| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 49th | Fair |
| Amenities | 53rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 34 Putnam Ave, Brewster, NY, 10509, US |
| Region / Metro | Brewster |
| Year of Construction | 1980 |
| Units | 30 |
| Transaction Date | 2010-03-22 |
| Transaction Price | $2,055,000 |
| Buyer | 2226 ADAMS PLACE REALTY CORP |
| Seller | BREWSTER REALTY PARTNERS |
34 Putnam Ave Brewster Multifamily Investment Opportunity
Neighborhood fundamentals indicate steady renter demand and high neighborhood occupancy, according to WDSuite’s CRE market data. Investors should view this Inner Suburb location as a stable hold with pricing set by regional commuters rather than downtown volatility.
Brewster’s Inner Suburb setting offers day-to-day convenience with a balanced amenity mix. Cafe density sits well above national norms (91st percentile), while grocery and restaurant access track solidly above average (both in the 70s percentiles), based on CRE market data from WDSuite. These are neighborhood-level indicators and speak to local livability rather than any single property.
For investors evaluating income durability, the neighborhood’s occupancy performance ranks 173 out of 889 metro neighborhoods — top quartile among New York–Jersey City–White Plains subareas and top quartile nationally (86th percentile). That positioning typically supports lease-up efficiency and reduces downtime risk relative to weaker submarkets.
Tenure and demand signals are supportive. Neighborhood metrics point to a sizable share of renter-occupied housing units, which deepens the tenant base. Within a 3-mile radius, population and households have grown over the past five years and are projected to expand through 2028, with slightly smaller average household sizes — dynamics that generally expand the renter pool and support occupancy stability.
Ownership costs are elevated for the area (home values around the 70th national percentile and value-to-income ratio around the mid-60s percentiles). For multifamily investors, that context tends to sustain reliance on rental housing, aiding retention and measured pricing power. Neighborhood rents benchmark above national norms, while rent-to-income levels indicate manageable affordability pressure; lease management should focus on renewals to preserve occupancy.
Vintage also matters: the subject property was built in 1980, newer than the neighborhood’s average construction year (1958). This generally improves competitive positioning versus older stock, though investors should still plan for modernization of aging systems and targeted common-area upgrades to capture value-add upside.
Comparable, neighborhood-level crime benchmarks are not available in WDSuite for this area. Investors typically review municipal reports, recent police blotter summaries, and owner/insurer loss runs to contextualize safety alongside property operations and tenant retention. When reliable metro comparisons are accessible, they should be used to frame trends rather than block-level conclusions.
The employment base includes nearby corporate offices that draw professional and technical workers, supporting renter demand and commute convenience for residents. Notable employers include Praxair, EMCOR Group, Frontier Communications, Xerox, and IBM.
- Praxair — industrial gases (4.8 miles) — HQ
- EMCOR Group — construction & facilities services (20.2 miles) — HQ
- Frontier Communications — telecommunications (20.2 miles) — HQ
- Xerox — technology & document services (20.3 miles) — HQ
- IBM — technology & services (20.9 miles) — HQ
34 Putnam Ave offers investors a 30-unit, 1980-vintage asset positioned in a neighborhood with top-quartile occupancy among 889 metro neighborhoods, indicating strong leasing resilience relative to the wider region. Amenity access outperforms national averages, and elevated ownership costs in the area reinforce reliance on multifamily housing — factors that tend to support rent collections and retention across cycles, according to CRE market data from WDSuite.
Demographic indicators aggregated within a 3-mile radius point to ongoing population and household growth through 2028 and slightly smaller household sizes, which generally expands the renter pool. Given the property’s newer-than-local-average vintage, targeted system upgrades and common-area improvements could unlock value-add potential versus older competing stock while maintaining operational stability.
- Top-quartile neighborhood occupancy supports leasing stability and reduced downtime risk.
- Amenity access and commuter-oriented location underpin steady renter demand.
- Elevated home values sustain reliance on rentals, aiding retention and measured pricing power.
- 1980 vintage offers value-add potential via targeted modernization versus older local stock.
- Risks: affordability pressures and aging systems require disciplined capex and renewal strategy.