| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 89th | Best |
| Demographics | 8th | Poor |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2 Krolla Dr, Monroe, NY, 10950, US |
| Region / Metro | Monroe |
| Year of Construction | 1980 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2 Krolla Dr Monroe, NY Multifamily Investment
Neighborhood occupancy has remained in the mid-90s, supporting stable leasing fundamentals according to WDSuite’s CRE market data. This location’s tenant base is reinforced by a high renter concentration at the neighborhood level.
Located in Monroe within the Poughkeepsie–Newburgh–Middletown metro, the property benefits from durable renter demand. At the neighborhood level, occupancy has hovered near 95%, and renter-occupied housing represents a majority share, indicating depth in the tenant base and potential for steady renewals rather than heavy lease-up exposure.
Rent levels in the neighborhood rank 51 out of 221 metro neighborhoods, placing it in the top quartile among 221 metro neighborhoods for achieved contract rents. Elevated ownership costs (with home values benchmarking high for the region) tend to sustain reliance on multifamily rentals, which can support pricing power and retention for well-managed assets.
Amenity access is mixed: grocery availability is strong (ranked 21 of 221), while cafes, restaurants, parks, and pharmacies rank toward the back of the pack locally. For investors, this suggests convenience for daily needs but a thinner supply of lifestyle retail inside the immediate area, which may modestly influence resident expectations and marketing positioning.
Demographic statistics within a 3-mile radius indicate population and household growth over the past five years, with forecasts through 2028 pointing to further increases in households and a rising renter share. This trajectory supports a larger tenant base and sustained occupancy, according to WDSuite’s commercial real estate analysis benchmarks for similar suburban-urban edge locations.
The asset’s 1980 vintage compares to a newer neighborhood average year built of 2014. Older vintage typically implies capital planning needs but also potential value-add upside through targeted renovations and system upgrades to remain competitive against newer stock.
Safety indicators, framed comparatively, show the neighborhood performing above the national midpoint overall (61st percentile nationally). Property offenses benchmark very favorably (around the top end nationally), while violent offenses also score stronger than most neighborhoods nationwide (87th percentile). Recent trends are mixed: property offense rates have eased year over year, while violent offense measures show an uptick. Investors should underwrite with a focus on ongoing monitoring rather than assuming a static trend.
Regional employment anchors within commuting range include corporate offices for Ascena Retail Group, Becton Dickinson, PepsiCo, Toys "R" Us, and Prudential Financial — a mix that supports workforce housing demand and retention through diverse white-collar employment.
- Ascena Retail Group — retail apparel (18.7 miles) — HQ
- Becton Dickinson — medical devices (22.9 miles) — HQ
- PepsiCo — food & beverage (25.2 miles)
- Toys "R" Us — retail (25.7 miles) — HQ
- Prudential Financial — financial services (26.0 miles)
2 Krolla Dr offers a steady-demand setting anchored by a neighborhood renter concentration and occupancy in the mid-90s. High ownership costs in the area reinforce multifamily as a primary housing option, which can support rent levels and reduce turnover volatility for well-operated assets. Based on CRE market data from WDSuite, the surrounding area compares competitively on rents versus many metro peers, even as lifestyle amenities are thinner locally.
The 1980 vintage suggests clear value-add pathways: interior upgrades, common-area refreshes, and selective system modernization to position against newer stock. Demographic statistics aggregated within a 3-mile radius show growth in population and households, with forecasts indicating a larger renter pool ahead — a constructive backdrop for occupancy stability and income durability, assuming disciplined leasing and expense management.
- Stable neighborhood occupancy and high renter concentration support steady leasing
- Competitive rent positioning versus many metro neighborhoods
- 1980 vintage creates value-add and modernization potential
- 3-mile radius shows household growth and renter pool expansion, aiding demand
- Risks: thinner lifestyle amenities nearby, affordability pressure, and mixed recent safety trends warrant conservative underwriting