95 Wellesley St · Hempstead, NY 11550

$780,000

6 bd · 2.0 ba · 2,000 sqft · MultiFamily public records · 2 Days on market

Built 1960 4,000 sqft lot Est $738k · 6% over

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +22.0/30.0
• DSCR +7.0/10.0
• 1% rule +5.3/10.0
• ARV discount +4.9/15.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Gorgeous Legal 2-Family Newly Renovated Duplex - $56K Rent Roll. Investor House Only. Tenants Lease Intact. Comes Tenant Occupied., Additional information: Appearance:Good,Separate Hotwater Heater:Yes

Key facts

• 2 family property
• Separate utilities
• Newer windows

Tags

• 2 FAMILY PROPERTY
• SPACIOUS UNITS
• NEWER WINDOWS
• FULL UNFINISHED BASEMENT
• SEPARATE UTILITIES
• NEWER HEATING SYSTEMS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $780k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $620/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $780k).
• Cap rate 8.2% vs local median 5.1% in Hempstead — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 79/100 on livability (#123 in NY, #2,002 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: crime C-, cost of living F.
• Hempstead Union Free School District (suburban): math 27% / reading 38% proficiency, ranked #567 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Prospect Elementary School (414 students, 73% FRL); Alverta B Gray Schultz Middle School (math 11% / reading 27%, grade F, #688 of 729 statewide, top 94%, 938 students, 73% FRL); Hempstead High School (math 50% / reading 69%, grade C+, #851 of 1,100 statewide, top 80%, 1,866 students, 63% FRL) — zoned schools at 70% FRL track the district average.
• Market conditions: 170 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• At $8,025/mo this rent would consume 104% of the median local household income ($93k/yr) (locally 2535% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $23k of value loss. Plan a longer hold.
• Nassau County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $450k; list at $780k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; major wind risk, 58% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $780,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.81%
• DSCR: 1.30
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $738,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204-206 Cornell St	0.26mi	6/2.0	2,000 (0%)	7mo	$737,500	$369	82

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.9%
• Equity multiple: 0.78×
• Total profit: $-47,530
• Equity at exit: $116,301

10-year hold

• IRR: 3.8%
• Equity multiple: 1.27×
• Total profit: $60,003
• Equity at exit: $67,440

Cash invested: $218,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 11550

• Active inventory: 170
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $8,025 high
• Mortgage (P&I): −$4,090
• Tax from tax record: −$685 /mo · $8,223/yr
• Insurance: −$325
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,685
• Net cashflow: $1,239

Break-even live

Break-even rent $6,456

Max offer price $780,000

Occupancy floor 80%

Sensitivity live

Price	-10% $1,681	-5% $1,460	+0% $1,239	+5% $1,018	+10% $798
Rent	-10% $605	-5% $922	+0% $1,239	+5% $1,556	+10% $1,873
Rate	-1.0pp $1,632	-0.5pp $1,438	base $1,239	+0.5pp $1,037	+1.0pp $831

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$8,024
Total (2 units)			$8,025

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $195,000
• Closing costs: $23,400
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
168 Lenox Ave Uniondale, NY	5.0	2.0	1837	$5,900	$3.21	0d	1	1.08mi
363 Clarendon Rd Uniondale, NY	7.0	3.0	1434	$5,500	$3.84	46d	1	1.12mi
1077 Gerald St Uniondale, NY	6.0	3.0	1680	$5,950	$3.54	0d	1	1.30mi
54 Kane Ave Hempstead, NY	5.0	2.0	1750	$4,800	$2.74	46d	1	1.46mi

Listing history 11 events

1. 2026-04-24
   status Pending
2. 2026-04-22
   listed $780,000 Active
3. 2019-05-20
   soldstatus $450,000
4. 2019-04-23
   soldstatus $450,000 Closed 203-char remark

   Show marketing remark (203 chars)

   Gorgeous Legal 2-Family Newly Renovated Duplex - $56K Rent Roll. Investor House Only. Tenants Lease Intact. Comes Tenant Occupied., Additional information: Appearance:Good,Separate Hotwater Heater:Yes

