| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 5th | Poor |
| Amenities | 31st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11 First St, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2013 |
| Units | 24 |
| Transaction Date | 2018-03-14 |
| Transaction Price | $615,000 |
| Buyer | ROSEN GERSON |
| Seller | ROSEN OSCAR |
11 First St, Spring Valley NY — Newer 24-Unit Multifamily
Neighborhood occupancy is steady and the renter-occupied share is elevated, supporting lease-up and retention, according to WDSuite’s CRE market data informed by multifamily property research.
This Urban Core location in Spring Valley sits within a high-cost ownership market relative to local incomes, which tends to reinforce reliance on rental housing and deepen the tenant base. Neighborhood occupancy is reported at 91.9% and the renter-occupied share is 67.7%, indicating a sizable pool of renters for a 24-unit asset. Based on CRE market data from WDSuite, home values in the neighborhood are elevated versus national norms, a backdrop that generally supports pricing power and lease stability for well-managed multifamily.
Livability signals are mixed. Grocery and pharmacy access are comparatively strong for the area, but cafes, restaurants, parks, and childcare are limited within the immediate neighborhood. Average school ratings trail metro norms, which investors may weigh against broader household growth and amenity access when underwriting demand and retention.
Within a 3-mile radius, demographics point to a growing renter pool: population and households have expanded over the last five years, with additional growth projected. Median and mean household incomes in this radius are higher than the neighborhood-only figures, which can support rent collections, while a projected increase in households suggests more renters entering the market and supports occupancy stability.
Vintage is a relative advantage: the property was built in 2013, newer than the neighborhood’s average 2008 construction year. That typically improves competitive positioning versus older stock, though investors should still plan for mid-life system updates and potential repositioning to sustain rent premiums.
Safety indicators are mixed and should be underwritten conservatively. At the metro level, the neighborhood ranks 135th out of 889 on crime, indicating relatively higher incident levels compared with many New York–Jersey City–White Plains neighborhoods. Nationally, overall crime sits around the middle of the pack (near the 50th percentile). Recent year-over-year movements in both property and violent incidents signal variability, so prudent operators typically account for security measures and tenant screening as part of asset management.
Proximity to regional corporate employers supports commuter demand and lease retention, with access to headquarters and major offices including Ascena Retail Group, Prudential Financial, Becton Dickinson, PepsiCo, and Toys “R” Us.
- Ascena Retail Group — apparel retail HQ/offices (6.8 miles) — HQ
- Prudential Financial — financial services offices (10.1 miles)
- Becton Dickinson — medical technology HQ/offices (10.7 miles) — HQ
- PepsiCo — food & beverage corporate offices (12.9 miles)
- Toys “R” Us — retail corporate offices (14.2 miles) — HQ
11 First St offers newer construction (2013) in a neighborhood where renter-occupied housing is prevalent and occupancy is stable, underpinning baseline cash flow. High home values relative to local incomes create a high-cost ownership market that tends to sustain multifamily demand, while nearby corporate employment broadens the commuter tenant base. According to CRE market data from WDSuite, these dynamics are consistent with areas where rental reliance supports pricing power for well-operated assets.
Within a 3-mile radius, population and household growth—alongside rising incomes—point to a larger tenant base over the medium term. The asset’s newer vintage supports competitive positioning versus older stock, though investors should plan for mid-life capital items and manage affordability pressures to protect retention.
- Newer 2013 construction enhances competitiveness versus older local inventory
- Elevated renter-occupied share and stable neighborhood occupancy support demand depth
- High-cost ownership market reinforces rental reliance and potential pricing power
- Regional employers within ~7–14 miles bolster commuter-driven leasing
- Risks: safety variability, amenity limitations nearby, and affordability pressure require active management