22 Mason St · Hempstead, NY 11550

$450,000

3 bd · 1.0 ba · 1,075 sqft · SingleFamily public records · 8 Days on market

Built 1966 4,000 sqft lot Est $565k · 20% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +14.1/30.0
• DSCR +4.3/10.0
• 1% rule +4.1/10.0
• 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

Priced to sell- Well-maintained and thoughtfully updated home featuring major system upgrades for peace of mind. 3 bedrooms 1 bath with full basement and separate entrance. Basement has open permit to finish with plans approved buyer will just need to finish. Gas boiler less than 10 years old. The water heater is brand new (under 1 year old). The roof is under 10 years old, and the upstairs kitchen has been updated within the last 5 years. A solid opportunity offering key mechanical updates and recent improvements, ready for its next owner.

Key facts

• 4,000 sq ft lot
• Built 1966
• Listed 8 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $450k.

Deal economics

• At list price, monthly cash flow is $63 ($751/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 $409k (9.1% below list).
• Recommended offer: $409k (9.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 5.1% in Hempstead — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Joseph Mcneil School (math 14% / reading 25%, grade F, #1,992 of 2,108 statewide, top 95%, 401 students, 63% 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).
• Market conditions: 167 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• At $4,091/mo this rent would consume 53% 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 $14k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $300k; list at $450k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $409,074 (9.1% below list)

Questions for the listing agent

1. Built in 1966 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.91% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.60%
• DSCR: 1.03
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $565,450
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22 Mason St	0.00mi	3/1.0	1,075 (0%)	0mo	$460,000	$428	100
31 Grove St	0.44mi	3/2.0	1,062 (-1%)	3mo	$545,000	$513	71
106 W Marshall St	0.42mi	3/3.0	1,061 (-1%)	4mo	$605,000	$570	67
122 Green Ave	0.30mi	3/1.0	1,018 (-5%)	14mo	$670,000	$658	65
10 Linden Ave	0.30mi	4/2.0 (+1)	1,116 (+4%)	8mo	$500,000	$448	64
128 Green Ave	0.31mi	3/1.5	1,018 (-5%)	17mo	$600,000	$589	60
39 Botsford St	0.52mi	4/2.0 (+1)	1,100 (+2%)	3mo	$590,000	$536	60
11 Madison Ave	0.42mi	3/1.0	1,179 (+10%)	13mo	$620,000	$526	54
12 Taylor Pl	0.61mi	3/1.5	1,174 (+9%)	2mo	$610,000	$520	53
89 Virginia Ave	0.28mi	3/2.0	1,206 (+12%)	14mo	$574,468	$476	51
19 Emery St	0.54mi	3/2.0	1,150 (+7%)	10mo	$600,000	$522	50
78 S Franklin St	0.51mi	4/2.0 (+1)	1,223 (+14%)	6mo	$790,000	$646	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: -15.3%
• Equity multiple: 0.45×
• Total profit: $-68,837
• Equity at exit: $67,096

10-year hold

• IRR: -6.8%
• Equity multiple: 0.57×
• Total profit: $-54,413
• Equity at exit: $38,908

Cash invested: $126,000 (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: 9.2×

Monthly cashflow live

• Estimated rent: $4,091 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$622 /mo · $7,461/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$859
• Net cashflow: $63

Break-even live

Break-even rent $4,012

Max offer price $450,000

Occupancy floor 93%

Sensitivity live

Price	-10% $317	-5% $190	+0% $63	+5% $-65	+10% $-192
Rent	-10% $-261	-5% $-99	+0% $63	+5% $224	+10% $386
Rate	-1.0pp $289	-0.5pp $177	base $63	+0.5pp $-54	+1.0pp $-173

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12 Elm Ave Unit 1 Hempstead, NY	3.0	1.0	970	$3,500	$3.61	19d	1	0.34mi
130 Hempstead Ave West Hempstead, NY	1.0–3.0	1.0–2.0	1113	$4,726	$4.25	1d	6	0.82mi
111 Hempstead Tpke West Hempstead, NY	3.0	1.0–2.5	1226	$6,776	$5.52	1d	87	0.92mi
582 Washington Ave West Hempstead, NY	4.0	1.0	1440	$4,500	$3.12	13d	1	1.08mi
345 Walton St West Hempstead, NY	4.0	2.5	1274	$4,525	$3.55	1d	1	1.14mi
533 Greenwich St Unit 1D Hempstead, NY	3.0	2.0	1103	$4,000	$3.63	44d	1	1.16mi
539 Front St Hempstead, NY	2.0	1.0	850	$3,200	$3.76	22d	1	1.23mi
343 Jackson St Unit 3 Hempstead, NY	2.0	1.5	1000	$3,300	$3.30	25d	1	1.23mi
343 Jackson St Unit 1 Hempstead, NY	2.0	2.0	1000	$3,300	$3.30	44d	1	1.23mi
20 Wendell St Apt 11A Hempstead, NY	2.0	1.0	800	$2,950	$3.69	13d	1	1.27mi
20 Ingraham Ln Hempstead, NY	3.0	1.0	950	$3,150	$3.32	44d	1	1.31mi
31-33 Burr Ave Hempstead, NY	3.0	1.0	700	$3,500	$5.00	44d	1	1.31mi
303 Main St Hempstead, NY	1.0–2.0	1.0–2.0	1029	$4,326	$4.20	1d	7	1.40mi
849 Taft St West Hempstead, NY	2.0	1.0	1368	$2,500	$1.83	13d	1	1.50mi

Listing history 5 events

1. 2026-02-11
   status Pending
2. 2026-01-26
   listed $450,000 Active
3. 2026-01-22
   historical $450,000
4. 2007-06-21
   soldstatus $300,000
5. 2001-07-18
   soldstatus $195,000

ⓘ 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: $7,461 · $622/mo
• Projected year-2 tax: $7,533 · $628/mo
• Expected delta: +$72/yr (+$6/mo · 1.0%)

ⓘ 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 ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 54% 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: $49,089
• − Mortgage interest: −$25,207
• − Property taxes: −$7,461
• − Insurance: −$2,250
• − Repairs & maintenance: −$3,927
• − Management: −$3,927
• − Depreciation: −$13,091
• Taxable loss: −$6,775
• Est. tax savings @ 24.0%: +$1,626
• After-tax cash flow: $2,377/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

+130.8% since first listed

5 events — show timeline

• 2026-02-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-26 Listed $450,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-22 Coming Soon $450,000 OneKey® MLS as Distributed by MLS Grid
• 2007-06-21 Sold (Public Records) $300,000 Public Records
• 2001-07-18 Sold (Public Records) $195,000 Public Records

Property tax history

+1.9%/yr

Latest (2024): $7,461 · -1.7% YoY. Source: county tax records.