1004 N Broadway · North Massapequa, NY 11758

$928,000

6 bd · 4.0 ba · 2,420 sqft · MultiFamily public records · 40 Days on market

Built 1974 8,300 sqft lot $383/sqft · 30% below area Est $1332k · 30% 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 +8.3/30.0
• Schools +5.3/10.0
• Livability +3.8/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 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

Legal Two Family By C/O. One Apartment Has 3 Bed 2 Bath And Is Rented For $2300. Other Apartment Has 2 Bed With Access To Finished Garage And It Is Occupied By Owner. Rent Will Pay Off Your Mortgage. One Unit To Be Occupied By Owner. Corner Property In A Beautiful Neighborhood With Great Schools, Additional information: Appearance:Excellent,Separate Hotwater Heater:Yes

Key facts

• Private laundry
• Modern open layout
• 8,300 sq ft lot

Tags

• MODERN OPEN LAYOUT
• PRIVATE LAUNDRY
• WIDE OVERSIZED DRIVEWAY

Property features AI

Exterior

• Parking: Driveway; Two parking spaces; Two garage spaces
• Utilities: PSEG electric; Public sewer; Natural gas connected; Sewer connected; Water connected
• Home design: Duplex
• Construction: Vinyl-sided construction
• Exterior features: Vinyl siding; Not waterfront; No additional parcels

Interior

• Bedrooms: One 2-bedroom unit; One 3-bedroom unit
• Bathrooms: Three full bathrooms (total)
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 1×3.0bd/1.5ba + 1×2.0bd/1.0ba units multifamily listed at $928k.

Deal economics

• At list price, monthly cash flow is $-858 ($-10k/yr) — negative. Per door: $-429/mo.
• To cash-flow at today's rent, offer at most $777k (16.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $694k (25.2% below list).
• Recommended offer: $694k (25.2% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 2.8% in North Massapequa — 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 75/100 on livability (#264 in NY, #4,146 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: amenities F, cost of living F.
• Farmingdale Union Free School District (suburban): math 59% / reading 56% proficiency, ranked #210 of 590 in NY (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Albany Avenue Elementary School (math 57% / reading 67%, grade B, #675 of 2,108 statewide, top 35%, 507 students, 10% FRL); Howitt School (math 36% / reading 43%, grade F, #418 of 729 statewide, top 59%, 1,199 students, 22% FRL); Farmingdale Senior High School (math 92% / reading 67%, grade A-, #518 of 1,100 statewide, top 51%, 1,703 students, 23% FRL) — zoned schools at 19% FRL track the district average.
• Market conditions: 269 active listings in the ZIP; 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 $6k of loan paydown is wiped out by about $28k 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 40 days — a 3% lower offer ($900k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 12y 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 $674k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 62% 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 $693,700 (25.2% 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. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.75% ✗
• Cap rate: 5.18%
• Cash-on-cash: -3.96%
• DSCR: 0.82
• GRM: 11.1

CMA / ARV

• ARV (median comp): $1,331,634
• List price: $928,000
• Delta: -30.31%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -23.0%
• Equity multiple: 0.21×
• Total profit: $-204,932
• Equity at exit: $138,368

10-year hold

• IRR: -17.4%
• Equity multiple: 0.04×
• Total profit: $-248,540
• Equity at exit: $80,236

Cash invested: $259,840 (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 11758

• Active inventory: 269
• Price-to-rent: 22.1×

Monthly cashflow live

• Estimated rent: $6,937 medium
• Mortgage (P&I): −$4,867
• Tax from tax record: −$1,085 /mo · $13,014/yr
• Insurance: −$387
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,457
• Net cashflow: $-858

Break-even live

Break-even rent $8,022

Max offer price $776,519

Occupancy floor —

Sensitivity live

Price	-10% $-332	-5% $-595	+0% $-858	+5% $-1,120	+10% $-1,383
Rent	-10% $-1,406	-5% $-1,132	+0% $-858	+5% $-583	+10% $-309
Rate	-1.0pp $-390	-0.5pp $-621	base $-858	+0.5pp $-1,098	+1.0pp $-1,343

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

Units	Beds	Baths	Est. rent
1× unit	3.0	1.5	$3,500
1× unit	2.0	1	$3,437
Total (2 units)			$6,937

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: $232,000
• Closing costs: $27,840
• Reserves months: —
• Total cash needed: —

