| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 87th | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1028 Jackson Ave, Long Island City, NY, 11101, US |
| Region / Metro | Long Island City |
| Year of Construction | 2005 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1028 Jackson Ave, Long Island City Multifamily Investment
Amenity-rich Urban Core location with a deep renter base and strong neighborhood income indicators, according to WDSuite’s CRE market data, supports durable leasing fundamentals for a 2006-built, 25-unit asset. Neighborhood statistics referenced here are for the surrounding area, not the property’s own occupancy.
Long Island City’s Urban Core setting offers dense amenities and commuter convenience that typically bolster tenant retention. The neighborhood ranks 34th out of 889 metro neighborhoods for amenities, which is competitive among New York-Jersey City-White Plains neighborhoods, and sits in the top national percentiles for restaurants, cafes, groceries, parks, and pharmacies. Average school ratings are mid-range (3.0/5), adequate for urban renters weighing proximity and services.
Renter demand is reinforced by a high share of renter-occupied housing at the neighborhood level, placing it in a strong national percentile. Median contract rents are elevated locally while the neighborhood rent-to-income ratio sits near a level that suggests manageable affordability pressure for many renters — useful for lease management and pricing power. Median home values in the area are high relative to national norms, indicating a high-cost ownership market that can sustain reliance on multifamily housing.
Demographic statistics are aggregated within a 3-mile radius. Over the last five years, household counts expanded modestly while population held roughly flat, implying smaller household sizes; forward-looking projections indicate population growth and a substantial increase in households, which would expand the renter pool and support occupancy stability for nearby assets if realized, based on CRE market data from WDSuite.
Operating metrics at the neighborhood level are favorable for income: average NOI per unit ranks 18th of 889 metro neighborhoods (top-tier nationally). The average construction year for nearby stock is 1997. With a 2006 vintage, the subject property is newer than the area average, offering competitive positioning versus older buildings while still warranting targeted modernization planning as systems age.
Neighborhood safety indicators compare less favorably to national benchmarks. The area’s crime rank is 269 out of 889 metro neighborhoods, indicating higher crime relative to many parts of the metro rather than above-average safety. Nationally benchmarked measures place the neighborhood below the national average for safety; however, recent year-over-year trends show double-digit declines in both violent and property offenses, suggesting improving conditions rather than deterioration.
For investors, the takeaway is risk management rather than avoidance: consider enhanced on-site security, lighting, and access controls, and weigh these factors in underwriting alongside the area’s strong amenity access and employment base. These figures reflect neighborhood-level conditions, not the property specifically.
Proximity to major corporate offices supports a sizable commuter renter base and can aid leasing and retention, particularly among professionals in aviation, pharmaceuticals, telecom, defense, and financial services located within roughly 1.5 miles.
- Jetblue Airways — airlines (0.99 miles) — HQ
- Pfizer — pharmaceuticals (1.16 miles) — HQ
- Verizon Communications — telecom (1.22 miles)
- Intl Fcstone — financial services (1.29 miles) — HQ
- L-3 Communications — defense & aerospace (1.29 miles) — HQ
1028 Jackson Ave offers investors participation in an amenity-dense Long Island City micro-market with strong neighborhood income signals and a high renter-occupied share that broadens the tenant base. The 2006 construction is newer than nearby averages, providing competitive positioning versus older stock while allowing for targeted value-add through modernization of finishes and building systems. According to CRE market data from WDSuite, neighborhood-level operating indicators such as NOI per unit perform in top-tier ranges, and forward-looking 3-mile projections point to population growth and notable household expansion — dynamics that can support occupancy stability and rent performance if realized.
Key considerations include underwriting a neighborhood that benchmarks below national safety averages and monitoring affordability pressure amid elevated local rents. High-cost ownership dynamics in the area typically sustain multifamily reliance, but lease management should balance pricing with retention.
- Amenity-rich Urban Core location with top-tier neighborhood income and NOI-per-unit performance
- 2006 vintage offers competitive positioning versus older stock with targeted modernization upside
- Deep renter base and projected 3-mile household growth support leasing and retention
- High-cost ownership market reinforces demand for multifamily housing
- Risks: neighborhood safety benchmarks below national averages; manage affordability and security in underwriting