15 Beach Rd Unit 3D · Great Neck, NY 11023

$279,000

1 bd · 1.0 ba · 615 sqft · Condo · 80 Days on market

Built 1953 Good condition $454/sqft · 6% below area Est $296k · 6% under

---

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 +17.3/30.0
• ARV discount +10.1/15.0
• Schools +7.6/10.0
• DSCR +5.4/10.0
• 1% rule +4.7/10.0
• Appreciation +4.3/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

Pristine 1-Bedroom Co-Op Adjacent to the Village Green Experience the perfect blend of tranquility and convenience in this meticulously maintained one-bedroom co-op at 15 Beach Road. Located on the third floor of a charming walk-up, this bright and clean residence offers a modern aesthetic and a functional layout, providing an excellent move-in-ready opportunity in the heart of Great Neck. Property Highlights:• Impeccable Condition: Exceptionally clean and well-kept interior with abundant natural light.• Serene Setting: The building sits on a lush, manicured lawn directly adjacent to the iconic Village Green.• On-Site Amenities: Features dedicated laundry facilities and private storage space within the building.• Prime Location: Moments from the Great Neck LIRR, premier shopping, dining, and local village services. Building Policies: Please note this is a no-pet and no-sublet building, ensuring a consistent and quiet community environment. Enjoy park-side living in one of the North Shore’s most desirable locations.

Key facts

• Park-side living
• Built 1953
• Listed 79 days

Tags

• DEDICATED LAUNDRY FACILITIES
• PRIVATE STORAGE SPACE
• PARK-SIDE LIVING

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $279k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (3.3% below list).
• Recommended offer: $262k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 3.0% in Great Neck — 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 74/100 on livability (#294 in NY, #4,766 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: housing C-, 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.
• Market conditions: 49 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 (-1.5%/yr); year-one equity from $2k of loan paydown is wiped out by about $4k 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 80 days — a 6% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $215k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• 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 $262,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.97% ✗
• Cap rate: 7.17%
• Cash-on-cash: 3.14%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

• ARV (median comp): $295,810
• List price: $279,000
• Delta: -5.68%
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-1.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.83×
• Total profit: $-13,662
• Equity at exit: $61,274

10-year hold

• IRR: 3.2%
• Equity multiple: 1.28×
• Total profit: $21,988
• Equity at exit: $59,300

Cash invested: $78,120 (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 11023

• Home prices YoY: -0.5%
• Active inventory: 49
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,699 high
• Mortgage (P&I): −$1,463
• Tax est. 1.5%: −$349 /mo · $4,185/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $204

Break-even live

Break-even rent $2,441

Max offer price $279,000

Occupancy floor 87%

Sensitivity live

Price	-10% $397	-5% $301	+0% $204	+5% $108	+10% $12
Rent	-10% $-9	-5% $98	+0% $204	+5% $311	+10% $418
Rate	-1.0pp $345	-0.5pp $275	base $204	+0.5pp $132	+1.0pp $58

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Stoner Ave Unit 2G Great Neck, NY	1.0	1.0	700	$2,800	$4.00	44d	1	1.08mi
30 Barstow Rd Unit LL4 Great Neck, NY	—	1.0	415	$1,825	$4.40	44d	1	1.14mi
7 Bond St Unit 3J Great Neck, NY	1.0	1.0	650	$2,800	$4.31	20d	1	1.21mi
11 Schenck Ave Unit 2D Great Neck Plaza, NY	1.0	1.0	750	$2,200	$2.93	44d	1	1.39mi
17 Schenck Ave Unit 3B Great Neck Plaza, NY	1.0	1.0	700	$2,295	$3.28	14d	1	1.40mi
240 E Shore Rd Great Neck, NY	3.0	1.0–2.5	999	$4,770	$4.77	2d	1	1.40mi

HOA detail condo

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

Listing history 18 events

1. 2026-06-18
   days on market $279,000 Active 80 DOM
2. 2026-06-17
   days on market $279,000 Active 79 DOM
3. 2026-06-16
   days on market $279,000 Active 78 DOM
4. 2026-06-15
   days on market $279,000 Active 77 DOM
5. 2026-06-13
   days on market $279,000 Active 75 DOM
6. 2026-06-09
   days on market $279,000 Active 71 DOM
7. 2026-06-08
   days on market $279,000 Active 70 DOM
8. 2026-06-07
   days on market $279,000 Active 69 DOM
9. 2026-06-04
   days on market $279,000 Active 66 DOM
10. 2026-06-03
    days on market $279,000 Active 65 DOM
11. 2026-06-02
    days on market $279,000 Active 64 DOM
12. 2026-06-01
    days on market $279,000 Active 63 DOM
13. 2026-05-31
    days on market $279,000 Active 62 DOM
14. 2026-04-27
    price $289,000 1056-char remark

    Show marketing remark (1056 chars)

    Pristine 1-Bedroom Co-Op Adjacent to the Village Green Experience the perfect blend of tranquility and convenience in this meticulously maintained one-bedroom co-op at 15 Beach Road. Located on the third floor of a charming walk-up, this bright and clean residence offers a modern aesthetic and a functional layout, providing an excellent move-in-ready opportunity in the heart of Great Neck. Property Highlights:• Impeccable Condition: Exceptionally clean and well-kept interior with abundant natural light.• Serene Setting: The building sits on a lush, manicured lawn directly adjacent to the iconic Village Green.• On-Site Amenities: Features dedicated laundry facilities and private storage space within the building.• Prime Location: Moments from the Great Neck LIRR, premier shopping, dining, and local village services. Building Policies: Please note this is a no-pet and no-sublet building, ensuring a consistent and quiet community environment. Enjoy park-side living in one of the North Shore’s most desirable locations.

