175 Main Ave #149 · Wheatley Heights, NY 11798

$249,000

1 bd · 1.0 ba · 933 sqft · Condo · 14 Days on market

Built 1974

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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 +19.4/30.0
• ARV discount +7.5/15.0
• Schools +7.2/10.0
• DSCR +6.1/10.0
• 1% rule +5.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Credit Scores must be above 700, DP 10% Required,Lower Level Unit, Additional information: Appearance:Diamond,Business Located At:,Interior Features:Combo Kitchen,Lr/Dr,Rental Income:

Key facts

• Updated kitchen
• Electric stove
• Cherrywood cabinets

Tags

• UPDATED KITCHEN
• CHERRYWOOD CABINETS
• ELECTRIC STOVE
• STAINLESS STEEL APPLIANCES
• NEWLY INSTALLED WINDOWS

Property features AI

Exterior

• Parking: Parking lot
• Utilities: Electricity connected (PSEG); Natural gas connected; Water connected; Sewer: Cesspool; Cable connected; Phone connected; Public trash collection
• Home design: Stock cooperative
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Refrigerator
• Bedrooms: Includes a first-floor bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: First-floor bedroom; Formal dining room; Entry level: 1

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $249k.

Deal economics

• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).

Location & tenants

• Location reads 75/100 on livability (#275 in NY, #4,351 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: amenities F, cost of living F, health & safety D-.
• Half Hollow Hills Central School District (suburban): math 79% / reading 75% proficiency, ranked #41 of 590 in NY (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: Signal Hill Elementary School (math 75% / reading 74%, grade A, #314 of 2,108 statewide, top 17%, 643 students, 17% FRL); West Hollow Middle School (math 71% / reading 69%, grade A, #86 of 729 statewide, top 12%, 969 students, 22% FRL); Half Hollow Hills High School East (math 95% / reading 92%, grade A+, #131 of 1,100 statewide, top 13%, 1,473 students, 23% FRL).
• Market conditions: 82 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,366 units permitted in Suffolk County in 2024 (216 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 $7k of value loss. Plan a longer hold.
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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 $156k; list at $249k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 63% 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 $249,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.01% ✓
• Cap rate: 7.62%
• Cash-on-cash: 4.75%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -8.9%
• Equity multiple: 0.67×
• Total profit: $-22,746
• Equity at exit: $37,127

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $2,966
• Equity at exit: $21,529

Cash invested: $69,720 (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 11798

• Active inventory: 82
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,527 medium
• Mortgage (P&I): −$1,306
• Tax est. 1.5%: −$311 /mo · $3,735/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$531
• Net cashflow: $276

Break-even live

Break-even rent $2,178

Max offer price $249,000

Occupancy floor 84%

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 Colonial Springs Rd Wheatley Heights, NY	1.0	1.0	616	$2,280	$3.70	13d	5	0.35mi
31 Perry Ln Wheatley Heights, NY	2.0	1.0	1000	$2,850	$2.85	24d	1	0.64mi

HOA detail condo

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

Listing history 5 events

1. 2026-04-15
   status Pending
2. 2026-03-31
   listed $249,000 Active
3. 2020-02-28
   soldstatus $156,000 Closed 183-char remark

   Show marketing remark (183 chars)

   Credit Scores must be above 700, DP 10% Required,Lower Level Unit, Additional information: Appearance:Diamond,Business Located At:,Interior Features:Combo Kitchen,Lr/Dr,Rental Income:

4. 2019-12-22
   status Under Contract 183-char remark

   Show marketing remark (183 chars)

   Credit Scores must be above 700, DP 10% Required,Lower Level Unit, Additional information: Appearance:Diamond,Business Located At:,Interior Features:Combo Kitchen,Lr/Dr,Rental Income:

5. 2019-09-23
   listed $159,900 New 183-char remark

   Show marketing remark (183 chars)

   Credit Scores must be above 700, DP 10% Required,Lower Level Unit, Additional information: Appearance:Diamond,Business Located At:,Interior Features:Combo Kitchen,Lr/Dr,Rental Income:

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,328
• − Mortgage interest: −$13,948
• − Property taxes: −$3,735
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,426
• − Management: −$2,426
• − Depreciation: −$7,244
• Taxable loss: −$696
• Est. tax savings @ 24.0%: +$167
• After-tax cash flow: $3,477/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: Half Hollow Hills Central School District
• NCES district ID: 3613290
• Math proficiency: 79% ▲ 1.00%
• Reading proficiency: 75% ▲ 5.00%
• Median HH income: $120,022
• Composite: 71.89/100
• National rank: #215
• State rank: #41 of 590 in NY

Livability — Wheatley Heights

• Score: 75/100
• State rank: #275
• US rank: #4351

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wheatley Heights, NY

Population outlook (Suffolk County) Hauer SSP2

• Today (2025): 1,505,262 people
• By 2030: 1,498,318 · -0.5%
• By 2040: 1,471,101 · -2.3%
• By 2050: 1,424,848 · -5.3%
• By 2075: 1,337,157 · -11.2%
• By 2100: 1,217,720 · -19.1%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: ▼ -296.70%
• Current HPI: 285.1922
• 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

+55.7% since first listed

5 events — show timeline

• 2026-04-15 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-31 Listed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2020-02-28 Sold (MLS) $156,000 OneKey® MLS as Distributed by MLS Grid
• 2019-12-22 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-09-23 Listed $159,900 OneKey® MLS as Distributed by MLS Grid