| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 2nd | Poor |
| Amenities | 15th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 143 Acres Rd, Monroe, NY, 10950, US |
| Region / Metro | Monroe |
| Year of Construction | 1995 |
| Units | 72 |
| Transaction Date | 2020-01-27 |
| Transaction Price | $60,000 |
| Buyer | VIOLET REALTY GROUP INC |
| Seller | 1 GORLI 303 CORP |
143 Acres Rd Monroe NY Multifamily Investment
Neighborhood data points to a deep renter base and steady occupancy dynamics, according to WDSuite’s CRE market data for the surrounding neighborhood. The area’s renter concentration supports demand durability, while investors should underwrite to local operating trends rather than property-level assumptions.
Demand drivers in this Urban Core pocket of Monroe are balanced by everyday convenience. Grocery access is a relative strength, ranking 5th out of 221 metro neighborhoods and in the 93rd percentile nationally for stores per square mile, which helps support daily-needs living and tenant retention. In contrast, limited cafe, restaurant, park, and pharmacy density suggests residents rely on nearby corridors rather than immediate walk-to amenities.
Multifamily fundamentals are mixed but investable. The neighborhood s occupancy rate of 90.8% sits below the metro median (ranked 155 of 221), yet the renter-occupied share of housing units is elevated at 59.2% and competitive among Poughkeepsie Newburgh Middletown neighborhoods (ranked 15 of 221; top quartile nationally). Median neighborhood contract rent is $1,196, indicating pricing that can attract a broad tenant base while still requiring careful affordability management.
Demographic statistics aggregated within a 3-mile radius show a larger tenant base taking shape: population grew about 30% since 2018 and households rose roughly 25%, with projections calling for continued growth through 2028. Forecasts also point to a modest reduction in average household size, implying a wider mix of housing needs and steady feeders into professionally managed rentals.
Ownership costs are high in the neighborhood context: median home values rank 3rd of 221 locally and in the 94th percentile nationally. This high-cost ownership market, combined with a value-to-income ratio that ranks at the top of metro comparisons, tends to reinforce reliance on multifamily housing and can support pricing power when paired with prudent lease management.
Vintage considerations matter. Built in 1995 compared with a 2006 neighborhood average (ranked among the newer submarkets locally), the property is older than much of the nearby stock. Investors should plan for capital expenditures and potential value-add upgrades to sharpen competitive positioning against newer assets.
Comparable neighborhood-level crime statistics are not available in WDSuite for this location, so metro ranking and national percentile context cannot be provided. Investors should review recent municipal reports and police blotter trends, and benchmark against peer submarkets to assess operational risk and insurance planning.
Regional employers within commuting range support a diversified workforce and reinforce renter demand, including apparel retail, medical technology, consumer goods, retail headquarters, and financial services offices listed below.
- Ascena Retail Group apparel retail (18.6 miles) HQ
- Becton Dickinson medical technology (22.7 miles) HQ
- PepsiCo beverages & consumer packaged goods (24.9 miles)
- Toys "R" Us retail (25.5 miles) HQ
- Prudential Financial financial services (25.8 miles)
143 Acres Rd offers exposure to a renter-heavy neighborhood with grocery-driven convenience and a high-cost ownership backdrop that sustains rental reliance. Based on commercial real estate analysis from WDSuite, occupancy in the surrounding neighborhood trends below the metro median, but the renter-occupied share sits in the top quartile nationally, indicating depth of tenant demand. The 1995 vintage introduces value-add and capital planning angles relative to a newer 2006 neighborhood average, creating potential to reposition against younger competitors.
Demographic statistics aggregated within a 3-mile radius show strong population and household growth, with projections indicating further expansion and slightly smaller household sizes factors that can broaden the renter pool and support lease-up and renewal stability. Elevated home values in the local context reinforce sustained demand for rental housing, though underwriting should account for affordability pressure and amenity trade-offs.
- Renter-heavy neighborhood supports durable tenant demand and leasing velocity.
- High-cost ownership market underpins rental reliance and potential pricing power.
- 1995 vintage presents value-add and capex planning opportunities versus newer stock.
- Risk: Below-metro occupancy and limited walkable amenities warrant conservative underwriting and active asset management.