| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 21st | Poor |
| Amenities | 15th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 248 Blauvelt Rd, Monsey, NY, 10952, US |
| Region / Metro | Monsey |
| Year of Construction | 2011 |
| Units | 24 |
| Transaction Date | 2014-04-10 |
| Transaction Price | $320,000 |
| Buyer | HDW 248 BLAUVELT LLC |
| Seller | BLA REALTY LLC |
248 Blauvelt Rd Monsey Multifamily Investment
Neighborhood occupancy around 93% suggests steady renter demand in this Urban Core pocket of Rockland County, according to WDSuite’s CRE market data. Elevated ownership costs in the area support multifamily leasing durability over time.
Located at 248 Blauvelt Rd in Monsey, the property sits within the New York–Jersey City–White Plains corridor where neighborhood-level indicators point to a resilient rental base. The surrounding neighborhood’s occupancy is reported at 92.6% (neighborhood metric, not property performance), which lands above the national median and supports stable leasing conditions for multifamily operators, based on CRE market data from WDSuite.
Tenure patterns indicate depth in the renter pool: approximately 46.5% of housing units in the neighborhood are renter-occupied, placing this area in a higher renter concentration tier (86th percentile nationally). For investors, that implies a meaningful base of prospective tenants and supports renewal and lease-up strategies when units turn.
Home values in the neighborhood are elevated (median roughly $900K+; 97th percentile nationally), and the value-to-income ratio ranks near the top of U.S. neighborhoods (99th percentile). In practice, this high-cost ownership market tends to reinforce reliance on rental housing, offering investors potential for retention and pricing power management as leases roll. At the same time, the neighborhood’s rent-to-income ratio sits in a lower national percentile, suggesting measured affordability pressure relative to many U.S. areas—an operational positive for collections and renewals.
Amenity access is mixed. Grocery coverage is a relative strength (around the 90th percentile nationally), while cafes, restaurants, parks, and pharmacies are less dense locally, contributing to an overall amenity profile that tracks below many metro peers (amenities roughly 15th percentile nationally). For household-serving apartments, the grocery depth offsets some of that softness and can still anchor daily convenience for residents.
Demographic statistics aggregated within a 3-mile radius show recent population growth alongside an increase in households over the last five years, with forecasts pointing to continued population gains and a notable increase in household count. A projected reduction in average household size suggests more, smaller households forming over time—an investor-relevant signal for multifamily demand as the renter pool expands and supports occupancy stability.
Vintage is a competitive consideration: the neighborhood’s average construction year is 2007, while this asset was built in 2011. Being newer than the local average supports positioning against older stock; operators may still plan for mid-life system updates and targeted renovations to keep finishes and building systems aligned with renter expectations.
Comparable neighborhood crime statistics were not available for this area in WDSuite’s dataset at the time of publication. Investors typically contextualize property-level risk by reviewing broader city and county trends, property management practices, and local law enforcement resources, alongside on-the-ground observations.
Nearby employers support a diversified white-collar workforce, with commute-friendly access that can underpin renter demand and retention for workforce-oriented apartments. Key employers in the area include Ascena Retail Group, Prudential Financial, Becton Dickinson, PepsiCo, and Toys "R" Us.
- Ascena Retail Group — retail apparel (6.2 miles) — HQ
- Prudential Financial — financial services (10.2 miles)
- Becton Dickinson — medical technology (10.2 miles) — HQ
- Pepsico — food & beverage (13.7 miles)
- Toys "R" Us — retail (13.8 miles) — HQ
This 24-unit, 2011-vintage asset benefits from a renter-supportive backdrop: neighborhood occupancy is above the national median, local renter concentration sits in a high national percentile, and ownership costs are elevated relative to incomes—factors that collectively sustain demand for rental housing. According to CRE market data from WDSuite, grocery access is a local strength, while overall amenity density is lighter, positioning the asset as a practical, household-serving option rather than a lifestyle play.
Demographic statistics within a 3-mile radius indicate recent population and household growth, with forecasts pointing to further expansion and smaller average household sizes—tailwinds for multifamily demand that can support occupancy stability. As a newer-than-average building for its neighborhood, the property can compete effectively against older stock; prudent capital planning for mid-life systems and selective upgrades can unlock value-add potential without overcapitalizing.
- Neighborhood occupancy above national median supports leasing stability (neighborhood metric, not property performance)
- High-cost ownership market reinforces renter reliance, aiding retention and pricing power management
- 2011 construction provides competitive positioning versus older local stock with targeted value-add potential
- 3-mile demographics show population and household growth, expanding the tenant base and supporting occupancy
- Risk: Lower density of dining and park amenities may limit lifestyle appeal; underwriting should reflect unit-level competitiveness and convenience strengths