| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Good |
| Demographics | 23rd | Poor |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 43 Evans Ave, Hempstead, NY, 11550, US |
| Region / Metro | Hempstead |
| Year of Construction | 1982 |
| Units | 42 |
| Transaction Date | 2009-05-28 |
| Transaction Price | $8,310,000 |
| Buyer | GROVE STREET LP |
| Seller | LINDEN COURT ASSOCIATES L |
43 Evans Ave, Hempstead NY Multifamily Investment
Neighborhood occupancy trends in the low-90s and a renter-occupied share just over half point to durable tenant demand, according to WDSuite’s CRE market data. Positioned for steady cash flow with potential operational upside in a supply-constrained Long Island submarket.
Located in Hempstead’s Urban Core, 43 Evans Ave sits in a renter-friendly area where roughly half of housing units are renter-occupied. For investors, that renter concentration supports a deeper tenant base and leasing stability relative to more owner-heavy Long Island pockets, while neighborhood occupancy has remained in the low-90s, suggesting steady absorption and retention potential.
Daily needs are well covered: grocery and pharmacy access rank competitively among 608 Nassau–Suffolk metro neighborhoods, and amenity density places the area in the top quartile nationally. Restaurants and childcare availability also score in the national top decile, supporting day-to-day convenience that can aid resident retention. School ratings trail national benchmarks, which may concentrate demand among young professionals and households prioritizing proximity and commute efficiency over school performance.
The property’s 1982 vintage is newer than the neighborhood’s older housing stock (average construction year 1944). That relative youth can improve competitive positioning versus pre-war inventory; however, investors should plan for targeted modernization and system updates typical of 1980s assets to protect NOI and reduce future capex surprise.
Within a 3-mile radius, population and household counts have risen in recent years, with forecasts calling for further growth and a larger family base. Rising household incomes alongside elevated ownership costs in the area (home values trend high for Long Island and rank in upper national percentiles) typically sustain reliance on multifamily rentals, supporting occupancy stability and measured pricing power. Lease management should still account for affordability pressure as rents have grown, balancing renewal strategy with retention goals.
Safety indicators present a mixed picture. Compared with other neighborhoods in the Nassau–Suffolk metro (608 total), the area ranks toward the higher-crime end, signaling investors should budget for proactive property management and security measures. At the same time, national comparisons indicate better-than-average standing, with recent data showing improvement in violent offenses year over year and a modest decline in property offenses. This combination suggests local operating vigilance is prudent even as broader trendlines are moving in a favorable direction.
Proximity to major corporate employers helps support renter demand and commute convenience, with a concentration in finance, healthcare, and air transportation reflected below.
- Fernando Monasterio - Citizens Bank, Home Mortgages — financial services (11.3 miles)
- Prudential — financial services (12.0 miles)
- Henry Schein — healthcare distribution (12.0 miles) — HQ
- Jetblue Airways — air transportation HQ & corporate (16.7 miles) — HQ
- Lockheed Martin — defense & aerospace offices (18.4 miles)
1982 construction offers a relative edge versus older nearby stock while still warranting targeted modernization to enhance competitiveness and control long-term capex. Neighborhood occupancy has held in the low-90s and more than half of units in the area are renter-occupied, underpinning depth of demand. Elevated home values across Long Island tend to sustain reliance on rentals, and within a 3-mile radius, population and household growth expand the tenant pool and support steady lease-up and retention. These fundamentals are consistent with regional patterns observed in commercial real estate analysis from WDSuite.
Operationally, amenity density and access to employers can aid leasing velocity, but below-average school ratings and localized safety considerations within the metro call for active management and resident experience programming. Affordability management should remain central to renewal strategy as rents and incomes evolve.
- Newer 1982 vintage versus older neighborhood stock, with value-add via selective upgrades
- Renter-occupied share just over half supports a sizable tenant base and occupancy stability
- Strong amenity access and proximity to diverse employers back leasing and retention
- Elevated for-sale housing costs reinforce sustained multifamily demand
- Risks: lower school ratings, mixed safety signals within the metro, and affordability pressure requiring careful lease management