19 Schenck Ave Unit 1G · Great Neck Plaza, NY 11021

$308,000

1 bd · 1.0 ba · 870 sqft · Condo · 14 Days on market

Built 1945 Good condition

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Why this score? — see what drove the C- 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 +17.0/30.0
• Schools +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• 1% rule +4.6/10.0
• Livability +4.2/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fabulous opportunity to customize this spacious 1-bedroom, 1-bath co-op in the heart of Great Neck. Situated on the elevated first floor, this well-proportioned residence offers an excellent layout, abundant closet space, and hardwood floors throughout. The apartment features and oversized living room and a generously sized bedroom that will easily accommodate a large bed and additional furnishings. Offered as-is, this home presents a canvas to create your ideal living space. The well-maintained, beautifully landscaped co-op features laundry facilities currently undergoing upgrades for added convenience. Ideally located near everything Great Neck has to offer, including the LIRR, MTA bus se

Key facts

• Built 1945
• Listed 13 days

Property features AI

Finance

• HOA & community: Association amenities include a park; Association fee includes sewer

Exterior

• Parking: On-street parking; No carport
• Security: Fire alarm; Fire escape; Smoke detector(s)
• Utilities: Electric service by PSEG; Public sewer; Public trash collection
• Home design: Stock cooperative; One-level unit; Entry on level 1
• Construction: Brick exterior; Concrete perimeter foundation
• Exterior features: Brick construction; Fire alarm, fire escape and smoke detectors; Concrete perimeter foundation; Near public transit; Near shops; Not waterfront

Interior

• Kitchen: Dishwasher; Refrigerator; Tankless water heater
• Bedrooms: 4 total rooms (includes living spaces and bedrooms)
• Flooring: Hardwood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating (natural gas); No cooling system
• Interior features: Eat-in kitchen; Common area laundry; No central cooling; Hot water heating with natural gas; Hardwood floors; 3 total stories (property structure); One level unit, entry on level 1; Pets not allowed
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $308k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $296k (3.9% below list).
• Recommended offer: $296k (3.9% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.4% in Great Neck Plaza — 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 85/100 on livability (#35 in NY, #551 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living F.
• Great Neck Union Free School District (suburban): math 86% / reading 83% proficiency, ranked #30 of 590 in NY (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: Saddle Rock School (math 87% / reading 82%, grade A+, #93 of 2,108 statewide, top 6%, 542 students, 16% FRL); Great Neck South Middle School (math 79% / reading 81%, grade A+, #28 of 729 statewide, top 4%, 861 students, 23% FRL); Great Neck South High School (math 100% / reading 92%, grade A+, #71 of 1,100 statewide, top 7%, 1,262 students, 0% FRL) — zoned schools at 13% FRL track the district average.
• Market conditions: 200 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $9k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $295,968 (3.9% below list)

Questions for the listing agent

1. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.96% ✗
• Cap rate: 7.11%
• Cash-on-cash: 2.92%
• DSCR: 1.13
• GRM: 8.7

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: -11.7%
• Equity multiple: 0.58×
• Total profit: $-36,513
• Equity at exit: $45,924

10-year hold

• IRR: -2.5%
• Equity multiple: 0.83×
• Total profit: $-14,422
• Equity at exit: $26,630

Cash invested: $86,240 (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 11021

• Active inventory: 200
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,960 high
• Mortgage (P&I): −$1,615
• Tax est. 1.5%: −$385 /mo · $4,620/yr
• Insurance: −$128
• HOA: −$0
• Vacancy / Maint / Mgmt: −$622
• Net cashflow: $210

