360 Stewart Ave Unit 2B · Garden City, NY 11530

$515,000

2 bd · 1.0 ba · 915 sqft · Condo · 12 Days on market

Built 1930

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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).

• Cash flow +10.8/30.0
• Schools +8.2/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• 1% rule +3.2/10.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Gleaming western views above the tree canopy in this classic pre-war Coop in the heart of Garden City with Garden City schools. Rarely seen with wood burning fireplace and updated kitchen and bathroom on third floor walk-up building. Many amenities nearby including restaurants and shoppes of Seventh Street, building laundry, bike, and storage facilities, and rear-building parking. Amazing opportunity to be in the Village of Garden City. 30 Min ride on Long Island Railroad to NYC, and proximity to medical centers and highways.

Key facts

• Minutes from lirr
• Minutes to shopping
• Spacious corner unit

Tags

• UPDATED EAT IN KITCHEN
• FIREPLACE IN LIVING ROOM
• SPACIOUS CORNER UNIT
• NORTHERN AND WESTERN EXPOSURES
• MINUTES FROM LIRR
• MINUTES TO SHOPPING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $515k.

Deal economics

• At list price, monthly cash flow is $-235 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $481k (6.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $421k (18.3% below list).
• Recommended offer: $421k (18.3% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 2.2% in Garden City — 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 84/100 on livability (#45 in NY, #695 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, crime A; Watch: cost of living F.
• Garden City Union Free School District (suburban): math 89% / reading 84% proficiency, ranked #16 of 590 in NY (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 1% free/reduced lunch — higher-income household profile.
• Zoned schools: Stewart School (math 85% / reading 82%, grade A+, #128 of 2,108 statewide, top 6%, 707 students, 3% FRL); Garden City Middle School (math 88% / reading 87%, grade A+, #8 of 729 statewide, top 1%, 928 students, 4% FRL); Garden City High School (math 100% / reading 82%, grade A+, #226 of 1,100 statewide, top 21%, 1,090 students, 6% FRL) — zoned schools at 4% FRL track the district average.
• Market conditions: 134 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $4k of loan paydown is wiped out by about $15k 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 11y 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $420,734 (18.3% 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.82% ✗
• Cap rate: 5.74%
• Cash-on-cash: -1.96%
• DSCR: 0.91
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -19.5%
• Equity multiple: 0.32×
• Total profit: $-98,372
• Equity at exit: $76,788

10-year hold

• IRR: -12.3%
• Equity multiple: 0.27×
• Total profit: $-104,696
• Equity at exit: $44,528

Cash invested: $144,200 (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 11530

• Active inventory: 134
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $4,207 high
• Mortgage (P&I): −$2,701
• Tax est. 1.5%: −$644 /mo · $7,725/yr
• Insurance: −$215
• HOA: −$0
• Vacancy / Maint / Mgmt: −$884
• Net cashflow: $-235

