4 Cross Ln

Glen Head, NY 11545

$2,650,000D

5 bd · 3.5 ba · 5,644 sqft · Built 1988 · SingleFamily · Pending · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $21,500/mo
• Mortgage (P&I): −$13,897
• Tax + insurance: −$3,804
• HOA: −$0
• Vac / Maint / Mgmt: −$4,515
• Net cashflow: $-715/mo
• Annual: $-8,586/yr
• Cap rate: 5.97%
• Cash-on-cash: -1.16%
• DSCR: 0.95
• 1% rule: 0.81%
• Cash to close: $742,000

Investor read

• This is a 5-bed/3.5-bath single-family listed at $2.65M.
• At list price, monthly cash flow is $-715 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $2.52M (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.15M (18.9% below list).
• It's been on market 36 days — a 3% lower offer ($2.57M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $2.15M (18.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $18k of loan paydown is wiped out by about $80k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#286 in NY, #4,595 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, cost of living F, health & safety D-.
• North Shore Central School District (suburban): math 88% / reading 84% proficiency, ranked #24 of 590 in NY (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical; only 5% free/reduced lunch — higher-income household profile.
• Zoned schools: Glenwood Landing Elementary School (math 87% / reading 82%, grade A+, #93 of 2,108 statewide, top 6%, 427 students, 0% FRL) — zoned schools at 0% FRL track the district average.
• Market conditions: 112 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• Nassau County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 13y 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 $940k; list at $2.65M implies a 182% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 65% 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.
• Cap rate 6.0% vs local median 2.2% in Glen Head — 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.

Questions for listing agent

• 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?
• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.