366 Stewart Ave Unit C4 · Garden City, NY 11530

$639,000

2 bd · 1.0 ba · 1,083 sqft · Condo · 72 Days on market

Built 1950 $590/sqft · 21% below area Est $811k · 21% under ↓ 2% since listing

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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 +8.2/10.0
• Cash flow +6.3/30.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0
• DSCR +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This sun-drenched and inviting top-floor corner two-bedroom apartment offers exceptional space, comfort, and privacy in a centrally located Garden City co-op elevator building. Perfectly positioned overlooking Stewart Avenue and Franklin Avenue, the home is filled with natural light throughout the day. Beautiful hardwood floors run throughout, complementing a spacious living room with a dedicated dining area—ideal for both everyday living and entertaining. The kitchen features a separate breakfast area and presents a great opportunity for customization to suit your personal style. Both generously sized bedrooms offer abundant closet space and versatility. Ideally located just moments from the vibrant restaurants, cafes, and boutique shopping along Seventh Street and Franklin Avenue, and conveniently close to the LIRR station, this unit provides an effortless commute and the best of Garden City living.

Key facts

• Top-floor corner
• Elevator building
• Hardwood floors

Tags

• TOP-FLOOR CORNER
• ELEVATOR BUILDING
• HARDWOOD FLOORS
• DEDICATED DINING AREA
• BREAKFAST AREA
• ABUNDANT CLOSET SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $639k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $476k (25.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $417k (34.8% below list).
• Recommended offer: $417k (34.8% below list) — sets the bar for 1% rule.
• Cap rate 4.2% vs local median 2.2% in Garden City — 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 84/100 on livability (#45 in NY, #695 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A+, employment A+; Watch: cost of living F.
• Garden City Union Free School District (suburban): math 89% / reading 84% proficiency, ranked #16 of 590 in NY (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 1% free/reduced lunch — higher-income household profile.
• Market conditions: 134 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $4k of loan paydown is wiped out by about $19k 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 72 days — a 6% lower offer ($601k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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.

Recommended offer $416,829 (34.8% 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. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.65% ✗
• Cap rate: 4.18%
• Cash-on-cash: -7.53%
• DSCR: 0.66
• GRM: 12.8

CMA / ARV

• ARV (median comp): $810,546
• List price: $639,000
• Delta: -21.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -29.4%
• Equity multiple: 0.02×
• Total profit: $-175,009
• Equity at exit: $95,277

10-year hold

• IRR: -30.0%
• Equity multiple: -0.37×
• Total profit: $-244,242
• Equity at exit: $55,249

Cash invested: $178,920 (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 11530

• Active inventory: 134
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $4,168 high
• Mortgage (P&I): −$3,351
• Tax est. 1.5%: −$799 /mo · $9,585/yr
• Insurance: −$266
• HOA: −$0
• Vacancy / Maint / Mgmt: −$875
• Net cashflow: $-1,123

Break-even live

Break-even rent $5,590

Max offer price $476,495

Occupancy floor —

Sensitivity live

Price	-10% $-681	-5% $-902	+0% $-1,123	+5% $-1,344	+10% $-1,565
Rent	-10% $-1,452	-5% $-1,288	+0% $-1,123	+5% $-958	+10% $-794
Rate	-1.0pp $-801	-0.5pp $-961	base $-1,123	+0.5pp $-1,289	+1.0pp $-1,457

