| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 43rd | Poor |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 358 Vernon Ave, Brooklyn, NY, 11206, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2000 |
| Units | 55 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
358 Vernon Ave, Brooklyn Multifamily Investment Opportunity
Neighborhood fundamentals indicate deep renter demand and above-median occupancy for the area, according to WDSuite’s CRE market data. These metrics reflect neighborhood conditions rather than the specific property and suggest steady leasing potential for professionally managed units.
Located in Brooklyn’s Urban Core, the area around 358 Vernon Ave benefits from a dense amenity base that ranks competitively across the metro and scores in the top tier nationally for grocery, parks, cafes, and pharmacies. This concentration supports resident convenience and helps sustain renter interest relative to many New York-Jersey City-White Plains submarkets.
Neighborhood occupancy is above the metro median among 889 neighborhoods, with stability over the past five years, per WDSuite’s CRE market data. The property’s 2001 vintage is newer than the neighborhood’s older housing stock profile (average construction year 1975), which can provide a competitive edge versus pre-1980 assets while still warranting selective modernization or system upgrades in capital planning.
Tenure patterns show a high share of renter-occupied housing at the neighborhood level, indicating a sizable tenant base and depth for smaller-unit product. Within a 3-mile radius, demographics point to population growth and a faster increase in households, paired with smaller average household sizes—factors that typically expand the renter pool and support occupancy stability.
Home values in the neighborhood are elevated relative to national benchmarks, and the value-to-income ratio is high. In practice, this high-cost ownership market tends to reinforce reliance on rental housing, which can aid retention and pricing power for well-located multifamily assets. At the same time, rent-to-income levels suggest some affordability pressure, calling for disciplined lease management and amenity-driven differentiation. Average school ratings in the area trail national norms, which investors should weigh alongside the strong amenity access and employment proximity.
Safety indicators for the neighborhood are mixed in a national context. Relative to 889 metro neighborhoods, the area sits in a competitive-but-not-top tier, and national percentiles indicate higher crime levels than many U.S. neighborhoods. However, recent trend data from WDSuite shows year-over-year declines in both violent and property offenses, suggesting conditions have been improving. These are neighborhood-level signals and may vary by block and over time.
Nearby corporate offices across insurance, finance, media, and utilities provide a sizeable employment base that supports renter demand and commute convenience for workforce and professional tenants. The following employers are within roughly four miles of the property.
- AIG — insurance (3.7 miles) — HQ
- Yahoo — media & technology (3.8 miles)
- JetBlue Airways — aviation corporate offices (3.8 miles) — HQ
- Con Edison Distribution Engineering — utilities (3.8 miles)
- Consolidated Edison — utilities (3.8 miles) — HQ
This 55-unit asset with 2001 construction benefits from a renter-driven neighborhood, a strong amenity ecosystem, and above-metro-median neighborhood occupancy. Elevated ownership costs in the area tend to sustain multifamily demand, while smaller household sizes within a 3-mile radius signal continued renter pool expansion and support for lease-up and retention. According to CRE market data from WDSuite, the area’s occupancy and amenity access compare favorably to many metro peers.
Key considerations include affordability pressure tied to rent-to-income ratios, below-average school ratings, and safety metrics that lag national percentiles despite improving trends. Investors may find value in targeted renovations and efficiency upgrades typical for early-2000s assets to enhance competitiveness versus older local stock and to manage retention in a high-cost ownership environment.
- Renter-heavy neighborhood supports demand depth and lease stability
- 2001 vintage provides competitive positioning versus older local stock with selective value-add potential
- Dense amenities and major employers nearby bolster tenant retention and absorption
- High ownership costs reinforce reliance on rental housing and pricing power
- Risks: affordability pressure, below-average school ratings, and safety metrics below national norms despite recent improvement