60 Hempstead Ave Unit 3P · Lynbrook, NY 11563

$289,999

1 bd · 1.0 ba · 875 sqft · Condo · 24 Days on market

Built 1961 Fair condition

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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 +17.6/30.0
• ARV discount +7.5/15.0
• Schools +6.7/10.0
• DSCR +5.5/10.0
• 1% rule +4.7/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to 60 Hempstead Avenue 3P in Lynbrook’s Penbrook House in the heart of town near restaurants, shopping, LIRR, major roads, and more. This spacious one-bedroom upper-level unit with terrace in four-story elevator building offers a large living space with options on living/dining layout. Hardwood floors as seen and also under carpet (80% coverage policy). Use of inground heated community pool, deck, lounge chairs, tables/umbrellas. Laundry room located on ground floor near lobby/sitting room and elevator. Maint. includes parking (1 car per unit gets permit for lot, waitlist for garage with cost of $60/month), taxes, water, heat, gas cooking, ground care, and garbage and sno

Key facts

• Laundry room
• Large living space
• Hardwood floors

Tags

• LARGE LIVING SPACE
• INGROUND HEATED COMMUNITY POOL
• HARDWOOD FLOORS
• FOUR-STORY ELEVATOR BUILDING
• LAUNDRY ROOM
• WELL MAINTAINED BUILDING

Property features AI

Finance

• HOA & community: Elevator(s); Landscaping; Maintenance services; Grounds maintenance; Parking included; Community pool; Snow removal

Exterior

• Parking: 1 total parking space; Garage; Parking lot available
• Utilities: PSEG electric; Public sewer; Cable available; Electricity connected; Natural gas connected; Sewer connected; Public trash collection; Water connected
• Home design: Stock cooperative; Entry level 1
• Construction: Brick construction
• Exterior features: Brick construction; Not on waterfront; Near public transit; Near shops; Community in-ground outdoor pool

Interior

• Kitchen: Dishwasher; Microwave; Oven; Gas water heater
• Bedrooms: Bedroom located on the first floor
• Flooring: Carpet; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Natural gas heating; Wall/window air conditioning unit(s)
• Interior features: First-floor bedroom; First-floor full bathroom; No basement; 4 total stories in building; One-level unit; Entry on level 1; No pets allowed
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $290k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (2.6% below list).
• Recommended offer: $283k (2.6% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 3.2% in Lynbrook — 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 88/100 on livability (#10 in NY, #221 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living F.
• Lynbrook Union Free School District (suburban): math 75% / reading 73% proficiency, ranked #72 of 590 in NY (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: West End School (math 82% / reading 82%, grade A+, #138 of 2,108 statewide, top 8%, 401 students, 0% FRL); Lynbrook North Middle School (math 42% / reading 67%, grade B-, #214 of 729 statewide, top 31%, 266 students, 15% FRL); Lynbrook Senior High School (math 97% / reading 82%, grade A+, #265 of 1,100 statewide, top 26%, 850 students, 19% FRL) — zoned schools at 11% FRL track the district average.
• Market conditions: 134 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).

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.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($286k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; major wind risk, 71% 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 $282,516 (2.6% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.97% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.37%
• DSCR: 1.15
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -11.0%
• Equity multiple: 0.60×
• Total profit: $-32,444
• Equity at exit: $43,240

10-year hold

• IRR: -1.7%
• Equity multiple: 0.88×
• Total profit: $-9,399
• Equity at exit: $25,074

Cash invested: $81,200 (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 11563

• Active inventory: 134
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,825 high
• Mortgage (P&I): −$1,521
• Tax est. 1.5%: −$362 /mo · $4,350/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$593
• Net cashflow: $228

Break-even live

Break-even rent $2,537

Max offer price $289,999

Occupancy floor 87%

Sensitivity live

Price	-10% $428	-5% $328	+0% $228	+5% $128	+10% $27
Rent	-10% $5	-5% $116	+0% $228	+5% $339	+10% $451
Rate	-1.0pp $374	-0.5pp $302	base $228	+0.5pp $153	+1.0pp $76