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: $159,750
• Closing costs: $19,170
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
365 Stewart Ave Garden City, NY	1.0–2.0	1.0–2.0	1034	$4,985	$4.82	2d	1	0.11mi
44 Hilton Ave Unit A3 Garden City, NY	2.0	1.0	1148	$2,954	$2.57	16d	1	0.38mi
44 Hilton Ave Unit C2 Garden City, NY	2.0	1.0	1345	$2,750	$2.04	11d	1	0.38mi
303 Main St Hempstead, NY	1.0–2.0	1.0–2.0	1029	$4,326	$4.20	2d	7	0.70mi
20 Wendell St Apt 11A Hempstead, NY	2.0	1.0	800	$2,950	$3.69	14d	1	0.81mi
31-33 Burr Ave Hempstead, NY	3.0	1.0	700	$3,500	$5.00	44d	1	0.92mi
140 Old Country Rd Mineola, NY	1.0–2.0	1.0–2.0	912	$5,114	$5.61	2d	13	0.96mi
1 3rd Ave Mineola, NY	1.0–2.0	1.0–2.0	1140	$5,895	$5.17	2d	5	1.00mi
1 3rd St Unit 1033 Mineola, NY	1.0	1.0	700	$3,900	$5.57	44d	1	1.02mi
1 3rd St Unit 1025 Mineola, NY	1.0	1.0	1150	$4,850	$4.22	19d	1	1.02mi
1 3rd St Unit 921 Mineola, NY	1.0	1.0	700	$3,750	$5.36	44d	1	1.02mi
254 Stewart Ave Unit 2C Hempstead, NY	1.0	1.0	800	$2,350	$2.94	3d	1	1.02mi
80 Old Country Rd Mineola, NY	3.0	2.0	1400	$3,200	$2.29	25d	1	1.03mi
2 Vanata Ct Hempstead, NY	3.0	1.0	1024	$3,800	$3.71	25d	1	1.14mi
162 2nd St Unit 4 Mineola, NY	2.0	1.0	750	$3,600	$4.80	13d	1	1.15mi
78 Roslyn Rd Unit 202 Mineola, NY	1.0	1.0	1050	$2,950	$2.81	5d	1	1.18mi
343 Jackson St Unit 1 Hempstead, NY	2.0	2.0	1000	$3,300	$3.30	44d	1	1.20mi
343 Jackson St Unit 3 Hempstead, NY	2.0	1.5	1000	$3,300	$3.30	25d	1	1.20mi
36 Hilton Ave Unit 306 Hempstead, NY	1.0	1.0	1003	$2,350	$2.34	16d	1	1.22mi
36 Hilton Ave Unit 108 Hempstead, NY	1.0	2.0	1135	$2,850	$2.51	22d	1	1.22mi
2 Laurel Dr Mineola, NY	2.0	1.0–2.0	641	$3,495	$5.45	2d	15	1.23mi
147 Main St Unit 3B Mineola, NY	1.0	1.0	1100	$3,300	$3.00	44d	1	1.25mi
119 Searing Ave Mineola, NY	2.0	1.0–2.0	946	$5,135	$5.43	2d	13	1.29mi
101 Searing Ave Unit 210 Mineola, NY	1.0	1.0	1085	$4,900	$4.52	44d	1	1.30mi
101 Searing Ave Unit 410 Mineola, NY	1.0	1.0	1155	$4,900	$4.24	11d	1	1.30mi
101 Searing Ave Unit 502 Mineola, NY	1.0	1.0	998	$4,400	$4.41	11d	1	1.30mi
101 Searing Ave Unit 307 Mineola, NY	2.0	2.0	1499	$6,500	$4.34	11d	1	1.30mi
101 Searing Ave Unit 301 Mineola, NY	1.0	1.0	1093	$4,600	$4.21	44d	1	1.30mi
222 Cleveland Ave Mineola, NY	3.0	1.0	1100	$4,000	$3.64	2d	1	1.31mi
116 Searing Ave Unit PHN418 Mineola, NY	1.0	1.0	831	$4,215	$5.07	6d	1	1.32mi
116 Searing Ave Unit N322 Mineola, NY	2.0	2.0	1100	$4,435	$4.03	3d	1	1.32mi
184 Cleveland Ave Mineola, NY	3.0	1.5	1473	$4,700	$3.19	44d	1	1.32mi
116 Searing Ave Unit PHS407 Mineola, NY	2.0	2.0	1297	$4,835	$3.73	2d	1	1.32mi
101 Clinton Ave Unit 1G Mineola, NY	1.0	1.0	750	$2,500	$3.33	44d	1	1.37mi
160 Garfield Ave Unit 1 Mineola, NY	2.0	1.0	1000	$3,450	$3.45	14d	1	1.37mi
100 Lincoln Ave Apt 14A Mineola, NY	1.0	1.0	900	$2,998	$3.33	25d	1	1.48mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-18
   days on market $639,000 Active 72 DOM
2. 2026-06-17
   days on market $639,000 Active 71 DOM
3. 2026-06-16
   days on market $639,000 Active 70 DOM
4. 2026-06-15
   days on market $639,000 Active 69 DOM
5. 2026-06-13
   days on market $639,000 Active 67 DOM
6. 2026-06-09
   days on market $639,000 Active 63 DOM
7. 2026-06-08
   days on market $639,000 Active 62 DOM
8. 2026-06-07
   days on market $639,000 Active 61 DOM
9. 2026-06-04
   days on market $639,000 Active 58 DOM
10. 2026-06-03
    days on market $639,000 Active 57 DOM
11. 2026-06-02
    days on market $639,000 Active 56 DOM
12. 2026-06-01
    days on market $639,000 Active 55 DOM
13. 2026-05-31
    days on market $639,000 Active 54 DOM
14. 2026-04-27
    price $639,000 920-char remark

