Spacious Freeport Co-op
For Sale
$235,000
Pending
194 Smith St 3P, Freeport, NY 11520
Bright one-bedroom co-op with updated features and amenities.
Property Size1,000 SF
Lot Size1.35 Acres
Days on Market336
Property Features for 194 Smith St 3P
General Information
Standard status
Pending
Size
1,000 SF
Lot size
1.35 Acres
Property subtype
Residential
Building Details
Building Size
1,000 SF
Year Built
1955
Listed By:
Mateou Thelusma
(516) 962-5145
Source:
Elliman
Added: Nov 27, 2025
Changed: Oct 26
Last Checked: Oct 28 at 10:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mateou Thelusma
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This spacious and bright one-bedroom co-op on Smith Street features a large living space and dining room in an L-shape. Crown moldings and hardwood floors are present throughout the unit. The kitchen includes a window, stainless steel appliances, granite countertops, and an open breakfast bar. Updated hi-hat lighting is installed, and the unit offers plenty of closet space, including a walk-in closet in the bedroom. An intercom is included in the unit. Building amenities feature a recently updated lobby and hallways, a laundry room, a mail area, and a bike room/storage room. The building is professionally landscaped with walkways. Street parking is available. Outdoor parking is offered for $35, and indoor garage parking is available for $55, subject to a waiting list.
Key Highlights
- Spacious 1 bedroom co‑op with large living space and dining room.
- Updated kitchen with stainless steel appliances, granite countertops, and breakfast bar**.
- Walk‑in closet in the bedroom and plenty of additional closet space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,837
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$356,740
$356.7K
Cap Rate 7%
$254,814
$254.8K
Cap Rate 9%
$198,189
$198.2K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$34.0K $33.96/SF
− Vacancy
−$1.5K −$1.53/SF
EGI
$32.4K $32.43/SF
− OpEx
−$14.6K −$14.59/SF
NOI
$17.8K $17.84/SF
Area
Nassau County, NY
Vacancy
4.50%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$356,740
Cap Rate 7%
$254,814
Cap Rate 9%
$198,189
Alternative Uses
Best Use
Apartment 5plus
$254.8K
$223.0K – $297.3K
NOI $17,837 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$661.2K
$578.5K – $771.4K
NOI $46,283 @ 7.0% cap · market cap 19.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
2,255
Businesses Nearby
Explore this area
Business Placement
Demographics for 11520, NY
45,121
Population
14,912
Households
3
Avg Household Size
39
Median Age
27%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
8,847
Density / Sq Mi
$119,407
Median Household Income
$47,475
Median Earnings
$1,984
Median Rent
$480,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Bright one-bedroom co-op with updated features and amenities.
Where is this apartment building located?
The property is located at 194 Smith St 3P Freeport, NY.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Spacious 1 bedroom co‑op with **large living space and dining room**.; Updated kitchen with stainless steel appliances, granite countertops, and breakfast bar**.; Walk‑in closet in the bedroom and plenty of additional closet space.
