| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 12th | Poor |
| Amenities | 15th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13 Rita Ave, Monsey, NY, 10952, US |
| Region / Metro | Monsey |
| Year of Construction | 2011 |
| Units | 42 |
| Transaction Date | 2010-09-20 |
| Transaction Price | $549,000 |
| Buyer | 13 RITA REALTY LLC |
| Seller | BOTNICK RACHEL |
13 Rita Ave Monsey 2011 Multifamily Investment
Newer construction relative to the area supports leasing competitiveness amid a high share of renter-occupied housing; according to WDSuite’s CRE market data, neighborhood occupancy has remained resilient with steady gains in recent years.
Situated in Monsey within the New York–Jersey City–White Plains metro, the property benefits from a renter-driven neighborhood profile and steady occupancy. Neighborhood occupancy is reported at 94.6% with a multi‑year upward trend, a positive indicator for income stability. The surrounding housing stock skews renter-occupied (77.8% of units), signaling depth in the tenant base and durability of multifamily demand, based on CRE market data from WDSuite.
The 2011 construction is newer than the neighborhood’s average vintage (2001). This positioning can enhance leasing competitiveness versus older assets, while investors should still plan for routine modernization and system updates over the hold period.
Local amenity density is limited for cafes, groceries, parks, and pharmacies, which may translate to more destination-based trips. However, childcare access stands out (high national standing), which can support family-oriented renter retention. Investors should weigh amenity gaps against unit features, on-site services, and accessibility to regional job centers.
Home values in the neighborhood sit at elevated levels relative to the nation, which typically sustains demand for rental housing and can aid lease retention. At the same time, rent-to-income conditions warrant careful lease management to mitigate affordability pressure and turnover risk. Neighborhood NOI per unit trends run below national norms, so underwriting should emphasize operational efficiency over outsized rent growth assumptions.
Demographic statistics aggregated within a 3‑mile radius indicate population and household growth over the last five years, with forecasts calling for further expansion and a decrease in average household size. A larger household count alongside slightly smaller households points to a broader renter pool and potential demand for a range of unit types, supporting occupancy stability.
Neighborhood safety signals are comparatively favorable within the New York–Jersey City–White Plains metro. With a crime rank of 74 among 889 metro neighborhoods, conditions are competitive among peer neighborhoods. Nationally, overall safety sits above average, and property crime indicators benchmark very well versus U.S. neighborhoods according to WDSuite’s data.
Trend-wise, recent estimates show an uptick in violent incidents year over year. While the area still compares well to many neighborhoods nationwide, investors should account for trend volatility when assessing security measures, lighting, and resident experience, and monitor updates to local statistics over time.
Proximity to regional employers supports commuter convenience and renter retention, with nearby corporate offices spanning retail, healthcare products, consumer goods, and financial services.
- Ascena Retail Group — corporate offices (6.4 miles) — HQ
- Prudential Financial — financial services (10.2 miles)
- Becton Dickinson — healthcare products (10.4 miles) — HQ
- PepsiCo — consumer goods (13.5 miles)
- Toys "R" Us — retail (14.0 miles) — HQ
This 42‑unit, 2011‑vintage asset aligns with renter-driven dynamics in Monsey, where occupancy has trended upward and the share of renter-occupied units is high. Elevated ownership costs in the neighborhood reinforce reliance on multifamily housing, supporting tenant retention and steady lease-up. According to CRE market data from WDSuite, neighborhood occupancy performance sits above many U.S. areas, while 3‑mile demographics point to continued population and household expansion that can broaden the renter pool.
The newer vintage relative to local stock can provide a competitive edge versus older assets, though investors should budget for ongoing modernization to sustain positioning. Amenity density is limited locally, so demand may hinge on access to regional employment nodes and on-site features. Underwriting should remain disciplined given below‑average NOI per unit benchmarks and recent variability in violent incident trends, with a focus on operations, resident experience, and prudent rent growth assumptions.
- Newer 2011 construction versus area average enhances leasing competitiveness
- High renter-occupied share and resilient neighborhood occupancy support income stability
- Elevated ownership costs sustain multifamily demand and lease retention potential
- 3-mile demographics show growing households, expanding the renter pool
- Risks: limited amenity density, below‑average NOI per unit, and recent volatility in violent incident trends