185 S Middle Neck Rd Unit 3G · Thomaston, NY 11021

$299,000

1 bd · 1.0 ba · 700 sqft · Condo · 59 Days on market

Built 1960 Fair condition $427/sqft · 12% below area Est $341k · 12% under

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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 +14.6/30.0
• ARV discount +13.1/15.0
• Schools +7.6/10.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained co-op in Great Neck. This unit features a bright and spacious living room, dining room, kitchen, 1 bedroom, and 1 full bathroom. Very reasonable maintenance fee includes all utilities except electricity. Assigned parking is available for a low monthly fee of $60. In building common laundry room on the same floor as the unit. Close to shops, restaurants, parks, and schools. Close to the N20G, N20H, N21, N25, N26, and the N58 busses. A short drive to the Great Neck LIRR station. can go to both South and North Great Neck school.

Key facts

• Garage
• Built 1960
• Listed 59 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $299k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $72 ($867/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 $271k (9.5% below list).
• Recommended offer: $271k (9.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#121 in NY, #1,966 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living F.
• Great Neck Union Free School District (suburban): math 86% / reading 83% proficiency, ranked #30 of 590 in NY (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Market conditions: 200 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); 43% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 59 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $200k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $270,706 (9.5% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.91% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.04%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

• ARV (median comp): $341,425
• List price: $299,000
• Delta: -12.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -14.6%
• Equity multiple: 0.48×
• Total profit: $-43,808
• Equity at exit: $44,582

10-year hold

• IRR: -5.9%
• Equity multiple: 0.62×
• Total profit: $-32,055
• Equity at exit: $25,852

Cash invested: $83,720 (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 11021

• Active inventory: 200
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,707 high
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$568
• Net cashflow: $72

Break-even live

Break-even rent $2,616

Max offer price $299,000

Occupancy floor 92%

Sensitivity live

Price	-10% $279	-5% $176	+0% $72	+5% $-31	+10% $-134
Rent	-10% $-142	-5% $-35	+0% $72	+5% $179	+10% $286
Rate	-1.0pp $223	-0.5pp $148	base $72	+0.5pp $-5	+1.0pp $-84

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17 Schenck Ave Unit 3B Great Neck Plaza, NY	1.0	1.0	700	$2,295	$3.28	13d	1	0.28mi
11 Schenck Ave Unit 2D Great Neck Plaza, NY	1.0	1.0	750	$2,200	$2.93	44d	1	0.31mi
7 Bond St Unit 3J Great Neck, NY	1.0	1.0	650	$2,800	$4.31	20d	1	0.51mi
30 Barstow Rd Unit LL4 Great Neck, NY	—	1.0	415	$1,825	$4.40	44d	1	0.54mi
16 Stoner Ave Unit 2G Great Neck, NY	1.0	1.0	700	$2,800	$4.00	44d	1	0.59mi
240 E Shore Rd Great Neck, NY	3.0	1.0–2.5	999	$4,770	$4.77	1d	1	0.95mi
4212 Marathon Pkwy Little Neck, NY	1.0	1.0	550	$2,375	$4.32	25d	1	1.41mi

HOA detail condo

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

Listing history 18 events

1. 2026-06-18
   days on market $299,000 Active 59 DOM
2. 2026-06-17
   days on market $299,000 Active 58 DOM
3. 2026-06-16
   days on market $299,000 Active 57 DOM
4. 2026-06-15
   days on market $299,000 Active 56 DOM
5. 2026-06-13
   days on market $299,000 Active 54 DOM
6. 2026-06-09
   days on market $299,000 Active 50 DOM
7. 2026-06-08
   days on market $299,000 Active 49 DOM
8. 2026-06-07
   days on market $299,000 Active 48 DOM
9. 2026-06-04
   days on market $299,000 Active 45 DOM
10. 2026-06-03
    days on market $299,000 Active 44 DOM
11. 2026-06-02
    days on market $299,000 Active 43 DOM
12. 2026-06-01
    days on market $299,000 Active 42 DOM
13. 2026-05-31
    days on market $299,000 Active 41 DOM
14. 2026-04-20
    listed $299,000 Active 547-char remark

    Show marketing remark (547 chars)

    Well maintained co-op in Great Neck. This unit features a bright and spacious living room, dining room, kitchen, 1 bedroom, and 1 full bathroom. Very reasonable maintenance fee includes all utilities except electricity. Assigned parking is available for a low monthly fee of $60. In building common laundry room on the same floor as the unit. Close to shops, restaurants, parks, and schools. Close to the N20G, N20H, N21, N25, N26, and the N58 busses. A short drive to the Great Neck LIRR station. can go to both South and North Great Neck school.

