7 Continental Hl · Glen Cove, NY 11542

$740,000

4 bd · 2.5 ba · 1,592 sqft · MultiFamily public records · 238 Days on market

Built 1900 0.51 ac lot $465/sqft · 36% below area Est $1240k · 40% under

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Why this score? — see what drove the B- 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 +24.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.1/10.0
• Schools +4.7/10.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This beautifully remodeled historic Colonial blends timeless turn-of-the-century charm with modern updates throughout. Tucked away with a private, hidden driveway, the home features a new kitchen and updated bathrooms, rich hardwood floors, and abundant natural light. The finished basement and finished attic provide valuable additional living space, ideal for a home office, gym, or guest area. Situated on an oversized lot with parking for up to six cars, this property offers both privacy and convenience. A rare opportunity to own a classic Glen Cove home with character, space, and thoughtful renovations.

Key facts

• New kitchen
• Finished attic
• Hidden driveway

Tags

• HIDDEN DRIVEWAY
• NEW KITCHEN
• FINISHED BASEMENT
• FINISHED ATTIC

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $740k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $740k).
• Recommended offer: $651k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.7% in Glen Cove — 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 65/100 on livability (#685 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: schools C-, housing C-, amenities F.
• Glen Cove City School District (suburban): math 50% / reading 55% proficiency, ranked #312 of 590 in NY (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.4%/yr); 144 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• At $7,465/mo this rent would consume 96% of the median local household income ($93k/yr) (locally 1667% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• 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.
• Nassau County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $207k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 238 days — a 12% lower offer ($651k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $400k; list at $740k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 56% 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 $651,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 238 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.01% ✓
• Cap rate: 8.65%
• Cash-on-cash: 8.42%
• DSCR: 1.37
• GRM: 8.3

CMA / ARV

• ARV (median comp): $1,240,261
• List price: $740,000
• Delta: -40.34%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17 Hammond Rd	0.49mi	4/3.0	1,450 (-9%)	7mo	$800,000	$552	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.43% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-945
• Equity at exit: $110,336

10-year hold

• IRR: 12.5%
• Equity multiple: 2.13×
• Total profit: $234,572
• Equity at exit: $63,982

Cash invested: $207,200 (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 11542

• Rents YoY: 6.4%
• Active inventory: 144
• Price-to-rent: 16.5×

Monthly cashflow live

• Estimated rent: $7,465 high
• Mortgage (P&I): −$3,881
• Tax from tax record: −$254 /mo · $3,050/yr
• Insurance: −$308
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,568
• Net cashflow: $1,454

Break-even live

Break-even rent $5,624

Max offer price $740,000

Occupancy floor 76%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$7,464
Total (2 units)			$7,465

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: $185,000
• Closing costs: $22,200
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29 Hendrick Ave Unit B Glen Cove, NY	3.0	1.0	1546	$3,200	$2.07	25d	1	0.27mi
6 Lee Gray Ct Unit 2 Glen Cove, NY	3.0	2.0	1380	$4,000	$2.90	44d	1	0.43mi
8 Lee Gray Ct Glen Cove, NY	4.0	2.5	1900	$4,800	$2.53	1d	1	0.44mi
45 Hammond Rd Glen Cove, NY	3.0	2.0	1200	$3,500	$2.92	13d	1	0.56mi
29 Butler St Unit 2 Glen Cove, NY	3.0	1.0	1200	$4,100	$3.42	44d	1	0.61mi
29 Butler St Unit 1 Glen Cove, NY	3.0	1.0	1200	$3,900	$3.25	25d	1	0.61mi
21 Franklin Ave Glen Cove, NY	4.0	2.0	1467	$5,400	$3.68	12d	1	0.66mi
41 Clement St Glen Cove, NY	3.0	2.0	1320	$3,600	$2.73	2d	1	0.73mi
18 Park Ave Glen Cove, NY	3.0	2.0	1600	$3,995	$2.50	25d	1	0.74mi
8 Locust St Glen Cove, NY	3.0	1.5	1500	$4,100	$2.73	6d	1	0.78mi
63 Franklin Ave Glen Cove, NY	3.0	1.0	1817	$3,400	$1.87	44d	1	0.79mi
14 1st St Glen Cove, NY	3.0	2.0	1120	$4,200	$3.75	44d	1	0.82mi
88 Coles St Glen Cove, NY	3.0	2.0	2218	$5,500	$2.48	18d	1	0.84mi
90 Coles St Glen Cove, NY	3.0	1.0	1200	$3,400	$2.83	19d	1	0.85mi
20 Alex Ln Unit 1 Glen Cove, NY	3.0	2.0	1369	$4,500	$3.29	44d	1	0.86mi
20 Alex Ln Unit 2 Glen Cove, NY	3.0	2.0	1407	$4,000	$2.84	44d	1	0.86mi
226 Glen Cove Ave Unit 2nd floor Glen Cove, NY	3.0	1.5	1074	$3,200	$2.98	21d	1	0.90mi
8 Jackson St Glen Cove, NY	3.0	1.0	1400	$3,750	$2.68	7d	1	0.99mi
8 Jackson St Unit 1 Glen Cove, NY	3.0	1.0	1900	$3,700	$1.95	7d	1	0.99mi
8 Jackson St Unit 1 Glen Cove, NY	3.0	1.0	1900	$3,700	$1.95	25d	1	0.99mi
26 Purdue Rd Glen Cove, NY	4.0	2.0	1500	$4,800	$3.20	25d	1	1.09mi
118 Forest Ave Glen Cove, NY	3.0	1.5	1983	$3,900	$1.97	44d	1	1.14mi
22 Ford St Unit 1 Glen Cove, NY	3.0	1.0	1136	$2,900	$2.55	44d	1	1.30mi
22 Ford St Unit 1 Glen Cove, NY	3.0	1.0	1360	$2,750	$2.02	19d	1	1.30mi
32 East Ave Unit 1 Glen Cove, NY	3.0	2.0	1800	$3,650	$2.03	1d	1	1.31mi
9 Nassau Rd Unit 1 Glen Cove, NY	3.0	2.5	1600	$4,100	$2.56	19d	1	1.41mi

