| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 32nd | Poor |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15601 N Conduit Ave, Jamaica, NY, 11434, US |
| Region / Metro | Jamaica |
| Year of Construction | 1972 |
| Units | 46 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
15601 N Conduit Ave Jamaica NY Multifamily Investment
Neighborhood occupancy trends are steady and renter demand is supported by a meaningful renter-occupied base, according to WDSuite s CRE market data. Positioning focuses on durable leasing in an Urban Core pocket where homeownership costs sustain reliance on rentals.
This Urban Core neighborhood in Queens offers everyday convenience for residents, with grocery and pharmacy access performing above metro medians and strong compared with national benchmarks. Restaurant density is competitive among New York Jersey City White Plains neighborhoods, while parks and cafes are relatively limited considerations for tenant expectations and marketing.
Neighborhood occupancy is around the national middle, and one-bedroom contract rents have trended upward over the last five years based on CRE market data from WDSuite. The local renter-occupied share indicates a sizable tenant pool for multifamily, supporting renewal potential and day-one absorption, while still leaving headroom to compete with ownership options.
Within a 3-mile radius, the population and household counts have grown in recent years, with projections calling for further increases and a gradual reduction in household size. For investors, that points to a larger renter base over time and more demand for smaller, efficiently priced units, which can reinforce occupancy stability if product and pricing are aligned to local incomes.
Elevated home values in the neighborhood, alongside a high value-to-income context, suggest a high-cost ownership market. For multifamily owners, this typically supports pricing power and lease retention as households weigh the cost of buying versus renting.
Safety performance sits below national norms, with violent and property offense indicators tracking in lower national percentiles compared to neighborhoods nationwide. Conditions reflect an urban environment where investors often emphasize lighting, access control, and partnerships with professional security vendors to support resident satisfaction and leasing outcomes.
Recent year trends indicate crime has moved higher rather than lower, so underwriting should incorporate realistic operating practices and potential spend on security and maintenance. Framing performance relative to the broader New York metro is helpful for comp selection and rent positioning, but block-level variability warrants on-the-ground diligence.
Proximity to regional employers supports weekday traffic and leasing durability, especially for workforce renters prioritizing commute convenience. Notable nearby employers include Prudential, JetBlue Airways, Pfizer, Verizon, and New York Life Insurance Company.
- Prudential corporate offices (3.8 miles)
- Jetblue Airways corporate offices (10.1 miles) HQ
- Pfizer corporate offices (11.6 miles) HQ
- Verizon Communications corporate offices (11.7 miles)
- New York Life Insurance Company corporate offices (11.7 miles)
Built in 1972, this 46 unit asset is somewhat newer than the neighborhood s average vintage, offering a competitive edge versus older housing stock while still benefiting from targeted modernization to enhance durability and resident appeal. According to CRE market data from WDSuite, neighborhood occupancy is stable and rents have advanced over the last five years, while high relative ownership costs reinforce renter reliance on multifamily housing.
The 3-mile trade area shows population and household growth with projections for further increases, pointing to a larger tenant base and steady leasing pipelines. Average household sizes are expected to decline, which can favor efficient layouts; with average unit sizes skewing small here, pricing and amenity strategy can align to capture demand while managing retention risk. Investors should underwrite operational measures for safety and leverage the area s employment access to support rent collections and lease stability.
- 1972 vintage offers value-add and modernization upside versus older neighborhood stock.
- High-cost ownership context supports multifamily demand and pricing power.
- 3-mile radius shows growing households and a potentially expanding renter base.
- Small average unit sizes can align with shifting household sizes and budget-conscious renters.
- Risks: below-national safety indicators and limited parks/cafes plan for security and amenity strategy.