31 Julian Pl · Island Park, NY 11558

$879,992

6 bd · 2.5 ba · 2,016 sqft · MultiFamily public records · 58 Days on market

Built 1945 10,828 sqft lot $437/sqft · 32% below area Est $1300k · 32% under

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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 +18.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• Schools +4.7/10.0
• 1% rule +4.6/10.0
• Livability +3.9/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Welcome to 31 Julian Place, A Fully Renovated Legal 2-Family in the Village of Island Park. Sitting on an oversized corner lot, this move-in ready property was thoughtfully designed throughout and presents multiple unique opportunities for both investors and end-users. Both units have an open concept floor plan with 3 bedrooms, 1.5 bathrooms, a custom chef’s kitchen with sleek cabinetry & ample counter space, & private laundry in-unit. Additional features include a fully finished basement with a spa-like bathroom, huge backyard space with endless potential waiting for the right buyer to make their own, & large driveway that can easily fit 4-5 vehicles making parking seamless. Conveniently located just blocks from the village, shops, restaurants, long island railroad, and beaches, this home has it all!

Key facts

• Oversized corner lot
• Fully renovated
• Legal 2-family

Tags

• FULLY RENOVATED
• LEGAL 2-FAMILY
• OVERSIZED CORNER LOT
• OPEN CONCEPT FLOOR PLAN
• CUSTOM CHEF'S KITCHEN
• PRIVATE LAUNDRY IN-UNIT

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/1.5-bath units multifamily listed at $880k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive. Per door: $169/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 (4.0% below list).
• Recommended offer: $845k (4.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 78/100 on livability (#160 in NY, #2,453 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Island Park Union Free School District (suburban): math 43% / reading 62% proficiency, ranked #300 of 590 in NY (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 43 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• At $8,450/mo this rent would consume 91% of the median local household income ($111k/yr) (locally 371% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $26k 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 58 days — a 3% lower offer ($854k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $845,000 (4.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.96% ✗
• Cap rate: 7.38%
• Cash-on-cash: 3.89%
• DSCR: 1.17
• GRM: 8.7

CMA / ARV

• ARV (median comp): $1,300,000
• List price: $879,992
• Delta: -32.31%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
41 Ostend Rd	0.60mi	5/2.0 (-1)	2,035 (+1%)	4mo	$847,000	$416	60
449 E Market St	0.71mi	6/4.0	2,208 (+10%)	12mo	$1,150,000	$521	34

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: -13.6%
• Equity multiple: 0.51×
• Total profit: $-120,796
• Equity at exit: $131,210

10-year hold

• IRR: -4.7%
• Equity multiple: 0.69×
• Total profit: $-76,325
• Equity at exit: $76,086

Cash invested: $246,398 (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 11558

• Home prices YoY: -24.6%
• Active inventory: 43
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $8,450 high
• Mortgage (P&I): −$4,615
• Tax from tax record: −$896 /mo · $10,750/yr
• Insurance: −$367
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,774
• Net cashflow: $338

Break-even live

Break-even rent $8,022

Max offer price $879,992

Occupancy floor 91%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	1.5	$8,450
Total (2 units)			$8,450

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: $219,998
• Closing costs: $26,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
302 W Hudson St Long Beach, NY	6.0	2.0	2000	$6,500	$3.25	19d	1	0.85mi

Listing history 12 events

1. 2026-06-13
   statusdays on market $879,992 Pending 58 DOM
2. 2026-06-09
   days on market $879,992 Active 54 DOM
3. 2026-06-08
   days on market $879,992 Active 53 DOM
4. 2026-06-07
   days on market $879,992 Active 52 DOM
5. 2026-06-04
   days on market $879,992 Active 49 DOM
6. 2026-06-03
   days on market $879,992 Active 48 DOM
7. 2026-06-02
   days on market $879,992 Active 47 DOM
8. 2026-06-01
   days on market $879,992 Active 46 DOM
9. 2026-05-31
   days on market $879,992 Active 45 DOM
10. 2026-05-14
    price $879,993 830-char remark

    Show marketing remark (830 chars)

