Real Estate Investing in Great Neck, New York (11024)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 11024 (Great Neck, NY)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.6% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 39.7 — hard to cash-flow at these prices.
ⓘ Read the numbers with care
- Volatile values — home values moved more than 35% in one year; the trend line deserves skepticism.
What’s happening in Great Neck, NY (11024)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 11024 Great Neck
The 11024 ZIP covers a section of Great Neck that demands careful diligence. Prices near $2.4M look accessible, but the work to make a deal cash flow is real.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 11024 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Within NY, ZIP 11024 trails on several market indicators that neighboring Nassau County submarkets outperform. The gap is real and impressive enough to shape underwriting.
The 11024 ZIP's population of 8,821 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that clocks in at the need for careful underwriting.
Strategically, 11024 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Great Neck:
Property Strategy for 11024
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $1,147,320 | $4,190 | 2.6% | +8.6% | $382,440 |
| 4BR | $1,651,260 | $4,430 | 1.9% | +7.8% | $412,815 |
| 5BR | $3,334,256 | — | — | +7.4% | $666,851 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 11024 Compare?
| Metric | 11024 | Great Neck | New York |
|---|---|---|---|
| Home Value | $2,425,669 | $1,680,138 | $505,608 |
| 5-Year CAGR | 13.3% | 8.0% | 6.6% |
| Avg Rent | $5,095 | $4,976 | - |
| Cap Rate | 1.6% | 2.5% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 11024 (Great Neck, NY). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 11024 (Great Neck, NY)?
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Property managers serving Nassau County
Manage rentals here? List your business →Bell Realty Management, Inc. is a premier management company for apartment houses, retail, office, mixed-use, and various commercial properties in NYC and Long Island. summary from their website
Cain Realty Management Corp. is a family-owned and operated industrial and commercial property management company in Plainview, NY. summary from their website
Boraie Development creates and manages visionary communities in New Jersey's urban centers, focusing on transformative projects. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $2,425,669 |
| Monthly Rent | $5,095 |
| Price-to-Rent | 39.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.5% |
| Cap Rate | 1.6% |
| 5-Year IRR | 14.9% |
📈 Home Appreciation
| 1-Year | +36.2% ▲ |
| 3-Year CAGR | +18.6% ▲ |
| 5-Year CAGR | +13.3% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 11024
Population: 8,821
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 11024
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
GREAT NECK NORTH MIDDLE SCHOOL
SADDLE ROCK SCHOOL
E M BAKER SCHOOL
GREAT NECK NORTH HIGH SCHOOL
VILLAGE SCHOOL
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Does Great Neck, NY make sense for an investment property?
With a 3.0/5 investability score, Great Neck, NY ranks as a solid market for rental property investors. Median prices of $2.4M and rents of $5,095/mo drive the underlying numbers.
Where do rents currently stand in Great Neck, NY?
Investors in Great Neck, NY typically see rents near $5,095/mo per month against $2.4M home values - a solid setup for rental cash flow.
How tight is the rental market in Great Neck, NY?
Vacancy risk in Great Neck, NY is elevated. That supports stable cash flow for typical rental holds.
Is Great Neck, NY landlord-friendly?
NY law tenant-protective for landlords, and Great Neck inherits those rules. Investors should still review local ordinances for rental licensing.
What strategy should investors use in Great Neck, NY?
A careful cash-flow rentals with hands-on management strategy Great Neck, NY best. The market produces reliable results for that approach at the $2.4M price point.
You know 11024 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 11024 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 11024 ranks in New York-Newark-Jersey City, NY-NJ-PA
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