Score
0Great Neck, NY
8 Meryl Ln
1.3M
5 beds
3 baths
2,727 sqft
5 bd • 3 ba • 2,727 sf
This analysis was generated on 2/22/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$1,290,000
Price/Sq.Ft
$473
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Location in Great Neck: Great Neck is a highly desirable area known for its excellent schools, safe neighborhoods, and convenient access to New York City. Great Neck consistently ranks among the top school districts in New York State, with graduation rates exceeding 95%.
• Large square footage: at 2,727 square feet, the property offers ample living space for a family or individuals who value spaciousness. The average home size in the United States is around 2,500 square feet, making this property larger than average.
• Five bedrooms and three bathrooms: the property's five bedrooms and three bathrooms provide ample accommodation for a family or for hosting guests. The average household size in Great Neck is approximately 3 people, suggesting that the property can comfortably accommodate a typical family.
• High median income area: Great Neck has a high median income of $129,479, indicating a strong local economy and a desirable demographic profile. The median household income in Great Neck is significantly higher than the national average of around $70,000.
• Proximity to New York City: Great Neck offers convenient access to New York City via the Long Island Rail Road (LIRR), making it an attractive location for commuters. The LIRR provides direct service to Penn Station, with travel times ranging from 25 to 35 minutes.
The Bad
• Lack of property details: the listing provides minimal information about the property's features, room details, and utility systems. This lack of transparency makes it difficult to assess the property's true value and potential.
• Unknown build year: the absence of a build year makes it challenging to estimate the property's condition and potential maintenance needs. Older homes may require significant repairs or upgrades to meet modern standards.
• High price per square foot: at $473.05 per square foot, the property's price is relatively high compared to the national average of around $250 per square foot. This high price point may deter some buyers.
• No property description: the absence of a property description leaves potential buyers with limited information about the property's unique features or selling points.
• No utility information: the lack of utility information makes it difficult to estimate monthly operating costs. Utility costs can vary significantly depending on the property's size, age, and energy efficiency.
The Ugly
• High purchase price: at $1,290,000, the property represents a significant financial investment. The average home price in Great Neck is around $900,000, making this property more expensive than average.
• Potential for high property taxes: Great Neck is known for its high property taxes, which can significantly increase the overall cost of homeownership. Nassau County, where Great Neck is located, has some of the highest property taxes in the United States.
• Unknown property condition: the lack of information about the property's age and condition raises concerns about potential maintenance or repair costs. Older homes may require significant renovations or upgrades to meet modern standards.
• Risk of bidding wars: Great Neck is a competitive real estate market, which can lead to bidding wars and potentially paying over asking price. This can drive up the final purchase price and make it more difficult for buyers to secure a property.
• Limited information and potentially outdated aesthetics: the outdated interior design elements suggest that significant renovations may be necessary to modernize the property and align it with current market trends. Renovation costs can range from $50,000 to $200,000 or more, depending on the scope of the project.
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
• Families prioritizing access to Great Neck's highly-rated public schools, as the area is known for its excellent educational institutions. The average Great Neck school spends $28,500 per student, compared to the national average of $15,100.
• Buyers seeking a suburban residential environment with convenient access to New York City via the Long Island Rail Road. The LIRR provides a direct commute to Penn Station, with travel times ranging from 25-35 minutes, depending on the specific train schedule.
• Individuals or families looking for a property with the potential for customization and renovation to suit their specific tastes and needs. Given that the year built is unknown, there is an opportunity to update and personalize the home.
• Buyers who prefer a larger home with ample space for a growing family or for hosting guests, given the property's 5 bedrooms and 3 bathrooms. The 2,727 square footage provides substantial living space compared to the average apartment size in New York City, which is approximately 700-900 square feet.
Not For
• Buyers seeking newly constructed or recently renovated homes with modern amenities and updated features. The unknown build year and lack of property details suggest that the property may require significant renovations.
