| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 61st | Good |
| Amenities | 21st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 353 S Plank Rd, Newburgh, NY, 12550, US |
| Region / Metro | Newburgh |
| Year of Construction | 1999 |
| Units | 70 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
353 S Plank Rd, Newburgh NY Multifamily Investment
Renter demand is supported by solid neighborhood incomes and rent-to-income levels that suggest manageable affordability pressure, according to WDSuite’s CRE market data. With a late-1990s vintage relative to nearby stock, the asset is positioned for competitive leasing with targeted modernization.
The property sits in a suburban pocket of Newburgh within the Poughkeepsie–Newburgh–Middletown metro. Neighborhood livability trends are above the metro median overall (rank 89 among 221 metro neighborhoods), yet daily-needs retail is thin nearby: grocery, pharmacy, and café densities are low, while restaurants register around the metro middle. For investors, this points to a predominantly residential setting where on-site conveniences and parking can matter for retention.
Construction trends indicate a slightly newer local housing stock on average (early 1990s). With a 1999 vintage, this asset is newer than the neighborhood norm, offering relative competitiveness versus older properties while warranting routine capital planning for aging systems and selective renovations to enhance positioning.
Within a 3-mile radius, demographics show a stable population with households increasing and projected to rise further, implying a larger tenant base over time. Median household income is strong for the area and expected to grow, supporting rent levels and renewal prospects. The renter-occupied share within this 3-mile area is currently modest but projected to increase, which can expand the depth of demand for multifamily units and support occupancy stability.
From an operating perspective, neighborhood occupancy trends track near national mid-range (55th percentile) and sit below the metro median, indicating competitive conditions rather than tight supply. Home values are elevated for the region, and value-to-income metrics are around national mid-range; in practice, this mix tends to sustain reliance on rental options without materially constraining move-up paths, helping preserve tenant retention and pricing discipline.
Safety signals are mixed and should be monitored over time. Relative to the metro, the neighborhood’s safety rank sits in a weaker position (rank 17 among 221 metro neighborhoods, where a lower rank indicates higher crime), suggesting elevated incidents versus many local peers. However, national comparisons point more favorably, with overall safety measures placing above the U.S. median and property-related metrics in the stronger national tiers, which can support leasing confidence.
Recent year-over-year trends show an uptick in violent-offense estimates, indicating volatility that investors should underwrite through staffing, lighting, and access-control plans, as well as ongoing monitoring of local policing and community initiatives. Framing this contextually—versus the region and nation—helps align expectations without relying on block-level claims.
Regional employment is diversified across industrial gases, retail apparel, food and beverage, technology, and medical technology within commuting range, supporting renter demand through a broad white- and gray-collar base.
- Praxair — industrial gases HQ offices (30.6 miles) — HQ
- Ascena Retail Group — retail apparel HQ offices (32.1 miles) — HQ
- PepsiCo — food & beverage corporate offices (33.3 miles)
- IBM — technology HQ offices (35.1 miles) — HQ
- Becton Dickinson — medical technology HQ offices (36.3 miles) — HQ
This 70-unit, 1999-vintage asset offers relative age advantage versus the early-1990s neighborhood average, positioning it well for durable occupancy with targeted upgrades. Household growth within a 3-mile radius, rising incomes, and a projected increase in renter-occupied share point to a gradually expanding tenant base. Neighborhood occupancy is around national mid-range, suggesting competitive—but serviceable—leasing conditions where execution and unit finishes influence outcomes.
Ownership costs in the area are elevated relative to incomes while rent-to-income levels remain manageable, a combination that can sustain renter reliance on multifamily housing and support renewal rates. According to CRE market data from WDSuite, local amenity density is modest outside of restaurants, so on-site features and professional management can be differentiators for pricing power and retention.
- 1999 vintage offers competitive positioning versus older local stock with focused modernization upside
- 3-mile area shows household growth and rising incomes, supporting a larger tenant base and leasing stability
- Elevated ownership costs and manageable rent-to-income dynamics reinforce multifamily demand and renewals
- Execution focus: amenity-light surroundings and metro-relative safety rank require strong property management and resident services