| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 5th | Poor |
| Amenities | 31st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10 Elm St, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2011 |
| Units | 36 |
| Transaction Date | 2013-07-19 |
| Transaction Price | $339,000 |
| Buyer | KANTOR PERAL |
| Seller | RAMAPO LOCAL DEVELOPMENT CORP |
10 Elm St, Spring Valley NY Multifamily Investment
Neighborhood-level occupancy sits in the low 90s with a renter-occupied share around two-thirds, supporting durable demand according to WDSuite’s CRE market data. These metrics reflect the surrounding neighborhood rather than the property and suggest steady tenant depth for a 36-unit asset.
Located in Spring Valley within the New York–Jersey City–White Plains corridor, the property benefits from daily-needs convenience more than lifestyle retail. Grocery and pharmacy access ranks in the top quartile nationally, while cafes, restaurants, and parks are comparatively limited. For investors, this mix points to functional livability that supports leasing, albeit with fewer entertainment-driven demand catalysts.
Rents in the neighborhood trend above national norms, and neighborhood occupancy is near the U.S. average, per commercial real estate analysis from WDSuite. The local housing stock skews relatively new for the metro, and a 2011 vintage positions this asset as newer than the neighborhood average (2008), which can be competitively advantageous versus older product while still warranting routine modernization planning.
Unit tenure data indicates a high share of renter-occupied housing in the neighborhood, reinforcing depth of the tenant base for multifamily. Within a 3-mile radius, population and household counts have expanded at a double-digit pace and are projected to continue growing, which supports occupancy stability and leasing velocity through a larger renter pool. Median incomes in the 3-mile radius have risen meaningfully, aligning with sustained payor capacity for well-maintained units.
Ownership costs are elevated in the neighborhood compared with national benchmarks, which tends to sustain reliance on multifamily rentals and can aid pricing power and retention. That said, rent-to-income metrics indicate localized affordability pressure, suggesting the need for disciplined lease management and amenity/value positioning to balance renewal rates with growth.
Safety indicators are mixed. On a national basis, the neighborhood’s estimated violent and property offense rates screen favorably, placing it in higher national percentiles compared with many neighborhoods across the country. However, recent year-over-year readings point to an uptick, which investors may wish to monitor as part of ongoing risk assessment.
Compared with the broader New York–Jersey City–White Plains metro, neighborhood safety varies by category and timeframe. Framing these signals comparatively rather than block-by-block is prudent for underwriting, with attention to trend direction and any local enforcement or community initiatives that could influence forward risk.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience for workforce and professional tenants. The following employers anchor the area’s white-collar and headquarters presence referenced here.
- Ascena Retail Group — corporate offices (7.0 miles) — HQ
- Prudential Financial — financial services (10.3 miles)
- Becton Dickinson — medical technology corporate offices (11.0 miles) — HQ
- PepsiCo — consumer packaged goods corporate offices (12.9 miles)
- Toys "R" Us — corporate offices (14.5 miles) — HQ
10 Elm St is a 2011-vintage, 36-unit asset positioned in a neighborhood with renter demand supported by a high share of renter-occupied housing and near-average occupancy at the neighborhood level. Within a 3-mile radius, population and households have grown meaningfully and are projected to continue expanding, indicating a larger tenant base that can support steady leasing and retention. Elevated ownership costs in the area further reinforce multifamily reliance, while newer construction relative to neighborhood averages provides competitive positioning versus older product. Based on CRE market data from WDSuite, rents in the area trend above national norms, implying potential pricing power when paired with disciplined affordability management.
Key considerations include an amenity mix skewed toward daily needs rather than entertainment, as well as rent-to-income readings that suggest closer attention to renewal strategy and concessions. Safety indicators are favorable nationally but have shown recent upticks, warranting monitoring. Overall, the fundamentals point to durable demand with measured upside through operational execution and targeted refresh initiatives typical for a 2010s asset.
- Newer 2011 vintage versus local averages supports competitive positioning and reduced near-term capex relative to older stock
- High neighborhood renter-occupied share and expanding 3-mile population/households support tenant depth and occupancy stability
- Elevated ownership costs bolster reliance on rentals, aiding pricing power when aligned with value and service
- Daily-needs retail access (grocery, pharmacy) enhances livability even with fewer lifestyle amenities
- Risks: localized affordability pressure (rent-to-income), mixed but improving safety trends, and fewer entertainment amenities than peer areas