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
318 Earle Ave Unit 2 Lynbrook, NY	1.0	1.0	600	$2,500	$4.17	25d	1	0.22mi
157 Hempstead Ave Unit B6 Lynbrook, NY	1.0	1.0	700	$2,700	$3.86	25d	1	0.26mi
112 Atlantic Ave Apt 71 Lynbrook, NY	2.0	1.0	760	$3,000	$3.95	14d	1	0.37mi
24 Doxsey Pl Unit 3 Lynbrook, NY	2.0	1.0	900	$3,300	$3.67	25d	1	0.43mi
8 Winthrop St Unit 2 Lynbrook, NY	1.0	1.0	600	$2,100	$3.50	44d	1	0.77mi
67 N Prospect Ave Unit 16C Lynbrook, NY	1.0	1.0	785	$3,030	$3.86	19d	1	0.88mi
80 N Centre Ave Rockville Centre, NY	3.0	1.0–3.5	1254	$3,955	$3.15	0d	1	1.08mi
65 Prospect Ave Apt 15W Lynbrook, NY	2.0	2.0	1060	$3,680	$3.47	23d	1	1.10mi
65 Prospect Ave Unit 2W Lynbrook, NY	1.0	1.0	800	$3,055	$3.82	44d	1	1.10mi
111 S Centre Ave Apt 1SS Rockville Centre, NY	2.0	1.0	950	$3,250	$3.42	5d	1	1.19mi
125 S Cottage St Valley Stream, NY	1.0–2.0	1.0–2.0	1143	$3,456	$3.02	0d	7	1.33mi
21 N Grove St Unit 2 Valley Stream, NY	1.0	1.0	700	$2,600	$3.71	23d	1	1.37mi
141 Munro Blvd Valley Stream, NY	1.0	1.0	1000	$1,300	$1.30	18d	1	1.43mi
45 Grand Ave Rockville Centre, NY	2.0	1.0	800	$3,000	$3.75	25d	1	1.43mi
55 Grand Ave Apt 2A Rockville Centre, NY	2.0	1.0	875	$3,000	$3.43	5d	1	1.46mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watertrashgaspool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-21
   days on market $289,999 Active 24 DOM
2. 2026-06-18
   days on market $289,999 Active 21 DOM
3. 2026-06-17
   days on market $289,999 Active 20 DOM
4. 2026-06-16
   days on market $289,999 Active 19 DOM
5. 2026-06-15
   days on market $289,999 Active 18 DOM
6. 2026-06-13
   days on market $289,999 Active 16 DOM
7. 2026-06-09
   days on market $289,999 Active 12 DOM
8. 2026-06-08
   days on market $289,999 Active 11 DOM
9. 2026-06-07
   days on market $289,999 Active 10 DOM
10. 2026-06-04
    days on market $289,999 Active 7 DOM
11. 2026-06-03
    days on market $289,999 Active 6 DOM
12. 2026-06-02
    days on market $289,999 Active 5 DOM
13. 2026-06-01
    days on market $289,999 Active 4 DOM
14. 2026-05-31
    days on market $289,999 Active 3 DOM

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

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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 71% 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: $33,902
• − Mortgage interest: −$16,244
• − Property taxes: −$4,350
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,712
• − Management: −$2,712
• − Depreciation: −$8,436
• Taxable loss: −$2,003
• Est. tax savings @ 24.0%: +$481
• After-tax cash flow: $3,214/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This one-bedroom condo requires moderate repairs and maintenance, particularly in the kitchen and interior walls. Upgrades to paint and countertops would significantly enhance its resale and rental value.

Repairs flagged

• Moderate Kitchen cabinets — Worn appearance
• Minor Kitchen countertops — Need cleaning

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace kitchen countertops — Modern countertops improve functionality and aesthetics
• Both Replace carpeting — Fresh carpeting improves comfort and appearance
• Resale Paint exterior brick — Fresh paint enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance	Moderate	$3,000–15,000
Kitchen countertops · Need cleaning	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace kitchen countertops — Modern countertops improve functionality and aesthetics ↑
• Both Replace carpeting — Fresh carpeting improves comfort and appearance ↑
• Resale Paint exterior brick — Fresh paint enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lynbrook Union Free School District
• NCES district ID: 3617910
• Math proficiency: 75% ▬ 0.00%
• Reading proficiency: 73% ▲ 2.00%
• Median HH income: $93,436
• Composite: 66.85/100
• National rank: #404
• State rank: #72 of 590 in NY

Livability — Lynbrook

• Score: 88/100
• State rank: #10
• US rank: #221

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: Lynbrook, NY
• County: Nassau County · 653,051 people
• City population: 22,899
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 22,899
• Household income: $136,887
• Rent vs Own: 23.7% rent · 76.3% own
• Severe rent burden: 618.0

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 0.56)
• Race & ethnicity: White 62% Hispanic / Latino 21% Two or more races 10% Asian 7% Black 7%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Cuban 2% Dominican 3%
• Common ancestry: Hispanic 2% Romanian 2% Scotch-Irish 2%
• Foreign-born: 17% · Canada, China, Jamaica
• Languages at home: 74% English-only · Spanish 13% Other Indo-European 7% 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: ▼ -652.00%
• Current HPI: 317.1455
• 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

1 event — show timeline

• 2026-05-28 Listed $289,999 OneKey® MLS as Distributed by MLS Grid