| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 30th | Poor |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 40 Graffing Pl, Freeport, NY, 11520, US |
| Region / Metro | Freeport |
| Year of Construction | 1974 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
40 Graffing Pl, Freeport NY — 20-Unit Multifamily
Neighborhood renter-occupied share is roughly half of housing units, supporting a steady tenant base and occupancy stability, according to WDSuite’s CRE market data.
Freeport’s Inner Suburb setting offers day-to-day convenience that supports multifamily leasing. Amenity access is competitive among Nassau County–Suffolk County neighborhoods (608 total), with strong concentrations of cafes, groceries, pharmacies, and restaurants relative to national benchmarks. That translates into practical walk-to or short-drive options for residents and fewer frictions in retention.
Multifamily dynamics in the neighborhood show occupancy in the low-90s, and about half of housing units are renter-occupied. For investors, that renter concentration indicates depth in the tenant pool and supports leasing continuity, while still leaving room for professional management to influence renewals and pricing.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to rise further, pointing to a larger tenant base over the medium term. Household incomes in the 3-mile area skew higher and have increased, which can sustain demand for quality rentals, though lease management should remain attentive to affordability and retention.
Ownership costs in the neighborhood are elevated versus many U.S. areas, which typically supports renter reliance on multifamily housing and helps maintain demand depth. At the same time, rent-to-income levels suggest some affordability pressure for parts of the renter cohort, warranting thoughtful renewal strategies.
Safety signals present a mixed picture. Relative to the Nassau County–Suffolk County metro (608 neighborhoods), the area’s crime rank is near the bottom, indicating higher incidents locally compared with the metro. However, compared with neighborhoods nationwide, safety metrics land in the top quartile, and recent year-over-year trends show notable improvement in both property and violent offense rates. Investors should underwrite with that contrast in mind, focusing on property-level controls and resident experience.
Proximity to regional employers anchors renter demand by shortening commutes and broadening the potential tenant base. Notable nearby employers include Fernando Monasterio - Citizens Bank, Henry Schein, Prudential, JetBlue Airways, and Pfizer.
- Fernando Monasterio - Citizens Bank — mortgage services (11.2 miles)
- Henry Schein — healthcare distribution (11.4 miles) — HQ
- Prudential — insurance (14.2 miles)
- Jetblue Airways — airline (19.8 miles) — HQ
- Pfizer — pharmaceuticals (21.5 miles) — HQ
Built in 1974, the property is newer than much of the local housing stock, offering relative competitiveness versus older buildings while leaving room for targeted modernization to enhance rentability. Neighborhood renters represent about half of occupied housing units, and occupancy sits in the low-90s, supporting stable leasing fundamentals. According to CRE market data from WDSuite, local amenities are strong versus national norms, and within a 3-mile radius the population and household base is expanding, which should widen the renter pool over time.
Elevated home values in the neighborhood reinforce reliance on multifamily options, which can support pricing power when paired with professional management and refreshed interiors. That said, rent-to-income levels point to affordability considerations for parts of the tenant base, and metro-relative safety rankings warrant prudent operating practices and community engagement.
- 1974 vintage offers competitive positioning versus older stock with value-add potential through selective upgrades.
- Neighborhood renter concentration and low-90s occupancy support demand depth and leasing stability.
- Strong amenity access and expanding 3-mile population/households broaden the tenant base.
- Elevated ownership costs tend to sustain multifamily demand and support renewal strategies.
- Risks: metro-relative crime ranking, limited nearby parks/childcare, and affordability pressure require active asset management.