| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Good |
| Demographics | 78th | Best |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 600 Spring Manor Cir, Poughkeepsie, NY, 12601, US |
| Region / Metro | Poughkeepsie |
| Year of Construction | 2004 |
| Units | 88 |
| Transaction Date | 2003-05-29 |
| Transaction Price | $1,200,000 |
| Buyer | SPRING APARTMENTS LLC |
| Seller | SAINT FRANCIS HOSPITAL |
600 Spring Manor Cir Poughkeepsie Multifamily Investment
2004-vintage, 88-unit asset in an inner-suburban pocket where neighborhood occupancy is competitive versus the metro, according to WDSuite’s CRE market data. The combination of a sizable renter base and steady local services supports durable cash flow potential.
Positioned in an Inner Suburb of Poughkeepsie-Newburgh-Middletown, the property benefits from neighborhood fundamentals that are competitive among the metro’s 221 neighborhoods. Neighborhood occupancy is in the upper tier locally (ranked 73 of 221), and WDSuite places it in a strong national position as well (around the upper quintiles), which generally supports lease stability. The local renter-occupied share is about half of housing units (ranked 29 of 221), indicating a deep tenant base relative to many metro peers.
Everyday amenities are accessible: cafes and grocery options score above metro medians (cafe density ranked 24 of 221; grocery ranked 39 of 221) and land in higher national percentiles. Pharmacies also test well above average nationally. By contrast, parks and dedicated childcare options under-index in this immediate neighborhood, which investors may consider when calibrating family-oriented demand or amenity programming.
Schools are a local strength. Average school ratings land in the top tier in the metro (ranked 6 of 221) and the top quartile nationally, supporting appeal for households prioritizing education. Median contract rents in the neighborhood sit near the national mid-to-upper range, while rent-to-income metrics indicate manageable affordability pressure, which can aid retention and reduce lease churn.
Within a 3-mile radius, WDSuite’s data shows population growth in recent years with households increasing and average household size trending modestly smaller. This points to a larger tenant base and more renters entering the market. Median incomes have risen, reinforcing capacity to absorb moderate rent growth. Relative to an older local housing stock (average vintage 1962 in the neighborhood), a 2004 build positions this property as newer and more competitive than much of the nearby inventory, though periodic system updates and modernization can still be prudent for positioning.
Comparable neighborhood-level safety metrics are not available in WDSuite’s current release for this location. Investors typically benchmark neighborhood crime trends against metro and county data and incorporate on-the-ground diligence to gauge resident perceptions and property-level security needs.
A practical approach is to evaluate multi-year, area-wide trends, inspect site lines and lighting, and align operating plans (access control, cameras, and staffing) with resident expectations observed at competitive properties in the submarket.
Regional corporate employers within commuting range support renter demand through diversified white-collar and operations roles. Notable nearby offices include industrial gases, food & beverage, technology, apparel retail, and consumer finance groups listed below.
- Praxair — industrial gases (28.7 miles) — HQ
- PepsiCo — food & beverage (40.3 miles)
- IBM — technology (40.8 miles) — HQ
- Ascena Retail Group — apparel retail (43.6 miles) — HQ
- Synchrony Financial — consumer finance (44.4 miles) — HQ
Built in 2004, this 88-unit community is newer than much of the surrounding housing stock, giving it an edge versus older assets while leaving room for targeted modernization to sustain competitiveness. Neighborhood occupancy ranks competitive among the metro’s 221 neighborhoods, and the local renter-occupied share is sizable, indicating a solid pool of prospective tenants. Within a 3-mile radius, WDSuite reports population and household growth with smaller household sizes, which typically expands the renter pool and supports occupancy stability. Home values in the immediate area are comparatively accessible in a national context, which can introduce some competition from ownership options, but rising incomes and steady service amenities help sustain multifamily demand.
According to CRE market data from WDSuite, rents and rent-to-income dynamics are balanced enough to support retention while allowing for measured increases tied to unit quality. Given the property’s vintage, investors can evaluate light value-add (interiors, common areas, and systems tune-ups) to enhance positioning against older comparables without overcapitalizing.
- Newer 2004 construction offers competitive positioning versus older neighborhood stock with selective upgrade potential
- Competitive neighborhood occupancy and sizable renter-occupied share support leasing stability
- 3-mile growth in population and households points to a larger tenant base and supports future absorption
- Local amenities and strong school ratings enhance livability and broaden appeal to diverse renter profiles
- Risk: relatively accessible ownership options may compete with rentals; prudent pricing and value-add execution are key