370 W Broadway Unit 4Y · Long Beach, NY 11561

$389,900

1 bd · 1.0 ba · 600 sqft · Condo · 44 Days on market

Built 1965 $650/sqft · 17% below area Est $472k · 17% under

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Schools +5.9/10.0
• Cash flow +4.8/30.0
• Livability +4.1/5.0
• Rent growth +3.7/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fabulous Ocean Front Converted Alcove Studio Located In The Desirable Lafayette Cooperative. Features: Stunning Direct Ocean Views, Large Living Room, Dining Area, Separate Queen Size Bedroom, Updated Kitchen & Full Bath, Crown Molding, Hardwood Flooring Throughout, W/D On Every Floor, New Windows, And Cat Friendly. Building Offers: Sky Room, Gym, Sauna, Bike Room And Sundeck. Picture Perfect!, Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen

Key facts

• Sky party room
• Fitness center
• Sauna

Tags

• OCEAN FRONT VIEWS
• FITNESS CENTER
• SKY PARTY ROOM
• SUN DECK
• SAUNA
• WALKING DISTANCE TO SHOPPING

Property features AI

Exterior

• Parking: No carport; Parking waitlist
• Utilities: Public sewer; Cable connected; Electricity connected; Natural gas connected; Water connected
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Waterfront property

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Total rooms: 4
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; ENERGY STAR qualified equipment; Wall/window AC unit(s)
• Interior features: Elevator; Blinds; Accessible elevator installed; 4th floor entry
• Laundry & utility: Laundry in hall

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $390k.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $310k (20.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $325k (16.6% below list).
• Recommended offer: $310k (20.5% below list) — sets the bar for cash-flow.
• Cap rate 3.4% vs local median 2.1% in Long Beach — 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 82/100 on livability (#84 in NY, #1,285 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living F.
• Long Beach City School District (suburban): math 66% / reading 65% proficiency, ranked #150 of 590 in NY (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lindell Boulevard School (math 72% / reading 72%, grade A-, #378 of 2,108 statewide, top 20%, 372 students, 21% FRL); Long Beach Middle School (math 39% / reading 61%, grade C, #261 of 729 statewide, top 36%, 721 students, 25% FRL); Long Beach High School (math 91% / reading 75%, grade A, #440 of 1,100 statewide, top 40%, 1,314 students, 31% FRL) — zoned schools at 26% FRL track the district average.
• Market conditions: Rents rising fast (+4.8%/yr); 353 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 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 $3k of loan paydown is wiped out by about $12k 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 44 days — a 3% lower offer ($378k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 $256k; list at $390k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 25% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% 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 $309,925 (20.5% below list)

Questions for the listing agent

1. 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?
2. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.83% ✗
• Cap rate: 3.36%
• Cash-on-cash: -10.47%
• DSCR: 0.53
• GRM: 10.0

CMA / ARV

• ARV (median comp): $472,432
• List price: $389,900
• Delta: -17.47%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.84% rent growth · sell at horizon

5-year hold

• IRR: -41.5%
• Equity multiple: -0.32×
• Total profit: $-144,042
• Equity at exit: $58,135

10-year hold

• IRR: -46.0%
• Equity multiple: -0.91×
• Total profit: $-209,058
• Equity at exit: $33,711

Cash invested: $109,172 (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 11561

• Rents YoY: 4.8%
• Active inventory: 353
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $3,251 high
• Mortgage (P&I): −$2,045
• Tax est. 1.5%: −$487 /mo · $5,848/yr
• Insurance: −$162
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA est. from 1 same-building comp: −$826
• Vacancy / Maint / Mgmt: −$683
• Net cashflow: $-1,379

Break-even live

Break-even rent $4,996

Max offer price $190,401

Occupancy floor —

Sensitivity live

Price	-10% $-1,109	-5% $-1,244	+0% $-1,379	+5% $-1,513	+10% $-1,648
Rent	-10% $-1,636	-5% $-1,507	+0% $-1,379	+5% $-1,250	+10% $-1,122
Rate	-1.0pp $-1,182	-0.5pp $-1,280	base $-1,379	+0.5pp $-1,480	+1.0pp $-1,583

