| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 28th | Poor |
| Amenities | 87th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 60 Hendrickson Ave, Hempstead, NY, 11550, US |
| Region / Metro | Hempstead |
| Year of Construction | 1972 |
| Units | 34 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
60 Hendrickson Ave Hempstead Multifamily Investment Opportunity
Neighborhood renter concentration and stable occupancy point to durable tenant demand, according to WDSuite’s CRE market data. Elevated ownership costs in Nassau County further support leasing fundamentals for well-managed assets.
This Urban Core location in Hempstead benefits from everyday convenience: neighborhood data shows strong access to groceries, parks, and pharmacies relative to many U.S. areas, which supports resident retention and day-to-day livability. Restaurant density is also competitive for the metro, while café options are more limited. School ratings in the surrounding area trend below national norms, an operational consideration for family-oriented leasing strategies rather than a determinant of property performance.
On housing dynamics, the neighborhood’s occupancy rate trends near national medians, suggesting steady but competitive leasing conditions. Crucially for multifamily investors, about half of housing units are renter-occupied at the neighborhood level, placing the area in the higher renter concentration cohort among Nassau–Suffolk neighborhoods; that depth of the tenant base can underpin absorption and support occupancy management.
Within a 3-mile radius, demographics indicate population growth alongside an increase in households and families over the last five years, with projections pointing to continued expansion through the next period. Rising incomes in the same radius broaden the potential renter pool for renovated units, while a modest decline in average household size implies demand for smaller layouts and efficient floor plans.
For context, median home values rank high relative to national benchmarks, and value-to-income metrics are elevated; in practical terms, this is a high-cost ownership market where rental housing remains an essential option. For operators, this tends to sustain rental demand and can support pricing power, balanced against retention management where rent-to-income ratios run higher. The subject property was built in 1972, newer than the neighborhood’s older housing stock, which can provide a competitive edge versus pre-war assets while still warranting targeted capital planning for aging systems or value-add upgrades.
Safety signals are mixed depending on the comparison set. Within the Nassau–Suffolk metro, the neighborhood sits in a higher-crime cohort (ranked 9 out of 608 metro neighborhoods), indicating investors should underwrite prudent security and operational protocols. However, compared with neighborhoods nationwide, WDSuite’s data places the area in stronger safety percentiles overall, with property and violent offense measures trending in favorable tiers.
Recent year-over-year estimates also indicate declines in both violent and property offense rates, suggesting improving momentum. As always, investors should calibrate assumptions to property-level measures and ownership practices, using regional benchmarks as directional context rather than block-level conclusions.
The broader employment base combines healthcare, financial services, and corporate operations within commuter distance, supporting workforce housing demand and lease retention for residents prioritizing access to Nassau and western Long Island job centers. Notable nearby employers include Citizens (mortgages), Henry Schein, Prudential, JetBlue, and Lockheed Martin.
- Fernando Monasterio - Citizens Bank, Home Mortgages — financial services (10.1 miles)
- Henry Schein — healthcare distribution (10.8 miles) — HQ
- Prudential — financial services (13.1 miles)
- Jetblue Airways — airline HQ & corporate (17.5 miles) — HQ
- Lockheed Martin — defense & aerospace offices (19.2 miles)
The asset at 60 Hendrickson Ave is a 34-unit 1972-vintage property positioned in a renter-heavy Hempstead neighborhood with steady occupancy and strong proximity amenities. Elevated home values in Nassau County reinforce reliance on rental housing, while national benchmarking suggests the area compares favorably on safety, according to CRE market data from WDSuite. Within a 3-mile radius, population and household growth expand the tenant base and support ongoing demand for well-managed units.
Vintage relative to the neighborhood’s older stock provides a competitive posture versus pre-war buildings, while still calling for targeted capital planning and potential value-add modernization. Rent-to-income dynamics indicate both pricing power and retention risk; operators who pair unit upgrades with thoughtful lease management should be able to balance growth and stability in this Urban Core location.
- Renter-heavy neighborhood supports demand depth and occupancy stability.
- High-cost ownership context sustains reliance on rentals and pricing power.
- 1972 vintage is newer than local averages, with value-add and system-upgrade potential.
- Favorable national safety positioning with recent downward offense trends.
- Risk: Elevated rent-to-income ratios require careful renewal strategy and resident retention focus.