175 Main Ave #156 · Wheatley Heights, NY 11798

$239,000

1 bd · 1.0 ba · 933 sqft · Condo · 65 Days on market

Built 1974 Average condition $256/sqft · 8% below area Est $259k · 8% 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 +21.2/30.0
• ARV discount +11.0/15.0
• Schools +7.2/10.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Livability +3.8/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 1 bedroom with open floor plan and new carpeting and flooring throughout. Freshly painted with great natural light and new windows. All outlets and switches have been updated. Conveniently located for access to trains and parkways. Well kept grounds offer a relaxing parklike feel.

Key facts

• Updated switches
• Open floor plan
• New carpeting

Tags

• OPEN FLOOR PLAN
• NEW CARPETING
• NEW WINDOWS
• UPDATED OUTLETS
• UPDATED SWITCHES
• WELL KEPT GROUNDS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $239k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $239k).
• Recommended offer: $225k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#275 in NY, #4,351 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: schools D, amenities F, cost of living F.
• Half Hollow Hills Central School District (suburban): math 79% / reading 75% proficiency, ranked #41 of 590 in NY (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 11% free/reduced lunch — higher-income household profile.
• Market conditions: 82 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($225k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 63% 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 $224,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 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 1974 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.06% ✓
• Cap rate: 8.02%
• Cash-on-cash: 6.18%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (median comp): $259,123
• List price: $239,000
• Delta: -7.77%
• Verdict: FAIR
• Comps: 13 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -6.7%
• Equity multiple: 0.75×
• Total profit: $-16,724
• Equity at exit: $35,636

10-year hold

• IRR: 2.9%
• Equity multiple: 1.21×
• Total profit: $13,877
• Equity at exit: $20,664

Cash invested: $66,920 (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 11798

• Active inventory: 82
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,527 medium
• Mortgage (P&I): −$1,253
• Tax est. 1.5%: −$299 /mo · $3,585/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$531
• Net cashflow: $345

Break-even live

Break-even rent $2,091

Max offer price $239,000

Occupancy floor 81%

Sensitivity live

Price	-10% $510	-5% $427	+0% $345	+5% $262	+10% $180
Rent	-10% $145	-5% $245	+0% $345	+5% $445	+10% $545
Rate	-1.0pp $465	-0.5pp $406	base $345	+0.5pp $283	+1.0pp $220

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 Colonial Springs Rd Wheatley Heights, NY	1.0	1.0	616	$2,280	$3.70	13d	5	0.35mi
31 Perry Ln Wheatley Heights, NY	2.0	1.0	1000	$2,850	$2.85	24d	1	0.64mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-18
   days on market $239,000 Active 65 DOM
2. 2026-06-17
   days on market $239,000 Active 64 DOM
3. 2026-06-16
   days on market $239,000 Active 63 DOM
4. 2026-06-15
   days on market $239,000 Active 62 DOM
5. 2026-06-13
   days on market $239,000 Active 60 DOM
6. 2026-06-13
   days on market $239,000 Active 59 DOM
7. 2026-06-09
   days on market $239,000 Active 56 DOM
8. 2026-06-08
   days on market $239,000 Active 55 DOM
9. 2026-06-07
   days on market $239,000 Active 54 DOM
10. 2026-06-04
    days on market $239,000 Active 51 DOM
11. 2026-06-03
    days on market $239,000 Active 50 DOM
12. 2026-06-02
    days on market $239,000 Active 49 DOM
13. 2026-06-01
    days on market $239,000 Active 48 DOM
14. 2026-05-31
    days on market $239,000 Active 47 DOM
15. 2026-04-04
    listed $239,000 Active 290-char remark

    Show marketing remark (290 chars)

    Spacious 1 bedroom with open floor plan and new carpeting and flooring throughout. Freshly painted with great natural light and new windows. All outlets and switches have been updated. Conveniently located for access to trains and parkways. Well kept grounds offer a relaxing parklike feel.

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,328
• − Mortgage interest: −$13,388
• − Property taxes: −$3,585
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,426
• − Management: −$2,426
• − Depreciation: −$6,953
• Taxable income: $355
• Est. tax owed @ 24.0%: −$85
• After-tax cash flow: $4,054/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.

Condition & rehab AI · 4 photos

Average 55/100 Cosmetic rehab

A well-maintained townhouse with cosmetic updates and potential for significant value increase through exterior painting and bathroom renovation.

Repairs flagged

• Minor exterior paint — Some discoloration
• Major bathroom tiles — Yellow tiles need replacement

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace bathroom tiles — Modernizes the space and improves functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Some discoloration	Minor	$500–3,000
bathroom tiles · Yellow tiles need replacement	Major	$15,000–50,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace bathroom tiles — Modernizes the space and improves functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Half Hollow Hills Central School District
• NCES district ID: 3613290
• Math proficiency: 79% ▲ 1.00%
• Reading proficiency: 75% ▲ 5.00%
• Median HH income: $120,022
• Composite: 71.89/100
• National rank: #215
• State rank: #41 of 590 in NY

Livability — Wheatley Heights

• Score: 75/100
• State rank: #275
• US rank: #4351

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wheatley Heights, NY

Population outlook (Suffolk County) Hauer SSP2

• Today (2025): 1,505,262 people
• By 2030: 1,498,318 · -0.5%
• By 2040: 1,471,101 · -2.3%
• By 2050: 1,424,848 · -5.3%
• By 2075: 1,337,157 · -11.2%
• By 2100: 1,217,720 · -19.1%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: ▼ -296.70%
• Current HPI: 285.1922
• 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

1 event — show timeline

• 2026-04-04 Listed $239,000 OneKey® MLS as Distributed by MLS Grid