77 Glen Keith Rd Unit 77L · Glen Cove, NY 11542

$284,000

1 bd · 1.0 ba · 600 sqft · Condo · 57 Days on market

Built 1950

---

Why this score? — see what drove the C+ 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 +22.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.8/10.0
• Schools +4.7/10.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Highly Desired Trousdell Village! First Floor Unit, Well-Maintained One-Bedroom with Private Entrance, Entry Foyer Leads to an Open Concept, Living Room and Dining Area, a Functional Kitchen, a Large Primary Bedroom and Full Bathroom. Residents Enjoy a Range of On-Site Amenities, Including a Laundry Facility, Fitness Center, Clubhouse with Billiards, Car Wash Area, and Playground. One Assigned Parking Spot Which is Included in the Monthly Maintenance. The development is Conveniently Located Near The Sea Cliff Train Station on the Oyster Bay Line. As a Glen Cove Resident, You Will Also Have Beach & Golf Rights! Don't Miss the Opportunity to be Part of this Coop Community, a Must See!

Key facts

• Parking
• Built 1950
• Listed 56 days

🏢 Co-op / cooperative unit. The $284,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $284k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $284k).
• Recommended offer: $275k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.7% in Glen Cove — 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 65/100 on livability (#685 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: schools C-, housing C-, amenities F.
• Glen Cove City School District (suburban): math 50% / reading 55% proficiency, ranked #312 of 590 in NY (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.4%/yr); 144 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• This rent runs 39% of the median local income ($93k/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 $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 + 6.4% rent growth), your $80k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($275k) 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, 60% 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 $275,480 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.08% ✓
• Cap rate: 8.21%
• Cash-on-cash: 6.83%
• DSCR: 1.30
• GRM: 7.7

CMA / ARV

• ARV (median comp): $341,371
• List price: $284,000
• Delta: -16.81%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.43% rent growth · sell at horizon

5-year hold

• IRR: -2.0%
• Equity multiple: 0.92×
• Total profit: $-6,228
• Equity at exit: $42,345

10-year hold

• IRR: 11.1%
• Equity multiple: 2.01×
• Total profit: $79,954
• Equity at exit: $24,555

Cash invested: $79,520 (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 11542

• Rents YoY: 6.4%
• Active inventory: 144
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,057 high
• Mortgage (P&I): −$1,489
• Tax est. 1.5%: −$355 /mo · $4,260/yr
• Insurance: −$118
• HOA: −$0
• Vacancy / Maint / Mgmt: −$642
• Net cashflow: $453

Break-even live

Break-even rent $2,484

Max offer price $284,000

Occupancy floor 80%

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: $71,000
• Closing costs: $8,520
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
55 Sea Cliff Ave Sea Cliff, NY	1.0	1.0	700	$3,200	$4.57	24d	1	0.61mi
63 Wolfle St Unit 2 Glen Cove, NY	1.0	1.0	600	$1,800	$3.00	4d	1	0.62mi
15 Cherry Ln Unit A Glen Head, NY	1.0	1.0	750	$4,000	$5.33	24d	1	0.65mi
1100 Avalon Sq Glen Cove, NY	2.0	1.0–2.0	952	$3,492	$3.67	1d	1	0.67mi
100 Village Sq Glen Cove, NY	2.0	1.0–2.0	924	$4,130	$4.47	1d	4	0.83mi
350 Herb Hill Rd Glen Cove, NY	2.0	1.0–2.0	918	$4,456	$4.85	1d	5	0.91mi
12 Smith St Glen Cove, NY	2.0	1.0	650	$2,300	$3.54	20d	1	1.00mi
86 McLoughlin St Unit D Glen Cove, NY	2.0	1.0	722	$2,700	$3.74	43d	1	1.12mi

