19 Sammis Pl · Hempstead, NY 11550

$600,000

5 bd · 2.0 ba · 1,518 sqft · MultiFamily public records · 199 Days on market

Built 1923 4,000 sqft lot $395/sqft · 26% below area Est $812k · 26% 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 +15.9/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• 1% rule +4.1/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

NO INTERIOR ACCESS- THIS PROPERTY IS SOLD AS IS - INTERIOR CONDITION IS UNKNOWN - CASH ONLY This is a SHORT SALE pending bank approval. All Information Including But Not Limited To Taxes, Lot Size, Age Of Property Are Not Guaranteed And Need To Be Independently Verified. Sold As Is, ALL CASH, Please email all offers with POF to [email protected]

Key facts

• 4,000 sq ft lot
• Built 1923
• Listed 198 days

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $548k (8.7% below list).
• Recommended offer: $528k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 11d 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 $5,480/mo this rent would consume 71% 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 $4k of loan paydown is wiped out by about $18k 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 199 days — a 12% lower offer ($528k) 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.
• Current owner paid $40k; list at $600k implies a 1400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 54% 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 $528,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 199 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.91% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.04%
• DSCR: 1.09
• GRM: 9.1

CMA / ARV

• ARV (median comp): $811,911
• List price: $600,000
• Delta: -26.10%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
215 Cornell St	0.71mi	4/2.0 (-1)	1,472 (-3%)	14mo	$490,000	$333	46

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: -13.1%
• Equity multiple: 0.53×
• Total profit: $-79,009
• Equity at exit: $89,462

10-year hold

• IRR: -4.1%
• Equity multiple: 0.73×
• Total profit: $-45,288
• Equity at exit: $51,877

Cash invested: $168,000 (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: $5,480 medium
• Mortgage (P&I): −$3,146
• Tax from tax record: −$647 /mo · $7,766/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,151
• Net cashflow: $286

Break-even live

Break-even rent $5,119

Max offer price $600,000

Occupancy floor 90%

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: $150,000
• Closing costs: $18,000
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
204 Wellington St Hempstead, NY	4.0	2.0	1075	$4,300	$4.00	22d	1	0.69mi
210 Wellington St Hempstead, NY	4.0	1.0	1950	$4,300	$2.21	1d	1	0.70mi
21 Union Ave Hempstead, NY	4.0	3.0	1342	$5,700	$4.25	1d	1	0.71mi
74 Mulberry Ave Garden City, NY	4.0	2.5	2102	$7,500	$3.57	10d	1	1.39mi

Listing history 19 events

1. 2026-06-18
   days on market $600,000 Active 199 DOM
2. 2026-06-17
   days on market $600,000 Active 198 DOM
3. 2026-06-16
   days on market $600,000 Active 197 DOM
4. 2026-06-15
   days on market $600,000 Active 196 DOM
5. 2026-06-13
   days on market $600,000 Active 194 DOM
6. 2026-06-13
   days on market $600,000 Active 193 DOM
7. 2026-06-09
   days on market $600,000 Active 190 DOM
8. 2026-06-08
   days on market $600,000 Active 189 DOM
9. 2026-06-07
   days on market $600,000 Active 188 DOM
10. 2026-06-04
    days on market $600,000 Active 185 DOM
11. 2026-06-03
    days on market $600,000 Active 184 DOM
12. 2026-06-02
    days on market $600,000 Active 183 DOM
13. 2026-06-01
    days on market $600,000 Active 182 DOM
14. 2026-05-31
    days on market $600,000 Active 181 DOM
15. 2026-02-24
    status Active 353-char remark

    Show marketing remark (353 chars)

    NO INTERIOR ACCESS- THIS PROPERTY IS SOLD AS IS - INTERIOR CONDITION IS UNKNOWN - CASH ONLY This is a SHORT SALE pending bank approval. All Information Including But Not Limited To Taxes, Lot Size, Age Of Property Are Not Guaranteed And Need To Be Independently Verified. Sold As Is, ALL CASH, Please email all offers with POF to [email protected]

16. 2025-06-09
    historical
17. 2025-06-06
    listed $600,000 Active 353-char remark

    Show marketing remark (353 chars)

    NO INTERIOR ACCESS- THIS PROPERTY IS SOLD AS IS - INTERIOR CONDITION IS UNKNOWN - CASH ONLY This is a SHORT SALE pending bank approval. All Information Including But Not Limited To Taxes, Lot Size, Age Of Property Are Not Guaranteed And Need To Be Independently Verified. Sold As Is, ALL CASH, Please email all offers with POF to [email protected]

18. 2025-06-06
    listed $600,000

    Show marketing remark (353 chars)

    NO INTERIOR ACCESS- THIS PROPERTY IS SOLD AS IS - INTERIOR CONDITION IS UNKNOWN - CASH ONLY This is a SHORT SALE pending bank approval. All Information Including But Not Limited To Taxes, Lot Size, Age Of Property Are Not Guaranteed And Need To Be Independently Verified. Sold As Is, ALL CASH, Please email all offers with POF to [email protected]

19. 1984-06-01
    soldstatus $40,000

ⓘ 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: $7,766 · $647/mo
• Projected year-2 tax: $8,953 · $746/mo
• Expected delta: +$1,187/yr (+$99/mo · 15.3%)

ⓘ 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 54% 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: $65,762
• − Mortgage interest: −$33,609
• − Property taxes: −$7,766
• − Insurance: −$3,000
• − Repairs & maintenance: −$5,261
• − Management: −$5,261
• − Depreciation: −$17,455
• Taxable loss: −$6,590
• Est. tax savings @ 24.0%: +$1,581
• After-tax cash flow: $5,010/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

+1400.0% since first listed

5 events — show timeline

• 2026-02-24 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-06-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-06-06 Listed $600,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-06 Listed $600,000 OneKey® MLS as Distributed by MLS Grid
• 1984-06-01 Sold (Public Records) $40,000 Public Records

Property tax history

+1.8%/yr

Latest (2024): $7,766 · -1.5% YoY. Source: county tax records.