| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Fair |
| Demographics | 75th | Best |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 825 S Ocean Ave, Freeport, NY, 11520, US |
| Region / Metro | Freeport |
| Year of Construction | 1987 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
825 S Ocean Ave Freeport Multifamily — 1987 Vintage, 20 Units
Renter demand is supported by above‑median neighborhood occupancy and strong local incomes, according to WDSuite’s CRE market data, though the immediate area skews more owner‑occupied than the metro overall.
Rated B+ and ranked 187 out of 608 Nassau–Suffolk neighborhoods, the immediate area is competitive among metro neighborhoods while posting occupancy above the national median. For investors, this points to generally steady renter demand at the neighborhood level even as leasing conditions vary by asset quality and unit mix.
The property’s 1987 construction is newer than the neighborhood’s older housing stock (average vintage mid‑1940s). That relative age advantage can reduce near‑term capital needs versus pre‑war buildings while still leaving room for targeted modernization to enhance positioning and rentability.
Livability features are mixed: restaurant density sits in the top percentile nationally, and parks and pharmacies rank in the top decile, offering lifestyle convenience. By contrast, café and grocery counts are limited locally, so residents may rely on nearby corridors for daily needs. These dynamics can shape marketing toward convenience‑seeking renters who prioritize dining and open‑space access.
Tenure patterns show a lower renter concentration within the neighborhood, but within a 3‑mile radius, the renter share is closer to one‑fifth of units with population and household growth projected to increase over the next five years. Based on CRE market data from WDSuite, higher household incomes and an ownership market with elevated home values support lease retention and pricing discipline for well‑maintained multifamily, though the owner‑leaning base means absorption hinges on product quality and commute convenience.
Neighborhood‑level crime figures are not available in WDSuite for this location, so comparative safety insights versus the Nassau–Suffolk metro and national benchmarks cannot be quantified here. Investors typically assess safety using multiple sources and trend views over time to understand tenant sentiment, retention, and operating practices.
Given the absence of ranked data, underwrite conservatively and consider on‑the‑ground observations, professional security assessments, and recent municipal reports to align policies and insurance assumptions with comparable suburban assets.
Proximity to established Long Island and New York City corporate employers supports a diverse commuter tenant base, with access to healthcare, aviation, finance, and life sciences roles reflected below.
- Henry Schein — healthcare distribution (12.8 miles) — HQ
- Prudential — insurance & financial services offices (14.4 miles)
- JetBlue Airways — aviation corporate offices (20.4 miles) — HQ
- Pfizer — pharmaceuticals corporate offices (22.1 miles) — HQ
- TIAA — financial services (22.2 miles) — HQ
This 20‑unit, 1987‑vintage asset offers relative age advantage in an inner‑suburban Nassau County setting where neighborhood occupancy trends sit above the national median and restaurant/park access is strong. The surrounding area is more owner‑occupied, but within a 3‑mile radius, population and household growth point to a gradually expanding renter pool, supporting steady leasing for well‑positioned units.
Elevated home values and solid household incomes in the 3‑mile trade area underpin renter reliance on quality apartments and can aid retention, while recent rent gains have been measured. According to commercial real estate analysis from WDSuite, investors should focus on targeted upgrades and efficient operations to capture demand without over‑relying on outsized rent growth.
- 1987 vintage vs. older local stock can reduce near‑term capex needs and supports value‑add modernization.
- Above‑median neighborhood occupancy and strong trade‑area incomes support leasing stability.
- High restaurant and park access enhances renter appeal despite limited immediate café/grocery options.
- Expanding 3‑mile population and households indicate a gradually larger tenant base over the next five years.
- Risks: owner‑leaning tenure limits depth of renters; modest recent rent growth; residents may rely on nearby corridors for daily needs.