Home Buying in Bayside>Question Details

LI Home Buyer, Home Buyer in Nassau, NY

Bay Terrace (11360) vs. Little Neck (11362) - Queens, NY

Asked by LI Home Buyer, Nassau, NY Sat Mar 22, 2008

We currently have (2) two accepted offers: one in Bay Terrace (11360) and one in Little Neck (11362). Both are multi-family properties, over $900K. Can anyone offer some insider tips between these two communities? We love both and want to ensure we make a decision that will be a good long-term investment. Of course the listing agents are advising us that their property is the best (which I do understand is their job).

Also, is there an on-line tool that I can access which will project real estate appreciation or trends for certain areas? I checked the NYC www site but I don't think that's an accurate tool.

Thanks!

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7
Depends if a shopping mall (Bay Terrace) or a quick commute via LIRR (Little Neck) is what you desire. Bay Terrace is easier to get out of the city by way of Throgs Neck, while Little Neck has access to Long Island (high end) stores a few miles away. I think that Bay Terrace zoned High School is Bayside, while Little Neck is probably Cordoza, which is better. But if you have no kids or they are grown, it doesn't matter. Bay Terrace has a nice biking/running park along the edge of the bay and Crocheron Park, Little Neck is accessible to AlleyPond Park, although not right next to it.

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.
0 votes Thank Flag Link Sun Nov 18, 2012
Both are great areas. Pick the house that suits you depending on schools, railroad,
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.
0 votes Thank Flag Link Sun Nov 18, 2012
Both are great comunites, Bayside has a lot more multi-family properties, than Little Neck and Douglaston.
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
0 votes Thank Flag Link Thu Apr 14, 2011
Go with the house that you love the most, you have to live in it and be happy. Both areas are great. Compare the monthly rental as income and look at schools if this is important to you. If you are sitting on 3 offers, maybe you are not ready to buy at this time. I feel that you should pick a location first, than look for the house.Good Luck
0 votes Thank Flag Link Sun Jan 9, 2011
I just thought of something:

Will the numbers work if you stretch and do both?

Antolin
0 votes Thank Flag Link Sat Aug 23, 2008
Its a toss up between very good and great. Bay Terrace has some gorgeous views of the water, great shopping in the Bay Terrace Mall, Fort Totten Park, great schools like PS 209 where our kids attend, and express busses to NYC. The only thing it doesn't have is a nearby train.

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.
0 votes Thank Flag Link Sat Aug 23, 2008
Sharon, W/o specifying the streets which comprise Bayside Terrace, I'm left w/data for the whole of Bayside making a direct comparison w/Little Neck impossible. Nonetheless, price changes for 2-4 unit homes sold in Bayside and Little Neck for the last 5 years are below. (However, w/a yearly avg sold of 80 for Bayside and just 10 for Little Neck, the Little Neck #s are skewed due to a couple of very pricey properties .)

'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.

GerryV
vazquezgerry@yahoo.com
0 votes Thank Flag Link Sat Mar 22, 2008
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