| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 43rd | Poor |
| Amenities | 91st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2 Wenliss Ter, Wappingers Falls, NY, 12590, US |
| Region / Metro | Wappingers Falls |
| Year of Construction | 1989 |
| Units | 47 |
| Transaction Date | 2011-02-01 |
| Transaction Price | $5,700,000 |
| Buyer | Antonio Velardo Inc. |
| Seller | Red Head Properties LLC |
2 Wenliss Ter Wappingers Falls Multifamily Investment
Neighborhood fundamentals point to durable renter demand and steady occupancy, according to WDSuite s CRE market data, with amenity access and a strong renter-occupied base supporting leasing stability.
Located in the Poughkeepsie Newburgh Middletown metro, the neighborhood surrounding 2 Wenliss Ter ranks among the top performers locally (6th of 221 neighborhoods; A+ rating), indicating strong location fundamentals for multifamily. Amenity access is a clear strength, with restaurants, cafes, groceries, parks, and pharmacies placing in high national percentiles, supporting convenience and day-to-day livability that can aid retention.
Occupancy in the neighborhood has held in the mid-90s in recent years and is competitive among Poughkeepsie Newburgh Middletown neighborhoods (rank 67 of 221), signaling demand resilience for professionally managed rentals. Approximately two-thirds of neighborhood housing units are renter-occupied (rank 5 of 221), which indicates a deep tenant base and helps support leasing continuity through cycles.
The property s 1989 vintage is newer than the area s older housing stock (average vintage 1941; rank 152 of 221), positioning it competitively versus legacy assets while still leaving room for targeted modernization (common areas, unit finishes, and building systems) to drive rent and retention. Median home values in the neighborhood are elevated relative to incomes (value-to-income ratio in a high national percentile), which typically sustains rental reliance and supports pricing power for well-managed apartments.
Within a 3-mile radius, demographics from WDSuite show recent population growth alongside a faster increase in households and a trend toward smaller household sizes. This combination points to a gradually expanding renter pool and supports occupancy stability. Neighborhood-level median contract rents sit in a middle range for the region, and rent-to-income levels suggest moderate affordability pressure a consideration for lease management and renewal strategies.
Neighborhood-level crime reporting was not available in WDSuite for this location at the time of publication. Investors typically benchmark conditions against metro and county trends and review multi-year patterns from local agencies to contextualize safety when underwriting leasing durability and operating practices.
- Praxair industrial gases (24.3 miles) HQ
- PepsiCo consumer goods (34.5 miles)
- IBM technology & corporate offices (35.0 miles) HQ
- Ascena Retail Group apparel retail (38.4 miles) HQ
- Synchrony Financial financial services (38.8 miles) HQ
This 47-unit, 1989-vintage asset benefits from a high-performing neighborhood where amenity access and a substantial renter-occupied share support consistent demand. The property s relatively newer vintage versus the area s older stock creates a competitive positioning for operations today, with value-add potential through selective renovations and system upgrades. According to CRE market data from WDSuite, neighborhood occupancy has been strong and rental pricing sits in a middle band regionally, which can balance lease-up velocity with renewal capture.
Within a 3-mile radius, recent population growth and a faster rise in households point to a larger tenant base ahead, and WDSuite s outlook indicates rents are expected to trend higher over the next several years. Elevated ownership costs relative to incomes in the neighborhood further reinforce reliance on multifamily housing, supporting long-run demand and pricing power for well-managed communities.
- Strong neighborhood positioning (6th of 221) with top-tier amenities that support retention
- Mid-90s occupancy and deep renter-occupied base bolster leasing stability
- 1989 vintage offers competitive footing plus value-add upside via modernization
- Expanding 3-mile household counts point to a growing renter pool and sustained demand
- Risk: affordability pressure requires disciplined rent setting and renewal strategies