390 Locust Ave · Uniondale, NY 11553

$550,000

6 bd · 2.0 ba · 1,120 sqft · SingleFamily public records · 27 Days on market

Built 1947 4,000 sqft lot Est $578k · at est.

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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).

• Cash flow +12.1/30.0
• ARV discount +9.7/15.0
• Schools +5.8/10.0
• Livability +3.9/5.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Hurry in to see this Beautifully Meticulously Maintained Cape Home with beautiful curbside appeal, new roof, siding and windows. Amazing location- minutes from parks, schools, shopping, dining and public transportation.

Key facts

• Full gut renovation
• Finished basement
• Airports

Tags

• FULL GUT RENOVATION
• FINISHED BASEMENT
• OUTSIDE SEPARATE ENTRANCE
• MAJOR PARKWAYS
• SHOPPING
• AIRPORTS

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public sewer; Electricity connected; Natural gas available
• Home design: Single-family residence; Living area reported by appraiser
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: No appliances listed
• Bedrooms: At least one bedroom on the first floor
• Bathrooms: 3 full bathrooms
• Heating & cooling: Natural gas heating; No central air listed
• Interior features: First-floor bedroom; Full basement with walk-out access; Partial attic
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $550k.

Deal economics

• At list price, monthly cash flow is $-125 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $528k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $467k (15.1% below list).
• Recommended offer: $467k (15.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.0% in Uniondale — 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 78/100 on livability (#152 in NY, #2,360 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: crime C-, cost of living F.
• Uniondale Union Free School District (suburban): math 59% / reading 70% proficiency, ranked #164 of 590 in NY (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: California Avenue Elementary School (math 24% / reading 24%, grade F, #1,846 of 2,108 statewide, top 91%, 663 students, 63% FRL); Lawrence Road Middle School (math 12% / reading 37%, grade F, #611 of 729 statewide, top 88%, 682 students, 65% FRL); Uniondale High School (math 83% / reading 90%, grade A, #336 of 1,100 statewide, top 31%, 2,080 students, 62% FRL).
• Zoned-school proficiency averages 45% at this address vs 64% district-wide (-19 pts) — the specific schools serving this property underperform the Uniondale Union Free School District average; the district grade overstates school quality for this exact location.
• Market conditions: 54 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $4k of loan paydown is wiped out by about $16k 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.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($542k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $405k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 53% 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 $466,833 (15.1% 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 1947 — 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. 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?
5. 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.
6. 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.
7. 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: 0.85% ✗
• Cap rate: 6.02%
• Cash-on-cash: -0.97%
• DSCR: 0.96
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $577,920
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
384 Emerson Pl	0.06mi	6/3.0	1,100 (-2%)	13mo	$751,000	$683	79
147 Ruxton St	0.52mi	5/2.0 (-1)	1,260 (+12%)	5mo	$650,000	$516	46
1048 Midland St	0.38mi	5/3.0 (-1)	1,288 (+15%)	22mo	$660,000	$512	30

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

Projected returns pro-forma

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

5-year hold

• IRR: -17.9%
• Equity multiple: 0.37×
• Total profit: $-97,009
• Equity at exit: $82,007

10-year hold

• IRR: -10.0%
• Equity multiple: 0.39×
• Total profit: $-94,410
• Equity at exit: $47,554

Cash invested: $154,000 (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 11553

• Active inventory: 54
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $4,668 medium
• Mortgage (P&I): −$2,884
• Tax from tax record: −$700 /mo · $8,395/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$980
• Net cashflow: $-125

Break-even live

Break-even rent $4,827

Max offer price $527,914

Occupancy floor 98%

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
363 Clarendon Rd Uniondale, NY	7.0	3.0	1434	$5,500	$3.84	43d	1	0.71mi

