28 Cumberland Ave

Roosevelt, NY 11575

$345,000C

3 bd · 1.0 ba · 1,050 sqft · Built 1959 · SingleFamily · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,912/mo
• Mortgage (P&I): −$1,809
• Tax + insurance: −$843
• HOA: −$0
• Vac / Maint / Mgmt: −$821
• Net cashflow: $438/mo
• Annual: $5,255/yr
• Cap rate: 7.82%
• Cash-on-cash: 5.44%
• DSCR: 1.24
• 1% rule: 1.13%
• Cash to close: $96,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $345k.
• At list price, monthly cash flow is $438 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $345k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#307 in NY) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: crime D+, amenities F, cost of living F.
• Roosevelt Union Free School District (suburban): math 28% / reading 45% proficiency, ranked #529 of 590 in NY (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington Rose School (math 12% / reading 22%, grade F, #2,011 of 2,108 statewide, top 96%, 637 students, 54% FRL); Roosevelt Middle School (math 12% / reading 27%, grade F, #685 of 729 statewide, top 94%, 455 students, 0% FRL); Roosevelt High School (math 65% / reading 78%, grade B+, #698 of 1,100 statewide, top 63%, 1,075 students, 59% FRL) — zoned schools average 38% FRL vs 58% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 52 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 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.
• 2 sale attempts since 4y 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 $120k; list at $345k implies a 188% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 72% 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.
• Cap rate 7.8% vs local median 4.0% in Roosevelt — 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

• Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.