280 Atlantic Ave #310 · East Rockaway, NY 11518

$299,999

1 bd · 1.0 ba · 800 sqft · Condo · 22 Days on market

Built 1965

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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 +19.5/30.0
• ARV discount +12.2/15.0
• DSCR +6.2/10.0
• Schools +5.7/10.0
• 1% rule +5.2/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully renovated 1-bedroom, 1-bathroom co-op perfectly situated in a highly convenient location. This move-in-ready home offers a modern interior with thoughtful updates, making it an ideal choice for comfortable, easy living. Enjoy being just moments from the train, local schools, and neighborhood favorite Red Label Coffee—perfect for your daily routine. The building features a fitness center and the added convenience of laundry on every floor. Furthermore, there is a full gym and a community room on the first floor of the building to add to the reasons to love this building! Parking is available via waitlist for both indoor and outdoor spaces, and board approval is required. A fantastic opportunity to own in a well-maintained building with everything you need right at your doorstep.

Key facts

• Modern interior
• Renovated
• Fitness center

Tags

• RENOVATED
• MODERN INTERIOR
• FITNESS CENTER
• LAUNDRY ON EVERY FLOOR
• CONVENIENT LOCATION

🏢 Co-op / cooperative unit. The $299,999 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 $300k.

Deal economics

• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $295k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.0% in East Rockaway — 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 84/100 on livability (#47 in NY, #741 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: cost of living F.
• East Rockaway Union Free School District (suburban): math 61% / reading 67% proficiency, ranked #165 of 590 in NY (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 92 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 5 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 $189k; list at $300k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 71% 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 $295,499 (1.5% below list)

Questions for the listing agent

1. Built in 1965 — 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 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?
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: 1.02% ✓
• Cap rate: 7.65%
• Cash-on-cash: 4.85%
• DSCR: 1.22
• GRM: 8.2

CMA / ARV

• ARV (median comp): $335,242
• List price: $299,999
• Delta: -10.51%
• 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: -8.7%
• Equity multiple: 0.68×
• Total profit: $-26,947
• Equity at exit: $44,731

10-year hold

• IRR: 0.8%
• Equity multiple: 1.05×
• Total profit: $4,560
• Equity at exit: $25,938

Cash invested: $84,000 (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 11518

• Active inventory: 92
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $3,054 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$641
• Net cashflow: $339

Break-even live

Break-even rent $2,624

Max offer price $299,999

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24 Doxsey Pl Unit 3 Lynbrook, NY	2.0	1.0	900	$3,300	$3.67	24d	1	0.36mi
112 Atlantic Ave Apt 71 Lynbrook, NY	2.0	1.0	760	$3,000	$3.95	13d	1	0.43mi
111 S Centre Ave Apt 1SS Rockville Centre, NY	2.0	1.0	950	$3,250	$3.42	4d	1	0.88mi
318 Earle Ave Unit 2 Lynbrook, NY	1.0	1.0	600	$2,500	$4.17	24d	1	0.91mi
157 Hempstead Ave Unit B6 Lynbrook, NY	1.0	1.0	700	$2,700	$3.86	24d	1	1.00mi
65 Prospect Ave Apt 15W Lynbrook, NY	2.0	2.0	1060	$3,680	$3.47	22d	1	1.02mi
65 Prospect Ave Unit 2W Lynbrook, NY	1.0	1.0	800	$3,055	$3.82	43d	1	1.02mi
80 N Centre Ave Rockville Centre, NY	3.0	1.0–3.5	1254	$3,962	$3.16	1d	1	1.06mi
8 Roswell Ave Oceanside, NY	2.0	1.5	741	$3,100	$4.18	24d	1	1.20mi
45 Grand Ave Rockville Centre, NY	2.0	1.0	800	$3,000	$3.75	24d	1	1.39mi
55 Grand Ave Apt 2A Rockville Centre, NY	2.0	1.0	875	$3,000	$3.43	4d	1	1.40mi
8 Winthrop St Unit 2 Lynbrook, NY	1.0	1.0	600	$2,100	$3.50	43d	1	1.48mi
22 N Forest Ave Unit 3E Rockville Centre, NY	1.0	1.0	800	$2,500	$3.12	24d	1	1.48mi
67 N Prospect Ave Unit 16C Lynbrook, NY	1.0	1.0	785	$3,030	$3.86	18d	1	1.49mi

HOA detail condo

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

Listing history 13 events

1. 2026-05-14
   status Pending 826-char remark

   Show marketing remark (826 chars)

   Welcome to this beautifully renovated 1-bedroom, 1-bathroom co-op perfectly situated in a highly convenient location. This move-in-ready home offers a modern interior with thoughtful updates, making it an ideal choice for comfortable, easy living. Enjoy being just moments from the train, local schools, and neighborhood favorite Red Label Coffee—perfect for your daily routine. The building features a fitness center and the added convenience of laundry on every floor. Furthermore, there is a full gym and a community room on the first floor of the building to add to the reasons to love this building! Parking is available via waitlist for both indoor and outdoor spaces, and board approval is required. A fantastic opportunity to own in a well-maintained building with everything you need right at your doorstep.

