| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 58th | Fair |
| Amenities | 22nd | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 57 Springville Rd, Hampton Bays, NY, 11946, US |
| Region / Metro | Hampton Bays |
| Year of Construction | 2000 |
| Units | 37 |
| Transaction Date | 2005-08-23 |
| Transaction Price | $3,100,000 |
| Buyer | TN OF SO HAMPTON HOUSING AUTHORITY |
| Seller | HAMPTON BAYS APT A NY LP |
57 Springville Rd Hampton Bays Multifamily Opportunity
In an owner-leaning pocket of Hampton Bays with elevated home values, renter demand is supported by household growth and limited nearby rental supply, according to WDSuite’s CRE market data. The property’s positioning targets stable tenancy from a deepening 3-mile workforce and family base.
Hampton Bays sits within the Nassau–Suffolk metro and skews suburban with an owner-leaning housing stock. Neighborhood metrics point to elevated home values and a rent-to-income profile that supports pricing power without overextending tenants, based on CRE market data from WDSuite. Restaurants are present at a moderate density, while other daily-needs amenities register light locally, shaping a quieter residential setting rather than a high-amenity core.
The average school rating in the neighborhood trends around the middle of the pack nationally, offering broad appeal for family renters seeking stability. Compared with metro peers, the neighborhood scores above the metro median on housing quality indicators and sits in the top decile nationally for newer construction vintages; this asset’s 2000 vintage is slightly older than the local average (2005), signaling routine capital planning and select upgrades could enhance competitiveness and support value-add strategies.
Tenure patterns indicate a lower renter concentration at the neighborhood level (renter-occupied share is modest), which typically reduces turnover risk and can sustain rent collections when paired with high household incomes. Within a 3-mile radius, population and household counts have expanded and are projected to keep rising, pointing to a larger tenant base and continued multifamily absorption potential. Where household counts outpace rental stock growth, owners can often maintain occupancy stability and disciplined leasing.
Neighborhood occupancy has improved over the last five years but remains below national norms; investors should underwrite to conservative lease-up and retention assumptions while recognizing that high-cost ownership dynamics in the East End often reinforce reliance on rental housing. These conditions collectively position well-maintained assets to compete on quality and management execution rather than amenity saturation.
Safety indicators compare favorably versus national benchmarks. Overall crime sits above the national median (safer than average), and violent offense measures are in the top decile nationally, which is supportive of long-term renter retention and lease stability.
Property offenses benchmark better than most U.S. neighborhoods, though the latest year shows an uptick. Investors should monitor trend lines and coordinate with local management on lighting, access control, and site-level protocols to preserve the neighborhood’s generally favorable positioning.
Regional employment access is oriented toward corporate and technology manufacturers within commuting range, supporting workforce housing demand and lease retention for renters with East End ties. The employers below reflect nearby corporate offices relevant to the renter base.
- Motorola Solutions — communications technology (28.6 miles)
- Amphenol — electronics manufacturing (43.4 miles) — HQ
Built in 2000 with 37 units averaging large floor plans, the property competes in an owner-leaning Hampton Bays submarket where elevated home values and rising 3-mile household counts expand the renter pool. According to CRE market data from WDSuite, neighborhood occupancy has improved over five years yet remains below national norms, suggesting disciplined leasing and quality operations are central to the thesis.
The asset’s slightly older vintage relative to local stock (average 2005) creates logical value-add angles—targeted interior updates, curb appeal, and systems modernization—to capture rents supported by high household incomes and limited nearby rental alternatives. Forward-looking demographics within 3 miles indicate continued population and household growth, which can underpin absorption and retention even as amenity density remains light.
- Owner-leaning area with elevated home values reinforces reliance on quality rentals and supports pricing power
- Large-unit layouts (37 units) position the asset for family renters and longer tenures
- Value-add potential from 2000 vintage via selective renovations and modernization
- Demand supported by expanding 3-mile population and households, aiding absorption and lease stability
- Risks: below-average neighborhood occupancy and limited amenity density require conservative underwriting and strong property management