Listing history 23 events

1. 2026-06-18
   days on market $550,000 Active 27 DOM
2. 2026-06-17
   days on market $550,000 Active 26 DOM
3. 2026-06-16
   days on market $550,000 Active 25 DOM
4. 2026-06-15
   days on market $550,000 Active 24 DOM
5. 2026-06-13
   days on market $550,000 Active 22 DOM
6. 2026-06-13
   days on market $550,000 Active 21 DOM
7. 2026-06-09
   days on market $550,000 Active 18 DOM
8. 2026-06-08
   days on market $550,000 Active 17 DOM
9. 2026-06-07
   days on market $550,000 Active 16 DOM
10. 2026-06-04
    days on market $550,000 Active 13 DOM
11. 2026-06-03
    days on market $550,000 Active 12 DOM
12. 2026-06-02
    days on market $550,000 Active 11 DOM
13. 2026-06-01
    days on market $550,000 Active 10 DOM
14. 2026-05-31
    days on market $550,000 Active 9 DOM
15. 2026-05-20
    listed $550,000 Active
16. 2026-04-01
    soldstatus $405,000
17. 2025-10-27
    historical
18. 2025-10-07
    listed $649,000 Active
19. 2020-11-23
    soldstatus $458,350
20. 2020-11-06
    soldstatus $445,000 Closed 219-char remark

    Show marketing remark (219 chars)

    Hurry in to see this Beautifully Meticulously Maintained Cape Home with beautiful curbside appeal, new roof, siding and windows. Amazing location- minutes from parks, schools, shopping, dining and public transportation.

21. 2020-07-30
    listed $425,000 Active 219-char remark

    Show marketing remark (219 chars)

    Hurry in to see this Beautifully Meticulously Maintained Cape Home with beautiful curbside appeal, new roof, siding and windows. Amazing location- minutes from parks, schools, shopping, dining and public transportation.

22. 2000-05-09
    soldstatus $170,000
23. 1977-08-01
    soldstatus $38,000

ⓘ 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: $8,395 · $700/mo
• Projected year-2 tax: $8,845 · $737/mo
• Expected delta: +$450/yr (+$38/mo · 5.4%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 53% 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: $56,020
• − Mortgage interest: −$30,809
• − Property taxes: −$8,395
• − Insurance: −$2,750
• − Repairs & maintenance: −$4,482
• − Management: −$4,482
• − Depreciation: −$16,000
• Taxable loss: −$10,897
• Est. tax savings @ 24.0%: +$2,615
• After-tax cash flow: $1,115/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: Uniondale Union Free School District
• NCES district ID: 3629280
• Math proficiency: 59% ▲ 8.00%
• Reading proficiency: 70% ▲ 17.00%
• Median HH income: $78,596
• Composite: 57.5/100
• National rank: #1071
• State rank: #164 of 590 in NY

Livability — Uniondale

• Score: 78/100
• State rank: #152
• US rank: #2360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Uniondale, NY
• County: Nassau County · 653,051 people
• City population: 27,875
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 27,875
• Household income: $121,127
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 673.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Hispanic / Latino 44% Black 43% Two or more races 15% White 8% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 2%
• Common ancestry: Hispanic 5%
• Foreign-born: 39% · Canada, Jamaica
• Languages at home: 49% English-only · Spanish 41% French/Haitian/Cajun 6% Other Indo-European 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: ▼ -318.80%
• Current HPI: 351.7828
• 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

+1347.4% since first listed

9 events — show timeline

• 2026-05-20 Listed $550,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-01 Sold (Public Records) $405,000 Public Records
• 2025-10-27 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-10-07 Listed $649,000 OneKey® MLS as Distributed by MLS Grid
• 2020-11-23 Sold (Public Records) $458,350 Public Records
• 2020-11-06 Sold (MLS) $445,000 OneKey® MLS as Distributed by MLS Grid
• 2020-07-30 Listed $425,000 OneKey® MLS as Distributed by MLS Grid
• 2000-05-09 Sold (Public Records) $170,000 Public Records
• 1977-08-01 Sold (Public Records) $38,000 Public Records

Property tax history

+1.9%/yr

Latest (2024): $8,395 · +7.5% YoY. Source: county tax records.