| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 28th | Poor |
| Amenities | 87th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 27 Attorney St, Hempstead, NY, 11550, US |
| Region / Metro | Hempstead |
| Year of Construction | 1972 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
27 Attorney St Hempstead Multifamily Investment
Neighborhood signals point to a durable tenant base and median-like occupancy, according to WDSuite’s CRE market data, supporting an income-focused hold for a 20‑unit asset in Nassau County.
Located in Hempstead within the Nassau County–Suffolk County, NY metro, the property sits in a B‑rated neighborhood (ranked 280 of 608 metro neighborhoods). Investor read-through: daily-needs access and a sizable renter base support leasing stability, while occupancy trends are near the national midpoint with a slight five‑year improvement. All neighborhood figures are neighborhood‑level (not property‑specific) and sourced from WDSuite.
Access to essentials is a relative strength. The neighborhood is competitive among Nassau–Suffolk peers for overall amenities (rank 66 of 608) and lands in the top quartile nationally for parks and pharmacies; grocery and restaurant density also outpace national norms. This supports day‑to‑day livability and helps retention for workforce renters.
Neighborhood housing skews older (average vintage 1948), while this asset’s 1972 construction is newer than much of the surrounding stock. That profile can enhance competitive positioning versus pre‑war buildings, though investors should underwrite system modernization and interior upgrades common to 1970s assets for ongoing relevance.
Tenure patterns are favorable for multifamily. About 46.9% of housing units in the neighborhood are renter‑occupied (86th percentile nationally), indicating depth in the tenant base. Elevated home values (80th percentile nationally) and a high value‑to‑income ratio (94th percentile nationally) characterize a high‑cost ownership market that tends to sustain reliance on rentals. At the same time, the rent‑to‑income profile signals some affordability pressure, suggesting the need for disciplined renewals and amenity‑driven retention.
Within a 3‑mile radius, recent population and household growth with further gains projected point to a larger renter pool over time. The area’s above‑average household size aligns with demand for practical, mid‑size floor plans and supports occupancy stability in line with broader metro trends.
School ratings in the neighborhood run below national norms, which can influence some family renter decisions. Even so, proximity to jobs and daily‑needs retail often anchors steady demand in Urban Core locations like this.
Safety trends compare favorably at the national level. WDSuite indicates the neighborhood sits in the top quintile nationwide for lower violent‑offense rates (88th percentile) and at the high end for lower property‑offense rates (100th percentile). Estimated violent‑offense rates declined materially year over year (-70.8%), supporting a positive trend narrative.
Conditions can vary by block and over time; investors should corroborate with current sources and site visits. All figures reflect neighborhood‑level data and national percentiles for comparative context.
Nearby corporate offices across mortgage services, healthcare distribution, insurance, airlines, and defense & aerospace provide commute convenience that supports workforce renter demand and retention.
- Fernando Monasterio - Citizens Bank, Home Mortgages — mortgage services (10.4 miles)
- Henry Schein — medical & dental distribution (11.2 miles) — HQ
- Prudential — insurance (12.7 miles)
- JetBlue Airways — airline (17.2 miles) — HQ
- Lockheed Martin — defense & aerospace offices (18.9 miles)
27 Attorney St combines a manageable 20‑unit scale with a renter‑heavy neighborhood and strong daily‑needs access. The 1972 vintage is newer than much of the surrounding inventory, offering a clear value‑add path through system upgrades and interior improvements to compete against older stock. According to CRE market data from WDSuite, neighborhood occupancy trends are near the national median with modest five‑year improvement, while elevated ownership costs (high value‑to‑income) reinforce reliance on multifamily. Within a 3‑mile radius, population and household growth with further gains projected point to a larger tenant base over the hold.
Underwriting should account for affordability pressure implied by rent‑to‑income figures and for below‑average school ratings that may influence some segments. Thoughtful amenity positioning, renewal discipline, and expense control can sustain NOI while capturing steady renter demand supported by commute access to diverse employers.
- High renter‑occupied share at the neighborhood level supports demand depth and leasing stability.
- 1972 construction is newer than local averages, enabling value‑add through modernization vs. older stock.
- Demographic growth within 3 miles expands the tenant base and supports occupancy over time.
- Risks: rent‑to‑income affordability pressure and low school ratings call for disciplined renewals and targeted amenities.