| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 43rd | Poor |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 223 West St, Newburgh, NY, 12550, US |
| Region / Metro | Newburgh |
| Year of Construction | 1996 |
| Units | 82 |
| Transaction Date | 2014-04-23 |
| Transaction Price | $4,400,000 |
| Buyer | HIGH POINTE APARTMENTS |
| Seller | HIGH POINTE APARTMENTS LP |
223 West St, Newburgh NY Multifamily Investment
Positioned in an inner-suburb neighborhood with steady renter demand, the asset benefits from a tenant base supported by local employment and improving household incomes, according to WDSuite’s CRE market data.
223 West St sits in Newburgh’s Inner Suburb setting, where neighborhood livability is serviceable and daily needs are largely met by nearby grocery and childcare options. Amenity access is competitive among Poughkeepsie-Newburgh-Middletown, NY neighborhoods (ranked 80 of 221), reflecting practical convenience rather than destination retail or dining.
For landlords, the neighborhood’s occupancy typically supports stable leasing conditions, though it trails the metro median, while the area’s renter concentration is competitive in the region (ranked 73 of 221). Median contract rents in the neighborhood stand above many U.S. areas (upper-national-percentile positioning) and have grown in recent years, which points to pricing power when units are well-maintained and positioned. These metrics reference the neighborhood as a whole, not this specific property.
Vintage context matters: the average neighborhood construction year is 1971, and this property’s 1996 build is newer than much of the local stock. That positioning can reduce immediate modernization needs versus older comparables, yet investors should still plan for aging systems and selective renovations to maintain competitiveness.
Within a 3-mile radius, WDSuite data indicates population and household growth over the past five years, with additional gains projected through 2028. A larger household base and rising incomes expand the tenant pool and can support occupancy stability for well-managed multifamily assets. Where ownership costs are moderate by regional standards, multifamily can capture households prioritizing flexibility and monthly cost predictability, aiding retention.
Safety signals are mixed. Compared with other neighborhoods in the Poughkeepsie-Newburgh-Middletown, NY metro, the area ranks in a less favorable tier (ranked 29 of 221), indicating crime levels that are higher than many local peers. Nationally, the neighborhood aligns closer to mid-to-better ranges on several measures, with some indicators landing in higher safety percentiles versus neighborhoods across the U.S., according to WDSuite.
Recent trends show property offenses easing year over year, while estimated violent offense rates increased, underscoring variability that owners should factor into on-site management, lighting, and access-control planning. These neighborhood-level metrics provide context and should be paired with current, property-specific security practices during due diligence.
The broader employment base includes regional corporate offices that help sustain renter demand through commute-accessible jobs, particularly for professional and operations roles. Key nearby employers include Praxair, PepsiCo, Ascena Retail Group, IBM, and Becton Dickinson.
- Praxair — industrial gases corporate offices (27.3 miles) — HQ
- Pepsico — food & beverage corporate offices (30.5 miles)
- Ascena Retail Group — apparel retail corporate offices (30.9 miles) — HQ
- Ibm — technology corporate offices (32.1 miles) — HQ
- Becton Dickinson — medical devices corporate offices (35.3 miles) — HQ
This 82-unit, 1996-vintage property offers scale in a neighborhood where renter demand is supported by a growing 3-mile household base and rising incomes. Being newer than the area’s average vintage provides a relative competitive edge versus older stock, while still warranting capital plans for systems reaching mid-life to sustain rent positioning and reduce turnover risk. Neighborhood occupancy trends support stability for well-managed assets, and median rents sit in higher national percentiles, suggesting potential to capture demand with effective operations.
According to CRE market data from WDSuite, the immediate area shows serviceable amenity access and a renter base that is competitive within the metro, while regional employment centers strengthen leasing fundamentals for workforce and professional households. Investors should balance these positives with prudent attention to neighborhood safety variability and the need for ongoing renovations to maintain curb appeal and operational resilience.
- 82 units and a 1996 build offer scale and relative competitiveness versus older neighborhood stock
- Growing 3-mile household base and rising incomes expand the tenant pool and support occupancy stability
- Neighborhood median rents sit in higher national percentiles, supporting pricing power for well-positioned units
- Access to regional corporate offices underpins leasing from commuters and local professionals
- Risk: neighborhood safety signals are mixed; sustained security and on-site management are important