242 Munro Blvd · Valley Stream, NY 11581

$1,150,000

6 bd · 2.5 ba · 2,377 sqft · MultiFamily public records · 112 Days on market

Built 1966 4,000 sqft lot $484/sqft · 15% below area Est $1353k · 15% under

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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).

• ARV discount +14.2/15.0
• Schools +7.0/10.0
• Cash flow +6.9/30.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Beautiful & Large 6 Over 6 Two Family Home In The Highly Sought After Hewlett / Woodmere School District (Sd#14). Updated CAC & Water Heater + Updates Throughout The Home. Excellent Opportunity - Great Home Or Income Property - Near LIRR - Don't Miss It. Both apartments are available for showing.

Key facts

• 4,000 sq ft lot
• Built 1966
• Listed 112 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $1.15M.

Deal economics

• At list price, monthly cash flow is $-2k ($-21k/yr) — negative. Per door: $-874/mo.
• To cash-flow at today's rent, offer at most $841k (26.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $763k (33.6% below list).
• Recommended offer: $763k (33.6% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 3.3% in Valley Stream — 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 87/100 on livability (#13 in NY, #301 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Hewlett-Woodmere Union Free School District (suburban): math 72% / reading 79% proficiency, ranked #59 of 590 in NY (top 10%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: 100 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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).
• At $7,632/mo this rent would consume 64% of the median local household income ($142k/yr) (locally 346% 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 $8k of loan paydown is wiped out by about $34k 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 112 days — a 9% lower offer ($1.05M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask is 6% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $710k; list at $1.15M implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 70% 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 $763,200 (33.6% 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. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.66% ✗
• Cap rate: 4.47%
• Cash-on-cash: -6.51%
• DSCR: 0.71
• GRM: 12.6

CMA / ARV

• ARV (median comp): $1,352,804
• List price: $1,150,000
• Delta: -14.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
375 Cochran Pl	0.61mi	6/2.0	2,340 (-2%)	5mo	$1,065,999	$456	63
30 Gibson Blvd	0.62mi	6/2.0	2,340 (-2%)	6mo	$1,070,000	$457	61
1 Munro Blvd	0.51mi	5/4.0 (-1)	2,392 (+1%)	4mo	$1,200,000	$502	61
35 Gibson Blvd	0.59mi	5/— (-1)	2,340 (-2%)	4mo	$1,150,000	$491	61
108 Bismark Ave	0.37mi	6/4.0	2,197 (-8%)	4mo	$1,299,999	$592	60
83 Gibson Blvd	0.51mi	6/2.0	2,366 (-0%)	18mo	$945,000	$399	58
582 Rockaway Ave	0.60mi	6/3.0	2,340 (-2%)	11mo	$1,080,000	$462	58
12 Roxy Pl	0.58mi	5/2.0 (-1)	2,250 (-5%)	2mo	$950,000	$422	56
99 Gibson Blvd	0.51mi	5/2.0 (-1)	2,288 (-4%)	9mo	$800,000	$350	56
12 Olive Pl	0.72mi	5/3.0 (-1)	2,288 (-4%)	8mo	$865,000	$378	46
23 Thompson Pl	0.68mi	5/2.0 (-1)	2,149 (-10%)	1mo	$915,000	$426	44
10 Hazel Pl	0.52mi	7/2.0 (+1)	2,020 (-15%)	18mo	$807,000	$400	29

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -27.6%
• Equity multiple: 0.08×
• Total profit: $-297,651
• Equity at exit: $171,469

10-year hold

• IRR: -25.8%
• Equity multiple: -0.25×
• Total profit: $-402,478
• Equity at exit: $99,431

Cash invested: $322,000 (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 11581

• Active inventory: 100
• Price-to-rent: 25.1×

Monthly cashflow live

• Estimated rent: $7,632 high
• Mortgage (P&I): −$6,031
• Tax from tax record: −$1,267 /mo · $15,205/yr
• Insurance: −$479
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,603
• Net cashflow: $-1,748

Break-even live

Break-even rent $9,844

Max offer price $841,262

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$7,632
Total (2 units)			$7,632

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: $287,500
• Closing costs: $34,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
336 Scranton Ave Unit 1 Lynbrook, NY	5.0	2.5	2983	$3,990	$1.34	1d	1	0.59mi
389 Hamilton Ave Hewlett, NY	5.0	2.0	1650	$4,700	$2.85	7d	1	0.99mi
389 Hamilton Ave Hewlett, NY	5.0	2.0	1644	$4,700	$2.86	11d	1	0.99mi

Listing history 9 events

1. 2026-05-19
   status Pending 309-char remark

   Show marketing remark (309 chars)

   Beautiful & Large 6 Over 6 Two Family Home In The Highly Sought After Hewlett / Woodmere School District (Sd#14). Updated CAC & Water Heater + Updates Throughout The Home. Excellent Opportunity - Great Home Or Income Property - Near LIRR - Don't Miss It. Both apartments are available for showing.

