| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 50th | Fair |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13739 45th Ave, Flushing, NY, 11355, US |
| Region / Metro | Flushing |
| Year of Construction | 2013 |
| Units | 93 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
13739 45th Ave, Flushing — Newer Multifamily in High-Cost Ownership Market
Neighborhood fundamentals point to durable renter demand and steady occupancy, according to WDSuite’s CRE market data, with this 2013 asset positioned to compete against older local stock. Metrics cited reflect neighborhood conditions, not property-level performance.
Situated in Flushing’s Urban Core, the property benefits from a renter-leaning neighborhood and strong utilization of existing housing. Neighborhood occupancy is high (95.4% for the area), with the rate ranked above many peers and in the top quartile nationally, supporting stability for professionally managed multifamily. Renter concentration is also elevated (about 62% of housing units are renter-occupied), indicating depth of the tenant base for lease-up and retention.
The asset’s 2013 construction is materially newer than the neighborhood’s mid-20th-century average (1954), offering competitive positioning versus older buildings. Newer systems and layouts can aid leasing and limit near-term capital exposure, though investors should still plan for periodic modernization to sustain pricing power over time.
Local livability drivers are favorable for urban renters: restaurant and cafe density ranks near the top of national peers (restaurants ~98th percentile; cafes ~99th), with groceries and park access also strong (around the 90th percentile). Average school ratings sit above the metro median (rank 247 out of 889), which can support family-oriented renter segments. Some services, such as pharmacies and childcare, are less dense in the immediate area and may require short commutes.
Within a 3-mile radius, recent trends show a modest dip in population alongside growth in household counts, implying smaller average household size and a broader renter pool. Looking forward, WDSuite indicates projected population growth and a more pronounced increase in households by 2028, alongside income gains, which together point to sustained multifamily demand and potential support for rent levels.
Home values in the neighborhood rank in the upper tail nationally and the value-to-income ratio is among the highest, signaling a high-cost ownership market. That context typically reinforces reliance on rental housing and can underpin lease retention and pricing resilience for well-maintained multifamily communities.
Neighborhood safety indicators are mixed but trending in a constructive direction. Relative to U.S. neighborhoods, the area sits below national safety percentiles, and within the New York–Jersey City–White Plains metro it does not rank among the stronger safety cohorts (rank 198 out of 889). However, according to CRE market data from WDSuite, both violent and property offense rates have declined year over year, placing those improvements among the better national trend percentiles. Investors should view this as a risk to underwrite, with the recent downward trend a mitigating factor.
Proximity to major employers across finance, airlines, aerospace, and pharmaceuticals supports commuter convenience and renter retention. The list below highlights nearby corporate offices frequently tapped by the area’s workforce.
- Prudential — financial services (6.0 miles)
- Jetblue Airways — airline HQ and corporate (6.1 miles) — HQ
- Lockheed Martin — defense & aerospace offices (7.8 miles)
- Citigroup — banking & capital markets (7.9 miles) — HQ
- Pfizer — pharmaceuticals (7.9 miles) — HQ
This 93‑unit property, built in 2013, is notably newer than the surrounding neighborhood average and therefore competitive against mid-century inventory. Neighborhood-level occupancy sits in the top quartile nationally, and renter-occupied housing is prevalent, pointing to depth of demand and support for leasing velocity. High home values and a very elevated value-to-income ratio indicate a high-cost ownership market, which typically sustains reliance on rentals and helps stabilize renewals.
Within a 3-mile radius, household counts have risen even as population edged down, suggesting smaller household sizes and a broader renter pool. WDSuite’s commercial real estate analysis indicates projected population and household growth through 2028 alongside income gains, a combination that can support rent levels and occupancy stability over a multi-year hold.
- Newer 2013 vintage competes well versus older neighborhood stock, with potential to limit near-term capital needs.
- Neighborhood occupancy is strong and renter-occupied share is high, supporting depth of the tenant base.
- High-cost ownership market reinforces rental demand and can aid pricing power for well-maintained units.
- 3-mile outlook shows growth in households and incomes, aligning with sustained multifamily demand.
- Risk: Safety metrics trail national averages despite recent improvement; active management and underwriting are warranted.