Btw, how do you have two accepted offers? Do you have very little good faith money at stake? As for Real Estate appreciation tools, Barbara Corcoran- a real estate mogul on Shark Tank- even she does not predict the future.
taxes, etc, Is it close to a commercial or busy street ie.Northern blvd or is it in a more private
location. Which one would sell quicker ten years from now. Talk to a neighbor and tell them you're considering buying the house next door ask about people in the neighborhood. I talked to my neighbor 22 years ago and we are now like family.
Since the zoning in Little Neck and Douglaston are mostly 1 fam. and only a few blocks are zoned for 2 Fam.
Litle Neck has the LIRR quick ride to NYC, where bay terrace has buses 1hr. + to NYC or a short bus ride to the LIRR Bayside Station. Renters do like walking to the LIRR and save the bus fare.
Also you shoud buy the one you like the most. Since you will be living there. Good Luck
Little Neck also has great schools, a walk to a nice water view in Douglaston, nearby shopping in Nassau and along Northern Blvd, and Peter Lugers and other chic shops nearby in Great Neck. But since you apparently want to rent it out and not personally enjoy the views- I would go wtih Little Neck. Why? Simple: the LIRR has a stop in Little Neck, and the MTA's ESA project will only make that more valuable in the future. Your renters more than likely will be working in Manhatten, and it will probably be easier to find people willing to shove in for a 30 minute commute to midtown than board an express bus for 1 hour.
But perhaps I am wrong, as I well could be, and since basically this is all a financial decision anyway, why not go onto Craigslist to get a feel for the asking rents of comparable properties in those two areas. If the prices for the two properties are similar, as are the number of units, the only difference would then be the amount of rent you could collect, and be taking an average on Craiglist might show you which area supports a higher rent.
My bet using this method is probably still Little Neck, but I'd be interested in knowing if I was right.
'03 ' 04 '05 '06 ' 07
Bayside +18.6 +9.6 + 8.8 -.05 -.05
Little Neck +22.0 +7.0 +4.8 -3.0 +36.0
Let me know if I can be of further assistance.