| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Fair |
| Demographics | 39th | Poor |
| Amenities | 61st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 173 Maple Ave, Haverstraw, NY, 10927, US |
| Region / Metro | Haverstraw |
| Year of Construction | 2011 |
| Units | 24 |
| Transaction Date | 2013-06-10 |
| Transaction Price | $550,000 |
| Buyer | SILBERSTEIN BENJAMIN |
| Seller | 171 MAPLE LLC |
173 Maple Ave, Haverstraw NY — Newer 24-Unit Multifamily
Neighborhood data points to a renter-driven area with steady occupancy, according to WDSuite’s CRE market data, supporting consistent demand for well-kept units near core amenities.
Located in Haverstraw’s Urban Core, the property benefits from a neighborhood with strong day-to-day convenience: restaurants, cafes, childcare, and grocery access rank competitively versus areas nationwide, while parks and pharmacies are thinner locally. For investors, these mixed amenity dynamics suggest attractive daily needs coverage that can aid leasing, with limited green space that may place a premium on on-site features.
Renter-occupied housing comprises a majority share within the immediate neighborhood (53.9%), indicating a deep tenant base for multifamily. Neighborhood occupancy is near the national median, a setup that can support stable cash flow through cycles rather than boom-bust swings. Median contract rents in the neighborhood have risen over the past five years, underscoring ongoing renter demand, based on CRE market data from WDSuite.
Within a 3-mile radius, demographics show a broadly stable population in recent years with forecasts pointing to population growth and a notable increase in households over the next five years. This trajectory implies a larger tenant base and supports occupancy stability as more renters enter the market, particularly for professionally managed product.
Ownership costs in the neighborhood are elevated relative to local incomes, which tends to reinforce reliance on rental housing and can aid retention for well-managed properties. At the same time, a higher rent-to-income profile suggests some affordability pressure, so disciplined lease management and amenity-driven value can help sustain pricing power without heightening turnover risk.
Built in 2011, the asset is materially newer than much of the surrounding housing stock (which skews mid-20th century). That recency generally enhances competitive positioning versus older properties and can reduce near-term capital expenditures, while still leaving room for targeted updates to common areas and systems to capture incremental rent.
Safety indicators for the neighborhood present a mixed picture relative to the broader metro and nation. Recent data shows year-over-year declines in both violent and property offenses, which is constructive for long-term operations. However, investors should underwrite with neighborhood-level variability in mind and avoid assuming block-level outcomes. Trends can be directionally favorable while still differing from metro averages across subareas.
For underwriting, consider standard measures such as lighting, access control, and resident engagement, and compare historical incident patterns to nearby neighborhoods within the same metro to calibrate security line items appropriately.
The area draws from a diversified employment base in Westchester/Rockland and northern NJ, supporting workforce housing demand and commute convenience. Key nearby employers include PepsiCo, Ascena Retail Group, IBM, Prudential Financial, and Mastercard.
- Pepsico — consumer packaged goods offices (10.2 miles)
- Ascena Retail Group — apparel retail HQ (13.6 miles) — HQ
- Ibm — technology & services HQ (13.9 miles) — HQ
- Prudential Financial — financial services offices (16.3 miles)
- Mastercard — payments technology HQ (17.6 miles) — HQ
This 24-unit property, built in 2011, offers a newer-vintage alternative in a predominantly older housing area, giving it competitive positioning and potentially lower near-term capex needs. Neighborhood data indicates steady occupancy near national norms with a majority share of renter-occupied units, which supports demand depth and lease-up predictability. Within a 3-mile radius, forecasts call for population and household growth, pointing to a larger renter pool and supportive long-term fundamentals, according to commercial real estate analysis from WDSuite.
Elevated ownership costs locally help sustain renter reliance on multifamily, while rent growth at the neighborhood level underscores ongoing demand. Affordability pressures are present, so active lease management and targeted unit/common-area enhancements can help balance pricing power and retention.
- Newer 2011 construction relative to neighborhood stock supports competitive positioning and moderates near-term capex.
- Majority renter-occupied neighborhood and occupancy near national median support demand stability and leasing predictability.
- 3-mile radius outlook points to population and household growth, expanding the tenant base over the medium term.
- Elevated ownership costs reinforce rental demand and can aid retention for well-managed properties.
- Risk: Affordability pressure requires disciplined lease management and measured upgrades to sustain retention and pricing.