Listing history 40 events

1. 2026-06-15
   status $928,000 Pending 40 DOM
2. 2026-06-15
   days on market $928,000 Active 40 DOM
3. 2026-06-13
   days on market $928,000 Active 38 DOM
4. 2026-06-13
   days on market $928,000 Active 37 DOM
5. 2026-06-09
   days on market $928,000 Active 34 DOM
6. 2026-06-08
   days on market $928,000 Active 33 DOM
7. 2026-06-07
   days on market $928,000 Active 32 DOM
8. 2026-06-04
   days on market $928,000 Active 29 DOM
9. 2026-06-03
   days on market $928,000 Active 28 DOM
10. 2026-06-02
    days on market $928,000 Active 27 DOM
11. 2026-06-01
    days on market $928,000 Active 26 DOM
12. 2026-05-31
    days on market $928,000 Active 25 DOM
13. 2026-05-06
    listed $928,000 Active 885-char remark
14. 2023-03-15
    soldstatus $674,500
15. 2016-08-25
    soldstatus $440,000
16. 2016-08-15
    soldstatus $440,000 373-char remark

    Show marketing remark (298 chars)

    Legal Two Family By C/O. One Apartment Has 3 Bed 2 Bath And Is Rented For $2300. Other Apartment Has 2 Bed With Access To Finished Garage And It Is Occupied By Owner. Rent Will Pay Off Your Mortgage. One Unit To Be Occupied By Owner. Corner Property In A Beautiful Neighborhood With Great Schools

17. 2016-08-15
    soldstatus $440,000 Closed

    Show marketing remark (298 chars)

    Legal Two Family By C/O. One Apartment Has 3 Bed 2 Bath And Is Rented For $2300. Other Apartment Has 2 Bed With Access To Finished Garage And It Is Occupied By Owner. Rent Will Pay Off Your Mortgage. One Unit To Be Occupied By Owner. Corner Property In A Beautiful Neighborhood With Great Schools

18. 2016-07-16
    status Under Contract

    Show marketing remark (298 chars)

    Legal Two Family By C/O. One Apartment Has 3 Bed 2 Bath And Is Rented For $2300. Other Apartment Has 2 Bed With Access To Finished Garage And It Is Occupied By Owner. Rent Will Pay Off Your Mortgage. One Unit To Be Occupied By Owner. Corner Property In A Beautiful Neighborhood With Great Schools

19. 2016-06-01
    historical

    Show marketing remark (298 chars)

    Legal Two Family By C/O. One Apartment Has 3 Bed 2 Bath And Is Rented For $2300. Other Apartment Has 2 Bed With Access To Finished Garage And It Is Occupied By Owner. Rent Will Pay Off Your Mortgage. One Unit To Be Occupied By Owner. Corner Property In A Beautiful Neighborhood With Great Schools

20. 2016-04-30
    historical
21. 2016-03-21
    status Under Contract

    Show marketing remark (298 chars)

    Legal Two Family By C/O. One Apartment Has 3 Bed 2 Bath And Is Rented For $2300. Other Apartment Has 2 Bed With Access To Finished Garage And It Is Occupied By Owner. Rent Will Pay Off Your Mortgage. One Unit To Be Occupied By Owner. Corner Property In A Beautiful Neighborhood With Great Schools

22. 2016-02-02
    historical

    Show marketing remark (298 chars)

    Legal Two Family By C/O. One Apartment Has 3 Bed 2 Bath And Is Rented For $2300. Other Apartment Has 2 Bed With Access To Finished Garage And It Is Occupied By Owner. Rent Will Pay Off Your Mortgage. One Unit To Be Occupied By Owner. Corner Property In A Beautiful Neighborhood With Great Schools

23. 2016-01-13
    price $499,000

    Show marketing remark (298 chars)

    Legal Two Family By C/O. One Apartment Has 3 Bed 2 Bath And Is Rented For $2300. Other Apartment Has 2 Bed With Access To Finished Garage And It Is Occupied By Owner. Rent Will Pay Off Your Mortgage. One Unit To Be Occupied By Owner. Corner Property In A Beautiful Neighborhood With Great Schools

24. 2015-12-03
    price $509,000

    Show marketing remark (298 chars)

    Legal Two Family By C/O. One Apartment Has 3 Bed 2 Bath And Is Rented For $2300. Other Apartment Has 2 Bed With Access To Finished Garage And It Is Occupied By Owner. Rent Will Pay Off Your Mortgage. One Unit To Be Occupied By Owner. Corner Property In A Beautiful Neighborhood With Great Schools

25. 2015-10-30
    listed $519,000 New

    Show marketing remark (373 chars)

    Legal Two Family By C/O. One Apartment Has 3 Bed 2 Bath And Is Rented For $2300. Other Apartment Has 2 Bed With Access To Finished Garage And It Is Occupied By Owner. Rent Will Pay Off Your Mortgage. One Unit To Be Occupied By Owner. Corner Property In A Beautiful Neighborhood With Great Schools, Additional information: Appearance:Excellent,Separate Hotwater Heater:Yes

26. 2015-10-30
    listed $499,000 373-char remark

    Show marketing remark (373 chars)