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: $97,475
• Closing costs: $11,697
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
475 W Broadway Apt B2 Long Beach, NY	1.0	1.0	600	$2,750	$4.58	5d	1	0.15mi
100 W Broadway Long Beach, NY	1.0–2.0	1.5–2.5	900	$3,975	$4.42	45d	1	0.39mi
100 W Broadway Long Beach, NY	1.0–2.0	1.5–2.5	1062	$4,500	$4.24	1d	2	0.39mi
470 Lafayette Blvd Unit 2 Long Beach, NY	1.0	1.0	600	$5,500	$9.17	45d	1	0.40mi
185 W Park Ave Unit 209 Long Beach, NY	1.0	1.0	750	$3,200	$4.27	45d	1	0.45mi
180 Boardwalk Long Beach, NY	2.0	1.0–2.0	886	$6,200	$6.99	0d	8	0.50mi
631 W Market St Unit 2 Long Beach, NY	1.0	1.0	680	$3,000	$4.41	45d	1	0.58mi
322 E Penn St Long Beach, NY	1.0	1.0	400	$2,600	$6.50	19d	1	1.09mi
330 E Broadway Unit 202 Long Beach, NY	1.0	1.0	600	$2,475	$4.12	26d	1	1.10mi
356 E Broadway Unit A Long Beach, NY	1.0	1.0	600	$2,375	$3.96	45d	1	1.13mi
17 Louisiana St Long Beach, NY	1.0	1.0	350	$2,200	$6.29	16d	1	1.14mi
570 Monroe Blvd Unit 1st Floor Long Beach, NY	2.0	1.0	700	$3,500	$5.00	1d	1	1.16mi
62 Kentucky St Long Beach, NY	1.0	1.0	600	$2,300	$3.83	45d	1	1.19mi
15 Georgia Ave Unit 2 Long Beach, NY	1.0	1.0	600	$2,400	$4.00	45d	1	1.23mi
1113 Oceanfront Long Beach, NY	1.0	1.0	500	$3,200	$6.40	7d	1	1.26mi
451 E Broadway Apt 1 Long Beach, NY	—	1.0	500	$2,100	$4.20	45d	1	1.29mi
458 E Broadway Unit 3 Long Beach, NY	1.0	1.0	537	$2,300	$4.28	45d	1	1.30mi
458 E Broadway Unit 4 Long Beach, NY	1.0	1.0	537	$2,550	$4.75	26d	1	1.30mi
470 E Broadway Unit A-8 Long Beach, NY	—	1.0	400	$2,000	$5.00	21d	1	1.32mi
470 E Broadway Unit A-10 Long Beach, NY	—	1.0	400	$1,900	$4.75	45d	1	1.32mi
470 E Broadway Unit B-3 Long Beach, NY	—	1.0	350	$2,200	$6.29	45d	1	1.32mi
56 Suffolk Rd Island Park, NY	1.0	1.0	650	$3,000	$4.62	45d	1	1.33mi
1107 Ocean Blvd Long Beach, NY	1.0	1.0	506	$3,200	$6.32	45d	1	1.36mi
74 Radcliffe Rd Unit Left Island Park, NY	1.0	1.0	450	$1,900	$4.22	13d	1	1.39mi
554 E Park Ave Unit 2 Long Beach, NY	1.0	1.0	700	$2,350	$3.36	45d	1	1.47mi

HOA detail condo

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

Listing history 21 events

1. 2026-06-21
   days on market $389,900 Active 44 DOM
2. 2026-06-18
   days on market $389,900 Active 41 DOM
3. 2026-06-17
   days on market $389,900 Active 40 DOM
4. 2026-06-16
   days on market $389,900 Active 39 DOM
5. 2026-06-15
   days on market $389,900 Active 38 DOM
6. 2026-06-13
   days on market $389,900 Active 36 DOM
7. 2026-06-13
   pricedays on market $389,900 Active 35 DOM
8. 2026-06-09
   days on market $399,000 Active 32 DOM
9. 2026-06-08
   days on market $399,000 Active 31 DOM
10. 2026-06-07
    days on market $399,000 Active 30 DOM
11. 2026-06-04
    days on market $399,000 Active 27 DOM
12. 2026-06-03
    days on market $399,000 Active 26 DOM
13. 2026-06-02
    days on market $399,000 Active 25 DOM
14. 2026-06-01
    days on market $399,000 Active 24 DOM
15. 2026-05-31
    days on market $399,000 Active 23 DOM
16. 2026-05-06
    listed $399,000 Active 841-char remark
17. 2019-06-26
    soldstatus $256,000 Closed 483-char remark

