2449I Union Blvd Unit 34A · Islip, NY 11751

$269,990

1 bd · 1.0 ba · 880 sqft · Condo · 17 Days on market

Built 1975 Good condition $307/sqft · at area comps Est $275k · at est. ↓ 2% since listing

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Why this score? — see what drove the F 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 +8.4/15.0
• 1% rule +5.9/10.0
• Schools +5.5/10.0
• Cash flow +4.3/30.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Pristinely Custom renovation with all the bells and whistles Large 880 sq ft 1br Deluxe Ground level Unit, oak floors through under water proof Vinyl flooring out quart counters bonus room office/nursery, large br ample closets, Washer/Dryer Combo 2 Brand new Air conditioners. In ground pool is salt water and heated! National cooperative bank offers financing this complex with 20% down -2449 34A--Pristinely Custom renovation with all the bells and whistles Large 850 sq ft National cooperative bank offers financing this complex 10% down.

Key facts

• Community pool
• Built 1975
• Listed 17 days

Property features AI

Finance

• HOA & community: Monthly association fee; Association covers common area maintenance, pool service, trash, and other services

Exterior

• Parking: Common parking lot (no carport)
• Utilities: Public sewer; Cable connected; Electricity connected; Natural gas connected; Phone available; Trash collection (private)
• Home design: Stock cooperative; Two-story building; Entry level: 1st floor; Property listed as actual condition; fixer
• Construction: Block and brick construction
• Exterior features: Community pool; Playground; Not waterfront

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Unit includes bedrooms on the first floor
• Bathrooms: One full bathroom
• Heating & cooling: Hot water heating (natural gas); Wall/Window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Entrance foyer; Formal dining area; Galley-style kitchen; Dining area; Home office; No basement; Pets allowed
• Laundry & utility: In-unit washer and dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $270k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-717 ($-9k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $270k).
• Recommended offer: $266k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 83/100 on livability (#59 in NY, #878 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• Islip Union Free School District (suburban): math 52% / reading 67% proficiency, ranked #186 of 590 in NY (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Wing Elementary School (379 students, 35% FRL); Islip Middle School (math 32% / reading 52%, grade D-, #379 of 729 statewide, top 54%, 641 students, 37% FRL); Islip High School (math 88% / reading 93%, grade A+, #231 of 1,100 statewide, top 21%, 892 students, 33% FRL) — zoned schools average 35% FRL vs 20% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 87 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $8k 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 17 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 40% of rent.
• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $265,940 (1.5% 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 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.09% ✓
• Cap rate: 3.11%
• Cash-on-cash: -11.38%
• DSCR: 0.49
• GRM: 7.7

CMA / ARV

• ARV (median comp): $275,453
• List price: $269,990
• Delta: -1.98%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -36.6%
• Equity multiple: -0.17×
• Total profit: $-88,632
• Equity at exit: $40,256

10-year hold

• IRR: -48.1%
• Equity multiple: -0.76×
• Total profit: $-132,862
• Equity at exit: $23,344

Cash invested: $75,597 (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 11751

• Active inventory: 87
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,931 high
• Mortgage (P&I): −$1,416
• Tax est. 1.5%: −$337 /mo · $4,050/yr
• Insurance: −$112
• HOA est. from 4 same-building comps: −$1,166
• Vacancy / Maint / Mgmt: −$615
• Net cashflow: $-717

Break-even live

Break-even rent $3,838

Max offer price $166,291

Occupancy floor —

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: $67,498
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
584 Main St Unit 5 Islip, NY	2.0	2.0	995	$3,900	$3.92	44d	1	0.54mi
584 Main St Unit 1 Islip, NY	1.0	1.0	620	$3,150	$5.08	2d	1	0.54mi
405 E Main St Bay Shore, NY	2.0	1.0–2.0	750	$2,485	$3.31	44d	1	0.69mi
35 Penataquit Ave Bay Shore, NY	2.0	1.0–1.5	637	$2,605	$4.09	1d	14	0.87mi
700 Justine Ct Bay Shore, NY	1.0	1.0	625	$2,195	$3.51	21d	5	0.98mi
39 Bay Shore Ave Bay Shore, NY	1.0	1.0	544	$2,400	$4.41	44d	1	1.41mi
309 Brook Ave Unit 309-1A Bay Shore, NY	1.0	1.0	700	$2,415	$3.45	15d	1	1.49mi

HOA detail condo

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

Listing history 5 events

1. 2026-05-11
   listed $269,990 Active 544-char remark
2. 2026-05-11
   historical $269,990 544-char remark
3. 2026-05-03
   historical
4. 2026-03-06
   price $269,500
5. 2026-02-11
   listed $275,000 Active

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $35,168
• − Mortgage interest: −$15,124
• − Property taxes: −$4,050
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,813
• − Management: −$2,813
• − HOA: −$13,992
• − Depreciation: −$7,854
• Taxable loss: −$12,829
• Est. tax savings @ 24.0%: +$3,079
• After-tax cash flow: $-5,521/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 · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained, recently renovated condo is move-in ready with modern updates and a good condition score.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Upgrading window treatments — Improves energy efficiency and enhances curb appeal
• Both Adding smart home features — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Upgrading window treatments — Improves energy efficiency and enhances curb appeal ↑
• Both Adding smart home features — Enhances convenience and marketability ↑

ⓘ 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: Islip Union Free School District
• NCES district ID: 3615540
• Math proficiency: 52% ▼ -7.00%
• Reading proficiency: 67% ▲ 10.00%
• Median HH income: $92,825
• Composite: 54.7/100
• National rank: #1325
• State rank: #186 of 590 in NY

Livability — Islip

• Score: 83/100
• State rank: #59
• US rank: #878

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Islip, NY
• City population: 13,152
• Population (ZIP): 13,152

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 15% Two or more races 9% Asian 5% Black 3%
• Hispanic origin (detail): Puerto Rican 7%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 8% · Canada, China, Jamaica
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Suffolk

• 2024 margin: Lean R (+10.0) · D 45.0% · R 55.0%
• 2008→2024 swing: -16.0pp toward R · 2008: 6.0pp · 2024: -10.0pp
• All cycles: 2024: R+10.0 2020: R+0.0 2016: R+8.2 2012: D+2.9 2008: D+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -368.19%
• Current HPI: 288.0267
• 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

-1.8% since first listed

6 events — show timeline

• 2026-05-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-05-11 Listed $269,990 OneKey® MLS as Distributed by MLS Grid
• 2026-05-11 Coming Soon $269,990 OneKey® MLS as Distributed by MLS Grid
• 2026-05-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-03-06 Price Changed $269,500 OneKey® MLS as Distributed by MLS Grid
• 2026-02-11 Listed $275,000 OneKey® MLS as Distributed by MLS Grid