| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 37th | Poor |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 36 Cerone Pl, Newburgh, NY, 12550, US |
| Region / Metro | Newburgh |
| Year of Construction | 1981 |
| Units | 102 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
36 Cerone Pl, Newburgh Multifamily Investment Opportunity
Neighborhood fundamentals point to durable renter demand and high occupancy in the immediate area, according to WDSuite s CRE market data. A strong renter-occupied housing base supports leasing stability for well-managed assets.
Positioned in Newburgh s inner-suburb setting, the property benefits from a neighborhood rated A- and placed in the top quartile among 221 metro neighborhoods in the Poughkeepsie Newburgh Middletown area. Nearby housing shows solid renter demand with neighborhood occupancy around the mid-to-high 90s; this is a neighborhood metric, not the property s own occupancy.
Retail and daily-needs access are a local strength: grocery and restaurant density score well versus national peers, and pharmacy access is among the stronger showings nationally. Café presence and parks are thinner, suggesting an opportunity for future amenity growth but not a current driver.
The renter-occupied housing share in the neighborhood is very high, indicating a deep tenant base for multifamily. Median rents in the neighborhood have risen over the past five years, and the rent-to-income relationship sits on the more manageable side compared to national norms a positive for lease retention and collections.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to increase further, pointing to a larger tenant base over time. Household size is trending slightly smaller, which can support demand for a range of unit types and sustained occupancy. Based on WDSuite s commercial real estate analysis, elevated ownership costs relative to incomes in the area reinforce reliance on rental housing, supporting pricing power for competitive units.
Vintage context matters: the asset s 1981 construction is newer than much of the surrounding housing stock, which often translates to competitive positioning versus older properties. Investors should still underwrite typical system updates or selective renovations to meet current renter expectations.
Safety indicators for the neighborhood compare favorably to many areas nationwide, with estimates placing property and violent offenses in stronger national percentiles, based on WDSuite s CRE market data. Recent trend data also points to year-over-year declines in violent offenses, which, if sustained, can support leasing stability and tenant retention.
Conditions can vary by block and over time. Many investors benchmark against both metro and national trends, incorporate on-the-ground observations, and plan proactive property management to align with resident expectations.
Regional corporate offices within commuting range help sustain renter demand, with access to roles across corporate functions. Notable employers include Praxair, PepsiCo, Ascena Retail Group, IBM, and Becton Dickinson.
- Praxair — corporate offices (27.1 miles) — HQ
- Pepsico — corporate offices (29.8 miles)
- Ascena Retail Group — corporate offices (30.1 miles) — HQ
- Ibm — corporate offices (31.5 miles) — HQ
- Becton Dickinson — corporate offices (34.5 miles) — HQ
This 102-unit, 1981-vintage asset aligns with a neighborhood that exhibits sustained renter demand, high occupancy, and daily-needs connectivity. The area s very high share of renter-occupied housing supports a durable tenant base, while manageable rent-to-income levels point to healthier retention and collections. According to CRE market data from WDSuite, local safety indicators and access to essential retail compare well nationally, adding to the property s leasing appeal.
Forward-looking fundamentals are constructive: within a 3-mile radius, population and households have grown and are projected to increase further, expanding the renter pool. The 1981 vintage is newer than much of the surrounding stock, offering competitive positioning with potential value-add through targeted system upgrades and unit modernization. Investors should note lighter lifestyle amenities (parks/cafés) and regional commute distances as manageable considerations in underwriting.
- Deep renter base and high neighborhood occupancy support leasing stability
- Daily-needs access (grocery/pharmacy/restaurants) compares well nationally
- 1981 vintage offers competitive positioning with value-add upgrade potential
- 3-mile population and household growth expands the tenant pipeline
- Risks: lighter parks/caf s, commute distances to major employers, and typical capex for 1980s systems