45 Locust Pl · Manhasset, NY 11030

$1,449,000

3 bd · 2.0 ba · 1,930 sqft · SingleFamily public records · 16 Days on market

Built 1925 6,150 sqft lot $751/sqft · 19% below area Est $1779k · 19% 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 +15.0/15.0
• Schools +8.3/10.0
• Appreciation +7.7/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +2.3/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

This pristine, beautifully renovated 3-bedroom, 2 full bath Colonial is conveniently located close to town, LIRR, shops, restaurants, parks, and schools. The first floor features a sleek new EIK w/large center island, living room/dining room with wood burning fireplace that leads into a large sunny great room with built-ins, skylight and sliding glass doors that open to large deck and fenced yard. The first floor also has a full bath and laundry. The second floor has 3 bedrooms and a full bath. Pull-down attic for storage along with large basement. New furnace and hot water heater. Hardwood floors, CAC, oil heat, gas cooking, one car garage and long driveway that can accommodate 4 cars.

Key facts

• 6,150 sq ft lot
• Garage
• Built 1925

Property features AI

Exterior

• Parking: Detached garage (1 car); No carport
• Utilities: Cesspool sewer; Public trash collection
• Home design: Single family residence; Living area reported from public records
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: 6 total rooms (bedroom count not specified)
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Oil heating; Central air conditioning; 1 fireplace
• Interior features: Open floorplan; Full basement with storage attic
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $1.45M.

Deal economics

• At list price, monthly cash flow is $-5k ($-62k/yr) — negative.
• To cash-flow at today's rent, offer at most $537k (62.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $543k (62.5% below list).
• Recommended offer: $537k (62.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 82/100 on livability (#78 in NY, #1,199 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities C-, cost of living F.
• Manhasset Union Free School District (suburban): math 86% / reading 84% proficiency, ranked #8 of 590 in NY (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 4% free/reduced lunch — higher-income household profile.
• Zoned schools: Shelter Rock Elementary School (math 85% / reading 82%, grade A+, #128 of 2,108 statewide, top 6%, 651 students, 0% FRL); Manhasset Middle School (math 84% / reading 79%, grade A+, #22 of 729 statewide, top 3%, 521 students, 6% FRL); Manhasset Secondary School (math 100% / reading 87%, grade A+, #141 of 1,100 statewide, top 13%, 962 students, 8% FRL) — zoned schools at 5% FRL track the district average.
• Market conditions: 118 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).

Forward outlook

• In year one you build about $88k of equity ($10k loan paydown + $78k appreciation (5.4% local appreciation)).
• Nassau County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$141k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($1.43M) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $537,375 (62.9% 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. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 0.37% ✗
• Cap rate: 2.02%
• Cash-on-cash: -15.26%
• DSCR: 0.32
• GRM: 22.2

CMA / ARV

• ARV (median comp): $1,778,786
• List price: $1,449,000
• Delta: -18.54%
• 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
71 Beechwood Ave	0.43mi	3/2.0	1,830 (-5%)	1mo	$1,750,000	$956	70
49 George St	0.39mi	3/2.5	1,967 (+2%)	9mo	$1,780,000	$905	69
54 Summit Dr	0.17mi	4/2.5 (+1)	1,755 (-9%)	2mo	$1,675,000	$954	68
90 Gaynor Ave	0.26mi	3/2.5	2,127 (+10%)	6mo	$1,452,000	$683	64
170 Hillcrest Ave	0.47mi	3/1.5	1,862 (-4%)	9mo	$1,705,000	$916	63
22 Andover Ln	0.16mi	3/3.5	1,691 (-12%)	7mo	$1,650,000	$976	60
44 Old Ox Rd	0.66mi	3/2.5	1,846 (-4%)	3mo	$2,000,000	$1,083	58
300 Bayview Ave	0.43mi	4/2.0 (+1)	1,794 (-7%)	7mo	$1,270,000	$708	57
174 Ryder Rd	0.59mi	3/3.5	1,976 (+2%)	11mo	$2,500,174	$1,265	53
17 Pinewood Rd	0.56mi	4/3.5 (+1)	1,830 (-5%)	5mo	$2,000,000	$1,093	50
34 Foxhurst Ln	0.75mi	3/2.5	2,124 (+10%)	9mo	$2,340,000	$1,102	39
9 Robin Rd	0.47mi	4/3.0 (+1)	2,177 (+13%)	11mo	$1,820,000	$836	38

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

Projected returns pro-forma

5.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.4%
• Equity multiple: 1.09×
• Total profit: $36,761
• Equity at exit: $854,882

10-year hold

• IRR: 4.7%
• Equity multiple: 1.94×
• Total profit: $380,894
• Equity at exit: $1,504,103

Cash invested: $405,720 (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 11030

• Home prices YoY: 1.9%
• Active inventory: 118
• Price-to-rent: 22.2×

Monthly cashflow live

• Estimated rent: $5,427 high
• Mortgage (P&I): −$7,599
• Tax from tax record: −$1,246 /mo · $14,947/yr
• Insurance: −$604
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,140
• Net cashflow: $-5,161

