22 Fairview Blvd · Hempstead, NY 11550

$829,000

9 bd · 4.0 ba · 3,039 sqft · MultiFamily public records · 7 Days on market

Built 1930 8,400 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Huge 3 Family Investment Opptny. Only A Block Away Frm Hofstra University. This Charming Home W/Many Architectural Features Boasts Updtd Boiler, Windows, 75 Gallon Hot Water Heater. Upd Carpeting And Floors. Freshly Painted. Tons Of Closet Space Throughout. Sun Porch. This Home Is Over 3,000 Square Feet. Long Driveway With 3-Car Garage (As Is)., Additional information: Appearance:Excellent+,Separate Hotwater Heater:Yes

Key facts

• Common laundry area
• Full basement
• Separate units

Tags

• CLASSIC ARCHITECTURAL CHARM
• FULL BASEMENT
• COMMON LAUNDRY AREA
• DETACHED 3 CAR GARAGE
• COMMUTER FRIENDLY LOCATION
• SEPARATE UNITS

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $829k.

Deal economics

• At list price, monthly cash flow is $4k ($43k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $829k).
• Cap rate 11.5% 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-, 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: Jackson Main Elementary School (math 37% / reading 42%, grade F, #1,444 of 2,108 statewide, top 71%, 495 students, 74% 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) — zoned schools at 70% FRL track the district average.
• Market conditions: 167 active listings in the ZIP; solid renter incomes; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• At $11,787/mo this rent would consume 153% 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 $6k of loan paydown is wiped out by about $25k 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 $232k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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.
• Current owner paid $650k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 58% 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 $829,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.42% ✓
• Cap rate: 11.46%
• Cash-on-cash: 18.46%
• DSCR: 1.82
• GRM: 5.9

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: 10.2%
• Equity multiple: 1.40×
• Total profit: $93,225
• Equity at exit: $123,607

10-year hold

• IRR: 19.3%
• Equity multiple: 2.61×
• Total profit: $374,712
• Equity at exit: $71,677

Cash invested: $232,120 (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: 17.6×

Monthly cashflow live

• Estimated rent: $11,787 high
• Mortgage (P&I): −$4,347
• Tax from tax record: −$1,049 /mo · $12,588/yr
• Insurance: −$345
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,475
• Net cashflow: $3,570

Break-even live

Break-even rent $7,268

Max offer price $829,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$11,787
Total (3 units)			$11,787

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: $207,250
• Closing costs: $24,870
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-03-19
   status Pending
2. 2026-03-04
   listed $829,000 Active
3. 2021-09-21
   soldstatus $650,000
4. 2014-07-08
   soldstatus $399,000
5. 2014-06-25
   soldstatus $399,000 422-char remark

   Show marketing remark (347 chars)

   Huge 3 Family Investment Opptny. Only A Block Away Frm Hofstra University. This Charming Home W/ Many Architectural Features Boasts Updtd Boiler, Windows, 75 Gallon Hot Water Heater. Upd Carpeting And Floors. Freshly Painted. Tons Of Closet Space Throughout. Sun Porch. This Home Is Over 3,000 Square Feet. Long Driveway With 3-Car Garage (As Is).

6. 2014-06-25
   soldstatus $399,000 Closed 347-char remark

   Show marketing remark (347 chars)

   Huge 3 Family Investment Opptny. Only A Block Away Frm Hofstra University. This Charming Home W/ Many Architectural Features Boasts Updtd Boiler, Windows, 75 Gallon Hot Water Heater. Upd Carpeting And Floors. Freshly Painted. Tons Of Closet Space Throughout. Sun Porch. This Home Is Over 3,000 Square Feet. Long Driveway With 3-Car Garage (As Is).

7. 2014-04-30
   status Under Contract 347-char remark

   Show marketing remark (347 chars)

   Huge 3 Family Investment Opptny. Only A Block Away Frm Hofstra University. This Charming Home W/ Many Architectural Features Boasts Updtd Boiler, Windows, 75 Gallon Hot Water Heater. Upd Carpeting And Floors. Freshly Painted. Tons Of Closet Space Throughout. Sun Porch. This Home Is Over 3,000 Square Feet. Long Driveway With 3-Car Garage (As Is).

8. 2014-03-20
   listed $399,000 New 347-char remark

   Show marketing remark (422 chars)

   Huge 3 Family Investment Opptny. Only A Block Away Frm Hofstra University. This Charming Home W/Many Architectural Features Boasts Updtd Boiler, Windows, 75 Gallon Hot Water Heater. Upd Carpeting And Floors. Freshly Painted. Tons Of Closet Space Throughout. Sun Porch. This Home Is Over 3,000 Square Feet. Long Driveway With 3-Car Garage (As Is)., Additional information: Appearance:Excellent+,Separate Hotwater Heater:Yes

9. 2014-03-20
   listed $399,000 422-char remark

   Show marketing remark (422 chars)

   Huge 3 Family Investment Opptny. Only A Block Away Frm Hofstra University. This Charming Home W/Many Architectural Features Boasts Updtd Boiler, Windows, 75 Gallon Hot Water Heater. Upd Carpeting And Floors. Freshly Painted. Tons Of Closet Space Throughout. Sun Porch. This Home Is Over 3,000 Square Feet. Long Driveway With 3-Car Garage (As Is)., Additional information: Appearance:Excellent+,Separate Hotwater Heater:Yes

ⓘ 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: $12,588 · $1,049/mo
• Projected year-2 tax: $13,299 · $1,108/mo
• Expected delta: +$711/yr (+$59/mo · 5.6%)

ⓘ 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 58% 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: $141,444
• − Mortgage interest: −$46,437
• − Property taxes: −$12,588
• − Insurance: −$4,145
• − Repairs & maintenance: −$11,316
• − Management: −$11,316
• − Depreciation: −$24,116
• Taxable income: $31,527
• Est. tax owed @ 24.0%: −$7,566
• After-tax cash flow: $35,273/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

+107.8% since first listed

9 events — show timeline

• 2026-03-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-04 Listed $829,000 OneKey® MLS as Distributed by MLS Grid
• 2021-09-21 Sold (Public Records) $650,000 Public Records
• 2014-07-08 Sold (Public Records) $399,000 Public Records
• 2014-06-25 Sold (MLS) $399,000 MLSLI
• 2014-06-25 Sold (MLS) $399,000 OneKey® MLS as Distributed by MLS Grid
• 2014-04-30 Pending — MLSLI
• 2014-03-20 Listed $399,000 MLSLI
• 2014-03-20 Listed $399,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.8%/yr

Latest (2024): $12,588 · +2.6% YoY. Source: county tax records.