590 in NY

Livability — Freeport

• Score: 83/100
• State rank: #69
• US rank: #1033

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Freeport, NY
• City population: 44,873
• Population (ZIP): 44,873

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 43% Black 33% White 19% Two or more races 17% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Dominican 15%
• Common ancestry: Hispanic 5% Scotch-Irish 1% Romanian 1%
• Foreign-born: 34% · Canada, Jamaica, Guatemala
• Languages at home: 55% English-only · Spanish 38% French/Haitian/Cajun 3% Other Indo-European 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: ▼ -721.06%
• Current HPI: 317.6076
• 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

+8.7% since first listed

8 events — show timeline

• 2026-04-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-26 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-12-24 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-12-02 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-10-30 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-10-30 Price Changed $325,888 OneKey® MLS as Distributed by MLS Grid
• 2025-08-13 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-07-31 Listed $299,888 OneKey® MLS as Distributed by MLS Grid