15 Hill Park Ave Unit 1C · Great Neck Plaza, NY 11021

$429,000

2 bd · 1.0 ba · 1,050 sqft · Condo · 232 Days on market

Built 1960 Excellent condition $409/sqft · 7% above area Est $401k · 7% over ↓ 14% 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).

• Cash flow +12.8/30.0
• Schools +7.6/10.0
• Condition / age +4.8/5.0
• ARV discount +4.4/15.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fully Renovated Light & Bright 2 Bedroom Corner Co-op With Sunny Balcony. Situated In Desired Immaculate Maintained Carlton. An Upscale Renovated Building. Hotel Like Entrance, Elevator, Laundry Room & 24 Hour Live In Super Who Is Greatly Valued By Carlton Habitants. All Redone Kitchen With Quartz Counters, White Cabinets & Ss Appliances. Brand New Spa Bathroom. Crown Molding Throughout. Designated Dining Area. Primary Bedroom With Walk In Closets. Sprawling Living Space Leads To Balcony. Hi Hats Throughout. Outdoor & Indoor Parking Assigned. Right Near LIRR & N20 Bus, Near Town With Renowned Great Neck South SD. Restaurants, Shops And So Much More In Great Necks Magical Town. Monthly Fees Included In Real Estate Tax's., Additional information: Appearance: Diamond, Interior Features: Efficiency Kitchen, Lr/Dr Maintenance $1.397.46, and an Assessment of $299.25 Until March 2028

Key facts

• Renovated building
• Spa bathroom
• Walk in closets

Tags

• RENOVATED BUILDING
• REDONE KITCHEN
• SPA BATHROOM
• DESIGNATED DINING AREA
• WALK IN CLOSETS
• SPRAWLING LIVING SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $429k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-40 ($-480/yr) — negative.
• To cash-flow at today's rent, offer at most $423k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $370k (13.7% below list).
• Recommended offer: $370k (13.7% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.4% in Great Neck Plaza — 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 85/100 on livability (#35 in NY, #551 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living F.
• Great Neck Union Free School District (suburban): math 86% / reading 83% proficiency, ranked #30 of 590 in NY (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Market conditions: 200 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 37% of the median local income ($120k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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 232 days — a 12% lower offer ($378k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $46k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $370,222 (13.7% 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 232 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — 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 B-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: 0.86% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.40%
• DSCR: 0.98
• GRM: 9.7

CMA / ARV

• ARV (median comp): $401,460
• List price: $429,000
• Delta: 6.86%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -16.9%
• Equity multiple: 0.40×
• Total profit: $-72,006
• Equity at exit: $63,965

10-year hold

• IRR: -8.8%
• Equity multiple: 0.45×
• Total profit: $-65,753
• Equity at exit: $37,092

Cash invested: $120,120 (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 11021

• Active inventory: 200
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $3,702 high
• Mortgage (P&I): −$2,250
• Tax est. 1.5%: −$536 /mo · $6,435/yr
• Insurance: −$179
• HOA: −$0
• Vacancy / Maint / Mgmt: −$777
• Net cashflow: $-40

