| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Good |
| Demographics | 54th | Fair |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8840 161st St, Jamaica, NY, 11432, US |
| Region / Metro | Jamaica |
| Year of Construction | 2006 |
| Units | 81 |
| Transaction Date | 2004-07-23 |
| Transaction Price | $3,200,000 |
| Buyer | 84-34 161 STREET PROPERTY LLC |
| Seller | ALLIED BUILDERS AND CONSTRUCTION CORP |
8840 161st St Jamaica NY Multifamily Investment
Positioned in an A- rated urban-core neighborhood with strong amenities and a high-cost ownership landscape that supports renter demand, according to WDSuite’s CRE market data. The 2006 vintage offers a competitive alternative to older local stock, with fundamentals geared toward occupancy stability.
This Jamaica address sits in an Urban Core pocket that ranks within the top quartile among 889 New York–Jersey City–White Plains metro neighborhoods for overall neighborhood quality (A-), per WDSuite. Amenity access is a clear strength: restaurants, parks, pharmacies, and groceries all score well on national comparisons, helping sustain day-to-day convenience and leasing appeal.
Home values in the neighborhood are elevated relative to national benchmarks, which typically reinforces reliance on multifamily housing and supports pricing power for well-located rentals. At the same time, neighborhood rents trend high nationally, but the rent-to-income profile indicates manageable affordability pressure for many households—an investor positive for retention and collections.
Within a 3-mile radius, demographic statistics show a broadly stable population with growth in households and rising incomes over the past five years. Projections also point to further household increases alongside smaller average household sizes, expanding the renter pool and supporting occupancy. Renter-occupied unit share near the 3-mile area’s midpoint signals a deep tenant base without overconcentration, aiding turnover management and leasing velocity.
Vintage context matters: the neighborhood’s housing stock skews older on average, while this property’s 2006 construction provides relative competitive positioning against prewar inventory. Investors should still plan for mid-life system updates and potential modernization to maintain differentiation and capture value-add upside.
Safety performance is mixed in a comparative context. The neighborhood is competitive among New York–area neighborhoods, yet it underperforms national benchmarks, indicating higher-than-average incident rates compared with many U.S. neighborhoods. According to WDSuite’s data, recent trends show year-over-year improvement in property offenses, while violent offense measures have been comparatively stable. Investors should underwrite prudent security, lighting, and access-control measures and monitor trend direction rather than single-year readings.
The location benefits from proximity to a diverse employment base that supports renter demand and commute convenience, including Prudential, JetBlue Airways, Pfizer, Lockheed Martin, and TIAA.
- Prudential — financial services (3.98 miles)
- Jetblue Airways — airline operations (7.59 miles) — HQ
- Pfizer — pharmaceuticals (9.26 miles) — HQ
- Lockheed Martin — defense & aerospace offices (9.29 miles)
- TIAA — financial services (9.36 miles) — HQ
8840 161st St is an 81-unit, 2006-built asset in an A- rated, amenity-rich Jamaica location. The property’s vintage compares favorably to the neighborhood’s older housing stock, which helps leasing competitiveness while leaving room for targeted modernization and common-area upgrades to drive rents. Within a 3-mile radius, stable population, increasing household counts, and rising incomes imply a larger tenant base and support occupancy durability. Elevated neighborhood home values suggest a high-cost ownership market, which can sustain multifamily demand and bolster lease retention.
Occupancy at the neighborhood level has trended upward over the past five years and sits around the metro middle, according to CRE market data from WDSuite. Amenity density and strong employer access further underpin demand, while investors should account for safety metrics that trail national benchmarks and plan active property management to protect performance.
- 2006 construction outperforms older local stock; plan mid-life system updates for continued competitive positioning.
- High-cost ownership environment supports renter reliance on multifamily and pricing power for quality units.
- 3-mile demographics show rising households and incomes, expanding the renter pool and supporting occupancy stability.
- Amenity-rich setting and proximity to major employers aid leasing velocity and retention.
- Risk: Safety metrics lag national norms; underwrite security, lighting, and active management.