| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 32nd | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8944 162nd St, Jamaica, NY, 11432, US |
| Region / Metro | Jamaica |
| Year of Construction | 2003 |
| Units | 45 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8944 162nd St, Jamaica NY Multifamily Investment
Neighborhood occupancy is strong and renter demand is supported by a high share of renter-occupied units, according to WDSuite’s CRE market data, positioning this address for stable leasing in an urban-amenity corridor.
Positioned in Jamaica’s Urban Core (Queens), the property sits in a B-rated neighborhood with dense, everyday amenities. Grocery, pharmacy, childcare, cafés, and restaurants are plentiful and rank in high national percentiles, supporting resident convenience and, in turn, lease retention, based on WDSuite’s CRE market data.
Neighborhood multifamily occupancy is about the mid‑90s and is competitive among New York–Jersey City–White Plains neighborhoods (266 of 889), a positive indicator for income stability. The area also has a high renter concentration (renter-occupied share in a high national percentile), signaling a deep tenant base for mid-market units.
Within a 3‑mile radius, population has been steady with modest growth, and households have increased, with additional household gains projected through 2028. This dynamic typically expands the renter pool and helps support occupancy stability even as average household sizes edge lower.
Home values trend high relative to national norms, and the value‑to‑income relationship favors renting over buying for many households. For investors, that backdrop sustains rental demand and pricing power, although rent‑to‑income ratios point to some affordability pressure that warrants thoughtful renewal and concession strategies.
Local building stock skews older, while this asset’s 2005 construction is newer than much of the area. The newer vintage can enhance competitive positioning versus pre‑war product, while mid‑life systems still merit capital planning and selective common‑area or in‑unit updates to capture premiums.
Safety metrics in this neighborhood track below national norms, placing it in a lower national percentile compared with communities across the country. Recent year‑over‑year data, however, show declines in both violent and property offenses, suggesting an improving trend rather than a resolved risk, according to WDSuite’s CRE market data.
Within the New York–Jersey City–White Plains metro (889 neighborhoods), the area sits around the middle of the pack, and conditions can vary by block. Investors often underwrite lighting, access control, and active management presence while monitoring multi‑year trend lines as part of risk‑adjusted planning.
A diverse employer base within commuting range supports workforce housing demand, with nearby corporate offices across insurance, airlines, pharmaceuticals, aerospace/defense, and telecom helping underpin leasing and retention.
- Prudential — insurance (3.8 miles)
- JetBlue Airways — airline HQ (8.0 miles) — HQ
- Pfizer — pharmaceuticals (9.6 miles) — HQ
- Lockheed Martin — aerospace & defense offices (9.7 miles)
- Verizon Communications — telecom offices (9.7 miles)
This 2005-vintage, 45‑unit asset offers relative competitiveness versus the area’s older building stock, with neighborhood occupancy in the mid‑90s and a high renter-occupied share that supports a deep tenant base. Elevated ownership costs locally reinforce reliance on multifamily housing, while steady 3‑mile household growth points to a larger renter pool over the coming years, according to CRE market data from WDSuite.
Execution should balance demand tailwinds with affordability management: rent‑to‑income ratios indicate pressure for some cohorts, and safety trends are improving but warrant ongoing monitoring. Mid‑life systems typical of a 2005 build suggest planning for targeted capex and value‑add upgrades to sustain competitiveness and rent capture.
- Newer (2005) vintage versus older local stock supports competitive positioning
- High neighborhood occupancy and renter concentration underpin leasing stability
- Elevated ownership costs sustain renter demand and support pricing power
- 3‑mile household growth expands the tenant base over the forecast period
- Risks: affordability pressure and below‑average safety require careful lease and OPEX management