240 Central Ave Unit 2F · Lawrence, NY 11559

$249,000

1 bd · 1.0 ba · 700 sqft · Condo · 105 Days on market

Built 1953

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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 +24.9/30.0
• Appreciation +10.0/10.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +4.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Basement, Garage, Storage, Parking $55 A Month, Elevator Building, Corner Apartment With Two Windows In Kitchen, Screened Terrace, New Doors And Windows , Lots Of Closets, Storage And Laundry Room., Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

Key facts

• Washer and dryer
• Sun-filled apartment
• Elevator access

Tags

• SUN-FILLED APARTMENT
• BONUS SCREENED-IN PORCH
• ELEVATOR ACCESS
• WASHER AND DRYER
• PARKING SPACES AVAILABLE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $249k.

Deal economics

• At list price, monthly cash flow is $531 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Recommended offer: $227k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#981 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing C-, amenities F, commute F.
• Lawrence Union Free School District (suburban): math 43% / reading 46% proficiency, ranked #399 of 590 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lawrence Early Childhood Center At #4 School (145 students, 94% FRL); Lawrence Middle School At Broadway Campus (math 12% / reading 37%, grade F, #611 of 729 statewide, top 88%, 405 students, 79% FRL); Lawrence Senior High School (math 87% / reading 30%, grade C, #877 of 1,100 statewide, top 80%, 770 students, 70% FRL) — zoned schools average 81% FRL vs 52% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 53 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

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Nassau County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 7 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 $155k; list at $249k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $226,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 1.14% ✓
• Cap rate: 8.85%
• Cash-on-cash: 9.13%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.0%
• Equity multiple: 3.43×
• Total profit: $169,457
• Equity at exit: $224,319

10-year hold

• IRR: 26.8%
• Equity multiple: 7.78×
• Total profit: $472,526
• Equity at exit: $483,752

Cash invested: $69,720 (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 11559

• Home prices YoY: 4.1%
• Active inventory: 53
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,850 medium
• Mortgage (P&I): −$1,306
• Tax est. 1.5%: −$311 /mo · $3,735/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$598
• Net cashflow: $531

Break-even live

Break-even rent $2,178

Max offer price $249,000

Occupancy floor 76%

Sensitivity live

Price	-10% $703	-5% $617	+0% $531	+5% $445	+10% $359
Rent	-10% $306	-5% $418	+0% $531	+5% $643	+10% $756
Rate	-1.0pp $656	-0.5pp $594	base $531	+0.5pp $466	+1.0pp $401

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
601 Chestnut St Unit A-21 Cedarhurst, NY	1.0	1.0	700	$2,850	$4.07	46d	1	0.95mi

HOA detail condo

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

Listing history 19 events

1. 2026-02-11
   status Pending
2. 2025-12-01
   price $249,000
3. 2025-11-04
   price $265,000
4. 2025-11-03
   status Active
5. 2025-09-02
   listed $249,000 Active
6. 2023-09-27
   status Pending
7. 2023-07-04
   status Active
8. 2023-07-01
   historical
9. 2023-07-01
   historical
10. 2023-05-21
    status Active
11. 2023-02-07
    status Pending
12. 2022-12-31
    listed $229,000 Active
13. 2019-07-29
    soldstatus $155,000 Closed 286-char remark

    Show marketing remark (286 chars)

    Basement, Garage, Storage, Parking $55 A Month, Elevator Building, Corner Apartment With Two Windows In Kitchen, Screened Terrace, New Doors And Windows , Lots Of Closets, Storage And Laundry Room., Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

14. 2019-06-07
    status Under Contract 286-char remark

    Show marketing remark (286 chars)

    Basement, Garage, Storage, Parking $55 A Month, Elevator Building, Corner Apartment With Two Windows In Kitchen, Screened Terrace, New Doors And Windows , Lots Of Closets, Storage And Laundry Room., Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

15. 2019-05-20
    status Back On Market 286-char remark

    Show marketing remark (286 chars)

    Basement, Garage, Storage, Parking $55 A Month, Elevator Building, Corner Apartment With Two Windows In Kitchen, Screened Terrace, New Doors And Windows , Lots Of Closets, Storage And Laundry Room., Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

16. 2019-03-25
    status Under Contract 286-char remark

    Show marketing remark (286 chars)

    Basement, Garage, Storage, Parking $55 A Month, Elevator Building, Corner Apartment With Two Windows In Kitchen, Screened Terrace, New Doors And Windows , Lots Of Closets, Storage And Laundry Room., Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

17. 2019-02-08
    price $155,000 286-char remark

    Show marketing remark (286 chars)

    Basement, Garage, Storage, Parking $55 A Month, Elevator Building, Corner Apartment With Two Windows In Kitchen, Screened Terrace, New Doors And Windows , Lots Of Closets, Storage And Laundry Room., Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

18. 2018-12-26
    price $175,000 286-char remark

    Show marketing remark (286 chars)

    Basement, Garage, Storage, Parking $55 A Month, Elevator Building, Corner Apartment With Two Windows In Kitchen, Screened Terrace, New Doors And Windows , Lots Of Closets, Storage And Laundry Room., Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

19. 2018-10-24
    listed $185,000 New 286-char remark

    Show marketing remark (286 chars)

    Basement, Garage, Storage, Parking $55 A Month, Elevator Building, Corner Apartment With Two Windows In Kitchen, Screened Terrace, New Doors And Windows , Lots Of Closets, Storage And Laundry Room., Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,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 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: $34,200
• − Mortgage interest: −$13,948
• − Property taxes: −$3,735
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,736
• − Management: −$2,736
• − Depreciation: −$7,244
• Taxable income: $2,556
• Est. tax owed @ 24.0%: −$614
• After-tax cash flow: $5,755/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: Lawrence Union Free School District
• NCES district ID: 3616830
• Math proficiency: 43% ▼ -2.00%
• Reading proficiency: 46% ▼ -8.00%
• Median HH income: $91,008
• Composite: 42.14/100
• National rank: #3307
• State rank: #399 of 590 in NY

Livability — Lawrence

• Score: 60/100
• State rank: #981
• US rank: #19168

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lawrence, NY
• City population: 9,130
• Population (ZIP): 9,130

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 17% Black 5% Two or more races 2% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 19% Slovak 3% Hispanic 3%
• Foreign-born: 20% · Canada
• Languages at home: 67% English-only · Spanish 11% French/Haitian/Cajun 4% Russian/Polish/Slavic 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: ▲ 17.24%
• Current HPI: 436.7253
• 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

+34.6% since first listed

19 events — show timeline

• 2026-02-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-12-01 Price Changed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-04 Price Changed $265,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-03 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-09-02 Listed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2023-09-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-07-04 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2023-07-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-07-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-05-21 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2023-02-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2022-12-31 Listed $229,000 OneKey® MLS as Distributed by MLS Grid
• 2019-07-29 Sold (MLS) $155,000 OneKey® MLS as Distributed by MLS Grid
• 2019-06-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-05-20 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2019-03-25 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-02-08 Price Changed $155,000 OneKey® MLS as Distributed by MLS Grid
• 2018-12-26 Price Changed $175,000 OneKey® MLS as Distributed by MLS Grid
• 2018-10-24 Listed $185,000 OneKey® MLS as Distributed by MLS Grid