| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 21st | Poor |
| Amenities | 15th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9 Calvert Dr, Monsey, NY, 10952, US |
| Region / Metro | Monsey |
| Year of Construction | 2008 |
| Units | 24 |
| Transaction Date | 2009-08-28 |
| Transaction Price | $520,000 |
| Buyer | TAUBER ABRAHAM Y |
| Seller | LICHTER JACOB |
9 Calvert Dr, Monsey NY — 24-Unit 2008 Multifamily
Renter demand is supported by a high-cost ownership market and steady neighborhood occupancy, according to WDSuite s CRE market data. The asset s 2008 vintage positions it competitively versus older Rockland County stock.
The property sits in Monsey s Urban Core within the New York Jersey City White Plains metro. Neighborhood occupancy is stable and typical for the region, and the area shows a relatively deep renter base with a renter-occupied share near half of housing units. For investors, this mix suggests a durable tenant pool and support for leasing continuity rather than sharp vacancy swings.
Local amenity density is mixed: grocery access is a relative strength (around the 90th percentile nationally), while cafes, restaurants, parks, and pharmacies are sparse in the immediate neighborhood. That trade-off tends to favor day-to-day convenience for households but may mean residents rely on nearby corridors for dining and recreation. Within the metro, the neighborhood s overall amenity rank sits well below the median (rank 805 among 889 metro neighborhoods), indicating limited non-grocery retail concentration close by.
The housing stock skews newer for the metro (average construction year near 2007; competitive among New York Jersey City White Plains neighborhoods at rank 5 of 889 and in the top quartile nationally). With a 2008 build, the property should compare favorably to older inventory, though investors should still plan for mid-life system updates over the hold period.
High ownership costs characterize the area: neighborhood home values sit in the upper tier nationally (around the 97th percentile), which tends to reinforce reliance on rental housing and can support pricing power and lease retention. Neighborhood rent-to-income levels are moderate by national standards, which can help manage affordability pressure and reduce turnover risk if rent growth stays aligned with incomes.
Demographic statistics aggregated within a 3-mile radius point to population growth over the last five years and further expansion ahead, alongside an increase in total households and a relatively large share of under-18 residents. This trajectory implies a larger tenant base and potential renter pool expansion over the medium term, supporting occupancy stability.
WDSuite does not report a comparable neighborhood crime rank for this location, so investors should benchmark conditions using county and municipal sources and multi-year trends. Given the absence of standardized metrics, treat safety as a diligence item alongside property-level controls (lighting, access, and management practices) and broader regional patterns.
Nearby employers provide a diversified white-collar base that supports renter demand and commute convenience, including Ascena Retail Group, Becton Dickinson, Prudential Financial, Toys "R" Us, and PepsiCo.
- Ascena Retail Group retail apparel (6.2 miles) HQ
- Becton Dickinson medical devices (10.3 miles) HQ
- Prudential Financial financial services (10.5 miles)
- Toys "R" Us retail (13.8 miles) HQ
- PepsiCo beverages & snacks (14.0 miles)
Built in 2008, this 24-unit asset offers competitive positioning against older Rockland County inventory while approaching the stage where targeted system upgrades can enhance durability and renter appeal. High ownership costs in the surrounding neighborhood, combined with a renter-occupied share near half of housing units, point to solid depth of demand and support for occupancy stability. Based on CRE market data from WDSuite, the neighborhood s grocery access is a relative strength, while limited nearby dining and parks is a manageable trade-off to factor into leasing strategy.
Demographic statistics within a 3-mile radius indicate recent population and household growth with further gains forecast, which reinforces a larger tenant base over time. Together with neighborhood-level occupancy that is steady for the metro and a moderate rent-to-income profile, the fundamentals support consistent leasing with room for value-add through selective capital projects and operational execution.
- 2008 vintage offers competitive positioning versus older stock, with mid-life capex planning to protect NOI.
- High-cost ownership market supports renter reliance and helps sustain pricing power and retention.
- 3-mile demographic growth expands the tenant base, supporting occupancy stability over the hold.
- Grocery access is a local strength; limited dining/parks nearby is a known trade-off to address in marketing.
- Risks: aging building systems over time, limited amenity mix in immediate area, and need for local safety due diligence.