471 Division Ave

Hicksville, NY 11801

$719,000D

4 bd · 2.0 ba · 1,600 sqft · Built 1952 · SingleFamily · Pending · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,715/mo
• Mortgage (P&I): −$3,771
• Tax + insurance: −$699
• HOA: −$0
• Vac / Maint / Mgmt: −$990
• Net cashflow: $-744/mo
• Annual: $-8,933/yr
• Cap rate: 5.05%
• Cash-on-cash: -4.44%
• DSCR: 0.80
• 1% rule: 0.66%
• Cash to close: $201,320

Investor read

• This is a 4-bed/2.0-bath single-family listed at $719k.
• At list price, monthly cash flow is $-744 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $587k (18.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $471k (34.4% below list).
• It's been on market 48 days — a 3% lower offer ($697k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $471k (34.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k of value loss. Plan a longer hold.
• Location reads 85/100 on livability (#31 in NY, #526 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Hicksville Union Free School District (suburban): math 55% / reading 62% proficiency, ranked #200 of 590 in NY (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Fork Lane School (math 37% / reading 42%, grade F, #1,444 of 2,108 statewide, top 71%, 294 students, 50% FRL); Hicksville Middle School (math 39% / reading 61%, grade C, #261 of 729 statewide, top 36%, 1,185 students, 52% FRL); Hicksville High School (math 76% / reading 77%, grade A-, #612 of 1,100 statewide, top 56%, 1,852 students, 49% FRL) — zoned schools average 50% FRL vs 24% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.4%/yr); 189 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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).
• 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 5.1% vs local median 3.4% in Hicksville — 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.
• This rent runs 39% of the median local income ($146k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 48 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
• Built in 1952 — 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.
• 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?
• 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.