| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 30th | Poor |
| Amenities | 78th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2237 Dix Ave, Far Rockaway, NY, 11691, US |
| Region / Metro | Far Rockaway |
| Year of Construction | 1999 |
| Units | 26 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2237 Dix Ave Far Rockaway Multifamily Investment
Neighborhood-level occupancy and renter demand appear durable according to WDSuite s CRE market data, supporting stable leasing fundamentals for a 26-unit asset in Queens. Elevated ownership costs in the area further reinforce sustained apartment demand.
This Urban Core pocket of Far Rockaway shows steady renter demand, with the neighborhood 9s occupancy near the upper half of metro peers and a renter-occupied share around two-thirds, signaling a deep tenant base for multifamily operators. Rents in the area have risen over the past five years, and neighborhood occupancy has edged higher, suggesting resilient absorption and potential for stable renewals.
Livability drivers skew toward daily-needs convenience: grocery, parks, and pharmacy access rank in high national percentiles, while restaurants are plentiful relative to many U.S. neighborhoods. Caf e9 density is limited, but childcare availability compares favorably, which can aid retention among households prioritizing services close to home. Average school ratings sit below national norms, an important consideration for family-oriented leasing strategies.
Within a 3-mile radius, population and households have grown in recent years, with projections indicating further population growth and a notable increase in household counts. The forecast points to smaller average household sizes, which typically expands the renter pool and supports occupancy stability for appropriately sized units.
Home values in the neighborhood are elevated compared with national benchmarks, and the value-to-income ratio ranks near the top nationally. In practice, this high-cost ownership market tends to sustain rental demand and can support pricing power and lease retention, particularly for well-managed properties that meet everyday convenience needs.
Asset positioning: The property 9s 1999 vintage is newer than much of the local housing stock (average vintage skews 1960s), offering relative competitiveness versus older buildings. Investors should still plan for system updates or selective modernization to maintain an edge against both renovated legacy product and newer deliveries across the metro.
Safety indicators for the neighborhood trend below national averages, with ranks near the middle of the pack among 889 metro neighborhoods. Recent estimates show violent and property offense rates that are elevated compared with many U.S. neighborhoods, and year-over-year changes indicate mixed momentum. Investors should underwrite with pragmatic security measures and tenant-experience plans, and compare trends to nearby submarkets for context.
Commuting access to major employers underpins workforce housing demand in this part of Queens, with proximity to insurance, finance, airline, and beverage corporate offices that can support tenant retention.
- Prudential d insurance (6.6 miles)
- Jetblue Airways d airline (13.8 miles) d HQ
- Dr Pepper Snapple Group d beverage (14.7 miles)
- Aig d insurance (14.8 miles) d HQ
- S&P Global d financial information (14.9 miles) d HQ
2237 Dix Ave benefits from neighborhood fundamentals that favor rentals: occupancy has trended solidly with a high renter-occupied share, while household growth within a 3-mile radius points to a larger tenant base over time. Elevated home values relative to incomes indicate a high-cost ownership market, which typically sustains apartment demand and can support pricing discipline when paired with strong management, according to CRE market data from WDSuite.
Built in 1999, the asset is newer than much of the surrounding stock, offering competitive positioning versus older buildings while still warranting ongoing capital planning for systems and selective upgrades. Key underwriting considerations include below-average school ratings and safety metrics that lag national percentiles; aligning unit mix, security, and resident services to local expectations will be important for retention.
- Stable neighborhood occupancy and deep renter-occupied base support leasing durability
- Elevated home values reinforce sustained demand for rentals and pricing power potential
- 1999 vintage offers competitive edge versus older local stock with targeted modernization
- 3-mile radius shows population and household growth, expanding the tenant pool
- Risks: weaker school ratings and safety metrics relative to national benchmarks require proactive management