20 Wendell St Unit A16 · Hempstead, NY 11550

$299,999

1 bd · 1.0 ba · 800 sqft · Condo · 255 Days on market

Built 1960 Good condition $375/sqft · 33% below area Est $451k · 33% 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
• 1% rule +5.0/10.0
• Cash flow +4.6/30.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the beautiful Wendell Terrace, located just a couple of blocks from Garden City. It boasts a beautifully landscaped building and lobby complete with security. It also has a state of the arts laundry room. The apartment is freshly painted featuring tile and laminate floors. The kitchen is updated with new high end stainless appliances. The bathroom is updated as well. There is also a large terrace for your enjoyment.

Key facts

• Landscaped building
• Freshly painted
• Updated kitchen

Tags

• LANDSCAPED BUILDING
• SECURITY
• STATE OF THE ARTS LAUNDRY ROOM
• FRESHLY PAINTED
• TILE AND LAMINATE FLOORS
• UPDATED KITCHEN

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $300k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-766 ($-9k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $264k (12.0% below list) — sets the bar for market timing.
• Cap rate 3.2% vs local median 5.1% in Hempstead — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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).
• This rent runs 39% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 255 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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: HOA is 35% of rent.
• Climate carrying-cost: major flood risk; major wind risk, 51% 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 $263,999 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 255 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.00% ✓
• Cap rate: 3.23%
• Cash-on-cash: -10.94%
• DSCR: 0.51
• GRM: 8.3

CMA / ARV

• ARV (median comp): $450,899
• List price: $299,999
• Delta: -33.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -35.8%
• Equity multiple: -0.15×
• Total profit: $-96,698
• Equity at exit: $44,731

10-year hold

• IRR: -46.0%
• Equity multiple: -0.72×
• Total profit: $-144,179
• Equity at exit: $25,938

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 11550

• Active inventory: 167
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $3,003 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• HOA est. from 2 same-building comps: −$1,065
• Vacancy / Maint / Mgmt: −$631
• Net cashflow: $-766

Break-even live

Break-even rent $3,972

Max offer price $189,161

Occupancy floor —

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 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 Wendell St Apt 11A Hempstead, NY	2.0	1.0	800	$2,950	$3.69	13d	1	0.03mi
303 Main St Hempstead, NY	1.0–2.0	1.0–2.0	1029	$3,389	$3.29	1d	7	0.27mi
36 Hilton Ave Unit 306 Hempstead, NY	1.0	1.0	1003	$2,350	$2.34	15d	1	0.40mi
343 Jackson St Unit 1 Hempstead, NY	2.0	2.0	1000	$3,300	$3.30	44d	1	0.74mi
343 Jackson St Unit 3 Hempstead, NY	2.0	1.5	1000	$3,300	$3.30	24d	1	0.74mi
111 Hempstead Tpke West Hempstead, NY	3.0	1.0–2.5	1226	$4,301	$3.51	1d	87	0.86mi
130 Hempstead Ave West Hempstead, NY	1.0–3.0	1.0–2.0	1113	$3,547	$3.19	1d	6	0.93mi
365 Stewart Ave Garden City, NY	1.0–2.0	1.0–2.0	1034	$3,220	$3.11	1d	1	0.94mi
457 Front St Hempstead, NY	1.0	1.0	700	$2,352	$3.36	44d	1	0.98mi
254 Stewart Ave Unit 2C Hempstead, NY	1.0	1.0	800	$2,350	$2.94	3d	1	1.00mi
23 Maple Ave Hempstead, NY	2.0	1.0	650	$3,000	$4.62	20d	1	1.04mi
539 Front St Hempstead, NY	2.0	1.0	850	$3,200	$3.76	22d	1	1.10mi
196 S Franklin St Hempstead, NY	2.0	1.0	600	$3,200	$5.33	44d	1	1.14mi
34 Elizabeth Ave Hempstead, NY	1.0	1.0	900	$2,300	$2.56	17d	1	1.24mi

HOA detail condo

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

Listing history 6 events

1. 2026-05-15
   status Pending 431-char remark

   Show marketing remark (431 chars)

   Welcome to the beautiful Wendell Terrace, located just a couple of blocks from Garden City. It boasts a beautifully landscaped building and lobby complete with security. It also has a state of the arts laundry room. The apartment is freshly painted featuring tile and laminate floors. The kitchen is updated with new high end stainless appliances. The bathroom is updated as well. There is also a large terrace for your enjoyment.

