28 Polo Rd · Great Neck, NY 11023

$2,100,000

5 bd · 4.5 ba · 3,874 sqft · SingleFamily public records · 82 Days on market

Built 1986 10,860 sqft lot $542/sqft · 15% below area Est $2465k · 15% under

---

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 +14.2/15.0
• Schools +7.6/10.0
• Cash flow +4.8/30.0
• Appreciation +4.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.2/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Huge brick Colonial offering approximately 3,900 sq ft of interior living space on a 10,860 sq ft lot. Welcoming cathedral foyer opens to an elegant living room and formal dining room, perfect for entertaining. The main level also features a den, eat-in kitchen, powder room, laundry room, and a guest bedroom with full bath, along with a two-car garage. The second floor offers four huge size bedrooms and three large full baths, including walking closets. Full basement provides additional storage or future living potential. Home is equipped with gas heat and central air conditioning. Also solar system installed 2017. Conveniently located within walking distance to schools, buses, and houses of worship.

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 1986

What this means for you Summary

Snapshot

• This is a 5-bed/4.5-bath single-family listed at $2.10M.

Deal economics

• At list price, monthly cash flow is $-5k ($-62k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.19M (43.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.10M (47.8% below list).
• Recommended offer: $1.10M (47.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#294 in NY, #4,766 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: housing C-, cost of living F.
• Great Neck Union Free School District (suburban): math 86% / reading 83% proficiency, ranked #30 of 590 in NY (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Market conditions: 50 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.5%/yr); year-one equity from $15k of loan paydown is wiped out by about $31k 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 82 days — a 6% lower offer ($1.97M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $500k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $475k; list at $2.10M implies a 342% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,096,670 (47.8% 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. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 48% concession, seller financing, or rate buy-down credit?
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 A-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. 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?
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 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: 0.52% ✗
• Cap rate: 3.33%
• Cash-on-cash: -10.56%
• DSCR: 0.53
• GRM: 16.0

CMA / ARV

• ARV (median comp): $2,464,658
• List price: $2,100,000
• Delta: -14.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
90 Old Pond Rd	0.16mi	6/3.5 (+1)	3,800 (-2%)	9mo	$2,288,888	$602	73
65 Clover Dr	0.43mi	4/4.5 (-1)	4,166 (+8%)	1mo	$2,375,000	$570	61
37 Devon Rd	0.69mi	5/4.5	3,829 (-1%)	11mo	$2,510,000	$656	57
1 Parkside Dr	0.45mi	4/4.0 (-1)	3,537 (-9%)	6mo	$1,926,000	$545	53
9 Orchard Rd	0.42mi	5/4.0	4,131 (+7%)	19mo	$2,260,000	$547	52
4 Winfield Ter	0.69mi	5/3.5	3,884 (+0%)	15mo	$2,785,000	$717	50
91 Beach Rd	0.30mi	4/4.0 (-1)	4,353 (+12%)	15mo	$2,370,000	$544	46
1 Devonshire Ln	0.68mi	4/4.0 (-1)	3,515 (-9%)	1mo	$2,900,000	$825	45
90 Baker Hill Rd	0.73mi	4/5.0 (-1)	3,400 (-12%)	4mo	$2,230,000	$656	35
53 Ruxton Rd	0.62mi	5/5.5	4,292 (+11%)	21mo	$2,330,000	$543	31
4 Sutton Ct	0.73mi	5/3.0	3,510 (-9%)	17mo	$2,400,000	$684	30

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

Projected returns pro-forma

-1.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -22.5%
• Equity multiple: 0.10×
• Total profit: $-531,044
• Equity at exit: $461,204

10-year hold

• IRR: -16.4%
• Equity multiple: -0.29×
• Total profit: $-760,306
• Equity at exit: $446,347

Cash invested: $588,000 (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 11023

• Home prices YoY: -0.5%
• Active inventory: 50
• Price-to-rent: 16.0×

Monthly cashflow live

• Estimated rent: $10,967 high
• Mortgage (P&I): −$11,013
• Tax from tax record: −$1,953 /mo · $23,433/yr
• Insurance: −$875
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,303
• Net cashflow: $-5,177

Break-even live

Break-even rent $17,520

Max offer price $1,185,510

Occupancy floor —

Sensitivity live

Price	-10% $-3,988	-5% $-4,582	+0% $-5,177	+5% $-5,771	+10% $-6,365
Rent	-10% $-6,043	-5% $-5,610	+0% $-5,177	+5% $-4,744	+10% $-4,310
Rate	-1.0pp $-4,119	-0.5pp $-4,643	base $-5,177	+0.5pp $-5,721	+1.0pp $-6,274

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: $525,000
• Closing costs: $63,000
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Parkside Dr Great Neck, NY	4.0	4.0	3537	$9,500	$2.69	45d	1	0.46mi
24 Warwick Rd Great Neck, NY	4.0	3.5	3177	$9,500	$2.99	3d	1	0.77mi
18 Pond Park Rd Great Neck, NY	4.0	4.5	2894	$10,800	$3.73	19d	1	0.84mi
11 Flower Ln Great Neck, NY	5.0	4.5	3134	$15,000	$4.79	11d	1	0.98mi
20 N Ravine Rd Great Neck, NY	6.0	5.5	4000	$12,500	$3.12	0d	1	1.15mi

