| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Good |
| Demographics | 54th | Fair |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8937 161st St, Jamaica, NY, 11432, US |
| Region / Metro | Jamaica |
| Year of Construction | 2003 |
| Units | 50 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8937 161st St Jamaica, NY Multifamily Position
Neighborhood occupancy has held in the low-90s, pointing to steady rent rolls and leasing continuity, according to WDSuite’s CRE market data. Newer construction relative to local stock supports competitive appeal for working households in Queens.
Situated in Jamaica’s Urban Core, the property benefits from strong neighborhood fundamentals: the area holds an A- rating and ranks 191 out of 889 metro neighborhoods, placing it in the top quartile among New York–Jersey City–White Plains submarkets. Amenity access is a clear strength, with restaurants, parks, pharmacies, and grocery options performing in the upper national percentiles, which supports day-to-day convenience and renter retention.
The 2004 vintage stands newer than the neighborhood’s older housing stock (average vintage 1941), suggesting relative competitiveness versus legacy assets. For investors, that typically means fewer near-term capital items for core systems and a clearer path to selective upgrades that can refresh interiors without a full repositioning.
Tenure patterns vary by geography. Within the immediate neighborhood, the share of housing units that are renter-occupied is modest, implying a thinner local renter base; however, demographics aggregated within a 3-mile radius indicate a roughly even split between owner and renter households, which helps sustain leasing demand beyond the immediate blocks. Household counts have increased over the last five years, and forecasts point to further gains alongside smaller average household sizes—trends that generally broaden the renter pool and support occupancy stability.
Pricing context also favors rentals. Elevated home values—well above national norms—coupled with solid household incomes create a high-cost ownership market that can reinforce reliance on multifamily housing. Neighborhood asking rents are comparatively high by national standards, yet rent-to-income readings point to manageable affordability pressure in this area, an important consideration for lease retention and revenue consistency. These dynamics align with what multifamily property research often finds in dense, transit-served Queens submarkets.
Schools rate around the national middle, which is serviceable but not a demand driver on its own. Overall, strong amenity access, newer property vintage versus local stock, and broad-area renter depth provide durable fundamentals while leaving room to create value through targeted renovations and ongoing tenant experience improvements.
Safety indicators for the neighborhood track below national medians, with violent and property offense measures ranking in the lower national percentiles. Within the metro, the area sits in the lower tier (ranked 313 out of 889), signaling that investors should underwrite prudent security and operations protocols.
That said, recent momentum is constructive: estimated property offenses declined meaningfully year over year, a trend that compares favorably to many neighborhoods nationwide. For underwriting, this mix suggests balancing realistic operating assumptions with the acknowledgement of improving directionality.
Proximity to a diverse white-collar employment base supports renter demand and retention, led by financial services, airlines, pharmaceuticals, aerospace, and telecom offices within a commutable radius.
- Prudential — financial services (4.0 miles)
- Jetblue Airways — airline (7.6 miles) — HQ
- Pfizer — pharmaceuticals (9.3 miles) — HQ
- Lockheed Martin — aerospace & defense (9.3 miles)
- Verizon Communications — telecom (9.4 miles)
This 50-unit asset delivered in 2004 is materially newer than surrounding housing stock, offering competitive positioning versus prewar buildings while leaving room for selective modernization. Occupancy in the neighborhood has remained in the low-90s, and elevated for-sale pricing across Queens underpins steady multifamily demand by keeping many households in the renter pool. According to CRE market data from WDSuite, rents in this area are high relative to national benchmarks, yet rent-to-income readings indicate manageable affordability pressure—supportive of retention and measured pricing power.
Demographics aggregated within a 3-mile radius show growing household counts and a shift toward smaller household sizes, expanding the addressable renter base even with stable population levels. Strong amenity access and commutable proximity to diversified employers further reinforce leasing durability. Key risks include safety metrics that trail national norms and school ratings near the middle of the pack, both of which warrant conservative operating assumptions.
- 2004 construction provides a competitive edge versus older local stock with selective value-add potential
- Neighborhood occupancy in the low-90s supports income stability
- High-cost ownership market reinforces renter reliance on multifamily housing
- 3-mile area shows expanding household counts and a broader renter pool
- Risk: safety indicators below national medians warrant conservative underwriting and property-level security planning