| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 51st | Fair |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6006 60th Dr, Maspeth, NY, 11378, US |
| Region / Metro | Maspeth |
| Year of Construction | 1996 |
| Units | 31 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6006 60th Dr, Maspeth NY Multifamily Investment
Renter demand at the neighborhood level is deep and supported by strong amenity access and an Urban Core location, according to WDSuite’s CRE market data. For investors, the area’s high renter concentration and stable neighborhood occupancy point to durable leasing, with pricing power shaped by a high-cost ownership market.
Positioned in Maspeth (Queens), the property sits within an Urban Core neighborhood rated A- and ranked 158 of 889 in the New York–Jersey City–White Plains metro—placing it in the top quartile among metro neighborhoods. Neighborhood occupancy is steady around the low-90s, and renter-occupied housing is prevalent (near the top of national ranges), indicating a substantial tenant base and depth for multifamily leasing, based on CRE market data from WDSuite.
Amenity access is a clear strength: restaurant, café, grocery, park, and pharmacy densities rank near the top nationally, supporting day-to-day convenience and retention. Average school ratings trend below national norms, which can influence the renter mix toward households prioritizing proximity to jobs and services rather than school-driven location decisions.
Home values in the neighborhood are elevated relative to U.S. norms, and the value-to-income ratio is also high. In investor terms, this signals a high-cost ownership market that can reinforce reliance on rental housing. Median contract rents have grown over the past five years, while rent-to-income ratios remain manageable compared with many coastal submarkets—supporting lease stability and renewal prospects.
The property’s 1997 construction is newer than the neighborhood’s older housing stock (average vintage early 1930s). This positioning can be competitively advantageous versus prewar assets, though investors should still plan for modernization and systems upkeep typical of late-1990s construction. The average unit size of roughly 404 sf suggests a compact layout that can appeal to budgets focused on access and commute convenience.
Within a 3-mile radius, population and households have expanded in recent years, with forecasts indicating further household growth and smaller average household sizes. For multifamily investors, that combination implies a larger renter pool and sustained absorption potential that supports occupancy stability over the medium term.
Safety indicators for the neighborhood trail national averages, with crime metrics ranking 253 out of 889 metro neighborhoods (lower ranks indicate higher reported crime). Nationally, the area sits below the median on both violent and property offense safety percentiles. That said, recent trend data shows year-over-year declines in estimated violent and property offenses, an improvement pace that compares favorably to many peer areas.
Investors should underwrite with prudent assumptions—factoring for security, lighting, and access controls—while recognizing that the improving trend can support leasing and retention if it persists.
Nearby employment centers include corporate offices in aviation, pharmaceuticals, insurance, and telecom, supporting a commuter-friendly renter base and weekday demand. The list below highlights major employers within a short radius that can contribute to leasing depth.
- Jetblue Airways — aviation HQ (3.0 miles) — HQ
- New York Life Insurance Company — insurance (4.3 miles)
- Pfizer — pharmaceuticals (4.3 miles) — HQ
- Prudential — insurance (4.3 miles)
- Verizon Communications — telecom (4.3 miles)
6006 60th Dr offers 31 units built in 1997—newer than much of the surrounding housing stock—providing a relative competitive edge versus older assets while still warranting selective modernization. Neighborhood fundamentals point to resilient renter demand: high renter concentration, strong amenity density, and neighborhood occupancy in the low-90s. Elevated ownership costs in Queens further support reliance on multifamily housing, while manageable rent-to-income dynamics bolster renewal potential, according to CRE market data from WDSuite.
Within a 3-mile radius, recent gains in households and forecasts for additional household growth alongside smaller average household size indicate a larger renter pool over time. The property’s compact average unit size (~404 sf) aligns with demand from budget-conscious renters prioritizing proximity to employment nodes and services. Key underwriting considerations include below-national safety metrics and school ratings, both of which may influence tenant mix and operating strategies.
- Newer 1997 vintage versus older neighborhood stock supports competitive positioning with targeted capex
- High renter concentration and steady neighborhood occupancy underpin leasing stability
- Elevated ownership costs in Queens reinforce multifamily demand and retention prospects
- 3-mile household growth and smaller household sizes expand the renter pool over time
- Risks: below-national safety metrics and school ratings may require tailored leasing and asset management