3 Oldfield · North Hills, NY 11576

$968,000

2 bd · 2.5 ba · 1,612 sqft · Condo public records · 16 Days on market

Built 1979 $593/mo HOA · 9% of rent

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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).

• Appreciation +8.7/10.0
• Schools +7.8/10.0
• ARV discount +7.5/15.0
• Cash flow +6.9/30.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +1.1/10.0

Listing remarks

Fabulous opportunity to own an Expanded Buttonwood model in the highly sought after development of Acorn Ponds. This beautiful, south-facing, freshly painted bright home has 1,612 sq ft and boasts 2 bedrooms and 2.5 baths. 3 Oldfield is situated on top of a hill offering privacy and an abundance of natural light. 1st floor includes a well-designed renovated kitchen with a breakfast bar, island, stainless-steel appliances and double wall oven; a spacious sun-drenched living room/dining room combination and an updated powder room. 2nd floor includes a primary en-suite with numerous closets offering a plethora of storage with extensive built-ins and a renovated bathroom with a walk in double s

Key facts

• Double wall oven
• Renovated kitchen
• Breakfast bar

Tags

• EXPANDED BUTTONWOOD MODEL
• RENOVATED KITCHEN
• BREAKFAST BAR
• STAINLESS STEEL APPLIANCES
• DOUBLE WALL OVEN
• SUN DRENCHED LIVING ROOM

Property features AI

Finance

• HOA & community: Has association; Monthly association fee; Association amenities: clubhouse, fitness center, park, playground, pool, sauna, spa/hot tub, tennis courts; Association fee includes common area maintenance, exterior maintenance, grounds care, pool service, sewer, snow removal, trash

Exterior

• Parking: Attached underground garage with garage door opener; 2 garage spaces; No carport
• Utilities: PSEG electric; Public sewer; Cable connected; Electricity connected; Phone connected; Trash collection (public); Water connected
• Home design: Townhouse; Condominium; Two stories; Entry level: 1
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront; Near golf course; Near public transit; Near schools; Near shops

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Microwave; Refrigerator; Stainless steel appliances; ENERGY STAR qualified appliances
• Bedrooms: Two-story home with rooms on multiple levels
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Breakfast bar; Crown molding; Entrance foyer; Kitchen island; Primary bathroom; Recessed lighting; Stone counters; Storage; Walk-in closet(s); Pets allowed
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $968k.

Deal economics

• At list price, monthly cash flow is $-2k ($-18k/yr) — negative.
• To cash-flow at today's rent, offer at most $700k (27.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $695k (28.2% below list).
• Recommended offer: $695k (28.2% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 1.3% in North Hills — 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 70/100 on livability (#449 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: amenities F, cost of living F, health & safety D-.
• Herricks Union Free School District (suburban): math 86% / reading 84% proficiency, ranked #26 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: Searingtown School (math 88% / reading 85%, 585 students, 18% FRL); Herricks Middle School (math 76% / reading 84%, grade A+, #28 of 729 statewide, top 4%, 1,079 students, 17% FRL); Herricks High School (math 100% / reading 82%, grade A+, #226 of 1,100 statewide, top 21%, 1,433 students, 18% FRL).
• Market conditions: 81 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).

Forward outlook

• In year one you build about $79k of equity ($7k loan paydown + $72k appreciation (7.5% local appreciation)).
• Nassau County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$127k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($953k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $250k; list at $968k implies a 287% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk; major wind risk, 27% 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 $695,192 (28.2% 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. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-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?
8. 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?
9. 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.
10. 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.
11. 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: 0.72% ✗
• Cap rate: 4.48%
• Cash-on-cash: -6.47%
• DSCR: 0.71
• GRM: 11.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.48% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.7%
• Equity multiple: 2.00×
• Total profit: $270,694
• Equity at exit: $701,694

10-year hold

• IRR: 13.9%
• Equity multiple: 4.16×
• Total profit: $857,725
• Equity at exit: $1,361,868

Cash invested: $271,040 (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 11576

• Home prices YoY: 2.5%
• Active inventory: 81
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $6,952 medium
• Mortgage (P&I): −$5,076
• Tax from tax record: −$882 /mo · $10,580/yr
• Insurance: −$403
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$593
• Vacancy / Maint / Mgmt: −$1,460
• Net cashflow: $-1,518

Break-even live

Break-even rent $8,873

Max offer price $699,871

Occupancy floor —

Sensitivity live

Price	-10% $-970	-5% $-1,244	+0% $-1,518	+5% $-1,792	+10% $-2,066
Rent	-10% $-2,067	-5% $-1,792	+0% $-1,518	+5% $-1,243	+10% $-969
Rate	-1.0pp $-1,030	-0.5pp $-1,272	base $-1,518	+0.5pp $-1,769	+1.0pp $-2,024

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: $242,000
• Closing costs: $29,040
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 Wentworth Ave Albertson, NY	3.0	1.5	1176	$5,200	$4.42	45d	1	1.26mi
91 Duckpond Dr Manhasset, NY	2.0	2.0	1915	$8,530	$4.45	3d	1	1.31mi
2 Tottenham Pl Unit 1FL New Hyde Park, NY	2.0	2.0	2230	$4,700	$2.11	7d	1	1.41mi
106 Bregman Ave Unit 1st New Hyde Park, NY	2.0	1.0	1271	$2,500	$1.97	0d	1	1.46mi

HOA detail condo

• Monthly dues: $593 · $7,116/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-04-29
   status Pending
2. 2026-04-13
   listed $968,000 Active
3. 1993-02-23
   soldstatus $250,000
4. 1986-12-08
   soldstatus $290,000

ⓘ 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: $10,580 · $882/mo
• Projected year-2 tax: $13,470 · $1,122/mo
• Expected delta: +$2,890/yr (+$241/mo · 27.3%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% 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 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $83,423
• − Mortgage interest: −$54,223
• − Property taxes: −$10,580
• − Insurance: −$5,506
• − Repairs & maintenance: −$6,674
• − Management: −$6,674
• − HOA: −$7,116
• − Depreciation: −$28,160
• Taxable loss: −$35,510
• Est. tax savings @ 24.0%: +$8,522
• After-tax cash flow: $-9,691/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: Herricks Union Free School District
• NCES district ID: 3614280
• Math proficiency: 86% ▬ 0.00%
• Reading proficiency: 84% ▲ 1.00%
• Median HH income: $115,771
• Composite: 78.11/100
• National rank: #84
• State rank: #26 of 590 in NY

Livability — North Hills

• Score: 70/100
• State rank: #449
• US rank: #7872

Category grades

Amenities F Commute B- 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: North Hills, NY
• Population (ZIP): 12,796

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 (69%)
• Race & ethnicity: White 69% Asian 19% Hispanic / Latino 6% Two or more races 2% Black 1%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 11% Scotch-Irish 7% Italian 3%
• Foreign-born: 24% · Canada, China, South Korea
• Languages at home: 71% English-only · Other Indo-European 11% Korean 4% Chinese 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: ▲ 7.48%
• Current HPI: 305.952
• 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

+233.8% since first listed

4 events — show timeline

• 2026-04-29 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-13 Listed $968,000 OneKey® MLS as Distributed by MLS Grid
• 1993-02-23 Sold (Public Records) $250,000 Public Records
• 1986-12-08 Sold (Public Records) $290,000 Public Records

Property tax history

+0.8%/yr

Latest (2024): $10,580 · -7.2% YoY. Source: county tax records.