Updated Co-op with Private
For Sale
$319,000
Pending
60 Hempstead Ave 1K, Lynbrook, NY 11563
Updated 1 bedroom co-op with balcony in Lynbrook Village.
Property Size775 SF
Days on Market312
Property Features for 60 Hempstead Ave 1K
General Information
Standard status
Pending
Size
775 SF
Property subtype
Residential
Building Details
Building Size
775 SF
Year Built
1960
Listed By:
Jamie Deutsch
(516) 728-1731
Source:
Elliman
Added: Nov 27, 2025
Changed: Sep 23
Last Checked: Oct 4 at 10:55AM
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 Jamie Deutsch
Investment Insights
Based on property information with market context.
This updated 1 bedroom, Junior 4 Co-op is located in the heart of Lynbrook Village, situated on the 2nd level, which is the 1st residential floor of Penbrook House. It is a corner unit featuring windows in each room and a private balcony. The kitchen has been updated with stainless steel appliances, quartz countertops, and tile flooring. The bathroom features mosaic tile flooring and subway wall tile. Residents have access to a heated, inground pool and a large deck furnished with lounge chairs, tables, and umbrellas. The property is located within a short walk to the LIRR, downtown Lynbrook, stores, and shops. Heat, water, and 1 parking space in an adjacent lot are included.
Key Highlights
- Updated 1 bedroom Junior 4 Co‑op with private balcony.
- New kitchen featuring stainless steel appliances and quartz countertops.
- Convenient location: short walk to LIRR and downtown Lynbrook.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,824
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$276,480
$276.5K
Cap Rate 7%
$197,486
$197.5K
Cap Rate 9%
$153,600
$153.6K
Market Conditions
NOI Build-Up for 775 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.3K $33.96/SF
− Vacancy
−$1.2K −$1.53/SF
EGI
$25.1K $32.43/SF
− OpEx
−$11.3K −$14.59/SF
NOI
$13.8K $17.84/SF
Area
Nassau County, NY
Vacancy
4.50%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$276,480
Cap Rate 7%
$197,486
Cap Rate 9%
$153,600
Alternative Uses
Best Use
Apartment 5plus
$197.5K
$172.8K – $230.4K
NOI $13,824 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$512.4K
$448.4K – $597.8K
NOI $35,869 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,118
Businesses Nearby
Explore this area
Business Placement
Demographics for 11563, NY
23,349
Population
8,088
Households
2.9
Avg Household Size
43
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
10,152
Density / Sq Mi
$138,006
Median Household Income
$65,565
Median Earnings
$2,173
Median Rent
$595,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated 1 bedroom co-op with balcony in Lynbrook Village.
Where is this apartment building located?
The property is located at 60 Hempstead Ave 1K Lynbrook, NY.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Updated 1 bedroom Junior 4 Co‑op with private balcony.; New kitchen featuring stainless steel appliances and quartz countertops.; Convenient location: short walk to LIRR and downtown Lynbrook.
