Score
0Elmont, NY
150 Louis Avenue
629K
3 beds
2 baths
954 sqft
3 bd • 2 ba • 954 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$628,500
Price/Sq.Ft
$659
Year Built
1913
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 150 Louis Avenue, Elmont, NY offers several attractive features:
1. Large lot size: At 77.53 x 87 feet (approximately 6,745 sq ft), this lot is significantly larger than the average in Elmont, providing ample space for expansion or new construction.
2. Location: The property is conveniently located just 0.2 miles from Floral Park Memorial High School (rated 7/10) and 0.7 miles from Clara H Carlson School (rated 6/10), making it ideal for families with school-age children.
3. Investment potential: The property has shown significant appreciation, increasing from $80,000 in 2000 to the current price of $628,500, representing a 685% increase over 24 years (approximately 9.2% annualized return).
4. Development opportunity: The "as-is" sale and large lot size present an excellent opportunity for investors or homeowners looking to expand or build new, potentially increasing the property's value substantially.
5. Rental potential: With a median income of $107,088 in the area and three-bedroom rental rates at $3,078/month (2023 data), there's potential for a strong rental yield if renovated.
6. Charm and character: Built in 1913, the home likely has unique architectural features and historical charm that can be appealing to certain buyers.
7. Essential features: The property includes desirable features like an eat-in kitchen, master bedroom downstairs, and a primary bathroom, which are sought-after amenities.
8. Utility systems: The home has natural gas and public trash collection, which are conveniences many buyers appreciate.
The Bad
1. Age and condition: Built in 1913, the home is 111 years old, which likely means significant wear and potential for major system failures. The "as-is" sale suggests possible deferred maintenance or needed repairs.
2. Size constraints: At 954 sq ft, the home is smaller than many modern families prefer, potentially limiting the buyer pool.
3. High price per square foot: At $658.81/sq ft, it's priced significantly higher than the Elmont average, which typically ranges from $400-$500/sq ft.
4. Extended time on market: With 163 days listed, the property is experiencing difficulty selling, possibly due to overpricing or condition issues.
5. Limited modern amenities: The property lacks features like central air conditioning, which is increasingly expected in this price range.
6. Potential zoning restrictions: Expanding or rebuilding may be subject to local zoning laws and historical preservation requirements, given the home's age.
7. High property taxes: While specific tax information isn't provided, Nassau County is known for high property taxes, which could significantly increase the total cost of ownership.
8. Outdated systems: Given its age, the home likely has outdated electrical, plumbing, and HVAC systems that may require costly upgrades.
The Ugly
1. Major climate risks: The property has significant climate-related concerns:
- Flood risk is MAJOR (6/10) with critical insurance implications.
- Heat risk is MAJOR (6/10) with 7 extremely hot days per year.
- Wind risk is MAJOR (6/10) with critical insurance implications.
These risks could lead to substantially higher insurance premiums and potential property damage.
2. Potential structural issues: Given the age of the home (111 years), there's a high likelihood of foundational problems, outdated wiring, plumbing issues, and possible presence of hazardous materials like lead paint or asbestos.
3. High renovation costs: Modernizing this century-old home could be extremely expensive. A full renovation could easily exceed $200,000-$300,000, potentially making the total investment uneconomical relative to market values.
4. Pricing volatility: The property's price history shows extreme fluctuations (e.g., listed at $1,975 in 2008), suggesting potential market instability or data errors that warrant further investigation.
5. Carrying costs during renovation: If extensive work is needed, the buyer may face significant holding costs (mortgage, taxes, insurance) without the ability to occupy or rent the property.
6. Potential zoning challenges: The suggestion to "Build New" may face hurdles with local zoning laws, especially if the area has historical preservation requirements.
7. Environmental concerns: The property's age increases the risk of soil contamination from old fuel tanks or other historical uses, which could be extremely costly to remediate.
8. Financing difficulties: The condition and age of the home may make it challenging to secure traditional financing, potentially limiting the buyer pool to cash investors or those qualifying for specialized renovation loans.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for:
1. Experienced real estate investors with significant renovation experience and capital reserves. They can leverage the large lot size and potential for expansion or new construction to maximize return on investment.
2. Contractors or construction professionals who can personally handle major renovations, significantly reducing labor costs.
3. Historic home enthusiasts with the financial means to restore a century-old property, appreciating its unique character and willing to invest in preserving its heritage.
4. Land developers interested in the lot's potential, possibly for multi-unit development (subject to zoning regulations).
5. Local residents familiar with Elmont's market and community, who value the location near quality schools and can see past the current condition.
