21 S Village #3 · Rockville Centre, NY 11570

$229,000

1 bd · 1.0 ba · 550 sqft · Condo · 209 Days on market

Built 1940 Good condition

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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 +27.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• Schools +7.4/10.0
• 1% rule +7.3/10.0
• Livability +4.3/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rockville Centre 1 or 2 bedroom CO-OP formerly used as professional/business space at The Elmwood House. Corner unit with a private entrance in a secluded section of the complex. It may be used as professional/business space or residential; 4 rooms plus a bathroom. $1021 monthly maintenance. Owner pays reduced rate Rockville Centre electric. A kitchen would need to be installed by new owner. Gas line is accessible in the unit. Approved plans already submitted. Heat is controlled by owner and it's a separate system for the unit. New electric & flooring. 20% down payment required, along with board approval. After 2 years owner occupancy, unit may be leased. Washer & Dryer is allowed in the unit, and a common laundry room is in the basement of the same building. Short waiting list for parking, once acquired it's $45/month. Municipal Parking Available in the lot adjacent to the rear of this property or across Lincoln Avenue on the side of Frank's Steakhouse. Security Parking Gate at the private driveway entrance/exit, and a rear pedestrian-secured gate for access to the property. There are steps down from S Village Ave to the unit. Front entrance portico is replaced. Buyer pays transfer fee 1.5% of purchase price. Unit owns 327 shares. Heat/water/hot water/taxes/grounds care & resident super included in maintenance. PETS PERMITTED. One (1) dog with a maximum weight of 30 lbs. or one (1) cat as a pet within any residential unit. Renovation financing is suitable for this property.

Key facts

• Approved plans
• Secluded section
• Private entrance

Tags

• PRIVATE ENTRANCE
• CORNER UNIT
• SECLUDED SECTION
• PROFESSIONAL BUSINESS SPACE
• APPROVED PLANS
• NEW ELECTRIC

🏢 Co-op / cooperative unit. The $229,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $229k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $643 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $229k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 2.5% in Rockville Centre — 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 86/100 on livability (#17 in NY, #365 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, commute A+; Watch: cost of living F.
• Rockville Centre Union Free School District (suburban): math 82% / reading 82% proficiency, ranked #37 of 590 in NY (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Market conditions: 143 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 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 $2k of loan paydown is wiped out by about $7k 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 + 3.0% rent growth), your $64k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 209 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $19k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 69% 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 $201,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 209 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 1940 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.23% ✓
• Cap rate: 9.66%
• Cash-on-cash: 12.04%
• DSCR: 1.54
• GRM: 6.8

CMA / ARV

• ARV (median comp): $344,031
• List price: $229,000
• Delta: -33.44%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 1.6%
• Equity multiple: 1.06×
• Total profit: $3,894
• Equity at exit: $34,145

10-year hold

• IRR: 11.2%
• Equity multiple: 1.88×
• Total profit: $56,305
• Equity at exit: $19,800

Cash invested: $64,120 (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 11570

• Active inventory: 143
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,817 high
• Mortgage (P&I): −$1,201
• Tax est. 1.5%: −$286 /mo · $3,435/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$592
• Net cashflow: $643

Break-even live

Break-even rent $2,003

Max offer price $229,000

Occupancy floor 72%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
80 N Centre Ave Rockville Centre, NY	3.0	1.0–3.5	1254	$3,962	$3.16	1d	1	0.28mi
91 Grand Ave Rockville Centre, NY	—	1.0	523	$2,025	$3.87	43d	1	0.45mi
275 Maple Ave Apt 6D Rockville Centre, NY	2.0	1.0	673	$2,875	$4.27	24d	1	0.82mi
8 Roswell Ave Oceanside, NY	2.0	1.5	741	$3,100	$4.18	24d	1	0.91mi
108 Earle Ave Lynbrook, NY	1.0	1.0	500	$2,500	$5.00	24d	1	1.03mi
318 Earle Ave Unit 2 Lynbrook, NY	1.0	1.0	600	$2,500	$4.17	24d	1	1.17mi
157 Hempstead Ave Unit B6 Lynbrook, NY	1.0	1.0	700	$2,700	$3.86	24d	1	1.29mi