2. 2026-02-12
   status Active 431-char remark

   Show marketing remark (431 chars)

   Welcome to the beautiful Wendell Terrace, located just a couple of blocks from Garden City. It boasts a beautifully landscaped building and lobby complete with security. It also has a state of the arts laundry room. The apartment is freshly painted featuring tile and laminate floors. The kitchen is updated with new high end stainless appliances. The bathroom is updated as well. There is also a large terrace for your enjoyment.

3. 2026-02-10
   historical 431-char remark

   Show marketing remark (431 chars)

   Welcome to the beautiful Wendell Terrace, located just a couple of blocks from Garden City. It boasts a beautifully landscaped building and lobby complete with security. It also has a state of the arts laundry room. The apartment is freshly painted featuring tile and laminate floors. The kitchen is updated with new high end stainless appliances. The bathroom is updated as well. There is also a large terrace for your enjoyment.

4. 2025-09-11
   status Active 431-char remark

   Show marketing remark (431 chars)

   Welcome to the beautiful Wendell Terrace, located just a couple of blocks from Garden City. It boasts a beautifully landscaped building and lobby complete with security. It also has a state of the arts laundry room. The apartment is freshly painted featuring tile and laminate floors. The kitchen is updated with new high end stainless appliances. The bathroom is updated as well. There is also a large terrace for your enjoyment.

5. 2025-08-21
   status Pending 431-char remark

   Show marketing remark (431 chars)

   Welcome to the beautiful Wendell Terrace, located just a couple of blocks from Garden City. It boasts a beautifully landscaped building and lobby complete with security. It also has a state of the arts laundry room. The apartment is freshly painted featuring tile and laminate floors. The kitchen is updated with new high end stainless appliances. The bathroom is updated as well. There is also a large terrace for your enjoyment.

6. 2025-08-09
   listed $299,999 Active 431-char remark

   Show marketing remark (431 chars)

   Welcome to the beautiful Wendell Terrace, located just a couple of blocks from Garden City. It boasts a beautifully landscaped building and lobby complete with security. It also has a state of the arts laundry room. The apartment is freshly painted featuring tile and laminate floors. The kitchen is updated with new high end stainless appliances. The bathroom is updated as well. There is also a large terrace for your enjoyment.

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 74% 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 51% 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: $36,034
• − Mortgage interest: −$16,805
• − Property taxes: −$4,500
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,883
• − Management: −$2,883
• − HOA: −$12,780
• − Depreciation: −$8,727
• Taxable loss: −$14,043
• Est. tax savings @ 24.0%: +$3,370
• After-tax cash flow: $-5,821/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained and updated condo is move-in ready with fresh paint, new appliances, and updated bathrooms. It offers a good investment opportunity with minimal repairs needed.

Value-add opportunities

• Both Painting — Fresh paint enhances curb appeal and interior aesthetics
• Both Kitchen appliances — High-end stainless appliances improve functionality and appeal
• Both Bathroom fixtures — New fixtures and tile enhance functionality and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Painting — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Kitchen appliances — High-end stainless appliances improve functionality and appeal ↑
• Both Bathroom fixtures — New fixtures and tile enhance functionality and aesthetics ↑

ⓘ 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: 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

6 events — show timeline

• 2026-05-15 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-12 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-02-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-09-11 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-08-21 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-08-09 Listed $299,999 OneKey® MLS as Distributed by MLS Grid