15. 2026-04-18
    historical $299,000 547-char remark

    Show marketing remark (547 chars)

    Well maintained co-op in Great Neck. This unit features a bright and spacious living room, dining room, kitchen, 1 bedroom, and 1 full bathroom. Very reasonable maintenance fee includes all utilities except electricity. Assigned parking is available for a low monthly fee of $60. In building common laundry room on the same floor as the unit. Close to shops, restaurants, parks, and schools. Close to the N20G, N20H, N21, N25, N26, and the N58 busses. A short drive to the Great Neck LIRR station. can go to both South and North Great Neck school.

16. 2021-09-07
    soldstatus $200,000 Closed 279-char remark

    Show marketing remark (279 chars)

    Sun Drenched One Bedroom Apartment. Convenient To Transportation, 8 minutes walk to Great Neck train station, 2 minutes walk to n20G bus stop to flushing. Quiet Location, Faces Rear Of Building. Washer/Dryer On Same Floor As Apartment. Great Neck south and north school district.

17. 2021-04-09
    status Pending 279-char remark

    Show marketing remark (279 chars)

    Sun Drenched One Bedroom Apartment. Convenient To Transportation, 8 minutes walk to Great Neck train station, 2 minutes walk to n20G bus stop to flushing. Quiet Location, Faces Rear Of Building. Washer/Dryer On Same Floor As Apartment. Great Neck south and north school district.

18. 2021-03-22
    listed $197,000 Active 279-char remark

    Show marketing remark (279 chars)

    Sun Drenched One Bedroom Apartment. Convenient To Transportation, 8 minutes walk to Great Neck train station, 2 minutes walk to n20G bus stop to flushing. Quiet Location, Faces Rear Of Building. Washer/Dryer On Same Floor As Apartment. Great Neck south and north school district.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 15 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: $32,485
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,599
• − Management: −$2,599
• − Depreciation: −$8,698
• Taxable loss: −$4,140
• Est. tax savings @ 24.0%: +$994
• After-tax cash flow: $1,861/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations to update the kitchen and bathroom, but the exterior and foundation are in good condition. The home is located in a desirable area with good transportation access.

Repairs flagged

• Major kitchen cabinets — dated and worn
• Major kitchen countertops — worn and outdated
• Moderate bathroom fixtures — basic and dated
• Major flooring — carpeted and outdated

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizing the kitchen would appeal to both buyers and renters
• Both update bathroom fixtures — modernizing the bathroom would appeal to both buyers and renters
• Both paint interior walls — painting the interior walls would improve the overall appearance and appeal of the home

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Major	$15,000–50,000
kitchen countertops · worn and outdated	Major	$15,000–50,000
bathroom fixtures · basic and dated	Moderate	$3,000–15,000
flooring · carpeted and outdated	Major	$15,000–50,000
Total estimated repair cost · 4 items		$48,000–165,000

Value-add ROI direction

• Both update kitchen cabinets and countertops — modernizing the kitchen would appeal to both buyers and renters ↑
• Both update bathroom fixtures — modernizing the bathroom would appeal to both buyers and renters ↑
• Both paint interior walls — painting the interior walls would improve the overall appearance and appeal of the home ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Great Neck Union Free School District
• NCES district ID: 3612510
• Math proficiency: 86% ▬ 0.00%
• Reading proficiency: 83% ▬ 0.00%
• Median HH income: $99,939
• Composite: 76.19/100
• National rank: #111
• State rank: #30 of 590 in NY

Livability — Thomaston

• Score: 80/100
• State rank: #121
• US rank: #1966

Category grades

Amenities B+ Commute A+ Cost of living F Crime A+ Employment A+ Housing C Health & safety A User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thomaston, NY
• County: Nassau County · 653,051 people
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 19,783
• Household income: $120,230
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 601.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 56% Asian 31% Hispanic / Latino 8% Two or more races 5% Black 1%
• Common ancestry: Scotch-Irish 5% Romanian 4% Subsaharan African 1%
• Foreign-born: 36% · China, Canada, South Korea
• Languages at home: 54% English-only · Chinese 16% Other Indo-European 10% Spanish 7%

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: ▼ -736.84%
• Current HPI: 254.751
• 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

+51.8% since first listed

5 events — show timeline

• 2026-04-20 Listed $299,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-18 Coming Soon $299,000 OneKey® MLS as Distributed by MLS Grid
• 2021-09-07 Sold (MLS) $200,000 OneKey® MLS as Distributed by MLS Grid
• 2021-04-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-03-22 Listed $197,000 OneKey® MLS as Distributed by MLS Grid