197 Delaware Ave · Freeport, NY 11520

$569,900

3 bd · 2.0 ba · 1,682 sqft · SingleFamily public records · 26 Days on market

Built 1954 7,500 sqft lot $339/sqft · 27% below area Est $778k · 27% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +7.0/30.0
• Schools +6.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ranch Style Home. This Home Features 3 Bedrooms, 2 Full Baths, Formal Dining Room, & 1 Car Garage. Centrally Located To All. Don't Miss This Opportunity!

Key facts

• 7,500 sq ft lot
• Garage
• Built 1954

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $570k.

Deal economics

• At list price, monthly cash flow is $-835 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $422k (25.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $421k (26.2% below list).
• Recommended offer: $421k (26.2% below list) — sets the bar for 1% rule.
• Cap rate 4.5% 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.
• Baldwin Union Free School District (suburban): math 69% / reading 73% proficiency, ranked #93 of 590 in NY (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 199 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $17k 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 26 days — a 2% lower offer ($561k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 69% 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 $420,807 (26.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.74% ✗
• Cap rate: 4.53%
• Cash-on-cash: -6.28%
• DSCR: 0.72
• GRM: 11.3

CMA / ARV

• ARV (median comp): $777,838
• List price: $569,900
• Delta: -26.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
187 Green Ave	0.39mi	4/2.0 (+1)	1,716 (+2%)	4mo	$675,000	$393	70
319 Maryland Ave	0.31mi	3/1.5	1,572 (-6%)	5mo	$605,000	$385	68
25 Oxford Dr	0.52mi	3/1.5	1,670 (-1%)	5mo	$752,000	$450	68
1515 Paul St	0.44mi	3/2.0	1,769 (+5%)	5mo	$400,000	$226	67
12 King St	0.60mi	3/2.0	1,579 (-6%)	1mo	$655,000	$415	61
251 N Long Beach Ave	0.41mi	4/1.5 (+1)	1,560 (-7%)	4mo	$660,000	$423	59
63 W Lincoln Pl	0.63mi	4/2.0 (+1)	1,604 (-5%)	3mo	$560,000	$349	55
222 N Ocean Ave	0.66mi	3/1.0	1,602 (-5%)	6mo	$630,000	$393	52
671 Stanton Ave	0.65mi	3/1.5	1,551 (-8%)	4mo	$710,000	$458	52
36 New York Ave	0.47mi	4/2.5 (+1)	1,482 (-12%)	5mo	$785,000	$530	47
35 W Seaman Ave	0.66mi	4/1.5 (+1)	1,450 (-14%)	2mo	$542,000	$374	38
64 W Milton St	0.64mi	4/2.0 (+1)	1,922 (+14%)	6mo	$755,000	$393	36

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: -27.1%
• Equity multiple: 0.09×
• Total profit: $-145,338
• Equity at exit: $84,974

10-year hold

• IRR: -24.7%
• Equity multiple: -0.22×
• Total profit: $-194,238
• Equity at exit: $49,275

Cash invested: $159,572 (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: 11.3×

Monthly cashflow live

• Estimated rent: $4,208 medium
• Mortgage (P&I): −$2,989
• Tax from tax record: −$933 /mo · $11,201/yr
• Insurance: −$237
• HOA: −$0
• Vacancy / Maint / Mgmt: −$884
• Net cashflow: $-835

Break-even live

Break-even rent $5,265

Max offer price $422,373

Occupancy floor —

Sensitivity live

Price	-10% $-513	-5% $-674	+0% $-835	+5% $-996	+10% $-1,158
Rent	-10% $-1,168	-5% $-1,001	+0% $-835	+5% $-669	+10% $-503
Rate	-1.0pp $-548	-0.5pp $-690	base $-835	+0.5pp $-983	+1.0pp $-1,133

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: $142,475
• Closing costs: $17,097
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 Mayfair Ct Freeport, NY	3.0	2.5	1860	$4,750	$2.55	8d	1	0.49mi
66 E Seaman Ave Freeport, NY	3.0	2.5	1200	$3,600	$3.00	44d	1	0.85mi
21 W Centennial Ave Roosevelt, NY	3.0	2.0	1176	$3,600	$3.06	19d	1	0.87mi
196 E Seaman Ave Freeport, NY	3.0	2.5	1062	$8,500	$8.00	17d	1	1.17mi

Listing history 2 events

1. 2026-05-05
   status Pending 157-char remark

   Show marketing remark (157 chars)

   Ranch Style Home. This Home Features 3 Bedrooms, 2 Full Baths, Formal Dining Room, & 1 Car Garage. Centrally Located To All. Don't Miss This Opportunity!

2. 2026-04-08
   listed $569,900 Active 157-char remark

   Show marketing remark (157 chars)

   Ranch Style Home. This Home Features 3 Bedrooms, 2 Full Baths, Formal Dining Room, & 1 Car Garage. Centrally Located To All. Don't Miss This Opportunity!

ⓘ 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: $11,201 · $933/mo
• Projected year-2 tax: $11,201 · $933/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥96°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: $50,497
• − Mortgage interest: −$31,923
• − Property taxes: −$11,201
• − Insurance: −$2,850
• − Repairs & maintenance: −$4,040
• − Management: −$4,040
• − Depreciation: −$16,579
• Taxable loss: −$20,135
• Est. tax savings @ 24.0%: +$4,832
• After-tax cash flow: $-5,189/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: Baldwin Union Free School District
• NCES district ID: 3603840
• Math proficiency: 69% ▲ 7.00%
• Reading proficiency: 73% ▲ 12.00%
• Median HH income: $99,594
• Composite: 64.93/100
• National rank: #509
• State rank: #93 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

2 events — show timeline

• 2026-05-05 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-08 Listed $569,900 OneKey® MLS as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2024): $11,201 · -3.7% YoY. Source: county tax records.