| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Fair |
| Demographics | 56th | Fair |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7 Elm St, Garnerville, NY, 10923, US |
| Region / Metro | Garnerville |
| Year of Construction | 2012 |
| Units | 24 |
| Transaction Date | 2014-04-09 |
| Transaction Price | $369,000 |
| Buyer | MANDELBAUM MORDECHAI |
| Seller | BERKOWITZ CHAIM |
7 Elm St Garnerville Multifamily — 2012 Vintage, 24 Units
Newer construction relative to the metro’s older stock and a high neighborhood occupancy backdrop suggest durable leasing, according to WDSuite’s CRE market data and commercial real estate analysis. Occupancy figures cited reflect the surrounding neighborhood, not the property.
The immediate neighborhood shows strong occupancy conditions, with the area ranking 67 out of 889 metro neighborhoods and sitting in the top quartile nationally for occupied housing — an indicator of leasing stability rather than property-specific performance, based on CRE market data from WDSuite. While the neighborhood’s renter-occupied share is low relative to the metro, the broader 3-mile radius aggregates a larger renter base and is projected to see population and household growth, supporting depth of demand for multifamily over time.
Local housing stock trends newer than much of the region (the average neighborhood construction year ranks 111 of 889), which generally supports competitiveness for 2010s assets. At the same time, cafes and childcare density are limited, while grocery, parks, and pharmacy access track above the national median, indicating day-to-day convenience without a heavy retail amenity concentration.
Ownership costs are elevated versus many U.S. neighborhoods (home values sit in a high national percentile), which can sustain reliance on rental housing and aid retention for well-positioned properties. School ratings are around the metro median but below the national midpoint, a consideration for family-oriented tenancy and unit mix strategy.
Within a 3-mile radius, demographic statistics indicate recent and projected gains in population and households, which points to a gradually expanding tenant base and potential support for occupancy stability. Framing these neighborhood and radius trends together, investors can expect steady renter demand drivers even as the immediate block group cluster has a modest renter concentration.
Neighborhood-level safety metrics are not available in WDSuite for this location. Investors typically contextualize safety by comparing neighborhood trends to metro and national benchmarks when data are accessible and by tracking multi-year direction rather than single-period snapshots.
The employment base within commuting range mixes retail apparel, food and beverage, financial services, technology, and medical devices — a diversified set of office employers that can support workforce housing demand and retention. The list below reflects nearby corporate offices and headquarters by proximity.
- Ascena Retail Group — retail apparel (12.2 miles) — HQ
- PepsiCo — food & beverage corporate offices (12.4 miles)
- Prudential Financial — financial services offices (16.0 miles)
- IBM — technology corporate offices (16.2 miles) — HQ
- Becton Dickinson — medical devices corporate offices (16.5 miles) — HQ
Built in 2012 with 24 units, 7 Elm St competes well against older neighborhood stock while benefiting from an area that, according to CRE market data from WDSuite, reports top-quartile neighborhood occupancy — a supportive backdrop for stable leasing. Elevated regional home values reinforce renter reliance on multifamily housing, and 3-mile demographics point to population and household growth that can expand the tenant base over the medium term.
Key considerations include a modest renter-occupied share within the immediate neighborhood, school ratings below the national midpoint, and a thinner cafe/childcare amenity layer; however, proximity to diversified employment nodes and day-to-day services, combined with the asset’s newer vintage, should help sustain competitive positioning. Investors may still plan for selective mid-life systems updates and common-area refreshes during the hold.
- 2012 vintage offers competitive positioning versus older local stock, with potential value-add via targeted updates
- Top-quartile neighborhood occupancy supports leasing stability (neighborhood metric, not property-specific)
- High-cost ownership market helps sustain multifamily demand and retention dynamics
- Nearby corporate employers diversify demand drivers within a practical commute radius
- Risks: modest local renter concentration and below-national-median school ratings may temper family-focused demand