1209 E Broadway Unit D23 · Hewlett, NY 11557

$229,000

2 bd · 1.0 ba · 900 sqft · Condo · 19 Days on market

Built 1955

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Schools +7.0/10.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sunny 2 Bedroom In Great Location, Entry, Eat In Kitchen, Dining Area, Living Room, Full Bathroom. Terrace Off Kitchen. Perfect Location Just Steps To Shops And LIRR. Garden Town Is Situated On 5 Acres Of Tree Lined Beautiful Gardens. Maintenance Includes Heat And Hot Water. Coop Is Being Sold As-Is., Additional information: Interior Features:Lr/Dr

Key facts

• Built 1955
• Listed 18 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Electricity connected; Natural gas connected; Public sewer; Water connected; Sewer connected
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: Entry level: 2
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window air conditioning unit(s)
• Interior features: Entrance foyer; Formal dining; Pantry; Recessed lighting
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $229k.

Deal economics

• At list price, monthly cash flow is $901 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $229k).
• Recommended offer: $226k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 2.7% in Hewlett — 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 89/100 on livability (#7 in NY, #165 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living F.
• Hewlett-Woodmere Union Free School District (suburban): math 72% / reading 79% proficiency, ranked #59 of 590 in NY (top 10%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Hewlett Elementary School (math 57% / reading 72%, grade B, #591 of 2,108 statewide, top 31%, 403 students, 26% FRL); Woodmere Middle School (math 62% / reading 73%, grade A-, #98 of 729 statewide, top 14%, 716 students, 26% FRL); George W Hewlett High School (math 95% / reading 97%, grade A+, #68 of 1,100 statewide, top 6%, 999 students, 26% FRL).
• Market conditions: 71 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $7k 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 $64k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask is 99% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $130k; list at $229k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 70% 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 $225,565 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.40% ✓
• Cap rate: 11.31%
• Cash-on-cash: 17.90%
• DSCR: 1.80
• GRM: 5.9

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: 8.1%
• Equity multiple: 1.32×
• Total profit: $20,371
• Equity at exit: $34,145

10-year hold

• IRR: 17.4%
• Equity multiple: 2.43×
• Total profit: $91,982
• Equity at exit: $19,800

Cash invested: $64,120 (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 11557

• Active inventory: 71
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $3,214 high
• Mortgage (P&I): −$1,201
• Tax est. 1.5%: −$286 /mo · $3,435/yr
• Insurance: −$95
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$675
• Net cashflow: $901

Break-even live

Break-even rent $2,074

Max offer price $229,000

Occupancy floor 67%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
227 Franklin Pl Woodmere, NY	3.0	1.0	950	$3,400	$3.58	43d	1	0.55mi
510 Dubois Ave Apt 3C Valley Stream, NY	2.0	1.5	1050	$3,400	$3.24	43d	1	0.97mi
141 Munro Blvd Valley Stream, NY	1.0	1.0	1000	$1,300	$1.30	17d	1	1.00mi
65 Prospect Ave Apt 15W Lynbrook, NY	2.0	2.0	1060	$3,680	$3.47	22d	1	1.11mi
65 Prospect Ave Unit 2W Lynbrook, NY	1.0	1.0	800	$3,055	$3.82	43d	1	1.11mi
623 Central Ave Unit 306 Cedarhurst, NY	1.0	1.0	1000	$2,550	$2.55	19d	1	1.38mi
601 Chestnut St Unit A-21 Cedarhurst, NY	1.0	1.0	700	$2,850	$4.07	43d	1	1.40mi
23 Thompson Pl Unit 2 Lynbrook, NY	3.0	1.0	900	$3,100	$3.44	19d	1	1.49mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-18
   days on market $229,000 Active 19 DOM
2. 2026-06-17
   days on market $229,000 Active 18 DOM
3. 2026-06-16
   days on market $229,000 Active 17 DOM
4. 2026-06-15
   days on market $229,000 Active 16 DOM
5. 2026-06-13
   days on market $229,000 Active 14 DOM
6. 2026-06-13
   days on market $229,000 Active 13 DOM
7. 2026-06-09
   days on market $229,000 Active 10 DOM
8. 2026-06-08
   days on market $229,000 Active 9 DOM
9. 2026-06-07
   days on market $229,000 Active 8 DOM
10. 2026-06-04
    days on market $229,000 Active 5 DOM
11. 2026-06-03
    days on market $229,000 Active 4 DOM
12. 2026-06-02
    days on market $229,000 Active 3 DOM
13. 2026-06-01
    days on market $229,000 Active 2 DOM
14. 2026-05-31
    statusdays on market $229,000 Active 1 DOM

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 78% 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 70% 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: $38,571
• − Mortgage interest: −$12,828
• − Property taxes: −$3,435
• − Insurance: −$1,812
• − Repairs & maintenance: −$3,086
• − Management: −$3,086
• − Depreciation: −$6,662
• Taxable income: $7,664
• Est. tax owed @ 24.0%: −$1,839
• After-tax cash flow: $8,975/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: Hewlett-Woodmere Union Free School District
• NCES district ID: 3631710
• Math proficiency: 72% ▼ -7.00%
• Reading proficiency: 79% ▼ -3.00%
• Median HH income: $112,656
• Composite: 69.89/100
• National rank: #287
• State rank: #59 of 590 in NY

Livability — Hewlett

• Score: 89/100
• State rank: #7
• US rank: #165

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hewlett, NY
• Population (ZIP): 8,503

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 (74%)
• Race & ethnicity: White 74% Asian 9% Hispanic / Latino 8% Black 6% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Scotch-Irish 5% Romanian 4% Danish 2%
• Foreign-born: 19% · Canada, Vietnam, China
• Languages at home: 74% English-only · Russian/Polish/Slavic 6% Spanish 6% Other Indo-European 4%

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: ▼ -218.62%
• Current HPI: 273.9904
• 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

+64.7% since first listed

10 events — show timeline

• 2026-05-27 Coming Soon $229,000 OneKey® MLS as Distributed by MLS Grid
• 2020-01-24 Sold (MLS) $130,000 OneKey® MLS as Distributed by MLS Grid
• 2019-08-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-06-04 Listed $115,000 OneKey® MLS as Distributed by MLS Grid
• 2019-04-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-01-10 Pending — OneKey® MLS as Distributed by MLS Grid
• 2018-10-25 Price Changed $129,900 OneKey® MLS as Distributed by MLS Grid
• 2018-09-06 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2018-07-25 Pending — OneKey® MLS as Distributed by MLS Grid
• 2018-06-15 Listed $139,000 OneKey® MLS as Distributed by MLS Grid