| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 28th | Poor |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 598 Howard Ave, Brooklyn, NY, 11212, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1990 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
598 Howard Ave Brooklyn 24-Unit Multifamily
Renter demand is supported by a high neighborhood share of renter-occupied units and steady occupancy, according to WDSuite’s CRE market data, positioning this 1990-vintage asset for durable leasing while offering potential modernization upside.
Situated in Brooklyn’s Urban Core, the property benefits from a renter-leaning neighborhood profile and everyday convenience. Neighborhood occupancy is stable and has trended up over the past five years, and 77% of housing units are renter-occupied. That renter concentration suggests a deep tenant base and supports ongoing demand for multifamily product.
Amenity access is a clear strength. Cafes, groceries, restaurants, pharmacies, and parks all benchmark among the stronger concentrations nationally, providing walkable daily needs that can bolster retention and leasing velocity. Average school ratings in the area trail national norms, which investors should factor into unit mix and marketing for families.
The asset’s 1990 construction is newer than the neighborhood’s older housing stock (average vintage skews pre-war). This relative youth can enhance competitiveness versus nearby properties, while still warranting targeted capital planning for systems, interiors, and common areas to meet today’s renter expectations.
Within a 3-mile radius, demographics point to a growing renter pool. Recent years show population and household growth, with projections indicating further increases and smaller average household sizes—dynamics that typically expand demand for apartments and support occupancy stability. Median home values in the neighborhood are elevated for the region, and value-to-income ratios rank high nationally, reinforcing reliance on rental housing. At the same time, rent-to-income levels indicate affordability pressure for some renter cohorts, a consideration for lease management and pricing strategy.
Safety indicators are mixed relative to benchmarks. At the metro level, the neighborhood’s overall crime rank sits around the middle of the pack among 889 New York–Jersey City–White Plains neighborhoods, indicating neither a clear advantage nor disadvantage locally. Compared with neighborhoods nationwide, safety metrics trend below national norms; however, recent year-over-year data show declines in both violent and property offense rates, a constructive directional signal to monitor rather than a definitive shift.
For underwriting, investors often account for these trends through on-site security practices, lighting, access controls, and resident engagement, while tracking whether the recent declines persist over multiple periods.
Proximity to major corporate offices broadens the commuter tenant base and can support leasing stability. Notable nearby employers include Prudential, AIG, Dr Pepper Snapple Group, S&P Global, and Guardian Life.
- Prudential — financial services (3.6 miles)
- Aig — insurance (5.2 miles) — HQ
- Dr Pepper Snapple Group — beverages (5.2 miles)
- S&P Global — financial information (5.3 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (5.3 miles) — HQ
598 Howard Ave offers a renter-driven location with strong daily amenities and stable neighborhood occupancy. The 1990 vintage is newer than much of the surrounding stock, creating a relative quality edge and potential to capture rent through targeted upgrades while maintaining cost discipline. Elevated local home values and high value-to-income ratios point to a high-cost ownership market that tends to sustain multifamily demand and lease retention. Based on commercial real estate analysis from WDSuite, neighborhood occupancy remains steady as the renter base deepens.
Within a 3-mile radius, population and households have been increasing, with projections indicating further household growth and smaller household sizes—factors that typically expand the renter pool and support occupancy stability. Counterbalancing risks include below-average school ratings, affordability pressure indicated by rent-to-income levels, and safety metrics that lag national norms even as recent trends improve. These considerations inform prudent underwriting, resident experience investments, and thoughtful unit-positioning strategies.
- Renter-driven location with stable neighborhood occupancy and strong daily amenities
- 1990 vintage offers competitive positioning versus older nearby stock with value-add potential
- High-cost ownership market supports sustained multifamily demand and lease retention
- 3-mile radius shows population and household growth, expanding the renter pool
- Risks: affordability pressure (rent-to-income), below-average school ratings, and safety metrics below national norms