271 Ivy St · West Hempstead, NY 11552

$657,200

5 bd · 3.0 ba · 1,315 sqft · MultiFamily public records · 60 Days on market

Built 1952 5,000 sqft lot $500/sqft · 22% below area Est $845k · 22% under

---

Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +7.2/30.0
• Schools +5.4/10.0
• Livability +4.3/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• 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

Welcome to West Hempstead NY. AS-IS SALE property. This property is a single family residence that appears was being converted into units. Appraisal shows it as a five-bedroom, two-bathroom with a lot size of 5,000 sq. ft. Appears the basement and possibly the garage were converted as ADU’s at one time. Selling AS IS. Buyers to inspect prior to bidding. The Buyer's due diligence needs to be conducted prior to bidding, as the high bidder will receive an AS-IS only contract.

Key facts

• 5,000 sq ft lot
• 2 garage spots
• Built 1952

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $657k.

Deal economics

• At list price, monthly cash flow is $-902 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $498k (24.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $507k (22.9% below list).
• Recommended offer: $498k (24.2% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 3.8% in West Hempstead — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Zoned schools: George Washington School (math 39% / reading 54%, grade D+, #330 of 729 statewide, top 46%, 336 students, 48% FRL); West Hempstead Secondary School (math 92% / reading 92%, grade A+, #171 of 1,100 statewide, top 18%, 783 students, 50% FRL) — zoned schools average 49% FRL vs 29% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 101 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• This rent runs 39% of the median local income ($155k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k 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 60 days — a 3% lower offer ($637k) is reasonable based on typical stale-listing flexibility.
• 2 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 $490k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 51% 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 $497,900 (24.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1952 — 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 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.77% ✗
• Cap rate: 4.65%
• Cash-on-cash: -5.88%
• DSCR: 0.74
• GRM: 10.8

CMA / ARV

• ARV (median comp): $845,136
• List price: $657,200
• Delta: -22.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -26.3%
• Equity multiple: 0.11×
• Total profit: $-163,630
• Equity at exit: $97,991

10-year hold

• IRR: -23.2%
• Equity multiple: -0.17×
• Total profit: $-215,228
• Equity at exit: $56,823

Cash invested: $184,016 (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: 10.8×

Monthly cashflow live

• Estimated rent: $5,065 medium
• Mortgage (P&I): −$3,446
• Tax from tax record: −$1,183 /mo · $14,196/yr
• Insurance: −$274
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,064
• Net cashflow: $-902

Break-even live

Break-even rent $6,207

Max offer price $497,900

Occupancy floor —

Sensitivity live

Price	-10% $-530	-5% $-716	+0% $-902	+5% $-1,088	+10% $-1,274
Rent	-10% $-1,302	-5% $-1,102	+0% $-902	+5% $-702	+10% $-502
Rate	-1.0pp $-571	-0.5pp $-735	base $-902	+0.5pp $-1,072	+1.0pp $-1,245

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: $164,300
• Closing costs: $19,716
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
345 Walton St West Hempstead, NY	4.0	2.5	1274	$4,525	$3.55	0d	1	0.70mi
582 Washington Ave West Hempstead, NY	4.0	1.0	1440	$4,500	$3.12	14d	1	1.09mi
322 Harvard Rd S Garden City, NY	4.0	1.5	1200	$4,300	$3.58	4d	1	1.13mi
330 Harvard Rd S Garden City, NY	4.0	1.5	1389	$4,600	$3.31	18d	1	1.14mi

Listing history 10 events

1. 2026-05-12
   status Pending 483-char remark

   Show marketing remark (483 chars)

   Welcome to West Hempstead NY. AS-IS SALE property. This property is a single family residence that appears was being converted into units. Appraisal shows it as a five-bedroom, two-bathroom with a lot size of 5,000 sq. ft. Appears the basement and possibly the garage were converted as ADU’s at one time. Selling AS IS. Buyers to inspect prior to bidding. The Buyer's due diligence needs to be conducted prior to bidding, as the high bidder will receive an AS-IS only contract.

2. 2026-03-13
   listed $657,200 Active 483-char remark

   Show marketing remark (483 chars)

   Welcome to West Hempstead NY. AS-IS SALE property. This property is a single family residence that appears was being converted into units. Appraisal shows it as a five-bedroom, two-bathroom with a lot size of 5,000 sq. ft. Appears the basement and possibly the garage were converted as ADU’s at one time. Selling AS IS. Buyers to inspect prior to bidding. The Buyer's due diligence needs to be conducted prior to bidding, as the high bidder will receive an AS-IS only contract.

3. 2026-03-03
   historical
4. 2026-02-04
   listed $773,800 Active
5. 2006-04-19
   soldstatus $490,000
6. 2005-02-11
   soldstatus $396,000
7. 2003-10-31
   soldstatus $305,000
8. 1999-04-14
   soldstatus $180,000
9. 1991-01-02
   soldstatus $110,000
10. 1988-03-22
    soldstatus $175,000

ⓘ 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: $14,196 · $1,183/mo
• Projected year-2 tax: $14,196 · $1,183/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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 51% 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: $60,783
• − Mortgage interest: −$36,813
• − Property taxes: −$14,196
• − Insurance: −$3,286
• − Repairs & maintenance: −$4,863
• − Management: −$4,863
• − Depreciation: −$19,119
• Taxable loss: −$22,357
• Est. tax savings @ 24.0%: +$5,366
• After-tax cash flow: $-5,456/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: 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

+275.5% since first listed

10 events — show timeline

• 2026-05-12 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-13 Listed $657,200 OneKey® MLS as Distributed by MLS Grid
• 2026-03-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-02-04 Listed $773,800 OneKey® MLS as Distributed by MLS Grid
• 2006-04-19 Sold (Public Records) $490,000 Public Records
• 2005-02-11 Sold (Public Records) $396,000 Public Records
• 2003-10-31 Sold (Public Records) $305,000 Public Records
• 1999-04-14 Sold (Public Records) $180,000 Public Records
• 1991-01-02 Sold (Public Records) $110,000 Public Records
• 1988-03-22 Sold (Public Records) $175,000 Public Records

Property tax history

+3.6%/yr

Latest (2024): $14,196 · +0.1% YoY. Source: county tax records.