15. 2026-03-30
    listed $299,000 Active 1056-char remark

    Show marketing remark (1056 chars)

    Pristine 1-Bedroom Co-Op Adjacent to the Village Green Experience the perfect blend of tranquility and convenience in this meticulously maintained one-bedroom co-op at 15 Beach Road. Located on the third floor of a charming walk-up, this bright and clean residence offers a modern aesthetic and a functional layout, providing an excellent move-in-ready opportunity in the heart of Great Neck. Property Highlights:• Impeccable Condition: Exceptionally clean and well-kept interior with abundant natural light.• Serene Setting: The building sits on a lush, manicured lawn directly adjacent to the iconic Village Green.• On-Site Amenities: Features dedicated laundry facilities and private storage space within the building.• Prime Location: Moments from the Great Neck LIRR, premier shopping, dining, and local village services. Building Policies: Please note this is a no-pet and no-sublet building, ensuring a consistent and quiet community environment. Enjoy park-side living in one of the North Shore’s most desirable locations.

16. 2024-03-19
    soldstatus $215,000 Closed 576-char remark

    Show marketing remark (576 chars)

    Lovely Top Floor One Bedroom in Great Neck Village. Close to Everything. Welcome to this charming one-bedroom apartment nestled on the top floor of a well-maintained walk-up building. enjoy views of the private landscaped courtyard and the village green park/ .the location offers convenience With nearby bus stops and town amenities within walking distance, you'll have easy access to public transportation and a variety of shops and restaurants. Enjoy all the benefits of the Great Neck Park District., Additional information: Appearance:Very Good,Interior Features:Lr/Dr

17. 2023-10-11
    status Pending 576-char remark

    Show marketing remark (576 chars)

    Lovely Top Floor One Bedroom in Great Neck Village. Close to Everything. Welcome to this charming one-bedroom apartment nestled on the top floor of a well-maintained walk-up building. enjoy views of the private landscaped courtyard and the village green park/ .the location offers convenience With nearby bus stops and town amenities within walking distance, you'll have easy access to public transportation and a variety of shops and restaurants. Enjoy all the benefits of the Great Neck Park District., Additional information: Appearance:Very Good,Interior Features:Lr/Dr

18. 2023-08-03
    listed $220,000 Active 576-char remark

    Show marketing remark (576 chars)

    Lovely Top Floor One Bedroom in Great Neck Village. Close to Everything. Welcome to this charming one-bedroom apartment nestled on the top floor of a well-maintained walk-up building. enjoy views of the private landscaped courtyard and the village green park/ .the location offers convenience With nearby bus stops and town amenities within walking distance, you'll have easy access to public transportation and a variety of shops and restaurants. Enjoy all the benefits of the Great Neck Park District., Additional information: Appearance:Very Good,Interior Features:Lr/Dr

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°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: $32,391
• − Mortgage interest: −$15,628
• − Property taxes: −$4,185
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,591
• − Management: −$2,591
• − Depreciation: −$8,116
• Taxable loss: −$2,116
• Est. tax savings @ 24.0%: +$508
• After-tax cash flow: $2,960/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This move-in-ready one-bedroom condo is in good condition with a good curb appeal. Minor updates to the walls and kitchen can further enhance its value.

Value-add opportunities

• Both paint walls — Fresh paint can make a significant difference in the home's appearance
• Both replace wallpaper — New wallpaper can modernize the space and add value
• Both clean kitchen — A clean kitchen can attract more buyers and renters

Renovation cost estimate screening

Value-add ROI direction

• Both paint walls — Fresh paint can make a significant difference in the home's appearance ↑
• Both replace wallpaper — New wallpaper can modernize the space and add value ↑
• Both clean kitchen — A clean kitchen can attract more buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Great Neck

• Score: 74/100
• State rank: #294
• US rank: #4766

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Great Neck, NY
• City population: 19,783
• Population (ZIP): 9,824

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 17% Two or more races 4% Hispanic / Latino 2% Black 1%
• Common ancestry: Romanian 5% Scotch-Irish 4% Italian 1%
• Foreign-born: 29% · China, Canada, Dominican Republic
• Languages at home: 57% English-only · Other Indo-European 17% Chinese 10% Other Asian/Pacific 3%

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: ▼ -1.46%
• Current HPI: 274.3808
• 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

+31.4% since first listed

5 events — show timeline

• 2026-04-27 Price Changed $289,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-30 Listed $299,000 OneKey® MLS as Distributed by MLS Grid
• 2024-03-19 Sold (MLS) $215,000 OneKey® MLS as Distributed by MLS Grid
• 2023-10-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-08-03 Listed $220,000 OneKey® MLS as Distributed by MLS Grid