84 Middle Neck Rd

Flower Hill, NY 11576

$980,000C-

4 bd · 3.0 ba · 1,309 sqft · Built 1953 · SingleFamily · Active · 83 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,026/mo
• Mortgage (P&I): −$5,139
• Tax + insurance: −$1,686
• HOA: −$0
• Vac / Maint / Mgmt: −$1,475
• Net cashflow: $-1,275/mo
• Annual: $-15,300/yr
• Cap rate: 4.73%
• Cash-on-cash: -5.58%
• DSCR: 0.75
• 1% rule: 0.72%
• Cash to close: $274,400

Investor read

• This is a 4-bed/3.0-bath single-family listed at $980k.
• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $755k (23.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $703k (28.3% below list).
• It's been on market 83 days — a 6% lower offer ($921k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $703k (28.3% below list) — sets the bar for 1% rule.
• In year one you build about $80k of equity ($7k loan paydown + $73k appreciation (7.5% local appreciation)).
• Location reads 76/100 on livability (#212 in NY, #3,270 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: amenities D, cost of living F.
• Roslyn Union Free School District (suburban): math 83% / reading 82% proficiency, ranked #28 of 590 in NY (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 8% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 81 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 4 sale attempts since 3y 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 $575k; list at $980k implies a 70% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$128k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 59% 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.

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?
• It's been on market 83 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.