| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 22nd | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 497 Liberty St, Newburgh, NY, 12550, US |
| Region / Metro | Newburgh |
| Year of Construction | 2000 |
| Units | 38 |
| Transaction Date | 1996-04-30 |
| Transaction Price | $360,000 |
| Buyer | ILARI GROUP REALTY CORP |
| Seller | LIBERTY STREET LP |
497 Liberty St Newburgh Multifamily Investment Outlook
Renter demand in the surrounding neighborhood appears resilient with occupancy trending steady, according to WDSuite’s CRE market data, supporting income stability for well-managed assets. This commercial real estate analysis points to a durable tenant base despite modest local amenity density.
The property sits in an Inner Suburb pocket of Newburgh with neighborhood occupancy at 94.5%, which is above the metro median among 221 neighborhoods, based on CRE market data from WDSuite. A renter-occupied share near 56% indicates a meaningful renter concentration, translating to a deeper tenant base for multifamily owners and potential support for occupancy stability.
At the same time, local storefront density is limited within the neighborhood (few cafes, groceries, restaurants, or parks), so residents often rely on nearby corridors for services. School scores trend below national norms, which may narrow some family-driven demand, but workforce-oriented demand can still anchor leasing where rents are positioned to the submarket.
Home values in the area are elevated relative to local incomes, a high-cost ownership context that typically sustains reliance on rental housing and can bolster lease retention for competitively priced properties. For investors conducting multifamily property research, these conditions suggest pricing power should be set thoughtfully to balance demand depth and renewal outcomes.
Demographic statistics within a 3-mile radius show recent population and household growth with further increases forecast, which can expand the renter pool and support absorption. This growth, paired with a neighborhood housing profile that leans renter-occupied, points to stable demand drivers even as on-block amenities remain thin.
Neighborhood-level crime metrics are not available in WDSuite for this location at the time of publication. Investors typically benchmark safety perceptions against city and metro trends, property operations (lighting, access control), and tenant profile when underwriting retention and rent levels.
Given the absence of verified ranks or percentiles for the neighborhood among the 221 metro areas tracked here, treat safety as a diligence item: compare to nearby submarkets, evaluate recent trend direction from public sources, and consider property-level measures that support resident comfort and leasing performance.
Regional employers within commuting range help underpin workforce housing demand, with proximity to advanced manufacturing, consumer goods, and healthcare corporates that can support tenant retention. The list below reflects notable corporate offices accessible from the neighborhood.
- Praxair — industrial gases (26.4 miles) — HQ
- PepsiCo — food & beverage (30.5 miles)
- Ascena Retail Group — apparel retail (31.5 miles) — HQ
- IBM — technology & services (31.9 miles) — HQ
- Becton Dickinson — medical technology (35.9 miles) — HQ
497 Liberty St is a 38-unit asset built in 2000, materially newer than the neighborhood’s older housing stock. That vintage can offer competitive positioning versus pre-1960 properties while still leaving room for targeted modernization and systems updates to drive rent premiums. According to CRE market data from WDSuite, the surrounding neighborhood shows above-median occupancy among 221 metro neighborhoods and a high share of renter-occupied units, both supportive of demand durability when pricing and finishes align to the submarket.
Within a 3-mile radius, recent and forecast increases in population and households point to a larger tenant base over time, which can aid lease-up and renewal performance. Elevated ownership costs relative to local incomes tend to reinforce rental demand, while limited on-block amenities and lower school ratings suggest owners should emphasize value, security, and convenience in operations to sustain retention.
- 2000 vintage provides competitive edge versus older local stock with value-add potential through selective renovations.
- Above-metro-median neighborhood occupancy and high renter concentration support steady leasing fundamentals.
- 3-mile area shows population and household growth, expanding the renter pool and aiding absorption and renewals.
- High-cost ownership market can bolster renter reliance, supporting retention for well-positioned units.
- Risks: limited neighborhood amenities and lower school ratings; manage with competitive unit finishes, security measures, and service quality to support retention.