Listing history 20 events

1. 2026-06-09
   days on market $740,000 Active 238 DOM
2. 2026-06-08
   days on market $740,000 Active 237 DOM
3. 2026-06-07
   days on market $740,000 Active 236 DOM
4. 2026-06-04
   days on market $740,000 Active 233 DOM
5. 2026-06-03
   days on market $740,000 Active 232 DOM
6. 2026-06-02
   days on market $740,000 Active 231 DOM
7. 2026-06-01
   days on market $740,000 Active 230 DOM
8. 2026-05-31
   days on market $740,000 Active 229 DOM
9. 2026-05-02
   status Active 613-char remark

   Show marketing remark (613 chars)

   This beautifully remodeled historic Colonial blends timeless turn-of-the-century charm with modern updates throughout. Tucked away with a private, hidden driveway, the home features a new kitchen and updated bathrooms, rich hardwood floors, and abundant natural light. The finished basement and finished attic provide valuable additional living space, ideal for a home office, gym, or guest area. Situated on an oversized lot with parking for up to six cars, this property offers both privacy and convenience. A rare opportunity to own a classic Glen Cove home with character, space, and thoughtful renovations.

10. 2026-05-01
    historical 613-char remark

    Show marketing remark (613 chars)

    This beautifully remodeled historic Colonial blends timeless turn-of-the-century charm with modern updates throughout. Tucked away with a private, hidden driveway, the home features a new kitchen and updated bathrooms, rich hardwood floors, and abundant natural light. The finished basement and finished attic provide valuable additional living space, ideal for a home office, gym, or guest area. Situated on an oversized lot with parking for up to six cars, this property offers both privacy and convenience. A rare opportunity to own a classic Glen Cove home with character, space, and thoughtful renovations.

11. 2026-04-01
    price $740,000 613-char remark

    Show marketing remark (613 chars)

    This beautifully remodeled historic Colonial blends timeless turn-of-the-century charm with modern updates throughout. Tucked away with a private, hidden driveway, the home features a new kitchen and updated bathrooms, rich hardwood floors, and abundant natural light. The finished basement and finished attic provide valuable additional living space, ideal for a home office, gym, or guest area. Situated on an oversized lot with parking for up to six cars, this property offers both privacy and convenience. A rare opportunity to own a classic Glen Cove home with character, space, and thoughtful renovations.

12. 2026-02-18
    price $745,000 613-char remark

    Show marketing remark (613 chars)

    This beautifully remodeled historic Colonial blends timeless turn-of-the-century charm with modern updates throughout. Tucked away with a private, hidden driveway, the home features a new kitchen and updated bathrooms, rich hardwood floors, and abundant natural light. The finished basement and finished attic provide valuable additional living space, ideal for a home office, gym, or guest area. Situated on an oversized lot with parking for up to six cars, this property offers both privacy and convenience. A rare opportunity to own a classic Glen Cove home with character, space, and thoughtful renovations.

13. 2025-12-13
    price $748,000 613-char remark

    Show marketing remark (613 chars)

    This beautifully remodeled historic Colonial blends timeless turn-of-the-century charm with modern updates throughout. Tucked away with a private, hidden driveway, the home features a new kitchen and updated bathrooms, rich hardwood floors, and abundant natural light. The finished basement and finished attic provide valuable additional living space, ideal for a home office, gym, or guest area. Situated on an oversized lot with parking for up to six cars, this property offers both privacy and convenience. A rare opportunity to own a classic Glen Cove home with character, space, and thoughtful renovations.

14. 2025-12-06
    price $749,900 613-char remark

    Show marketing remark (613 chars)

    This beautifully remodeled historic Colonial blends timeless turn-of-the-century charm with modern updates throughout. Tucked away with a private, hidden driveway, the home features a new kitchen and updated bathrooms, rich hardwood floors, and abundant natural light. The finished basement and finished attic provide valuable additional living space, ideal for a home office, gym, or guest area. Situated on an oversized lot with parking for up to six cars, this property offers both privacy and convenience. A rare opportunity to own a classic Glen Cove home with character, space, and thoughtful renovations.