Break-even live

Break-even rent $4,505

Max offer price $480,959

Occupancy floor —

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: $128,750
• Closing costs: $15,450
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
365 Stewart Ave Garden City, NY	1.0–2.0	1.0–2.0	1034	$4,985	$4.82	1d	1	0.11mi
303 Main St Hempstead, NY	1.0–2.0	1.0–2.0	1029	$4,326	$4.20	1d	7	0.72mi
20 Wendell St Apt 11A Hempstead, NY	2.0	1.0	800	$2,950	$3.69	13d	1	0.82mi
31-33 Burr Ave Hempstead, NY	3.0	1.0	700	$3,500	$5.00	43d	1	0.95mi
140 Old Country Rd Mineola, NY	1.0–2.0	1.0–2.0	912	$5,114	$5.61	1d	13	0.95mi
1 3rd Ave Mineola, NY	1.0–2.0	1.0–2.0	1140	$5,895	$5.17	1d	5	0.98mi
1 3rd St Unit 1033 Mineola, NY	1.0	1.0	700	$3,900	$5.57	43d	1	1.01mi
1 3rd St Unit 921 Mineola, NY	1.0	1.0	700	$3,750	$5.36	43d	1	1.01mi
254 Stewart Ave Unit 2C Hempstead, NY	1.0	1.0	800	$2,350	$2.94	2d	1	1.07mi
162 2nd St Unit 4 Mineola, NY	2.0	1.0	750	$3,600	$4.80	12d	1	1.13mi
78 Roslyn Rd Unit 202 Mineola, NY	1.0	1.0	1050	$2,950	$2.81	4d	1	1.18mi
2 Vanata Ct Hempstead, NY	3.0	1.0	1024	$3,800	$3.71	24d	1	1.19mi
36 Hilton Ave Unit 306 Hempstead, NY	1.0	1.0	1003	$2,350	$2.34	15d	1	1.22mi
343 Jackson St Unit 3 Hempstead, NY	2.0	1.5	1000	$3,300	$3.30	24d	1	1.23mi
343 Jackson St Unit 1 Hempstead, NY	2.0	2.0	1000	$3,300	$3.30	43d	1	1.23mi
147 Main St Unit 3B Mineola, NY	1.0	1.0	1100	$3,300	$3.00	43d	1	1.23mi
2 Laurel Dr Mineola, NY	2.0	1.0–2.0	641	$3,495	$5.45	1d	15	1.25mi
119 Searing Ave Mineola, NY	2.0	1.0–2.0	946	$5,135	$5.43	1d	13	1.28mi
101 Searing Ave Unit 210 Mineola, NY	1.0	1.0	1085	$4,900	$4.52	43d	1	1.29mi
101 Searing Ave Unit 502 Mineola, NY	1.0	1.0	998	$4,400	$4.41	11d	1	1.29mi
101 Searing Ave Unit 301 Mineola, NY	1.0	1.0	1093	$4,600	$4.21	43d	1	1.29mi
222 Cleveland Ave Mineola, NY	3.0	1.0	1100	$4,000	$3.64	1d	1	1.30mi
116 Searing Ave Unit N322 Mineola, NY	2.0	2.0	1100	$4,435	$4.03	2d	1	1.31mi
116 Searing Ave Unit PHN418 Mineola, NY	1.0	1.0	831	$4,215	$5.07	5d	1	1.31mi
160 Garfield Ave Unit 1 Mineola, NY	2.0	1.0	1000	$3,450	$3.45	13d	1	1.36mi
101 Clinton Ave Unit 1G Mineola, NY	1.0	1.0	750	$2,500	$3.33	43d	1	1.36mi
203 Willis Ave Apt 3E Mineola, NY	1.0	1.0	650	$2,200	$3.38	43d	1	1.42mi
100 Lincoln Ave Apt 14A Mineola, NY	1.0	1.0	900	$2,998	$3.33	24d	1	1.47mi

HOA detail condo

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

Listing history 12 events

1. 2026-03-10
   status Pending
2. 2026-02-24
   listed $515,000 Active
3. 2022-10-11
   soldstatus $465,500 Closed 531-char remark

   Show marketing remark (531 chars)

   Gleaming western views above the tree canopy in this classic pre-war Coop in the heart of Garden City with Garden City schools. Rarely seen with wood burning fireplace and updated kitchen and bathroom on third floor walk-up building. Many amenities nearby including restaurants and shoppes of Seventh Street, building laundry, bike, and storage facilities, and rear-building parking. Amazing opportunity to be in the Village of Garden City. 30 Min ride on Long Island Railroad to NYC, and proximity to medical centers and highways.

4. 2022-07-14
   status Pending 531-char remark

   Show marketing remark (531 chars)

   Gleaming western views above the tree canopy in this classic pre-war Coop in the heart of Garden City with Garden City schools. Rarely seen with wood burning fireplace and updated kitchen and bathroom on third floor walk-up building. Many amenities nearby including restaurants and shoppes of Seventh Street, building laundry, bike, and storage facilities, and rear-building parking. Amazing opportunity to be in the Village of Garden City. 30 Min ride on Long Island Railroad to NYC, and proximity to medical centers and highways.