HOA detail condo

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

Listing history 16 events

1. 2026-06-18
   days on market $284,000 Active 57 DOM
2. 2026-06-17
   days on market $284,000 Active 56 DOM
3. 2026-06-16
   days on market $284,000 Active 55 DOM
4. 2026-06-15
   days on market $284,000 Active 54 DOM
5. 2026-06-13
   days on market $284,000 Active 52 DOM
6. 2026-06-13
   days on market $284,000 Active 51 DOM
7. 2026-06-09
   days on market $284,000 Active 48 DOM
8. 2026-06-08
   days on market $284,000 Active 47 DOM
9. 2026-06-07
   days on market $284,000 Active 46 DOM
10. 2026-06-04
    days on market $284,000 Active 43 DOM
11. 2026-06-03
    days on market $284,000 Active 42 DOM
12. 2026-06-02
    days on market $284,000 Active 41 DOM
13. 2026-06-01
    days on market $284,000 Active 40 DOM
14. 2026-05-31
    days on market $284,000 Active 39 DOM
15. 2026-04-23
    listed $295,000 Active 710-char remark

    Show marketing remark (710 chars)

    Welcome to the Highly Desired Trousdell Village! First Floor Unit, Well-Maintained One-Bedroom with Private Entrance, Entry Foyer Leads to an Open Concept, Living Room and Dining Area, a Functional Kitchen, a Large Primary Bedroom and Full Bathroom. Residents Enjoy a Range of On-Site Amenities, Including a Laundry Facility, Fitness Center, Clubhouse with Billiards, Car Wash Area, and Playground. One Assigned Parking Spot Which is Included in the Monthly Maintenance. The development is Conveniently Located Near The Sea Cliff Train Station on the Oyster Bay Line. As a Glen Cove Resident, You Will Also Have Beach & Golf Rights! Don't Miss the Opportunity to be Part of this Coop Community, a Must See!

16. 2026-04-19
    historical $295,000 710-char remark

    Show marketing remark (710 chars)

    Welcome to the Highly Desired Trousdell Village! First Floor Unit, Well-Maintained One-Bedroom with Private Entrance, Entry Foyer Leads to an Open Concept, Living Room and Dining Area, a Functional Kitchen, a Large Primary Bedroom and Full Bathroom. Residents Enjoy a Range of On-Site Amenities, Including a Laundry Facility, Fitness Center, Clubhouse with Billiards, Car Wash Area, and Playground. One Assigned Parking Spot Which is Included in the Monthly Maintenance. The development is Conveniently Located Near The Sea Cliff Train Station on the Oyster Bay Line. As a Glen Cove Resident, You Will Also Have Beach & Golf Rights! Don't Miss the Opportunity to be Part of this Coop Community, a Must See!

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,689
• − Mortgage interest: −$15,908
• − Property taxes: −$4,260
• − Insurance: −$1,420
• − Repairs & maintenance: −$2,935
• − Management: −$2,935
• − Depreciation: −$8,262
• Taxable income: $968
• Est. tax owed @ 24.0%: −$232
• After-tax cash flow: $5,200/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: Glen Cove City School District
• NCES district ID: 3612180
• Math proficiency: 50% ▼ -5.00%
• Reading proficiency: 55% ▲ 6.00%
• Median HH income: $70,021
• Composite: 46.76/100
• National rank: #2391
• State rank: #312 of 590 in NY

Livability — Glen Cove

• Score: 65/100
• State rank: #685
• US rank: #12441

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glen Cove, NY
• County: Nassau County · 653,051 people
• City population: 28,965
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 28,965
• Household income: $93,242
• Rent vs Own: 48.2% rent · 51.8% own
• Severe rent burden: 1667.0

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 0.57)
• Race & ethnicity: White 56% Hispanic / Latino 32% Two or more races 14% Asian 5% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Dominican 3%
• Common ancestry: Romanian 5% Scotch-Irish 2% Italian 1%
• Foreign-born: 28% · Canada, China, Jamaica
• Languages at home: 60% English-only · Spanish 27% Other Indo-European 9% Chinese 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: ▼ -377.99%
• Current HPI: 275.1903
• Rent YoY: ▲ 6.43%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-23 Listed $295,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-19 Coming Soon $295,000 OneKey® MLS as Distributed by MLS Grid