| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 5th | Poor |
| Amenities | 31st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10 Neil Rd, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2009 |
| Units | 28 |
| Transaction Date | 2009-01-23 |
| Transaction Price | $675,000 |
| Buyer | ROSENFELD MIRIAM |
| Seller | ROSENFELD FRAIDY |
10 Neil Rd Spring Valley Multifamily Investment
Positioned in a renter-heavy pocket of Spring Valley, the property benefits from steady neighborhood occupancy and durable demand, according to WDSuite’s CRE market data. Investors can underwrite to a deep tenant base supported by high ownership costs in Rockland County.
This Urban Core neighborhood in Spring Valley skews heavily renter-occupied, with renter-occupied units making up a large share of housing. For multifamily owners, that renter concentration signals a deeper tenant pool and supports leasing stability through cycles, while neighborhood occupancy is around the national midpoint, based on commercial real estate analysis from WDSuite.
Local living patterns show strong day-to-day convenience: groceries and pharmacies are competitive versus national benchmarks, though there are fewer parks, cafes, and restaurants nearby. School ratings trail metro norms, which may shape unit mix and positioning for family-oriented renters but does not preclude workforce demand.
Within a 3-mile radius, population has expanded over the last five years and households are up, with WDSuite data indicating further population growth and a substantial increase in households by 2028. That trajectory points to a larger tenant base and supports occupancy stability and absorption for well-positioned units.
Home values in the neighborhood are elevated relative to national levels, which reinforces reliance on rental housing and can aid retention and pricing power for well-managed properties. At the same time, the neighborhood’s rent-to-income profile suggests some affordability pressure, so operators should lean on thoughtful lease management and amenity value to sustain renewals.
Neighborhood safety indicators are mixed in a way investors should monitor. Overall crime levels sit near the national middle of the pack, but WDSuite’s data show violent and property offense rates benchmarking in safer national percentiles. Recent year-over-year changes, however, point to some uptick, so maintaining standard security measures and resident engagement remains prudent.
The area draws on a diversified employment base with nearby corporate offices that support renter demand through commute convenience and steady white-collar payrolls. Key employers include Ascena Retail Group, Prudential Financial, Becton Dickinson, PepsiCo, and Toys “R” Us.
- Ascena Retail Group — corporate offices (6.96 miles) — HQ
- Prudential Financial — financial services (10.31 miles)
- Becton Dickinson — medical technology (10.89 miles) — HQ
- Pepsico — consumer goods (12.93 miles)
- Toys “R” Us — retail corporate (14.42 miles) — HQ
Built in 2009, the asset is slightly newer than the neighborhood’s average vintage, offering relative competitiveness versus older stock while still warranting routine system updates over the hold. The surrounding area shows a high renter concentration and occupancy near the national midpoint; combined with elevated for-sale home values, that supports a dependable tenant base and potential lease retention. According to CRE market data from WDSuite, demographics within a 3-mile radius point to continued population growth and a sizable household increase into 2028, which underpins long-run demand for multifamily units.
Counterbalancing strengths include modest amenity depth and softer school ratings locally, along with some recent uptick in offense rates and a rent-to-income profile that calls for disciplined pricing and renewal strategies. Overall, the property’s vintage, location fundamentals, and regional employment access position it as a defensible, needs-based rental option in Rockland County.
- 2009 vintage offers competitive positioning versus older neighborhood stock, with manageable modernization needs
- High renter-occupied share and occupancy near national midpoint support leasing stability
- Elevated home values bolster renter reliance on multifamily, aiding retention and pricing power
- 3-mile demographics indicate population and household growth through 2028, expanding the tenant base
- Risks: affordability pressure, limited nearby leisure amenities, softer school ratings, and recent offense-rate upticks