8 Glen Ln

Glenwood Landing, NY 11547

$999,999D

3 bd · 2.0 ba · 1,792 sqft · Built 1962 · SingleFamily · Pending · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,001/mo
• Mortgage (P&I): −$5,244
• Tax + insurance: −$1,392
• HOA: −$0
• Vac / Maint / Mgmt: −$1,050
• Net cashflow: $-2,685/mo
• Annual: $-32,225/yr
• Cap rate: 3.07%
• Cash-on-cash: -11.51%
• DSCR: 0.49
• 1% rule: 0.50%
• Cash to close: $280,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $1000k.
• At list price, monthly cash flow is $-3k ($-32k/yr) — negative.
• To cash-flow at today's rent, offer at most $526k (47.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $500k (50.0% below list).
• It's been on market 47 days — a 3% lower offer ($970k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $500k (50.0% below list) — sets the bar for 1% rule.
• In year one you build about $107k of equity ($7k loan paydown + $100k appreciation (10.0% local appreciation)).
• Location reads 70/100 on livability (#456 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, cost of living F, health & safety F.
• 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: 17 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• Current owner paid $228k; list at $1000k implies a 340% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$172k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 59% 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.

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 47 days. Have you received any prior offers? Is the seller open to a 50% concession, seller financing, or rate buy-down credit?
• Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.