185 S Middle Neck Rd Unit 1G · Thomaston, NY 11021

$259,000

1 bd · 1.0 ba · 750 sqft · Condo · 20 Days on market

Built 1960 ↓ 26% since listing

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Why this score? — see what drove the B- 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 +26.5/30.0
• DSCR +9.0/10.0
• Schools +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Light & lovely-move in ready, freshly painted 1 bedroom, 1 bath. Faces park like landscaped backyard, elevator, live in super. On floor laundry. Indoor garage parking. Beautiful lobby, Parkwood Pool Ice Skating & Tennis. Close to all Great Neck Parks including Steppingstone Park. Located near Northern Blvd, Close to LIRR, Town & Buses. , Additional information: Appearance: Very Good, Interior Features: Efficiency Kitchen, Lr/Dr.

Key facts

• Tennis
• Landscaped backyard
• Elevator

Tags

• LANDSCAPED BACKYARD
• ELEVATOR
• INDOOR GARAGE PARKING
• BEAUTIFUL LOBBY
• PARKWOOD POOL ICE SKATING
• TENNIS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $259k.

Deal economics

• At list price, monthly cash flow is $684 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• Recommended offer: $255k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#121 in NY, #1,966 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living F.
• Great Neck Union Free School District (suburban): math 86% / reading 83% proficiency, ranked #30 of 590 in NY (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: Great Neck South Middle School (math 79% / reading 81%, grade A+, #28 of 729 statewide, top 4%, 861 students, 23% FRL); Great Neck South High School (math 100% / reading 92%, grade A+, #71 of 1,100 statewide, top 7%, 1,262 students, 0% FRL) — zoned schools at 12% FRL track the district average.
• Market conditions: 201 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• This rent runs 31% of the median local income ($120k/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 $8k 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 + 3.0% rent growth), your $73k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• 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.

Recommended offer $255,115 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — 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 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?
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: 1.21% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.32%
• DSCR: 1.50
• GRM: 6.9

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: 0.6%
• Equity multiple: 1.02×
• Total profit: $1,636
• Equity at exit: $38,618

10-year hold

• IRR: 10.2%
• Equity multiple: 1.80×
• Total profit: $57,703
• Equity at exit: $22,394

Cash invested: $72,520 (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 11021

• Active inventory: 201
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $3,131 high
• Mortgage (P&I): −$1,358
• Tax est. 1.5%: −$324 /mo · $3,885/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$658
• Net cashflow: $684

Break-even live

Break-even rent $2,266

Max offer price $259,000

Occupancy floor 73%

Sensitivity live

Price	-10% $863	-5% $773	+0% $684	+5% $594	+10% $505
Rent	-10% $437	-5% $560	+0% $684	+5% $808	+10% $931
Rate	-1.0pp $814	-0.5pp $750	base $684	+0.5pp $617	+1.0pp $549

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37 Spruce St Unit 2 Great Neck, NY	2.0	1.0	900	$3,500	$3.89	45d	1	0.25mi
12 Welwyn Rd Unit 2P Great Neck Plaza, NY	2.0	1.0	795	$2,735	$3.44	45d	1	0.25mi
17 Schenck Ave Unit 3B Great Neck Plaza, NY	1.0	1.0	700	$2,295	$3.28	14d	1	0.28mi
11 Schenck Ave Unit 2D Great Neck Plaza, NY	1.0	1.0	750	$2,200	$2.93	45d	1	0.31mi
10 Canterbury Rd Great Neck, NY	1.0	1.5	796	$3,600	$4.52	0d	1	0.47mi
261 Schenck Ave Unit 1st Floor Great Neck, NY	2.0	1.0	975	$3,700	$3.79	25d	1	0.49mi
261 Schenck Ave Unit 2nd Floor Great Neck, NY	2.0	1.0	1000	$3,500	$3.50	25d	1	0.49mi
70 Knightsbridge Rd Unit 3F Great Neck Plaza, NY	2.0	1.0	850	$3,450	$4.06	45d	1	0.49mi
60 Knightsbridge Rd Unit 3F Great Neck Plaza, NY	2.0	1.0	850	$3,550	$4.18	5d	1	0.51mi
7 Bond St Unit 3J Great Neck, NY	1.0	1.0	650	$2,800	$4.31	21d	1	0.51mi
50 Knightsbridge Rd Unit 2B Great Neck Plaza, NY	2.0	1.0	850	$3,450	$4.06	5d	1	0.53mi
16 Stoner Ave Unit 2G Great Neck, NY	1.0	1.0	700	$2,800	$4.00	45d	1	0.59mi
4 Maple Dr Apt 6H Great Neck, NY	1.0	1.0	900	$2,300	$2.56	45d	1	0.60mi
141 Great Neck Rd Unit 2G Great Neck, NY	2.0	1.5	1000	$4,250	$4.25	4d	1	0.61mi
4 Chelsea Pl Apt 3F Great Neck, NY	2.0	2.0	900	$4,600	$5.11	25d	1	0.75mi
240 E Shore Rd Great Neck, NY	3.0	1.0–2.5	999	$4,803	$4.81	0d	1	0.95mi
4212 Marathon Pkwy Little Neck, NY	1.0	1.0	550	$2,375	$4.32	25d	1	1.41mi

HOA detail condo

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

Listing history 4 events

1. 2025-02-12
   status Pending
2. 2025-01-23
   listed $259,000 Active
3. 2024-12-17
   historical
4. 2024-11-07
   listed $349,000 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,576
• − Mortgage interest: −$14,508
• − Property taxes: −$3,885
• − Insurance: −$1,295
• − Repairs & maintenance: −$3,006
• − Management: −$3,006
• − Depreciation: −$7,535
• Taxable income: $4,342
• Est. tax owed @ 24.0%: −$1,042
• After-tax cash flow: $7,165/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: Great Neck Union Free School District
• NCES district ID: 3612510
• Math proficiency: 86% ▬ 0.00%
• Reading proficiency: 83% ▬ 0.00%
• Median HH income: $99,939
• Composite: 76.19/100
• National rank: #111
• State rank: #30 of 590 in NY

Livability — Thomaston

• Score: 80/100
• State rank: #121
• US rank: #1966

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thomaston, NY
• County: Nassau County · 653,051 people
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 19,783
• Household income: $120,230
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 601.0

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 0.59)
• Race & ethnicity: White 56% Asian 31% Hispanic / Latino 8% Two or more races 5% Black 1%
• Common ancestry: Scotch-Irish 5% Romanian 4% Subsaharan African 1%
• Foreign-born: 36% · China, Canada, South Korea
• Languages at home: 54% English-only · Chinese 16% Other Indo-European 10% Spanish 7%

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: ▼ -736.84%
• Current HPI: 254.751
• Rent YoY: —
• 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

-25.8% since first listed

4 events — show timeline

• 2025-02-12 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-01-23 Listed $259,000 OneKey® MLS as Distributed by MLS Grid
• 2024-12-17 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-11-07 Listed $349,000 OneKey® MLS as Distributed by MLS Grid