57 Island Pkwy · Island Park, NY 11558

$750,000

6 bd · 2.0 ba · 1,432 sqft · MultiFamily public records · 10 Days on market

Built 1948 4,000 sqft lot

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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 +23.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +5.6/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Great Income Home - Each Apartment Pays Owns Electric.

Key facts

• Front porch
• Two family property
• Rental income

Tags

• TWO FAMILY PROPERTY
• RENTAL INCOME
• MULTIGENERATIONAL LIVING
• FRONT PORCH
• OPEN CONCEPT LAYOUT
• WOOD BURNING FIREPLACE

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public sewer; Electricity available and connected; Water available and connected; Sewer available and connected; Public trash collection
• Home design: Duplex
• Construction: Frame construction
• Exterior features: Back yard fencing; Shed(s)

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Flooring: Combination of carpet, ceramic tile, and wood
• Bathrooms: Two full bathrooms
• Heating & cooling: Electric forced-air heating; Central air; Ductless cooling
• Interior features: First-floor bedroom; First-floor full bathroom; Eat-in kitchen; Storage; Finished full basement with storage space and walk-out access; Attic crawl space with storage; Patio and porch
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $750k.

Deal economics

• At list price, monthly cash flow is $882 ($11k/yr) — positive. Per door: $441/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $750k).

Location & tenants

• Location reads 78/100 on livability (#160 in NY, #2,453 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Island Park Union Free School District (suburban): math 43% / reading 62% proficiency, ranked #300 of 590 in NY (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Francis X Hegarty Elementary School (math 42% / reading 72%, grade C+, #842 of 2,108 statewide, top 43%, 415 students, 34% FRL); Island Park Lincoln Orens Middle School (math 42% / reading 57%, grade C, #280 of 729 statewide, top 40%, 271 students, 44% FRL).
• Market conditions: 43 active listings in the ZIP; high-income renter base; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• At $7,925/mo this rent would consume 86% of the median local household income ($111k/yr) (locally 371% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $600k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% 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 $750,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.06% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.67%
• DSCR: 1.34
• GRM: 7.9

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: -8.4%
• Equity multiple: 0.69×
• Total profit: $-65,119
• Equity at exit: $111,827

10-year hold

• IRR: 1.1%
• Equity multiple: 1.08×
• Total profit: $16,603
• Equity at exit: $64,846

Cash invested: $210,000 (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 11558

• Home prices YoY: -24.6%
• Active inventory: 43
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $7,925 medium
• Mortgage (P&I): −$3,933
• Tax from tax record: −$673 /mo · $8,073/yr
• Insurance: −$312
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,664
• Net cashflow: $882

Break-even live

Break-even rent $6,809

Max offer price $750,000

Occupancy floor 84%

Sensitivity live

Price	-10% $1,307	-5% $1,094	+0% $882	+5% $670	+10% $457
Rent	-10% $256	-5% $569	+0% $882	+5% $1,195	+10% $1,508
Rate	-1.0pp $1,260	-0.5pp $1,073	base $882	+0.5pp $688	+1.0pp $490

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$7,926
Total (2 units)			$7,925

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: $187,500
• Closing costs: $22,500
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $750,000 Active 10 DOM
2. 2026-06-18
   days on market $750,000 Active 7 DOM
3. 2026-06-17
   days on market $750,000 Active 6 DOM
4. 2026-06-16
   days on market $750,000 Active 5 DOM
5. 2026-06-15
   days on market $750,000 Active 4 DOM
6. 2026-06-13
   remarks 693-char remark
7. 2026-06-13
   listed $750,000 Active 2 DOM

ⓘ 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: $8,073 · $673/mo
• Projected year-2 tax: $10,374 · $865/mo
• Expected delta: +$2,301/yr (+$192/mo · 28.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% 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 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $95,100
• − Mortgage interest: −$42,012
• − Property taxes: −$8,073
• − Insurance: −$9,275
• − Repairs & maintenance: −$7,608
• − Management: −$7,608
• − Depreciation: −$21,818
• Taxable loss: −$1,294
• Est. tax savings @ 24.0%: +$311
• After-tax cash flow: $10,894/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: Island Park Union Free School District
• NCES district ID: 3615480
• Math proficiency: 43% ▼ -15.00%
• Reading proficiency: 62% ▲ 12.00%
• Median HH income: $78,138
• Composite: 47.47/100
• National rank: #2279
• State rank: #300 of 590 in NY

Livability — Island Park

• Score: 78/100
• State rank: #160
• US rank: #2453

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Island Park, NY
• County: Nassau County · 653,051 people
• City population: 8,454
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 8,454
• Household income: $111,032
• Rent vs Own: 32.6% rent · 67.4% own
• Severe rent burden: 371.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 15% Two or more races 8% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Romanian 4% American 4% Scotch-Irish 2%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 75% English-only · Spanish 12% Russian/Polish/Slavic 6% Other Indo-European 4%

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: ▼ -106.33%
• Current HPI: 326.289
• 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

+150.8% since first listed

14 events — show timeline

• 2026-06-11 Listed $750,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-13 Rental Removed $3,700 ONEKEY
• 2025-07-12 Listed for Rent $3,700 ONEKEY
• 2024-04-27 Rental Removed $3,650 ONEKEY
• 2024-04-18 Listed for Rent $3,650 ONEKEY
• 2022-09-28 Sold (Public Records) $600,000 Public Records
• 2015-04-24 Sold (Public Records) $290,000 Public Records
• 2015-04-07 Sold (MLS) $290,000 OneKey® MLS as Distributed by MLS Grid
• 2015-04-07 Sold (MLS) $290,000 MLSLI
• 2015-03-14 Pending — MLSLI
• 2015-01-30 Relisted — MLSLI
• 2014-12-05 Pending — MLSLI
• 2014-09-11 Listed $299,000 MLSLI
• 2014-09-11 Listed $299,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+2.7%/yr

Latest (2024): $8,073 · +5.1% YoY. Source: county tax records.