1118 W Broadway · Woodmere, NY 11557

$999,999

4 bd · 2.0 ba · 2,305 sqft · MultiFamily public records · 73 Days on market

Built 1883 8,364 sqft lot $434/sqft · 22% below area Est $1274k · 22% under ↓ 23% since listing

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +9.5/30.0
• Schools +7.0/10.0
• Livability +4.1/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• 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 MLS

Opportunities like this don’t come around often—this rare Legal multi-family home offers incredible flexibility, space, and character all under one roof. The main level lives like a full home of its own, featuring 2 bedrooms plus 2 private offices, a spacious living room, formal dining room, an additional den, and a full bathroom—perfect for extended living or work-from-home needs. This unit is equipped with its own electric meter and oil heat. The second unit offers a generously sized 1-bedroom layout with an oversized living room that can easily be reconfigured to create a second bedroom. A large full bathroom and attic access add to the functionality, along with its own electric meter and gas heat for added convenience. The home also includes a basement with additional living space, offering even more versatility. Outside, you’ll find a 1.5-car detached garage and private driveway, all set on a property filled with original charm and timeless features. Whether you’re looking for an investment property, multi-generational living, or the ability to live in one unit while generating income from the other, this is a truly unique opportunity not to be missed.

Key facts

• Private offices
• Formal dining room
• Additional den

Tags

• LEGAL MULTI-FAMILY HOME
• PRIVATE OFFICES
• SPACIOUS LIVING ROOM
• FORMAL DINING ROOM
• ADDITIONAL DEN
• FULL BATHROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $1000k.

Deal economics

• At list price, monthly cash flow is $-695 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $877k (12.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $715k (28.5% below list).
• Recommended offer: $715k (28.5% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 2.4% in Woodmere — 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 82/100 on livability (#76 in NY, #1,189 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living F.
• Hewlett-Woodmere Union Free School District (suburban): math 72% / reading 79% proficiency, ranked #59 of 590 in NY (top 10%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Franklin Early Childhood Center (422 students, 25% FRL); Woodmere Middle School (math 62% / reading 73%, grade A-, #98 of 729 statewide, top 14%, 716 students, 26% FRL); George W Hewlett High School (math 95% / reading 97%, grade A+, #68 of 1,100 statewide, top 6%, 999 students, 26% FRL).
• Market conditions: 71 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).

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 73 days — a 6% lower offer ($940k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1883 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 70% 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 $714,900 (28.5% below list)

Questions for the listing agent

1. 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?
2. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1883 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.71% ✗
• Cap rate: 5.46%
• Cash-on-cash: -2.98%
• DSCR: 0.87
• GRM: 11.7

CMA / ARV

• ARV (median comp): $1,274,165
• List price: $999,999
• Delta: -21.52%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 Hamilton Ave	0.21mi	5/3.0 (+1)	2,268 (-2%)	11mo	$890,000	$392	69

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: -21.3%
• Equity multiple: 0.26×
• Total profit: $-206,573
• Equity at exit: $149,103

10-year hold

• IRR: -14.9%
• Equity multiple: 0.15×
• Total profit: $-237,889
• 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 11557

• Active inventory: 71
• Price-to-rent: 22.5×

Monthly cashflow live

• Estimated rent: $7,149 high
• Mortgage (P&I): −$5,244
• Tax from tax record: −$682 /mo · $8,188/yr
• Insurance: −$417
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,501
• Net cashflow: $-695

Break-even live

Break-even rent $8,029

Max offer price $877,157

Occupancy floor —

Sensitivity live

Price	-10% $-129	-5% $-412	+0% $-695	+5% $-978	+10% $-1,261
Rent	-10% $-1,260	-5% $-978	+0% $-695	+5% $-413	+10% $-131
Rate	-1.0pp $-192	-0.5pp $-441	base $-695	+0.5pp $-955	+1.0pp $-1,218

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$3,710
1× unit	1	1	$3,439
Total (2 units)			$7,149

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 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
389 Hamilton Ave Hewlett, NY	5.0	2.0	1650	$4,700	$2.85	9d	1	0.30mi
389 Hamilton Ave Hewlett, NY	5.0	2.0	1644	$4,700	$2.86	13d	1	0.30mi
896 Central Ave Unit A Woodmere, NY	5.0	3.0	2672	$9,000	$3.37	8d	1	0.48mi
559 Linda Ln Woodmere, NY	5.0	4.5	2390	$7,000	$2.93	45d	1	0.65mi
1463 Hewlett Ave Hewlett, NY	4.0	2.0	2662	$6,700	$2.52	17d	1	0.75mi
375 Cochran Pl Unit 2 Valley Stream, NY	3.0	1.0	2340	$3,500	$1.50	26d	1	0.77mi
791 Longview Ave Valley Stream, NY	4.0	3.0	2982	$7,800	$2.62	19d	1	0.92mi
1030 Cedarhurst St Valley Stream, NY	4.0	2.0	1950	$5,799	$2.97	0d	1	0.97mi
776 Bunker Rd Valley Stream, NY	4.0	2.5	1944	$5,700	$2.93	0d	1	1.08mi
120 Maple Ave Unit Upper Duplex Cedarhurst, NY	3.0	2.0	2400	$4,275	$1.78	0d	1	1.16mi
482 Harbor Dr Cedarhurst, NY	4.0	2.5	1652	$7,495	$4.54	20d	1	1.31mi
10 Alsop St Unit 2 Valley Stream, NY	3.0	1.0	2340	$3,300	$1.41	0d	1	1.34mi
220 Jackson Pl Hewlett, NY	4.0	2.5	2300	$5,850	$2.54	45d	1	1.43mi
259-54 Craft Ave Unit 2 Jamaica, NY	3.0	1.5	3250	$3,753	$1.15	26d	1	1.46mi

