3840 Linden Pl · Hempstead, NY 11550

$500,000

8 bd · 2.0 ba · 2,000 sqft · MultiFamily · 120 Days on market

Built 1962 Fair condition 5,000 sqft lot $250/sqft · 37% below area Est $790k · 37% under ↓ 33% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great Investment Opportunity! This legal two-family, high-ranch style home offers a massive seven-bedroom layout in a prime location. First Floor: Features an open living/dining area, eat-in kitchen, three spacious bedrooms, and one full bathroom. This unit includes access to a full finished basement with dedicated laundry and utility space. Second Floor: Offers a large living/dining area, eat-in kitchen, four bedrooms, and one full bathroom. The Investor's Edge: Both units are Section 8 approved with reliable rental history. The property features 2 separate meters for gas, 2 separate meters for electric, (two boilers/two hot water heaters), significantly lowering landlord overhead. Additional highlights include hardwood floors throughout and a four-car driveway plus ample street parking. Income Details: Unit 1: $2,550/month, Voucher renewal 5/1/2026 with 5% increase to $2,677.50. Unit 2: $2,739/month, Voucher renewal 2/1/2026. Note: HOME WILL BE DELIVERED WITH EXISTING TENANTS AND LEASES TO TRANSFER TO NEW BUYER.

Key facts

• 5,000 sq ft lot
• 3 parking spots
• Built 1962

🏷️ Possibly a rental listed for sale. The $500,000 price doesn't fit this home's estimated sale value (~$790,000) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $500k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $4k ($46k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $500k).
• Recommended offer: $455k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.4% 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; 1 comparable units currently listed for rent nearby; solid renter incomes; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• At $9,185/mo this rent would consume 119% 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 $15k 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 $140k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($455k) is reasonable based on typical stale-listing flexibility.

Recommended offer $455,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
10. 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.
11. 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: 1.84% ✓
• Cap rate: 15.41%
• Cash-on-cash: 32.58%
• DSCR: 2.45
• GRM: 4.5

CMA / ARV

• ARV (median comp): $790,000
• List price: $500,000
• Delta: -36.71%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 27.7%
• Equity multiple: 2.15×
• Total profit: $161,190
• Equity at exit: $74,552

10-year hold

• IRR: 35.2%
• Equity multiple: 4.23×
• Total profit: $452,631
• Equity at exit: $43,231

Cash invested: $140,000 (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: 9.1×

Monthly cashflow live

• Estimated rent: $9,185 high
• Mortgage (P&I): −$2,622
• Tax est. 1.5%: −$625 /mo · $7,500/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,929
• Net cashflow: $3,801

Break-even live

Break-even rent $4,374

Max offer price $500,000

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$9,186
Total (2 units)			$9,185

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 Eldridge Ave Hempstead, NY	9.0	3.0	1560	$6,000	$3.85	1d	1	0.42mi

Listing history 4 events

1. 2026-05-13
   status Pending 1030-char remark

   Show marketing remark (1030 chars)

   Great Investment Opportunity! This legal two-family, high-ranch style home offers a massive seven-bedroom layout in a prime location. First Floor: Features an open living/dining area, eat-in kitchen, three spacious bedrooms, and one full bathroom. This unit includes access to a full finished basement with dedicated laundry and utility space. Second Floor: Offers a large living/dining area, eat-in kitchen, four bedrooms, and one full bathroom. The Investor's Edge: Both units are Section 8 approved with reliable rental history. The property features 2 separate meters for gas, 2 separate meters for electric, (two boilers/two hot water heaters), significantly lowering landlord overhead. Additional highlights include hardwood floors throughout and a four-car driveway plus ample street parking. Income Details: Unit 1: $2,550/month, Voucher renewal 5/1/2026 with 5% increase to $2,677.50. Unit 2: $2,739/month, Voucher renewal 2/1/2026. Note: HOME WILL BE DELIVERED WITH EXISTING TENANTS AND LEASES TO TRANSFER TO NEW BUYER.

2. 2026-05-13
   price $500,000 1030-char remark

   Show marketing remark (1030 chars)

   Great Investment Opportunity! This legal two-family, high-ranch style home offers a massive seven-bedroom layout in a prime location. First Floor: Features an open living/dining area, eat-in kitchen, three spacious bedrooms, and one full bathroom. This unit includes access to a full finished basement with dedicated laundry and utility space. Second Floor: Offers a large living/dining area, eat-in kitchen, four bedrooms, and one full bathroom. The Investor's Edge: Both units are Section 8 approved with reliable rental history. The property features 2 separate meters for gas, 2 separate meters for electric, (two boilers/two hot water heaters), significantly lowering landlord overhead. Additional highlights include hardwood floors throughout and a four-car driveway plus ample street parking. Income Details: Unit 1: $2,550/month, Voucher renewal 5/1/2026 with 5% increase to $2,677.50. Unit 2: $2,739/month, Voucher renewal 2/1/2026. Note: HOME WILL BE DELIVERED WITH EXISTING TENANTS AND LEASES TO TRANSFER TO NEW BUYER.