HOA detail condo

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

Listing history 12 events

1. 2026-06-02
   status $229,000 Pending 209 DOM
2. 2026-06-01
   days on market $229,000 Active 209 DOM
3. 2026-05-31
   days on market $229,000 Active 208 DOM
4. 2026-05-03
   price $229,000 1511-char remark

   Show marketing remark (1511 chars)

   Rockville Centre 1 or 2 bedroom CO-OP formerly used as professional/business space at The Elmwood House. Corner unit with a private entrance in a secluded section of the complex. It may be used as professional/business space or residential; 4 rooms plus a bathroom. $1021 monthly maintenance. Owner pays reduced rate Rockville Centre electric. A kitchen would need to be installed by new owner. Gas line is accessible in the unit. Approved plans already submitted. Heat is controlled by owner and it's a separate system for the unit. New electric & flooring. 20% down payment required, along with board approval. After 2 years owner occupancy, unit may be leased. Washer & Dryer is allowed in the unit, and a common laundry room is in the basement of the same building. Short waiting list for parking, once acquired it's $45/month. Municipal Parking Available in the lot adjacent to the rear of this property or across Lincoln Avenue on the side of Frank's Steakhouse. Security Parking Gate at the private driveway entrance/exit, and a rear pedestrian-secured gate for access to the property. There are steps down from S Village Ave to the unit. Front entrance portico is replaced. Buyer pays transfer fee 1.5% of purchase price. Unit owns 327 shares. Heat/water/hot water/taxes/grounds care & resident super included in maintenance. PETS PERMITTED. One (1) dog with a maximum weight of 30 lbs. or one (1) cat as a pet within any residential unit. Renovation financing is suitable for this property.

5. 2026-02-14
   price $235,000 1511-char remark

   Show marketing remark (1511 chars)

   Rockville Centre 1 or 2 bedroom CO-OP formerly used as professional/business space at The Elmwood House. Corner unit with a private entrance in a secluded section of the complex. It may be used as professional/business space or residential; 4 rooms plus a bathroom. $1021 monthly maintenance. Owner pays reduced rate Rockville Centre electric. A kitchen would need to be installed by new owner. Gas line is accessible in the unit. Approved plans already submitted. Heat is controlled by owner and it's a separate system for the unit. New electric & flooring. 20% down payment required, along with board approval. After 2 years owner occupancy, unit may be leased. Washer & Dryer is allowed in the unit, and a common laundry room is in the basement of the same building. Short waiting list for parking, once acquired it's $45/month. Municipal Parking Available in the lot adjacent to the rear of this property or across Lincoln Avenue on the side of Frank's Steakhouse. Security Parking Gate at the private driveway entrance/exit, and a rear pedestrian-secured gate for access to the property. There are steps down from S Village Ave to the unit. Front entrance portico is replaced. Buyer pays transfer fee 1.5% of purchase price. Unit owns 327 shares. Heat/water/hot water/taxes/grounds care & resident super included in maintenance. PETS PERMITTED. One (1) dog with a maximum weight of 30 lbs. or one (1) cat as a pet within any residential unit. Renovation financing is suitable for this property.

6. 2025-11-04
   listed $248,000 Active 1511-char remark

   Show marketing remark (1511 chars)

   Rockville Centre 1 or 2 bedroom CO-OP formerly used as professional/business space at The Elmwood House. Corner unit with a private entrance in a secluded section of the complex. It may be used as professional/business space or residential; 4 rooms plus a bathroom. $1021 monthly maintenance. Owner pays reduced rate Rockville Centre electric. A kitchen would need to be installed by new owner. Gas line is accessible in the unit. Approved plans already submitted. Heat is controlled by owner and it's a separate system for the unit. New electric & flooring. 20% down payment required, along with board approval. After 2 years owner occupancy, unit may be leased. Washer & Dryer is allowed in the unit, and a common laundry room is in the basement of the same building. Short waiting list for parking, once acquired it's $45/month. Municipal Parking Available in the lot adjacent to the rear of this property or across Lincoln Avenue on the side of Frank's Steakhouse. Security Parking Gate at the private driveway entrance/exit, and a rear pedestrian-secured gate for access to the property. There are steps down from S Village Ave to the unit. Front entrance portico is replaced. Buyer pays transfer fee 1.5% of purchase price. Unit owns 327 shares. Heat/water/hot water/taxes/grounds care & resident super included in maintenance. PETS PERMITTED. One (1) dog with a maximum weight of 30 lbs. or one (1) cat as a pet within any residential unit. Renovation financing is suitable for this property.

