| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 5th | Poor |
| Amenities | 31st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 26 Ellish Pkwy, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2009 |
| Units | 32 |
| Transaction Date | 2013-08-12 |
| Transaction Price | $525,000 |
| Buyer | SILBERSTEIN RACHEL |
| Seller | SF VINCENT LLC |
26 Ellish Pkwy Spring Valley Multifamily with Stable Renter Base
Neighborhood fundamentals point to durable renter demand and steady occupancy, according to WDSuite’s CRE market data, supported by a high-cost ownership backdrop that favors leasing over buying.
Located in Spring Valley’s Urban Core, the property benefits from a renter-leaning neighborhood profile and proximity to daily-needs retail. Grocery and pharmacy access compare favorably at the national level, while sit-down dining, cafes, parks, and childcare are comparatively limited nearby. School ratings track below national norms, which investors should factor into family-oriented leasing strategies.
Neighborhood occupancy is about 91.9% and sits below the metro median among 889 New York–Jersey City–White Plains neighborhoods, suggesting room for operational differentiation at the asset level. At the same time, the neighborhood’s renter-occupied share is elevated (67.7%), indicating a deep tenant base that can support leasing velocity and renewal capture.
Within a 3-mile radius, population and households have expanded in recent years, and projections indicate a further increase in households—implying a larger renter pool over the medium term. Median household incomes are rising, and asking rents are projected to grow, according to WDSuite’s commercial real estate analysis; together these trends support potential pricing power, but operators should calibrate renewals thoughtfully.
Home values in the neighborhood are elevated relative to national benchmarks, reinforcing reliance on multifamily rentals for households that prefer lease flexibility or face high ownership costs. This backdrop can support demand depth and lease retention, though competitive positioning will depend on unit mix, finish level, and management quality.
Safety indicators show mixed signals. The neighborhood’s crime rank is 135 out of 889 metro neighborhoods, which is above the metro average for crime exposure. However, when viewed nationally, current estimates for both violent and property offense rates compare favorably (stronger percentiles), placing the area in a safer tier versus many U.S. neighborhoods.
Year-over-year trends indicate recent increases in estimated offense rates, so investors should monitor trajectory and incorporate standard safety and lighting upgrades into capital plans where appropriate. Framing risk comparatively—metro rank vs. national percentile—helps set expectations for tenant retention and marketing.
Nearby corporate nodes provide a diversified employment base that supports renter demand and commute convenience, led by retail, financial services, healthcare devices, food and beverage, and consumer brands.
- Ascena Retail Group — retail apparel (6.7 miles) — HQ
- Prudential Financial — financial services (10.1 miles)
- Becton Dickinson — medical technology (10.6 miles) — HQ
- PepsiCo — food & beverage (13.1 miles)
- Toys "R" Us — consumer products (14.2 miles) — HQ
This Spring Valley asset is positioned in a renter-centric pocket where neighborhood occupancy sits in the low-90s and the renter-occupied share is high, supporting leasing stability. Elevated for-sale home values point to a high-cost ownership market that tends to reinforce multifamily demand and lease retention. Within a 3-mile radius, recent population and household growth—and projections for additional household gains—signal a larger renter pool over the next cycle, based on CRE market data from WDSuite.
Investors should underwrite to rising incomes and rent growth potential while actively managing affordability pressure, as rent-to-income is elevated at the neighborhood level. Operational focus on unit quality, service, and renewal strategies can help capture demand in a submarket that is below the metro median on occupancy but benefits from strong renter concentration and proximity to employment nodes.
- High renter concentration supports depth of tenant demand and renewal potential
- Elevated ownership costs in the neighborhood bolster reliance on rentals
- 3-mile radius shows population and household growth, with forecasts indicating further renter pool expansion
- Risk: below-metro-median occupancy and rising safety rates warrant conservative lease-up and retention planning