| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 27th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 77 Terrace Ave, Hempstead, NY, 11550, US |
| Region / Metro | Hempstead |
| Year of Construction | 1973 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
77 Terrace Ave Hempstead Multifamily Investment
Positioned in an amenity-dense Urban Core pocket of Hempstead, this 32-unit asset benefits from a high neighborhood renter concentration and steady workforce demand, according to WDSuite’s commercial real estate analysis.
The immediate neighborhood ranks competitively for daily conveniences, with grocery access and restaurants placing in the top quartile among 608 metro neighborhoods. Cafes and childcare also test well versus metro peers, while park access is limited, signaling a more urban fabric. These dynamics support day-to-day renter appeal and leasing velocity, based on CRE market data from WDSuite.
Median home values in the neighborhood sit on the higher side for the region, which tends to reinforce reliance on multifamily housing and can help sustain pricing power. At the same time, neighborhood rent levels track above many U.S. areas, so asset management should balance growth objectives with affordability to protect retention and occupancy stability.
Neighborhood renter-occupied share is elevated relative to the metro, indicating a deep tenant base and durable demand for smaller-format units. For investors, that renter concentration translates to a broader leasing funnel and supports cash flow consistency through typical seasonal cycles.
Within a 3-mile radius, population and household counts have expanded and are projected to continue growing, pointing to a larger tenant base over time. This growth, combined with an amenity-rich setting, underpins long-term demand for rental units even as local schools average lower ratings versus national benchmarks.
Neighborhood safety indicators compare favorably at the national level, with overall conditions tracking in the top quartile nationally. Property-related incidents show strong year-over-year improvement momentum, and violent-offense measures also sit in a better-than-average national position. Compared with other parts of the Nassau–Suffolk metro (608 neighborhoods), recent trends suggest relative stability rather than localized volatility.
As always, investors should underwrite to submarket-level variability and review current, block-by-block data during due diligence; however, the broader neighborhood’s trajectory suggests supportive conditions for resident retention and long-term operations.
Proximity to regional employment centers supports workforce housing demand and commute convenience, led by financial services, healthcare supplies, insurance, airlines, and pharmaceuticals in the surrounding trade area.
- Fernando Monasterio - Citizens Bank, Home Mortgages — financial services (11.1 miles)
- Henry Schein — medical & dental supplies (11.9 miles) — HQ
- Prudential — insurance (12.0 miles)
- Jetblue Airways — airline operations (16.4 miles) — HQ
- Pfizer — pharmaceuticals (18.2 miles) — HQ
Built in 1973, the property is newer than much of the local housing stock yet still an older vintage by institutional standards, creating scope for targeted capital improvements and value-add repositioning. Neighborhood renter-occupied share is high, supporting a deep tenant base for the 32 smaller-format units. According to CRE market data from WDSuite, local occupancy trends run below the metro median, so investors should emphasize retention and renewal strategies while leveraging the area’s strong everyday amenities.
Within a 3-mile radius, population and households have grown and are projected to expand further, which can support lease-up velocity and stabilize occupancy over the hold period. Elevated home values in the neighborhood also point to a high-cost ownership market, which tends to sustain rental demand and pricing power when managed alongside rent-to-income considerations.
- High neighborhood renter concentration supports a deep tenant base for sustained leasing
- Amenity-rich Urban Core location (groceries, restaurants, pharmacies) enhances resident appeal
- 1973 vintage offers targeted value-add and modernization potential versus older local stock
- Broader 3-mile growth outlook supports occupancy stability and renewal pricing
- Risks: neighborhood occupancy below metro median, limited parks, and lower school ratings require active management