| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Good |
| Demographics | 60th | Fair |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2295 Milburn Ave, Baldwin, NY, 11510, US |
| Region / Metro | Baldwin |
| Year of Construction | 2001 |
| Units | 21 |
| Transaction Date | 2002-07-25 |
| Transaction Price | $3,129,000 |
| Buyer | MILBURN ESTATES RE-DEVELO CO OWNERS CORP |
| Seller | DEKA ASSOC INC |
2295 Milburn Ave Baldwin Multifamily Investment
Neighborhood occupancy sits in the mid-90s and tracks above the metro median, indicating stable renter demand, according to WDSuite’s CRE market data. With elevated home values locally, this submarket supports retention and pricing power for well-maintained, workforce-oriented units.
Baldwin’s inner‑suburban location offers strong day‑to‑day convenience for residents. Neighborhood amenity access is competitive among Nassau County–Suffolk County neighborhoods (ranked 24 of 608), with top‑quartile nationally density of grocery stores, pharmacies, parks, and restaurants. Café density is thinner, which can modestly temper lifestyle appeal but does not materially detract from core livability for most renters.
The property’s 2001 vintage is newer than the neighborhood’s predominantly pre‑war housing stock. For investors, that positioning can reduce near‑term capital exposure versus older comparables while still leaving room for targeted modernization to sharpen competitive standing in leasing and renewals.
Unit tenure data points to a moderate renter concentration—roughly one‑quarter of neighborhood housing units are renter‑occupied—supporting a defined but not oversupplied tenant base. Neighborhood rents benchmark in the upper tier nationally, and rent‑to‑income levels remain manageable, helping support occupancy stability and lease performance.
Demographics within a 3‑mile radius show recent population and household growth, with projections indicating additional expansion and rising incomes through the next five years. This trajectory suggests a larger tenant base and supports steady absorption for well‑located multifamily assets, based on CRE market data from WDSuite.
Home values are elevated relative to many U.S. neighborhoods, which typically sustains reliance on rental housing and can support pricing discipline for quality units. Investors should still account for resident affordability management in underwriting to promote retention.
Safety indicators compare favorably on violent offenses, with the neighborhood landing in the top quartile nationally for lower violent‑crime exposure. Property‑related offenses track better than national averages as well, though recent year‑over‑year readings show some uptick that is worth monitoring in operations and security planning.
Within the Nassau County–Suffolk County metro, overall crime metrics position the area above the metro average for safety. Investors should underwrite routine preventative measures and consider recent property‑offense trends while noting the stronger standing on violent‑crime measures.
Proximity to established corporate employers supports commuter convenience and a diversified renter base, with concentrations in healthcare, financial services, and air transportation reflected below.
- Henry Schein — healthcare distribution (12.53 miles) — HQ
- Prudential — financial services (13.02 miles)
- Jetblue Airways — air transportation (18.75 miles) — HQ
- Pfizer — pharmaceuticals (20.42 miles) — HQ
- Verizon Communications — telecommunications (20.50 miles)
2295 Milburn Ave is a 21‑unit, 2001‑vintage asset positioned against older neighborhood stock, offering relative competitiveness and potential for targeted value‑add. Neighborhood occupancy trends are above the metro median and supported by high household incomes, elevated ownership costs, and a moderate renter concentration that creates depth without oversupply. According to CRE market data from WDSuite, amenity access is strong and local rents sit in the upper national tier, reinforcing leasing fundamentals while keeping rent‑to‑income pressures manageable for many households.
Within a 3‑mile radius, recent and projected growth in population, households, and incomes points to a gradual expansion of the renter pool. The combination of commuter access to major employers and a high‑cost ownership market supports demand durability; underwriting should still account for routine capital planning on a two‑decade‑old building and for prudent loss‑to‑lease management given premium‑tier rents.
- 2001 vintage versus older neighborhood stock supports relative competitiveness with focused modernization upside
- Above‑median neighborhood occupancy and strong incomes underpin demand and retention
- Elevated ownership costs and strong amenity access reinforce multifamily pricing power
- 3‑mile growth in population and households expands the tenant base over time
- Risks: modest café density and a recent uptick in property‑offense activity warrant operational focus