| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Good |
| Demographics | 67th | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16 Cherry St, Warwick, NY, 10990, US |
| Region / Metro | Warwick |
| Year of Construction | 1980 |
| Units | 22 |
| Transaction Date | 1996-10-28 |
| Transaction Price | $119,000 |
| Buyer | REINHARDT PATRICIA |
| Seller | KUNATH CLAUDIA L |
16 Cherry St Warwick Multifamily Value-Add Opportunity
Renter demand within a 3-mile radius is set to expand as households grow even with flat population trends, according to WDSuite s CRE market data, supporting stable leasing for well-managed assets.
Situated in suburban Warwick (Poughkeepsie Newburgh Middletown metro), the neighborhood is rated A and ranks 27 out of 221 metro neighborhoods , placing it in the top quartile locally. For investors, that positioning signals durable fundamentals relative to many nearby submarkets, with a tenant base supported by steady incomes and lifestyle conveniences.
Amenities skew toward daily needs and dining rather than cafes or specialty grocery. Restaurant density tracks in the top decile nationally, while pharmacies and park access are also above national averages. By contrast, cafe and traditional grocery options are thinner in the immediate area. The mix suggests residents rely on nearby town centers and regional retail for variety, but day-to-day services remain convenient.
Tenure dynamics point to an owner-leaning area with a renter-occupied share around one-third of housing units. For multifamily owners, that indicates a defined but competitive renter pool, with leasing supported by a high-cost ownership market (home values rank in the upper quartiles nationally). Neighborhood occupancy is below the metro median based on local rankings, implying that hands-on operations and positioning can matter for outperformance.
Within a 3-mile radius, households have increased and are projected to rise further, even as overall population holds roughly flat. This pattern reflects smaller household sizes and modest renter pool expansion, which can support occupancy stability and retention for well-located, well-maintained properties. Household incomes are comparatively strong in this trade area, helping sustain rent levels without overreliance on outsized concessions.
Neighborhood-level crime metrics were not available in the current WDSuite release for this location. Investors typically benchmark safety by comparing neighborhood trends to metro peers and reviewing property-level measures (lighting, access control, visibility to main corridors) as part of due diligence and underwriting.
Regional corporate offices within commuting distance help underpin demand from professionals who value proximity to established employers. The following nearby firms illustrate the corporate base accessible from Warwick.
- Ascena Retail Group corporate offices (16.1 miles) HQ
- Becton Dickinson medical technology corporate offices (18.6 miles) HQ
- Toys "R" Us corporate offices (20.1 miles) HQ
- Airgas Lincoln Park industrial gases corporate offices (23.8 miles)
- Prudential Financial financial services corporate offices (24.5 miles)
Built in 1980, the 22-unit property offers a practical value-add path: modernizations can enhance competitiveness versus older neighborhood stock while addressing aging systems typical of late-20th-century assets. The location sits in an A-rated, top-quartile neighborhood for the metro, where strong household incomes and elevated ownership costs support a consistent renter base. According to CRE market data from WDSuite, neighborhood restaurant, pharmacy, and park access rank above national norms, adding to day-to-day livability even as cafe and traditional grocery options are thinner.
Within a 3-mile radius, households have trended up and are projected to increase further despite flat population. This indicates smaller household sizes and a gradual renter pool expansion, which can help sustain occupancy and leasing velocity. Home values are high relative to national benchmarks, reinforcing multifamily reliance for many residents and supporting pricing power for well-positioned units. Neighborhood occupancy ranks below the metro median, so focused asset management and targeted repositioning can be meaningful drivers of performance.
- 1980 vintage supports a clear value-add thesis through system updates and unit refreshes
- A-rated, top-quartile neighborhood in the metro with strong household incomes
- Household growth and rising renter share within 3 miles expand the tenant base and support occupancy stability
- Elevated ownership costs locally help sustain multifamily demand and lease retention
- Risk: neighborhood occupancy is below metro median, requiring disciplined operations and leasing strategy