| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Good |
| Demographics | 71st | Best |
| Amenities | 13th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 50 Colonial Springs Rd, Wheatley Heights, NY, 11798, US |
| Region / Metro | Wheatley Heights |
| Year of Construction | 1982 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
50 Colonial Springs Rd Value-Add Multifamily, Wheatley Heights NY
Neighborhood occupancy appears resilient and renter demand is underpinned by high-cost ownership and strong household incomes, according to WDSuite s CRE market data.
This suburban pocket of Wheatley Heights sits within the Nassau County Suffolk County, NY metro and shows steady renter fundamentals for multifamily. Neighborhood occupancy is reported at 96.3% (neighborhood metric, not property-specific) and ranks in the 79th percentile nationally, pointing to generally stable lease-up and retention conditions relative to U.S. peers, based on CRE market data from WDSuite.
Local amenity density inside the neighborhood boundary is limited for cafes, groceries, parks, and pharmacies, while restaurant access trends stronger (around the upper quartile nationally). For investors, this typically translates to car-oriented living with daily needs met in adjacent corridors rather than within the immediate blocks, a common dynamic in suburban Long Island submarkets.
Ownership costs in the area are elevated versus national norms (home values test in the upper decile nationally), which can reinforce reliance on rental housing and support pricing power for well-positioned assets. At the same time, the neighborhood rent-to-income ratio skews low relative to the nation, suggesting comparatively lower affordability pressure that can aid lease retention.
The share of housing units that are renter-occupied is modest (about the lower half nationally), implying a smaller but more selective renter base. Within a 3-mile radius, recent years show population and household growth, and forward-looking projections indicate additional household expansion by 2028, which would broaden the local renter pool and support occupancy stability over time.
Safety indicators present a mixed but manageable picture when framed against national and metro benchmarks. Overall neighborhood safety sits below the national midpoint, yet violent and property offense measures track above the national median (safer than average) on a nationwide basis. Recent-year volatility shows upticks in reported offense rates, so investors should monitor trend direction rather than relying solely on a single-year snapshot.
Within the Nassau County Suffolk County, NY metro (608 neighborhoods), the area reads around the middle of the pack on comparative ranks, with some metrics near or above the metro median. As always, assess property-level security features, lighting, and management practices alongside these neighborhood trends.
Proximity to established employers supports a commuter-friendly tenant base and can bolster leasing stability. Nearby corporate offices include Henry Schein, a regional mortgage office for Citizens Bank, Motorola Solutions, United Rentals, and Charter Communications.
- Henry Schein — healthcare distribution (2.3 miles) — HQ
- Fernando Monasterio - Citizens Bank, Home Mortgages — mortgage services (4.0 miles)
- Motorola Solutions — communications & public safety tech offices (16.7 miles)
- United Rentals — equipment rental corporate offices (21.8 miles) — HQ
- Charter Communications — telecom & media corporate offices (21.9 miles) — HQ
Built in 1982 with 72 units, the property offers potential value-add and systems modernization opportunities typical of 1980s vintage stock, while benefiting from a suburban Long Island location where neighborhood occupancy runs strong and homeownership costs are elevated relative to national benchmarks. According to WDSuite s multifamily property research, this combination supports durable renter demand and provides a backdrop for steady leasing when assets are well-managed.
The surrounding neighborhood features a smaller renter-occupied share but high household incomes and car-oriented convenience to employment nodes. Within a 3-mile radius, recent and projected growth in households points to an expanding tenant base over the medium term. Investors should weigh amenity-light blocks and recent safety volatility against the area s strong incomes, high-cost ownership landscape, and proximity to major employers.
- Strong neighborhood occupancy supports leasing stability versus national peers
- Elevated ownership costs and high incomes reinforce rental demand and pricing power
- 1982 vintage offers value-add and capital planning opportunities to enhance competitiveness
- Access to nearby employers underpins commuter convenience and tenant retention
- Risks: amenity-light blocks and recent safety volatility warrant on-site management focus