64 West Ave

Woodmere, NY 11559

$729,000C-

4 bd · 1.5 ba · 1,439 sqft · Built 1930 · SingleFamily · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,322/mo
• Mortgage (P&I): −$3,823
• Tax + insurance: −$1,195
• HOA: −$0
• Vac / Maint / Mgmt: −$1,118
• Net cashflow: $-814/mo
• Annual: $-9,763/yr
• Cap rate: 5.66%
• Cash-on-cash: -2.28%
• DSCR: 0.90
• 1% rule: 0.73%
• Cash to close: $204,120

Investor read

• This is a 4-bed/1.5-bath single-family listed at $729k.
• At list price, monthly cash flow is $-814 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $585k (19.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $532k (27.0% below list).
• It's been on market 58 days — a 3% lower offer ($707k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $532k (27.0% below list) — sets the bar for 1% rule.
• In year one you build about $78k of equity ($5k loan paydown + $73k appreciation (10.0% local appreciation)).
• Location reads 82/100 on livability (#76 in NY, #1,189 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: cost of living F.
• Lawrence Union Free School District (suburban): math 43% / reading 46% proficiency, ranked #399 of 590 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $427/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 53 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 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.
• 5 sale attempts since 11y ago 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 $415k; list at $729k implies a 76% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$125k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 72% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.7% vs local median 2.4% in Woodmere — 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.

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 58 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.