Break-even live

Break-even rent $3,753

Max offer price $423,216

Occupancy floor 96%

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: $107,250
• Closing costs: $12,870
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17 Schenck Ave Unit 3B Great Neck Plaza, NY	1.0	1.0	700	$2,295	$3.28	13d	1	0.05mi
11 Schenck Ave Unit 2D Great Neck Plaza, NY	1.0	1.0	750	$2,200	$2.93	43d	1	0.06mi
55 S Middle Neck Rd Unit 4C Great Neck, NY	2.0	2.0	1200	$4,600	$3.83	43d	1	0.06mi
130 S Middle Neck Rd #2 Great Neck, NY	3.0	2.0	1500	$4,300	$2.87	1d	1	0.09mi
12 Welwyn Rd Unit 2P Great Neck Plaza, NY	2.0	1.0	795	$2,735	$3.44	44d	1	0.12mi
70 Knightsbridge Rd Unit 3F Great Neck Plaza, NY	2.0	1.0	850	$3,450	$4.06	43d	1	0.32mi
60 Knightsbridge Rd Unit 3F Great Neck Plaza, NY	2.0	1.0	850	$3,550	$4.18	4d	1	0.33mi
50 Knightsbridge Rd Unit 2B Great Neck Plaza, NY	2.0	1.0	850	$3,450	$4.06	4d	1	0.34mi
4 Maple Dr Apt 6H Great Neck, NY	1.0	1.0	900	$2,300	$2.56	43d	1	0.35mi
16 Stoner Ave Unit 2G Great Neck, NY	1.0	1.0	700	$2,800	$4.00	43d	1	0.36mi
15 Prospect St Unit 2FL Great Neck, NY	3.0	3.0	1350	$4,950	$3.67	16d	1	0.39mi
141 Great Neck Rd Unit 2G Great Neck, NY	2.0	1.5	1000	$4,250	$4.25	2d	1	0.41mi
141 Great Neck Rd Unit 3A Great Neck, NY	2.0	2.5	1490	$4,800	$3.22	18d	1	0.41mi
88 Cuttermill Rd #518 Great Neck, NY	2.0	2.5	1360	$4,980	$3.66	43d	1	0.46mi
37 Spruce St Unit 2 Great Neck, NY	2.0	1.0	900	$3,500	$3.89	43d	1	0.46mi
4 Chelsea Pl Unit 3D Great Neck, NY	2.0	2.0	1200	$4,700	$3.92	43d	1	0.55mi
4 Chelsea Pl Apt 3F Great Neck, NY	2.0	2.0	900	$4,600	$5.11	24d	1	0.55mi
100 Cuttermill Rd Great Neck, NY	1.0–2.0	1.5–2.5	1200	$5,500	$4.58	24d	1	0.57mi
261 Schenck Ave Unit 2nd Floor Great Neck, NY	2.0	1.0	1000	$3,500	$3.50	24d	1	0.66mi
261 Schenck Ave Unit 1st Floor Great Neck, NY	2.0	1.0	975	$3,700	$3.79	24d	1	0.66mi
267 Schenck Ave Great Neck, NY	3.0	1.5	1400	$3,950	$2.82	24d	1	0.70mi
218 Middle Neck Rd #313 Great Neck, NY	2.0	2.0	1189	$6,300	$5.30	7d	1	0.85mi
4623 Arcadia Ln Great Neck, NY	3.0	1.0	1480	$4,700	$3.18	43d	1	0.91mi
240 E Shore Rd Great Neck, NY	3.0	1.0–2.5	999	$5,250	$5.26	1d	1	0.94mi
4141 Little Neck Pkwy #3 Little Neck, NY	2.0	2.0	1350	$3,000	$2.22	24d	1	1.29mi
6 Highland Ter Manhasset, NY	3.0	3.0	1400	$6,500	$4.64	43d	1	1.30mi
632 Middle Neck Rd Unit 2nd Floor Great Neck, NY	3.0	1.0	1400	$3,600	$2.57	2d	1	1.40mi
14 Beach Rd Unit 3B Great Neck, NY	2.0	1.0	850	$3,500	$4.12	18d	1	1.42mi
14 Beach Rd Unit 3A Great Neck, NY	2.0	1.0	1000	$3,400	$3.40	10d	1	1.42mi

HOA detail condo

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

Listing history 26 events

1. 2026-06-18
   days on market $429,000 Active 232 DOM
2. 2026-06-17
   days on market $429,000 Active 231 DOM
3. 2026-06-16
   days on market $429,000 Active 230 DOM
4. 2026-06-15
   days on market $429,000 Active 229 DOM
5. 2026-06-13
   days on market $429,000 Active 227 DOM
6. 2026-06-09
   days on market $429,000 Active 223 DOM
7. 2026-06-08
   days on market $429,000 Active 222 DOM
8. 2026-06-07
   days on market $429,000 Active 221 DOM
9. 2026-06-04
   days on market $429,000 Active 218 DOM
10. 2026-06-03
    days on market $429,000 Active 217 DOM
11. 2026-06-02
    days on market $429,000 Active 216 DOM
12. 2026-06-01
    days on market $429,000 Active 215 DOM
13. 2026-05-31
    days on market $429,000 Active 214 DOM
14. 2026-05-15
    price $429,000 910-char remark

    Show marketing remark (910 chars)

    Fully Renovated Light & Bright 2 Bedroom Corner Co-op With Sunny Balcony. Situated In Desired Immaculate Maintained Carlton. An Upscale Renovated Building. Hotel Like Entrance, Elevator, Laundry Room & 24 Hour Live In Super Who Is Greatly Valued By Carlton Habitants. All Redone Kitchen With Quartz Counters, White Cabinets & Ss Appliances. Brand New Spa Bathroom. Crown Molding Throughout. Designated Dining Area. Primary Bedroom With Walk In Closets. Sprawling Living Space Leads To Balcony. Hi Hats Throughout. Outdoor & Indoor Parking Assigned. Right Near LIRR & N20 Bus, Near Town With Renowned Great Neck South SD. Restaurants, Shops And So Much More In Great Necks Magical Town. Monthly Fees Included In Real Estate Tax's., Additional information: Appearance: Diamond, Interior Features: Efficiency Kitchen, Lr/Dr Maintenance $1.397.46, and an Assessment of $299.25 Until March 2028

15. 2026-03-26
    price $440,000 910-char remark

    Show marketing remark (910 chars)

    Fully Renovated Light & Bright 2 Bedroom Corner Co-op With Sunny Balcony. Situated In Desired Immaculate Maintained Carlton. An Upscale Renovated Building. Hotel Like Entrance, Elevator, Laundry Room & 24 Hour Live In Super Who Is Greatly Valued By Carlton Habitants. All Redone Kitchen With Quartz Counters, White Cabinets & Ss Appliances. Brand New Spa Bathroom. Crown Molding Throughout. Designated Dining Area. Primary Bedroom With Walk In Closets. Sprawling Living Space Leads To Balcony. Hi Hats Throughout. Outdoor & Indoor Parking Assigned. Right Near LIRR & N20 Bus, Near Town With Renowned Great Neck South SD. Restaurants, Shops And So Much More In Great Necks Magical Town. Monthly Fees Included In Real Estate Tax's., Additional information: Appearance: Diamond, Interior Features: Efficiency Kitchen, Lr/Dr Maintenance $1.397.46, and an Assessment of $299.25 Until March 2028

