| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 58th | Fair |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2 Lamplight Village Rd, Monroe, NY, 10950, US |
| Region / Metro | Monroe |
| Year of Construction | 1972 |
| Units | 83 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2 Lamplight Village Rd Monroe Multifamily Investment
Neighborhood fundamentals point to steady renter demand and occupancy stability, based on CRE market data from WDSuite. Metrics cited reflect the surrounding neighborhood, not this specific property.
Located in Monroe within the Poughkeepsie–Newburgh–Middletown, NY metro, the neighborhood carries an A rating and ranks 12 out of 221 metro neighborhoods, signaling competitive positioning among regional peers. Amenity access is a relative strength: cafes, restaurants, groceries, parks, and pharmacies register in the top quartile nationally, supporting daily convenience that can aid leasing and retention.
Renter-occupied housing comprises roughly a third of local units at the neighborhood level, indicating a meaningful but not dominant renter concentration that supports depth of tenant demand. Neighborhood occupancy is solid and has improved over the past five years, a pattern that typically supports income durability for well-managed multifamily assets (according to WDSuite’s CRE market data).
Within a 3-mile radius, demographics show population and household expansion alongside rising incomes, pointing to a growing renter pool and potential for continued leasing velocity. Forecasts also indicate further growth in households and incomes over the next five years, while a slight easing in average household size could broaden unit-type appeal and support absorption of a range of floor plans.
Home values in the neighborhood sit below many downstate New York corridors yet high enough to make ownership a significant commitment, which tends to sustain reliance on rental options. Rent-to-income levels in the area are generally manageable, suggesting balanced affordability that can support retention and measured pricing power for competitive assets.
Comparable crime statistics at the neighborhood level are not available in this dataset. Investors typically contextualize safety by reviewing town and county trend data, management practices, and property-level measures rather than drawing conclusions from isolated or block-level anecdotes.
The regional employment base features a mix of corporate offices across retail, medical technology, food and beverage, and financial services—supporting commuter convenience and diversified renter demand from Ascena Retail Group, Becton Dickinson, Pepsico, Toys "R" Us, and Prudential Financial.
- Ascena Retail Group — apparel retail (17.3 miles) — HQ
- Becton Dickinson — medical technology (21.5 miles) — HQ
- Pepsico — food & beverage (24.3 miles)
- Toys "R" Us — retail (24.3 miles) — HQ
- Prudential Financial — financial services (24.7 miles)
This 83-unit property, built in 1972, is older than the neighborhood’s average vintage and may warrant capital planning for systems and common-area upgrades—creating potential value-add upside where renovations can enhance competitiveness versus newer stock. Neighborhood occupancy is in the mid-90% range and has trended up over five years, and rents benchmark above national medians, according to CRE market data from WDSuite. Combined with a balanced renter-occupied share, this points to a stable tenant base and attainable pricing for well-positioned units.
Within a 3-mile radius, population and households are expanding with income gains, indicating a larger tenant base and ongoing demand for rental housing. Local amenity access ranks well nationally, which can aid leasing and retention, while ownership costs in the area continue to support reliance on multifamily. Key risks include the property’s 1970s vintage and standard exposure to broader economic cycles; however, the neighborhood’s competitive standing within the metro and diversified employment access offer support for long-term fundamentals.
- Occupancy and renter demand trends at the neighborhood level support income stability
- 1972 vintage presents value-add potential via system upgrades and modernization
- 3-mile population and household growth point to a larger tenant base over time
- Strong amenity access and regional employers support leasing and retention
- Risks: older building systems and macro sensitivity could affect capex and pricing power