71 Angevine Ave · Hempstead, NY 11550

$400,000

3 bd · 2.5 ba · 1,733 sqft · SingleFamily · 20 Days on market

Built 1935 6,000 sqft lot Est $709k · 44% under

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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 +24.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• 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

Listing remarks

3 Bedroom, 2 Bath Cape Featuring Living Room, Dining Room And Kitchen. Home Is In Original Condition And Requires Updating. Sold As-Is. Short Sale Subject To Bank Approval. Drive-By Only – No Interior Access.

Key facts

• 6,000 sq ft lot
• Garage
• Built 1935

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $783 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $400k).
• Recommended offer: $394k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% 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-, schools D, 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.
• Market conditions: 167 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• At $4,490/mo this rent would consume 58% 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 $3k of loan paydown is wiped out by about $12k 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

• It's been on market 20 days — a 2% lower offer ($394k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $394,000 (1.5% below list)

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.39%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $708,797
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
50 Marvin Ave	0.16mi	4/2.5 (+1)	1,860 (+7%)	3mo	$764,500	$411	73
23 Peters Ave	0.41mi	3/2.0	1,650 (-5%)	2mo	$780,000	$473	70
70 Baldwin Rd	0.27mi	4/3.0 (+1)	1,612 (-7%)	5mo	$660,000	$409	65
142 S Franklin St	0.17mi	4/2.0 (+1)	1,499 (-14%)	3mo	$650,000	$434	60
15 Clyde Ave	0.66mi	3/2.0	1,656 (-4%)	0mo	$625,000	$377	60
43 Macdonald St	0.61mi	4/1.5 (+1)	1,677 (-3%)	0mo	$641,000	$382	57
60 Parsons Dr	0.64mi	3/1.5	1,839 (+6%)	4mo	$665,000	$362	53
109 Leverich St	0.71mi	3/1.5	1,672 (-4%)	6mo	$519,000	$310	52
33 Grant St	0.72mi	3/2.5	1,892 (+9%)	7mo	$735,000	$388	46
141 Brown Ave	0.63mi	4/3.0 (+1)	1,541 (-11%)	4mo	$744,600	$483	42
269 Windsor Pkwy	0.75mi	3/1.0	1,500 (-13%)	4mo	$620,000	$413	33
111 Jean Ave	0.70mi	4/2.0 (+1)	1,491 (-14%)	8mo	$454,125	$305	31

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: -3.5%
• Equity multiple: 0.87×
• Total profit: $-14,877
• Equity at exit: $59,641

10-year hold

• IRR: 6.2%
• Equity multiple: 1.46×
• Total profit: $51,540
• Equity at exit: $34,585

Cash invested: $112,000 (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 11550

• Active inventory: 167
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $4,490 high
• Mortgage (P&I): −$2,098
• Tax est. 1.5%: −$500 /mo · $6,000/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$943
• Net cashflow: $783

Break-even live

Break-even rent $3,499

Max offer price $400,000

Occupancy floor 78%

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
366 Greenwich St Hempstead, NY	3.0	1.5	1504	$4,000	$2.66	1d	1	0.48mi
533 Greenwich St Unit 1D Hempstead, NY	3.0	2.0	1103	$4,000	$3.63	44d	1	0.82mi
21 Union Ave Hempstead, NY	4.0	3.0	1342	$5,700	$4.25	1d	1	1.02mi
130 Hempstead Ave West Hempstead, NY	1.0–3.0	1.0–2.0	1113	$4,726	$4.25	1d	6	1.11mi
523 Hawthorne Ave Uniondale, NY	3.0	1.0	1328	$3,300	$2.48	24d	1	1.12mi
303 Main St Hempstead, NY	1.0–2.0	1.0–2.0	1029	$4,326	$4.20	1d	7	1.13mi
111 Hempstead Tpke West Hempstead, NY	3.0	1.0–2.5	1226	$6,776	$5.52	1d	87	1.17mi
204 Wellington St Hempstead, NY	4.0	2.0	1075	$4,300	$4.00	22d	1	1.36mi
210 Wellington St Hempstead, NY	4.0	1.0	1950	$4,300	$2.21	1d	1	1.36mi
529 Maple Ave Unit Second Floor Uniondale, NY	3.0	2.0	1240	$3,750	$3.02	24d	1	1.39mi

Listing history 2 events

1. 2026-06-18
   remarks 208-char remark
2. 2026-06-18
   listed $400,000 Pending 20 DOM

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

Taxation est. · year 1

• Rental income: $53,884
• − Mortgage interest: −$22,406
• − Property taxes: −$6,000
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,311
• − Management: −$4,311
• − Depreciation: −$11,636
• Taxable income: $3,220
• Est. tax owed @ 24.0%: −$773
• After-tax cash flow: $8,624/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