16 Deepdale Pkwy

Albertson, NY 11577

$1,199,000C+

4 bd · 3.5 ba · 2,534 sqft · Built 1947 · SingleFamily · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $11,669/mo
• Mortgage (P&I): −$6,288
• Tax + insurance: −$1,862
• HOA: −$0
• Vac / Maint / Mgmt: −$2,450
• Net cashflow: $1,069/mo
• Annual: $12,831/yr
• Cap rate: 7.36%
• Cash-on-cash: 3.82%
• DSCR: 1.17
• 1% rule: 0.97%
• Cash to close: $335,720

Investor read

• This is a 4-bed/3.5-bath single-family listed at $1.20M.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.17M (2.7% below list).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $1.17M (2.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $8k of loan paydown is wiped out by about $36k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#224 in NY, #3,486 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, commute A; Watch: amenities D, cost of living F.
• Herricks Union Free School District (suburban): math 86% / reading 84% proficiency, ranked #26 of 590 in NY (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical; only 5% free/reduced lunch — higher-income household profile.
• Zoned schools: Herricks Middle School (math 76% / reading 84%, grade A+, #28 of 729 statewide, top 4%, 1,079 students, 17% FRL); Herricks High School (math 100% / reading 82%, grade A+, #226 of 1,100 statewide, top 21%, 1,433 students, 18% FRL).
• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 71 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• Nassau County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 13y 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 $390k; list at $1.20M implies a 207% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 52% 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.

Questions for listing agent

• Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.