| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 64th | Good |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 Woodhills Dr, Goshen, NY, 10924, US |
| Region / Metro | Goshen |
| Year of Construction | 1974 |
| Units | 80 |
| Transaction Date | 2008-01-31 |
| Transaction Price | $15,085,000 |
| Buyer | CARRIAGE HILL APARTMENTS LLC |
| Seller | HOME PROPERTIES CARRIAGE HILL LLC |
500 Woodhills Dr, Goshen NY Multifamily Investment
Neighborhood fundamentals point to steady renter demand and competitive positioning relative to older local stock, according to CRE market data from WDSuite.
Located in Goshen within the Poughkeepsie–Newburgh–Middletown, NY metro, the neighborhood rates highly (A+) and ranks 4th among 221 metro neighborhoods, indicating performance that is competitive among regional peers. Amenity access trends above national averages, with cafes, restaurants, groceries, parks, and pharmacies all testing in the 70th–80th percentiles nationally, supporting day-to-day livability that helps with resident retention.
Renter demand signals are constructive. The share of housing units that are renter-occupied in the neighborhood is 51.4% (top decile nationally), suggesting a deep tenant base for multifamily. Neighborhood occupancy is reported at 87.3% and has edged higher over the last five years, but it sits below metro leaders, implying leasing strategy and renewal management remain important to sustain stability.
Within a 3-mile radius, population and household counts have expanded in recent years and are projected to continue growing, pointing to a larger tenant base ahead. Median contract rents at the neighborhood level sit in the upper national range, while rent-to-income ratios indicate manageable affordability pressure. Home values are elevated versus many U.S. areas, which can reinforce renter reliance on multifamily housing and support pricing power when paired with prudent lease management.
Vintage context matters: the average neighborhood construction year skews older (1931). A 1974 asset can compete well against this older stock, though investors should plan for ongoing systems updates or selective renovations to maintain positioning and capture value-add upside. NOI per unit levels in the area score in the mid‑80s nationally, signaling healthy income potential when operations are optimized, based on WDSuite s CRE market data.
Neighborhood-level crime statistics are not available in WDSuite for this area, so investors typically benchmark safety using county and metro sources and on-the-ground reviews. Consider comparing trends to the broader Poughkeepsie–Newburgh–Middletown metro to contextualize risk and align underwriting assumptions.
Regional employment is diversified across retail, healthcare, consumer goods, and financial services, offering a broad commuter base that can support renter demand and retention. Key nearby employers include Ascena Retail Group, Becton Dickinson, Toys "R" Us, Prudential Financial, and Airgas.
- Ascena Retail Group — retail apparel (24.5 miles) — HQ
- Becton Dickinson — medical technology (27.7 miles) — HQ
- Toys "R" Us — consumer products (29.7 miles) — HQ
- Prudential Financial — financial services (32.7 miles)
- Airgas Lincoln Park — industrial gases (33.7 miles)
500 Woodhills Dr is an 80‑unit multifamily property built in 1974, positioned in a neighborhood that ranks 4th of 221 across the metro and benefits from strong amenity access. The asset s vintage is newer than much of the surrounding housing stock, which can provide a competitive edge while still warranting targeted capital planning for aging systems. A renter‑occupied share near half of neighborhood units indicates a deep tenant base, and within a 3‑mile radius both population and households are projected to grow, supporting occupancy stability and future leasing.
Neighborhood occupancy trends have improved but remain below metro leaders, making operations and renewal strategy meaningful value drivers. Elevated home values relative to incomes tend to sustain multifamily demand, while rent-to-income readings suggest balanced affordability that can aid retention. Based on CRE market data from WDSuite, income performance in the area compares favorably at the neighborhood level, reinforcing the case for disciplined value‑add and operational optimization.
- Competitive neighborhood rank (4 of 221) with strong amenity access supports leasing and retention.
- 1974 vintage is newer than much of the area 27s stock, offering positioning upside with targeted system upgrades.
- Renter-occupied share around half and projected 3‑mile population and household growth expand the tenant base.
- Neighborhood-level income performance trends favorably, supporting NOI potential with effective management.
- Risk: neighborhood occupancy lags metro leaders; performance depends on leasing execution and capital planning.