| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 61st | Good |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 216 West Rd, Pleasant Valley, NY, 12569, US |
| Region / Metro | Pleasant Valley |
| Year of Construction | 1985 |
| Units | 20 |
| Transaction Date | 2024-05-24 |
| Transaction Price | $234,000 |
| Buyer | MONTERO MARRAN |
| Seller | ZANI DIANE C |
216 West Rd, Pleasant Valley NY Multifamily Investment
Neighborhood fundamentals point to steady renter demand and above-average occupancy stability, according to WDSuite’s CRE market data, supporting a hold-and-improve strategy for a 20-unit asset.
The property is in an A-rated suburban neighborhood within the Poughkeepsie–Newburgh–Middletown metro, ranked 19 out of 221 neighborhoods. That standing is competitive among metro peers and reflects balanced livability with access to grocery, parks, and daily services near the metro median nationally.
Occupancy in the neighborhood trends above national averages (national percentile in the low 70s), reinforcing near-term leasing stability for multifamily. The neighborhood’s renter-occupied share is 47.2% of housing units, indicating a meaningful renter concentration that supports a deeper tenant base and resilience across leasing cycles.
Home values in the neighborhood are elevated relative to many U.S. areas, while rent-to-income ratios near one-quarter suggest manageable affordability pressure. This combination can sustain renter reliance on multifamily housing and support retention, while still requiring active lease management to mitigate renewal risk.
Construction year matters for positioning: built in 1985, the asset is newer than the neighborhood’s average vintage (1955). That relative youth enhances competitive standing versus older stock and offers a pragmatic path for value-add through system modernization, interior updates, and exterior refreshes rather than heavy redevelopment.
Demographic statistics aggregated within a 3-mile radius point to modest recent population and household growth with further increases projected, expanding the local renter pool. Rising incomes in the area further support demand for well-managed, updated units, though investors should underwrite with discipline on rent levels relative to local incomes.
Safety indicators are mixed in a way investors should contextualize. Within the metro, the neighborhood’s crime rank sits closer to higher-crime areas (13 out of 221), warranting routine security and operations attention. Nationally, the neighborhood compares above average for safety (around the low 60s percentile), and property-related offenses benchmark favorably at a high national percentile, while recent violent-offense trends show some year-over-year volatility. Framing these together, policies that emphasize lighting, access control, and resident engagement can help sustain leasing stability.
Regional employment access supports renter demand, with proximity to industrial and corporate operations that broaden the commuter base, including Praxair in manufacturing and industrial gases.
- Praxair — industrial gases manufacturing (29.9 miles) — HQ
This 20-unit, 1985-vintage asset benefits from a renter-driven neighborhood with occupancy trending above national averages and a competitive metro rank. The property’s vintage is newer than local stock, suggesting a targeted value-add program—focused on interiors and systems—can lift rents while remaining competitive against older comparables. According to CRE market data from WDSuite, neighborhood NOI per unit benchmarks among the top cohorts metro-wide, aligning with an investment thesis centered on operational consistency and thoughtful upgrades.
Demand drivers are reinforced by a sizable share of renter-occupied housing at the neighborhood level and growing 3-mile demographic trends that expand the tenant base. Elevated local home values relative to incomes help sustain reliance on multifamily rentals, while rent-to-income ratios near one-quarter indicate manageable affordability pressure that can support retention when paired with disciplined renewal strategies. Risks to monitor include school quality below national medians, uneven amenity density, and mixed safety signals within the metro context.
- Neighborhood occupancy above national averages supports leasing stability
- 1985 vintage offers value-add and modernization upside versus older local stock
- Renter concentration and projected 3-mile growth expand the tenant base
- Elevated ownership costs bolster multifamily demand and retention potential
- Risk: mixed metro-relative safety and below-average school ratings require underwriting discipline