87 W Clinton Ave

Roosevelt, NY 11575

$410,000D+

3 bd · 1.0 ba · 1,688 sqft · Built 1972 · SingleFamily · Pending · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,859/mo
• Mortgage (P&I): −$2,150
• Tax + insurance: −$918
• HOA: −$0
• Vac / Maint / Mgmt: −$810
• Net cashflow: $-20/mo
• Annual: $-236/yr
• Cap rate: 6.24%
• Cash-on-cash: -0.21%
• DSCR: 0.99
• 1% rule: 0.94%
• Cash to close: $114,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $410k.
• At list price, monthly cash flow is $-20 ($-236/yr) — negative.
• To cash-flow at today's rent, offer at most $407k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $386k (5.9% below list).
• It's been on market 21 days — a 2% lower offer ($404k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $386k (5.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#307 in NY) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: crime D+, amenities F, cost of living F.
• Roosevelt Union Free School District (suburban): math 28% / reading 45% proficiency, ranked #529 of 590 in NY (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Centennial Avenue Elementary School (math 17% / reading 32%, grade F, #1,846 of 2,108 statewide, top 91%, 499 students, 50% FRL); Roosevelt Middle School (math 12% / reading 27%, grade F, #685 of 729 statewide, top 94%, 455 students, 0% FRL); Roosevelt High School (math 65% / reading 78%, grade B+, #698 of 1,100 statewide, top 63%, 1,075 students, 59% FRL) — zoned schools average 36% FRL vs 58% district-wide (22 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 52 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• Climate carrying-cost: major wind risk, 58% 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.
• Cap rate 6.2% vs local median 4.0% in Roosevelt — 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.

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?
• Built in 1972 — 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.
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.