140 Baltimore Ave · Massapequa, NY 11758

$1,375,000

9 bd · 4.0 ba · 3,560 sqft · MultiFamily public records · 33 Days on market

Built 1958 8,000 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 +11.3/30.0
• ARV discount +7.5/15.0
• Schools +7.4/10.0
• Livability +4.1/5.0
• DSCR +3.3/10.0
• 1% rule +3.2/10.0
• 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: 3 units. confirmed

Listing remarks

Set on a generous 80x100 lot, this exceptional property offers a rare combination of modern upgrades, flexible living space, and long-term efficiency. Designed with comfort and versatility in mind, the home features a thoughtfully laid-out floor plan ideal for multi-generational living. Two spacious ensuite bedrooms provide privacy and convenience, while a separate apartment offers additional living options or potential income. The outdoor space is a true highlight, showcasing a stunning new gunite pool—perfect for entertaining or relaxing in your own private retreat. Significant recent upgrades include a new roof (2025) paired with 41 owned solar panels, delivering both peace of mind

Key facts

• 8,000 sq ft lot
• 2 garage spots
• Pool

Property features AI

Exterior

• Parking: Garage; 2 garage spaces
• Utilities: Public sewer; Electricity connected; Natural gas connected; Solar energy generation
• Home design: Duplex
• Construction: Frame construction
• Exterior features: Vinyl fencing; In-ground private pool

Interior

• Bedrooms: One 2-bedroom unit; One 4-bedroom unit
• Bathrooms: Five full bathrooms
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Crown molding; Finished basement; Has fireplace; Patio

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $1.38M.

Deal economics

• At list price, monthly cash flow is $-498 ($-6k/yr) — negative. Per door: $-166/mo.
• To cash-flow at today's rent, offer at most $1.29M (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.12M (18.3% below list).
• Recommended offer: $1.12M (18.3% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 2.5% in Massapequa — 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 82/100 on livability (#82 in NY, #1,242 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities D, cost of living F.
• Massapequa Union Free School District (suburban): math 76% / reading 83% proficiency, ranked #39 of 590 in NY (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 4% free/reduced lunch — higher-income household profile.
• Zoned schools: Lockhart Elementary School (math 72% / reading 82%, grade A, #244 of 2,108 statewide, top 13%, 366 students, 8% FRL); Berner Middle School (math 63% / reading 71%, grade A-, #101 of 729 statewide, top 15%, 1,596 students, 10% FRL); Massapequa High School (math 97% / reading 100%, grade A+, #10 of 1,100 statewide, top 1%, 1,453 students, 10% FRL).
• Market conditions: 269 active listings in the ZIP; 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 $10k of loan paydown is wiped out by about $41k 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 33 days — a 3% lower offer ($1.33M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 18233% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $448k; list at $1.38M implies a 207% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 62% 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 $1,123,900 (18.3% 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 33 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.82% ✗
• Cap rate: 5.86%
• Cash-on-cash: -1.55%
• DSCR: 0.93
• GRM: 10.2

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: -18.9%
• Equity multiple: 0.34×
• Total profit: $-254,431
• Equity at exit: $205,017

10-year hold

• IRR: -11.3%
• Equity multiple: 0.32×
• Total profit: $-262,016
• Equity at exit: $118,885

Cash invested: $385,000 (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 11758

• Active inventory: 269
• Price-to-rent: 30.6×

Monthly cashflow live

• Estimated rent: $11,239 medium
• Mortgage (P&I): −$7,211
• Tax from tax record: −$1,593 /mo · $19,118/yr
• Insurance: −$573
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,360
• Net cashflow: $-498

Break-even live

Break-even rent $11,869

Max offer price $1,287,036

Occupancy floor 99%

Sensitivity live

Price	-10% $280	-5% $-109	+0% $-498	+5% $-887	+10% $-1,276
Rent	-10% $-1,386	-5% $-942	+0% $-498	+5% $-54	+10% $390
Rate	-1.0pp $195	-0.5pp $-148	base $-498	+0.5pp $-854	+1.0pp $-1,217

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$11,238
Total (3 units)			$11,239

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: $343,750
• Closing costs: $41,250
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $1,375,000 Active 33 DOM
2. 2026-06-21
   days on market $1,375,000 Active 32 DOM
3. 2026-06-18
   days on market $1,375,000 Active 30 DOM
4. 2026-06-17
   days on market $1,375,000 Active 29 DOM
5. 2026-06-16
   days on market $1,375,000 Active 28 DOM
6. 2026-06-15
   days on market $1,375,000 Active 27 DOM
7. 2026-06-13
   days on market $1,375,000 Active 25 DOM
8. 2026-06-12
   days on market $1,375,000 Active 24 DOM
9. 2026-06-09
   days on market $1,375,000 Active 21 DOM
10. 2026-06-08
    days on market $1,375,000 Active 20 DOM
11. 2026-06-07
    days on market $1,375,000 Active 19 DOM
12. 2026-06-04
    days on market $1,375,000 Active 15 DOM
13. 2026-06-02
    days on market $1,375,000 Active 14 DOM
14. 2026-06-01
    days on market $1,375,000 Active 13 DOM
15. 2026-05-31
    days on market $1,375,000 Active 12 DOM
16. 2026-05-06
    historical $1,375,000 1319-char remark
17. 2011-08-02
    soldstatus $447,500

ⓘ 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: $19,118 · $1,593/mo
• Projected year-2 tax: $21,178 · $1,765/mo
• Expected delta: +$2,060/yr (+$172/mo · 10.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $134,868
• − Mortgage interest: −$77,021
• − Property taxes: −$19,118
• − Insurance: −$6,875
• − Repairs & maintenance: −$10,789
• − Management: −$10,789
• − Depreciation: −$40,000
• Taxable loss: −$29,726
• Est. tax savings @ 24.0%: +$7,134
• After-tax cash flow: $1,159/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: Massapequa Union Free School District
• NCES district ID: 3618630
• Math proficiency: 76% ▼ -3.00%
• Reading proficiency: 83% ▲ 12.00%
• Median HH income: $116,173
• Composite: 73.55/100
• National rank: #178
• State rank: #39 of 590 in NY

Livability — Massapequa

• Score: 82/100
• State rank: #82
• US rank: #1242

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Massapequa, NY
• City population: 54,741
• Population (ZIP): 54,741

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: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 11% Two or more races 7% Black 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 2% Italian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -765.19%
• Current HPI: 287.8085
• 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

-98.3% since first listed

4 events — show timeline

• 2026-06-05 Listed for Rent $7,500 ONEKEY
• 2026-05-20 Listed $1,375,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-06 Coming Soon $1,375,000 OneKey® MLS as Distributed by MLS Grid
• 2011-08-02 Sold (Public Records) $447,500 Public Records

Property tax history

+2.7%/yr

Latest (2024): $19,118 · +7.7% YoY. Source: county tax records.