| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 69th | Good |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 461 Fulton St, Farmingdale, NY, 11735, US |
| Region / Metro | Farmingdale |
| Year of Construction | 1999 |
| Units | 62 |
| Transaction Date | 2007-06-15 |
| Transaction Price | $805,600 |
| Buyer | ROBLES ANGEL |
| Seller | MONTERO ANDREW |
461 Fulton St, Farmingdale Multifamily in High-Income Inner Suburb
Neighborhood occupancy runs in the mid-90s, signaling steady leasing fundamentals in an A‑rated inner suburb, according to CRE market data from WDSuite.
The property sits in an A-rated, Inner Suburb location that ranks 30 out of 608 metro neighborhoods—top quartile and competitive within the Nassau County–Suffolk County metro. Local occupancy is 95.7% with improvement over the past five years, supporting stable rent rolls at the neighborhood level rather than the property specifically, based on WDSuite’s CRE market data.
Daily convenience is a strength: grocery, cafe, childcare, pharmacy, and restaurant density tracks in the upper national percentiles, which helps leasing velocity and retention for workforce and professional tenants. Park access is limited nearby, so outdoor space amenities on-site can matter more for resident appeal.
Construction patterns skew older in the area (average 1962), so a 1999 vintage positions this asset as relatively newer stock versus many comps. That can be a competitive edge on curb appeal and systems, though investors should still plan for typical late‑90s building updates over the hold.
Within a 3-mile radius, demographics show high household incomes and a renter pool supported by elevated ownership costs. Household counts have risen even as population has been roughly flat, indicating smaller household sizes and a steady base of potential renters. School ratings trend below the national median, which may influence family-driven demand but is often offset by commute convenience and amenity access in similar inner‑suburban submarkets.
Comparable neighborhood safety data are not available for this location in the current release. Investors typically benchmark trends against the Nassau County–Suffolk County metro and peer inner‑suburban neighborhoods to assess resident retention, leasing risk, and insurance planning. Reviewing multi-year patterns and owner‑reported incidents alongside municipal sources can provide additional context.
Nearby employers span healthcare distribution, financial services, and communications technology, supporting a diversified renter base with commute-friendly options. The following anchors are representative of the employment draw for this inner‑suburban location.
- Henry Schein — healthcare distribution (3.2 miles) — HQ
- Fernando Monasterio - Citizens Bank, Home Mortgages — financial services (3.8 miles)
- Motorola Solutions — communications technology (21.0 miles)
- Prudential — financial services (21.5 miles)
- W.R. Berkley — insurance (21.9 miles) — HQ
Built in 1999 with 62 units, the asset competes favorably against an older housing base (metro neighborhood average circa 1962). Neighborhood occupancy near 95%+ and high household incomes point to durable leasing conditions and pricing resilience relative to older Class B/C stock nearby. Elevated home values in the area tend to sustain reliance on multifamily rentals, reinforcing depth of demand.
Within a 3‑mile radius, households have increased as sizes edged smaller, and forward views indicate additional household growth—supportive for a larger tenant base and occupancy stability. According to CRE market data from WDSuite, the submarket’s amenity density is strong, which can bolster retention even if school ratings run below national medians.
- 1999 vintage offers relative competitiveness versus older area stock, with potential to capture tenants seeking newer finishes and systems.
- High neighborhood occupancy and strong incomes support rent collections and renewal rates.
- Dense nearby amenities (grocery, cafes, services) aid leasing velocity and day‑to‑day convenience.
- Elevated ownership costs help sustain renter demand and reduce move‑to‑own competition.
- Risks: limited park access, below‑median school ratings, and typical late‑90s CapEx needs during hold.