| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 43rd | Poor |
| Amenities | 8th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 641 Doctors Path, Riverhead, NY, 11901, US |
| Region / Metro | Riverhead |
| Year of Construction | 1981 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
641 Doctors Path, Riverhead NY Multifamily Investment
Positioned in a suburban corridor of Suffolk County, this 40-unit asset benefits from a stable renter base and ownership costs that support sustained demand, according to WDSuite’s CRE market data.
Riverhead’s suburban setting offers everyday convenience by car, with limited walkable amenities in the immediate neighborhood. Neighborhood occupancy trends sit near the metro median, suggesting steady leasing conditions without outsized volatility. Elevated home values relative to national norms point to a high-cost ownership market, which typically sustains renter reliance on multifamily housing and can support rent durability.
For investors evaluating tenant depth, the neighborhood’s renter-occupied share ranks in the top quartile among 608 metro neighborhoods, indicating a meaningful base of renter households. At the same time, national percentiles for amenities are low, so most residents likely drive for groceries, services, and dining; this can be neutral for demand but places more weight on on-site functionality, parking, and property management.
Demographic statistics aggregated within a 3-mile radius show recent population growth and an expanding mix of families and working-age residents, with forecasts pointing to further increases in households through the 2028 horizon. This larger tenant base supports occupancy stability and leasing velocity, while rising incomes in the area enhance the ability to absorb quality renovations. These dynamics align with broader commercial real estate analysis that ties growth and income gains to resilient renter demand.
Vintage is a consideration: the average construction year in the surrounding neighborhood skews newer than this property. With a 1981 build, investors should plan for targeted capital improvements and modernization, which can create value-add upside versus newer competitive stock if executed efficiently.
Safety indicators for the neighborhood compare favorably to national norms on both property and violent offense rates, placing the area in stronger percentiles nationwide. However, recent year-over-year changes show an uptick, so prudent underwriting would monitor trend direction and incorporate standard operating procedures—lighting, access control, and resident engagement—to help maintain stability.
Within the Nassau–Suffolk metro, relative standing varies by measure; investors should benchmark against peer neighborhoods across the 608-neighborhood region to contextualize risk and focus on property-level controls that support retention.
Regional employers within commuting range support a diversified renter base, with proximity to technology and industrial headquarters that can bolster leasing stability. The list below highlights Motorola Solutions along with HQ nodes for General Electric, Amphenol, and Terex.
- Motorola Solutions — communications technology (23.2 miles)
- General Electric — diversified industrials (35.8 miles) — HQ
- Amphenol — electronics manufacturing (36.0 miles) — HQ
- Terex — lifting equipment manufacturing (36.8 miles) — HQ
This 1981-vintage, 40-unit property offers exposure to a renter-oriented suburban pocket where high ownership costs reinforce multifamily demand. Neighborhood occupancy is around the metro median, and national percentile strength on offense rates is constructive, while investors should note the recent uptick in incident trends and modest local amenity density. Based on CRE market data from WDSuite, rent levels and value-to-income patterns indicate pricing power balanced against affordability pressure—favoring disciplined lease management.
The submarket’s 3-mile radius shows population and household growth with rising incomes through the forecast period, which supports a larger tenant base and potential renovation-driven repositioning. Given newer competitive stock nearby, a focused capex plan can close functional gaps and enhance relative competitiveness.
- High-cost ownership market supports durable renter demand and lease retention
- 3-mile population and household growth expand the tenant base through the forecast period
- 1981 vintage creates value-add potential via modernization versus newer nearby stock
- Occupancy around metro median with nationally strong safety percentiles supports stability
- Risks: amenity-light location, affordability pressure, and recent offense-rate upticks warrant active management