| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 50th | Fair |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 33 Oak St, Walden, NY, 12586, US |
| Region / Metro | Walden |
| Year of Construction | 1988 |
| Units | 60 |
| Transaction Date | 2015-01-16 |
| Transaction Price | $3,603,500 |
| Buyer | STRATFORD REAL ESTATE HOLDINGS LLC |
| Seller | WALDEN CENTER ASSOCIATES |
33 Oak St Walden Multifamily Investment
Neighborhood fundamentals indicate steady renter demand and above-median occupancy for the area, according to WDSuite s CRE market data. Investors should view this as a small-market asset with stable tenancy drivers reinforced by a balanced rent-to-income profile in the surrounding neighborhood.
Positioned in Walden s Inner Suburb fabric, the neighborhood rates highly overall (A) and ranks 13 out of 221 across the Poughkeepsie Newburgh Middletown, NY metro competitive among metro neighborhoods. Amenity access scores above national norms, with food, caf s, groceries, parks, and pharmacies all testing in the upper national percentiles, supporting day-to-day convenience that can aid leasing and retention.
Neighborhood occupancy is reported at 92.3% (neighborhood level), suggesting relatively steady absorption and rent roll stability compared with broader U.S. patterns. The share of renter-occupied housing units is higher than many locations nationally, indicating a deeper tenant base for multifamily assets and potential resilience through cycles.
Within a 3-mile radius, population has expanded in recent years and households have grown at a faster pace, pointing to a larger tenant pool and support for occupancy stability going forward. Forecasts call for continued growth in households and incomes by the next five-year window, which can underpin rent performance as new renters enter the market.
Ownership costs are elevated relative to local incomes at the neighborhood level (high national percentile for value-to-income and above-average home values). In practice, a high-cost ownership market tends to sustain reliance on rental housing, supporting pricing power and retention when paired with rent-to-income levels that remain manageable at the neighborhood scale.
The average neighborhood construction year trends older (1930), while the subject property was built in 1988. Newer relative vintage can enhance competitive positioning versus older stock; investors may still plan for modernization and system upgrades as part of a value-add or capital planning strategy. Average public school ratings in the area are modest, which may be a consideration for family-oriented demand, even as amenity access remains a strength.
Comparable, metro-ranked crime data for this specific neighborhood is not available in WDSuite at this time. Without consistent rank or percentile benchmarks, investors should reference multiple sources to assess safety trends and consider broader municipal statistics and on-the-ground diligence when underwriting.
Regional employers within commuting distance help support renter demand through a diversified white-collar and industrial base, including Ascena Retail Group, Praxair, PepsiCo, Becton Dickinson, and IBM.
- Ascena Retail Group corporate offices (33.6 miles) HQ
- Praxair industrial gases (36.3 miles) HQ
- Pepsico consumer goods (37.5 miles)
- Becton Dickinson medical technology (37.7 miles) HQ
- IBM technology & corporate offices (39.8 miles) HQ
Built in 1988 with 60 units, the asset benefits from a neighborhood that tests strong on convenience amenities and shows above-median occupancy at the neighborhood level. According to CRE market data from WDSuite, the area s rent-to-income profile remains relatively manageable while ownership costs are elevated, a mix that can reinforce renter reliance on multifamily housing and support retention.
Households within a 3-mile radius have been increasing and are projected to expand further, indicating a growing tenant base that can aid occupancy stability. Relative vintage versus older neighborhood stock provides positioning for light value-add or modernization to capture demand, while investors should account for modest school ratings and normal course capex associated with late-1980s construction.
- Neighborhood-level occupancy and amenity access support leasing stability
- Rent-to-income balance with elevated ownership costs sustains multifamily demand
- 1988 vintage offers value-add and modernization potential versus older nearby stock
- Growing 3-mile household base points to a larger tenant pool over time
- Risks: modest school ratings and standard capex for 1980s systems may affect underwriting