| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 24th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 115 Fountain Ave, Brooklyn, NY, 11208, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2009 |
| Units | 43 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
115 Fountain Ave, Brooklyn — 2009-Built Multifamily Investment
Neighborhood fundamentals point to durable renter demand and steady occupancy, according to WDSuite s CRE market data for the surrounding area. The asset s 2009 vintage offers a competitive edge versus older local housing stock while allowing for targeted modernization over time.
Situated in Brooklyn s Urban Core, the property benefits from a renter-driven housing base: the surrounding neighborhood records a high share of renter-occupied units (69.2%), indicating depth in the tenant pool and supporting leasing stability. Neighborhood occupancy is in the low-90s with positive multi-year momentum, a backdrop that typically favors consistent renewal activity and reduces downtime for well-run assets, based on CRE market data from WDSuite.
Access to daily needs is a local strength. Grocery stores, pharmacies, restaurants, and parks are abundant by national comparison, with these amenities ranking in the top decile nationally, while cafes are less dense. For investors, the convenience mix supports resident retention even if lifestyle offerings are uneven across categories.
Home values in the neighborhood are elevated relative to national benchmarks, and the value-to-income ratio sits near the high end nationally. This high-cost ownership environment tends to reinforce reliance on multifamily housing, which can underpin occupancy and pricing power. At the same time, a rent-to-income ratio around the low-30% range signals some affordability pressure to manage at renewals and during lease-up.
Within a 3-mile radius, demographic data show modest population and household growth historically, with forecasts pointing to continued population gains and a larger household base. This trajectory suggests a gradually expanding renter pool and supports demand for well-maintained units. Neighborhood-level revenue performance, as proxied by NOI per unit, sits in the top quartile nationally, signaling competitive income potential at the area level rather than a guarantee for any specific property.
Safety indicators for the neighborhood currently trail national norms. Violent offense rates benchmark near the bottom of national percentiles, and property offenses also sit well below national averages. Relative to the New York Jersey City White Plains metro, the neighborhood s crime rank is on the less favorable side among 889 neighborhoods. Investors should underwrite with prudent operating practices, security measures, and insurer requirements in mind.
Recent trend data are directionally positive: both violent and property offense estimates show year-over-year declines, with the drop in violent offenses competitive versus national improvement rates. Continued monitoring is warranted, but the downward trend is a constructive signal for long-term risk management.
The area draws on a diversified employment base spanning insurance, airlines, and utilities, supporting renter demand through commute convenience and a broad white-collar tenant pool. Notable nearby employers include Prudential, JetBlue Airways, New York Life, AIG, and Con Edison Distribution Engineering.
- Prudential insurance (1.4 miles)
- JetBlue Airways airline (6.1 miles) HQ
- New York Life Insurance Company insurance (7.1 miles)
- AIG insurance (7.1 miles) HQ
- Con Edison Distribution Engineering utility engineering (7.1 miles)
Built in 2009, the 43-unit asset is materially newer than the neighborhood s prewar average vintage. That positioning can enhance competitiveness on finishes and building systems versus older stock, while still leaving room for targeted upgrades to refresh common areas and improve energy performance over the next hold period. Renter concentration at the neighborhood level is high and occupancy has trended upward, supporting an expectation of stable leasing for well-managed properties.
Within a 3-mile radius, population and household counts have grown and are projected to continue rising, suggesting a gradually expanding renter base. Elevated home values relative to incomes indicate a high-cost ownership market that tends to sustain multifamily demand, though a rent-to-income profile around the low-30% range argues for careful lease management and renewal strategies. According to commercial real estate analysis from WDSuite, neighborhood income performance (NOI per unit) screens in the top quartile nationally, reinforcing the area s income potential at the market level.
- 2009 construction offers competitive positioning versus older neighborhood stock with selective value-add upside
- High renter-occupied share and steady neighborhood occupancy support leasing stability
- 3-mile radius shows population and household growth, expanding the tenant base over time
- Elevated ownership costs bolster reliance on rentals, aiding retention and pricing power
- Risks: below-average safety benchmarks and affordability pressure (~low-30% rent-to-income) require disciplined operations and renewals