5. 2022-06-22
   listed $499,000 Active 531-char remark

   Show marketing remark (531 chars)

   Gleaming western views above the tree canopy in this classic pre-war Coop in the heart of Garden City with Garden City schools. Rarely seen with wood burning fireplace and updated kitchen and bathroom on third floor walk-up building. Many amenities nearby including restaurants and shoppes of Seventh Street, building laundry, bike, and storage facilities, and rear-building parking. Amazing opportunity to be in the Village of Garden City. 30 Min ride on Long Island Railroad to NYC, and proximity to medical centers and highways.

6. 2016-07-27
   soldstatus $340,000 253-char remark

   Show marketing remark (253 chars)

   Great 2Bedroom Apartment Located In The Heart Of Garden City. Walking Distance To Town And Railroad. This Apartment Has 2 Good Sized Bedrooms, Updated Full Bath, Nice Eat In Kitchen. It Also Has Large Living Room With Working Fireplace With Great Views.

7. 2016-07-27
   soldstatus $340,000 Closed

   Show marketing remark (253 chars)

   Great 2Bedroom Apartment Located In The Heart Of Garden City. Walking Distance To Town And Railroad. This Apartment Has 2 Good Sized Bedrooms, Updated Full Bath, Nice Eat In Kitchen. It Also Has Large Living Room With Working Fireplace With Great Views.

8. 2016-05-04
   status Under Contract
9. 2016-02-24
   status Listing Extended
10. 2015-10-23
    status Under Contract
11. 2015-09-01
    listed $345,000 New
12. 2015-08-31
    listed $345,000 253-char remark

    Show marketing remark (253 chars)

    Great 2Bedroom Apartment Located In The Heart Of Garden City. Walking Distance To Town And Railroad. This Apartment Has 2 Good Sized Bedrooms, Updated Full Bath, Nice Eat In Kitchen. It Also Has Large Living Room With Working Fireplace With Great Views.

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥96°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 5 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,488
• − Mortgage interest: −$28,848
• − Property taxes: −$7,725
• − Insurance: −$2,575
• − Repairs & maintenance: −$4,039
• − Management: −$4,039
• − Depreciation: −$14,982
• Taxable loss: −$11,720
• Est. tax savings @ 24.0%: +$2,813
• After-tax cash flow: $-10/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: Garden City Union Free School District
• NCES district ID: 3611760
• Math proficiency: 89% ▲ 3.00%
• Reading proficiency: 84% ▲ 6.00%
• Median HH income: $147,057
• Composite: 82.35/100
• National rank: #33
• State rank: #16 of 590 in NY

Livability — Garden City

• Score: 84/100
• State rank: #45
• US rank: #695

Category grades

Amenities C+ 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: Garden City, NY
• County: Nassau County · 653,051 people
• City population: 27,939
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 27,939
• Household income: $228,143
• Rent vs Own: 10.1% rent · 89.9% own
• Severe rent burden: 329.0

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: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Asian 6% Black 1%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 4% Danish 1% Lithuanian 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 87% English-only · Other Indo-European 4% Spanish 4% Chinese 3%

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: ▼ -738.90%
• Current HPI: 274.0981
• 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

+49.3% since first listed

12 events — show timeline

• 2026-03-10 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-24 Listed $515,000 OneKey® MLS as Distributed by MLS Grid
• 2022-10-11 Sold (MLS) $465,500 OneKey® MLS as Distributed by MLS Grid
• 2022-07-14 Pending — OneKey® MLS as Distributed by MLS Grid
• 2022-06-22 Listed $499,000 OneKey® MLS as Distributed by MLS Grid
• 2016-07-27 Sold (MLS) $340,000 OneKey® MLS as Distributed by MLS Grid
• 2016-07-27 Sold (MLS) $340,000 MLSLI
• 2016-05-04 Pending — MLSLI
• 2016-02-24 Relisted — MLSLI
• 2015-10-23 Pending — MLSLI
• 2015-09-01 Listed $345,000 MLSLI
• 2015-08-31 Listed $345,000 OneKey® MLS as Distributed by MLS Grid