| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 2nd | Poor |
| Amenities | 15th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1 Velove Ct, Monroe, NY, 10950, US |
| Region / Metro | Monroe |
| Year of Construction | 2009 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1 Velove Ct Monroe NY 2009 Multifamily Investment
Renter demand appears durable with neighborhood occupancy around 91% and a renter-occupied share near 59%, according to WDSuite’s CRE market data. Positioning benefits from newer-vintage stock in this part of Orange County relative to the metro.
Located in Monroe within the Poughkeepsie–Newburgh–Middletown metro, the property sits in a neighborhood rated C- (ranked 202 out of 221 metro neighborhoods). Despite the middling overall rank, housing metrics are stronger: the neighborhood’s housing rank is 3 out of 221, indicating competitive fundamentals among metro peers. Neighborhood occupancy is approximately 90.8%, suggesting generally steady leasing conditions versus national norms (near the median).
Vintage positioning is favorable for a 2009 build. The neighborhood’s average construction year ranks 5 out of 221, so this asset competes well against older stock while investors should still plan for mid-life system upgrades over the hold period. The renter-occupied share in the neighborhood is about 59% (ranked 15 of 221), indicating a deep tenant base that can support leasing stability for multifamily.
Within a 3-mile radius, demographics show a larger tenant base and continued growth. Population and households have expanded in recent years and are projected to rise further by 2028, with forecasts pointing to more households and a modest shift toward smaller household sizes—factors that typically support multifamily absorption and occupancy persistence. Median contract rents in the 3-mile area have trended upward and are projected to continue rising, which can aid revenue growth if paired with careful lease management.
Local amenity density is mixed. Grocery access is a relative strength (ranked 5 of 221, top quartile among metro neighborhoods), while cafes, restaurants, parks, and pharmacies are limited in the immediate neighborhood. Elevated neighborhood home values (median around $729,000; ranked 3 of 221 and high nationally) point to a high-cost ownership market, which generally sustains reliance on rental housing and can reinforce tenant retention and pricing power for well-managed assets.
Comparable neighborhood-level crime data is not available in WDSuite for this location at this time. Investors typically evaluate safety using multi-year trends from municipal or county sources to understand how the neighborhood compares to the broader Orange County and metro area.
Given the absence of a standardized rank or national percentile in the dataset, a practical approach is to review regional trend reports and engage local property managers for on-the-ground context to inform underwriting assumptions.
Commuter access to regional corporate employment supports renter demand, particularly for workforce and professional tenants. Nearby anchors include Ascena Retail Group, Becton Dickinson, PepsiCo, Toys "R" Us, and Prudential Financial.
- Ascena Retail Group — corporate offices (19.0 miles) — HQ
- Becton Dickinson — corporate offices (23.1 miles) — HQ
- Pepsico — corporate offices (25.5 miles)
- Toys "R" Us — corporate offices (25.9 miles) — HQ
- Prudential Financial — corporate offices (26.3 miles)
This 36-unit, 2009-vintage property aligns with neighborhood dynamics that favor multifamily demand. Based on CRE market data from WDSuite, the surrounding neighborhood posts roughly 91% occupancy and exhibits a high renter-occupied share, indicating depth in the tenant pool. Elevated ownership costs nearby further support reliance on rental housing, while grocery access is a relative strength even as broader amenity density is modest.
Within a 3-mile radius, population and household counts have grown and are projected to continue rising through 2028, with a gradual tilt toward smaller household sizes—conditions that can aid lease-up velocity and retention. As a newer build relative to much of the local stock, the asset should remain competitive versus older properties, though investors should plan for mid-life capital items and navigate affordability pressures with prudent revenue management.
- Newer 2009 vintage in a submarket where newer stock ranks near the top among 221 metro neighborhoods
- Neighborhood occupancy around 91% and strong renter-occupied concentration support demand depth
- High-cost ownership market nearby helps sustain renter reliance and potential pricing power
- 3-mile demographic growth and projected household expansion bolster long-run leasing fundamentals
- Risks: affordability pressure (high rent-to-income at neighborhood level) and limited non-grocery amenities may require careful lease and retention strategies