6. Buyers with a household income of $200,000+ who can comfortably afford the purchase price, high property taxes, and extensive renovation costs.
7. Patient long-term investors looking to benefit from potential appreciation due to the Belmont Park redevelopment and overall market growth in the area.
8. Risk-tolerant buyers who are prepared for the challenges of owning a property with significant climate risks and are willing to invest in mitigation strategies.
Not For
This property is not suitable for:
1. First-time homebuyers or those with limited budgets, due to the high purchase price and extensive renovation needs.
2. Families needing immediate move-in ready accommodation, as the property likely requires significant work before being habitable.
3. Buyers sensitive to climate risks, given the major flood, heat, and wind risks associated with the property.
4. Investors seeking a quick flip or immediate rental income, as the property will require substantial time and investment before generating returns.
5. Those without experience in major renovations or new construction, as the property's condition and potential for expansion require specialized knowledge.
6. Buyers with limited cash reserves, as the property may be difficult to finance conventionally and will require significant additional investment.
7. Individuals looking for modern amenities and energy efficiency, as bringing this century-old home up to current standards could be prohibitively expensive.
8. Risk-averse investors, due to the multiple layers of risk including market volatility, climate hazards, and potential structural issues.
9. Buyers looking for a low-maintenance property, as this home will likely require ongoing care and attention due to its age and condition.
10. Those unable to afford or unwilling to pay high insurance premiums, given the critical flood and wind risk ratings.
Demographics
Area Median Income
$107,088
Property History
Price History
Ownership Timeline
$16,000Cash Purchase
Jun 29, 2000E & O Alexander Pantoja Kerins Richard PRonald Boughton
Deed
Non-Residential Arm's Length Transactions
$80,000Cash Purchase
Jun 29, 2000E & O Alexander Pantoja Kerins Richard TPeter Caruso
Deed
Standard Sale (Purchase/Resales)
Property Taxes
$0
2023 Tax Assessment
Assessed Value$330
Tax Rate0.00%
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
6.0/10
GoodMiddle
7.0/10
GoodFinancials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$2,123
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$628,500
Price/sqft
$659
Layout
3 bd•2 ba
Days on market
163 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$551,667
13.9%
Your price is 13.9% above average
Median Price
$570,000
10.3%
Based on 6 recent sales
Price per Sq.Ft
$525
25.5%
Your price is 25.5% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 65 Sterling Road, Elmont, NY 11003 | $510,000 | 932 | 2 | 2 | $54716.9% | 12/5/2024 |
| 146 Stone Street, Elmont, NY 11003 | $415,000 | 1,000 | 2 | 2 | $41537.0% | 12/5/2024 |
| 13 Nelson Street, Elmont, NY 11003 | $570,000 | 1,024 | 3 | 2 | $55715.5% | 12/5/2024 |
| 29 Landau Avenue, Elmont, NY 11003 | $608,000 | 1,110 | 4 | 2 | $54816.9% | 12/5/2024 |
| 372 Marguerite Avenue, South Floral Park, NY 11001 | $507,000 | 1,129 | 3 | 2 | $44931.8% | 12/5/2024 |
| 552 Ridge Road, Elmont, NY 11003 | $700,000 | 1,107 | 3 | 2 | $6324.0% | 7/30/2024 |
65 Sterling Road, Elmont, NY 11003
Price: $510,000
Sq.Ft: 932
Beds/Baths: 2/2
$/Sq.Ft:
$54716.9%
Sale Date: 12/5/2024
146 Stone Street, Elmont, NY 11003
Price: $415,000
Sq.Ft: 1,000
Beds/Baths: 2/2
$/Sq.Ft:
$41537.0%
Sale Date: 12/5/2024
13 Nelson Street, Elmont, NY 11003
Price: $570,000
Sq.Ft: 1,024
Beds/Baths: 3/2
$/Sq.Ft:
$55715.5%
Sale Date: 12/5/2024
29 Landau Avenue, Elmont, NY 11003
Price: $608,000
Sq.Ft: 1,110
Beds/Baths: 4/2
$/Sq.Ft:
$54816.9%
Sale Date: 12/5/2024
372 Marguerite Avenue, South Floral Park, NY 11001
Price: $507,000
Sq.Ft: 1,129
Beds/Baths: 3/2
$/Sq.Ft:
$44931.8%
Sale Date: 12/5/2024
552 Ridge Road, Elmont, NY 11003
Price: $700,000
Sq.Ft: 1,107
Beds/Baths: 3/2
$/Sq.Ft:
$6324.0%
Sale Date: 7/30/2024
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