Renovated Two-Unit
104 Grove Street, Hempstead, NY 11550
For Sale
New
$849,000
A three-bedroom-per-unit layout includes one occupied residence and one vacant, renovated residence.
Property Size1,952 SF
Price / SF$434.94
Days on Market3
Property Features for 104 Grove Street
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
First Floor Bedroom
Building Details
Building Size
Year Built
Units
Listing Agency:
Property Professionals Realty
Listed By:
Ravinderr J Singh
(929) 693-3925
Source:
Georgemcknight
Added: Nov 8
Last Checked: Nov 10 at 1:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Property Professionals Realty
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Investment Insights
Based on property information with market context.
This duplex contains two separate residences, each with three bedrooms, within a 1,952-square-foot property built in 1935. The second-floor unit is vacant and renovated, while the first-floor unit is occupied. The property will transfer with tenants in place.
Key Highlights
- Two separate units, each with 3 bedrooms
- First‑floor unit occupied; second‑floor unit vacant and renovated
- 1,952 square feet; built in 1935
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,188
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$743,760
$743.8K
Cap Rate 7%
$531,257
$531.3K
Cap Rate 9%
$413,200
$413.2K
Market Conditions
NOI Build-Up for 1,952 SF
Gross rent
$56.2K $28.80/SF
− Vacancy
−$3.1K −$1.58/SF
EGI
$53.1K $27.22/SF
− OpEx
−$15.9K −$8.16/SF
NOI
$37.2K $19.05/SF
Area
Nassau County, NY
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$743,760
Cap Rate 7%
$531,257
Cap Rate 9%
$413,200
Alternative Uses
Best Use
Multifamily LT 5
$531.3K
$464.9K – $619.8K
NOI $37,188 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$497.4K
$435.2K – $580.3K
NOI $34,819 @ 7.0% cap · market cap 4.10%
Theoretical Best
Specialty Retail
$1.29M
$1.13M – $1.51M
NOI $90,343 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,788
Businesses Nearby
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Business Placement
Demographics for 11550, NY
61,901
Population
19,579
Households
3.2
Avg Household Size
36
Median Age
21%
College-Educated
77%
High-School Grad
4.2 sq mi
ZIP Area
14,738
Density / Sq Mi
$86,904
Median Household Income
$40,662
Median Earnings
$1,647
Median Rent
$446,500
Median Home Value
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Market
Properties on Market for Duplexes in Nassau County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A three-bedroom-per-unit layout includes one occupied residence and one vacant, renovated residence.
Where is this duplex located?
The property is located at 104 Grove Street Hempstead, NY.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Two separate units, each with 3 bedrooms; First‑floor unit occupied; second‑floor unit vacant and renovated; 1,952 square feet; built in 1935
