| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 61st | Good |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 33 Spring Creek Dr, Pleasant Valley, NY, 12569, US |
| Region / Metro | Pleasant Valley |
| Year of Construction | 1990 |
| Units | 34 |
| Transaction Date | 2017-01-03 |
| Transaction Price | $3,550,000 |
| Buyer | Kirchhott-Consigli Construction |
| Seller | Humbert V Maggiacomo |
33 Spring Creek Dr Pleasant Valley Multifamily Investment
Neighborhood occupancy around the property remains resilient and renter demand is supported by a meaningful renter-occupied share, according to WDSuite s CRE market data. With stable fundamentals in a suburban Dutchess County location, the asset s income profile benefits from steady leasing conditions.
The surrounding neighborhood rates in the top quartile among 221 Poughkeepsie Newburgh Middletown metro neighborhoods (A rating), signaling competitive livability and investment appeal for workforce and middle-income renters. Occupancy in the neighborhood is strong and has held near the mid-90s, supporting income stability for professionally managed assets. Average net operating income per unit in the neighborhood ranks among the strongest in the metro, indicating historically favorable operating performance relative to peers, based on CRE market data from WDSuite.
At a 47.2% share of renter-occupied housing units, the neighborhood offers a meaningful tenant base, which helps leasing velocity and renewal depth during typical turnover cycles. Within a 3-mile radius, recent increases in both population and household counts point to a larger tenant pool over time; forward-looking projections show continued growth, which supports occupancy stability and rent durability for well-located multifamily.
Local amenities are serviceable for suburban living: grocery and pharmacy access track slightly above national medians, parks availability sits around the 70th percentile nationally, and restaurants are present though cafés are limited. School ratings average on the lower side, which may influence unit mix performance for family-oriented renters; investors can offset this with competitive unit features and management focus on retention.
Home values in the area are elevated relative to many national markets, while rent-to-income levels remain manageable. This dynamic tends to sustain reliance on rental housing and can support pricing power without materially increasing retention risk, provided operators maintain value relative to alternatives.
Safety indicators are mixed and should be viewed in context. Compared with 221 metro neighborhoods, the area s crime rank sits toward the lower-numbered end of the list, which indicates comparatively higher crime relative to some metro peers. However, when viewed against neighborhoods nationwide, overall safety trends land modestly above the national middle, and property-related offenses benchmark in a high national percentile, suggesting comparatively favorable conditions at the national scale.
Year-over-year signals show improvement in property offenses but a recent uptick in violent offense measures. For underwriting, this argues for prudent security and tenant-screening protocols rather than a change in thesis; investors should monitor trend direction at renewal cycles and coordinate with management to maintain on-site controls.
Regional employment access includes manufacturing and industrial gases, providing diversified job anchors that can support renter demand and commute convenience for residents.
- Praxair industrial gases & manufacturing (29.8 miles) HQ
Built in 1990, the 34-unit property is newer than much of the area s housing stock, which skews mid-century. That vintage positioning can reduce near-term systems capex versus older comparables while preserving value-add potential through contemporary interior upgrades and common-area improvements. Neighborhood occupancy remains strong and NOI performance ranks among the metro s leaders, pointing to durable income fundamentals for well-operated assets.
Within a 3-mile radius, population and household growth expand the renter pool, while a sizable share of renter-occupied units at the neighborhood level supports demand depth and renewal stability. According to CRE market data from WDSuite, local amenity access is solid for a suburban setting, and elevated ownership costs relative to rents help sustain reliance on multifamily housing. Key risks include mixed school ratings, limited café density, and safety metrics that warrant ongoing monitoring.
- 1990 vintage offers competitive positioning versus older stock with clear value-add paths
- Strong neighborhood occupancy and top-tier NOI performance support income durability
- Growing 3-mile renter pool underpins leasing velocity and renewal depth
- Elevated ownership costs reinforce demand for rental housing and pricing power
- Risks: mixed school ratings, limited café density, and safety trends that merit monitoring