1201 E Broadway Unit H-23 · Hewlett, NY 11557

$299,000

3 bd · 2.0 ba · 1,300 sqft · Condo · 105 Days on market

Built 1960 $230/sqft · 41% below area Est $507k · 41% under

---

Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Schools +7.0/10.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this spacious 3-bedroom, 2 full bath co-op in desirable Garden Town, Hewlett. This bright and inviting second-floor residence features beautiful hardwood floors throughout, central air, and an updated kitchen with stainless steel appliances. A large private terrace extends your living space, complemented by abundant storage throughout the home and the convenience of an in-unit washer and dryer. The meticulously landscaped grounds are beautifully maintained, providing a serene and welcoming setting. Ideally located near transportation, restaurants, shopping, and houses of worship, this co-op combines comfort, style, and everyday convenience in one exceptional opportunity.

Key facts

• Private terrace
• Updated kitchen
• Central air

Tags

• HARDWOOD FLOORS
• CENTRAL AIR
• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• PRIVATE TERRACE
• ABUNDANT STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $299k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• Recommended offer: $272k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 2.7% in Hewlett — 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 89/100 on livability (#7 in NY, #165 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: cost of living F.
• Hewlett-Woodmere Union Free School District (suburban): math 72% / reading 79% proficiency, ranked #59 of 590 in NY (top 10%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: 71 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $9k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 13y ago; this cycle's ask has dropped $19k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk; major wind risk, 70% 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 $272,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
9. 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.
10. 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: 1.47% ✓
• Cap rate: 11.91%
• Cash-on-cash: 20.07%
• DSCR: 1.89
• GRM: 5.7

CMA / ARV

• ARV (median comp): $506,547
• List price: $299,000
• Delta: -40.97%
• 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: 11.2%
• Equity multiple: 1.45×
• Total profit: $37,289
• Equity at exit: $44,582

10-year hold

• IRR: 20.3%
• Equity multiple: 2.71×
• Total profit: $143,154
• Equity at exit: $25,852

Cash invested: $83,720 (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 11557

• Active inventory: 71
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $4,388 high
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$921
• Net cashflow: $1,345

Break-even live

Break-even rent $2,686

Max offer price $299,000

Occupancy floor 64%

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 Franklin Ave Hewlett, NY	4.0	2.0	1386	$6,500	$4.69	1d	1	0.38mi
363 Hewlett Pkwy Hewlett, NY	3.0	1.5	1205	$4,200	$3.49	24d	1	0.50mi
227 Franklin Pl Woodmere, NY	3.0	1.0	950	$3,400	$3.58	43d	1	0.55mi
19 Dartmouth St Valley Stream, NY	3.0	3.5	1439	$4,600	$3.20	1d	1	0.98mi
127 Gordon Rd Valley Stream, NY	3.0	1.0	1200	$3,350	$2.79	43d	1	1.01mi
510 Dubois Ave Apt 3C Valley Stream, NY	2.0	1.5	1050	$3,400	$3.24	43d	1	1.04mi
65 Prospect Ave Apt 15W Lynbrook, NY	2.0	2.0	1060	$3,680	$3.47	22d	1	1.16mi
61 Hollywood Ave Lynbrook, NY	2.0	1.0	1825	$3,000	$1.64	43d	1	1.17mi
66 Kenmore Rd Valley Stream, NY	2.0	1.0	1525	$2,950	$1.93	18d	1	1.24mi
757 Chestnut St Unit 1st Fl Cedarhurst, NY	2.0	2.0	1200	$4,195	$3.50	1d	1	1.28mi
26 Starks Pl Lynbrook, NY	3.0	1.5	1822	$3,850	$2.11	1d	1	1.32mi
120 Maple Ave Unit 2nd FLOOR Cedarhurst, NY	3.0	2.0	1150	$4,275	$3.72	11d	1	1.38mi

HOA detail condo

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

Listing history 30 events

1. 2026-06-18
   days on market $299,000 Active 105 DOM
2. 2026-06-17
   pricedays on market $299,000 Active 104 DOM
3. 2026-06-16
   days on market $310,000 Active 103 DOM
4. 2026-06-15
   days on market $310,000 Active 102 DOM
5. 2026-06-13
   days on market $310,000 Active 100 DOM
6. 2026-06-13
   days on market $310,000 Active 99 DOM
7. 2026-06-09
   days on market $310,000 Active 96 DOM
8. 2026-06-08
   days on market $310,000 Active 95 DOM
9. 2026-06-07
   days on market $310,000 Active 94 DOM
10. 2026-06-04
    days on market $310,000 Active 91 DOM
11. 2026-06-03
    days on market $310,000 Active 90 DOM
12. 2026-06-02
    days on market $310,000 Active 89 DOM
13. 2026-06-01
    days on market $310,000 Active 88 DOM
14. 2026-05-31
    days on market $310,000 Active 87 DOM
15. 2026-03-05
    listed $318,000 Active 691-char remark

    Show marketing remark (691 chars)

    Welcome to this spacious 3-bedroom, 2 full bath co-op in desirable Garden Town, Hewlett. This bright and inviting second-floor residence features beautiful hardwood floors throughout, central air, and an updated kitchen with stainless steel appliances. A large private terrace extends your living space, complemented by abundant storage throughout the home and the convenience of an in-unit washer and dryer. The meticulously landscaped grounds are beautifully maintained, providing a serene and welcoming setting. Ideally located near transportation, restaurants, shopping, and houses of worship, this co-op combines comfort, style, and everyday convenience in one exceptional opportunity.

