170 Manhasset Woods Rd

Munsey Park, NY 11030

$3,198,000D-

4 bd · 3.5 ba · 3,425 sqft · Built 1933 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $14,987/mo
• Mortgage (P&I): −$16,771
• Tax + insurance: −$3,348
• HOA: −$0
• Vac / Maint / Mgmt: −$3,147
• Net cashflow: $-8,279/mo
• Annual: $-99,350/yr
• Cap rate: 3.19%
• Cash-on-cash: -11.10%
• DSCR: 0.51
• 1% rule: 0.47%
• Cash to close: $895,440

Investor read

• This is a 4-bed/3.5-bath single-family listed at $3.20M.
• At list price, monthly cash flow is $-8k ($-99k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.74M (45.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.50M (53.1% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $1.50M (53.1% below list) — sets the bar for 1% rule.
• In year one you build about $194k of equity ($22k loan paydown + $172k appreciation (5.4% local appreciation)).
• Location reads 76/100 on livability (#223 in NY, #3,484 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: amenities D+, cost of living F.
• Manhasset Union Free School District (suburban): math 86% / reading 84% proficiency, ranked #8 of 590 in NY (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 4% free/reduced lunch — higher-income household profile.
• Zoned schools: Munsey Park Elementary School (math 82% / reading 87%, grade A+, #93 of 2,108 statewide, top 6%, 863 students, 7% FRL); Manhasset Middle School (math 84% / reading 79%, grade A+, #22 of 729 statewide, top 3%, 521 students, 6% FRL); Manhasset Secondary School (math 100% / reading 87%, grade A+, #141 of 1,100 statewide, top 13%, 962 students, 8% FRL) — zoned schools at 7% FRL track the district average.
• Watch-outs: built in 1933 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 118 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.
• Current owner paid $850k; list at $3.20M implies a 276% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$311k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.

Questions for listing agent

• 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?
• Built in 1933 — 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 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?
• 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?
• 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.