| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Fair |
| Demographics | 39th | Poor |
| Amenities | 61st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15 W Broad St, Haverstraw, NY, 10927, US |
| Region / Metro | Haverstraw |
| Year of Construction | 1988 |
| Units | 36 |
| Transaction Date | 2006-04-11 |
| Transaction Price | $3,975,000 |
| Buyer | 15-19 BROAD ST LLC |
| Seller | ADKOD REALTY LLC |
15 W Broad St Haverstraw Multifamily Investment
Renter-occupied housing is prevalent in the immediate neighborhood, supporting depth of tenant demand, according to CRE market data from WDSuite. Occupancy trends sit near national medians, positioning a 36-unit asset to compete on livability and value without relying on outsized rent growth.
Located in Haverstraw’s Urban Core, the area offers dense daily-needs access that supports leasing and retention. Restaurants and cafes benchmark in the upper national percentiles, and grocery options are similarly strong, providing convenience that helps reduce friction at renewal. Parks and pharmacies are scarcer locally, which may modestly temper lifestyle appeal and should be considered in marketing strategy.
The neighborhood’s renter-occupied share is high relative to U.S. norms (91st percentile nationally), indicating a sizable tenant base and steady multifamily demand rather than reliance on homeowner move-outs. Neighborhood occupancy is around the national median, suggesting stable but competitive conditions where operations and service quality can drive performance.
Vintage matters: the property was built in 1988, notably newer than much of the surrounding housing stock (average vintage skews mid-century). That positioning can be competitive versus older assets while still warranting targeted modernization and systems planning to sustain rentability.
Within a 3-mile radius, recent population and household counts have been relatively flat to slightly down, but WDSuite’s projections point to household growth over the next five years, which would expand the local renter pool and support occupancy stability. Elevated ownership costs in the area (value-to-income metrics benchmark high nationally) tend to reinforce reliance on rental housing, while a rent-to-income ratio near 30% suggests some affordability pressure that calls for disciplined lease management.
Safety indicators compare favorably at the national level. According to WDSuite, overall crime benchmarks in the upper national percentiles for safety, with violent and property offense measures scoring particularly strong versus neighborhoods nationwide. As with any urban-core location, trends can vary by micro-area and over time, so ongoing monitoring and property-level measures remain prudent.
- PepsiCo — corporate offices (10.6 miles)
- Ascena Retail Group — corporate offices (13.6 miles) — HQ
- IBM — corporate offices (14.2 miles) — HQ
- Prudential Financial — financial services (16.5 miles)
- Citizens Bank Home Mortgages — financial services (16.9 miles)
This 36-unit 1988-vintage asset sits in a dense, amenity-rich pocket where renter concentration is high and neighborhood occupancy trends hover around national medians. Dining, cafe, and grocery access score in the upper national percentiles, supporting day-to-day convenience that helps with leasing velocity and renewals. Elevated ownership costs in the area sustain renter demand, while, according to CRE market data from WDSuite, forward-looking household growth within 3 miles points to a larger tenant base over the next five years. Given the vintage advantage over older neighborhood stock, targeted modernization can further differentiate the asset without requiring a full reposition.
Key considerations include managing affordability pressure (rent-to-income near 30%) through thoughtful renewals and amenity-value alignment, and acknowledging limited parks/pharmacies locally in marketing and resident programming. Overall, the combination of strong daily-needs access and a sizable renter base supports an operationally focused hold with selective value-add.
- High renter concentration supports demand depth and renewal stability.
- 1988 vintage is newer than nearby stock, with targeted upgrades offering competitive positioning.
- Upper-percentile restaurant/cafe/grocery density underpins leasing and resident satisfaction.
- Risks: limited parks/pharmacies and affordability pressure near 30% rent-to-income call for disciplined lease and amenity strategy.