352 Hempstead Ave · West Hempstead, NY 11552

$1,450,000

12 bd · 16.0 ba · 3,960 sqft · MultiFamily · 275 Days on market

Built 1925 Fair condition 2,240 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 +28.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +4.3/5.0
• 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: 4 units. confirmed

Listing remarks MLS

Exceptional investment opportunity in the Heart of West Hempstead! Features a 4-Unit Mixed-Use Corner Building with a detached 2 Car Garage. The property features 20+ feet of frontage on high-traffic Hempstead Avenue, excellent signage and exposure. Equipped with 3-phase industrial electrical service (300 amps). 1st Floor Offers Store-Tattoo parlor with full basement $3,000 month ($36,000/year – can be delivered vacant) and Studio apartment $1,500 month ($18,000/year), 2nd Floor Units Offer a 2-bedroom apartment $2,400 month ($28,800/year), a 1-bedroom apartment $2,300 month ($27,600/year), and detached 2 car garage rental $500 month ($6,000/year). Zoned for flexibility, it’s perfect for investors, developers, or end-users seeking a value-add opportunity or future redevelopment site. Gross annual rental income $116,400 and annual expenses $31,036.25. Located just blocks from the West Hempstead and Hempstead Gardens LIRR stations and surrounded by national retailers. This property offers unmatched visibility, steady cash flow, and tremendous upside. Don’t miss the chance to own a high-yield asset in one of Nassau County’s most desirable corridors.

Key facts

• 20 feet of frontage
• Unmatched visibility
• 2,240 sq ft lot

Tags

• 4 UNIT MIXED USE BUILDING
• DETACHED 2 CAR GARAGE
• 20 FEET OF FRONTAGE
• HIGH TRAFFIC LOCATION
• ZONED FOR FLEXIBILITY
• UNMATCHED VISIBILITY

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/4.0-bath units multifamily listed at $1.45M. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $5k ($59k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($19k rent vs $1.45M).
• Recommended offer: $1.28M (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 3.8% in West 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 86/100 on livability (#19 in NY, #382 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• West Hempstead Union Free School District (suburban): math 54% / reading 63% proficiency, ranked #191 of 590 in NY (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 101 active listings in the ZIP; high-income renter base; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• At $18,866/mo this rent would consume 146% of the median local household income ($155k/yr) (locally 208% 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 $10k of loan paydown is wiped out by about $44k 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 $406k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 275 days — a 12% lower offer ($1.28M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,276,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 275 days. Have you received any prior offers? Is the seller open to a 12% 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 1925 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.30% ✓
• Cap rate: 10.33%
• Cash-on-cash: 14.43%
• DSCR: 1.64
• GRM: 6.4

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: 4.9%
• Equity multiple: 1.19×
• Total profit: $76,356
• Equity at exit: $216,200

10-year hold

• IRR: 14.3%
• Equity multiple: 2.15×
• Total profit: $468,152
• Equity at exit: $125,369

Cash invested: $406,000 (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 11552

• Active inventory: 101
• Price-to-rent: 25.6×

Monthly cashflow live

• Estimated rent: $18,866 high
• Mortgage (P&I): −$7,604
• Tax est. 1.5%: −$1,812 /mo · $21,750/yr
• Insurance: −$604
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,962
• Net cashflow: $4,884

Break-even live

Break-even rent $12,684

Max offer price $1,450,000

Occupancy floor 69%

Sensitivity live

Price	-10% $5,886	-5% $5,385	+0% $4,884	+5% $4,382	+10% $3,881
Rent	-10% $3,393	-5% $4,138	+0% $4,884	+5% $5,629	+10% $6,374
Rate	-1.0pp $5,614	-0.5pp $5,252	base $4,884	+0.5pp $4,508	+1.0pp $4,126

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	4	$18,868
Total (4 units)			$18,866

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: $362,500
• Closing costs: $43,500
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $1,450,000 Active 275 DOM
2. 2026-06-17
   days on market $1,450,000 Active 274 DOM
3. 2026-06-16
   days on market $1,450,000 Active 273 DOM
4. 2026-06-15
   days on market $1,450,000 Active 272 DOM
5. 2026-06-13
   days on market $1,450,000 Active 270 DOM
6. 2026-06-13
   days on market $1,450,000 Active 269 DOM
7. 2026-06-09
   days on market $1,450,000 Active 266 DOM
8. 2026-06-08
   days on market $1,450,000 Active 265 DOM
9. 2026-06-07
   days on market $1,450,000 Active 264 DOM
10. 2026-06-04
    days on market $1,450,000 Active 261 DOM
11. 2026-06-03
    days on market $1,450,000 Active 260 DOM
12. 2026-06-02
    days on market $1,450,000 Active 259 DOM
13. 2026-06-01
    days on market $1,450,000 Active 258 DOM
14. 2026-05-31
    days on market $1,450,000 Active 257 DOM
15. 2025-09-15
    listed $1,450,000 Active 1195-char remark

