1213 E Broadway Unit B12 · Hewlett, NY 11557

$249,000

1 bd · 1.0 ba · 819 sqft · Condo · 132 Days on market

Built 1955

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Why this score? — see what drove the F 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).

• 1% rule +7.5/10.0
• Schools +7.0/10.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.7/15.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

WELCOME to the Garden Town Cooperative Community .... nestled in a beautifully landscaped/parklike area in the heart of Hewlett. A great location offering the ideal balance of suburban serenity and urban conveniences! This co-op unit offers a spacious One Bedroom, Full Kitchen, Large Living Room with a separate Dining Area and a Full Bath. The semi-private entry foyer leads you to this first floor lovely home with lots of natural light. Enter into the spacious open floor plan dining room and living room area ... great for entertaining and relaxing. Beautiful hardwood floors throughout plus elegant crown molding trim work. Updated kitchen with stainless steel appliances and granite countertops. Newly renovated bathroom with elegant marble tiling. Spacious king-size bedroom with ample double door closet space. Additional storage in the entry hall walk-in closet and dining area pantry closet. Convenient laundry facilities and private storage available on the premises. FREE parking available in adjacent municipal lot or garage parking for additional fee. $1560 monthly building maintenance includes taxes, heat and water. CLOSE TO ALL --- only 2 blocks to LIRR train station and all shopping, restaurants and houses of worship. Close to JFK Airport and beaches. Don't miss this opportunity!! A MUST SEE!!!

Key facts

• Updated kitchen
• Garage
• Built 1955

Tags

• LANDSCAPED PARKLIKE AREA
• SPACIOUS OPEN FLOOR PLAN
• UPDATED KITCHEN
• NEWLY RENOVATED BATHROOM
• AMPLE DOUBLE DOOR CLOSET SPACE
• CONVENIENT LAUNDRY FACILITIES

🏢 Co-op / cooperative unit. The $249,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $249k.

Deal economics

• At list price, monthly cash flow is $-2k ($-18k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Recommended offer: $219k (12.0% below list) — sets the bar for market timing.
• Cap rate -0.8% vs local median 2.7% in Hewlett — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 89/100 on livability (#7 in NY, #165 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities 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.
• Market conditions: 71 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $7k 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 132 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $137k; list at $249k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; HOA is 71% of rent; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $219,120 (12.0% 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 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.25% ✓
• Cap rate: -0.79%
• Cash-on-cash: -25.30%
• DSCR: -0.13
• GRM: 6.7

CMA / ARV

• ARV (median comp): $216,264
• List price: $249,000
• Delta: 15.14%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -74.1%
• Equity multiple: -0.95×
• Total profit: $-136,063
• Equity at exit: $37,127

10-year hold

• IRR: —
• Equity multiple: -2.41×
• Total profit: $-237,734
• Equity at exit: $21,529

Cash invested: $69,720 (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: 6.7×

Monthly cashflow live

• Estimated rent: $3,116 high
• Mortgage (P&I): −$1,306
• Tax est. 1.5%: −$311 /mo · $3,735/yr
• Insurance: −$104
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA est. from 1 same-building comp: −$2,211
• Vacancy / Maint / Mgmt: −$654
• Net cashflow: $-1,525

Break-even live

Break-even rent $5,047

Max offer price $28,270

Occupancy floor —

Sensitivity live

Price	-10% $-1,353	-5% $-1,439	+0% $-1,525	+5% $-1,611	+10% $-1,697
Rent	-10% $-1,772	-5% $-1,649	+0% $-1,525	+5% $-1,402	+10% $-1,279
Rate	-1.0pp $-1,400	-0.5pp $-1,462	base $-1,525	+0.5pp $-1,590	+1.0pp $-1,656

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
510 Dubois Ave Apt 3C Valley Stream, NY	2.0	1.5	1050	$3,400	$3.24	44d	1	1.03mi
141 Munro Blvd Valley Stream, NY	1.0	1.0	1000	$1,300	$1.30	18d	1	1.08mi
65 Prospect Ave Unit 2W Lynbrook, NY	1.0	1.0	800	$3,055	$3.82	44d	1	1.20mi
65 Prospect Ave Apt 15W Lynbrook, NY	2.0	2.0	1060	$3,680	$3.47	22d	1	1.20mi
623 Central Ave Unit 306 Cedarhurst, NY	1.0	1.0	1000	$2,550	$2.55	19d	1	1.30mi
601 Chestnut St Unit A-21 Cedarhurst, NY	1.0	1.0	700	$2,850	$4.07	44d	1	1.32mi

HOA detail condo

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

Listing history 22 events

1. 2026-06-15
   days on market $249,000 Active 132 DOM
2. 2026-06-13
   days on market $249,000 Active 130 DOM
3. 2026-06-13
   days on market $249,000 Active 129 DOM
4. 2026-06-09
   days on market $249,000 Active 126 DOM
5. 2026-06-08
   days on market $249,000 Active 125 DOM
6. 2026-06-07
   days on market $249,000 Active 124 DOM
7. 2026-06-04
   days on market $249,000 Active 121 DOM
8. 2026-06-03
   days on market $249,000 Active 120 DOM
9. 2026-06-02
   days on market $249,000 Active 119 DOM
10. 2026-06-01
    days on market $249,000 Active 118 DOM
11. 2026-05-31
    days on market $249,000 Active 117 DOM
12. 2026-04-08
    price $249,000 1320-char remark

