| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 22nd | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 440 Carpenter Ave, Newburgh, NY, 12550, US |
| Region / Metro | Newburgh |
| Year of Construction | 1973 |
| Units | 23 |
| Transaction Date | 2002-03-26 |
| Transaction Price | $56,700 |
| Buyer | SANTOS MATTHEW |
| Seller | MARCELLE M WASHINGTON IRT |
440 Carpenter Ave Newburgh Multifamily Investment
Neighborhood occupancy has remained firm and renter-occupied housing is prevalent, pointing to a stable tenant base according to WDSuite’s CRE market data. Metrics referenced below describe the surrounding neighborhood, not this specific property.
Positioned in Newburgh’s inner-suburban fabric, the property benefits from a neighborhood occupancy rate that is above the metro median and has trended higher in recent years, supporting income stability for multifamily operators. The area shows a high concentration of renter-occupied units, indicating depth in the tenant pool for small and mid-size communities.
Local retail and amenities are limited within the immediate neighborhood, so residents typically rely on broader Newburgh and regional corridors for groceries, restaurants, and services. For investors, this dynamic can favor value approaches that emphasize on-site convenience, parking, and reliable property management to support retention.
The median home value in the neighborhood sits at a level that reflects a higher-cost ownership market relative to incomes, which tends to reinforce reliance on multifamily rentals and can aid lease-up and pricing power in well-maintained assets. Neighborhood contract rents sit in the middle of the regional range, suggesting room for performance differentiation through asset quality and operations.
Within a 3-mile radius, households have increased in recent periods and are projected to expand further, with modest population growth and smaller average household sizes — dynamics that typically broaden the renter pool and support occupancy stability. According to WDSuite’s commercial real estate analysis, the property’s 1973 construction is newer than the neighborhood’s older average stock, offering relative competitiveness versus mid-century buildings while still warranting selective modernization planning as systems age.
Comparable crime metrics for this specific neighborhood were not available in WDSuite at the time of publication. Investors commonly benchmark city and metro trends alongside property-level measures (lighting, access control, and visibility) to assess risk and inform operating plans. Use regional comparisons and recent trend data to contextualize safety alongside leasing and retention considerations.
The broader Hudson Valley employment base provides commute access to corporate offices that support renter demand and retention. Notable employers within driving range include industrial gases, food & beverage, retail apparel, technology, and medical devices.
- Praxair — industrial gases (26.7 miles) — HQ
- PepsiCo — food & beverage (30.6 miles)
- Ascena Retail Group — retail apparel (31.5 miles) — HQ
- IBM — technology (32.1 miles) — HQ
- Becton Dickinson — medical devices (35.9 miles) — HQ
This 23-unit, 1973-vintage asset offers exposure to a renter-heavy neighborhood where occupancy has been above the metro median, supporting income durability relative to peers. The area’s higher-cost ownership environment versus local incomes tends to sustain reliance on rentals, while contract rents sit mid-range for the region, creating potential to differentiate through asset quality and management. Based on CRE market data from WDSuite, the property’s vintage is newer than much of the surrounding housing stock, which can be competitive versus older mid-century assets, though targeted upgrades may be prudent for long-term positioning.
Within a 3-mile radius, recent increases in households and projections for continued growth — alongside slightly smaller average household sizes — point to a gradually expanding renter base and support for occupancy stability. Limited walkable amenities in the immediate area suggest an emphasis on on-site convenience and operations to drive retention, and school ratings below national norms should be considered in underwriting and tenant-mix strategies.
- Renter-heavy neighborhood and above-metro occupancy support stable demand
- 1973 construction is newer than nearby stock, offering competitive positioning with selective updates
- Higher-cost ownership context reinforces reliance on multifamily, aiding lease retention
- 3-mile household growth and smaller household sizes expand the renter pool
- Risks: limited immediate amenities and below-average school ratings may influence leasing velocity