| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 2nd | Poor |
| Amenities | 15th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3 Krolla Dr, Monroe, NY, 10950, US |
| Region / Metro | Monroe |
| Year of Construction | 1980 |
| Units | 36 |
| Transaction Date | 2009-09-21 |
| Transaction Price | $200,000 |
| Buyer | 3 KROLLA INC |
| Seller | GANTZ JOSEPH |
3 Krolla Dr, Monroe NY multifamily investment
Neighborhood renter-occupied concentration is elevated and occupancy is near metro norms, according to WDSuite’s CRE market data, supporting stable tenant demand for a 36-unit asset in a high-cost ownership market.
Monroe sits within the Poughkeepsie–Newburgh–Middletown metro and shows mixed, but investable, fundamentals. Neighborhood occupancy is 90.8% (neighborhood-level, not the property) and trends around the national middle while sitting below the metro median. By contrast, the neighborhood s renter-occupied share ranks 15 out of 221 metro neighborhoods a top-quartile position that points to depth in the tenant base and supports leasing durability.
Local amenity access skews practical rather than lifestyle-focused. Grocery availability is a relative strength ranked 5 of 221 metro neighborhoods and in the low-90s nationally which helps day-to-day livability. Restaurants, cafes, parks, and pharmacies are sparse by count here, so residents typically rely on nearby corridors for dining or services; investors should underwrite this as a convenience trade-off rather than a demand limiter.
Ownership costs in this neighborhood are elevated, with home values in the mid-90s national percentile and a value-to-income ratio at the very high end nationally. In investor terms, a high-cost ownership landscape tends to reinforce reliance on multifamily housing, bolstering pricing power and lease retention potential when managed carefully.
The 3-mile radius around the property shows notable population and household growth over the past five years, with projections for further increases and a modest reduction in household size by 2028. That combination typically expands the renter pool and supports occupancy stability; forecasts also indicate the renter share within the 3-mile area edging closer to parity with owners, which can sustain demand for professionally managed apartments. Based on CRE market data from WDSuite, median contract rents in the area have risen and are projected to continue upward, which underscores the need for proactive affordability and lease management strategies.
Vintage is a differentiator: the neighborhood s average construction year skews newer (mid-2000s), while the subject was built in 1980. For investors, that implies attention to near- to medium-term capital planning and a potential value-add path via unit modernization and system upgrades to remain competitive against newer stock.
Comparable crime benchmarks for this neighborhood were not available in the dataset provided. Investors typically evaluate city and county trendlines alongside property-level measures (lighting, access control, maintenance records) and compare them with nearby neighborhoods in the Poughkeepsie–Newburgh–Middletown metro to contextualize risk. Where data is limited, a prudent approach is to combine third-party reports with on-the-ground observations at different times of day.
Regional corporate anchors within commuting range provide a diversified employment base that can support renter demand and retention. Notable employers include apparel, medical technology, food & beverage, retail headquarters, and financial services offices listed below.
- Ascena Retail Group apparel (18.8 miles) HQ
- Becton Dickinson medical technology (22.9 miles) HQ
- PepsiCo food & beverage (25.3 miles)
- Toys "R" Us retail (25.7 miles) HQ
- Prudential Financial financial services (26.1 miles)
3 Krolla Dr offers a 36-unit footprint in a neighborhood where renter-occupied share is among the strongest in the metro, indicating depth in the tenant base. Neighborhood occupancy is around national norms, and high-cost ownership dynamics (very elevated home values and value-to-income ratios) tend to sustain reliance on rentals, supporting pricing power when paired with solid operations. The property s 1980 vintage is older than the neighborhood average, creating a clear value-add or modernization angle to compete against newer stock.
Within a 3-mile radius, population and households have expanded and are projected to grow further, with slightly smaller household sizes over time a pattern that generally enlarges the renter pool and supports occupancy stability. According to CRE market data from WDSuite, neighborhood-level rents have been rising and are forecast to continue, reinforcing the case for revenue management while keeping an eye on affordability to protect retention.
- Strong neighborhood renter concentration (top-quartile metro rank) supports a deeper tenant base
- High-cost ownership market reinforces rental demand and can aid pricing power
- 3-mile radius shows population and household growth, expanding the renter pool
- 1980 vintage presents value-add and CapEx planning opportunities to outperform newer comps
- Risks: neighborhood occupancy below metro median and affordability pressure require careful lease and expense management