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Franklin Square 11010 Franklin Square
1023 Lorraine Drive
$500,000
● House - Off Market

1023 Lorraine Drive

Hempstead, NY 11010
bedrooms
4 Beds
bathrooms
2 Baths
$747,449
RealtyHop Estimate
49.52%
Since Feb 1, 2018
NY-New York
Primary Model

About This Property

Large Expanded Cape In The Heart Of Franklin Square.  New Kitchen. Updated Electric.  Hardwood Floors Throughout.  Close To Parkways.  Possible Mother Daughter With Proper Permits.  Don't Miss This Great Opportunity, It Will Go Fast., Additional information: Appearance:Mint,Separate Hotwater Heater:Y
Unit Size
-
Days on Market
-
Land Size
0.16 acres
Price per sqft
-
Property Type
House
Property Taxes
$1,246
HOA Dues
-
Year Built
1950

Payment Calculator

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 4 months ago (OneKey MLS #KEYL2963432)

Price History

Date / Event Date Event Price
Mar 1, 2018 Sold
Premium
Sold
Jan 23, 2018 Sold
Premium
Sold
Aug 15, 2017 Listed by Educators Realty Inc $499,900
Listed by Educators Realty Inc

Property Highlights

Garage

Building Info

Overview

    General

  • Year Built: 1950
  • Effective Year Built: 1950
  • Total Rooms: 8
  • Bedroom Count: 0
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Bathroom Plumbing Fixtures: 1
  • Building Condition: 3
  • Building Quality: 9
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 24
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 20
  • Floor Count: 200
  • Living Units: 2
  • Floor Cover: 0
  • Basement Type: 2
  • Basement Area: 0
  • Garage Type: 4
  • Garage Square Area: 280
  • Parking Space Count: 1
  • Patio Type: 20
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 7,000
  • Lot Size Depth Feet: 980
  • Lot Size Frontage Feet: 680
  • Total Building Area: 1,831
  • Gross Building Area: 1,831
  • Building Area: 1,831
  • Building Area Measurement: T

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 3
  • Heated Square Feet: 1,831
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 1
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: MAP OF FRANKLIN HEATH
  • Land Acres: 0000000161
  • Standard Land Use Code: 1101
  • County Land Use Code: 2200
  • Legal Description 1: TOWN #1 SCH DIST 013

Neighborhood

  • School District Name: Valley Stream Central High School District
  • School Tax School District: 013
  • Census Tract: 405700

Geography

  • District: 282089
  • Section: 35
  • Parcel: 35-531-00-0021
  • Block: 531
  • Lot: 21
  • Municipality: HEMPSTEAD UNINCORPORATED
  • Latitude: 40.6915
  • Longitude: -73.6793

    Address

  • Full Address: 1023 Lorraine Dr
  • Address - House Number: 1023
  • Address - Street Name: Lorraine
  • Address - Suffix Type: Dr
  • State: NY
  • City Name: Franklin Square
  • Carrier Code: C013
  • 4-Digit Zip Code: 1839
  • Zip Code: 11010

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $1,165,947
  • Tax Rate Code Area: 191

    Appraisal Valuation

  • Standard Deviation: 0.1782
  • Valuation Date: Jun 28, 2023
  • Confidence Score: 76
  • Final Value: 723,548
  • High Value: 852,553
  • Low Value: 594,543

    Market Valuation

  • Market Total Value: $522,000

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $522
  • Assessed Land Value: $235
  • Assessed Improvements Value: $287

    Sales

  • Current Sale Contract Date: Jan 23, 2018
  • Current Sale Recording Date: Mar 01, 2018
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 20180019245

    Financing

  • First Mortgage Financing Type: FIX
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Franklin Square

Stats & Trends

Median Asking:

$799,999

Sale Price/ft²

$554

Below Asking

0.01%

Average Days on Market

83

Average Home Size

1677 ft²

Average Home Age

71 years

Currently For Sale

42 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 625 Tulip Avenue, Stewart Manor, NY, 11530

$2,975 /mo

  • 1 Bed
  • 1 Bath
  • 595 ft²
625 Tulip Avenue #A3, Stewart Manor, NY, 11530 Listing by Michelle Holmes
Unit for rent at 207 Catherine Avenue, Franklin Square, NY, 11010

$6,500 /mo

  • 5 Beds
  • 2 Baths
  • 1,969 ft²
207 Catherine Avenue, Franklin Square, NY, 11010 Listing by Lucy A. Brunelli
Unit for rent at 150 Covert Avenue, Stewart Manor, NY, 11530

$3,380 /mo

  • 2 Beds
  • 1 Bath
  • 755 ft²
150 Covert Avenue #G2, Stewart Manor, NY, 11530 Listing by Michelle Holmes

Rentals Near You

Click here to view more rentals in the neighborhood.
OneKey

Last Updated: 4 months ago
Data Source: OneKey MLS

Frequently Asked Questions

When was property at 1023 Lorraine Drive built and last sold?
The property at 1023 Lorraine Drive was built in 1950 and last sold on Jan 23, 2018 for $500,000.
How much is this home worth?
The estimated value of the home located at 1023 Lorraine Drive is $504,899.
What are some comparable homes to 1023 Lorraine Drive?
There are currently no comparable homes to 1023 Lorraine Drive.
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