| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Fair |
| Demographics | 51st | Fair |
| Amenities | 39th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 20 Crum Elbow Rd, Hyde Park, NY, 12538, US |
| Region / Metro | Hyde Park |
| Year of Construction | 1978 |
| Units | 81 |
| Transaction Date | 2024-02-15 |
| Transaction Price | $5,700,000 |
| Buyer | DEER MDW APT LLC |
| Seller | GOLDEN & GOLDEN BLDG INC |
20 Crum Elbow Rd Hyde Park Multifamily Opportunity
Neighborhood occupancy in Hyde Park is in the mid-90s, supporting stable rent rolls according to WDSuite’s CRE market data. Rents and incomes trend above national medians locally, pointing to steady renter demand rather than outsized growth.
Hyde Park’s neighborhood profile is rated B and ranks 86 out of 221 within the Poughkeepsie–Newburgh–Middletown metro, making it competitive among regional neighborhoods. Occupancy at the neighborhood level is above the national median, and the rent-to-income ratio trends favorable for lease retention, based on CRE market data from WDSuite.
Livability indicators are mixed. Parks and childcare access sit above national medians, while grocery options are roughly in line. Cafes and pharmacies are sparse, which may modestly limit walkable conveniences; however, this is typical for suburban nodes. Average school ratings in the area are below the national median, an item to consider for family-oriented leasing strategies.
The property’s 1978 vintage is newer than the neighborhood’s average construction year (1956), suggesting relative competitiveness versus older stock while still warranting targeted modernization and systems upgrades in capital plans. Median home values are elevated for the region, which can reinforce reliance on rental options and support pricing power without materially increasing affordability pressure.
Within a 3-mile radius, demographics indicate a stable population base with households expanding and household sizes trending smaller over time. This pattern typically enlarges the renter pool and supports occupancy stability for multifamily assets. Income levels have trended higher historically, which complements measured rent growth and supports a deeper tenant base rather than rapid turnover.
Comparable neighborhood-level crime statistics are not available in this release. For underwriting, investors typically benchmark against metro and statewide trends and corroborate with local public records and property-level incident logs.
Given the suburban context and stable occupancy in the area, many owners pair market data with site visits and discussions with local stakeholders to assess perceived safety, lighting, visibility, and late-hour activity patterns before finalizing assumptions.
Regional employers provide a diversified employment base that can support renter demand and commuting patterns for Hyde Park residents. The following nearby headquarters illustrates broader corporate presence affecting the labor pool.
- Praxair — industrial gases (33.9 miles) — HQ
20 Crum Elbow Rd offers scale at 81 units in a suburban Hyde Park location where neighborhood occupancy runs above national medians and household formation in the 3-mile trade area points to a larger tenant base ahead. According to CRE market data from WDSuite, rent levels and rent-to-income dynamics suggest manageable affordability pressure, which can aid retention and reduce leasing friction.
Built in 1978, the asset is newer than the neighborhood’s average vintage, providing a relative edge over older stock while still presenting value-add opportunities through targeted renovations and system modernization. Amenity access is balanced but not walkability-driven, which aligns the property more with auto-oriented renters; underwriting should account for family-leasing sensitivity to below-median school ratings and for potential competition from ownership in certain price bands.
- Stable neighborhood occupancy supports cash flow durability
- 1978 vintage offers value-add and modernization upside versus older local stock
- 3-mile household growth and smaller household sizes expand the renter pool
- Favorable rent-to-income dynamics bolster retention and pricing discipline
- Risks: suburban amenities are limited and school ratings below median may affect family leasing