2. 2026-04-18
   listed $299,999 Active 826-char remark

   Show marketing remark (826 chars)

   Welcome to this beautifully renovated 1-bedroom, 1-bathroom co-op perfectly situated in a highly convenient location. This move-in-ready home offers a modern interior with thoughtful updates, making it an ideal choice for comfortable, easy living. Enjoy being just moments from the train, local schools, and neighborhood favorite Red Label Coffee—perfect for your daily routine. The building features a fitness center and the added convenience of laundry on every floor. Furthermore, there is a full gym and a community room on the first floor of the building to add to the reasons to love this building! Parking is available via waitlist for both indoor and outdoor spaces, and board approval is required. A fantastic opportunity to own in a well-maintained building with everything you need right at your doorstep.

3. 2018-04-25
   soldstatus $189,000 Closed 388-char remark

   Show marketing remark (388 chars)

   Large 1 Bedroom Unit. Living Room With Dining Area, Upgraded Full Bath, Large Bedroom, Hw Floors Under Carpet, Laundry Room On Same Floor. Amenities - Community Patio, Party Room, State Of The Art Gym, Bicycle Room, Storage,Outdoor Lounge Space, Maintenance Incl. Taxes, Heat, & Water. Near Lirr, Additional information: Appearance:Mint,Interior Features:Efficiency Kitchen,Lr/Dr

4. 2018-02-09
   status Under Contract 388-char remark

   Show marketing remark (388 chars)

   Large 1 Bedroom Unit. Living Room With Dining Area, Upgraded Full Bath, Large Bedroom, Hw Floors Under Carpet, Laundry Room On Same Floor. Amenities - Community Patio, Party Room, State Of The Art Gym, Bicycle Room, Storage,Outdoor Lounge Space, Maintenance Incl. Taxes, Heat, & Water. Near Lirr, Additional information: Appearance:Mint,Interior Features:Efficiency Kitchen,Lr/Dr

5. 2018-01-11
   listed $189,000 New 388-char remark

   Show marketing remark (388 chars)

   Large 1 Bedroom Unit. Living Room With Dining Area, Upgraded Full Bath, Large Bedroom, Hw Floors Under Carpet, Laundry Room On Same Floor. Amenities - Community Patio, Party Room, State Of The Art Gym, Bicycle Room, Storage,Outdoor Lounge Space, Maintenance Incl. Taxes, Heat, & Water. Near Lirr, Additional information: Appearance:Mint,Interior Features:Efficiency Kitchen,Lr/Dr

6. 2013-11-19
   soldstatus $145,000
7. 2013-11-19
   soldstatus $145,000 Closed
8. 2013-08-12
   status Under Contract
9. 2013-04-30
   status Back On Market
10. 2013-04-03
    status Under Contract
11. 2013-03-24
    price $153,000 Price Change
12. 2013-02-22
    listed $169,000 New
13. 2013-02-21
    listed $153,000

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% 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 71% 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: $36,648
• − Mortgage interest: −$16,805
• − Property taxes: −$4,500
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,932
• − Management: −$2,932
• − Depreciation: −$8,727
• Taxable loss: −$747
• Est. tax savings @ 24.0%: +$179
• After-tax cash flow: $4,253/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: East Rockaway Union Free School District
• NCES district ID: 3609960
• Math proficiency: 61% ▲ 1.00%
• Reading proficiency: 67% ▲ 10.00%
• Median HH income: $82,326
• Composite: 57.47/100
• National rank: #1072
• State rank: #165 of 590 in NY

Livability — East Rockaway

• Score: 84/100
• State rank: #47
• US rank: #741

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Rockaway, NY
• City population: 10,390
• Population (ZIP): 10,390

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 14% Two or more races 6% Black 4% Asian 3%
• Hispanic origin (detail): Puerto Rican 2% Cuban 1% Dominican 3%
• Common ancestry: Romanian 6% Scotch-Irish 4% Italian 1%
• Foreign-born: 14% · Canada, China, Jamaica
• Languages at home: 83% English-only · Spanish 11% Chinese 2% Other Indo-European 2%

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: ▼ -573.27%
• Current HPI: 296.296
• 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

+96.1% since first listed

13 events — show timeline

• 2026-05-14 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-18 Listed $299,999 OneKey® MLS as Distributed by MLS Grid
• 2018-04-25 Sold (MLS) $189,000 OneKey® MLS as Distributed by MLS Grid
• 2018-02-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2018-01-11 Listed $189,000 OneKey® MLS as Distributed by MLS Grid
• 2013-11-19 Sold (MLS) $145,000 MLSLI
• 2013-11-19 Sold (MLS) $145,000 OneKey® MLS as Distributed by MLS Grid
• 2013-08-12 Pending — MLSLI
• 2013-04-30 Relisted — MLSLI
• 2013-04-03 Pending — MLSLI
• 2013-03-24 Price Changed $153,000 MLSLI
• 2013-02-22 Listed $169,000 MLSLI
• 2013-02-21 Listed $153,000 OneKey® MLS as Distributed by MLS Grid