    Welcome to 31 Julian Place, A Fully Renovated Legal 2-Family in the Village of Island Park. Sitting on an oversized corner lot, this move-in ready property was thoughtfully designed throughout and presents multiple unique opportunities for both investors and end-users. Both units have an open concept floor plan with 3 bedrooms, 1.5 bathrooms, a custom chef’s kitchen with sleek cabinetry & ample counter space, & private laundry in-unit. Additional features include a fully finished basement with a spa-like bathroom, huge backyard space with endless potential waiting for the right buyer to make their own, & large driveway that can easily fit 4-5 vehicles making parking seamless. Conveniently located just blocks from the village, shops, restaurants, long island railroad, and beaches, this home has it all!

11. 2026-05-07
    price $879,994 830-char remark

    Show marketing remark (830 chars)

    Welcome to 31 Julian Place, A Fully Renovated Legal 2-Family in the Village of Island Park. Sitting on an oversized corner lot, this move-in ready property was thoughtfully designed throughout and presents multiple unique opportunities for both investors and end-users. Both units have an open concept floor plan with 3 bedrooms, 1.5 bathrooms, a custom chef’s kitchen with sleek cabinetry & ample counter space, & private laundry in-unit. Additional features include a fully finished basement with a spa-like bathroom, huge backyard space with endless potential waiting for the right buyer to make their own, & large driveway that can easily fit 4-5 vehicles making parking seamless. Conveniently located just blocks from the village, shops, restaurants, long island railroad, and beaches, this home has it all!

12. 2026-04-13
    listed $879,995 Active 830-char remark

    Show marketing remark (830 chars)

    Welcome to 31 Julian Place, A Fully Renovated Legal 2-Family in the Village of Island Park. Sitting on an oversized corner lot, this move-in ready property was thoughtfully designed throughout and presents multiple unique opportunities for both investors and end-users. Both units have an open concept floor plan with 3 bedrooms, 1.5 bathrooms, a custom chef’s kitchen with sleek cabinetry & ample counter space, & private laundry in-unit. Additional features include a fully finished basement with a spa-like bathroom, huge backyard space with endless potential waiting for the right buyer to make their own, & large driveway that can easily fit 4-5 vehicles making parking seamless. Conveniently located just blocks from the village, shops, restaurants, long island railroad, and beaches, this home has it all!

ⓘ 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: $10,750 · $896/mo
• Projected year-2 tax: $12,811 · $1,068/mo
• Expected delta: +$2,061/yr (+$172/mo · 19.2%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $101,400
• − Mortgage interest: −$49,293
• − Property taxes: −$10,750
• − Insurance: −$9,925
• − Repairs & maintenance: −$8,112
• − Management: −$8,112
• − Depreciation: −$25,600
• Taxable loss: −$10,392
• Est. tax savings @ 24.0%: +$2,494
• After-tax cash flow: $6,548/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: Island Park Union Free School District
• NCES district ID: 3615480
• Math proficiency: 43% ▼ -15.00%
• Reading proficiency: 62% ▲ 12.00%
• Median HH income: $78,138
• Composite: 47.47/100
• National rank: #2279
• State rank: #300 of 590 in NY

Livability — Island Park

• Score: 78/100
• State rank: #160
• US rank: #2453

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Island Park, NY
• County: Nassau County · 653,051 people
• City population: 8,454
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 8,454
• Household income: $111,032
• Rent vs Own: 32.6% rent · 67.4% own
• Severe rent burden: 371.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 15% Two or more races 8% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Romanian 4% American 4% Scotch-Irish 2%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 75% English-only · Spanish 12% Russian/Polish/Slavic 6% Other Indo-European 4%

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: ▼ -106.33%
• Current HPI: 326.289
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

-0.0% since first listed

3 events — show timeline

• 2026-05-14 Price Changed $879,993 OneKey® MLS as Distributed by MLS Grid
• 2026-05-07 Price Changed $879,994 OneKey® MLS as Distributed by MLS Grid
• 2026-04-13 Listed $879,995 OneKey® MLS as Distributed by MLS Grid

Property tax history

+4.7%/yr

Latest (2024): $10,750 · +21.8% YoY. Source: county tax records.