45 Alabama Ave · Hempstead, NY 11550

$437,000

4 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 13 Days on market

Built 1952 6,962 sqft lot Est $660k · 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 +21.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +6.0/10.0
• 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

Welcome to 45 Alabama Ave, Hempstead, NY 11550. This single-family residence offers a great opportunity for buyers looking to renovate, customize, or invest in a well-located Long Island neighborhood. The property features a traditional layout with ample living space, a private driveway, and a backyard with room for outdoor enjoyment or future improvements. Conveniently located near local shopping, schools, public transportation, major roadways, and community amenities, this home provides easy access to daily necessities and commuting routes. Ideal for owner-occupants seeking to create their dream home or investors looking for a value-add project.

Key facts

• Private driveway
• Backyard
• 6,962 sq ft lot

Tags

• PRIVATE DRIVEWAY
• BACKYARD
• WELL-LOCATED NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $437k.

Deal economics

• At list price, monthly cash flow is $617 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $437k).
• Cap rate 8.0% 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: Rhodes Academy of Humanities And The Arts (739 students, 58% 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).
• Market conditions: 167 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 $4,806/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 $13k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

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 $437,000

Questions for the listing agent

1. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.10% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.05%
• DSCR: 1.27
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $659,904
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
45 Alabama Ave	0.00mi	4/2.0	1,344 (0%)	0mo	$485,000	$361	96
206 W Marshall St	0.31mi	4/1.0	1,277 (-5%)	3mo	$550,000	$431	75
54 W Marshall St	0.03mi	3/1.5 (-1)	1,472 (+10%)	2mo	$475,000	$323	74
578 Irene St	0.46mi	3/2.0 (-1)	1,343 (-0%)	4mo	$660,000	$491	66
34 Heath Pl	0.67mi	4/2.0	1,294 (-4%)	2mo	$640,000	$495	56
77 Virginia Ave	0.32mi	5/2.0 (+1)	1,493 (+11%)	3mo	$593,000	$397	55
311 Cedar St	0.53mi	3/3.0 (-1)	1,405 (+4%)	1mo	$700,000	$498	54
138 Windsor Pkwy	0.50mi	3/3.0 (-1)	1,242 (-8%)	1mo	$735,000	$592	50
1139 Webber Ave	0.53mi	3/2.0 (-1)	1,224 (-9%)	4mo	$709,000	$579	48
34 Frazier St	0.63mi	3/1.5 (-1)	1,472 (+10%)	1mo	$480,000	$326	46
248 Kennedy Ave	0.74mi	3/2.0 (-1)	1,474 (+10%)	3mo	$740,000	$502	38
141 Brown Ave	0.73mi	4/3.0	1,541 (+15%)	4mo	$744,600	$483	30

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: -6.9%
• Equity multiple: 0.74×
• Total profit: $-31,320
• Equity at exit: $65,158

10-year hold

• IRR: 2.7%
• Equity multiple: 1.20×
• Total profit: $24,054
• Equity at exit: $37,784

Cash invested: $122,360 (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: 7.6×

Monthly cashflow live

• Estimated rent: $4,806 high
• Mortgage (P&I): −$2,292
• Tax from tax record: −$705 /mo · $8,463/yr
• Insurance: −$182
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,009
• Net cashflow: $617

Break-even live

Break-even rent $4,024

Max offer price $437,000

Occupancy floor 82%

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: $109,250
• Closing costs: $13,110
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12 Elm Ave Unit 1 Hempstead, NY	3.0	1.0	970	$3,500	$3.61	18d	1	0.61mi
54 Kane Ave Hempstead, NY	5.0	2.0	1750	$4,800	$2.74	43d	1	0.76mi
366 Greenwich St Hempstead, NY	3.0	1.5	1504	$4,000	$2.66	1d	1	0.88mi
533 Greenwich St Unit 1D Hempstead, NY	3.0	2.0	1103	$4,000	$3.63	43d	1	1.03mi
582 Washington Ave West Hempstead, NY	4.0	1.0	1440	$4,500	$3.12	13d	1	1.16mi
130 Hempstead Ave West Hempstead, NY	1.0–3.0	1.0–2.0	1113	$4,726	$4.25	1d	6	1.24mi
111 Hempstead Tpke West Hempstead, NY	3.0	1.0–2.5	1226	$6,776	$5.52	1d	87	1.35mi
345 Walton St West Hempstead, NY	4.0	2.5	1274	$4,525	$3.55	1d	1	1.37mi

Listing history 2 events

1. 2026-01-26
   status Pending
2. 2026-01-13
   listed $437,000 Active

ⓘ 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: $8,463 · $705/mo
• Projected year-2 tax: $8,463 · $705/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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 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: $57,667
• − Mortgage interest: −$24,479
• − Property taxes: −$8,463
• − Insurance: −$2,185
• − Repairs & maintenance: −$4,613
• − Management: −$4,613
• − Depreciation: −$12,713
• Taxable income: $601
• Est. tax owed @ 24.0%: −$144
• After-tax cash flow: $7,265/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

2 events — show timeline

• 2026-01-26 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-13 Listed $437,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+4.1%/yr

Latest (2024): $8,463 · +61.1% YoY. Source: county tax records.