311 Nassau Rd

Huntington, NY 11743

$919,000C

6 bd · 3.0 ba · — sqft · Built 1934 · MultiFamily · Pending · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $8,446/mo
• Mortgage (P&I): −$4,819
• Tax + insurance: −$1,262
• HOA: −$0
• Vac / Maint / Mgmt: −$1,774
• Net cashflow: $591/mo
• Annual: $7,088/yr
• Cap rate: 7.06%
• Cash-on-cash: 2.75%
• DSCR: 1.12
• 1% rule: 0.92%
• Cash to close: $257,320

Investor read

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $919k.
• At list price, monthly cash flow is $591 ($7k/yr) — positive. Per door: $295/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $845k (8.1% below list).
• It's been on market 70 days — a 6% lower offer ($864k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $845k (8.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#495 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: amenities F, commute F, cost of living F.
• Huntington Union Free School District (suburban): math 45% / reading 52% proficiency, ranked #328 of 590 in NY (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington School (math 52% / reading 47%, grade D, #1,085 of 2,108 statewide, top 56%, 334 students, 55% FRL); J Taylor Finley Middle School (math 25% / reading 44%, grade F, #483 of 729 statewide, top 68%, 623 students, 58% FRL); Huntington High School (math 91% / reading 92%, grade A+, #197 of 1,100 statewide, top 18%, 1,410 students, 56% FRL) — zoned schools average 57% FRL vs 34% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+6.1%/yr); 268 active listings in the ZIP; high-income renter base; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 12y 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 $300k; list at $919k implies a 206% gain — meaningful room to come down on a strong offer.
• Cap rate 7.1% vs local median 2.1% in Huntington — 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.
• At $8,446/mo this rent would consume 55% of the median local household income ($183k/yr) (locally 479% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 70 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.