16. 2018-08-30
    soldstatus $285,000 Closed 326-char remark

    Show marketing remark (326 chars)

    All New Top Of The Line 3 Bedroom, 2 Bath Large Apartment Features Open Floor Plan With Brand New Granite Kitchen With Stainless Steel Appliances, 2 New Bathrooms, New Wood Floors, Terrace, Washer/Dryer, All New Plumbing And Electric. 2nd Floor, Additional information: Appearance:Aaa Mint,Interior Features:Efficiency Kitchen

17. 2018-06-11
    status Under Contract 326-char remark

    Show marketing remark (326 chars)

    All New Top Of The Line 3 Bedroom, 2 Bath Large Apartment Features Open Floor Plan With Brand New Granite Kitchen With Stainless Steel Appliances, 2 New Bathrooms, New Wood Floors, Terrace, Washer/Dryer, All New Plumbing And Electric. 2nd Floor, Additional information: Appearance:Aaa Mint,Interior Features:Efficiency Kitchen

18. 2018-06-04
    status Listing Extended 326-char remark

    Show marketing remark (326 chars)

    All New Top Of The Line 3 Bedroom, 2 Bath Large Apartment Features Open Floor Plan With Brand New Granite Kitchen With Stainless Steel Appliances, 2 New Bathrooms, New Wood Floors, Terrace, Washer/Dryer, All New Plumbing And Electric. 2nd Floor, Additional information: Appearance:Aaa Mint,Interior Features:Efficiency Kitchen

19. 2018-06-04
    historical 326-char remark

    Show marketing remark (326 chars)

    All New Top Of The Line 3 Bedroom, 2 Bath Large Apartment Features Open Floor Plan With Brand New Granite Kitchen With Stainless Steel Appliances, 2 New Bathrooms, New Wood Floors, Terrace, Washer/Dryer, All New Plumbing And Electric. 2nd Floor, Additional information: Appearance:Aaa Mint,Interior Features:Efficiency Kitchen

20. 2018-02-06
    price $299,000 326-char remark

    Show marketing remark (326 chars)

    All New Top Of The Line 3 Bedroom, 2 Bath Large Apartment Features Open Floor Plan With Brand New Granite Kitchen With Stainless Steel Appliances, 2 New Bathrooms, New Wood Floors, Terrace, Washer/Dryer, All New Plumbing And Electric. 2nd Floor, Additional information: Appearance:Aaa Mint,Interior Features:Efficiency Kitchen

21. 2017-11-01
    listed $329,000 New 326-char remark

    Show marketing remark (326 chars)

    All New Top Of The Line 3 Bedroom, 2 Bath Large Apartment Features Open Floor Plan With Brand New Granite Kitchen With Stainless Steel Appliances, 2 New Bathrooms, New Wood Floors, Terrace, Washer/Dryer, All New Plumbing And Electric. 2nd Floor, Additional information: Appearance:Aaa Mint,Interior Features:Efficiency Kitchen

22. 2017-10-31
    historical
23. 2017-09-27
    price $349,000
24. 2017-08-25
    listed $379,000 New
25. 2015-09-30
    historical
26. 2015-04-15
    listed $99,000
27. 2015-02-28
    historical
28. 2014-09-16
    listed $99,990
29. 2014-07-23
    historical
30. 2013-03-24
    listed $158,000

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,656
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$2,162
• − Repairs & maintenance: −$4,212
• − Management: −$4,212
• − Depreciation: −$8,698
• Taxable income: $12,137
• Est. tax owed @ 24.0%: −$2,913
• After-tax cash flow: $13,223/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: Hewlett-Woodmere Union Free School District
• NCES district ID: 3631710
• Math proficiency: 72% ▼ -7.00%
• Reading proficiency: 79% ▼ -3.00%
• Median HH income: $112,656
• Composite: 69.89/100
• National rank: #287
• State rank: #59 of 590 in NY

Livability — Hewlett

• Score: 89/100
• State rank: #7
• US rank: #165

Category grades

Amenities A+ 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: Hewlett, NY
• Population (ZIP): 8,503

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 (74%)
• Race & ethnicity: White 74% Asian 9% Hispanic / Latino 8% Black 6% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Scotch-Irish 5% Romanian 4% Danish 2%
• Foreign-born: 19% · Canada, Vietnam, China
• Languages at home: 74% English-only · Russian/Polish/Slavic 6% Spanish 6% Other Indo-European 4%

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: ▼ -218.62%
• Current HPI: 273.9904
• 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

+101.3% since first listed

16 events — show timeline

• 2026-03-05 Listed $318,000 OneKey® MLS as Distributed by MLS Grid
• 2018-08-30 Sold (MLS) $285,000 OneKey® MLS as Distributed by MLS Grid
• 2018-06-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2018-06-04 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2018-06-04 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-02-06 Price Changed $299,000 OneKey® MLS as Distributed by MLS Grid
• 2017-11-01 Listed $329,000 OneKey® MLS as Distributed by MLS Grid
• 2017-10-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-09-27 Price Changed $349,000 OneKey® MLS as Distributed by MLS Grid
• 2017-08-25 Listed $379,000 OneKey® MLS as Distributed by MLS Grid
• 2015-09-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-04-15 Listed $99,000 OneKey® MLS as Distributed by MLS Grid
• 2015-02-28 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-09-16 Listed $99,990 OneKey® MLS as Distributed by MLS Grid
• 2014-07-23 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-03-24 Listed $158,000 OneKey® MLS as Distributed by MLS Grid