| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Good |
| Demographics | 23rd | Poor |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10 Grove St, Hempstead, NY, 11550, US |
| Region / Metro | Hempstead |
| Year of Construction | 1982 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
10 Grove St, Hempstead NY Multifamily Investment
Neighborhood occupancy trends in the low-90% range point to steady renter demand near 10 Grove St, according to WDSuite’s CRE market data. Investors may find durable leasing supported by a deep renter base in an Urban Core pocket of Nassau County.
This Urban Core neighborhood in Hempstead scores a B neighborhood rating and sits above the metro median (rank 284 of 608) for overall balance of livability and demand, based on CRE market data from WDSuite. Amenity access is a relative strength: restaurant and grocery density track in the upper tiers nationally, and the area is competitive among Nassau County–Suffolk County neighborhoods on overall amenities (rank 21 of 608; top quartile nationally). Daily-needs convenience can support resident retention and leasing velocity.
The property s 1982 vintage is newer than the neighborhood s older housing stock (average construction year around the mid-20th century), which helps its competitive positioning versus prewar assets. Investors should still plan for systems modernization typical of 1980s buildings, but the relative vintage can reduce near-term obsolescence risk compared with older comparables.
Tenure patterns indicate a substantial renter-occupied share at the neighborhood level (just over half of housing units are renter-occupied), signaling depth in the tenant base and supporting occupancy stability through cycles. Within a 3-mile radius, population and household counts have grown in recent years with additional gains forecast, implying a larger renter pool and sustained demand for multifamily units.
Ownership costs are elevated for the neighborhood in a national context, and value-to-income metrics rank in a high national percentile. That high-cost ownership backdrop typically sustains reliance on rental housing and can support pricing power and lease retention for well-managed workforce assets. A watchpoint: local school scores benchmark in a low national percentile, and park access is limited, which may cap appeal for some family renters despite strong access to groceries, pharmacies, and childcare.
Safety trends present a nuanced picture. Compared with neighborhoods nationwide, this area benchmarks in the top quartile for overall safety (national percentile in the mid-70s), and recent data show a notable year-over-year decline in estimated violent offenses, according to WDSuite. Property crime indicators also compare favorably nationally, landing among the strongest cohorts.
Within the Nassau County–Suffolk County metro, however, the neighborhood s crime rank (25 out of 608) indicates it trails many local peers on this measure. For underwriting, this means investor messaging and on-site management practices should emphasize resident experience and visibility, while recognizing that the broader national comparison remains comparatively favorable.
Regional employers within commutable distances support a broad renter base, spanning healthcare distribution, insurance and financial services, airlines, and defense. These job centers can underpin leasing and retention for workforce-oriented multifamily.
- Fernando Monasterio - Citizens Bank, Home Mortgages banking & home lending (11.2 miles)
- Henry Schein health products distribution (11.9 miles) HQ
- Prudential insurance & financial services (12.1 miles)
- Jetblue Airways airline HQ & corporate (16.7 miles) HQ
- Lockheed Martin defense & aerospace offices (18.4 miles)
10 Grove St offers a 56-unit footprint in an amenity-rich Urban Core location where neighborhood occupancy trends in the low-90% range and a renter-occupied share just over half point to a durable tenant base. According to commercial real estate analysis from WDSuite, the area s ownership costs are high relative to incomes in national context, which typically sustains reliance on rental housing and supports pricing power for competitive Class B assets.
Built in 1982, the asset is newer than much of the surrounding housing stock, suggesting relative competitiveness versus older prewar buildings while still warranting capital planning for 1980s-era systems and potential value-add renovations. Strong access to groceries, restaurants, pharmacies, and childcare enhances day-to-day livability, while safety benchmarks are favorable nationally but mixed versus metro peers a manageable risk with attentive operations.
- Stable neighborhood occupancy and sizable renter-occupied base support leasing durability
- High-cost ownership market reinforces multifamily demand and potential pricing power
- 1982 vintage offers competitive positioning vs. older stock with value-add potential
- Amenity-rich location (groceries, restaurants, pharmacies, childcare) aids retention
- Risks: weaker school ratings, limited park access, and safety that underperforms some metro peers