| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 46th | Poor |
| Amenities | 78th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1220 Richmond Rd, Staten Island, NY, 10304, US |
| Region / Metro | Staten Island |
| Year of Construction | 1976 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1220 Richmond Rd, Staten Island Multifamily Investment
Neighborhood occupancy is strong and supported by a deep renter base and elevated ownership costs in Staten Island, according to WDSuite’s CRE market data. This points to steady leasing fundamentals near the property rather than outsized volatility.
The asset sits in Staten Island’s Urban Core, a B+ rated neighborhood that is competitive among New York metro neighborhoods (ranked 316 out of 889). Local living patterns favor day-to-day convenience: pharmacies and groceries are dense by national standards (both near the top decile nationally), and café and restaurant counts are also high, reinforcing walkable demand drivers that help sustain renter interest.
Rents in the surrounding neighborhood benchmark above many U.S. areas while maintaining a rent-to-income profile near 19%, which supports lease retention. Neighborhood occupancy is about 96% and has improved over the past five years, sitting in the top quartile nationally; this indicates stable absorption for small and mid-size multifamily. These are neighborhood-level statistics, not property performance.
Within a 3-mile radius, population and households have grown over the past five years and are projected to continue rising through 2028, expanding the potential tenant base. The renter-occupied share locally is in the high-30s today with a modest uptick expected, which points to a durable pool of prospective renters rather than a transient spike. Household incomes in the area have trended higher, supporting consistent rent collections.
Home values in the neighborhood are elevated relative to income (high national percentile for value-to-income), creating a high-cost ownership market that tends to reinforce reliance on multifamily rentals and supports pricing power for well-maintained assets. Offsetting considerations include very limited park access and below-average school ratings (nationally low percentile), which can influence certain household segments. The average neighborhood construction year is 1967; at 1977, the subject’s vintage is newer than much of the nearby stock, offering a competitive position versus older buildings while still warranting targeted system updates or cosmetic upgrades for repositioning.
Neighborhood safety is competitive among New York metro neighborhoods (crime rank 201 out of 889), placing the area ahead of many peers across the region. Compared with neighborhoods nationwide, it sits around the middle of the pack. Importantly, recent year-over-year trends point in a favorable direction, with both property and violent offense rates declining.
For investors, the combination of a metro-competitive standing and improving year-over-year incident rates supports leasing stability and tenant retention assumptions, while still warranting standard risk management and security planning consistent with urban New York settings.
Proximity to corporate employers supports a broad commuter tenant base and reduces turnover risk. Key nearby employers include Performance Food Group, Dr Pepper Snapple Group, Robert Half, S&P Global, and Guardian Life.
- Performance Food Group — corporate offices (6.5 miles)
- Dr Pepper Snapple Group — corporate offices (6.9 miles)
- Robert Half International — staffing & services (8.5 miles)
- S&P Global — financial information & analytics (8.5 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (8.6 miles) — HQ
1220 Richmond Rd offers investors exposure to a Staten Island submarket with resilient renter demand, metro-competitive occupancy, and elevated ownership costs that help sustain reliance on rentals. Based on CRE market data from WDSuite, the surrounding neighborhood shows strong amenity access and stable rent-to-income dynamics that support retention and consistent collections.
Built in 1977, the property is newer than the neighborhood’s average vintage, positioning it well against older stock while leaving room for targeted value-add through system modernization and interior refreshes. Demographic growth within a 3-mile radius and a renter-occupied share that is expected to edge higher suggest a steady tenant pipeline for a 20‑unit asset.
- Metro-competitive neighborhood occupancy with five-year improvement supports leasing stability
- Elevated home values versus income reinforce renter reliance and pricing power
- 1977 vintage is newer than local average, allowing selective value-add to enhance positioning
- 3-mile population and household growth expands the prospective tenant base
- Risks: low school ratings and limited parks; maintain prudent security and capex planning