| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Good |
| Demographics | 84th | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9939 66th Ave, Rego Park, NY, 11374, US |
| Region / Metro | Rego Park |
| Year of Construction | 2013 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
9939 66th Ave Rego Park Multifamily Investment
Built in 2013 amid an older housing stock, this 40-unit asset is positioned for renter demand and competitive leasing in an amenity-dense Queens location, according to WDSuite’s CRE market data.
Rego Park scores competitively among New York–Jersey City–White Plains metro neighborhoods (ranked 38 of 889; A-rated) with dense daily-needs access. Cafes, groceries, pharmacies, parks, and restaurants rank in the top quartile nationally, supporting walkable living that helps stabilize renter interest and retention. Average school ratings are also in the upper tiers versus national peers, providing an additional draw for households.
The neighborhood’s occupied housing is majority renter-occupied at the broader area scale: within a 3-mile radius, roughly six in ten housing units are renter-occupied, indicating a deep tenant base for multifamily. Neighborhood occupancy is reported for the area, not this property, and remains solid by national standards, supporting ongoing leasing velocity and renewal potential.
Demographics aggregated within a 3-mile radius point to gradual population growth and an expanding household count, with projections indicating further household gains alongside smaller average household sizes by 2028. For investors, that combination suggests a larger renter pool over time and diversified demand across unit types.
Ownership costs in this part of Queens are elevated relative to many U.S. neighborhoods, which tends to reinforce reliance on rental housing and can support pricing power and lease retention for well-located apartments. Median contract rents and incomes track above national norms, framing a market where affordability management is a leasing consideration rather than a structural headwind.
Safety outcomes vary across Queens sub-areas. At the neighborhood level, Rego Park sits around the middle of the pack within the metro (crime rank 381 among 889 metro neighborhoods) and trends below the national safety percentiles, meaning it experiences more reported incidents than many U.S. neighborhoods. Recent year-over-year readings indicate declines in both property and violent offense rates, which is a constructive directional signal, but investors should underwrite with conservative assumptions and focus on property-level security and lighting.
Nearby employment anchors include Prudential, JetBlue Airways, Lockheed Martin, Pfizer, and TIAA. This concentration of office and headquarters roles within commuting distance supports renter demand, particularly for professionals seeking short commutes and lease stability.
- Prudential — corporate offices (4.24 miles)
- Jetblue Airways — corporate offices (4.72 miles) — HQ
- Lockheed Martin — defense & aerospace offices (6.42 miles)
- Pfizer — pharmaceuticals (6.42 miles) — HQ
- TIAA — financial services (6.51 miles) — HQ
The 2013 vintage stands out against a neighborhood housing stock that skews mid-20th century, offering more contemporary systems and finishes that can enhance competitiveness versus older alternatives while limiting near-term capital needs. Neighborhood occupancy is reported for the area at roughly the low-90s, and the surrounding 3-mile area shows a high share of renter-occupied units, pointing to depth of tenant demand and support for leasing stability.
Amenity density is a core strength for Rego Park, and ownership costs are elevated relative to many U.S. neighborhoods, which tends to sustain rental demand and retention. Based on CRE market data from WDSuite, the area’s rents and incomes track above national levels, suggesting pricing power for well-managed assets, while smaller-format units can appeal to single renters and commuters seeking convenience.
- Newer 2013 construction versus older neighborhood stock, supporting competitiveness and moderating near-term capex.
- Strong amenity access and commute options that bolster leasing velocity and renewals.
- Deep renter base within 3 miles and solid area occupancy that support income durability.
- Elevated ownership costs locally reinforce reliance on rentals, aiding pricing power for well-managed units.
- Risk: Neighborhood safety metrics trail national percentiles; prudent underwriting and property-level security are recommended.