Two-Story Duplex with
For Sale
$699,000
64 Stewart Avenue, Hempstead, NY 11550
Separate living areas, two kitchens, and a private driveway support flexible residential use.
Property Size1,164 SF
Days on Market11
Property Features for 64 Stewart Avenue
General Information
Standard status
Active
Size
1,164 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$14,325
Building Details
Building Size
1,164 SF
Year Built
1912
Buildings
1
Stories
2
Units
2
Listing Agency:
Next Level Real Estate NY
(516) 578-8332
Listed By:
Nancy Barbanell
(516) 578-8332
Source:
Millenniumhomes
Added: Aug 22
Changed: Aug 30
Last Checked: Aug 31 at 5:12PM
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 Next Level Real Estate NY
Investment Insights
Based on property information with market context.
Built in 1912, this duplex provides two distinct living areas across two levels, with four bedrooms, two full bathrooms, and two kitchens. The first floor combines two bedrooms with a kitchen, den, and bath, while the second floor includes two bedrooms, a kitchen, and a full bathroom. A full basement contains the utility systems and has been upgraded with a new gas boiler and hot water heater.
The property is located near shopping and transportation options, with the Long Island Rail Road approximately 0.4 miles away. A private driveway adds convenient on-site access. The layout supports separate residential spaces and offers the flexibility to occupy one area while renting the other, as described in the property information.
The property is located near shopping and transportation options, with the Long Island Rail Road approximately 0.4 miles away. A private driveway adds convenient on-site access. The layout supports separate residential spaces and offers the flexibility to occupy one area while renting the other, as described in the property information.
Key Highlights
- Two‑story duplex built in 1912
- Four bedrooms, two full bathrooms, and two kitchens
- Separate living areas with distinct first- and second‑floor layouts
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
$22,176
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
3.17%
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%
$443,520
$443.5K
Cap Rate 7%
$316,800
$316.8K
Cap Rate 9%
$246,400
$246.4K
Market Conditions
NOI Build-Up for 1,164 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
$33.5K $28.80/SF
− Vacancy
−$1.8K −$1.58/SF
EGI
$31.7K $27.22/SF
− OpEx
−$9.5K −$8.16/SF
NOI
$22.2K $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 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%
$443,520
Cap Rate 7%
$316,800
Cap Rate 9%
$246,400
Alternative Uses
Best Use
Multifamily LT 5
$316.8K
$277.2K – $369.6K
NOI $22,176 @ 7.0% cap · market cap 3.17%
Second Best
Apartment 5plus
$296.6K
$259.5K – $346.1K
NOI $20,763 @ 7.0% cap · market cap 2.97%
Theoretical Best
Specialty Retail
$769.6K
$673.4K – $897.9K
NOI $53,873 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,302
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate living areas, two kitchens, and a private driveway support flexible residential use.
Where is this duplex located?
The property is located at 64 Stewart Avenue Hempstead, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑story duplex built in 1912; Four bedrooms, two full bathrooms, and two kitchens; Separate living areas with distinct first- and second‑floor layouts