Break-even live

Break-even rent $11,960

Max offer price $537,375

Occupancy floor —

Sensitivity live

Price	-10% $-4,340	-5% $-4,750	+0% $-5,161	+5% $-5,571	+10% $-5,981
Rent	-10% $-5,589	-5% $-5,375	+0% $-5,161	+5% $-4,946	+10% $-4,732
Rate	-1.0pp $-4,431	-0.5pp $-4,792	base $-5,161	+0.5pp $-5,536	+1.0pp $-5,918

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: $362,250
• Closing costs: $43,470
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 Highland Ter Manhasset, NY	3.0	3.0	1400	$6,500	$4.64	44d	1	0.12mi
17 Myrtle St Unit 2nd Manhasset, NY	2.0	1.0	1650	$3,500	$2.12	44d	1	0.13mi
72 Highland Ter Manhasset, NY	4.0	2.0	2216	$6,400	$2.89	44d	1	0.23mi
71 Orchard St Manhasset, NY	2.0	2.5	1596	$6,600	$4.14	25d	1	0.24mi
240 E Shore Rd Great Neck, NY	3.0	1.0–2.5	999	$5,730	$5.74	2d	1	0.55mi
109 Chase Rd Manhasset, NY	3.0	1.5	1392	$7,350	$5.28	44d	1	0.77mi
28 Vista Hill Rd Great Neck, NY	3.0	2.0	1700	$5,500	$3.24	2d	1	0.83mi
267 Schenck Ave Great Neck, NY	3.0	1.5	1400	$3,950	$2.82	25d	1	0.94mi
14 Linden St Great Neck, NY	2.0	2.0	1980	$3,750	$1.89	3d	1	1.12mi
15 Prospect St Unit 2FL Great Neck, NY	3.0	3.0	1350	$4,950	$3.67	17d	1	1.16mi
100 Hicks Ln Great Neck, NY	3.0	2.5	1963	$5,300	$2.70	44d	1	1.35mi
130 S Middle Neck Rd #2 Great Neck, NY	3.0	2.0	1500	$4,300	$2.87	2d	1	1.47mi

Listing history 16 events

1. 2026-05-14
   listed $1,449,000 Active 869-char remark
2. 2026-05-13
   historical $1,449,000 869-char remark
3. 2025-05-29
   soldstatus $1,320,000
4. 2025-05-14
   soldstatus $1,320,000 Closed 701-char remark

   Show marketing remark (701 chars)

   This pristine, beautifully renovated 3-bedroom, 2 full bath Colonial is conveniently located close to town, LIRR, shops, restaurants, parks, and schools. The first floor features a sleek new EIK w/large center island, living room/dining room with wood burning fireplace that leads into a large sunny great room with built-ins, skylight and sliding glass doors that open to large deck and fenced yard. The first floor also has a full bath and laundry. The second floor has 3 bedrooms and a full bath. Pull-down attic for storage along with large basement. New furnace and hot water heater. Hardwood floors, CAC, oil heat, gas cooking, one car garage and long driveway that can accommodate 4 cars.

5. 2025-03-05
   status Pending 701-char remark

   Show marketing remark (701 chars)

   This pristine, beautifully renovated 3-bedroom, 2 full bath Colonial is conveniently located close to town, LIRR, shops, restaurants, parks, and schools. The first floor features a sleek new EIK w/large center island, living room/dining room with wood burning fireplace that leads into a large sunny great room with built-ins, skylight and sliding glass doors that open to large deck and fenced yard. The first floor also has a full bath and laundry. The second floor has 3 bedrooms and a full bath. Pull-down attic for storage along with large basement. New furnace and hot water heater. Hardwood floors, CAC, oil heat, gas cooking, one car garage and long driveway that can accommodate 4 cars.

6. 2025-01-21
   price $1,388,000 701-char remark

   Show marketing remark (701 chars)

   This pristine, beautifully renovated 3-bedroom, 2 full bath Colonial is conveniently located close to town, LIRR, shops, restaurants, parks, and schools. The first floor features a sleek new EIK w/large center island, living room/dining room with wood burning fireplace that leads into a large sunny great room with built-ins, skylight and sliding glass doors that open to large deck and fenced yard. The first floor also has a full bath and laundry. The second floor has 3 bedrooms and a full bath. Pull-down attic for storage along with large basement. New furnace and hot water heater. Hardwood floors, CAC, oil heat, gas cooking, one car garage and long driveway that can accommodate 4 cars.

7. 2025-01-21
   status Active 701-char remark

   Show marketing remark (701 chars)

   This pristine, beautifully renovated 3-bedroom, 2 full bath Colonial is conveniently located close to town, LIRR, shops, restaurants, parks, and schools. The first floor features a sleek new EIK w/large center island, living room/dining room with wood burning fireplace that leads into a large sunny great room with built-ins, skylight and sliding glass doors that open to large deck and fenced yard. The first floor also has a full bath and laundry. The second floor has 3 bedrooms and a full bath. Pull-down attic for storage along with large basement. New furnace and hot water heater. Hardwood floors, CAC, oil heat, gas cooking, one car garage and long driveway that can accommodate 4 cars.