    Show marketing remark (483 chars)

    Fabulous Ocean Front Converted Alcove Studio Located In The Desirable Lafayette Cooperative. Features: Stunning Direct Ocean Views, Large Living Room, Dining Area, Separate Queen Size Bedroom, Updated Kitchen & Full Bath, Crown Molding, Hardwood Flooring Throughout, W/D On Every Floor, New Windows, And Cat Friendly. Building Offers: Sky Room, Gym, Sauna, Bike Room And Sundeck. Picture Perfect!, Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen

18. 2019-04-25
    status Under Contract 483-char remark

    Show marketing remark (483 chars)

    Fabulous Ocean Front Converted Alcove Studio Located In The Desirable Lafayette Cooperative. Features: Stunning Direct Ocean Views, Large Living Room, Dining Area, Separate Queen Size Bedroom, Updated Kitchen & Full Bath, Crown Molding, Hardwood Flooring Throughout, W/D On Every Floor, New Windows, And Cat Friendly. Building Offers: Sky Room, Gym, Sauna, Bike Room And Sundeck. Picture Perfect!, Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen

19. 2019-04-01
    listed $249,000 New 483-char remark

    Show marketing remark (483 chars)

    Fabulous Ocean Front Converted Alcove Studio Located In The Desirable Lafayette Cooperative. Features: Stunning Direct Ocean Views, Large Living Room, Dining Area, Separate Queen Size Bedroom, Updated Kitchen & Full Bath, Crown Molding, Hardwood Flooring Throughout, W/D On Every Floor, New Windows, And Cat Friendly. Building Offers: Sky Room, Gym, Sauna, Bike Room And Sundeck. Picture Perfect!, Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen

20. 2018-05-09
    historical
21. 2018-01-25
    listed $269,000 New

ⓘ 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 6/10 Major FEMA zone AE · 54% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $39,013
• − Mortgage interest: −$21,840
• − Property taxes: −$5,848
• − Insurance: −$7,068
• − Repairs & maintenance: −$3,121
• − Management: −$3,121
• − HOA: −$9,912
• − Depreciation: −$11,343
• Taxable loss: −$23,241
• Est. tax savings @ 24.0%: +$5,578
• After-tax cash flow: $-10,967/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: Long Beach City School District
• NCES district ID: 3617730
• Math proficiency: 66% ▼ -6.00%
• Reading proficiency: 65% ▼ -1.00%
• Median HH income: $86,938
• Composite: 59.18/100
• National rank: #947
• State rank: #150 of 590 in NY

Livability — Long Beach

• Score: 82/100
• State rank: #84
• US rank: #1285

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Long Beach, NY
• County: Nassau County · 653,051 people
• City population: 38,708
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 38,708
• Household income: $141,629
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 1284.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 14% Two or more races 7% Asian 5% Black 4%
• Hispanic origin (detail): Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 4% Italian 2%
• Foreign-born: 14% · Canada, Jamaica, China
• Languages at home: 84% English-only · Spanish 8% Other Indo-European 3% Tagalog/Filipino 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: ▼ -1067.69%
• Current HPI: 309.3598
• Rent YoY: ▲ 4.84%
• 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

+44.9% since first listed

7 events — show timeline

• 2026-06-12 Price Changed $389,900 OneKey® MLS as Distributed by MLS Grid
• 2026-05-06 Listed $399,000 OneKey® MLS as Distributed by MLS Grid
• 2019-06-26 Sold (MLS) $256,000 OneKey® MLS as Distributed by MLS Grid
• 2019-04-25 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-04-01 Listed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2018-05-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-01-25 Listed $269,000 OneKey® MLS as Distributed by MLS Grid