| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 78th | Best |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 464 Main St, Port Washington, NY, 11050, US |
| Region / Metro | Port Washington |
| Year of Construction | 1983 |
| Units | 40 |
| Transaction Date | 2006-12-22 |
| Transaction Price | $397,000 |
| Buyer | DELAROSA MARIA |
| Seller | HERNANDEZ JUANA |
464 Main St Port Washington Multifamily Thesis
Neighborhood occupancy remains near the mid-90s, supporting steady renter demand, according to WDSuite’s CRE market data. For investors, this points to durable leasing in an inner-suburban location with strong amenities and high-cost homeownership that can sustain multifamily absorption.
Port Washington’s inner-suburban setting scores A+ overall and ranks 14 out of 608 neighborhoods in the Nassau County–Suffolk County metro, placing it firmly above the metro median for investment fundamentals. Amenity access is competitive among Nassau County–Suffolk County neighborhoods (rank 50 of 608) and sits in the top quartile nationally, with grocery options ranked 56 of 608 and near the 95th percentile nationwide. Extensive park access (rank 3 of 608; ~99th percentile nationally) adds lifestyle appeal that can aid retention.
Renter-occupied housing comprises 19.3% of neighborhood units, indicating a smaller but stable renter base; in a high-income, high-cost ownership market, this typically supports tenant stability for well-positioned properties rather than rapid lease-up dynamics. Neighborhood home values benchmark high (near the 98th percentile nationally), which often reinforces reliance on rentals for households that prefer flexibility or face elevated ownership costs—an important context for pricing power and lease retention.
According to commercial real estate analysis from WDSuite, neighborhood occupancy is strong and has trended higher over the past five years, aligning with a healthy rent-to-income profile locally. Within a 3-mile radius, population and households have grown in recent years and are projected to continue expanding through 2028, signaling a larger tenant base and supportive demand for professionally managed multifamily.
The property’s 1983 vintage is newer than the neighborhood’s average construction year (1958), suggesting relative competitiveness versus older stock. Investors should still plan for targeted modernization and system updates typical of 1980s assets to sustain positioning against refreshed comparables.
Neighborhood safety indicators compare favorably to broader benchmarks. Based on WDSuite’s data, the area performs above the metro median (rank 98 out of 608) and sits above average nationally. Property offense metrics are especially strong (around the top percentile nationwide), while violent offense metrics are better than national norms (mid-80s percentile).
One consideration: the most recent year shows an uptick in estimated violent offense trends, even as absolute levels remain comparatively favorable. Investors may wish to monitor trend direction alongside standard security and lighting practices typical for suburban assets.
The nearby employment base features several headquarters and corporate offices within a manageable commute, supporting demand from professional households. This concentration of employers can help underpin leasing stability for workforce and managerial renters, including Mastercard, JetBlue Airways, XPO Logistics, W. R. Berkley, and PepsiCo.
- Mastercard — financial services (13.5 miles) — HQ
- JetBlue Airways — airlines/corporate (13.5 miles) — HQ
- XPO Logistics — logistics/corporate (13.5 miles) — HQ
- W. R. Berkley — insurance (13.8 miles) — HQ
- PepsiCo — food & beverage (14.3 miles) — HQ
This 40-unit asset at 464 Main St benefits from a high-ranking neighborhood (14 of 608 in the Nassau County–Suffolk County metro) with strong amenity depth and park access, plus a high-cost ownership landscape that tends to support multifamily demand. Neighborhood occupancy has remained in the mid-90s in recent years, and, based on CRE market data from WDSuite, rent-to-income conditions are consistent with sustained leasing rather than overextension.
The 1983 vintage is newer than the neighborhood’s average (1958), offering competitive positioning versus older stock while leaving room for targeted modernization. Within a 3-mile radius, population and household growth—along with projections for continued expansion through 2028—point to a larger tenant base over time. Key watch items include a lower neighborhood renter concentration and recent volatility in violent offense estimates, which warrant standard risk management and active leasing strategies.
- High-ranking inner-suburban location with strong amenities and park access supports retention
- High-cost ownership market reinforces reliance on rentals and pricing power potential
- 1983 vintage is competitive versus older neighborhood stock; targeted upgrades can enhance positioning
- Growing 3-mile population and households expand the tenant base and support occupancy stability
- Risks: modest renter concentration locally and recent uptick in violent offense trends call for proactive management