| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 29th | Poor |
| Amenities | 52nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 53 S Route 9W, Haverstraw, NY, 10927, US |
| Region / Metro | Haverstraw |
| Year of Construction | 2011 |
| Units | 26 |
| Transaction Date | 2009-10-29 |
| Transaction Price | $640,000 |
| Buyer | MURPHY MANOR HOUSING DEVE LOPMENT FUND COMPAN |
| Seller | OLORI BROTHERS LLC |
53 S Route 9W Haverstraw 26-Unit Multifamily
Stabilized neighborhood occupancy and a high-cost ownership landscape point to durable renter demand, according to WDSuite’s CRE market data. Positioned in Rockland County, the asset benefits from steady leasing fundamentals without relying on outsized rent growth.
Haverstraw’s neighborhood occupancy is strong and competitive among New York-Jersey City-White Plains neighborhoods (190 out of 889), supporting leasing stability for multifamily assets. Median contract rents in the area sit above national midpoints, while the rent-to-income ratio remains manageable, a combination that can sustain retention with disciplined lease management based on CRE market data from WDSuite.
Within a 3-mile radius, demographics show a larger-family profile and modest recent population growth with a projected increase in households through 2028, indicating a widening tenant base and potential support for occupancy stability. The renter-occupied share is roughly three in ten units locally, suggesting a meaningful but not saturated pool of renters for a 26-unit property.
Ownership costs are elevated versus national norms (high national percentile for value-to-income), which typically reinforces reliance on rental options and can underpin pricing power in well-managed buildings. Neighborhood amenities skew practical rather than lifestyle-oriented: childcare and pharmacies are comparatively accessible, while cafes and parks are limited, pointing to convenience for daily needs but thinner walkable leisure options.
The average neighborhood building vintage is older, while this asset was completed in 2011—newer stock that tends to remain competitive versus mid-century properties, though investors should still plan for system updates and ongoing modernization over a long hold.
Comparable safety benchmarks for this neighborhood are not available in WDSuite’s dataset. Investors should review municipal reports and insurer or lender diligence for trend context at the neighborhood and city levels rather than relying on block-level assumptions.
Nearby corporate employers provide a diversified white-collar employment base that can support renter demand and commute convenience, including PepsiCo, Ascena Retail Group, IBM, Prudential Financial, and Becton Dickinson.
- PepsiCo — food & beverage (10.3 miles)
- Ascena Retail Group — retail apparel HQ offices (13.5 miles) — HQ
- IBM — technology & services (13.9 miles) — HQ
- Prudential Financial — financial services (16.2 miles)
- Becton Dickinson — medical technology (17.5 miles) — HQ
Built in 2011 with 26 units averaging roughly 1,040 square feet, the property offers relatively modern product in a largely older housing landscape—supporting competitive positioning and potentially lower near-term capital needs, while leaving room for targeted renovations over time. According to CRE market data from WDSuite, the neighborhood’s occupancy is competitive within the metro and ownership costs are elevated relative to national norms, both of which tend to support renter reliance and steady leasing.
Within a 3-mile radius, modest recent growth and a projected expansion in households point to a gradually enlarging renter pool that supports occupancy stability rather than speculative lease-up. Amenity coverage favors daily conveniences over leisure, so operators should focus on in-building features and management to drive retention and pricing power.
- 2011 vintage in an older-vintage area supports competitive positioning and manageable near-term capex planning
- Strong neighborhood occupancy and elevated ownership costs bolster rental demand and lease stability
- 3-mile household growth outlook suggests a larger tenant base over the medium term
- Balanced rent-to-income dynamics support retention with disciplined revenue management
- Risk: Limited leisure amenities nearby may cap walkable appeal; execution should emphasize property-level features and operations