| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Fair |
| Demographics | 56th | Fair |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10 Elm St, Garnerville, NY, 10923, US |
| Region / Metro | Garnerville |
| Year of Construction | 2011 |
| Units | 36 |
| Transaction Date | 2022-07-27 |
| Transaction Price | $683,000 |
| Buyer | RETEK MORDECHAI |
| Seller | KLEIN NAFTALI |
10 Elm St Garnerville NY Multifamily Investment
Neighborhood occupancy trends point to durable income potential and limited downtime, according to WDSuite’s CRE market data. The location’s suburban fundamentals and strong for-sale pricing support steady renter demand for well-run assets.
Located in suburban Garnerville within the New York–Jersey City–White Plains metro, the property benefits from a neighborhood occupancy level that ranks 67th of 889 metro neighborhoods and sits in the top quartile nationally. This indicates tight local supply-demand balance at the neighborhood level, not the property, and supports lease-up and renewal stability for nearby multifamily assets.
Everyday amenities are present but not dense. Grocery, parks, and pharmacy access trend around the 74th national percentile, while cafe and childcare density is lighter, suggesting residents rely on nearby corridors for some services. Average school ratings are below national norms (about the 37th percentile), which investors should weigh when positioning for family-oriented renters.
Within a 3-mile radius, demographics signal a stable and expanding tenant base: population increased modestly over the last five years with projections for further population growth and a notable increase in households, pointing to a larger renter pool over the next cycle. The share of housing units that are renter-occupied is roughly one quarter today, indicating a defined—though not saturated—renter audience that can support absorption of quality units.
Home values in the immediate neighborhood are elevated (around the 86th national percentile), and household incomes are high relative to national benchmarks. In practice, a high-cost ownership market can reinforce reliance on well-managed rentals, helping sustain retention and pricing power when properties deliver competitive finishes and professional operations.
Comparable crime metrics for this specific neighborhood are not available in WDSuite’s current release. Investors commonly benchmark safety using municipal and county trend sources alongside on-the-ground observations to understand how conditions compare to surrounding Rockland County and the broader New York–Jersey City–White Plains metro.
Regional employment anchors within commuting range include Ascena Retail Group, PepsiCo, Prudential Financial, IBM, and Becton Dickinson—supporting steady renter demand from professionals seeking suburban convenience.
- Ascena Retail Group — retail apparel HQ (12.1 miles) — HQ
- PepsiCo — food & beverage corporate offices (12.4 miles)
- Prudential Financial — financial services offices (16.0 miles)
- IBM — technology & services HQ (16.2 miles) — HQ
- Becton Dickinson — medical technology HQ (16.4 miles) — HQ
Built in 2011, the asset is newer than much of the local housing stock (neighborhood average vintage is the mid-1980s), providing a competitive position versus older properties while still allowing for selective upgrades over time to support rent growth and retention. Tight neighborhood occupancy—measured for the neighborhood, not this property—signals demand resilience and limited downtime risk when units are well maintained.
High home values and strong household incomes in the area underscore a high-cost ownership landscape that can sustain multifamily demand. Within a 3-mile radius, recent population gains and a projected increase in households suggest a larger tenant base ahead, which can support occupancy stability and disciplined rent management. According to CRE market data from WDSuite, the neighborhood ranks competitively for occupancy within the metro, reinforcing the thesis for stable cash flow with prudent operations.
- 2011 vintage offers competitive positioning versus older stock, with targeted value-add potential through modernization
- Tight neighborhood occupancy supports leasing stability and renewal performance
- Elevated home values and incomes reinforce renter reliance on quality multifamily housing
- 3-mile radius shows household growth projections, pointing to an expanding renter pool
- Risks: lighter cafe/childcare density and below-average school ratings may narrow some renter segments