| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 12th | Poor |
| Amenities | 15th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8 Phyllis Ter, Monsey, NY, 10952, US |
| Region / Metro | Monsey |
| Year of Construction | 1976 |
| Units | 30 |
| Transaction Date | 2003-11-03 |
| Transaction Price | $560,000 |
| Buyer | GOTTLIEB ABRAHAM |
| Seller | KLEIN HARRY |
8 Phyllis Ter Monsey Multifamily Value-Add Opportunity
Neighborhood occupancy has trended solidly with a high share of renter-occupied units, according to WDSuite’s CRE market data, suggesting depth in the local tenant base. The property’s older vintage positions it for renovations that can compete against newer stock while aiming to support leasing stability at the neighborhood level.
Located in Monsey within the New York–Jersey City–White Plains metro, the neighborhood is graded D and ranks 879 out of 889 metro neighborhoods, placing it below the metro median. Even so, occupancy at the neighborhood level is competitive nationally (around the 69th percentile), which indicates relatively steady renter demand compared with many U.S. neighborhoods, based on CRE market data from WDSuite.
The area skews heavily toward renter-occupied housing (renter concentration of 77.8%), ranking 59 out of 889 locally — a profile that generally supports a deeper tenant pool and demand resilience for multifamily assets. Median home values sit high for the area (93rd percentile nationally), a high-cost ownership market dynamic that tends to sustain reliance on rental housing and can support pricing power for well-positioned units.
Amenity density is thin by national standards (very low counts of cafes, groceries, parks, and pharmacies per square mile), which may limit lifestyle convenience within immediate blocks. Childcare availability is a relative bright spot (high national percentile), which can help retain family renters. School ratings are not available in this dataset and should be validated separately during diligence.
Within a 3-mile radius, demographics indicate population growth alongside an increase in households, with projections pointing to further household expansion over the next five years. This combination implies a larger tenant base and supports occupancy stability for multifamily, though rent-to-income metrics (31% at the neighborhood level) suggest some affordability pressure that owners should manage through leasing and renewal strategies.
Vintage and value-add: Average construction year in the neighborhood skews newer (2001), while the subject property was built in 1976. The older vintage underscores capital planning needs but also sets up a clear renovation and repositioning path to compete with newer stock.
Safety indicators are mixed when viewed across geographies. Nationally, estimated property and violent offense rates benchmark favorably — the neighborhood sits in very strong safety percentiles compared with U.S. neighborhoods overall. However, recent year-over-year estimates point to an uptick in violent offenses, so investors may want to monitor trend direction during underwriting and lease management.
At the metro level, relative standing varies by measure and should be considered alongside on-the-ground diligence. Use these signals directionally rather than as block-level assertions, and pair them with management practices (lighting, access controls, resident screening) that support retention and leasing stability.
The surrounding employment base mixes retail, healthcare, and consumer products corporate offices, supporting commuter access and a broad renter pool. Nearby anchors include Ascena Retail Group, Prudential Financial, Becton Dickinson, PepsiCo, and Toys "R" Us.
- Ascena Retail Group — apparel retail corporate (6.2 miles) — HQ
- Prudential Financial — financial services (9.9 miles)
- Becton Dickinson — medical technology (10.2 miles) — HQ
- Pepsico — beverages & snacks (13.6 miles)
- Toys "R" Us — retail corporate (13.7 miles) — HQ
This 30-unit asset built in 1976 presents a straightforward value-add thesis in a neighborhood with nationally competitive occupancy and a pronounced renter-occupied profile. Elevated home values in the area reinforce renter reliance on multifamily housing, and within a 3-mile radius both population and household counts have been growing with projections indicating further expansion — factors that can support a larger tenant base and lease-up consistency. According to CRE market data from WDSuite, neighborhood rent-to-income levels point to some affordability pressure, so revenue strategies should emphasize retention and unit mix optimization.
Relative to the neighborhood’s newer average construction (2001), targeted renovations, common-area upgrades, and system modernization can help this property compete against newer inventory. Amenity-light surroundings argue for on-site features and management practices that enhance livability, while monitoring safety trends and pricing to local income dynamics should help sustain occupancy and collections.
- Clear value-add path: 1976 vintage versus newer neighborhood stock supports renovation-driven rent positioning.
- Depth of tenant base: high renter-occupied share and competitive neighborhood occupancy support leasing stability.
- Demand drivers: high-cost ownership market and 3-mile population/household growth bolster multifamily demand.
- Operations focus: manage rent-to-income pressures with renewal strategy, unit mix, and on-site services.
- Key risks: amenity-light location and mixed safety trends require active management and prudent underwriting.