16. 2026-01-02
    price $465,000 910-char remark

    Show marketing remark (910 chars)

    Fully Renovated Light & Bright 2 Bedroom Corner Co-op With Sunny Balcony. Situated In Desired Immaculate Maintained Carlton. An Upscale Renovated Building. Hotel Like Entrance, Elevator, Laundry Room & 24 Hour Live In Super Who Is Greatly Valued By Carlton Habitants. All Redone Kitchen With Quartz Counters, White Cabinets & Ss Appliances. Brand New Spa Bathroom. Crown Molding Throughout. Designated Dining Area. Primary Bedroom With Walk In Closets. Sprawling Living Space Leads To Balcony. Hi Hats Throughout. Outdoor & Indoor Parking Assigned. Right Near LIRR & N20 Bus, Near Town With Renowned Great Neck South SD. Restaurants, Shops And So Much More In Great Necks Magical Town. Monthly Fees Included In Real Estate Tax's., Additional information: Appearance: Diamond, Interior Features: Efficiency Kitchen, Lr/Dr Maintenance $1.397.46, and an Assessment of $299.25 Until March 2028

17. 2025-10-29
    listed $475,000 Active 910-char remark

    Show marketing remark (910 chars)

    Fully Renovated Light & Bright 2 Bedroom Corner Co-op With Sunny Balcony. Situated In Desired Immaculate Maintained Carlton. An Upscale Renovated Building. Hotel Like Entrance, Elevator, Laundry Room & 24 Hour Live In Super Who Is Greatly Valued By Carlton Habitants. All Redone Kitchen With Quartz Counters, White Cabinets & Ss Appliances. Brand New Spa Bathroom. Crown Molding Throughout. Designated Dining Area. Primary Bedroom With Walk In Closets. Sprawling Living Space Leads To Balcony. Hi Hats Throughout. Outdoor & Indoor Parking Assigned. Right Near LIRR & N20 Bus, Near Town With Renowned Great Neck South SD. Restaurants, Shops And So Much More In Great Necks Magical Town. Monthly Fees Included In Real Estate Tax's., Additional information: Appearance: Diamond, Interior Features: Efficiency Kitchen, Lr/Dr Maintenance $1.397.46, and an Assessment of $299.25 Until March 2028

18. 2025-07-31
    status Pending
19. 2025-07-30
    historical
20. 2025-07-14
    status Active
21. 2025-07-14
    listed $468,000 Active
22. 2025-07-14
    historical
23. 2025-03-29
    status Pending
24. 2025-03-29
    historical
25. 2024-12-02
    price $474,888
26. 2024-09-19
    listed $499,999 Active

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°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 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,427
• − Mortgage interest: −$24,031
• − Property taxes: −$6,435
• − Insurance: −$2,145
• − Repairs & maintenance: −$3,554
• − Management: −$3,554
• − Depreciation: −$12,480
• Taxable loss: −$7,772
• Est. tax savings @ 24.0%: +$1,865
• After-tax cash flow: $1,386/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.

Condition & rehab AI · 1 photo

Excellent 95/100 None rehab

This fully renovated 2-bedroom corner co-op is in excellent condition with no visible repairs needed. It offers a high-end living experience with a spa bathroom and upscale amenities.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value
• Both Interior paint touch-up — Maintains fresh look and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Interior paint touch-up — Maintains fresh look and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Great Neck Union Free School District
• NCES district ID: 3612510
• Math proficiency: 86% ▬ 0.00%
• Reading proficiency: 83% ▬ 0.00%
• Median HH income: $99,939
• Composite: 76.19/100
• National rank: #111
• State rank: #30 of 590 in NY

Livability — Great Neck Plaza

• Score: 85/100
• State rank: #35
• US rank: #551

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: Great Neck Plaza, NY
• County: Nassau County · 653,051 people
• City population: 19,474
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 19,783
• Household income: $120,230
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 601.0

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 0.59)
• Race & ethnicity: White 56% Asian 31% Hispanic / Latino 8% Two or more races 5% Black 1%
• Common ancestry: Scotch-Irish 5% Romanian 4% Subsaharan African 1%
• Foreign-born: 36% · China, Canada, South Korea
• Languages at home: 54% English-only · Chinese 16% Other Indo-European 10% Spanish 7%

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: ▼ -736.84%
• Current HPI: 254.751
• 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

-14.2% since first listed

13 events — show timeline

• 2026-05-15 Price Changed $429,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-26 Price Changed $440,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-02 Price Changed $465,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-29 Listed $475,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-31 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-07-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-07-14 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-07-14 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-07-14 Listed $468,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-29 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-03-29 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-12-02 Price Changed $474,888 OneKey® MLS as Distributed by MLS Grid
• 2024-09-19 Listed $499,999 OneKey® MLS as Distributed by MLS Grid