| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Fair |
| Demographics | 56th | Fair |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12 Elm St, Garnerville, NY, 10923, US |
| Region / Metro | Garnerville |
| Year of Construction | 2011 |
| Units | 24 |
| Transaction Date | 2011-12-07 |
| Transaction Price | $349,500 |
| Buyer | GROSS ELIMELECH |
| Seller | 10 ELM ST APARTMENTS LLC |
12 Elm St, Garnerville NY Multifamily Investment
Neighborhood occupancy is strong and ownership costs are elevated for the area, supporting durable renter demand, according to WDSuite s CRE market data. With a 2011 build and modest scale, the asset can compete on quality while targeting stable cash flow.
The immediate neighborhood sits within the New York Jersey City White Plains metro and shows competitive occupancy dynamics. WDSuite s CRE market data places the neighborhood s occupancy in the top quartile nationally and competitive among 889 metro neighborhoods, a constructive backdrop for lease-up and renewal stability.
Local amenity access is mixed: grocery, parks, and pharmacy availability test above national midpoints, while restaurant and caf e densities track closer to or below average. For residents, that combination supports daily convenience but may require short drives for broader dining or caf e options.
The property s 2011 vintage is newer than the neighborhood s typical 1980s housing stock (average 1984). For investors, newer construction can translate to better near-term competitiveness versus older rentals, though standard capital planning for systems and unit refreshes still applies over a hold period.
Tenure patterns vary by geography. Within the immediate neighborhood, renter-occupied share is relatively low, signaling a more ownership-oriented area and potentially fewer direct multifamily comps. Within a 3-mile radius, the renter concentration is closer to one-quarter of housing units, widening the effective tenant base and supporting demand capture beyond the immediate blocks.
Three-mile demographics indicate population growth over the past five years with further expansion projected, alongside gains in households and a sizable upper-income profile. Elevated home values relative to national benchmarks point to a high-cost ownership market, which tends to sustain reliance on multifamily housing and can support pricing power when paired with solid occupancy.
School ratings in the neighborhood track below national averages, which is worth factoring into marketing strategy if targeting family renters. Still, the broader suburban context and commuting access within the metro can appeal to workforce households prioritizing space and stability.
Comparable, property-specific crime metrics are not available in this dataset. Investors typically benchmark neighborhood safety by comparing multi-year trends to metro and national patterns rather than relying on block-level readings.
A prudent approach is to review recent trend data at the neighborhood and city levels, cross-checking with management feedback and lender diligence to understand how safety perceptions may influence leasing velocity and retention.
A diverse set of corporate offices within commuting distance underpins renter demand through steady white-collar employment, supporting retention and leasing fundamentals. Nearby anchors include Ascena Retail Group, PepsiCo, Prudential Financial, IBM, and Becton Dickinson.
- Ascena Retail Group retail apparel corporate offices (12.1 miles) HQ
- PepsiCo food & beverage corporate offices (12.4 miles)
- Prudential Financial insurance corporate offices (15.9 miles)
- IBM technology corporate offices (16.2 miles) HQ
- Becton Dickinson medical technology corporate offices (16.4 miles) HQ
12 Elm St offers a 2011-vintage, 24-unit footprint in a suburban Rockland County location where neighborhood occupancy trends are strong and home values remain elevated. Based on CRE market data from WDSuite, the area s occupancy ranks competitively within the metro and in the top quartile nationally, reinforcing an investment case centered on tenant retention and steady cash flow rather than heavy lease-up risk.
The asset s newer construction versus the area s 1980s average supports relative competitiveness against older stock, while the 3-mile radius shows population and household growth that can expand the renter pool. Although the immediate neighborhood skews more owner-occupied and school ratings are below national averages, broader commuter access and a concentration of nearby corporate offices help sustain workforce demand.
- Occupancy strength: competitive within the metro and top quartile nationally, supporting renewal stability.
- 2011 construction provides competitive positioning versus older local stock with manageable near-term CapEx planning.
- High-cost ownership market reinforces multifamily demand and can support disciplined pricing.
- 3-mile growth in population and households indicates a larger tenant base over time.
- Risks: lower local renter concentration and below-average school ratings may narrow certain renter segments; marketing and amenity strategy should reflect this.