Break-even live

Break-even rent $2,694

Max offer price $308,000

Occupancy floor 88%

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: $77,000
• Closing costs: $9,240
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17 Schenck Ave Unit 3B Great Neck Plaza, NY	1.0	1.0	700	$2,295	$3.28	13d	1	0.02mi
11 Schenck Ave Unit 2D Great Neck Plaza, NY	1.0	1.0	750	$2,200	$2.93	43d	1	0.05mi
12 Welwyn Rd Unit 2P Great Neck Plaza, NY	2.0	1.0	795	$2,735	$3.44	44d	1	0.08mi
7 Bond St Unit 3J Great Neck, NY	1.0	1.0	650	$2,800	$4.31	19d	1	0.23mi
16 Stoner Ave Unit 2G Great Neck, NY	1.0	1.0	700	$2,800	$4.00	43d	1	0.30mi
4 Maple Dr Apt 6H Great Neck, NY	1.0	1.0	900	$2,300	$2.56	43d	1	0.31mi
70 Knightsbridge Rd Unit 3F Great Neck Plaza, NY	2.0	1.0	850	$3,450	$4.06	43d	1	0.35mi
60 Knightsbridge Rd Unit 3F Great Neck Plaza, NY	2.0	1.0	850	$3,550	$4.18	4d	1	0.36mi
50 Knightsbridge Rd Unit 2B Great Neck Plaza, NY	2.0	1.0	850	$3,450	$4.06	4d	1	0.37mi
141 Great Neck Rd Unit 2G Great Neck, NY	2.0	1.5	1000	$4,250	$4.25	2d	1	0.44mi
37 Spruce St Unit 2 Great Neck, NY	2.0	1.0	900	$3,500	$3.89	43d	1	0.48mi
4 Chelsea Pl Apt 3F Great Neck, NY	2.0	2.0	900	$4,600	$5.11	24d	1	0.57mi
261 Schenck Ave Unit 2nd Floor Great Neck, NY	2.0	1.0	1000	$3,500	$3.50	24d	1	0.66mi
261 Schenck Ave Unit 1st Floor Great Neck, NY	2.0	1.0	975	$3,700	$3.79	24d	1	0.66mi
240 E Shore Rd Great Neck, NY	3.0	1.0–2.5	999	$4,770	$4.77	1d	1	0.88mi
14 Beach Rd Unit 3B Great Neck, NY	2.0	1.0	850	$3,500	$4.12	19d	1	1.36mi
14 Beach Rd Unit 3A Great Neck, NY	2.0	1.0	1000	$3,400	$3.40	10d	1	1.36mi
4212 Marathon Pkwy Little Neck, NY	1.0	1.0	550	$2,375	$4.32	24d	1	1.42mi

HOA detail condo

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

Listing history 11 events

1. 2026-06-18
   days on market $308,000 Active 14 DOM
2. 2026-06-17
   days on market $308,000 Active 13 DOM
3. 2026-06-16
   days on market $308,000 Active 12 DOM
4. 2026-06-15
   days on market $308,000 Active 11 DOM
5. 2026-06-13
   days on market $308,000 Active 9 DOM
6. 2026-06-09
   days on market $308,000 Active 5 DOM
7. 2026-06-08
   days on market $308,000 Active 4 DOM
8. 2026-06-07
   statusdays on market $308,000 Active 3 DOM
9. 2026-06-04
   days on market $308,000 Coming Soon 2 DOM
10. 2026-06-02
    remarks 699-char remark
11. 2026-06-02
    listed $308,000 Coming Soon 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,516
• − Mortgage interest: −$17,253
• − Property taxes: −$4,620
• − Insurance: −$1,540
• − Repairs & maintenance: −$2,841
• − Management: −$2,841
• − Depreciation: −$8,960
• Taxable loss: −$2,539
• Est. tax savings @ 24.0%: +$609
• After-tax cash flow: $3,125/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 · 5 photos

Good 75/100 Cosmetic rehab

This spacious 1-bedroom co-op in Great Neck Plaza is in good condition with minimal repairs needed. Upgrades to the exterior and interior can significantly enhance its value.

Value-add opportunities

• Both Paint exterior walls — Enhances curb appeal and resale value
• Both Replace worn-out flooring — Improves aesthetics and functionality
• Both Upgrade HVAC system — Enhances comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior walls — Enhances curb appeal and resale value ↑
• Both Replace worn-out flooring — Improves aesthetics and functionality ↑
• Both Upgrade HVAC system — Enhances comfort and energy efficiency ↑

ⓘ 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: Great Neck Union Free School District
• NCES district ID: 3612510
• Math proficiency: 86% ▬ 0.00%
• Reading proficiency: 83% ▬ 0.00%
• Median HH income: $99,939
• Composite: 76.19/100
• National rank: #111
• State rank: #30 of 590 in NY

Livability — Great Neck Plaza

• Score: 85/100
• State rank: #35
• US rank: #551

Category grades

Amenities A+ 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: Great Neck Plaza, NY
• County: Nassau County · 653,051 people
• City population: 19,474
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 19,783
• Household income: $120,230
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 601.0

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 0.59)
• Race & ethnicity: White 56% Asian 31% Hispanic / Latino 8% Two or more races 5% Black 1%
• Common ancestry: Scotch-Irish 5% Romanian 4% Subsaharan African 1%
• Foreign-born: 36% · China, Canada, South Korea
• Languages at home: 54% English-only · Chinese 16% Other Indo-European 10% Spanish 7%

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: ▼ -736.84%
• Current HPI: 254.751
• Rent YoY: —
• 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

• 2026-06-02 Coming Soon $308,000 OneKey® MLS as Distributed by MLS Grid