26 Sycamore St · West Hempstead, NY 11552

$300,000

None bd · 2.0 ba · 1,798 sqft · MultiFamily public records

Built 1918 6,000 sqft lot

---

Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +4.3/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

SHORT SALE, SOLD AS IS, SUBJECT TO BANK APPROVAL

Key facts

• 6,000 sq ft lot
• Built 1918

What this means for you Summary

Snapshot

• This is a ?-bed/2.0-bath multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $4k ($47k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $300k).
• Cap rate 21.9% vs local median 3.8% in West 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 86/100 on livability (#19 in NY, #382 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• West Hempstead Union Free School District (suburban): math 54% / reading 63% proficiency, ranked #191 of 590 in NY (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: George Washington School (math 39% / reading 54%, grade D+, #330 of 729 statewide, top 46%, 336 students, 48% FRL); West Hempstead Secondary School (math 92% / reading 92%, grade A+, #171 of 1,100 statewide, top 18%, 783 students, 50% FRL) — zoned schools average 49% FRL vs 29% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 101 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• At $8,011/mo this rent would consume 62% of the median local household income ($155k/yr) (locally 208% 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 $2k of loan paydown is wiped out by about $9k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 13y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 54% 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 $300,000

Questions for the listing agent

1. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 2.67% ✓
• Cap rate: 21.87%
• Cash-on-cash: 55.63%
• DSCR: 3.48
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $1,015,870
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
447 Birch St	0.63mi	3/2.0	1,574 (-12%)	12mo	$890,000	$565	40

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: 54.0%
• Equity multiple: 3.38×
• Total profit: $199,733
• Equity at exit: $44,731

10-year hold

• IRR: 59.1%
• Equity multiple: 6.89×
• Total profit: $494,660
• Equity at exit: $25,939

Cash invested: $84,000 (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 11552

• Active inventory: 101
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $8,011 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$737 /mo · $8,839/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,682
• Net cashflow: $3,894

Break-even live

Break-even rent $3,082

Max offer price $300,000

Occupancy floor 46%

Sensitivity live

Price	-10% $4,064	-5% $3,979	+0% $3,894	+5% $3,809	+10% $3,724
Rent	-10% $3,261	-5% $3,577	+0% $3,894	+5% $4,210	+10% $4,527
Rate	-1.0pp $4,045	-0.5pp $3,970	base $3,894	+0.5pp $3,816	+1.0pp $3,737

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$8,012
Total (2 units)			$8,011

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
111 Hempstead Tpke West Hempstead, NY	3.0	1.0–2.5	1226	$5,539	$4.52	0d	88	0.37mi
130 Hempstead Ave West Hempstead, NY	1.0–3.0	1.0–2.0	1113	$4,550	$4.09	0d	6	0.43mi
281 Dogwood Ave West Hempstead, NY	2.0	1.0	2400	$3,500	$1.46	0d	1	0.82mi
849 Taft St West Hempstead, NY	2.0	1.0	1368	$2,500	$1.83	14d	1	1.31mi
111 Virginia Ave Hempstead, NY	1.0	1.0	1274	$1,200	$0.94	9d	1	1.36mi
44 Hilton Ave Unit C2 Garden City, NY	2.0	1.0	1345	$2,750	$2.04	12d	1	1.40mi

Listing history 14 events

1. 2024-12-05
   historical
2. 2024-11-01
   status Active
3. 2024-10-09
   listed $300,000 Active
4. 2024-09-11
   listed $300,000
5. 2018-09-14
   historical
6. 2018-09-11
   listed $280,000 New
7. 2017-08-08
   historical
8. 2017-07-03
   status Under Contract
9. 2017-06-15
   listed $295,000 New
10. 2015-01-15
    historical
11. 2013-09-08
    historical
12. 2013-09-08
    listed $295,000
13. 2007-11-21
    soldstatus $425,000
14. 1981-07-01
    soldstatus $20,000

ⓘ 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: $8,839 · $737/mo
• Projected year-2 tax: $8,839 · $737/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 54% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $96,132
• − Mortgage interest: −$16,805
• − Property taxes: −$8,839
• − Insurance: −$1,500
• − Repairs & maintenance: −$7,691
• − Management: −$7,691
• − Depreciation: −$8,727
• Taxable income: $44,880
• Est. tax owed @ 24.0%: −$10,771
• After-tax cash flow: $35,955/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: West Hempstead Union Free School District
• NCES district ID: 3630660
• Math proficiency: 54% ▼ -3.00%
• Reading proficiency: 63% ▲ 7.00%
• Median HH income: $98,641
• Composite: 54.45/100
• National rank: #1354
• State rank: #191 of 590 in NY

Livability — West Hempstead

• Score: 86/100
• State rank: #19
• US rank: #382

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Hempstead, NY
• County: Nassau County · 653,051 people
• City population: 25,174
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 25,174
• Household income: $155,154
• Rent vs Own: 10.6% rent · 89.4% own
• Severe rent burden: 208.0

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 0.68)
• Race & ethnicity: White 48% Hispanic / Latino 24% Black 18% Two or more races 8% Asian 5%
• Hispanic origin (detail): Puerto Rican 4% Dominican 7%
• Common ancestry: Romanian 6% Hispanic 3% Scotch-Irish 2%
• Foreign-born: 22% · Canada, Jamaica, China
• Languages at home: 70% English-only · Spanish 17% Other Indo-European 3% French/Haitian/Cajun 2%

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: ▼ -803.45%
• Current HPI: 335.0721
• 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

+1400.0% since first listed

14 events — show timeline

• 2024-12-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-11-01 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-10-09 Listed $300,000 OneKey® MLS as Distributed by MLS Grid
• 2024-09-11 Listed $300,000 OneKey® MLS as Distributed by MLS Grid
• 2018-09-14 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-09-11 Listed $280,000 OneKey® MLS as Distributed by MLS Grid
• 2017-08-08 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-07-03 Pending — OneKey® MLS as Distributed by MLS Grid
• 2017-06-15 Listed $295,000 OneKey® MLS as Distributed by MLS Grid
• 2015-01-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-09-08 Listed $295,000 OneKey® MLS as Distributed by MLS Grid
• 2013-09-08 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2007-11-21 Sold (Public Records) $425,000 Public Records
• 1981-07-01 Sold (Public Records) $20,000 Public Records

Property tax history

-0.7%/yr

Latest (2024): $8,839 · -50.9% YoY. Source: county tax records.