| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 58th | Fair |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 78 Troutman St, Brooklyn, NY, 11206, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2001 |
| Units | 82 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
78 Troutman St, Brooklyn Multifamily Investment Thesis
Neighborhood-level occupancy is strong and renter demand is deep, according to WDSuite s CRE market data, supporting income stability for well-run assets near 78 Troutman St. These dynamics, measured for the surrounding neighborhood rather than the property, point to durable leasing even through cycles.
The property sits in an Urban Core pocket of Brooklyn rated "A" at the neighborhood level, ranking 63 out of 889 metro neighborhoods. That places it competitive among New York-Jersey City-White Plains neighborhoods and above the metro median. Amenity access is a clear strength: neighborhood amenity measures are in the top national percentiles (restaurants and grocery stores are both at or near the 100th percentile), which tends to bolster renter appeal and support retention.
For multifamily fundamentals, neighborhood occupancy is 96.6% (top quintile nationally), and renter concentration is high with a renter-occupied share of 89.5% at the neighborhood level. For investors, that combination points to a large and resilient tenant base and generally supports leasing stability and pricing power for appropriately positioned units.
Construction year context matters. The neighborhood s average vintage is 1964, while this asset was built in 2002. Being newer than the area s older stock can provide competitive positioning versus pre-1980s buildings, though investors should still anticipate ongoing systems upkeep and select modernization to meet today s renter expectations.
Demographic statistics aggregated within a 3-mile radius indicate population growth over the last five years with further increases projected, alongside an expanding household count and a modest decrease in average household size. This pattern generally supports renter pool expansion and sustained absorption of smaller-format units, reinforcing occupancy stability. At the same time, elevated home values (neighborhood metrics are in the mid-90s national percentile range) signal a high-cost ownership market that tends to sustain reliance on rental housing rather than encouraging rapid moves to ownership.
School ratings in the immediate neighborhood average on the lower side compared with national benchmarks (around the low-20s national percentile), which can be a consideration for family-oriented renters but is less sensitive for studios and one-bedrooms. Overall neighborhood income measures sit modestly above national medians, and neighborhood-level NOI per unit performance ranks at the top of the national range, based on CRE market data from WDSuite, underscoring the area s income-producing potential for well-managed assets.
Safety indicators at the neighborhood level are below national medians, with both violent and property offense rates benchmarking in lower national percentiles compared with neighborhoods nationwide. Recent year-over-year trends show double-digit declines in estimated rates, suggesting gradual improvement, but conditions remain elevated versus national norms. Investors typically underwrite accordingly (enhanced security features, lighting, and tenant engagement) and focus on operational practices that support retention.
The employment base nearby is anchored by large corporate offices across aviation, utilities, insurance, and technology, supporting commuter convenience and a broad renter pipeline. The list below highlights key employers within approximately four miles that can underpin steady leasing.
- JetBlue Airways aviation HQ operations (3.6 miles) HQ
- Yahoo technology/media offices (3.9 miles)
- Con Edison Distribution Engineering utilities engineering offices (3.9 miles)
- Consolidated Edison utilities corporate offices (3.9 miles) HQ
- AIG insurance corporate offices (4.0 miles) HQ
78 Troutman St offers exposure to a Brooklyn Urban Core neighborhood with strong renter orientation and high amenity access. Neighborhood-level occupancy sits in the upper national percentiles and renter-occupied share is elevated, supporting depth of demand and potential lease stability for appropriately priced units. Built in 2002, the asset is newer than much of the area s housing stock, which can enhance competitive positioning while still leaving room for targeted upgrades. According to CRE market data from WDSuite, neighborhood income and NOI benchmarks compare favorably at the metro and national level, reinforcing the case for durable income generation.
Within a 3-mile radius, recent and projected growth in population and households indicates a larger tenant base over time, with smaller average household sizes favoring efficient floor plans. Elevated home values in the neighborhood-level data point to a high-cost ownership market, which tends to support multifamily demand and lease retention. Key risks to underwrite include neighborhood safety metrics that remain elevated compared with national norms and lower average school ratings, particularly for family-targeted unit mixes.
- High neighborhood occupancy and renter concentration support depth of demand and leasing stability
- 2002 vintage offers relative competitive positioning versus older local stock with selective value-add potential
- 3-mile demographics show growth in population and households, expanding the renter pool over time
- Neighborhood-level income and NOI measures compare favorably, per WDSuite, supporting long-run income durability
- Risks: below-median safety metrics and lower school ratings require thoughtful operations and positioning