| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Good |
| Demographics | 70th | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 380 Broadway, Bethpage, NY, 11714, US |
| Region / Metro | Bethpage |
| Year of Construction | 1996 |
| Units | 52 |
| Transaction Date | 1996-10-03 |
| Transaction Price | $5,488,000 |
| Buyer | CENTRAL PARK ESTATES REDE |
| Seller | BROADWAY DEVELOPMENT CORP |
380 Broadway, Bethpage NY Multifamily Investment
In an owner-heavy Nassau County suburb with tight neighborhood occupancy, the asset’s renter demand should be supported by limited competing inventory and strong local incomes, according to WDSuite’s commercial real estate analysis.
Bethpage is an inner-suburb location within the Nassau–Suffolk metro where neighborhood fundamentals test well for renters and families. The neighborhood places 98th among 608 metro neighborhoods (top quartile) on WDSuite’s composite rating, with schools averaging 4.5/5 (94th percentile nationally) — a signal of stability that often aligns with steady leasing performance. Note: school ratings and scores reflect the neighborhood, not the property.
Neighborhood occupancy is high at the area level (88th percentile nationally), and this submarket skews heavily owner-occupied, with a relatively small share of renter-occupied housing units. For investors, that mix typically translates to a thinner, but more stable, tenant pool and fewer direct multifamily competitors. These occupancy metrics describe the neighborhood, not the subject property.
Daily-needs access is a relative strength: pharmacies and childcare facilities score in the mid-to-upper 90th percentiles nationally, and grocery access is also strong. Dining density is competitive for the metro, while cafes and dedicated park acreage are limited within the immediate neighborhood, a consideration for lifestyle-oriented renters.
Home values in the neighborhood are elevated versus national norms (92nd percentile), and the value-to-income ratio sits in the 93rd percentile. In high-cost ownership areas like this, renters often remain in multifamily longer, supporting retention and pricing power, while the neighborhood rent-to-income levels suggest manageable affordability pressure relative to similar coastal suburbs, based on CRE market data from WDSuite.
Within a 3-mile radius, demographics indicate a large, affluent population base with recent gains in household counts and further household growth projected over the next five years. That expansion supports a broader tenant base and can help sustain occupancy and absorption at stabilized assets.
Neighborhood-level crime benchmarks are not available in WDSuite for this location, so comparative safety rankings versus other Nassau–Suffolk neighborhoods cannot be stated here. Investors often contextualize on-the-ground conditions with municipal reports and historical trend data at the town and county levels.
Given the absence of a metro rank or national percentile, treat safety as a diligence item alongside leasing history and resident retention; use consistent comparisons at the neighborhood or police-precinct level rather than block-specific claims.
Nearby employers provide a diversified white-collar employment base that supports commuter convenience and renter demand, including mortgage services, medical/dental supplies, financial services, insurance, and logistics.
- Fernando Monasterio - Citizens Bank, Home Mortgages — mortgage services (3.3 miles)
- Henry Schein — medical/dental supplies (3.6 miles) — HQ
- Prudential — financial services (20.3 miles)
- W.R. Berkley — insurance (20.4 miles) — HQ
- XPO Logistics — logistics (21.0 miles) — HQ
Built in 1996, the 52-unit property is materially newer than the neighborhood’s mid-century housing stock, offering relative competitiveness versus older assets while leaving room for targeted modernization of systems and finishes over a long hold. At the neighborhood level, tight occupancy and an owner-dominant housing mix point to constrained multifamily supply, which can support leasing stability and measured pricing power through cycles, according to CRE market data from WDSuite.
Within a 3-mile radius, household counts have trended upward and are projected to grow further, alongside high incomes that reinforce rent collections and renewal potential. Elevated local home values also indicate a high-cost ownership market, which typically sustains multifamily demand as households favor rental optionality near employment and top-rated schools.
- 1996 vintage offers competitive positioning versus older neighborhood stock with potential value-add via selective upgrades.
- Tight neighborhood occupancy and limited renter-occupied inventory support leasing stability at comparable assets.
- High-cost ownership environment reinforces renter reliance on multifamily, aiding retention and pricing discipline.
- 3-mile household growth and strong incomes expand the tenant base and support durable demand.
- Risks: smaller renter pool in an owner-heavy area, limited nearby parks/cafes, and the need to budget for mid-life system updates.