| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Fair |
| Demographics | 77th | Best |
| Amenities | 25th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2460 Shipyard Ln, East Marion, NY, 11939, US |
| Region / Metro | East Marion |
| Year of Construction | 1985 |
| Units | 62 |
| Transaction Date | 2012-03-13 |
| Transaction Price | $800,000 |
| Buyer | LORI JOHN D |
| Seller | FERNANDEZ JOSE M |
2460 Shipyard Ln, East Marion — 62-Unit Value-Add Opportunity
Ownership-heavy neighborhood fundamentals and elevated home values suggest durable renter demand for well-run assets, according to WDSuite’s CRE market data; note that occupancy figures cited refer to the surrounding neighborhood, not this property.
East Marion sits within Suffolk County’s suburban East End, with the neighborhood earning a B- rating and ranking below the metro median among 608 Nassau–Suffolk neighborhoods. Local rent levels trend high versus national benchmarks, while the neighborhood’s renter-occupied share is low, indicating a thinner immediate tenant base but potential pricing power for quality units.
Within a 3-mile radius, population and household counts have grown meaningfully over the last five years, expanding the potential renter pool and supporting occupancy stability for competitively positioned multifamily. Household incomes are comparatively strong, and bachelor’s degree attainment sits in the top quartile nationally, which can underpin demand for well-maintained rentals.
Home values are elevated relative to income levels in the neighborhood, characteristic of a high-cost ownership market. For investors, that context can sustain reliance on rental housing among households that prefer or need to rent, aiding lease retention and giving professionally managed assets room to defend rent levels.
Amenities are modest nearby: grocery access is middling by national percentile, parks score above average, while cafes and pharmacies are sparse. Average school ratings hover near the national middle, which, combined with the area’s quiet, low-density feel, points to demand concentrated among older households and lifestyle renters, with leasing strategies tailored accordingly.
Public crime metrics specific to this neighborhood were not available in the current WDSuite release. Investors commonly benchmark safety using county and metro trendlines, property-level incident history, and local law enforcement reports to gauge relative risk and inform security budgeting.
Given the suburban context, a practical diligence approach includes reviewing multi-year trends, comparing against nearby Nassau–Suffolk submarkets, and aligning on-site measures (lighting, access controls) with resident expectations to support retention.
Regional employers within commuting range can contribute to renter demand for workforce and professional households. Key names include General Dynamics, Amphenol, Xerox, and Motorola Solutions.
- General Dynamics — defense & aerospace (31.8 miles)
- Amphenol — electronics manufacturing (34.9 miles) — HQ
- Xerox — document technology (42.7 miles)
- Motorola Solutions — communications technology (43.1 miles)
Built in 1985 with 62 units, the property offers clear value-add and capital planning angles: systems and common areas may benefit from targeted modernization to compete against high-cost ownership alternatives. Based on CRE market data from WDSuite, the surrounding neighborhood skews ownership-heavy with relatively high rents and elevated home values, a combination that can reinforce renter reliance on well-run multifamily while requiring thoughtful lease-up and renewal strategies.
Within a 3-mile radius, recent growth in population and households points to a larger tenant base over time, supporting demand durability for professionally managed communities. Amenity access is modest, suggesting that on-site features and service quality can be differentiators. Overall, the thesis emphasizes steady demand potential with measured execution risk tied to the neighborhood’s thinner renter concentration and the asset’s 1980s vintage.
- Ownership-heavy area with elevated home values supports rental reliance and pricing power for quality units.
- 1985 vintage positions the asset for targeted renovations and operational upgrades to enhance competitiveness.
- 3-mile population and household growth expands the tenant base, aiding occupancy stability for well-managed assets.
- Amenity-light surroundings elevate the importance of on-site features and service as leasing differentiators.
- Risk: Low neighborhood renter-occupied share may lengthen lease-up and require focused marketing and retention.