| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 37th | Poor |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 35 Cerone Pl, Newburgh, NY, 12550, US |
| Region / Metro | Newburgh |
| Year of Construction | 1996 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
35 Cerone Pl Newburgh Multifamily Investment
Neighborhood occupancy is strong and renter demand is deep for workforce housing near daily-needs retail, according to WDSuite’s CRE market data. Expect stable leasing supported by a high share of renter-occupied units and proximity to essential services.
The property sits in an Inner Suburb pocket of Newburgh that rates A- and is competitive among Poughkeepsie–Newburgh–Middletown neighborhoods (51 of 221). Daily-needs access is a local strength with groceries, pharmacies, and restaurants relatively dense for the area, while parks and cafes are limited. For investors, this mix supports everyday convenience and leasing durability, even if lifestyle amenities are more modest.
Neighborhood multifamily occupancy is above metro median and in the top quintile nationally, signaling steady renter demand and low frictional vacancy. The renter-occupied share of housing units in the neighborhood is very high, indicating a broad tenant base that can help support lease-up and retention across economic cycles.
The average neighborhood building stock skews older (1930s), while this asset’s 1996 vintage is newer than much of the immediate competitive set. That positioning can reduce near-term obsolescence risk versus prewar stock and offers a practical platform for selective modernization to enhance competitiveness as systems age.
Within a 3-mile radius, recent population growth and a double-digit increase in households point to a larger tenant base, with forecasts indicating continued population gains and smaller average household sizes by 2028. These trends, based on commercial real estate analysis from WDSuite, support demand for rental units and occupancy stability.
Ownership costs in the neighborhood are comparatively accessible by national standards, which can introduce some competition with entry-level ownership. That said, rent-to-income levels are manageable locally, suggesting balanced affordability that can aid lease retention when paired with disciplined revenue management.
Safety indicators trend favorable in a national context. Neighborhood violent and property offense rates are in the top quartile nationally for safer outcomes, and recent data show notable year-over-year declines in violent incidents, according to WDSuite. While conditions can vary by block and over time, the broader trend supports day-to-day livability and renter confidence.
Regional employers within commuting range—Praxair, PepsiCo, Ascena Retail Group, IBM, and Becton Dickinson—provide a diversified white-collar and industrial employment base that can underpin renter demand and support retention for workforce and mid-market units.
- Praxair — industrial gases (27.1 miles) — HQ
- Pepsico — consumer goods (29.8 miles)
- Ascena Retail Group — retail apparel (30.1 miles) — HQ
- IBM — technology & services (31.5 miles) — HQ
- Becton Dickinson — medical technology (34.5 miles) — HQ
This 60-unit, 1996-vintage asset benefits from a neighborhood with above-metro occupancy and a very high concentration of renter-occupied housing units, supporting depth of demand and lease stability. Within a 3-mile radius, households have expanded meaningfully and are projected to grow further by 2028, pointing to a larger renter pool and support for sustained absorption. According to CRE market data from WDSuite, local daily-needs retail density (groceries, pharmacies, restaurants) enhances livability and day-to-day convenience, while the property’s newer vintage versus much of the area’s older stock positions it well with targeted modernization.
Key considerations include ownership costs that are relatively accessible compared with many U.S. neighborhoods—potentially moderating pricing power at the margin—and limited park and cafe inventory, which may require amenity programming on-site to reinforce competitiveness. Even so, the combination of strong occupancy signals, growing household counts, and a workable value-add path underpins a balanced, long-term thesis.
- Above-metro neighborhood occupancy and deep renter-occupied housing base support leasing stability
- 1996 vintage is newer than much of the submarket, enabling targeted modernization for competitive positioning
- Within 3 miles, population and household growth expand the tenant base and support absorption
- Daily-needs retail concentration (groceries, pharmacies, restaurants) bolsters day-to-day livability and retention
- Risks: relatively accessible ownership options and limited parks/cafes could temper pricing power without strategic upgrades