| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 28th | Poor |
| Amenities | 87th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 42 Attorney St, Hempstead, NY, 11550, US |
| Region / Metro | Hempstead |
| Year of Construction | 1975 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
42 Attorney St, Hempstead NY Multifamily Investment
Neighborhood renter-occupied share is elevated and occupancy has been broadly stable, supporting durable tenant demand according to CRE market data from WDSuite.
Hempstead s Urban Core setting offers everyday convenience that supports leasing: strong access to groceries, pharmacies, parks, and restaurants sits above national norms, and the neighborhood s amenity profile ranks 66th among 608 metro neighborhoods (top quartile in Nassau County Suffolk County). Caf e9 density is thinner, but daily-needs retail is well represented, helping residents manage short-trip errands.
Rents in the neighborhood are above national averages with solid five-year growth, while neighborhood occupancy trends are around the national midpoint. The local housing stock skews older than average for the metro, which can make 1970s assets comparatively competitive after targeted modernization. Median home values are elevated for the region, which generally keeps many households in the renter pool and can bolster lease retention for well-managed multifamily properties.
Within a 3-mile radius, population and household counts have increased over the past five years, and forecasts point to further gains through the next cycle. Higher median and mean household incomes in the 3-mile area expand the qualified renter base and can support rent rolls when paired with disciplined leasing.
Tenure data underscores demand depth: the neighborhood s share of renter-occupied housing units is high (ranked 23rd of 608 metro neighborhoods), indicating a sizable multifamily tenant base. School ratings trend below national averages, so investors should emphasize property-level amenities, transit access, and unit finishes to remain competitive with nearby options.
Safety indicators show mixed positioning depending on the comparison set. Nationally, the neighborhood scores in the top decile for both lower property offenses and lower violent offenses, and recent year-over-year readings indicate meaningful declines, according to WDSuite s CRE market data. Within the Nassau County Suffolk County metro, however, the composite crime rank sits near the lower end (9th among 608 neighborhoods), signaling higher reported incidents than many local peers. Investors should underwrite with standard precautions, rely on current comp sets, and focus on property-level measures that support resident comfort and retention.
Proximity to a diversified employment base supports renter demand and commute convenience, including mortgage services, healthcare products, financial services, airlines, and defense & aerospace offices listed below.
- Fernando Monasterio - Citizens Bank, Home Mortgages mortgage services (10.4 miles)
- Henry Schein healthcare products (11.2 miles) HQ
- Prudential financial services (12.7 miles)
- Jetblue Airways airlines (17.2 miles) HQ
- Lockheed Martin defense & aerospace offices (18.9 miles)
42 Attorney St is a 20-unit asset built in 1975, a vintage that often benefits from targeted value-add and system modernization to sharpen competitive positioning against older local stock. The surrounding neighborhood shows steady renter demand with an above-median renter-occupied share and occupancy near national norms; elevated ownership costs in the area tend to reinforce reliance on multifamily housing. Based on CRE market data from WDSuite, neighborhood NOI per unit trends above many U.S. areas, and national safety benchmarks have improved, which supports leasing stability when paired with prudent operations.
Within a 3-mile radius, recent gains in population and households, alongside higher local incomes, expand the qualified renter pool. Average unit sizes here are compact, which can support strong rent per square foot and appeal to households prioritizing access and value, though lease management should account for potential turnover sensitivity and rent-to-income pressure.
- 1975 vintage with value-add and system-upgrade potential versus older neighborhood stock
- High neighborhood renter-occupied share supports tenant base depth and leasing velocity
- Elevated home values sustain renter reliance on multifamily, aiding retention
- 3-mile area growth and higher incomes support occupancy stability and pricing power
- Risks: metro-relative safety rank, school ratings, and rent-to-income pressure warrant conservative underwriting