15. 2025-12-06
    price $7,499,000 613-char remark

    Show marketing remark (613 chars)

    This beautifully remodeled historic Colonial blends timeless turn-of-the-century charm with modern updates throughout. Tucked away with a private, hidden driveway, the home features a new kitchen and updated bathrooms, rich hardwood floors, and abundant natural light. The finished basement and finished attic provide valuable additional living space, ideal for a home office, gym, or guest area. Situated on an oversized lot with parking for up to six cars, this property offers both privacy and convenience. A rare opportunity to own a classic Glen Cove home with character, space, and thoughtful renovations.

16. 2025-12-01
    price $757,000 613-char remark

    Show marketing remark (613 chars)

    This beautifully remodeled historic Colonial blends timeless turn-of-the-century charm with modern updates throughout. Tucked away with a private, hidden driveway, the home features a new kitchen and updated bathrooms, rich hardwood floors, and abundant natural light. The finished basement and finished attic provide valuable additional living space, ideal for a home office, gym, or guest area. Situated on an oversized lot with parking for up to six cars, this property offers both privacy and convenience. A rare opportunity to own a classic Glen Cove home with character, space, and thoughtful renovations.

17. 2025-12-01
    price $765,000 613-char remark

    Show marketing remark (613 chars)

    This beautifully remodeled historic Colonial blends timeless turn-of-the-century charm with modern updates throughout. Tucked away with a private, hidden driveway, the home features a new kitchen and updated bathrooms, rich hardwood floors, and abundant natural light. The finished basement and finished attic provide valuable additional living space, ideal for a home office, gym, or guest area. Situated on an oversized lot with parking for up to six cars, this property offers both privacy and convenience. A rare opportunity to own a classic Glen Cove home with character, space, and thoughtful renovations.

18. 2025-10-14
    listed $777,000 Active 613-char remark

    Show marketing remark (613 chars)

    This beautifully remodeled historic Colonial blends timeless turn-of-the-century charm with modern updates throughout. Tucked away with a private, hidden driveway, the home features a new kitchen and updated bathrooms, rich hardwood floors, and abundant natural light. The finished basement and finished attic provide valuable additional living space, ideal for a home office, gym, or guest area. Situated on an oversized lot with parking for up to six cars, this property offers both privacy and convenience. A rare opportunity to own a classic Glen Cove home with character, space, and thoughtful renovations.

19. 2005-05-06
    soldstatus $400,500
20. 2001-07-31
    soldstatus $195,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $3,050 · $254/mo
• Projected year-2 tax: $7,778 · $648/mo
• Expected delta: +$4,728/yr (+$394/mo · 155.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $89,580
• − Mortgage interest: −$41,452
• − Property taxes: −$3,050
• − Insurance: −$3,700
• − Repairs & maintenance: −$7,166
• − Management: −$7,166
• − Depreciation: −$21,527
• Taxable income: $5,518
• Est. tax owed @ 24.0%: −$1,324
• After-tax cash flow: $16,126/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: Glen Cove City School District
• NCES district ID: 3612180
• Math proficiency: 50% ▼ -5.00%
• Reading proficiency: 55% ▲ 6.00%
• Median HH income: $70,021
• Composite: 46.76/100
• National rank: #2391
• State rank: #312 of 590 in NY

Livability — Glen Cove

• Score: 65/100
• State rank: #685
• US rank: #12441

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glen Cove, NY
• County: Nassau County · 653,051 people
• City population: 28,965
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 28,965
• Household income: $93,242
• Rent vs Own: 48.2% rent · 51.8% own
• Severe rent burden: 1667.0

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 0.57)
• Race & ethnicity: White 56% Hispanic / Latino 32% Two or more races 14% Asian 5% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Dominican 3%
• Common ancestry: Romanian 5% Scotch-Irish 2% Italian 1%
• Foreign-born: 28% · Canada, China, Jamaica
• Languages at home: 60% English-only · Spanish 27% Other Indo-European 9% Chinese 1%

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: ▼ -377.99%
• Current HPI: 275.1903
• Rent YoY: ▲ 6.43%
• 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

+279.5% since first listed

12 events — show timeline

• 2026-05-02 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-05-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-04-01 Price Changed $740,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-18 Price Changed $745,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-13 Price Changed $748,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-06 Price Changed $749,900 OneKey® MLS as Distributed by MLS Grid
• 2025-12-06 Price Changed $7,499,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-01 Price Changed $757,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-01 Price Changed $765,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-14 Listed $777,000 OneKey® MLS as Distributed by MLS Grid
• 2005-05-06 Sold (Public Records) $400,500 Public Records
• 2001-07-31 Sold (Public Records) $195,000 Public Records

Property tax history

+1.0%/yr

Latest (2024): $3,050 · +10.5% YoY. Source: county tax records.