| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 89th | Best |
| Demographics | 8th | Poor |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6 Satmar Dr, Monroe, NY, 10950, US |
| Region / Metro | Monroe |
| Year of Construction | 1983 |
| Units | 21 |
| Transaction Date | 1997-09-04 |
| Transaction Price | $122,000 |
| Buyer | FRANKEL YOEL |
| Seller | VAN BUREN DEVELOPMENT CORP |
6 Satmar Dr Monroe NY Value-Add Multifamily
Neighborhood occupancy has remained around the mid-90s with a majority of housing units renter-occupied, according to WDSuite’s CRE market data, indicating a deep tenant base for steady leasing. Elevated ownership costs in the area further support rental demand without relying on aggressive assumptions.
6 Satmar Dr sits within the Poughkeepsie–Newburgh–Middletown metro where the immediate neighborhood shows competitive occupancy performance among 221 metro neighborhoods and a high share of renter-occupied units. These neighborhood metrics point to demand depth that can support stabilization and renewals for smaller multifamily assets.
The property’s 1983 vintage is older than the neighborhood’s newer housing stock (average construction year skews post-2010). For investors, that suggests clear value-add angles through exterior/interior upgrades and systems modernization, paired with prudent capital planning.
Amenities are mixed: grocery access scores well relative to national benchmarks, while cafes, restaurants, parks, and pharmacies are sparse nearby. This pattern typically suits renter households prioritizing larger-format retail and daily needs over dining and entertainment density; it may also concentrate demand on well-maintained on-site features.
Within a 3-mile radius, population and household counts have grown and are projected to expand further, creating a larger tenant base over the medium term. Forecasts also indicate slightly smaller average household sizes ahead, which can broaden the renter pool for a range of unit types and support occupancy stability.
Home values in the neighborhood test high compared with local incomes, and rent-to-income measures point to some affordability pressure. For operators, this dynamic favors sustained reliance on rental housing but warrants disciplined lease management and measured rent setting to maintain retention.
Neighborhood safety indicators compare favorably at the national level, with property offense levels landing in the top percentile nationwide and violent offense measures in the upper percentiles. This positions the area as comparatively safer than many U.S. neighborhoods, which can aid resident retention and leasing.
Recent year-over-year data show an uptick in violent offense measures, so investors may wish to monitor trend direction alongside local enforcement and community initiatives. Overall, the balance of metrics remains supportive, but trajectory bears watching as part of ongoing risk assessment.
Proximity to regional corporate offices supports workforce housing demand and commute convenience for renters. Notable employers within commuting distance include retail, medical technology, consumer goods, and financial services names listed below.
- Ascena Retail Group — retail apparel (18.6 miles) — HQ
- Becton Dickinson — medical technology (22.7 miles) — HQ
- PepsiCo — food & beverage (25.0 miles)
- Toys "R" Us — retail (25.5 miles) — HQ
- Prudential Financial — financial services (25.8 miles)
This 21-unit asset, built in 1983, is older than nearby housing stock and lends itself to targeted value-add and systems updates. Neighborhood fundamentals are supportive: occupancy has been competitive among metro peers and the renter-occupied share is high, indicating depth of tenant demand. Elevated for-sale values relative to income reinforce reliance on rental housing, while 3-mile demographic trends point to population and household growth that can support leasing and renewals over time. These demand drivers are underscored by neighborhood-level performance indicators, according to CRE market data from WDSuite.
Key operating considerations include measured rent setting to manage rent-to-income pressure and attention to on-site experience given limited nearby dining and park amenities. Monitoring safety trend direction is prudent, though current comparative levels are favorable nationally.
- Older 1983 vintage versus newer local stock creates clear value-add and modernization potential
- Competitive neighborhood occupancy and high renter concentration support demand depth
- Strong grocery access and regional employment nodes underpin day-to-day livability and retention
- Elevated ownership costs reinforce reliance on rental housing, aiding leasing stability
- Risks: localized amenity scarcity, rent-to-income pressure, and safety trend monitoring warrant disciplined operations