| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 90th | Best |
| Demographics | 2nd | Poor |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15 Stern St, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2002 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
15 Stern St Spring Valley 22-Unit Multifamily
Neighborhood occupancy remains high and renter demand is deep, according to CRE market data from WDSuite, suggesting stable leasing performance for well-managed assets in Spring Valley. These metrics reflect the surrounding neighborhood, not this specific property.
Located in Spring Valley’s Urban Core, the property benefits from a renter-driven location where the share of housing units that are renter-occupied is elevated at the neighborhood level (83.1%). This concentration typically supports a larger tenant base and steadier turnover management for multifamily operators.
Neighborhood occupancy is strong and has edged higher in recent years, placing the area in the top quartile nationally for occupied housing. Within the New York–Jersey City–White Plains metro, this performance is competitive among 889 neighborhoods, indicating resilient absorption and limited downtime for vacant units when appropriately priced.
Everyday convenience is a local strength: cafes and pharmacies are dense relative to national benchmarks (both well above average), with grocery options also performing above national norms. Park and restaurant density scores are comparatively weaker, so on-site amenities and unit features can play a bigger role in retention.
Home values in the neighborhood are elevated versus national levels, creating a high-cost ownership market. For multifamily investors, this dynamic can reinforce reliance on rental housing and help sustain demand, while the neighborhood’s rent-to-income signals point to affordability pressure that calls for attentive lease management. Within a 3-mile radius, population and households have grown and are projected to continue expanding, which supports a larger tenant base; the area’s renter share is expected to edge above half in the outlook period, pointing to gradual renter pool expansion.
The average construction year locally skews relatively new, and this 2002 asset is slightly older than the neighborhood average (2006). That positioning can remain competitive with targeted modernization and systems updates, creating potential to capture demand from residents seeking newer-feel product at attainable price points.
Comparable safety metrics for this neighborhood are not available in WDSuite’s dataset. Investors typically benchmark property-level security features and historical operating experience against metro peers to contextualize risk and retention.
Nearby corporate offices provide a diversified employment base that supports commuter convenience and multifamily renter demand, including Ascena Retail Group, Prudential Financial, PepsiCo, Becton Dickinson, and Toys "R" Us.
- Ascena Retail Group — apparel retail HQ (8.6 miles) — HQ
- Prudential Financial — financial services (11.8 miles)
- Pepsico — food & beverage corporate offices (12.1 miles)
- Becton Dickinson — medical technology (12.6 miles) — HQ
- Toys "R" Us — retail corporate offices (16.1 miles) — HQ
15 Stern St offers exposure to a renter-centric Urban Core pocket of Rockland County with high neighborhood occupancy and above-average daily convenience. Based on CRE market data from WDSuite, the surrounding neighborhood sits in the top quartile nationally for occupancy, while elevated home values in the area indicate a high-cost ownership market that tends to sustain reliance on rentals. Within a 3-mile radius, population and household growth — alongside a projected increase in the renter share — point to a gradually expanding tenant base that can support leasing stability.
Built in 2002, the property is slightly older than the local average vintage, suggesting practical value-add pathways through modernization of finishes and building systems to compete with newer stock. At the same time, neighborhood rent-to-income signals warrant disciplined revenue management to balance pricing power with retention.
- High neighborhood occupancy supports lower downtime and steadier leasing
- Renter concentration and expanding 3-mile renter pool underpin demand
- Elevated home values reinforce reliance on multifamily versus ownership
- 2002 vintage offers clear value-add potential via targeted renovations
- Risk: Affordability pressure in the neighborhood calls for disciplined pricing and retention strategies