| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 30th | Poor |
| Amenities | 46th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 51 Creek Rd, Poughkeepsie, NY, 12601, US |
| Region / Metro | Poughkeepsie |
| Year of Construction | 1986 |
| Units | 116 |
| Transaction Date | 2008-06-17 |
| Transaction Price | $10,200,000 |
| Buyer | COLONIAL MANOR APARTS INC |
| Seller | COLONIAL MANOR CONDOMINIU |
51 Creek Rd, Poughkeepsie NY Multifamily Investment
Renter demand is supported by a high neighborhood renter concentration and steady occupancy, according to WDSuite s CRE market data, positioning this asset for durable leasing in a high-cost ownership market.
The property sits in an Inner Suburb location of Poughkeepsie where neighborhood occupancy trends remain steady and above many national peers, supporting income stability for multifamily investors. The neighborhood s renter-occupied share is high (ranked 7th among 221 metro neighborhoods), signaling a deep tenant base and resilient leasing fundamentals relative to the Poughkeepsie-Newburgh-Middletown metro.
Local livability drivers are balanced: parks and pharmacies are comparatively dense (around the upper quartile nationally), while grocery access is competitive among metro peers. Restaurant density tracks near national mid-range, though cafe and childcare density is limited. Average school ratings trend below national mid-range, which may influence family-oriented leasing strategies more than young-adult demand.
Ownership costs are elevated relative to local incomes (value-to-income metrics rank in the upper range nationally), which tends to sustain reliance on rental housing and supports pricing power for well-positioned units. At the same time, neighborhood rent-to-income levels sit closer to national norms, suggesting manageable affordability pressure and potential for stable retention with disciplined lease management.
Within a 3-mile radius, demographics show population and household growth over the last five years, with projections indicating further renter pool expansion. Household sizes are trending smaller, which can favor professionally managed apartments through increased demand for smaller formats and flexible lease terms. These dynamics collectively point to durable multifamily demand, based on CRE market data from WDSuite, while still rewarding thoughtful unit mix and amenity programming.
Safety signals are mixed and should be evaluated in context. Compared with 221 neighborhoods across the Poughkeepsie-Newburgh-Middletown metro, crime ranks indicate relatively higher incident levels in this neighborhood. Nationally, however, the area trends closer to mid-to-better ranges, with overall crime and property-related indicators comparing more favorably than many neighborhoods nationwide.
Recent movement varies by category: estimates point to a year-over-year decrease in property offenses, while violent-offense estimates increased over the same period. For underwriting, this pattern argues for prudent security planning and tenant-experience measures, while recognizing that metro-to-national comparisons can differ.
Regional employment anchors within commuting range help support renter demand, particularly for households prioritizing stable paychecks and access to corporate campuses. Notable employers include Praxair, PepsiCo, and IBM.
- Praxair 4 industrial gases (29.98 miles) 4 4 HQ
- PepsiCo 4 food & beverage (42.93 miles)
- IBM 4 technology & services (43.26 miles) 4 HQ
Built in 1986, this 116-unit asset is materially newer than much of the surrounding housing stock, which skews early 20th century. The vintage can offer a competitive edge versus older product while still warranting targeted modernization to enhance rent position and reduce near-term capital exposure. Neighborhood occupancy is stable and renter concentration is high, supporting a durable tenant base and potential lease retention. According to CRE market data from WDSuite, the local ownership market carries elevated home values relative to incomes, reinforcing reliance on rental housing and supporting pricing power for well-managed units.
Within a 3-mile radius, recent growth in population and households, along with a projected increase over the next five years, suggests a larger renter pool ahead. Smaller average household sizes point to demand for professionally managed apartments and efficient unit types. Counterbalancing factors include below-average school ratings and mixed safety trends, arguing for thoughtful amenity, security, and marketing strategies tailored to workforce renters and commuters.
- 1986 vintage offers competitive positioning versus older local stock, with selective value-add potential
- High neighborhood renter-occupied share supports deep tenant demand and leasing stability
- Elevated ownership costs sustain renter reliance, aiding pricing power for quality units
- 3-mile radius shows population and household growth, pointing to renter pool expansion
- Risks: mixed safety trends and lower school ratings require prudent security and leasing strategy