| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 60th | Good |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 28 Stoneridge Rd, Middletown, NY, 10941, US |
| Region / Metro | Middletown |
| Year of Construction | 1973 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
28 Stoneridge Rd Middletown NY Multifamily Investment
Neighborhood fundamentals point to durable renter demand and high occupancy stability, according to WDSuite s CRE market data. The area s renter base and income profile support steady leasing while leaving room for targeted value-add execution.
Located in Middletown s Inner Suburb, the neighborhood carries an A rating and ranks 32 out of 221 metro neighborhoods, making it competitive among Poughkeepsie Newburgh Middletown submarkets. Neighborhood-level occupancy is at the top of metro peers and sits in the top quartile nationally, signaling strong absorption and reduced downtime risk for comparable assets (neighborhood statistics, not property-specific).
Renter-occupied housing comprises a meaningful share of local units (55%+ renter concentration at the neighborhood level), indicating a deep tenant pool for multifamily and supporting demand stability. Median rent levels benchmark above many peer areas while the neighborhood rent-to-income ratio around one-fifth suggests manageable affordability pressure that can aid lease retention and pricing discipline.
Livability is service-driven: grocery and pharmacy access ranks well within the metro and in higher national percentiles, while caf e9 and park density is limited. For investors, this mix typically supports day-to-day convenience and resident retention even if lifestyle amenities are more dispersed. School ratings were not available in the dataset reviewed.
Within a 3-mile radius, population and households have expanded over the past five years, with forecasts pointing to continued population growth and a larger household count alongside gradually smaller average household sizes. For multifamily owners, that combination tends to expand the renter pool and can support occupancy stability and steady leasing velocity going forward, based on CRE market data from WDSuite.
Construction in the immediate area skews late-1970s on average; the subject s 1973 vintage is somewhat older than nearby stock, which can create value-add potential through selective renovations and modernization, balanced by prudent capital planning for building systems.
Comparable, neighborhood-level crime statistics were not available in the WDSuite dataset for this location. Investors may wish to review city and county trend reports, police blotter summaries, or third-party indices to contextualize safety at the broader Middletown and Orange County levels while aligning on property-level risk management measures.
Regional employment access is supported by a mix of corporate offices within commuting range, which can underpin renter demand and retention. Notable nearby employers include Ascena Retail Group, Becton Dickinson, Toys 22R 22 Us, Prudential Financial, and Airgas.
- Ascena Retail Group apparel retail (28.8 miles) HQ
- Becton Dickinson medical technology (32.1 miles) HQ
- Toys 22R 22 Us toy retail (34.1 miles) HQ
- Prudential Financial financial services (37.0 miles)
- Airgas Lincoln Park industrial gases (38.0 miles)
This 40-unit asset s thesis rests on neighborhood occupancy strength, a sizable renter-occupied base, and a service-rich retail mix that supports daily needs. The submarket ranks competitively within the metro, and household growth within a 3-mile radius points to a larger tenant base over time. With a 1973 construction year, the property is slightly older than the area s late-1970s average, opening avenues for targeted renovations and system upgrades to enhance positioning and NOI, while budgeting for capital items.
Homeownership costs in the area are elevated relative to local incomes, reinforcing reliance on multifamily and supporting lease retention. At the same time, WDSuite s commercial real estate analysis indicates neighborhood-level occupancy outperforms peers, and income performance indicators for comparable properties are competitive versus metro norms. Forward-looking household expansion and smaller household sizes suggest steady renter pool expansion, even as amenity density is mixed and rent growth may be patchy near term.
- Strong neighborhood occupancy and deep renter-occupied base support leasing stability (neighborhood metrics, not property-specific).
- Service-oriented retail access (grocers, pharmacies) aids retention despite thinner caf e9/park density.
- 1973 vintage provides value-add potential via targeted unit and systems modernization with prudent capex planning.
- 3-mile population and household growth expands the tenant base and supports occupancy over time.
- Risks: mixed lifestyle amenity density and potential near-term rent softness require disciplined leasing and expense control.