    Legal Two Family By C/O. One Apartment Has 3 Bed 2 Bath And Is Rented For $2300. Other Apartment Has 2 Bed With Access To Finished Garage And It Is Occupied By Owner. Rent Will Pay Off Your Mortgage. One Unit To Be Occupied By Owner. Corner Property In A Beautiful Neighborhood With Great Schools, Additional information: Appearance:Excellent,Separate Hotwater Heater:Yes

27. 2015-10-30
    listed $479,777

    Show marketing remark (373 chars)

    Legal Two Family By C/O. One Apartment Has 3 Bed 2 Bath And Is Rented For $2300. Other Apartment Has 2 Bed With Access To Finished Garage And It Is Occupied By Owner. Rent Will Pay Off Your Mortgage. One Unit To Be Occupied By Owner. Corner Property In A Beautiful Neighborhood With Great Schools, Additional information: Appearance:Excellent,Separate Hotwater Heater:Yes

28. 2015-10-14
    historical
29. 2015-08-18
    listed $549,999
30. 2014-09-24
    soldstatus $315,000
31. 2014-09-09
    soldstatus $315,000 Closed
32. 2014-09-09
    soldstatus $315,000
33. 2014-08-11
    status Under Contract
34. 2014-06-23
    listed $329,900 New
35. 2014-06-22
    listed $329,900
36. 2013-04-03
    soldstatus $385,000
37. 2006-02-16
    soldstatus $805,000
38. 2005-06-28
    soldstatus $475,000
39. 2005-06-28
    soldstatus $750,000
40. 1985-04-25
    soldstatus $150,000

ⓘ 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: $13,014 · $1,085/mo
• Projected year-2 tax: $14,349 · $1,196/mo
• Expected delta: +$1,334/yr (+$111/mo · 10.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $83,244
• − Mortgage interest: −$51,982
• − Property taxes: −$13,014
• − Insurance: −$4,640
• − Repairs & maintenance: −$6,660
• − Management: −$6,660
• − Depreciation: −$26,996
• Taxable loss: −$26,708
• Est. tax savings @ 24.0%: +$6,410
• After-tax cash flow: $-3,880/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: Farmingdale Union Free School District
• NCES district ID: 3610980
• Math proficiency: 59% ▼ -6.00%
• Reading proficiency: 56% ▲ 3.00%
• Median HH income: $93,515
• Composite: 53.18/100
• National rank: #1505
• State rank: #210 of 590 in NY

Livability — North Massapequa

• Score: 75/100
• State rank: #264
• US rank: #4146

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Massapequa, NY
• Population (ZIP): 54,741

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 11% Two or more races 7% Black 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 2% Italian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -765.19%
• Current HPI: 287.8085
• 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

+518.7% since first listed

29 events — show timeline

• 2026-06-15 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-05-06 Listed $928,000 OneKey® MLS as Distributed by MLS Grid
• 2023-03-15 Sold (Public Records) $674,500 Public Records
• 2016-08-25 Sold (Public Records) $440,000 Public Records
• 2016-08-15 Sold (MLS) $440,000 OneKey® MLS as Distributed by MLS Grid
• 2016-08-15 Sold (MLS) $440,000 MLSLI
• 2016-07-16 Pending — MLSLI
• 2016-06-01 Delisted — MLSLI
• 2016-04-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-03-21 Pending — MLSLI
• 2016-02-02 Delisted — MLSLI
• 2016-01-13 Price Changed $499,000 MLSLI
• 2015-12-03 Price Changed $509,000 MLSLI
• 2015-10-30 Listed $519,000 MLSLI
• 2015-10-30 Listed $479,777 OneKey® MLS as Distributed by MLS Grid
• 2015-10-30 Listed $499,000 OneKey® MLS as Distributed by MLS Grid
• 2015-10-14 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-08-18 Listed $549,999 OneKey® MLS as Distributed by MLS Grid
• 2014-09-24 Sold (Public Records) $315,000 Public Records
• 2014-09-09 Sold (MLS) $315,000 OneKey® MLS as Distributed by MLS Grid
• 2014-09-09 Sold (MLS) $315,000 MLSLI
• 2014-08-11 Pending — MLSLI
• 2014-06-23 Listed $329,900 MLSLI
• 2014-06-22 Listed $329,900 OneKey® MLS as Distributed by MLS Grid
• 2013-04-03 Sold (Public Records) $385,000 Public Records
• 2006-02-16 Sold (Public Records) $805,000 Public Records
• 2005-06-28 Sold (Public Records) $750,000 Public Records
• 2005-06-28 Sold (Public Records) $475,000 Public Records
• 1985-04-25 Sold (Public Records) $150,000 Public Records

Property tax history

+1.8%/yr

Latest (2024): $13,014 · -8.6% YoY. Source: county tax records.