23 Allen St · Hempstead, NY 11550

$465,000

4 bd · 1.5 ba · 1,613 sqft · SingleFamily public records · 44 Days on market

Built 1964 4,000 sqft lot $288/sqft · 34% below area Est $707k · 34% 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 +18.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +5.3/10.0
• 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 MLS

Amazing opportunity in Hempstead, New York. Home was built in 1964 and has approx1,613 square feet. It sits on a good size lot of approx. 4,000 square feet. At this price if you blink it will be SOLD. The house Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

Key facts

• 4,000 sq ft lot
• Garage
• Built 1964

Property features AI

Exterior

• Parking: Garage (1 space)
• Utilities: Cesspool sewer; Utilities: see remarks
• Home design: Single family residence
• Construction: Vinyl siding construction
• Exterior features: Vinyl siding; Not waterfront

Interior

• Kitchen: Microwave
• Bedrooms: Bedroom on the first floor
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: First-floor bedroom; Finished full attic; Finished full basement; Six total rooms
• Laundry & utility: Utilities listed in remarks

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $465k.

Deal economics

• At list price, monthly cash flow is $461 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $465k).
• Recommended offer: $451k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d 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 $4,812/mo this rent would consume 62% 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

• It's been on market 44 days — a 3% lower offer ($451k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago 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

• Climate carrying-cost: major wind risk, 53% 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 $451,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.03% ✓
• Cap rate: 7.48%
• Cash-on-cash: 4.25%
• DSCR: 1.19
• GRM: 8.1

CMA / ARV

• ARV (median comp): $706,872
• List price: $465,000
• Delta: -34.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Peters Ave	0.29mi	3/2.0 (-1)	1,650 (+2%)	2mo	$780,000	$473	74
54 W Marshall St	0.20mi	3/1.5 (-1)	1,472 (-9%)	2mo	$475,000	$323	70
70 Baldwin Rd	0.59mi	4/3.0	1,612 (-0%)	5mo	$660,000	$409	62
34 Frazier St	0.41mi	3/1.5 (-1)	1,472 (-9%)	2mo	$480,000	$326	60
141 Brown Ave	0.51mi	4/3.0	1,541 (-4%)	4mo	$744,600	$483	60
77 Virginia Ave	0.45mi	5/2.0 (+1)	1,493 (-7%)	3mo	$593,000	$397	57
15 Clyde Ave	0.70mi	3/2.0 (-1)	1,656 (+3%)	0mo	$625,000	$377	56
248 Kennedy Ave	0.52mi	3/2.0 (-1)	1,474 (-9%)	3mo	$740,000	$502	52
142 S Franklin St	0.68mi	4/2.0	1,499 (-7%)	3mo	$650,000	$434	52
269 Windsor Pkwy	0.57mi	3/1.0 (-1)	1,500 (-7%)	4mo	$620,000	$413	51
30 Angevine Ave	0.64mi	5/2.0 (+1)	1,734 (+8%)	4mo	$780,000	$450	48
311 Cedar St	0.70mi	3/3.0 (-1)	1,405 (-13%)	1mo	$700,000	$498	34

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: -9.6%
• Equity multiple: 0.65×
• Total profit: $-45,861
• Equity at exit: $69,333

10-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-1,545
• Equity at exit: $40,205

Cash invested: $130,200 (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 11550

• Active inventory: 167
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $4,812 high
• Mortgage (P&I): −$2,439
• Tax from tax record: −$708 /mo · $8,502/yr
• Insurance: −$194
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,010
• Net cashflow: $461

Break-even live

Break-even rent $4,229

Max offer price $465,000

Occupancy floor 85%

Sensitivity live

Price	-10% $724	-5% $592	+0% $461	+5% $329	+10% $197
Rent	-10% $80	-5% $271	+0% $461	+5% $651	+10% $841
Rate	-1.0pp $695	-0.5pp $579	base $461	+0.5pp $340	+1.0pp $218

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: $116,250
• Closing costs: $13,950
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
54 Kane Ave Hempstead, NY	5.0	2.0	1750	$4,800	$2.74	44d	1	0.55mi
366 Greenwich St Hempstead, NY	3.0	1.5	1504	$4,000	$2.66	2d	1	0.68mi
533 Greenwich St Unit 1D Hempstead, NY	3.0	2.0	1103	$4,000	$3.63	44d	1	0.81mi
130 Hempstead Ave West Hempstead, NY	1.0–3.0	1.0–2.0	1113	$4,726	$4.25	2d	6	1.36mi
582 Washington Ave West Hempstead, NY	4.0	1.0	1440	$4,500	$3.12	13d	1	1.38mi
523 Hawthorne Ave Uniondale, NY	3.0	1.0	1328	$3,300	$2.48	25d	1	1.38mi
111 Hempstead Tpke West Hempstead, NY	3.0	1.0–2.5	1226	$6,776	$5.52	2d	87	1.46mi

