| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Good |
| Demographics | 30th | Poor |
| Amenities | 80th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 510 Wyona St, Brooklyn, NY, 11207, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1999 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
510 Wyona St, Brooklyn NY Multifamily Investment Outlook
Renter concentration is high in this Brooklyn neighborhood, supporting steady tenant demand even as pricing must account for affordability pressure, according to CRE market data from WDSuite.
This Urban Core location offers everyday convenience that appeals to renters: grocery access ranks competitive among 889 New York–Jersey City–White Plains neighborhoods and sits in the top tier nationally, with restaurants and cafes also in the top quartile nationwide. Childcare density is similarly strong, which can aid retention among households seeking nearby services.
Neighborhood occupancy is mid-50s percentile nationally and has trended higher in recent years, indicating generally solid leasing conditions. Renter-occupied housing is elevated (top national percentile), pointing to a deep tenant base and ongoing demand for multifamily units. The property’s 1999 vintage is newer than much of the surrounding housing stock (local average skewing to earlier decades), offering relative competitiveness versus older buildings while still warranting routine system updates over a long hold.
Within a 3-mile radius, demographics show population growth alongside faster household formation and a gradual reduction in average household size, expanding the renter pool and supporting occupancy stability. Elevated home values in the neighborhood, coupled with a high value-to-income environment, reinforce renter reliance on multifamily housing, though rent-to-income ratios suggest careful lease management to mitigate retention risk. These dynamics align with investor expectations surfaced through commercial real estate analysis from WDSuite.
Considerations: park access is limited locally, and average school ratings trail national norms, factors that can influence demand from family-focused renters. Even so, the amenity mix (food, services, pharmacies) is a practical draw for workforce households seeking commute convenience and daily needs nearby.
Safety indicators for the neighborhood trail national norms, with current levels below the U.S. average. However, recent trend readings show year-over-year improvement in both violent and property offense estimates, suggesting conditions have been easing rather than deteriorating. Investors should underwrite with conservative assumptions and monitor ongoing trend data rather than block-level claims.
Relative to the New York–Jersey City–White Plains metro, the neighborhood’s crime rank sits on the less favorable side of the spectrum (ranked 342 among 889 neighborhoods), while national percentiles place it below average for safety. The improving trajectory may help leasing stability over time, but security measures and resident engagement can remain important for retention.
Nearby corporate offices provide a diversified employment base that supports renter demand and lease retention, particularly among commuters to financial services and airlines. Key employers include Prudential, JetBlue Airways, AIG, S&P Global, and Guardian Life.
- Prudential — financial services (2.1 miles)
- Jetblue Airways — airlines corporate offices (6.4 miles) — HQ
- Aig — insurance (6.6 miles) — HQ
- S&P Global — ratings & market intelligence (6.7 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (6.7 miles) — HQ
510 Wyona St is a 20-unit asset built in 1999—newer than much of the neighborhood’s older housing stock—positioning it competitively for tenants seeking functional layouts and relatively modern systems. Strong amenity access (groceries, restaurants, cafes) and a high share of renter-occupied housing indicate depth of demand, while elevated ownership costs in this part of Kings County tend to sustain reliance on rental housing. At the same time, rent-to-income levels point to affordability pressure, so prudent lease management and measured rent growth assumptions are warranted.
Within a 3-mile radius, population growth and a faster uptick in households point to a larger tenant base over the next few years, supporting occupancy stability. Safety metrics remain below national norms but have improved year over year, and, according to CRE market data from WDSuite, neighborhood occupancy has been steady around the national midpoint—favorable for maintaining leased status when paired with targeted value-add or light modernization.
- Newer 1999 vintage versus older local stock supports competitive positioning with modest modernization needs.
- High renter-occupied share and strong daily-needs amenities underpin durable multifamily demand.
- 3-mile demographics signal renter pool expansion, aiding occupancy stability over the mid term.
- Elevated ownership costs reinforce reliance on rentals, supporting lease retention and pricing power.
- Risks: below-average safety, limited park access, and renter affordability pressure require conservative underwriting and active management.