8. 2025-01-10
   historical 701-char remark

   Show marketing remark (701 chars)

   This pristine, beautifully renovated 3-bedroom, 2 full bath Colonial is conveniently located close to town, LIRR, shops, restaurants, parks, and schools. The first floor features a sleek new EIK w/large center island, living room/dining room with wood burning fireplace that leads into a large sunny great room with built-ins, skylight and sliding glass doors that open to large deck and fenced yard. The first floor also has a full bath and laundry. The second floor has 3 bedrooms and a full bath. Pull-down attic for storage along with large basement. New furnace and hot water heater. Hardwood floors, CAC, oil heat, gas cooking, one car garage and long driveway that can accommodate 4 cars.

9. 2024-12-16
   listed $1,399,000 Active 701-char remark

   Show marketing remark (701 chars)

   This pristine, beautifully renovated 3-bedroom, 2 full bath Colonial is conveniently located close to town, LIRR, shops, restaurants, parks, and schools. The first floor features a sleek new EIK w/large center island, living room/dining room with wood burning fireplace that leads into a large sunny great room with built-ins, skylight and sliding glass doors that open to large deck and fenced yard. The first floor also has a full bath and laundry. The second floor has 3 bedrooms and a full bath. Pull-down attic for storage along with large basement. New furnace and hot water heater. Hardwood floors, CAC, oil heat, gas cooking, one car garage and long driveway that can accommodate 4 cars.

10. 2024-12-05
    historical $1,399,000 701-char remark

    Show marketing remark (701 chars)

    This pristine, beautifully renovated 3-bedroom, 2 full bath Colonial is conveniently located close to town, LIRR, shops, restaurants, parks, and schools. The first floor features a sleek new EIK w/large center island, living room/dining room with wood burning fireplace that leads into a large sunny great room with built-ins, skylight and sliding glass doors that open to large deck and fenced yard. The first floor also has a full bath and laundry. The second floor has 3 bedrooms and a full bath. Pull-down attic for storage along with large basement. New furnace and hot water heater. Hardwood floors, CAC, oil heat, gas cooking, one car garage and long driveway that can accommodate 4 cars.

11. 2023-05-30
    historical
12. 2016-01-04
    historical
13. 2015-12-14
    listed $899,000
14. 2009-09-14
    soldstatus $660,000
15. 1988-10-12
    soldstatus $199,500
16. 1987-09-15
    soldstatus $260,000

ⓘ 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: $14,947 · $1,246/mo
• Projected year-2 tax: $19,717 · $1,643/mo
• Expected delta: +$4,771/yr (+$398/mo · 31.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $65,127
• − Mortgage interest: −$81,167
• − Property taxes: −$14,947
• − Insurance: −$7,245
• − Repairs & maintenance: −$5,210
• − Management: −$5,210
• − Depreciation: −$42,153
• Taxable loss: −$90,804
• Est. tax savings @ 24.0%: +$21,793
• After-tax cash flow: $-40,133/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: Manhasset Union Free School District
• NCES district ID: 3618270
• Math proficiency: 86% ▬ 0.00%
• Reading proficiency: 84% ▲ 2.00%
• Median HH income: $166,795
• Composite: 82.99/100
• National rank: #17
• State rank: #8 of 590 in NY

Livability — Manhasset

• Score: 82/100
• State rank: #78
• US rank: #1199

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manhasset, NY
• City population: 17,703
• Population (ZIP): 17,703

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 (67%)
• Race & ethnicity: White 67% Asian 20% Hispanic / Latino 8% Two or more races 7% Black 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 5% Scotch-Irish 3% Italian 2%
• Foreign-born: 18% · China, South Korea, Canada
• Languages at home: 74% English-only · Chinese 9% Other Indo-European 8% Korean 3%

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: ▲ 5.38%
• Current HPI: 288.8947
• Rent YoY: —
• Metro: —
• 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

+457.3% since first listed

17 events — show timeline

• 2026-05-29 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-05-14 Listed $1,449,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-13 Coming Soon $1,449,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-29 Sold (Public Records) $1,320,000 Public Records
• 2025-05-14 Sold (MLS) $1,320,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-05 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-01-21 Price Changed $1,388,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-21 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-01-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-12-16 Listed $1,399,000 OneKey® MLS as Distributed by MLS Grid
• 2024-12-05 Coming Soon $1,399,000 OneKey® MLS as Distributed by MLS Grid
• 2023-05-30 Rental Removed — ONEKEY
• 2016-01-04 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-12-14 Listed $899,000 OneKey® MLS as Distributed by MLS Grid
• 2009-09-14 Sold (Public Records) $660,000 Public Records
• 1988-10-12 Sold (Public Records) $199,500 Public Records
• 1987-09-15 Sold (Public Records) $260,000 Public Records

Property tax history

+2.1%/yr

Latest (2024): $14,947 · +6.5% YoY. Source: county tax records.