105 15th St Unit A1 · Garden City, NY 11530

$340,000

1 bd · 1.0 ba · 650 sqft · Condo · 6 Days on market

Built 1950

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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 +16.6/30.0
• Schools +8.2/10.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• 1% rule +4.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully maintained first floor one bedroom, one bath coop in Cherry Valley. Featuring freshly painted interiors and refinished hardwood floors, this quiet end unit is located in a peaceful, park-like courtyard setting. This bright, sun-filled unit features hardwood flooring throughout, central air and a spacious eat-in kitchen. Fantastic location convenient to LIRR (Mineola station . 5 mile), NYU Langone Hospital, Adelphi University, courthouses, shopping, parks, restaurants and all the amenities of beautiful Garden City. Parking: $35/month lot or $65/month for garage parking (waitlist). Maintenance is $990.56/month including taxes. Board approval required with 20% down.

Key facts

• Convenient to lirr
• First floor
• Eat-in kitchen

Tags

• FIRST FLOOR
• HARDWOOD FLOORS
• EAT-IN KITCHEN
• PARK-LIKE COURTYARD
• CONVENIENT TO LIRR
• NEAR NYU LANGONE HOSPITAL

🏢 Co-op / cooperative unit. The $340,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $340k.

Deal economics

• At list price, monthly cash flow is $206 ($2k/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 $323k (4.9% below list).
• Recommended offer: $323k (4.9% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 2.2% in Garden City — 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 84/100 on livability (#45 in NY, #695 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, crime A; Watch: cost of living F.
• Garden City Union Free School District (suburban): math 89% / reading 84% proficiency, ranked #16 of 590 in NY (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 1% free/reduced lunch — higher-income household profile.
• Zoned schools: Stewart School (math 85% / reading 82%, grade A+, #128 of 2,108 statewide, top 6%, 707 students, 3% FRL); Garden City Middle School (math 88% / reading 87%, grade A+, #8 of 729 statewide, top 1%, 928 students, 4% FRL); Garden City High School (math 100% / reading 82%, grade A+, #226 of 1,100 statewide, top 21%, 1,090 students, 6% FRL) — zoned schools at 4% FRL track the district average.
• Market conditions: 134 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• This rent is only 17% of the median local income ($228k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $323,462 (4.9% below list)

Questions for the listing agent

1. Built in 1950 — 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 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?
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: 0.95% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.59%
• DSCR: 1.12
• GRM: 8.8

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: -12.2%
• Equity multiple: 0.56×
• Total profit: $-41,946
• Equity at exit: $50,695

10-year hold

• IRR: -3.0%
• Equity multiple: 0.80×
• Total profit: $-19,458
• Equity at exit: $29,397

Cash invested: $95,200 (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 11530

• Active inventory: 134
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $3,235 high
• Mortgage (P&I): −$1,783
• Tax est. 1.5%: −$425 /mo · $5,100/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$679
• Net cashflow: $206

Break-even live

Break-even rent $2,974

Max offer price $340,000

Occupancy floor 89%

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
127 Mineola Blvd #1 Mineola, NY	1.0	1.0	443	$2,200	$4.97	24d	1	0.41mi
140 Old Country Rd Mineola, NY	1.0–2.0	1.0–2.0	912	$3,574	$3.92	1d	13	0.41mi
162 2nd St Unit 4 Mineola, NY	2.0	1.0	750	$3,600	$4.80	12d	1	0.46mi
1 3rd St Unit 1033 Mineola, NY	1.0	1.0	700	$3,900	$5.57	43d	1	0.59mi
1 3rd St Unit 921 Mineola, NY	1.0	1.0	700	$3,750	$5.36	43d	1	0.59mi
119 Searing Ave Mineola, NY	2.0	1.0–2.0	946	$4,028	$4.26	1d	13	0.63mi
203 Willis Ave Apt 3E Mineola, NY	1.0	1.0	650	$2,200	$3.38	43d	1	0.67mi
101 Clinton Ave Unit 1G Mineola, NY	1.0	1.0	750	$2,500	$3.33	43d	1	0.69mi
133 Lincoln Ave Unit C Mineola, NY	2.0	1.0	450	$3,000	$6.67	43d	1	0.71mi
269 Willis Ave Unit N Mineola, NY	1.0	1.0	750	$2,500	$3.33	13d	1	0.82mi
365 Stewart Ave Garden City, NY	1.0–2.0	1.0–2.0	1034	$3,220	$3.11	1d	1	0.85mi
2 Laurel Dr Mineola, NY	2.0	1.0–2.0	641	$2,848	$4.44	1d	15	1.14mi
8 Lafayette St Williston Park, NY	1.0	1.0	500	$2,200	$4.40	19d	1	1.41mi

HOA detail condo

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

Listing history 2 events

1. 2026-01-31
   status Pending
2. 2026-01-06
   listed $340,000 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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $38,815
• − Mortgage interest: −$19,045
• − Property taxes: −$5,100
• − Insurance: −$1,700
• − Repairs & maintenance: −$3,105
• − Management: −$3,105
• − Depreciation: −$9,891
• Taxable loss: −$3,131
• Est. tax savings @ 24.0%: +$751
• After-tax cash flow: $3,220/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: Garden City Union Free School District
• NCES district ID: 3611760
• Math proficiency: 89% ▲ 3.00%
• Reading proficiency: 84% ▲ 6.00%
• Median HH income: $147,057
• Composite: 82.35/100
• National rank: #33
• State rank: #16 of 590 in NY

Livability — Garden City

• Score: 84/100
• State rank: #45
• US rank: #695

Category grades

Amenities C+ 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: Garden City, NY
• County: Nassau County · 653,051 people
• City population: 27,939
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 27,939
• Household income: $228,143
• Rent vs Own: 10.1% rent · 89.9% own
• Severe rent burden: 329.0

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: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Asian 6% Black 1%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 4% Danish 1% Lithuanian 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 87% English-only · Other Indo-European 4% Spanish 4% Chinese 3%

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: ▼ -738.90%
• Current HPI: 274.0981
• 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

2 events — show timeline

• 2026-01-31 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-06 Listed $340,000 OneKey® MLS as Distributed by MLS Grid