| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 2nd | Poor |
| Amenities | 15th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5 Shinev Ct, Monroe, NY, 10950, US |
| Region / Metro | Monroe |
| Year of Construction | 1997 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5 Shinev Ct, Monroe NY Multifamily Investment
Neighborhood data points to steady renter demand and near-median occupancy in the surrounding area, according to CRE market data from WDSuite. These signals, measured for the neighborhood rather than the property, suggest a stable base for a 22-unit asset with potential to capture local leasing activity.
The property is situated in Monroe within the Poughkeepsie–Newburgh–Middletown metro, in a neighborhood rated C- and ranked toward the lower end among 221 metro neighborhoods. While overall positioning trails the metro median, local fundamentals still indicate steady renter demand and workable leasing dynamics for well-managed, needs-based housing.
Amenity access is mixed. Grocery availability ranks 5th of 221 metro neighborhoods and places in the top quartile nationally, supporting daily convenience for residents. By contrast, the neighborhood scores at the bottom of the metro for cafes, restaurants, parks, and pharmacies, so on-site amenities and property management responsiveness can be important differentiators for retention.
Vintage dynamics favor selective value-add. The average neighborhood construction year is 2006, whereas this asset was built in 1997. The older vintage points to potential modernization opportunities (exteriors, common areas, or systems) to enhance competitive positioning against newer stock, while still leveraging workforce-oriented demand.
Tenure patterns indicate a deep renter base. The share of housing units that are renter-occupied is elevated locally, which supports depth of demand and absorption potential for multifamily. Within a 3-mile radius, population and household counts have been expanding and are projected to continue growing, implying a larger tenant base over the next few years. Household sizes are high today but are expected to trend slightly lower, which can sustain demand for a range of unit types without relying on new unit construction. Elevated home values in the neighborhood point to a high-cost ownership market, which tends to reinforce reliance on rental options and can aid lease retention and pricing power for competitively positioned communities.
Comparable safety statistics for this neighborhood are not available in the current dataset from WDSuite. Investors typically benchmark neighborhood trends against metro and national peers when data is available; absent that, underwriting should incorporate standard sensitivity assumptions and local diligence to gauge risk and resident sentiment.
Regional corporate offices within commuting distance help support renter demand through employment diversification and commute convenience. Key nearby employers include Ascena Retail Group, Becton Dickinson, PepsiCo, Toys "R" Us, and Prudential Financial.
- Ascena Retail Group — corporate offices (18.1 miles) — HQ
- Becton Dickinson — corporate offices (22.2 miles) — HQ
- PepsiCo — corporate offices (24.9 miles)
- Toys "R" Us — corporate offices (25.0 miles) — HQ
- Prudential Financial — corporate offices (25.4 miles)
Built in 1997, this 22-unit asset offers potential value-add upside relative to a neighborhood where the average construction year skews newer. According to CRE market data from WDSuite, neighborhood occupancy sits near the national median while the concentration of renter-occupied housing is elevated, supporting a dependable tenant base for well-positioned multifamily. Elevated for-sale home values in the area further sustain reliance on rentals, aiding lease retention for competitively managed communities.
Within a 3-mile radius, population and household counts have expanded and are projected to continue rising, pointing to renter pool expansion and underpinning occupancy stability over the medium term. While amenity depth is uneven beyond strong grocery access, targeted renovations and thoughtful operations can differentiate the property versus newer stock and support durable cash flow.
- 1997 vintage suggests modernization potential versus newer neighborhood stock, creating value-add pathways
- Elevated renter-occupied share supports depth of demand and leasing stability
- Strong grocery access with broad regional employment base within commuting distance
- Demographic growth within 3 miles points to a larger tenant base and supports occupancy
- Risk: uneven neighborhood amenities and affordability pressures require disciplined rent and renewal management