73 Raynor St · Freeport, NY 11520

$599,111

6 bd · 2.0 ba · 1,621 sqft · MultiFamily public records · 84 Days on market

Built 1898 7,880 sqft lot $370/sqft · 44% below area Est $1066k · 44% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Schools +4.6/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Location, location, location. Original gem. Both apartments are occupied on a month to month lease structure.

Key facts

• 7,880 sq ft lot
• Built 1898
• Listed 84 days

🏷️ Possibly a rental listed for sale. The $599,111 price doesn't fit this home's estimated sale value (~$1,065,850) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $599k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $599k).
• Recommended offer: $563k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 3.0% in Freeport — 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 83/100 on livability (#69 in NY, #1,033 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• Freeport Union Free School District (suburban): math 49% / reading 55% proficiency, ranked #325 of 590 in NY (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 199 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $4k of loan paydown is wiped out by about $18k 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 $168k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($563k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $115k; list at $599k implies a 421% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 69% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $563,164 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 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 1898 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.37% ✓
• Cap rate: 11.11%
• Cash-on-cash: 17.20%
• DSCR: 1.77
• GRM: 6.1

CMA / ARV

• ARV (median comp): $1,065,850
• List price: $599,111
• Delta: -43.79%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31 Harding Pl	0.62mi	5/2.0 (-1)	1,861 (+15%)	10mo	$740,000	$398	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 8.5%
• Equity multiple: 1.33×
• Total profit: $56,173
• Equity at exit: $89,329

10-year hold

• IRR: 17.8%
• Equity multiple: 2.47×
• Total profit: $246,529
• Equity at exit: $51,800

Cash invested: $167,751 (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 11520

• Active inventory: 199
• Price-to-rent: 18.2×

Monthly cashflow live

• Estimated rent: $8,233 medium
• Mortgage (P&I): −$3,142
• Tax from tax record: −$708 /mo · $8,495/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,729
• Net cashflow: $2,405

Break-even live

Break-even rent $5,189

Max offer price $599,111

Occupancy floor 66%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$8,232
Total (3 units)			$8,233

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: $149,778
• Closing costs: $17,973
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9 Ann Dr N Freeport, NY	5.0	3.0	1400	$4,300	$3.07	1d	1	0.82mi

Listing history 18 events

1. 2026-06-18
   days on market $599,111 Active 84 DOM
2. 2026-06-17
   days on market $599,111 Active 83 DOM
3. 2026-06-16
   days on market $599,111 Active 82 DOM
4. 2026-06-15
   days on market $599,111 Active 81 DOM
5. 2026-06-13
   days on market $599,111 Active 79 DOM
6. 2026-06-12
   days on market $599,111 Active 78 DOM
7. 2026-06-09
   days on market $599,111 Active 75 DOM
8. 2026-06-08
   days on market $599,111 Active 74 DOM
9. 2026-06-07
   days on market $599,111 Active 73 DOM
10. 2026-06-07
    days on market $599,111 Active 72 DOM
11. 2026-06-04
    days on market $599,111 Active 69 DOM
12. 2026-06-02
    days on market $599,111 Active 68 DOM
13. 2026-06-01
    days on market $599,111 Active 67 DOM
14. 2026-05-31
    days on market $599,111 Active 66 DOM
15. 2026-04-29
    price $599,111 110-char remark

    Show marketing remark (110 chars)

    Location, location, location. Original gem. Both apartments are occupied on a month to month lease structure.

16. 2026-03-26
    listed $649,000 Active 110-char remark

    Show marketing remark (110 chars)

    Location, location, location. Original gem. Both apartments are occupied on a month to month lease structure.

17. 1993-11-19
    soldstatus $115,000
18. 1985-06-21
    soldstatus $90,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $8,495 · $708/mo
• Projected year-2 tax: $9,310 · $776/mo
• Expected delta: +$815/yr (+$68/mo · 9.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $98,796
• − Mortgage interest: −$33,560
• − Property taxes: −$8,495
• − Insurance: −$2,996
• − Repairs & maintenance: −$7,904
• − Management: −$7,904
• − Depreciation: −$17,429
• Taxable income: $20,509
• Est. tax owed @ 24.0%: −$4,922
• After-tax cash flow: $23,934/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: Freeport Union Free School District
• NCES district ID: 3611550
• Math proficiency: 49% ▼ -4.00%
• Reading proficiency: 55% ▲ 2.00%
• Median HH income: $67,772
• Composite: 46.12/100
• National rank: #2507
• State rank: #325 of 590 in NY

Livability — Freeport

• Score: 83/100
• State rank: #69
• US rank: #1033

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Freeport, NY
• City population: 44,873
• Population (ZIP): 44,873

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 0.67)
• Race & ethnicity: Hispanic / Latino 43% Black 33% White 19% Two or more races 17% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Dominican 15%
• Common ancestry: Hispanic 5% Scotch-Irish 1% Romanian 1%
• Foreign-born: 34% · Canada, Jamaica, Guatemala
• Languages at home: 55% English-only · Spanish 38% French/Haitian/Cajun 3% Other Indo-European 1%

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: ▼ -721.06%
• Current HPI: 317.6076
• 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

+565.7% since first listed

4 events — show timeline

• 2026-04-29 Price Changed $599,111 OneKey® MLS as Distributed by MLS Grid
• 2026-03-26 Listed $649,000 OneKey® MLS as Distributed by MLS Grid
• 1993-11-19 Sold (Public Records) $115,000 Public Records
• 1985-06-21 Sold (Public Records) $90,000 Public Records

Property tax history

+1.8%/yr

Latest (2024): $8,495 · +4.8% YoY. Source: county tax records.