Listing history 17 events

1. 2026-06-21
   days on market $999,999 Active 73 DOM
2. 2026-06-18
   days on market $999,999 Active 70 DOM
3. 2026-06-17
   days on market $999,999 Active 69 DOM
4. 2026-06-16
   days on market $999,999 Active 68 DOM
5. 2026-06-15
   days on market $999,999 Active 67 DOM
6. 2026-06-13
   days on market $999,999 Active 65 DOM
7. 2026-06-13
   days on market $999,999 Active 64 DOM
8. 2026-06-09
   days on market $999,999 Active 61 DOM
9. 2026-06-08
   days on market $999,999 Active 60 DOM
10. 2026-06-07
    days on market $999,999 Active 59 DOM
11. 2026-06-04
    days on market $999,999 Active 56 DOM
12. 2026-06-03
    days on market $999,999 Active 55 DOM
13. 2026-06-02
    days on market $999,999 Active 54 DOM
14. 2026-06-01
    days on market $999,999 Active 53 DOM
15. 2026-05-31
    days on market $999,999 Active 52 DOM
16. 2026-04-20
    price $999,999 1205-char remark

    Show marketing remark (1205 chars)

    Opportunities like this don’t come around often—this rare Legal multi-family home offers incredible flexibility, space, and character all under one roof. The main level lives like a full home of its own, featuring 2 bedrooms plus 2 private offices, a spacious living room, formal dining room, an additional den, and a full bathroom—perfect for extended living or work-from-home needs. This unit is equipped with its own electric meter and oil heat. The second unit offers a generously sized 1-bedroom layout with an oversized living room that can easily be reconfigured to create a second bedroom. A large full bathroom and attic access add to the functionality, along with its own electric meter and gas heat for added convenience. The home also includes a basement with additional living space, offering even more versatility. Outside, you’ll find a 1.5-car detached garage and private driveway, all set on a property filled with original charm and timeless features. Whether you’re looking for an investment property, multi-generational living, or the ability to live in one unit while generating income from the other, this is a truly unique opportunity not to be missed.

17. 2026-04-02
    listed $1,299,000 Active 1205-char remark

    Show marketing remark (1205 chars)

    Opportunities like this don’t come around often—this rare Legal multi-family home offers incredible flexibility, space, and character all under one roof. The main level lives like a full home of its own, featuring 2 bedrooms plus 2 private offices, a spacious living room, formal dining room, an additional den, and a full bathroom—perfect for extended living or work-from-home needs. This unit is equipped with its own electric meter and oil heat. The second unit offers a generously sized 1-bedroom layout with an oversized living room that can easily be reconfigured to create a second bedroom. A large full bathroom and attic access add to the functionality, along with its own electric meter and gas heat for added convenience. The home also includes a basement with additional living space, offering even more versatility. Outside, you’ll find a 1.5-car detached garage and private driveway, all set on a property filled with original charm and timeless features. Whether you’re looking for an investment property, multi-generational living, or the ability to live in one unit while generating income from the other, this is a truly unique opportunity not to be missed.

ⓘ 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: $8,188 · $682/mo
• Projected year-2 tax: $12,544 · $1,045/mo
• Expected delta: +$4,356/yr (+$363/mo · 53.2%)

ⓘ 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 6/10 Major 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% 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: $85,788
• − Mortgage interest: −$56,015
• − Property taxes: −$8,188
• − Insurance: −$5,000
• − Repairs & maintenance: −$6,863
• − Management: −$6,863
• − Depreciation: −$29,091
• Taxable loss: −$26,232
• Est. tax savings @ 24.0%: +$6,296
• After-tax cash flow: $-2,049/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: Hewlett-Woodmere Union Free School District
• NCES district ID: 3631710
• Math proficiency: 72% ▼ -7.00%
• Reading proficiency: 79% ▼ -3.00%
• Median HH income: $112,656
• Composite: 69.89/100
• National rank: #287
• State rank: #59 of 590 in NY

Livability — Woodmere

• Score: 82/100
• State rank: #76
• US rank: #1189

Category grades

Amenities C+ 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: Woodmere, NY
• City population: 14,316
• Population (ZIP): 8,503

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 9% Hispanic / Latino 8% Black 6% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Scotch-Irish 5% Romanian 4% Danish 2%
• Foreign-born: 19% · Canada, Vietnam, China
• Languages at home: 74% English-only · Russian/Polish/Slavic 6% Spanish 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: ▼ -218.62%
• Current HPI: 273.9904
• Rent YoY: —
• Metro: —
• 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

-23.0% since first listed

2 events — show timeline

• 2026-04-20 Price Changed $999,999 OneKey® MLS as Distributed by MLS Grid
• 2026-04-02 Listed $1,299,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

-2.0%/yr

Latest (2024): $8,188 · -45.6% YoY. Source: county tax records.