3. 2026-03-05
   price $695,000 1030-char remark

   Show marketing remark (1030 chars)

   Great Investment Opportunity! This legal two-family, high-ranch style home offers a massive seven-bedroom layout in a prime location. First Floor: Features an open living/dining area, eat-in kitchen, three spacious bedrooms, and one full bathroom. This unit includes access to a full finished basement with dedicated laundry and utility space. Second Floor: Offers a large living/dining area, eat-in kitchen, four bedrooms, and one full bathroom. The Investor's Edge: Both units are Section 8 approved with reliable rental history. The property features 2 separate meters for gas, 2 separate meters for electric, (two boilers/two hot water heaters), significantly lowering landlord overhead. Additional highlights include hardwood floors throughout and a four-car driveway plus ample street parking. Income Details: Unit 1: $2,550/month, Voucher renewal 5/1/2026 with 5% increase to $2,677.50. Unit 2: $2,739/month, Voucher renewal 2/1/2026. Note: HOME WILL BE DELIVERED WITH EXISTING TENANTS AND LEASES TO TRANSFER TO NEW BUYER.

4. 2026-01-12
   listed $749,000 Active 1030-char remark

   Show marketing remark (1030 chars)

   Great Investment Opportunity! This legal two-family, high-ranch style home offers a massive seven-bedroom layout in a prime location. First Floor: Features an open living/dining area, eat-in kitchen, three spacious bedrooms, and one full bathroom. This unit includes access to a full finished basement with dedicated laundry and utility space. Second Floor: Offers a large living/dining area, eat-in kitchen, four bedrooms, and one full bathroom. The Investor's Edge: Both units are Section 8 approved with reliable rental history. The property features 2 separate meters for gas, 2 separate meters for electric, (two boilers/two hot water heaters), significantly lowering landlord overhead. Additional highlights include hardwood floors throughout and a four-car driveway plus ample street parking. Income Details: Unit 1: $2,550/month, Voucher renewal 5/1/2026 with 5% increase to $2,677.50. Unit 2: $2,739/month, Voucher renewal 2/1/2026. Note: HOME WILL BE DELIVERED WITH EXISTING TENANTS AND LEASES TO TRANSFER TO NEW BUYER.

ⓘ 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: $110,220
• − Mortgage interest: −$28,008
• − Property taxes: −$7,500
• − Insurance: −$2,500
• − Repairs & maintenance: −$8,818
• − Management: −$8,818
• − Depreciation: −$14,545
• Taxable income: $40,032
• Est. tax owed @ 24.0%: −$9,608
• After-tax cash flow: $36,002/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 legal two-family home requires moderate renovations to improve its condition and increase its resale and rental value.

Repairs flagged

• Major Kitchen cabinets — Severely outdated and cluttered.
• Major Kitchen countertops — Severely outdated and cluttered.
• Major Kitchen appliances — Severely outdated and cluttered.
• Major Bathroom fixtures — Severely outdated and cluttered.
• Major Landscaping — Overgrown lawn and lack of curb appeal.
• Moderate Exterior siding — Weathered and in need of repair.
• Moderate Windows — Old, possibly single-pane windows.
• Moderate HVAC units — Older units, possibly inefficient.
• Major Flooring — Worn-out carpet in bedrooms.

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the overall appearance and value of the home.
• Both Replace kitchen cabinets and countertops — New cabinets and countertops can significantly improve the functionality and value of the kitchen.
• Both Replace kitchen appliances — Modern appliances can improve the functionality and value of the kitchen.
• Both Replace bathroom fixtures — Modern fixtures can improve the functionality and value of the bathrooms.
• Both Landscaping and curb appeal — A well-maintained lawn and curb appeal can improve the overall appearance and value of the home.
• Both Replace HVAC units — Modern, efficient HVAC units can improve the comfort and value of the home.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Severely outdated and cluttered.	Major	$15,000–50,000
Kitchen countertops · Severely outdated and cluttered.	Major	$15,000–50,000
Kitchen appliances · Severely outdated and cluttered.	Major	$15,000–50,000
Bathroom fixtures · Severely outdated and cluttered.	Major	$15,000–50,000
Landscaping · Overgrown lawn and lack of curb appeal.	Major	$15,000–50,000
Exterior siding · Weathered and in need of repair.	Moderate	$3,000–15,000
Windows · Old, possibly single-pane windows.	Moderate	$3,000–15,000
HVAC units · Older units, possibly inefficient.	Moderate	$3,000–15,000
Flooring · Worn-out carpet in bedrooms.	Major	$15,000–50,000
Total estimated repair cost · 9 items		$99,000–345,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the overall appearance and value of the home. ↑
• Both Replace kitchen cabinets and countertops — New cabinets and countertops can significantly improve the functionality and value of the kitchen. ↑
• Both Replace kitchen appliances — Modern appliances can improve the functionality and value of the kitchen. ↑
• Both Replace bathroom fixtures — Modern fixtures can improve the functionality and value of the bathrooms. ↑
• Both Landscaping and curb appeal — A well-maintained lawn and curb appeal can improve the overall appearance and value of the home. ↑
• Both Replace HVAC units — Modern, efficient HVAC units can improve the comfort and value of the home. ↑

ⓘ 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

-33.2% since first listed

4 events — show timeline

• 2026-05-13 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-05-13 Price Changed $500,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $695,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-12 Listed $749,000 OneKey® MLS as Distributed by MLS Grid