| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4611 88th St, Elmhurst, NY, 11373, US |
| Region / Metro | Elmhurst |
| Year of Construction | 1988 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4611 88th St, Elmhurst NY Multifamily Investment
Neighborhood metrics point to durable renter demand and above-median occupancy for the area, according to CRE market data from WDSuite. A high renter-occupied share at the neighborhood level supports leasing depth for a 32-unit asset in Queens.
Elmhurst s Urban Core location offers daily convenience that is competitive among New York Jersey City White Plains neighborhoods (47th of 889 for overall amenities), with cafes, groceries, parks, and pharmacies all sitting in the top national percentiles for density. This concentration of services helps support resident retention and leasing velocity for workforce and commuter households.
For investors evaluating rent and occupancy, neighborhood-level occupancy trends have been stable and sit above the national median, while median contract rents are elevated for the metro and have grown over the past five years (based on WDSuite s CRE market data). The neighborhood s renter-occupied share is high, indicating a deep tenant base that typically supports ongoing absorption and occupancy stability across cycles.
Within a 3-mile radius, demographics show modest population growth recently and a larger increase in households alongside rising median and mean incomes. This points to a gradually expanding renter pool and improving income capacity near the property, which can support rent collections and reduce lease-up risk relative to weaker submarkets.
Ownership remains a high-cost proposition in this area median home values are well above national norms and the value-to-income ratio is high. That ownership landscape reinforces reliance on multifamily rentals and can bolster pricing power for well-managed assets, though investors should monitor rent-to-income levels (the neighborhood s ratio indicates some affordability pressure that calls for attentive lease management and renewal strategies). Average school ratings in the area are below national averages, which may shape unit-mix appeal for family renters but is often offset by strong transit and amenity access in this part of Queens.
The subject property s 1988 vintage is newer than the neighborhood s average construction year, indicating relative competitiveness versus older housing stock. Still, investors should plan for ongoing system refreshes and selective renovations to keep finishes and building systems market-relevant.
Safety outcomes at the neighborhood level trend below national averages, with crime measures indicating a comparatively higher incidence than many U.S. neighborhoods. Within the metro, the neighborhood ranks 247th out of 889 on crime, placing it in a weaker cohort locally. That said, recent year-over-year data show notable improvement, with both violent and property offense rates declining, which is a constructive trend for long-term stabilization.
For underwriting and operations, this context argues for standard security measures, lighting, and resident engagement, while recognizing that improving trajectories can aid perception and leasing over time.
Proximity to major employment nodes supports commuter convenience and broad renter demand, including airline operations, defense/aerospace offices, and blue-chip financial and pharma headquarters that are within typical transit sheds for Queens renters.
- Jetblue Airways airline HQ (3.3 miles) HQ
- Lockheed Martin defense & aerospace offices (5.0 miles)
- Pfizer pharmaceuticals (5.0 miles) HQ
- Citigroup financial services (5.1 miles) HQ
- TIAA financial services (5.1 miles) HQ
4611 88th St offers investors exposure to Queens renter-heavy Urban Core fundamentals with dense amenities, a deep employment base, and neighborhood occupancy that trends above national medians. The 1988 vintage is newer than the local average, providing a competitive edge versus older stock while leaving room for targeted system updates and interior upgrades to enhance positioning. According to CRE market data from WDSuite, elevated ownership costs in the area sustain multifamily reliance, supporting demand resilience for well-managed assets.
Investor considerations include affordability pressure at the neighborhood level and below-average school scores, alongside safety metrics that sit below national norms but have improved year over year. With disciplined operations, these risks are manageable and can be offset by the area s strong amenity fabric, transportation access, and proximity to major employers.
- Renter-heavy neighborhood and above-median occupancy support leasing stability
- 1988 vintage is newer than local average, with value-add potential via selective upgrades
- Dense amenities and access to major employers underpin long-term renter demand
- Elevated ownership costs reinforce reliance on rentals, aiding pricing power
- Risks: affordability pressure, below-average school ratings, and safety that warrants active management