| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 46th | Poor |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 192 Beach 102nd St, Rockaway Park, NY, 11694, US |
| Region / Metro | Rockaway Park |
| Year of Construction | 2011 |
| Units | 22 |
| Transaction Date | 2022-08-30 |
| Transaction Price | $3,800,000 |
| Buyer | B102 LLC |
| Seller | CIRCLE 102 HOLDINGS LLC |
192 Beach 102nd St, Rockaway Park Multifamily Investment
Renter-occupied housing is prevalent in the neighborhood surrounding the asset, supporting a deeper tenant base and steady leasing, according to WDSuite s CRE market data. Neighborhood occupancy and amenity access point to demand resilience for a well-located 22-unit property in Queens.
This Urban Core pocket of Rockaway Park scores A- for overall neighborhood quality (ranked 185 among 889 metro neighborhoods), with amenity access that is top quartile nationally. Caf e9, grocery, and restaurant density benchmark in the low-to-mid 90s national percentiles, and park access sits at the 100th percentile, indicating strong day-to-day convenience that helps sustain renter demand.
For context, neighborhood metrics show an occupancy rate measured for the neighborhood near the upper half nationally and a renter-occupied share at the top quartile among 889 metro neighborhoods a positive signal for multifamily depth. The local homeownership landscape reflects elevated home values versus the nation (upper 80s percentile) and a value-to-income ratio around the 75th percentile, which tends to reinforce reliance on rental housing and can aid retention and pricing power.
Property vintage matters: the subject was built in 2011, newer than the neighborhood s average construction year (1991). Newer stock generally competes well against older buildings on finishes and systems, while investors should still plan for mid-life capital items and selective modernization to drive rent premiums where justified.
Demographic statistics aggregated within a 3-mile radius indicate recent population and household growth over the last five years, with contract rents trending higher. Forward-looking projections point to smaller average household sizes and an increase in total households, implying a larger renter pool even if population growth moderates a setup that can support occupancy stability and lease-up velocity for appropriately positioned units.
School ratings in this neighborhood benchmark low versus national peers, which may temper appeal for family renters seeking top academic performance; however, broad amenity access, transit connections across Queens and into Manhattan, and a deep regional job base can offset some of that friction for working-age tenants.
Safety indicators for the neighborhood benchmark below national averages, with both violent and property offense rates sitting in lower national percentiles. Recent data shows year-over-year declines in estimated violent and property offenses, signaling improving momentum even if levels remain elevated compared with many U.S. neighborhoods.
For investors, the takeaway is to underwrite conservative security and insurance assumptions while noting the positive trend. Monitoring continued trajectory at the neighborhood level rather than block-by-block claims is the most reliable approach to risk management.
The surrounding Queens and Manhattan corridors provide a diversified white-collar employment base that supports renter demand and commute convenience. Key nearby corporate offices include Prudential, Dr Pepper Snapple Group, AIG, S&P Global, and Guardian Life.
- Prudential insurance (6.0 miles)
- Dr Pepper Snapple Group beverages (12.3 miles)
- Aig insurance (12.8 miles) HQ
- S&P Global financial information (12.9 miles) HQ
- Guardian Life Ins. Co. of America insurance (12.9 miles) HQ
2011 construction positions this 22-unit asset as relatively new for Rockaway Park, offering competitive appeal versus older local stock while entering the mid-life phase where targeted upgrades can unlock value-add upside. The neighborhood shows strong amenity access and a renter-occupied housing share that is competitive among Queens submarkets, supporting tenant depth and leasing durability. According to CRE market data from WDSuite, neighborhood occupancy sits in the upper half nationally, while elevated ownership costs in the area tend to sustain reliance on multifamily housing.
Within a 3-mile radius, recent gains in households and rising incomes align with rent growth, and projections indicate smaller average household sizes and more households over time a dynamic that can expand the renter base even if population growth slows. Investors should balance these strengths against lower school benchmarks and below-average safety percentiles by underwriting prudent operating expenses and resident-experience investments.
- 2011 vintage offers competitive positioning with potential mid-life capex and renovation upside.
- Strong amenity access (parks, dining, daily needs) supports leasing and retention.
- Renter-occupied share is competitive among 889 metro neighborhoods, indicating depth of demand.
- Household growth and smaller sizes within 3 miles point to a broader renter pool and occupancy stability.
- Risks: below-average safety percentiles and low school ratings warrant conservative underwriting and property-level security enhancements.