    Show marketing remark (1320 chars)

    WELCOME to the Garden Town Cooperative Community .... nestled in a beautifully landscaped/parklike area in the heart of Hewlett. A great location offering the ideal balance of suburban serenity and urban conveniences! This co-op unit offers a spacious One Bedroom, Full Kitchen, Large Living Room with a separate Dining Area and a Full Bath. The semi-private entry foyer leads you to this first floor lovely home with lots of natural light. Enter into the spacious open floor plan dining room and living room area ... great for entertaining and relaxing. Beautiful hardwood floors throughout plus elegant crown molding trim work. Updated kitchen with stainless steel appliances and granite countertops. Newly renovated bathroom with elegant marble tiling. Spacious king-size bedroom with ample double door closet space. Additional storage in the entry hall walk-in closet and dining area pantry closet. Convenient laundry facilities and private storage available on the premises. FREE parking available in adjacent municipal lot or garage parking for additional fee. $1560 monthly building maintenance includes taxes, heat and water. CLOSE TO ALL --- only 2 blocks to LIRR train station and all shopping, restaurants and houses of worship. Close to JFK Airport and beaches. Don't miss this opportunity!! A MUST SEE!!!

13. 2026-03-26
    price $254,000 1320-char remark

    Show marketing remark (1320 chars)

    WELCOME to the Garden Town Cooperative Community .... nestled in a beautifully landscaped/parklike area in the heart of Hewlett. A great location offering the ideal balance of suburban serenity and urban conveniences! This co-op unit offers a spacious One Bedroom, Full Kitchen, Large Living Room with a separate Dining Area and a Full Bath. The semi-private entry foyer leads you to this first floor lovely home with lots of natural light. Enter into the spacious open floor plan dining room and living room area ... great for entertaining and relaxing. Beautiful hardwood floors throughout plus elegant crown molding trim work. Updated kitchen with stainless steel appliances and granite countertops. Newly renovated bathroom with elegant marble tiling. Spacious king-size bedroom with ample double door closet space. Additional storage in the entry hall walk-in closet and dining area pantry closet. Convenient laundry facilities and private storage available on the premises. FREE parking available in adjacent municipal lot or garage parking for additional fee. $1560 monthly building maintenance includes taxes, heat and water. CLOSE TO ALL --- only 2 blocks to LIRR train station and all shopping, restaurants and houses of worship. Close to JFK Airport and beaches. Don't miss this opportunity!! A MUST SEE!!!

14. 2026-02-03
    listed $259,000 Active 1320-char remark

    Show marketing remark (1320 chars)

    WELCOME to the Garden Town Cooperative Community .... nestled in a beautifully landscaped/parklike area in the heart of Hewlett. A great location offering the ideal balance of suburban serenity and urban conveniences! This co-op unit offers a spacious One Bedroom, Full Kitchen, Large Living Room with a separate Dining Area and a Full Bath. The semi-private entry foyer leads you to this first floor lovely home with lots of natural light. Enter into the spacious open floor plan dining room and living room area ... great for entertaining and relaxing. Beautiful hardwood floors throughout plus elegant crown molding trim work. Updated kitchen with stainless steel appliances and granite countertops. Newly renovated bathroom with elegant marble tiling. Spacious king-size bedroom with ample double door closet space. Additional storage in the entry hall walk-in closet and dining area pantry closet. Convenient laundry facilities and private storage available on the premises. FREE parking available in adjacent municipal lot or garage parking for additional fee. $1560 monthly building maintenance includes taxes, heat and water. CLOSE TO ALL --- only 2 blocks to LIRR train station and all shopping, restaurants and houses of worship. Close to JFK Airport and beaches. Don't miss this opportunity!! A MUST SEE!!!

15. 2025-10-21
    status Pending
16. 2025-10-21
    historical
17. 2025-03-17
    listed $289,000 Active
18. 2015-03-12
    soldstatus $137,000
19. 2015-03-12
    soldstatus $137,000 Closed
20. 2014-11-13
    status Under Contract
21. 2014-09-16
    listed $149,000 New
22. 2014-09-16
    listed $149,000

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 78% 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: $37,396
• − Mortgage interest: −$13,948
• − Property taxes: −$3,735
• − Insurance: −$1,912
• − Repairs & maintenance: −$2,992
• − Management: −$2,992
• − HOA: −$26,532
• − Depreciation: −$7,244
• Taxable loss: −$21,957
• Est. tax savings @ 24.0%: +$5,270
• After-tax cash flow: $-13,035/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 — Hewlett

• Score: 89/100
• State rank: #7
• US rank: #165

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: Hewlett, NY
• 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

+67.1% since first listed

11 events — show timeline

• 2026-04-08 Price Changed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-26 Price Changed $254,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-03 Listed $259,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-21 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-10-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-03-17 Listed $289,000 OneKey® MLS as Distributed by MLS Grid
• 2015-03-12 Sold (MLS) $137,000 MLSLI
• 2015-03-12 Sold (MLS) $137,000 OneKey® MLS as Distributed by MLS Grid
• 2014-11-13 Pending — MLSLI
• 2014-09-16 Listed $149,000 MLSLI
• 2014-09-16 Listed $149,000 OneKey® MLS as Distributed by MLS Grid