| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Fair |
| Demographics | 56th | Fair |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 14 Elm St, Garnerville, NY, 10923, US |
| Region / Metro | Garnerville |
| Year of Construction | 2011 |
| Units | 24 |
| Transaction Date | 2013-08-30 |
| Transaction Price | $349,500 |
| Buyer | TAUBER MICHAEL |
| Seller | RAMAPO LOCAL DEVELOPMENT CORP |
14 Elm St, Garnerville NY Multifamily Investment
Neighborhood-level occupancy is strong and historically resilient, supporting stable leasing potential for a 2011-vintage, 24-unit asset, according to WDSuite’s CRE market data. Newer construction relative to local stock can enhance competitive positioning while keeping capital plans focused on targeted modernization over time.
Located in suburban Garnerville within the New York–Jersey City–White Plains metro, the property sits in a neighborhood where occupancy is in the 94th national percentile and ranks 67 out of 889 metro neighborhoods — competitive among metro peers and supportive of leasing stability. Note that this occupancy insight reflects the neighborhood, not the property.
The asset’s 2011 construction is newer than the neighborhood’s average vintage of 1984, which generally improves curb appeal and operating efficiency versus older comparables. Investors should still plan for age-appropriate system updates and selective renovations to preserve competitive standing over the hold period.
Livability indicators suggest balanced convenience. Parks and pharmacies track around the 74th national percentile, while grocery access trends near the upper-middle range and restaurants align closer to national averages. Average school ratings in the area trend below national midpoints, which may influence resident preferences for family renters; operators can offset with amenities and service consistency.
Within a 3-mile radius, demographics show a growing demand base: population and household counts have increased in recent years, with projections indicating further population growth by 2028 that could expand the renter pool. Renter-occupied housing accounts for roughly one-quarter of units locally, indicating an owner-tilted market but a meaningful tenant base for multifamily operators. Elevated home values (around the 86th national percentile) alongside higher household incomes (about the 88th percentile) characterize a high-cost ownership market, which can sustain reliance on rental housing and support retention for well-managed properties.
Neighborhood-specific crime metrics are not available from WDSuite for this area. Investors typically benchmark local safety using county and metro comparisons and observe on-the-ground conditions over multiple dayparts to contextualize risk. As with most suburban locations, prudent measures such as lighting, access control, and coordination with local authorities can support resident satisfaction and retention.
The broader employment base includes corporate offices within commuting distance that can support renter demand through steady professional jobs and convenient access. Notable nearby employers include Ascena Retail Group, PepsiCo, Prudential Financial, IBM, and Becton Dickinson.
- Ascena Retail Group — corporate offices (12.1 miles) — HQ
- Pepsico — corporate offices (12.4 miles)
- Prudential Financial — corporate offices (15.9 miles)
- Ibm — corporate offices (16.2 miles) — HQ
- Becton Dickinson — corporate offices (16.4 miles) — HQ
14 Elm St offers a relatively new 2011 vintage in a suburban Rockland County location where neighborhood occupancy ranks 67 of 889 metro neighborhoods and sits in the 94th national percentile — a constructive backdrop for cash flow durability. Based on CRE market data from WDSuite, the area’s high-cost ownership landscape and rising 3-mile population and household counts point to a deeper tenant base and support for sustained rent rolls, while the renter share remains meaningful despite an owner-leaning market.
Operationally, the property’s newer construction should remain competitive against older stock, though investors should plan for targeted system updates as the asset advances in age. Amenities and professional management can help offset average school ratings and moderate neighborhood amenity depth, with proximity to regional employers providing an additional leasing tailwind.
- Neighborhood occupancy in the top decile nationally supports leasing stability
- 2011 vintage competes well versus older local stock; plan selective upgrades
- High-cost ownership market and income strength reinforce multifamily demand
- Regional corporate employers within commuting distance aid retention
- Risks: owner-tilted tenure, average school ratings, and moderate amenity depth