    Show marketing remark (1195 chars)

    Exceptional investment opportunity in the Heart of West Hempstead! Features a 4-Unit Mixed-Use Corner Building with a detached 2 Car Garage. The property features 20+ feet of frontage on high-traffic Hempstead Avenue, excellent signage and exposure. Equipped with 3-phase industrial electrical service (300 amps). 1st Floor Offers Store-Tattoo parlor with full basement $3,000 month ($36,000/year – can be delivered vacant) and Studio apartment $1,500 month ($18,000/year), 2nd Floor Units Offer a 2-bedroom apartment $2,400 month ($28,800/year), a 1-bedroom apartment $2,300 month ($27,600/year), and detached 2 car garage rental $500 month ($6,000/year). Zoned for flexibility, it’s perfect for investors, developers, or end-users seeking a value-add opportunity or future redevelopment site. Gross annual rental income $116,400 and annual expenses $31,036.25. Located just blocks from the West Hempstead and Hempstead Gardens LIRR stations and surrounded by national retailers. This property offers unmatched visibility, steady cash flow, and tremendous upside. Don’t miss the chance to own a high-yield asset in one of Nassau County’s most desirable corridors.

ⓘ 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: $226,392
• − Mortgage interest: −$81,223
• − Property taxes: −$21,750
• − Insurance: −$7,250
• − Repairs & maintenance: −$18,111
• − Management: −$18,111
• − Depreciation: −$42,182
• Taxable income: $37,765
• Est. tax owed @ 24.0%: −$9,064
• After-tax cash flow: $49,539/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 · 8 photos

Fair 45/100 Moderate rehab

This 4-unit mixed-use building requires moderate renovations to improve its condition and increase its value. The property has potential for significant upgrades that would enhance both its resale and rental value.

Repairs flagged

• Minor Kitchen countertops — Worn appearance
• Minor Bathroom tiles — Discoloration
• Moderate Exterior paint — Significant discoloration
• Moderate Interior paint — Chipped in some areas
• Moderate Windows — Signs of wear
• Moderate HVAC units — Some wear visible
• Moderate Landscaping — Overgrown and basic

Value-add opportunities

• Both Painting and updating interior decor — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and property value
• Both HVAC system upgrade — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops · Worn appearance	Minor	$500–3,000
Bathroom tiles · Discoloration	Minor	$500–3,000
Exterior paint · Significant discoloration	Moderate	$3,000–15,000
Interior paint · Chipped in some areas	Moderate	$3,000–15,000
Windows · Signs of wear	Moderate	$3,000–15,000
HVAC units · Some wear visible	Moderate	$3,000–15,000
Landscaping · Overgrown and basic	Moderate	$3,000–15,000
Total estimated repair cost · 7 items		$16,000–81,000

Value-add ROI direction

• Both Painting and updating interior decor — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and property value ↑
• Both HVAC system upgrade — Improves comfort and energy efficiency ↑

ⓘ 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: West Hempstead Union Free School District
• NCES district ID: 3630660
• Math proficiency: 54% ▼ -3.00%
• Reading proficiency: 63% ▲ 7.00%
• Median HH income: $98,641
• Composite: 54.45/100
• National rank: #1354
• State rank: #191 of 590 in NY

Livability — West Hempstead

• Score: 86/100
• State rank: #19
• US rank: #382

Category grades

Amenities A+ Commute A+ Cost of living F Crime A- Employment A+ Housing A+ Health & safety A User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Hempstead, NY
• County: Nassau County · 653,051 people
• City population: 25,174
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 25,174
• Household income: $155,154
• Rent vs Own: 10.6% rent · 89.4% own
• Severe rent burden: 208.0

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 0.68)
• Race & ethnicity: White 48% Hispanic / Latino 24% Black 18% Two or more races 8% Asian 5%
• Hispanic origin (detail): Puerto Rican 4% Dominican 7%
• Common ancestry: Romanian 6% Hispanic 3% Scotch-Irish 2%
• Foreign-born: 22% · Canada, Jamaica, China
• Languages at home: 70% English-only · Spanish 17% Other Indo-European 3% French/Haitian/Cajun 2%

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: ▼ -803.45%
• Current HPI: 335.0721
• 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

1 event — show timeline

• 2025-09-15 Listed $1,450,000 OneKey® MLS as Distributed by MLS Grid