| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Poor |
| Demographics | 44th | Poor |
| Amenities | 27th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1213 Route 52, Carmel, NY, 10512, US |
| Region / Metro | Carmel |
| Year of Construction | 1975 |
| Units | 30 |
| Transaction Date | 1997-10-30 |
| Transaction Price | $1,000,000 |
| Buyer | ZINK INC |
| Seller | KENT ASSOC |
1213 Route 52, Carmel NY Multifamily Investment
Neighborhood occupancy is currently full and has trended higher over the past five years, according to WDSuite’s CRE market data, signaling stable renter demand at the neighborhood level rather than the property itself. Mid-70s vintage and smaller average unit sizes suggest a workforce-oriented tenant profile with potential to improve revenue through targeted interior updates.
This suburban location in Carmel sits within the New York–Jersey City–White Plains corridor, offering quiet residential character and access to regional employment. The neighborhood’s occupancy measures at the top of the metro (ranked 1 of 889 and 100th percentile nationally), a positive indicator of leasing durability for the neighborhood, not the asset specifically, based on CRE market data from WDSuite.
Ownership costs are elevated for the area (home values sit in the upper quartile nationally), while household incomes trend in the top decile. This combination typically supports rental pricing power and retention because many households remain in a high-cost ownership market and rely on multifamily options, particularly for efficient units.
Amenity density is modest, with restaurants and groceries around national medians and limited park, cafe, and pharmacy counts. Childcare access trends above the national midpoint, which can be supportive for working households. Investors should underwrite convenience more to regional road access and daily-needs retail than to walkable lifestyle amenities.
Within a 3-mile radius, the population has edged down slightly in recent years, but household counts have held roughly steady and are projected to increase by mid-decade. That pattern points to a stable or expanding tenant base even amid demographic shifts. The renter concentration is lower than the national norm in neighborhood statistics, which can translate to steadier but thinner demand—appropriate for smaller properties catering to local workforce renters.
Comparable neighborhood-level safety metrics are not published in this data extract. Investors typically benchmark safety using county and metro trend reports and confirm on-the-ground conditions through local sources. A prudent approach is to evaluate multi-year trends and compare them to nearby suburban peers to contextualize tenant retention and insurance considerations.
Regional employment is anchored by a mix of advanced manufacturing, corporate services, and technology headquarters within commuting distance, supporting workforce housing demand and lease stability for properties serving commuters to these hubs.
- Praxair — industrial gases HQ (11.1 miles) — HQ
- IBM — technology & services (27.2 miles) — HQ
- EMCOR Group — construction & facilities services (27.7 miles) — HQ
- Frontier Communications — telecommunications (27.7 miles) — HQ
- Xerox — business services & equipment (27.9 miles)
1213 Route 52 is a 30-unit asset built in 1975, slightly newer than the neighborhood’s average vintage. That positioning offers relative competitiveness versus older local stock while still presenting value-add potential through modernization of building systems and in-unit finishes. Neighborhood occupancy trends sit at the top of the metro, which, per commercial real estate analysis from WDSuite, indicates durable demand at the neighborhood level and supports underwriting for stable leasing.
Within a 3-mile radius, household incomes are strong and household counts are expected to rise even as population eases, suggesting a resilient tenant base and steady absorption for smaller, efficiency-oriented units. Elevated ownership costs in the area further sustain reliance on rentals, which can aid retention and modest pricing power when paired with targeted upgrades.
- Top-of-metro neighborhood occupancy supports stability at the neighborhood level
- 1975 vintage offers value-add and systems modernization upside versus older nearby stock
- Strong incomes and projected household growth (3-mile radius) reinforce renter demand
- Elevated ownership costs bolster renter reliance, aiding retention and pricing power
- Risks: thinner renter concentration and limited walkable amenities require targeted leasing and careful expense control