| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Fair |
| Demographics | 38th | Poor |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 295 W Merrick Rd, Freeport, NY, 11520, US |
| Region / Metro | Freeport |
| Year of Construction | 1976 |
| Units | 58 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
295 W Merrick Rd, Freeport NY Multifamily Investment
Neighborhood occupancy is stable and renter demand is supported by an Urban Core location with strong amenities, according to WDSuite’s CRE market data. For investors, this points to durable leasing fundamentals in a Nassau County context.
Competitive among Nassau County-Suffolk County, NY neighborhoods (ranked 121 of 608), this Urban Core area offers depth of services and everyday convenience that supports renter retention. Amenity access sits in the top quartile nationally, with restaurants, cafes, groceries, parks, and pharmacies all benchmarking strong versus U.S. peers.
Food-and-beverage density is a local strength — cafes rank in the top decile among 608 metro neighborhoods and restaurants are similarly competitive — while parks also land in the top decile. These amenity patterns typically translate to lifestyle appeal and after-work convenience valued by renters.
Neighborhood occupancy is above many U.S. areas and consistent with mature Long Island submarkets, while the share of renter-occupied housing is roughly one-third — indicating a meaningful, but not dominant, renter base that can support multifamily demand. Within a 3-mile radius, population and household counts have grown in recent years and are projected to continue rising, pointing to a larger tenant base over time. Median household incomes in the 3-mile area are high and rising, which can underpin rent collections and renewal probability.
Home values in the neighborhood are elevated relative to national norms, which in high-cost ownership markets often sustains reliance on rental housing and supports lease retention. At the same time, average school ratings trend below national medians and merit underwriting caution. Overall, the local mix of income strength, amenity access, and steady neighborhood occupancy provides a balanced backdrop for multifamily property research.
Safety signals are mixed and should be evaluated with care. Within the Nassau County-Suffolk County, NY metro, the neighborhood’s crime rank is at the higher-incident end (rank 1 out of 608), indicating it reports more incidents relative to metro peers. By contrast, national percentiles place the neighborhood in a favorable tier for both violent and property offenses — top quartile nationally — suggesting comparatively safer conditions versus many U.S. neighborhoods.
Recent trend data is a positive: estimated violent and property offense rates have declined sharply year over year, indicating improving conditions. Investors should pair these directional improvements with on-the-ground diligence and property-level security and lighting plans appropriate for an Urban Core setting.
Proximity to corporate employers supports commuter convenience and a broad renter pool, with access to financial services, healthcare products, insurance, airlines, and pharmaceuticals represented below.
- Fernando Monasterio - Citizens Bank, Home Mortgages — financial services (12.0 miles)
- Henry Schein — healthcare products (12.2 miles) — HQ
- Prudential — insurance (13.6 miles)
- Jetblue Airways — airline (19.4 miles) — HQ
- Pfizer — pharmaceuticals (21.1 miles) — HQ
Built in 1976, this 58-unit asset offers a mid-scale footprint with potential value-add and systems modernization opportunities relative to the neighborhood’s older housing stock. Neighborhood occupancy trends are steady, and elevated home values locally help sustain rental demand and lease retention. Within a 3-mile radius, population and households are expanding, incomes are rising, and rent levels remain manageable relative to income — dynamics that can support occupancy stability and renewal rates, according to CRE market data from WDSuite.
Strengths include amenity-rich positioning and proximity to diversified employment nodes, while underwriting should account for below-average school ratings, mixed safety signals at the metro-comparison level, and typical capital needs for a 1970s vintage.
- 1976 vintage with value-add and building systems modernization potential
- Neighborhood occupancy and high-cost ownership market support rental demand and renewals
- 3-mile radius shows population and household growth with rising incomes, supporting a deeper renter base
- Amenity-rich Urban Core location near diversified employers aids leasing and retention
- Risks: below-average school ratings, mixed metro-relative safety signals, and typical 1970s capex needs