| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 21st | Poor |
| Amenities | 15th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 187 Blauvelt Rd, Monsey, NY, 10952, US |
| Region / Metro | Monsey |
| Year of Construction | 2010 |
| Units | 40 |
| Transaction Date | 2019-10-10 |
| Transaction Price | $620,000 |
| Buyer | MUELLER SOLOMON |
| Seller | 187 BLAUVELT ROAD CONDOMINIUM LLC |
187 Blauvelt Rd, Monsey NY Multifamily Investment
2010-vintage, 40-unit asset positioned in a high-cost ownership market where neighborhood occupancy has held near the national middle, according to WDSuite’s CRE market data. Elevated for-sale values in Monsey support durable renter demand and retention potential.
Located in Rockland County’s Monsey, the property sits in a predominantly residential area with strong day-to-day convenience anchored by groceries. Neighborhood grocery density ranks in the higher range nationally (around the 90th percentile), which supports daily livability for residents, while broader amenity breadth is thinner than the metro median (amenity rank 805 among 889 metro neighborhoods). For investors, that mix generally favors workforce housing appeal over lifestyle-driven leasing.
Neighborhood occupancy is 92.6%, placing it around the national middle but below the metro median (rank 635 of 889). That baseline, combined with a renter-occupied share of housing units at 46.5% in the neighborhood, points to a balanced tenant base and supports leasing stability. Within a 3-mile radius, the renter-occupied share is higher (approximately 53.7%), indicating deeper demand in the immediate catchment area.
Median contract rents in the neighborhood are consistent with area incomes, with a rent-to-income ratio around 0.25 (national percentile near the teens). This suggests manageable affordability pressure that can aid lease retention, while the metro context of elevated ownership costs (home values near the 97th national percentile) reinforces reliance on multifamily rentals. Based on CRE market data from WDSuite, the property’s 2010 construction is newer than the neighborhood average vintage of 2007, offering a relative competitive edge versus older stock; investors should still plan for system updates typical of a mid-2010s lifecycle.
Demographic statistics aggregated within a 3-mile radius show recent population growth and an increase in households over the past five years, with projections indicating further growth and a modest downshift in average household size. For multifamily owners, this points to a larger tenant base over time and potential support for occupancy stability, even as unit mix and space planning may benefit from accommodating slightly smaller households.
Comparable crime metrics and rankings are not available for this neighborhood in WDSuite’s current release. Investors typically benchmark neighborhood safety trends against the broader New York–Jersey City–White Plains metro and county-level data where available, and supplement with municipal reports for additional context.
Given the absence of rank and percentile detail, a prudent approach is to evaluate multi-year trends at the city and county levels, and consider property-specific measures (lighting, access control, and visibility) as part of operational planning.
Nearby corporate presences help anchor employment and commuting patterns that support renter demand, including Ascena Retail Group, Prudential Financial, Becton Dickinson, PepsiCo, and Toys “R” Us. Proximity can aid leasing velocity for workforce-oriented units.
- Ascena Retail Group — corporate offices (6.2 miles) — HQ
- Prudential Financial — corporate offices (10.2 miles)
- Becton Dickinson — corporate offices (10.3 miles) — HQ
- Pepsico — corporate offices (13.8 miles)
- Toys “R” Us — corporate offices (13.8 miles) — HQ
This 2010-built, 40-unit property offers relative vintage advantage versus nearby stock (neighborhood average vintage 2007), supporting competitive positioning while calling for routine mid-life capital planning. Elevated for-sale home values in Monsey and the wider metro sustain renter reliance on multifamily housing, which, alongside a neighborhood renter-occupied share near half of units, supports depth of demand and retention potential.
Neighborhood occupancy trends are near the national midpoint and below the metro median, but population and household growth within a 3-mile radius point to a larger tenant base ahead. According to CRE market data from WDSuite, median rents relative to incomes imply manageable affordability pressure, aiding lease management while leaving room for value-add through targeted unit upgrades and common-area improvements as systems age.
- Newer 2010 vintage versus neighborhood average, offering competitive positioning with moderate capex planning needs
- High-cost ownership market supports durable rental demand and potential retention strength
- Expanding 3-mile tenant base with projected household growth supports occupancy stability
- Rents aligned with incomes suggest manageable affordability pressure, aiding leasing performance
- Risks: amenity-light neighborhood and below-metro-median occupancy may moderate rent growth and lease-up pace