| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 60th | Good |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38 Stoneridge Rd, Middletown, NY, 10941, US |
| Region / Metro | Middletown |
| Year of Construction | 1973 |
| Units | 41 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
38 Stoneridge Rd Middletown Multifamily Investment
Neighborhood occupancy has been exceptionally stable and renter demand is deep, according to WDSuite’s CRE market data, supporting income consistency for well-managed assets. This analysis references neighborhood metrics (not property-level operations) and focuses on demand drivers and livability factors relevant to long-term performance.
The property sits in Middletown’s Inner Suburb area within the Poughkeepsie–Newburgh–Middletown metro, where the neighborhood is rated A and ranks 32 out of 221 neighborhoods—competitive locally and in the top quartile nationally by composite performance. According to WDSuite’s commercial real estate analysis, neighborhood occupancy is at 100.0% (ranked 1 of 221; top nationally), signaling durable renter demand and supporting leasing stability for nearby multifamily assets.
Daily-needs access is a relative strength: grocery and pharmacy density rank 25 and 20 of 221 metro neighborhoods, with national percentiles near the upper end of the distribution. Dining options are reasonably represented (restaurant density rank 33 of 221), while lifestyle amenities such as cafes, parks, and childcare are limited in the immediate area, which places more weight on in-unit features and on-site conveniences to support retention.
Tenure dynamics favor multifamily: 55.4% of housing units are renter-occupied (rank 22 of 221; high nationally), indicating a broad tenant base and steady leasing funnel. Median contract rent at the neighborhood level trends above national norms, while the rent-to-income ratio around 0.20 suggests manageable affordability pressure that can aid retention and reduce turnover volatility.
Within a 3-mile radius, demographics show population growth over the past five years alongside a notable increase in households, expanding the local renter pool. Forward-looking projections indicate further population and household growth with smaller average household sizes, which can translate into sustained demand for smaller-unit product and support occupancy stability over time.
Vintage considerations: the asset’s 1973 construction is slightly older than the neighborhood’s average vintage (1979). Investors should plan for targeted capital improvements and potential value-add upgrades to enhance competitiveness versus newer stock, particularly in unit interiors and building systems.
Comparable safety context at the neighborhood level is important for underwriting, but crime ranks and rates are not available for this neighborhood in the WDSuite dataset. Investors typically benchmark conditions against nearby Middletown subareas and the broader Poughkeepsie–Newburgh–Middletown metro, supplementing with local enforcement data and property-level measures (lighting, access control, and resident policies) to assess risk and retention implications.
Regional employment is diversified across retail headquarters, medical technology, financial services, and industrial gases, supporting commuter demand and lease retention for workforce-oriented properties in Middletown.
- Ascena Retail Group — apparel retail HQ (28.9 miles) — HQ
- Becton Dickinson — medical technology (32.2 miles) — HQ
- Toys "R" Us — toy retail HQ (34.1 miles) — HQ
- Prudential Financial — financial services (37.0 miles)
- Airgas Lincoln Park — industrial gases (38.1 miles)
This 41-unit, 1973-vintage asset benefits from a neighborhood with exceptionally tight occupancy (ranked 1 of 221 metro neighborhoods) and a high concentration of renter-occupied housing, which together point to depth of demand and leasing stability. Daily-needs access is solid—grocery, pharmacy, and restaurants compare well within the metro—while limited lifestyle amenities put a premium on operational execution and in-unit features to drive retention. Based on CRE market data from WDSuite, local rent levels sit above national norms yet align with income profiles that keep rent-to-income readings around 0.20, supporting balanced affordability and pricing discipline.
Demographic trends within a 3-mile radius show recent population and household growth with projections for further expansion and smaller household sizes, reinforcing the case for sustained demand for smaller-format apartments. The 1973 vintage introduces potential value-add and capex planning opportunities to sharpen competitiveness versus newer product, while forecasts indicating potential rent softness in the broader area underscore the importance of asset-specific upgrades and amenity strategy to preserve occupancy and cash flow.
- Neighborhood occupancy at the top of the metro supports leasing stability and renewal potential.
- High renter-occupied share indicates a broad tenant base and durable multifamily demand.
- Daily-needs access (grocery/pharmacy) is a relative strength; operations can offset limited lifestyle amenities.
- 1973 vintage offers value-add and targeted capex paths to enhance competitiveness and income.
- Risks: limited nearby lifestyle amenities and potential rent softness in forecasts require focused retention and pricing strategy.