21 Audrey Ave · Plainview, NY 11803

$999,999

6 bd · 3.0 ba · 2,694 sqft · MultiFamily public records · 23 Days on market

Built 1952 5,000 sqft lot $371/sqft · 13% above area Est $1110k · 10% under

---

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 +15.5/30.0
• ARV discount +12.0/15.0
• Schools +8.0/10.0
• DSCR +4.8/10.0
• 1% rule +4.6/10.0
• Livability +4.2/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Welcome to a truly unique and hard-to-find home in the heart of Plainview offering approximately 3,389 square feet of total usable space. This is the kind of layout buyers are constantly searching for but rarely find; expansive, adaptable, and capable of living beautifully in multiple ways. Currently configured with 6 bedrooms, with one of the rooms being used as a giant first-floor home office, it can easily be brought back to bedroom use if desired. The main level immediately impresses with its scale, offering a huge living room, oversized room, dining area, kitchen, full bath, and a massive first-floor bedroom/office measuring approximately 11'2" x 25'1". Whether you need first

Key facts

• Multiple bedrooms
• Second kitchen
• Main level deck

Tags

• FIRST FLOOR HOME OFFICE
• MULTIPLE BEDROOMS
• SECOND KITCHEN
• OUTDOOR LIVING
• MAIN LEVEL DECK
• UPSTAIRS DECK

Property features AI

Exterior

• Parking: Three total parking spaces; 3-space carport; Driveway, on-street and private parking
• Utilities: Public sewer; Cable available; Electricity connected; Trash collection (public); Water connected
• Home design: Duplex; Actual property condition
• Construction: Vinyl siding
• Exterior features: Balcony; Garden; Rain gutters; Back yard fencing

Interior

• Kitchen: Eat-in kitchen; Open kitchen
• Bedrooms: Includes a 1-bedroom unit and a 4-bedroom unit
• Flooring: Hardwood floors; Wood floors
• Bathrooms: Three full bathrooms
• Heating & cooling: Baseboard heating (oil); Central air conditioning
• Interior features: First-floor bedroom; First-floor full bath; Eat-in kitchen; Formal dining room; In-law floorplan; Open floorplan; Open kitchen; Covered, deck, porch and wrap-around porch
• Laundry & utility: Laundry in basement; Laundry in multiple locations

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $1000k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/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 $960k (4.0% below list).
• Recommended offer: $960k (4.0% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 2.7% in Plainview — 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 85/100 on livability (#36 in NY, #554 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• Plainview-Old Bethpage Central School District (suburban): math 88% / reading 86% proficiency, ranked #20 of 590 in NY (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 4% free/reduced lunch — higher-income household profile.
• Zoned schools: Stratford Road School (math 87% / reading 87%, grade A+, #69 of 2,108 statewide, top 4%, 626 students, 13% FRL); Plainview-Old Bethpage Middle School (math 77% / reading 80%, grade A+, #36 of 729 statewide, top 5%, 889 students, 13% FRL); Plainview-Old Bethpage/Jfk High School (math 100% / reading 95%, grade A+, #49 of 1,100 statewide, top 5%, 1,649 students, 13% FRL).
• Market conditions: 158 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• At $9,597/mo this rent would consume 61% of the median local household income ($188k/yr) (locally 169% 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 $7k of loan paydown is wiped out by about $30k 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 23 days — a 2% lower offer ($985k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $42k; list at $1000k implies a 2310% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $959,700 (4.0% below list)

Questions for the listing agent

1. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.96% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.70%
• DSCR: 1.08
• GRM: 8.7

CMA / ARV

• ARV (median comp): $1,110,000
• List price: $999,999
• Delta: -9.91%
• Verdict: FAIR
• Comps: 3 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
622 Old Country Rd	0.55mi	5/3.0 (-1)	2,714 (+1%)	6mo	$1,110,000	$409	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -13.6%
• Equity multiple: 0.51×
• Total profit: $-136,398
• Equity at exit: $149,103

10-year hold

• IRR: -4.6%
• Equity multiple: 0.70×
• Total profit: $-84,883
• Equity at exit: $86,462

Cash invested: $280,000 (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 11803

• Active inventory: 158
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $9,597 high
• Mortgage (P&I): −$5,244
• Tax from tax record: −$1,523 /mo · $18,277/yr
• Insurance: −$417
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,015
• Net cashflow: $398

Break-even live

Break-even rent $9,094

Max offer price $999,999

Occupancy floor 91%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$9,596
Total (2 units)			$9,597

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: $250,000
• Closing costs: $30,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12 Vernon St Plainview, NY	5.0	2.0	2614	$5,800	$2.22	1d	1	0.36mi
6 Patricia St Plainview, NY	5.0	3.0	2500	$5,900	$2.36	44d	1	0.65mi
6 E Barclay St Hicksville, NY	5.0	3.0	1904	$5,950	$3.12	44d	1	1.43mi

Listing history 7 events

1. 2026-06-04
   statusdays on market $999,999 Pending 23 DOM
2. 2026-06-03
   days on market $999,999 Active 22 DOM
3. 2026-06-02
   days on market $999,999 Active 21 DOM
4. 2026-06-01
   days on market $999,999 Active 20 DOM
5. 2026-05-31
   days on market $999,999 Active 19 DOM
6. 2026-05-10
   listed $999,999 Active 3209-char remark
7. 1976-08-01
   soldstatus $41,500

ⓘ 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: $18,277 · $1,523/mo
• Projected year-2 tax: $18,277 · $1,523/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $115,164
• − Mortgage interest: −$56,015
• − Property taxes: −$18,277
• − Insurance: −$5,000
• − Repairs & maintenance: −$9,213
• − Management: −$9,213
• − Depreciation: −$29,091
• Taxable loss: −$11,646
• Est. tax savings @ 24.0%: +$2,795
• After-tax cash flow: $7,568/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: Plainview-Old Bethpage Central School District
• NCES district ID: 3623220
• Math proficiency: 88% ▲ 1.00%
• Reading proficiency: 86% ▲ 7.00%
• Median HH income: $122,932
• Composite: 80.45/100
• National rank: #47
• State rank: #20 of 590 in NY

Livability — Plainview

• Score: 85/100
• State rank: #36
• US rank: #554

Category grades

Amenities A- 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: Plainview, NY
• County: Nassau County · 653,051 people
• City population: 29,713
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 29,713
• Household income: $187,514
• Rent vs Own: 6.4% rent · 93.6% own
• Severe rent burden: 169.0

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 (74%)
• Race & ethnicity: White 74% Asian 19% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 10% Scotch-Irish 6% Italian 2%
• Foreign-born: 16% · China, South Korea, Canada
• Languages at home: 81% English-only · Other Indo-European 7% Chinese 4% Korean 2%

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: ▼ -825.62%
• Current HPI: 298.0511
• 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

+2309.6% since first listed

3 events — show timeline

• 2026-06-04 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-05-10 Listed $999,999 OneKey® MLS as Distributed by MLS Grid
• 1976-08-01 Sold (Public Records) $41,500 Public Records

Property tax history

+2.1%/yr

Latest (2024): $18,277 · +3.1% YoY. Source: county tax records.