81L Glen Keith Rd Unit 81L · Glen Cove, NY 11542

$319,000

1 bd · 1.0 ba · 700 sqft · Condo · 87 Days on market

Built 1958

---

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 +17.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• 1% rule +4.8/10.0
• Schools +4.7/10.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to the highly desired pet friendly Trousdell Village community! This well-maintained one bedroom first floor unit with hardwood floors throughout features a open concept spacious living room & dining area, a functional kitchen, a king-sized primary bedroom and full bath. Other highlights include available outdoor parking spot, laundry facilities, access to resident community/game room, fitness center, playground, personal storage, bike & kayak rooms, car wash area, and onsite management. The development is conveniently located near the Sea Cliff train station on the Oyster Bay line. As a Glen Cove resident, you will also have beach & golf rights. Are you ready to c

Key facts

• Laundry facilities
• Community game room
• Outdoor parking spot

Tags

• HARDWOOD FLOORS
• OPEN CONCEPT
• OUTDOOR PARKING SPOT
• LAUNDRY FACILITIES
• COMMUNITY GAME ROOM
• FITNESS CENTER

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $319k.

Deal economics

• At list price, monthly cash flow is $259 ($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 $312k (2.3% below list).
• Recommended offer: $300k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 3.7% in Glen Cove — 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 65/100 on livability (#685 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing C-, amenities F, commute F.
• Glen Cove City School District (suburban): math 50% / reading 55% proficiency, ranked #312 of 590 in NY (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Connolly School (math 37% / reading 42%, grade F, #1,444 of 2,108 statewide, top 71%, 305 students, 67% FRL); Robert M Finley Middle School (math 43% / reading 47%, grade D, #342 of 729 statewide, top 48%, 710 students, 70% FRL); Glen Cove High School (math 85% / reading 87%, grade A, #347 of 1,100 statewide, top 32%, 1,050 students, 55% FRL) — zoned schools average 64% FRL vs 45% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.4%/yr); 144 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• This rent runs 40% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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

• It's been on market 87 days — a 6% lower offer ($300k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 60% 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 $299,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.98% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.48%
• DSCR: 1.15
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.43% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.73×
• Total profit: $-24,035
• Equity at exit: $47,564

10-year hold

• IRR: 6.4%
• Equity multiple: 1.55×
• Total profit: $49,498
• Equity at exit: $27,581

Cash invested: $89,320 (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 11542

• Rents YoY: 6.4%
• Active inventory: 144
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $3,118 high
• Mortgage (P&I): −$1,673
• Tax est. 1.5%: −$399 /mo · $4,785/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$655
• Net cashflow: $259

Break-even live

Break-even rent $2,791

Max offer price $319,000

Occupancy floor 87%

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: $79,750
• Closing costs: $9,570
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
55 Sea Cliff Ave Sea Cliff, NY	1.0	1.0	700	$3,200	$4.57	24d	1	0.61mi
63 Wolfle St Unit 2 Glen Cove, NY	1.0	1.0	600	$1,800	$3.00	4d	1	0.62mi
15 Cherry Ln Unit A Glen Head, NY	1.0	1.0	750	$4,000	$5.33	24d	1	0.65mi
1100 Avalon Sq Glen Cove, NY	2.0	1.0–2.0	952	$3,492	$3.67	1d	1	0.67mi
100 Village Sq Glen Cove, NY	2.0	1.0–2.0	924	$4,130	$4.47	1d	4	0.83mi
350 Herb Hill Rd Glen Cove, NY	2.0	1.0–2.0	918	$4,456	$4.85	1d	5	0.91mi
12 Smith St Glen Cove, NY	2.0	1.0	650	$2,300	$3.54	21d	1	1.00mi
86 McLoughlin St Unit D Glen Cove, NY	2.0	1.0	722	$2,700	$3.74	44d	1	1.12mi

HOA detail condo

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

Listing history 2 events

1. 2026-03-19
   status Pending
2. 2025-12-21
   listed $319,000 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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,417
• − Mortgage interest: −$17,869
• − Property taxes: −$4,785
• − Insurance: −$1,595
• − Repairs & maintenance: −$2,993
• − Management: −$2,993
• − Depreciation: −$9,280
• Taxable loss: −$2,099
• Est. tax savings @ 24.0%: +$504
• After-tax cash flow: $3,609/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: Glen Cove City School District
• NCES district ID: 3612180
• Math proficiency: 50% ▼ -5.00%
• Reading proficiency: 55% ▲ 6.00%
• Median HH income: $70,021
• Composite: 46.76/100
• National rank: #2391
• State rank: #312 of 590 in NY

Livability — Glen Cove

• Score: 65/100
• State rank: #685
• US rank: #12441

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glen Cove, NY
• County: Nassau County · 653,051 people
• City population: 28,965
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 28,965
• Household income: $93,242
• Rent vs Own: 48.2% rent · 51.8% own
• Severe rent burden: 1667.0

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 0.57)
• Race & ethnicity: White 56% Hispanic / Latino 32% Two or more races 14% Asian 5% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Dominican 3%
• Common ancestry: Romanian 5% Scotch-Irish 2% Italian 1%
• Foreign-born: 28% · Canada, China, Jamaica
• Languages at home: 60% English-only · Spanish 27% Other Indo-European 9% Chinese 1%

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: ▼ -377.99%
• Current HPI: 275.1903
• Rent YoY: ▲ 6.43%
• 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

• 2026-03-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-12-21 Listed $319,000 OneKey® MLS as Distributed by MLS Grid