    Show marketing remark (920 chars)

    This sun-drenched and inviting top-floor corner two-bedroom apartment offers exceptional space, comfort, and privacy in a centrally located Garden City co-op elevator building. Perfectly positioned overlooking Stewart Avenue and Franklin Avenue, the home is filled with natural light throughout the day. Beautiful hardwood floors run throughout, complementing a spacious living room with a dedicated dining area—ideal for both everyday living and entertaining. The kitchen features a separate breakfast area and presents a great opportunity for customization to suit your personal style. Both generously sized bedrooms offer abundant closet space and versatility. Ideally located just moments from the vibrant restaurants, cafes, and boutique shopping along Seventh Street and Franklin Avenue, and conveniently close to the LIRR station, this unit provides an effortless commute and the best of Garden City living.

15. 2026-03-20
    listed $649,000 Active 920-char remark

    Show marketing remark (920 chars)

    This sun-drenched and inviting top-floor corner two-bedroom apartment offers exceptional space, comfort, and privacy in a centrally located Garden City co-op elevator building. Perfectly positioned overlooking Stewart Avenue and Franklin Avenue, the home is filled with natural light throughout the day. Beautiful hardwood floors run throughout, complementing a spacious living room with a dedicated dining area—ideal for both everyday living and entertaining. The kitchen features a separate breakfast area and presents a great opportunity for customization to suit your personal style. Both generously sized bedrooms offer abundant closet space and versatility. Ideally located just moments from the vibrant restaurants, cafes, and boutique shopping along Seventh Street and Franklin Avenue, and conveniently close to the LIRR station, this unit provides an effortless commute and the best of Garden City living.

ⓘ 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 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 · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $50,019
• − Mortgage interest: −$35,794
• − Property taxes: −$9,585
• − Insurance: −$3,195
• − Repairs & maintenance: −$4,002
• − Management: −$4,002
• − Depreciation: −$18,589
• Taxable loss: −$25,147
• Est. tax savings @ 24.0%: +$6,035
• After-tax cash flow: $-7,441/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: Garden City Union Free School District
• NCES district ID: 3611760
• Math proficiency: 89% ▲ 3.00%
• Reading proficiency: 84% ▲ 6.00%
• Median HH income: $147,057
• Composite: 82.35/100
• National rank: #33
• State rank: #16 of 590 in NY

Livability — Garden City

• Score: 84/100
• State rank: #45
• US rank: #695

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Garden City, NY
• County: Nassau County · 653,051 people
• City population: 27,939
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 27,939
• Household income: $228,143
• Rent vs Own: 10.1% rent · 89.9% own
• Severe rent burden: 329.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Asian 6% Black 1%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 4% Danish 1% Lithuanian 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 87% English-only · Other Indo-European 4% Spanish 4% Chinese 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: ▼ -738.90%
• Current HPI: 274.0981
• 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

-1.5% since first listed

2 events — show timeline

• 2026-04-27 Price Changed $639,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-20 Listed $649,000 OneKey® MLS as Distributed by MLS Grid