| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 37th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 29 Forbus St, Poughkeepsie, NY, 12601, US |
| Region / Metro | Poughkeepsie |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
29 Forbus St Poughkeepsie Multifamily Investment
Neighborhood occupancy is strong for stabilized assets, with the area posting a 95.6% rate according to WDSuite’s CRE market data, supporting durable renter demand for a 24-unit property. The location’s everyday amenities add stickiness for tenants and can aid retention.
Located in an Inner Suburb pocket of Poughkeepsie, the neighborhood is rated A and ranks 20th out of 221 metro neighborhoods, indicating competitive positioning within the Poughkeepsie-Newburgh-Middletown region. Occupancy in the neighborhood is top quartile nationally and competitive among metro peers (rank 84 of 221), a positive indicator for income stability.
Everyday convenience is a clear strength: grocery access ranks near the top of the metro (rank 2 of 221) and restaurants are particularly dense (rank 1 of 221; 99th percentile nationally). Cafes, childcare, and pharmacies also score high relative to the region, reinforcing day-to-day livability that helps with leasing and renewals.
The housing stock skews older across the neighborhood, while this property’s 1978 vintage is newer than the area average. That positioning can be competitive versus prewar inventory, though investors should still plan for targeted system updates or modernization to protect NOI.
Renter concentration is elevated (about 59% of housing units are renter-occupied; rank 14 of 221), pointing to a deeper tenant base for multifamily. Within a 3-mile radius, recent population and household growth have expanded the local renter pool, and projections indicate additional household gains by 2028, which supports occupancy and leasing velocity. Median home values sit around the metro middle with a relatively high value-to-income ratio (78th percentile nationally), a context that tends to sustain reliance on rental housing and can support pricing power when managed carefully.
School ratings in the neighborhood trail metro and national norms, and park access is limited, which may matter for certain tenant profiles. Investors can offset with unit-level improvements and by emphasizing proximity to daily services and employment corridors.
Safety indicators are mixed. Relative to the metro, the neighborhood’s overall crime rank is low (rank 7 of 221), signaling a higher-crime position versus many local peers. Nationally, broader safety metrics land around upper-middle percentiles, and recent data show year-over-year declines in violent incidents, which is a constructive trend.
For underwriting, a conservative approach to insurance, security, and lighting is prudent, while monitoring continued improvement trends can inform future operating assumptions. Comparing against submarkets across the Poughkeepsie-Newburgh-Middletown metro helps frame realistic leasing expectations.
Regional employment anchors within commuting range help support workforce rental demand, including corporate offices for Praxair, PepsiCo, and IBM. Proximity at this scale can aid retention for tenants with stable white-collar employment.
- Praxair — corporate offices (29.3 miles) — HQ
- PepsiCo — corporate offices (41.4 miles)
- IBM — corporate offices (41.8 miles) — HQ
29 Forbus St offers a 24-unit footprint in a neighborhood with competitive occupancy and strong daily conveniences that support tenant retention. Based on CRE market data from WDSuite, the area’s occupancy outperforms many metro peers, while an elevated share of renter-occupied housing indicates depth in the tenant base.
The 1978 vintage is newer than much of the surrounding stock, providing a competitive edge versus older properties, though investors should plan for targeted modernization to sustain pricing power. Within a 3-mile radius, recent and projected household growth points to a larger renter pool by 2028, and a relatively high value-to-income landscape supports continued reliance on multifamily housing.
- Competitive neighborhood standing with top-quartile occupancy nationally and strong metro placement
- Elevated renter concentration supports demand depth and leasing stability
- 1978 vintage offers relative competitiveness versus older stock with value-add via targeted upgrades
- 3-mile household growth and everyday amenities reinforce tenant retention and rent momentum
- Risks: below-average school ratings, limited park access, and above-metro crime rank warrant conservative underwriting