• Individuals or families on a strict budget or those seeking affordable housing options. The high price point of $1,290,000 and the likely high property taxes in Great Neck make this property less accessible to budget-conscious buyers.
• Buyers who prefer low-maintenance properties with minimal upkeep and repair requirements. Given the unknown age of the property, there is a higher likelihood of needing repairs or updates to essential systems.
• Individuals who prioritize living in areas with low property taxes. Great Neck is known for its high property taxes, which can be a significant financial burden for homeowners.
• Buyers who desire detailed information about a property's features, room dimensions, and utility systems upfront. The limited details provided in the listing may deter those who prefer transparency and comprehensive information.
Demographics
Area Median Income
$129,479
Property History
Price History
Ownership Timeline
$1,290,000Financed
Nov 9, 2022Jian Han, Weiwei ShanJonathan Gad, Talia Topper
Bargain And Sale Deed
Standard Sale (Purchase/Resales)
$1,150,000Cash Purchase
Mar 27, 2020Jacob SamraJian Han, Wei Wei
Bargain And Sale Deed
Standard Sale (Purchase/Resales)
$760,000Cash Purchase
Apr 16, 2018Mark S Ricciardi EsqJacob Samra
Referee's Deed - Used To Transfer Property Pursuant To A Foreclosure Sale In New York Counties
Foreclosure
Sunlight Analysis
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Sunlight Analysis
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Financials
Monthly Costs
Market Rent (5 bed)
Get a detailed estimate on Zillow$1,680
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$1,290,000
Price/sqft
$473
Layout
5 bd•3 ba
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$1,125,533
14.6%
Your price is 14.6% above average
Median Price
$1,450,000
11.0%
Based on 6 recent sales
Price per Sq.Ft
$367
28.9%
Your price is 28.9% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 117 Kings Point Road, Great Neck, NY 11024 | $5,200 | 2,762 | 5 | 3 | $299.6% | 12/5/2024 |
| 4 Orchard Road, Great Neck, NY 11021 | $1,450,000 | 3,000 | 5 | 3 | $4832.2% | 12/5/2024 |
| 34 Strathmore Road, Great Neck, NY 11023 | $1,100,000 | 2,358 | 4 | 3 | $4661.4% | 12/5/2024 |
| 11 Hilltop Drive, Great Neck, NY 11021 | $1,648,000 | 3,180 | 6 | 4 | $5189.6% | 12/5/2024 |
| 22 Carriage Road, Great Neck, NY 11024 | $1,650,000 | N/A | 4 | 3 | N/A | 12/5/2024 |
| 2 Brown Road, Great Neck, NY 11024 | $900,000 | N/A | 4 | 3 | N/A | 12/5/2024 |
117 Kings Point Road, Great Neck, NY 11024
Price: $5,200
Sq.Ft: 2,762
Beds/Baths: 5/3
$/Sq.Ft:
$299.6%
Sale Date: 12/5/2024
4 Orchard Road, Great Neck, NY 11021
Price: $1,450,000
Sq.Ft: 3,000
Beds/Baths: 5/3
$/Sq.Ft:
$4832.2%
Sale Date: 12/5/2024
34 Strathmore Road, Great Neck, NY 11023
Price: $1,100,000
Sq.Ft: 2,358
Beds/Baths: 4/3
$/Sq.Ft:
$4661.4%
Sale Date: 12/5/2024
11 Hilltop Drive, Great Neck, NY 11021
Price: $1,648,000
Sq.Ft: 3,180
Beds/Baths: 6/4
$/Sq.Ft:
$5189.6%
Sale Date: 12/5/2024
22 Carriage Road, Great Neck, NY 11024
Price: $1,650,000
Sq.Ft: N/A
Beds/Baths: 4/3
$/Sq.Ft: N/A
Sale Date: 12/5/2024
2 Brown Road, Great Neck, NY 11024
Price: $900,000
Sq.Ft: N/A
Beds/Baths: 4/3
$/Sq.Ft: N/A
Sale Date: 12/5/2024
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