| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 46th | Poor |
| Amenities | 83rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 957 Utica Ave, Brooklyn, NY, 11203, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2007 |
| Units | 23 |
| Transaction Date | 1998-01-30 |
| Transaction Price | $250,000 |
| Buyer | 957 UTICA LLC |
| Seller | FAMSON REALTY LLC |
957 Utica Ave, Brooklyn — Multifamily Investment in Kings County
Renter-occupied housing is prevalent in the surrounding neighborhood, supporting a deeper tenant base and steadier leasing, according to WDSuite’s CRE market data.
Rated B+ and classified as Urban Core, the neighborhood is competitive among New York-Jersey City-White Plains neighborhoods (ranked 321 of 889), signaling solid fundamentals for small to mid-size multifamily assets. Amenity access is a clear strength: cafes, groceries, pharmacies, and restaurants index in the top tiers nationally, which helps with day-to-day convenience and resident retention.
Renter-occupied share is high locally (above the national norm), indicating a larger pool of multifamily households and demand resilience for smaller-unit product. Neighborhood occupancy trends sit near the national mid-range, so underwriting should prioritize leasing efficiency and renewal strategies rather than assuming outsized pricing power.
Within a 3-mile radius, demographics point to modest population growth and a larger increase in households, with household sizes trending smaller. That mix typically supports renter pool expansion and consistent demand for studios and one-bedrooms, aligning with investor strategies focused on stabilized occupancy and steady cash flows.
Ownership remains a high-cost path relative to incomes in this area, while asking rents track above national medians. In investor terms, elevated home values support renter reliance on multifamily housing, but rent-to-income levels call for disciplined lease management to sustain retention.
Safety indicators sit below national medians for comparable urban neighborhoods, reflecting higher-than-average incident rates. However, recent year-over-year readings show improvement in both violent and property categories, suggesting a directional decline in reported offenses based on WDSuite’s CRE market data.
Compared with other neighborhoods across the New York-Jersey City-White Plains metro (889 total), the area performs below the metro median on safety, so investors typically account for enhanced lighting, access controls, and community standards when budgeting for operations and capital planning. Monitoring ongoing trends is prudent to align security measures with evolving conditions.
Proximity to major employers in insurance, beverages, and financial services underpins workforce housing demand and commute convenience for residents. The nearest anchors include Prudential, Dr Pepper Snapple Group, AIG, S&P Global, and Guardian Life.
- Prudential — insurance (4.3 miles)
- Dr Pepper Snapple Group — beverages (5.1 miles)
- Aig — insurance (5.6 miles) — HQ
- S&P Global — financial information (5.6 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (5.6 miles) — HQ
Built in 2007, the asset is newer than much of the local housing stock, offering competitive positioning versus prewar inventory while still warranting routine system updates over a long hold. Demand drivers are supported by a renter-heavy neighborhood and strong daily amenities, with ownership costs elevated relative to incomes—factors that tend to reinforce reliance on rental housing. According to CRE market data from WDSuite, neighborhood rents benchmark above national medians while occupancy trends sit near the middle of the pack, pointing to steady—rather than outsized—pricing power.
Within a 3-mile radius, households have increased and are projected to expand further as average household size trends downward, a setup that typically enlarges the renter pool and supports occupancy stability for smaller units. Key considerations include thoughtful affordability management and ongoing attention to safety and resident experience.
- Newer 2007 vintage versus surrounding stock supports competitive positioning and reduced near-term obsolescence risk.
- Renter-heavy neighborhood and strong amenity density underpin a deeper tenant base and retention.
- Household growth within 3 miles and smaller household sizes support ongoing demand for smaller units and occupancy stability.
- Elevated ownership costs relative to incomes sustain rental reliance, supporting consistent leasing.
- Risks: affordability pressure and below-median safety metrics require prudent leasing strategies, security measures, and resident engagement.