Listing history 21 events

1. 2026-06-09
   days on market $465,000 Active 44 DOM
2. 2026-06-08
   days on market $465,000 Active 43 DOM
3. 2026-06-07
   days on market $465,000 Active 42 DOM
4. 2026-06-04
   days on market $465,000 Active 39 DOM
5. 2026-06-03
   days on market $465,000 Active 38 DOM
6. 2026-06-02
   days on market $465,000 Active 37 DOM
7. 2026-06-01
   days on market $465,000 Active 36 DOM
8. 2026-05-31
   days on market $465,000 Active 35 DOM
9. 2026-05-10
   price $475,000 276-char remark
10. 2026-04-26
    listed $485,000 Active 276-char remark
11. 2025-06-10
    soldstatus $410,000 Closed 318-char remark

    Show marketing remark (318 chars)

    Amazing opportunity in Hempstead, New York. Home was built in 1964 and has approx1,613 square feet. It sits on a good size lot of approx. 4,000 square feet. At this price if you blink it will be SOLD. The house Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

12. 2025-05-13
    status Pending 318-char remark

    Show marketing remark (318 chars)

    Amazing opportunity in Hempstead, New York. Home was built in 1964 and has approx1,613 square feet. It sits on a good size lot of approx. 4,000 square feet. At this price if you blink it will be SOLD. The house Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

13. 2025-04-24
    price $446,500 318-char remark

    Show marketing remark (318 chars)

    Amazing opportunity in Hempstead, New York. Home was built in 1964 and has approx1,613 square feet. It sits on a good size lot of approx. 4,000 square feet. At this price if you blink it will be SOLD. The house Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

14. 2025-04-04
    price $469,100 318-char remark

    Show marketing remark (318 chars)

    Amazing opportunity in Hempstead, New York. Home was built in 1964 and has approx1,613 square feet. It sits on a good size lot of approx. 4,000 square feet. At this price if you blink it will be SOLD. The house Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

15. 2025-03-20
    price $502,800 318-char remark

    Show marketing remark (318 chars)

    Amazing opportunity in Hempstead, New York. Home was built in 1964 and has approx1,613 square feet. It sits on a good size lot of approx. 4,000 square feet. At this price if you blink it will be SOLD. The house Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

16. 2025-03-04
    price $537,600 318-char remark

    Show marketing remark (318 chars)

    Amazing opportunity in Hempstead, New York. Home was built in 1964 and has approx1,613 square feet. It sits on a good size lot of approx. 4,000 square feet. At this price if you blink it will be SOLD. The house Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

17. 2025-02-13
    listed $583,000 Active 318-char remark

    Show marketing remark (318 chars)

    Amazing opportunity in Hempstead, New York. Home was built in 1964 and has approx1,613 square feet. It sits on a good size lot of approx. 4,000 square feet. At this price if you blink it will be SOLD. The house Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

18. 2019-02-22
    historical
19. 2019-02-12
    listed $198,000 New
20. 2006-06-12
    soldstatus $408,000
21. 1986-06-03
    soldstatus $100,000

ⓘ 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: $8,502 · $708/mo
• Projected year-2 tax: $8,502 · $708/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 53% 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: $57,743
• − Mortgage interest: −$26,047
• − Property taxes: −$8,502
• − Insurance: −$2,325
• − Repairs & maintenance: −$4,619
• − Management: −$4,619
• − Depreciation: −$13,527
• Taxable loss: −$1,898
• Est. tax savings @ 24.0%: +$455
• After-tax cash flow: $5,983/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

+365.0% since first listed

15 events — show timeline

• 2026-06-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-05-24 Price Changed $465,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-10 Price Changed $475,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-26 Listed $485,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-10 Sold (MLS) $410,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-13 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-04-24 Price Changed $446,500 OneKey® MLS as Distributed by MLS Grid
• 2025-04-04 Price Changed $469,100 OneKey® MLS as Distributed by MLS Grid
• 2025-03-20 Price Changed $502,800 OneKey® MLS as Distributed by MLS Grid
• 2025-03-04 Price Changed $537,600 OneKey® MLS as Distributed by MLS Grid
• 2025-02-13 Listed $583,000 OneKey® MLS as Distributed by MLS Grid
• 2019-02-22 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-02-12 Listed $198,000 OneKey® MLS as Distributed by MLS Grid
• 2006-06-12 Sold (Public Records) $408,000 Public Records
• 1986-06-03 Sold (Public Records) $100,000 Public Records

Property tax history

+4.2%/yr

Latest (2024): $8,502 · -3.5% YoY. Source: county tax records.