97 Burnham Ave

Roslyn Heights, NY 11577

$1,372,000C

4 bd · 2.5 ba · 2,453 sqft · Built 1961 · SingleFamily · Pending · 317 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $12,000/mo
• Mortgage (P&I): −$7,195
• Tax + insurance: −$1,832
• HOA: −$0
• Vac / Maint / Mgmt: −$2,520
• Net cashflow: $453/mo
• Annual: $5,438/yr
• Cap rate: 6.69%
• Cash-on-cash: 1.42%
• DSCR: 1.06
• 1% rule: 0.87%
• Cash to close: $384,160

Investor read

• This is a 4-bed/2.5-bath single-family listed at $1.37M.
• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.20M (12.5% below list).
• It's been on market 317 days — a 12% lower offer ($1.21M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.20M (12.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $9k of loan paydown is wiped out by about $41k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#98 in NY, #1,499 nationally) — a professional / high-income tenant draw. 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.
• Zoned schools: East Hills Elementary School (math 80% / reading 83%, grade A+, #170 of 2,108 statewide, top 8%, 565 students, 17% FRL); Roslyn Middle School (math 78% / reading 82%, grade A+, #28 of 729 statewide, top 4%, 766 students, 16% FRL); Roslyn High School (math 97% / reading 87%, grade A+, #171 of 1,100 statewide, top 18%, 1,035 students, 15% FRL).
• Market conditions: 71 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• 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 $230k; list at $1.37M implies a 497% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 55% 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

• It's been on market 317 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• Built in 1961 — 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.
• 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?
• 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.