5. 2019-02-27
   status Under Contract 203-char remark

   Show marketing remark (203 chars)

   Gorgeous Legal 2-Family Newly Renovated Duplex - $56K Rent Roll. Investor House Only. Tenants Lease Intact. Comes Tenant Occupied., Additional information: Appearance:Good,Separate Hotwater Heater:Yes

6. 2019-01-23
   listed $469,000 New 203-char remark

   Show marketing remark (203 chars)

   Gorgeous Legal 2-Family Newly Renovated Duplex - $56K Rent Roll. Investor House Only. Tenants Lease Intact. Comes Tenant Occupied., Additional information: Appearance:Good,Separate Hotwater Heater:Yes

7. 2019-01-21
   historical
8. 2018-10-10
   price $459,000
9. 2018-04-22
   listed $475,000 New
10. 2007-05-14
    soldstatus $514,100
11. 2006-07-07
    soldstatus $406,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $8,223 · $685/mo
• Projected year-2 tax: $10,702 · $892/mo
• Expected delta: +$2,480/yr (+$207/mo · 30.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $96,300
• − Mortgage interest: −$43,692
• − Property taxes: −$8,223
• − Insurance: −$3,900
• − Repairs & maintenance: −$7,704
• − Management: −$7,704
• − Depreciation: −$22,691
• Taxable income: $2,386
• Est. tax owed @ 24.0%: −$573
• After-tax cash flow: $14,297/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Hempstead Union Free School District
• NCES district ID: 3614130
• Math proficiency: 27% ▼ -4.00%
• Reading proficiency: 38% ▲ 5.00%
• Median HH income: $48,774
• Composite: 28.12/100
• National rank: #6821
• State rank: #567 of 590 in NY

Livability — Hempstead

• Score: 79/100
• State rank: #123
• US rank: #2002

Category grades

Amenities A+ Commute A+ Cost of living F Crime C- Employment A- Housing A- Health & safety A User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hempstead, NY
• County: Nassau County · 653,051 people
• City population: 60,960
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 60,960
• Household income: $92,677
• Rent vs Own: 50.3% rent · 49.7% own
• Severe rent burden: 2535.0

Population outlook (Nassau County) Hauer SSP2

• Today (2025): 1,409,302 people
• By 2030: 1,431,482 · +1.6%
• By 2040: 1,471,607 · +4.4%
• By 2050: 1,502,845 · +6.6%
• By 2075: 1,575,403 · +11.8%
• By 2100: 1,554,356 · +10.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Hispanic / Latino 44% Black 43% Two or more races 14% White 7% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Dominican 4%
• Common ancestry: Hispanic 4%
• Foreign-born: 37% · Canada, Jamaica
• Languages at home: 53% English-only · Spanish 40% French/Haitian/Cajun 4% Other Indo-European 1%

Political lean MEDSL · Nassau

• 2024 margin: Toss-up / Even · D 47.9% · R 52.1%
• 2008→2024 swing: -12.6pp toward R · 2008: 8.4pp · 2024: -4.2pp
• All cycles: 2024: R+4.2 2020: D+9.5 2016: D+5.3 2012: D+6.7 2008: D+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -297.72%
• Current HPI: 339.055
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+92.1% since first listed

11 events — show timeline

• 2026-04-24 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-22 Listed $780,000 OneKey® MLS as Distributed by MLS Grid
• 2019-05-20 Sold (Public Records) $450,000 Public Records
• 2019-04-23 Sold (MLS) $450,000 OneKey® MLS as Distributed by MLS Grid
• 2019-02-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-01-23 Listed $469,000 OneKey® MLS as Distributed by MLS Grid
• 2019-01-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-10-10 Price Changed $459,000 OneKey® MLS as Distributed by MLS Grid
• 2018-04-22 Listed $475,000 OneKey® MLS as Distributed by MLS Grid
• 2007-05-14 Sold (Public Records) $514,100 Public Records
• 2006-07-07 Sold (Public Records) $406,000 Public Records

Property tax history

+2.3%/yr

Latest (2024): $8,223 · +2.8% YoY. Source: county tax records.