| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 37th | Poor |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8446 Smedley St, Jamaica, NY, 11435, US |
| Region / Metro | Jamaica |
| Year of Construction | 2006 |
| Units | 47 |
| Transaction Date | 2005-05-24 |
| Transaction Price | $810,500 |
| Buyer | FRANTELLIZZI DOMINICK |
| Seller | BEMBURY DARIN |
8446 Smedley St Jamaica Multifamily with Durable Renter Base
Renter-occupied share is high in the surrounding neighborhood, supporting steady tenant demand and occupancy, according to WDSuite’s commercial real estate analysis. Newer 2006 construction provides competitive positioning versus older local stock.
The property sits in Jamaica’s Urban Core, where renter-occupied housing is prevalent and supports a deep tenant base. Neighborhood occupancy is steady and renter concentration is high, indicating durable demand for multifamily units and potential resilience through cycles based on CRE market data from WDSuite.
Everyday convenience is a differentiator: restaurants and parks are in the top tier nationally, and grocery and pharmacy density rank among the strongest nationwide. This amenity mix typically aids leasing velocity and retention, especially for workforce and transit-oriented renters.
Home values in the area are elevated relative to national norms, which tends to reinforce reliance on multifamily rentals and can support pricing power. At the same time, a higher rent-to-income ratio in the neighborhood signals affordability pressure to monitor for lease renewals and concessions strategy.
The average neighborhood building vintage skews mid‑20th century, while this asset’s 2006 construction is materially newer. That positioning can reduce near-term capital needs and improve competitiveness versus older inventory, though investors should still budget for systems modernization as the asset approaches two decades in service.
Demographic statistics are aggregated within a 3‑mile radius: households have grown even as average household size has edged lower, pointing to a larger renter pool and more one- to two-person household demand. Forward-looking estimates show continued household growth alongside rising incomes, which supports occupancy stability and rent trade‑outs over time.
Safety indicators in the immediate neighborhood trail national benchmarks, and the area ranks below the metro median (crime rank 385 among 889 New York–Jersey City–White Plains neighborhoods). Nationally, the neighborhood sits in lower safety percentiles, indicating higher reported crime than many U.S. neighborhoods.
Trend-wise, recent estimates point to improvement: violent offenses are trending down year over year and property offenses have also declined. For investors, this mix suggests underwriting with conservative assumptions on security and insurance while noting the recent downward trajectory.
Nearby employers span finance, airlines, and telecom, creating a broad commuter base that supports renter demand and retention. The list below highlights Prudential, JetBlue Airways, Pfizer, Lockheed Martin, and Verizon Communications within a typical commuting shed.
- Prudential — financial services (3.7 miles)
- Jetblue Airways — airline HQ and operations (7.1 miles) — HQ
- Pfizer — pharmaceuticals (8.8 miles) — HQ
- Lockheed Martin — defense & aerospace offices (8.8 miles)
- Verizon Communications — telecom (8.9 miles)
This 47‑unit, 2006 multifamily asset benefits from a high renter-occupied share in the surrounding neighborhood and steady occupancy trends. Elevated home values in Queens relative to income reinforce the renter value proposition, while dense amenities support leasing velocity and retention. According to CRE market data from WDSuite, neighborhood occupancy is stable and amenity access ranks among the strongest nationally, positioning the asset competitively within the metro.
Investor considerations include affordability pressure—rent-to-income is elevated locally—requiring disciplined lease management, and safety metrics that sit below national averages. The 2006 vintage is newer than the neighborhood norm, which can moderate near‑term capital needs while offering selective value‑add through interior updates and systems modernization to drive rents and reduce turnover.
- High renter concentration and steady neighborhood occupancy support demand durability
- 2006 construction outcompetes older local stock; targeted updates can unlock value
- Dense amenities and major employers nearby aid leasing and retention
- Risks: elevated rent-to-income ratios and below-average safety call for conservative underwriting