| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Good |
| Demographics | 58th | Fair |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 280 Franklin Ave, Franklin Square, NY, 11010, US |
| Region / Metro | Franklin Square |
| Year of Construction | 1986 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
280 Franklin Ave, Franklin Square Multifamily Investment
Built in 1986, this asset is newer than much of the local housing stock and benefits from above-median neighborhood occupancy, according to WDSuite’s CRE market data. Elevated ownership costs in Nassau County support steady renter demand in this pocket of Franklin Square.
Franklin Square’s neighborhood fundamentals skew favorable for long-hold multifamily. The area posts an A- neighborhood rating and ranks 133rd among 608 Nassau–Suffolk metro neighborhoods, placing it in the top quartile locally. Occupancy in the neighborhood is above the metro median, which supports income stability and lowers lease-up risk relative to weaker submarkets.
Amenity access is a clear strength. Restaurant and grocery density rank near the top of metro peers and test in high national percentiles, while pharmacies are also plentiful — factors that help retention by meeting daily-needs demand close to home. One tradeoff: limited parks and formal childcare options in the immediate neighborhood may reduce family-focused appeal, a consideration for unit mix strategy.
Tenure patterns point to a modest but investable renter base. Within the neighborhood, roughly one-quarter of housing units are renter-occupied, indicating depth without oversaturation. Within a 3-mile radius, WDSuite data show strong household incomes and a moderate rent-to-income profile, which can aid renewals and pricing discipline. High home values in this high-cost ownership market tend to reinforce reliance on rental housing, supporting demand for well-managed multifamily.
Demographic signals within a 3-mile radius indicate steady population and household growth with a gradual shift toward smaller household sizes. For investors, that implies a larger tenant base over time and potential demand for efficient floor plans, while still serving move-up renters who value the neighborhood’s amenity access and commuting convenience.
Safety compares favorably both locally and nationally. The neighborhood’s crime rank sits near the top of the Nassau–Suffolk metro (32nd of 608), indicating stronger safety relative to most peers. Nationally, it tests in the upper percentiles for lower violent and property offense rates, translating into a supportive backdrop for leasing and resident retention.
Recent trends warrant monitoring: WDSuite data indicate a year-over-year uptick in property incidents even as violent offense measures remain very low (upper-national-percentile performance). For underwriting, this suggests maintaining prudent security and asset management protocols while recognizing the area’s overall competitive safety positioning among metro neighborhoods.
Proximity to regional employers supports commuter convenience and broad renter demand, with concentrations in insurance, air travel, healthcare supplies, defense & aerospace, and pharmaceuticals.
- Prudential — insurance (9.2 miles)
- Jetblue Airways — airline (13.9 miles) — HQ
- Henry Schein — medical & dental supplies (14.6 miles) — HQ
- Lockheed Martin — defense & aerospace offices (15.6 miles)
- Pfizer — pharmaceuticals (15.6 miles) — HQ
280 Franklin Ave offers a balanced multifamily thesis anchored by location fundamentals and tenant affordability. The neighborhood ranks in the top quartile among 608 Nassau–Suffolk neighborhoods and posts above-median occupancy, supporting income durability. Built in 1986, the property is newer than the area’s older average housing stock, positioning it competitively versus legacy assets while still leaving room for selective modernization to drive rents and retention.
High home values in Franklin Square and surrounding Nassau County help sustain rental demand, while 3-mile demographic trends point to incremental population and household growth with smaller household sizes — a setup that can expand the renter pool and support occupancy stability. According to CRE market data from WDSuite, amenity density is a local strength, further reinforcing livability and leasing momentum.
- Above-median neighborhood occupancy supports cash flow stability relative to weaker metro submarkets.
- 1986 vintage is newer than nearby housing stock, enabling competitive positioning with targeted value-add.
- High-cost ownership market reinforces renter reliance on multifamily, aiding pricing power and renewals.
- Strong amenity access (grocery, dining, pharmacy) supports tenant retention and leasing velocity.
- Risk: monitor recent uptick in property incidents and limited parks/childcare; budget for security and resident-experience improvements.