| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 80th | Best |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 99 Forester Ave, Warwick, NY, 10990, US |
| Region / Metro | Warwick |
| Year of Construction | 1978 |
| Units | 35 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
99 Forester Ave Warwick Multifamily Value-Add Opportunity
Neighborhood fundamentals indicate steady renter demand and manageable affordability pressures, according to WDSuite’s CRE market data. A+ neighborhood rating and balanced amenities support occupancy stability for a 35-unit asset in suburban Warwick.
Located in the Warwick neighborhood of the Poughkeepsie–Newburgh–Middletown metro, this asset benefits from an A+ neighborhood rating and a neighborhood rank of 3 among 221 metro neighborhoods, signaling competitive positioning within the region. Park access trends in the top quartile nationally, and average school ratings are strong (4.0), which typically supports family-oriented renter retention, based on CRE market data from WDSuite.
Amenities skew toward everyday convenience rather than density entertainment: parks are comparatively abundant (national 85th percentile) and pharmacies score well (72nd percentile), while cafe density is limited. This mix can favor stable tenancy among households prioritizing schools and open space. Median home values in the neighborhood are elevated relative to national norms, and a value-to-income ratio near the upper range locally suggests a higher-cost ownership market—conditions that can reinforce reliance on rental housing and sustain multifamily demand.
Renter-occupied housing comprises roughly one-third of neighborhood units (about 33% renter concentration), indicating a moderate tenant base for small to mid-sized multifamily. The neighborhood occupancy rate is measured at approximately 90% (neighborhood-level occupancy, not property-specific), which is around the middle of national distributions and suggests stable operations with disciplined lease management.
Within a 3-mile radius, recent data show a slight population contraction but a modest increase in households, with forecasts calling for additional household growth and smaller average household sizes. That dynamic typically expands the renter pool and supports leasing velocity for well-maintained units. Neighborhood rent-to-income metrics indicate affordability pressure is manageable for renters (neighborhood-level measure), which can aid retention and reduce turnover risk.
The property was built in 1978 versus a neighborhood average vintage around the mid-1980s, making it older than much of the local stock. Investors should underwrite near-term capital planning and consider targeted renovations to enhance competitiveness and capture value-add upside.
Comparable crime metrics for this neighborhood are not reported in WDSuite’s current dataset. Investors typically benchmark neighborhood safety against metro and national trends and supplement with local police reports and property-level history to assess risk and mitigation strategies.
Regional corporate offices within commuting range provide a diversified white-collar employment base that can support renter demand and lease retention, including Ascena Retail Group, Becton Dickinson, Toys "R" Us, Airgas, and Prudential Financial.
- Ascena Retail Group — corporate offices (15.5 miles) — HQ
- Becton Dickinson — medical technology corporate offices (18.0 miles) — HQ
- Toys "R" Us — retail corporate offices (19.5 miles) — HQ
- Airgas Lincoln Park — industrial gases corporate offices (23.3 miles)
- Prudential Financial — financial services corporate offices (23.9 miles)
This 35-unit property’s investment case centers on stable suburban demand drivers, an A+ neighborhood profile, and the potential to modernize a 1978 vintage asset to improve competitive standing versus slightly newer local stock. Elevated ownership costs and solid schools support renter retention, while neighborhood occupancy near the middle of national distributions points to dependable, management-driven performance.
Household growth within a 3-mile radius and smaller forecast household sizes imply a gradual renter pool expansion that benefits well-positioned units. According to CRE market data from WDSuite, neighborhood-level rent-to-income conditions appear manageable, which can underpin lease stability if renovations are balanced with pricing discipline.
- Strong neighborhood quality (A+; competitive rank within metro) supports tenant retention and long-term liquidity.
- Elevated ownership costs and solid schools reinforce sustained rental demand in a suburban setting.
- 1978 vintage offers value-add potential through targeted renovations and systems upgrades.
- Household growth and smaller household sizes (3-mile radius) suggest a broader renter base over time.
- Risk: older vintage and moderate neighborhood occupancy require prudent capex planning and disciplined lease management.