| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 52nd | Fair |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 415 Evergreen Ave, Brooklyn, NY, 11221, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1985 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
415 Evergreen Ave Brooklyn Multifamily Investment Opportunity
Neighborhood fundamentals point to durable renter demand and steady occupancy, according to WDSuite s CRE market data. This perspective reflects neighborhood metrics, not the specific property, and stems from balanced commercial real estate analysis rather than hype.
Situated in Brooklyn s Urban Core, the neighborhood ranks 97 out of 889 metro neighborhoods, making it competitive among New York Jersey City White Plains submarkets. Amenity access is a clear strength: grocery, dining, parks, pharmacies, and cafes all register in the top national percentiles, supporting daily convenience and walkable lifestyle appeal that helps leasing velocity and retention.
From an income side, neighborhood NOI per unit benchmarks in a high national percentile, signaling strong revenue potential at the submarket level (per WDSuite s CRE market data). Occupancy for the neighborhood is above the national median and has trended higher over the past five years, indicating stable renter demand rather than transient spikes. The share of renter-occupied housing is elevated, pointing to a deep tenant base and a broader pool of prospective residents for multifamily product.
Ownership costs are high in this part of Kings County, with home values well above national norms. For investors, a high-cost ownership market tends to sustain reliance on rental housing, which can support pricing power and reduce move-out pressure into ownership. School ratings trail national averages, so family-demand segments may be more selective; however, the breadth of amenities and employment access can offset this for many renter cohorts.
Demographic statistics aggregated within a 3-mile radius show recent population growth alongside a faster increase in households and higher median incomes, with forecasts calling for further household expansion and smaller average household sizes. These trends typically translate into a larger renter pool and support for occupancy stability and leasing performance.
Safety conditions are mixed relative to national benchmarks. The neighborhood sits below the national average for safety based on violent and property offense percentiles, yet recent year-over-year data from WDSuite show double-digit declines in both categories. For investors, the direction of change matters: momentum has been improving, but underwriting should still reflect that current levels remain elevated versus safer peer areas.
Proximity to major corporate employers underpins a broad workforce renter base and commute convenience. The nearby roster includes Prudential, JetBlue Airways, AIG, Yahoo, and Con Edison Distribution Engineering.
- Prudential corporate offices (4.0 miles)
- Jetblue Airways airline HQ & corporate (4.2 miles) HQ
- Aig insurance HQ (4.6 miles) HQ
- Yahoo media & technology offices (4.6 miles)
- Con Edison Distribution Engineering utilities engineering offices (4.6 miles)
Built in 1985, the 24-unit property is newer than the area s average vintage, which skews mid-century, offering relative competitiveness versus older stock while still warranting selective modernization to enhance durability and resident experience. At the neighborhood level, occupancy trends are above the national median and rising, and renter-occupied share is high, indicating a deep tenant base to support leasing and retention. High ownership costs in Kings County further reinforce reliance on multifamily rentals.
Within a 3-mile radius, recent population and household growth, rising incomes, and forecasts for continued household expansion with smaller household sizes suggest ongoing renter pool expansion. According to CRE market data from WDSuite, neighborhood NOI per unit benchmarks strongly versus national comps, while the rent-to-income landscape indicates some affordability pressure that should be managed through prudent lease management and renewal strategies. Average unit sizes near 688 square feet align with demand for efficient, urban layouts.
- Occupancy above national median with upward trend supports leasing stability
- High renter-occupied share indicates depth of tenant base
- 1985 vintage offers competitive edge versus older stock with value-add potential
- High-cost ownership market reinforces rental demand and pricing power
- Risk: affordability pressure and below-average school ratings warrant conservative underwriting