| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 49th | Fair |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 700 Stratford Ln, Middletown, NY, 10940, US |
| Region / Metro | Middletown |
| Year of Construction | 1973 |
| Units | 24 |
| Transaction Date | 2008-06-02 |
| Transaction Price | $550,000 |
| Buyer | TRIFARI ENTERPRISES LLC |
| Seller | SCHOENFELD MARION MARGOT |
700 Stratford Ln Middletown NY 24-Unit Multifamily
Neighborhood occupancy is 94.6% and renter-occupied housing is 37.2% in this Middletown area, signaling a stable tenant base according to WDSuite’s CRE market data. Positioned in an inner-suburb pocket with steady renter demand, the asset benefits from durable suburban fundamentals.
This property sits in an Inner Suburb neighborhood of Middletown that is competitive among Poughkeepsie–Newburgh–Middletown neighborhoods (ranked 56 out of 221 with an A- rating). According to CRE market data from WDSuite, neighborhood occupancy stands at 94.6% with a positive multi‑year trend, which supports lease-up predictability and retention for multifamily owners. Note: these occupancy metrics reflect the neighborhood, not this specific property.
Livability indicators are mixed but serviceable for workforce renters. Grocery and pharmacy access track above the metro median, while cafes, parks, and childcare are comparatively limited, suggesting day-to-day convenience without a dense amenity corridor. Median contract rents in the neighborhood sit near the metro middle while trending upward over the last five years, indicating balanced pricing power without over-reliance on premium amenities.
Tenure data shows approximately 37% of housing units are renter-occupied in the neighborhood, pointing to a meaningful renter concentration and a consistent pool of prospective tenants. Home values are elevated for the region, which can reinforce renter reliance on multifamily housing and support lease stability as ownership costs remain comparatively high.
Within a 3-mile radius, population and household counts have grown in recent years, with further increases projected by 2028. Rising household incomes and rent levels in this radius, as reported by WDSuite, imply a larger tenant base over time and support for occupancy stability, while still requiring disciplined lease management to monitor affordability and retention.
Safety signals are mixed and should be evaluated in context. The neighborhood ranks less favorably on certain crime measures within the Poughkeepsie–Newburgh–Middletown metro (e.g., select categories rank near the front of the 221-neighborhood list, where lower ranks indicate higher incident levels). At the same time, national comparisons place the area in stronger percentiles on several indicators, suggesting it compares more favorably against many neighborhoods nationwide. Recent-year trends show some categories moving higher, so investors should underwrite with prudent security and operating assumptions.
Regional employment anchors within commuting range include Ascena Retail Group, Becton Dickinson, Toys "R" Us, Prudential Financial, and Airgas. Their presence diversifies white-collar and operations roles and can support renter demand and retention through commute convenience.
- Ascena Retail Group — retail apparel (29.0 miles) — HQ
- Becton Dickinson — medical technology (32.1 miles) — HQ
- Toys "R" Us — retail (33.9 miles) — HQ
- Prudential Financial — financial services (37.3 miles)
- Airgas Lincoln Park — industrial gases (37.7 miles)
Built in 1973, this 24-unit asset is older than the neighborhood’s average vintage, pointing to potential value-add and capital planning opportunities to improve comps positioning against newer stock. Neighborhood fundamentals are supportive: occupancy is strong, renter-occupied share is meaningful, and homeownership costs remain elevated for the area—factors that can reinforce rental demand and steady leasing. Within a 3-mile radius, population and household growth are expected to continue, expanding the tenant base and supporting long-term absorption.
According to CRE market data from WDSuite, neighborhood rents have trended upward while rent-to-income levels are manageable, suggesting room for disciplined revenue management alongside prudent retention strategies. Safety indicators are mixed—national comparatives are favorable, but some metro-level categories warrant conservative underwriting—so investors should calibrate expenses and operating practices accordingly.
- Durable neighborhood occupancy and a meaningful renter-occupied share support leasing stability
- 1973 vintage offers value-add and capital planning levers to compete with newer stock
- Elevated homeownership costs locally can reinforce renter reliance and pricing power
- 3-mile radius shows growing population and households, expanding the tenant base over time
- Risk: mixed safety signals and limited amenity density call for conservative underwriting and asset-specific improvements