7. 2025-11-04
   historical

   Show marketing remark (1511 chars)

   Rockville Centre 1 or 2 bedroom CO-OP formerly used as professional/business space at The Elmwood House. Corner unit with a private entrance in a secluded section of the complex. It may be used as professional/business space or residential; 4 rooms plus a bathroom. $1021 monthly maintenance. Owner pays reduced rate Rockville Centre electric. A kitchen would need to be installed by new owner. Gas line is accessible in the unit. Approved plans already submitted. Heat is controlled by owner and it's a separate system for the unit. New electric & flooring. 20% down payment required, along with board approval. After 2 years owner occupancy, unit may be leased. Washer & Dryer is allowed in the unit, and a common laundry room is in the basement of the same building. Short waiting list for parking, once acquired it's $45/month. Municipal Parking Available in the lot adjacent to the rear of this property or across Lincoln Avenue on the side of Frank's Steakhouse. Security Parking Gate at the private driveway entrance/exit, and a rear pedestrian-secured gate for access to the property. There are steps down from S Village Ave to the unit. Front entrance portico is replaced. Buyer pays transfer fee 1.5% of purchase price. Unit owns 327 shares. Heat/water/hot water/taxes/grounds care & resident super included in maintenance. PETS PERMITTED. One (1) dog with a maximum weight of 30 lbs. or one (1) cat as a pet within any residential unit. Renovation financing is suitable for this property.

8. 2025-09-22
   price $248,000
9. 2024-11-26
   listed $270,000 Active
10. 2024-07-11
    soldstatus $245,000 Closed
11. 2024-05-06
    status Pending
12. 2024-04-08
    listed $200,000 Active

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% 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 69% 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: $33,808
• − Mortgage interest: −$12,828
• − Property taxes: −$3,435
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,705
• − Management: −$2,705
• − Depreciation: −$6,662
• Taxable income: $4,329
• Est. tax owed @ 24.0%: −$1,039
• After-tax cash flow: $6,678/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained, modernized condo is ready for immediate occupancy and can be easily upgraded to further increase its value.

Value-add opportunities

• Resale Kitchen installation — Modern kitchen will attract buyers
• Both Landscaping improvements — Enhances curb appeal and rental value
• Both Painting — Fresh paint can improve the home's appearance and value

Renovation cost estimate screening

Value-add ROI direction

• Resale Kitchen installation — Modern kitchen will attract buyers ↑
• Both Landscaping improvements — Enhances curb appeal and rental value ↑
• Both Painting — Fresh paint can improve the home's appearance and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Rockville Centre Union Free School District
• NCES district ID: 3624780
• Math proficiency: 82% ▲ 3.00%
• Reading proficiency: 82% ▲ 2.00%
• Median HH income: $102,401
• Composite: 74.33/100
• National rank: #162
• State rank: #37 of 590 in NY

Livability — Rockville Centre

• Score: 86/100
• State rank: #17
• US rank: #365

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rockville Centre, NY
• County: Nassau County · 653,051 people
• City population: 28,908
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 28,908
• Household income: $157,163
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 732.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 12% Two or more races 7% Black 5% Asian 5%
• Hispanic origin (detail): Puerto Rican 2% Dominican 4%
• Common ancestry: Romanian 4% Scotch-Irish 4% Subsaharan African 1%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 8% Other Indo-European 5% 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: ▼ -731.15%
• Current HPI: 275.9882
• 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

+14.5% since first listed

9 events — show timeline

• 2026-05-03 Price Changed $229,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-14 Price Changed $235,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-04 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-11-04 Listed $248,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-22 Price Changed $248,000 OneKey® MLS as Distributed by MLS Grid
• 2024-11-26 Listed $270,000 OneKey® MLS as Distributed by MLS Grid
• 2024-07-11 Sold (MLS) $245,000 OneKey® MLS as Distributed by MLS Grid
• 2024-05-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-04-08 Listed $200,000 OneKey® MLS as Distributed by MLS Grid