| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 66th | Good |
| Amenities | 53rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10 Springville Rd, Hampton Bays, NY, 11946, US |
| Region / Metro | Hampton Bays |
| Year of Construction | 2009 |
| Units | 30 |
| Transaction Date | 1997-11-25 |
| Transaction Price | $466,000 |
| Buyer | WOODBRIDGE AT HAMPTON BAYS LP |
| Seller | SIEGEL ADOLPH H |
10 Springville Rd Hampton Bays Multifamily Investment
Elevated home values in the neighborhood support sustained renter demand relative to ownership, according to WDSuite’s CRE market data. For investors, this points to pricing power potential when balanced with prudent lease management.
Hampton Bays is a suburban pocket in Suffolk County with an A- neighborhood rating (ranked 115 of 608 metro neighborhoods), indicating competitive quality among Nassau–Suffolk submarkets. Amenity access trends around the property are broadly mid-pack to slightly above metro norms, with cafes comparatively stronger than average nationally, while childcare options are thinner; investors should underwrite resident convenience accordingly rather than assume urban-level density.
Home values sit in a high-cost ownership market (around the 95th percentile nationally), which typically reinforces reliance on rental housing and can support lease retention for well-positioned communities. Median contract rents benchmark in the upper national percentiles, yet neighborhood rent-to-income ratios remain near the middle of national ranges, suggesting manageable affordability pressure and room for disciplined revenue management rather than aggressive pushes.
Within a 3-mile radius, WDSuite data shows population and household growth over recent years with further increases projected, expanding the local renter pool and supporting occupancy stability over the long run. The neighborhood exhibits an owner-leaning housing stock (renter-occupied share below half), implying a more selective but potentially higher-income tenant base; marketing should target workforce and professional renters seeking proximity to the East End with suburban amenities.
Neighborhood vintage trends skew newer (average construction circa 2014), while the subject’s 2009 build positions it slightly older than nearby stock. Investors should budget for ongoing modernization and common-area refresh cycles to remain competitive against newer deliveries, while leveraging the property’s relatively recent systems compared with older regional inventory.
Neighborhood-level safety metrics for this area are not available in WDSuite s dataset for the current release. Investors commonly contextualize safety by comparing neighborhood trends to metro benchmarks and by reviewing multiple public sources over time rather than relying on a single snapshot. Given the East End s mixed seasonal and year-round dynamics, a multi-period review can help clarify stability at the neighborhood level.
Regional employment access is anchored by corporate offices within commuting range, supporting renter demand from professional and technical workers. The nearby base includes Motorola Solutions and Amphenol, which can contribute to steady leasing from commuters.
- Motorola Solutions communications technology offices (28.5 miles)
- Amphenol electronics manufacturing (43.3 miles) HQ
Built in 2009, the 30-unit property at 10 Springville Rd competes in a high-cost ownership market where elevated home values tend to sustain rental demand and support retention. The surrounding neighborhood ranks competitively within the metro and shows growing households within a 3-mile radius, indicating a larger tenant base over time; according to CRE market data from WDSuite, neighborhood rents benchmark in upper national ranges while rent-to-income sits near mid-range levels, favoring disciplined revenue management.
Relative to newer local stock (average vintage around 2014), the asset may benefit from targeted upgrades to kitchens, baths, and common areas to maintain positioning against recent deliveries. The area s owner-leaning tenure mix implies a selective renter pool; careful leasing, unit finishes, and service levels can help capture demand and stabilize occupancy through seasonal fluctuations common to East End submarkets.
- High-cost ownership landscape reinforces reliance on rentals, supporting pricing power when paired with measured increases.
- Growing population and households within 3 miles expand the tenant base and support long-term occupancy stability.
- 2009 vintage suggests selective value-add opportunities to stay competitive versus newer neighborhood stock.
- Professional employment within commuting range contributes to steady leasing from higher-income renters.
- Risks: owner-leaning tenure and seasonal dynamics may elevate lease-up times; prudent concessions and amenity upgrades can mitigate.