| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Fair |
| Demographics | 39th | Poor |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 226 Fillmore St, Staten Island, NY, 10301, US |
| Region / Metro | Staten Island |
| Year of Construction | 2010 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
226 Fillmore St Staten Island Multifamily Investment
Newer 2010 construction offers competitive positioning versus the largely prewar neighborhood stock, supporting tenant appeal and operational durability according to WDSuite’s CRE market data. Neighborhood renter demand is supported by a majority renter-occupied housing base, while elevated ownership costs tend to sustain reliance on rentals.
Neighborhood and Livability Context
Set within Staten Island’s Urban Core, the immediate neighborhood carries a B+ rating and ranks 324 out of 889 metro neighborhoods—competitive among New York-Jersey City-White Plains, NY-NJ peers. With a 2010 vintage in an area where the average build year skews to 1940, the property competes well against older stock and may face comparatively lower near-term capital needs, though standard system updates should be planned as the asset ages.
Daily convenience is a strength: park access is top quartile nationally, and grocery, restaurant, cafe, pharmacy, and childcare density all trend well above U.S. norms, supporting lifestyle appeal and lease retention. School ratings sit below national averages, so family-oriented leasing strategies may require careful positioning and amenity emphasis.
Tenure patterns point to sustained multifamily demand: the neighborhood’s share of renter-occupied housing units is just over half, indicating a sizable tenant base. Median contract rents benchmark in the upper quartile nationally, while a rent-to-income profile around one-quarter suggests limited affordability pressure for many renters—conditions that can support occupancy stability and renewal rates. Elevated home values and a high value-to-income ratio characterize a high-cost ownership market, which typically reinforces renter reliance on multifamily housing rather than competing with it.
Demographics aggregated within a 3-mile radius show recent population and household growth, with households expanding faster than population—consistent with smaller household sizes and a larger renter pool. Forward-looking projections indicate additional increases in households and incomes, supporting depth of demand for professionally managed apartments without assuming new unit construction.
While the neighborhood occupancy rate reads softer than national benchmarks, strong amenity access and a broad renter base suggest conditions where hands-on leasing and asset differentiation can mitigate vacancy risk and sustain performance over a hold period.
Safety Context
Compared with neighborhoods nationwide, local crime benchmarks below national percentiles, indicating a more intensive risk profile than many U.S. areas. Within the New York-Jersey City-White Plains, NY-NJ metro, rankings place the neighborhood closer to the middle of the pack among 889 neighborhoods rather than in the top safety tier.
Trend-wise, WDSuite data shows double-digit year-over-year declines in both property and violent offense rates, suggesting conditions have recently improved even if absolute levels remain elevated versus national norms. Investors typically address this profile through security-forward operations, resident engagement, and lighting/camera upgrades calibrated to the asset’s plan.
- Performance Food Group — food distribution (4.36 miles)
- Dr Pepper Snapple Group — beverages (4.82 miles)
- Robert Half International — staffing & recruiting (6.04 miles)
- S&P Global — financial information (6.16 miles) — HQ
- Bank of New York Mellon Corp. — banking & asset servicing (6.40 miles) — HQ
These nearby corporate offices create a diversified employment base within commuting range, supporting renter demand and retention through steady white-collar and logistics-oriented jobs.
Investment Thesis
The 2010-vintage, 60-unit asset stands out in a submarket dominated by older buildings, offering competitive positioning against prewar stock and potentially lower near-term capital needs. Strong amenity access and a majority renter-occupied housing base support a deep tenant pool, while a high-cost ownership landscape (elevated home values and value-to-income ratios) tends to reinforce reliance on rentals. According to commercial real estate analysis from WDSuite, neighborhood rents trend in the upper quartile nationally with rent-to-income levels that suggest manageable affordability pressure, a backdrop that can aid renewals and occupancy management.
Growth signals aggregated within a 3-mile radius—recent gains in population and households with further increases projected—point to ongoing renter pool expansion and support for long-term leasing fundamentals. While neighborhood occupancy reads softer than national norms and safety metrics benchmark below national percentiles, recent crime-rate declines and proactive asset management can help mitigate these risks.
- 2010 construction competes well versus older neighborhood stock, with potential for selective modernization to drive rent premiums.
- Deep renter base and elevated ownership costs support sustained multifamily demand and lease retention.
- Strong amenity access (parks, groceries, dining) underpins livability and absorption.
- Demographic growth within 3 miles expands the tenant pool, supporting occupancy over time.
- Risks: softer neighborhood occupancy and below-average safety benchmarks require active leasing, security investments, and disciplined operations.