| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 48th | Poor |
| Amenities | 34th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 211 Ward St, Montgomery, NY, 12549, US |
| Region / Metro | Montgomery |
| Year of Construction | 1973 |
| Units | 84 |
| Transaction Date | 2007-04-09 |
| Transaction Price | $8,400,000 |
| Buyer | WATER WHEEL ASSOCIATES LLC |
| Seller | WATERWHEEL LLC |
211 Ward St, Montgomery NY Multifamily Investment
Neighborhood occupancy has held competitive versus the metro, supporting stable leasing conditions, according to WDSuite’s CRE market data. Positioning in a suburban pocket with steady renter demand and manageable rent-to-income levels points to durable cash flow potential.
Montgomery sits within the Poughkeepsie–Newburgh–Middletown metro and scores a B neighborhood rating in WDSuite, indicating balanced fundamentals for workforce-oriented rentals. Neighborhood occupancy trends are competitive among Poughkeepsie–Newburgh–Middletown neighborhoods (ranked 88 out of 221) and sit in the low-70s national percentile, suggesting a solid base of leased units rather than a lease-up story.
Amenity access is mixed: parks density is a relative strength (ranked 27 of 221; top quartile nationally), while everyday retail like groceries and pharmacies is thinner locally. Cafes benchmark well within the metro (ranked 31 of 221; mid-70s national percentile), and restaurants track around the national midpoint. For families, average school ratings land near the national middle, implying serviceable but not headline-grabbing school performance.
Tenure patterns indicate a modest renter base. At the neighborhood level, renter-occupied housing accounts for roughly three in ten units, which supports leasing depth without heavy turnover risk. In the 3-mile radius around the property, WDSuite’s demographics show household counts have been broadly stable with a slight recent dip in population, a pattern consistent with smaller household sizes over time. Forward-looking data point to an increase in total households alongside smaller average household size, which can maintain a steady renter pool even if population growth is muted.
Income and housing cost metrics frame a pragmatic affordability picture for investors. Median household income benchmarks in the low-70s national percentile, while the rent-to-income ratio tracks around 0.14 in this neighborhood—levels that are consistent with retention and manageable renewal risk. Elevated home values relative to incomes by national standards reinforce ongoing reliance on rental options, which can support occupancy stability and measured pricing power for well-managed assets.
WDSuite does not provide current, comparable crime metrics for this neighborhood, so investors typically benchmark safety using broader municipal or county trends and on-the-ground management feedback. Absent neighborhood-ranked data, it’s prudent to evaluate historical trends at the city and metro levels and incorporate property-specific security practices into underwriting.
Regional employment includes a mix of corporate offices and headquarters within commuting range, which can help sustain renter demand and retention for workforce housing. The list below highlights notable employers by proximity.
- Ascena Retail Group — corporate offices (31.3 miles) — HQ
- Becton Dickinson — corporate offices (35.2 miles) — HQ
- PepsiCo — corporate offices (36.6 miles)
- Praxair — corporate offices (37.4 miles) — HQ
- Toys "R" Us — corporate offices (37.7 miles) — HQ
This 84-unit asset benefits from neighborhood occupancy that is competitive within the metro and a renter-occupied share near one-third of units, indicating a stable but not oversaturated tenant base. Income levels benchmark above national medians, and neighborhood rent-to-income around 0.14 supports renewal management and steady absorption rather than a stretch affordability profile. According to CRE market data from WDSuite, parks access outperforms both metro and national baselines, while retail conveniences are thinner—an underwriting nuance that places more weight on on-site amenities and operations.
Forward-looking demographics aggregated within a 3-mile radius suggest total households can grow even as population softens, consistent with smaller household sizes—an outcome that typically sustains multifamily demand. Coupled with moderate contract rents and elevated ownership costs relative to incomes, the submarket’s fundamentals point to durable occupancy with room for disciplined value-capture through renovations and tenant experience improvements.
- Competitive neighborhood occupancy and a steady renter-occupied share support leasing stability
- Income levels and rent-to-income metrics align with manageable retention risk
- 3-mile trends show more households with smaller sizes, sustaining the renter pool
- Parks access is a local strength; leaner retail nodes elevate the importance of on-site amenities
- Risks: modest population contraction, thinner neighborhood retail, and an older asset base requiring targeted capex