| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 76th | Best |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7 Fortune Rd W, Middletown, NY, 10941, US |
| Region / Metro | Middletown |
| Year of Construction | 2013 |
| Units | 78 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
7 Fortune Rd W Middletown Multifamily Investment Opportunity
Neighborhood fundamentals point to stable renter demand and high occupancy, according to WDSuite’s CRE market data, with a renter-occupied share that supports consistent leasing. This positioning favors durable income while allowing for selective upgrades to enhance competitiveness.
The immediate area benchmarks as top quartile among 221 metro neighborhoods with an A neighborhood rating, indicating competitive location fundamentals for multifamily. Neighborhood occupancy stands high and is measured for the neighborhood (not this property), supporting income stability and reducing lease-up risk.
Amenity access trends favor daily convenience: grocery and restaurant densities track above national averages, with cafes also competitive. However, nearby parks and pharmacies are limited, which may modestly affect resident lifestyle preferences. On balance, this mix suits workforce renters who prioritize proximity to essentials and commuting access.
Renter-occupied housing accounts for roughly 60.6% of units in the neighborhood, signaling a deep tenant base and consistent multifamily demand. Median contract rents in the neighborhood align with mid-market positioning, while a rent-to-income ratio near 0.19 suggests manageable affordability from an investor standpoint that can aid retention and reduce turnover friction.
Within a 3-mile radius, demographics indicate recent population growth with further expansion projected, alongside a rising household count and slightly smaller average household sizes. These shifts point to a larger tenant pool and steady demand for rental units, a constructive backdrop for multifamily performance. Based on commercial real estate analysis from WDSuite, the submarket’s renter pool expansion supports occupancy resilience relative to broader metro trends.
Safety metrics trend favorable in comparative context. The neighborhood’s property offense profile sits in the top decile nationally, and violent offense measures are in the top quartile nationally (both compared to neighborhoods nationwide), indicating relatively safer conditions versus many U.S. peers. Recent data also shows a modest year-over-year improvement in property offenses. These are neighborhood-level indicators and may not reflect block-by-block variation.
Regional employers with corporate offices within commuting distance help underpin renter demand and retention, particularly among workforce households. Employers include Ascena Retail Group, Becton Dickinson, Toys “R” Us, Prudential Financial, and Airgas.
- Ascena Retail Group — apparel retail corporate offices (29.5 miles) — HQ
- Becton Dickinson — medical technology corporate offices (32.7 miles) — HQ
- Toys “R” Us — toy retail corporate offices (34.6 miles) — HQ
- Prudential Financial — financial services corporate offices (37.6 miles)
- Airgas Lincoln Park — industrial gases corporate offices (38.5 miles)
Built in 2013, this 78-unit property is newer than the neighborhood’s average vintage and should remain competitive versus older stock, with potential to capture premiums through selective modernization as systems age. Neighborhood-level occupancy is elevated and the renter concentration is substantial, both supportive of income durability and lease-up efficiency for comparable assets. According to CRE market data from WDSuite, the area’s rent-to-income positioning suggests manageable affordability, which can help sustain retention while leaving room for operational optimization.
Within a 3-mile radius, recent population and household growth, along with projections for further expansion, indicate a larger tenant base over the medium term. Amenity access is favorable for daily needs (groceries, dining, cafes), though limited parks and pharmacies may influence certain renter segments. Ownership costs are relatively accessible in the broader area, which can increase competition from for-sale options; disciplined pricing and amenity upgrades can help preserve occupancy and renewal rates.
- 2013 vintage offers competitive positioning versus older stock, with value-add potential via targeted updates.
- Strong neighborhood occupancy and sizable renter-occupied share support leasing stability.
- Growing 3-mile population and households expand the tenant pool and support long-run demand.
- Daily-needs amenities are accessible, aiding retention for workforce renters.
- Risks: limited parks/pharmacies nearby and some competition from homeownership require careful amenity and pricing strategy.