| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 89th | Best |
| Demographics | 8th | Poor |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 24 Israel Zupnick Dr, Monroe, NY, 10950, US |
| Region / Metro | Monroe |
| Year of Construction | 1998 |
| Units | 21 |
| Transaction Date | 1996-07-05 |
| Transaction Price | $150,000 |
| Buyer | QUIMBY TRIVET ASSOCIATES LP |
| Seller | KIRYAS JOEL COMMUNITY HOUSING DEVELOPMEN |
24 Israel Zupnick Dr Monroe NY Multifamily Investment
Neighborhood-level occupancy is competitive among Poughkeepsie–Newburgh–Middletown submarkets, supporting steady renter demand, according to WDSuite’s CRE market data. For investors, depth of the renter base and strong ownership costs nearby point to durable leasing fundamentals rather than outsized volatility.
This Monroe asset sits in a neighborhood with competitive occupancy performance relative to the metro (ranked in the stronger two-fifths among 221 neighborhoods), a constructive backdrop for collections and renewal strategies. Median home values in the area are elevated versus national benchmarks, which typically sustains reliance on multifamily housing and supports pricing power during lease negotiations.
Renter-occupied housing accounts for a substantial share of neighborhood units (top-quartile renter concentration locally and high nationally), indicating a deep tenant base for a 21-unit property. At the same time, the neighborhood’s rent-to-income profile signals some affordability pressure; prudent lease management and staggered increases can help protect retention while capturing market growth.
Amenity access is mixed. Grocery availability scores well compared with both metro and national peers, while cafes, restaurants, parks, and pharmacies are relatively sparse. For investors, this suggests resident convenience for essentials but fewer discretionary walk-to options—positioning the property more as practical housing than lifestyle-driven product.
Within a 3-mile radius, population and household counts have expanded in recent years and are projected to continue growing by the 2028 horizon, pointing to a larger tenant base over time. Household sizes are trending modestly smaller in forecasts, which can increase demand for rental units per capita and support occupancy stability. Based on CRE market data from WDSuite, neighborhood rents sit above national midpoints, aligning with the high-cost ownership context and reinforcing multifamily demand.
The property’s 1998 construction year is older than the neighborhood’s newer-leaning stock, creating potential value-add through targeted interiors, common-area upgrades, and systems modernization to compete effectively against 2010s product.
Safety signals are mixed and should be viewed in context. Property-related offenses are low by national comparison (top percentile nationally) and have eased year over year, a constructive signal for resident comfort and retention. Violent offense rates benchmark better than most neighborhoods nationwide as well (upper deciles), though the most recent year shows an unfavorable uptick that warrants monitoring. Investors should focus on multi-year trends and property-level measures rather than single-year volatility.
The area draws from a diversified employment base within commuting range, supporting workforce housing demand from retail, medical technology, consumer goods, finance, and technology employers listed below.
- Ascena Retail Group — apparel retail (18.4 miles) — HQ
- Becton Dickinson — medical technology (22.5 miles) — HQ
- PepsiCo — food & beverage (24.7 miles)
- Toys "R" Us — retail (25.4 miles) — HQ
- Prudential Financial — financial services (25.6 miles)
24 Israel Zupnick Dr offers a manageable 21-unit scale in a neighborhood with occupancy that benchmarks competitively within the metro, providing a constructive base for income stability. Elevated ownership costs locally underpin renter reliance on multifamily housing, while a sizable renter-occupied share points to sustained demand depth. According to CRE market data from WDSuite, the surrounding area’s rent and home value context favors steady leasing with thoughtful affordability management.
The 1998 vintage trails the neighborhood’s newer stock, creating a clear path for value-add through interior refreshes and system upgrades to close the competitive gap with 2010s-era assets. Demographics aggregated within a 3-mile radius show recent growth in population and households with further expansion projected through 2028, supporting a larger tenant base and aiding renewal leverage over time. Risks include localized amenity limitations and affordability pressure, which can be mitigated through targeted capex, service quality, and measured rent strategies.
- Competitive neighborhood occupancy supports income stability versus metro peers
- Elevated ownership costs sustain renter reliance and pricing resilience
- 1998 vintage presents value-add potential via interiors and systems modernization
- 3-mile radius shows population and household growth, expanding the tenant base
- Risks: affordability pressure and limited lifestyle amenities may affect retention