Listing history 21 events

1. 2026-06-21
   days on market $2,100,000 Active 82 DOM
2. 2026-06-18
   price $2,100,000 Active 79 DOM
3. 2026-06-18
   days on market $2,299,000 Active 79 DOM
4. 2026-06-17
   days on market $2,299,000 Active 78 DOM
5. 2026-06-16
   days on market $2,299,000 Active 77 DOM
6. 2026-06-15
   days on market $2,299,000 Active 76 DOM
7. 2026-06-13
   days on market $2,299,000 Active 74 DOM
8. 2026-06-09
   days on market $2,299,000 Active 70 DOM
9. 2026-06-08
   days on market $2,299,000 Active 69 DOM
10. 2026-06-07
    days on market $2,299,000 Active 68 DOM
11. 2026-06-04
    days on market $2,299,000 Active 65 DOM
12. 2026-06-03
    days on market $2,299,000 Active 64 DOM
13. 2026-06-02
    days on market $2,299,000 Active 63 DOM
14. 2026-06-01
    days on market $2,299,000 Active 62 DOM
15. 2026-05-31
    days on market $2,299,000 Active 61 DOM
16. 2026-05-15
    price $2,299,000 709-char remark

    Show marketing remark (709 chars)

    Huge brick Colonial offering approximately 3,900 sq ft of interior living space on a 10,860 sq ft lot. Welcoming cathedral foyer opens to an elegant living room and formal dining room, perfect for entertaining. The main level also features a den, eat-in kitchen, powder room, laundry room, and a guest bedroom with full bath, along with a two-car garage. The second floor offers four huge size bedrooms and three large full baths, including walking closets. Full basement provides additional storage or future living potential. Home is equipped with gas heat and central air conditioning. Also solar system installed 2017. Conveniently located within walking distance to schools, buses, and houses of worship.

17. 2026-04-27
    price $2,426,000 709-char remark

    Show marketing remark (709 chars)

    Huge brick Colonial offering approximately 3,900 sq ft of interior living space on a 10,860 sq ft lot. Welcoming cathedral foyer opens to an elegant living room and formal dining room, perfect for entertaining. The main level also features a den, eat-in kitchen, powder room, laundry room, and a guest bedroom with full bath, along with a two-car garage. The second floor offers four huge size bedrooms and three large full baths, including walking closets. Full basement provides additional storage or future living potential. Home is equipped with gas heat and central air conditioning. Also solar system installed 2017. Conveniently located within walking distance to schools, buses, and houses of worship.

18. 2026-04-23
    status Active 709-char remark

    Show marketing remark (709 chars)

    Huge brick Colonial offering approximately 3,900 sq ft of interior living space on a 10,860 sq ft lot. Welcoming cathedral foyer opens to an elegant living room and formal dining room, perfect for entertaining. The main level also features a den, eat-in kitchen, powder room, laundry room, and a guest bedroom with full bath, along with a two-car garage. The second floor offers four huge size bedrooms and three large full baths, including walking closets. Full basement provides additional storage or future living potential. Home is equipped with gas heat and central air conditioning. Also solar system installed 2017. Conveniently located within walking distance to schools, buses, and houses of worship.

19. 2026-01-28
    listed $2,600,000 Active 709-char remark

    Show marketing remark (709 chars)

    Huge brick Colonial offering approximately 3,900 sq ft of interior living space on a 10,860 sq ft lot. Welcoming cathedral foyer opens to an elegant living room and formal dining room, perfect for entertaining. The main level also features a den, eat-in kitchen, powder room, laundry room, and a guest bedroom with full bath, along with a two-car garage. The second floor offers four huge size bedrooms and three large full baths, including walking closets. Full basement provides additional storage or future living potential. Home is equipped with gas heat and central air conditioning. Also solar system installed 2017. Conveniently located within walking distance to schools, buses, and houses of worship.

20. 1986-09-30
    soldstatus $475,000
21. 1985-11-08
    soldstatus $200,000

ⓘ 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: $23,433 · $1,953/mo
• Projected year-2 tax: $29,462 · $2,455/mo
• Expected delta: +$6,028/yr (+$502/mo · 25.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $131,600
• − Mortgage interest: −$117,633
• − Property taxes: −$23,433
• − Insurance: −$10,500
• − Repairs & maintenance: −$10,528
• − Management: −$10,528
• − Depreciation: −$61,091
• Taxable loss: −$102,113
• Est. tax savings @ 24.0%: +$24,507
• After-tax cash flow: $-37,614/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: Great Neck Union Free School District
• NCES district ID: 3612510
• Math proficiency: 86% ▬ 0.00%
• Reading proficiency: 83% ▬ 0.00%
• Median HH income: $99,939
• Composite: 76.19/100
• National rank: #111
• State rank: #30 of 590 in NY

Livability — Great Neck

• Score: 74/100
• State rank: #294
• US rank: #4766

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Great Neck, NY
• City population: 19,783
• Population (ZIP): 9,824

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 (74%)
• Race & ethnicity: White 74% Asian 17% Two or more races 4% Hispanic / Latino 2% Black 1%
• Common ancestry: Romanian 5% Scotch-Irish 4% Italian 1%
• Foreign-born: 29% · China, Canada, Dominican Republic
• Languages at home: 57% English-only · Other Indo-European 17% Chinese 10% Other Asian/Pacific 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: ▼ -1.46%
• Current HPI: 274.3808
• 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

+1049.5% since first listed

6 events — show timeline

• 2026-05-15 Price Changed $2,299,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-27 Price Changed $2,426,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-23 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-01-28 Listed $2,600,000 OneKey® MLS as Distributed by MLS Grid
• 1986-09-30 Sold (Public Records) $475,000 Public Records
• 1985-11-08 Sold (Public Records) $200,000 Public Records

Property tax history

+2.8%/yr

Latest (2024): $23,433 · +7.3% YoY. Source: county tax records.