| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 5th | Poor |
| Amenities | 31st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 23 Decatur Ave, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2009 |
| Units | 24 |
| Transaction Date | 2008-11-19 |
| Transaction Price | $185,000 |
| Buyer | SCHER EZRIEL |
| Seller | YESHIVATH MAKOWA CORP |
23 Decatur Ave Spring Valley 24-Unit Multifamily
Neighborhood renter concentration and steady occupancy support income durability, according to WDSuite’s CRE market data. Metrics cited reflect neighborhood-level conditions, not the property’s operations.
The property sits in Spring Valley’s Urban Core, where neighborhood occupancy is around 92%, indicating generally stable leasing dynamics at the area level. Renter-occupied housing accounts for a high share of neighborhood units and ranks 127 out of 889 metro neighborhoods, placing it in the top quartile locally and signaling a deep tenant base for multifamily.
Daily-needs access is a relative strength: grocery and pharmacy density are high versus national norms (both in the upper percentiles), while cafés, restaurants, and parks are limited nearby. For investors, that mix suggests convenience for essentials with fewer lifestyle amenities within the immediate neighborhood, which can influence positioning and resident expectations.
Home ownership is a high-cost context relative to neighborhood incomes, with elevated home values and a high value-to-income ratio. That environment often sustains reliance on rental housing and can support retention, though the neighborhood’s rent-to-income ratio points to affordability pressure that warrants proactive lease management and renewal strategies.
Within a 3-mile radius, population and household counts have been growing and are projected to continue increasing, expanding the potential renter pool. Forecasts also point to a slightly smaller average household size, which can translate into more households seeking units, supporting occupancy stability and leasing velocity.
School ratings in the neighborhood dataset are limited, which may influence unit mix and marketing toward renter segments more focused on commute and daily-needs access. The building’s 2009 construction is slightly newer than the area’s average vintage (2008), supporting competitive positioning versus older stock while still calling for mid-life system planning and selective modernization to sustain performance.
Safety signals are mixed. The neighborhood’s overall crime rank is 135 out of 889 metro neighborhoods, indicating more reported crime than many parts of the metro. However, compared nationally, estimated violent and property offense rates land in higher safety percentiles, suggesting comparatively better standing versus many U.S. neighborhoods. Recent year-over-year estimates indicate rising incident rates, so investors should monitor trend direction alongside property-level security and operating practices.
Nearby corporate offices create a diversified employment base that supports renter demand and retention, particularly for workforce and professional tenants. Key employers within typical commuting range include Ascena Retail Group, Prudential Financial, Becton Dickinson, PepsiCo, and Toys "R" Us.
- Ascena Retail Group — corporate offices (6.6 miles) — HQ
- Prudential Financial — corporate offices (9.6 miles)
- Becton Dickinson — corporate offices (10.4 miles) — HQ
- Pepsico — corporate offices (12.9 miles)
- Toys "R" Us — corporate offices (13.9 miles) — HQ
This 24-unit, 2009-vintage asset benefits from a renter-dense neighborhood and a growing 3-mile tenant base. Neighborhood occupancy is near the low-90s, and ownership costs in the area are elevated relative to local incomes—factors that typically reinforce rental demand and support lease retention. Based on CRE market data from WDSuite, the neighborhood’s renter concentration ranks among the stronger cohorts in the metro, while projected household growth in the surrounding 3 miles points to continued depth in the renter pool.
The 2009 construction is slightly newer than the neighborhood average, offering relative competitiveness versus older stock; investors should still plan for mid-life systems and targeted upgrades to protect NOI. Daily-needs access is strong (groceries and pharmacies), but fewer nearby cafés, restaurants, parks, and limited rated schools suggest tailoring amenities and marketing to value convenience and commute access. Affordability pressure at the neighborhood level argues for careful rent and renewal management.
- Renter-dense neighborhood and growing 3-mile renter pool support demand and occupancy stability.
- 2009 vintage provides competitive positioning; plan for mid-life capital to sustain performance.
- Strong daily-needs access (grocery/pharmacy) enables convenience-focused positioning.
- Risk: Elevated rent-to-income at the neighborhood level requires disciplined rent growth and renewal strategy.
- Risk: Mixed safety trends and limited rated schools call for thoughtful resident experience and security planning.