2. 2026-05-07
   price $1,150,000 309-char remark

   Show marketing remark (309 chars)

   Beautiful & Large 6 Over 6 Two Family Home In The Highly Sought After Hewlett / Woodmere School District (Sd#14). Updated CAC & Water Heater + Updates Throughout The Home. Excellent Opportunity - Great Home Or Income Property - Near LIRR - Don't Miss It. Both apartments are available for showing.

3. 2026-04-17
   price $1,050,000 309-char remark

   Show marketing remark (309 chars)

   Beautiful & Large 6 Over 6 Two Family Home In The Highly Sought After Hewlett / Woodmere School District (Sd#14). Updated CAC & Water Heater + Updates Throughout The Home. Excellent Opportunity - Great Home Or Income Property - Near LIRR - Don't Miss It. Both apartments are available for showing.

4. 2026-01-27
   listed $1,088,000 Active 309-char remark

   Show marketing remark (309 chars)

   Beautiful & Large 6 Over 6 Two Family Home In The Highly Sought After Hewlett / Woodmere School District (Sd#14). Updated CAC & Water Heater + Updates Throughout The Home. Excellent Opportunity - Great Home Or Income Property - Near LIRR - Don't Miss It. Both apartments are available for showing.

5. 2018-12-26
   soldstatus $710,000
6. 2018-12-17
   soldstatus $710,000 Closed 330-char remark

   Show marketing remark (330 chars)

   Beautiful & Large 6 Over 6 Two Family Home In The Highly Sought After Hewlett/Woodmere School District (Sd#14). New Cac & Too Many Updates Throughout The Home To List. Excellent Opportunity - Great Home Or Income Property - Near Lirr - Don't Miss It., Additional information: Appearance:Mint,Separate Hotwater Heater:Gas

7. 2018-10-16
   status Under Contract 330-char remark

   Show marketing remark (330 chars)

   Beautiful & Large 6 Over 6 Two Family Home In The Highly Sought After Hewlett/Woodmere School District (Sd#14). New Cac & Too Many Updates Throughout The Home To List. Excellent Opportunity - Great Home Or Income Property - Near Lirr - Don't Miss It., Additional information: Appearance:Mint,Separate Hotwater Heater:Gas

8. 2018-07-29
   listed $739,000 New 330-char remark

   Show marketing remark (330 chars)

   Beautiful & Large 6 Over 6 Two Family Home In The Highly Sought After Hewlett/Woodmere School District (Sd#14). New Cac & Too Many Updates Throughout The Home To List. Excellent Opportunity - Great Home Or Income Property - Near Lirr - Don't Miss It., Additional information: Appearance:Mint,Separate Hotwater Heater:Gas

9. 1989-02-10
   soldstatus $279,000

ⓘ 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: $15,205 · $1,267/mo
• Projected year-2 tax: $17,320 · $1,443/mo
• Expected delta: +$2,115/yr (+$176/mo · 13.9%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 13% 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 70% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $91,584
• − Mortgage interest: −$64,418
• − Property taxes: −$15,205
• − Insurance: −$5,750
• − Repairs & maintenance: −$7,327
• − Management: −$7,327
• − Depreciation: −$33,455
• Taxable loss: −$41,897
• Est. tax savings @ 24.0%: +$10,055
• After-tax cash flow: $-10,917/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: Hewlett-Woodmere Union Free School District
• NCES district ID: 3631710
• Math proficiency: 72% ▼ -7.00%
• Reading proficiency: 79% ▼ -3.00%
• Median HH income: $112,656
• Composite: 69.89/100
• National rank: #287
• State rank: #59 of 590 in NY

Livability — Valley Stream

• Score: 87/100
• State rank: #13
• US rank: #301

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Valley Stream, NY
• County: Nassau County · 653,051 people
• City population: 65,910
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 22,818
• Household income: $142,233
• Rent vs Own: 16.6% rent · 83.4% own
• Severe rent burden: 346.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: White 39% Hispanic / Latino 19% Black 18% Asian 17% Two or more races 10%
• Hispanic origin (detail): Puerto Rican 5% Dominican 2%
• Common ancestry: Scotch-Irish 4% Romanian 3% Hispanic 2%
• Foreign-born: 32% · Canada, China, Jamaica
• Languages at home: 64% English-only · Spanish 13% Other Indo-European 8% Russian/Polish/Slavic 4%

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: ▼ -602.04%
• Current HPI: 285.7096
• 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

+312.2% since first listed

9 events — show timeline

• 2026-05-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-05-07 Price Changed $1,150,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-17 Price Changed $1,050,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-27 Listed $1,088,000 OneKey® MLS as Distributed by MLS Grid
• 2018-12-26 Sold (Public Records) $710,000 Public Records
• 2018-12-17 Sold (MLS) $710,000 OneKey® MLS as Distributed by MLS Grid
• 2018-10-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2018-07-29 Listed $739,000 OneKey® MLS as Distributed by MLS Grid
• 1989-02-10 Sold (Public Records) $279,000 Public Records

Property tax history

+2.4%/yr

Latest (2024): $15,205 · -0.3% YoY. Source: county tax records.