| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 90th | Best |
| Demographics | 2nd | Poor |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 29 Stern St, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2005 |
| Units | 87 |
| Transaction Date | 2018-05-23 |
| Transaction Price | $520,000 |
| Buyer | UNGAR SHIMON |
| Seller | FRIEDMAN CHAIM |
29 Stern St Spring Valley Multifamily Investment Opportunity
Neighborhood renter demand is supported by high occupied housing and limited ownership accessibility, according to WDSuite’s CRE market data. Expect stable leasing dynamics relative to the metro, with pricing power tempered by local affordability pressure.
The property sits in Spring Valley’s Urban Core, where occupied housing is strong and the neighborhood’s occupancy trend ranks in the top quartile nationally among similar areas. Within the New York–Jersey City–White Plains metro (889 neighborhoods tracked), this sub-area performs above the metro median for occupancy, a constructive signal for multifamily stability and renewal velocity.
Renter-occupied housing concentration in the neighborhood is among the highest nationally, indicating a deep tenant base that supports consistent absorption and renewal prospects. At the same time, WDSuite data show elevated rent-to-income ratios in the neighborhood, so operators should prioritize lease management and retention strategies to mitigate turnover risk.
Amenities are mixed: cafes, groceries, and pharmacies test well versus national availability, while parks, restaurants, and childcare options are thinner locally. For investors, that combination can still underpin day-to-day convenience for residents, though family-oriented amenities may require positioning and service strategies to support retention.
Demographics aggregated within a 3-mile radius point to population growth over the last five years with additional household expansion projected by 2028, supporting a larger renter pool. Median and mean household incomes have risen materially alongside projected gains, which helps demand durability, while elevated home values in the immediate area reinforce reliance on multifamily housing rather than ownership.
Comparable neighborhood crime rankings are not available in the current WDSuite release for this area. Investors typically contextualize safety by reviewing regional benchmarks and municipal reporting alongside property-level security features and management practices to evaluate potential leasing risk and retention impacts.
Proximity to established corporate employers supports a broad commuter tenant base and can aid retention through commute convenience. Notable nearby employers include Ascena Retail Group, Prudential Financial, PepsiCo, Becton Dickinson, and Toys "R" Us.
- Ascena Retail Group — corporate offices (8.6 miles) — HQ
- Prudential Financial — financial services (11.9 miles)
- Pepsico — consumer beverages (12.1 miles)
- Becton Dickinson — medical technology (12.7 miles) — HQ
- Toys "R" Us — corporate offices (16.2 miles) — HQ
Built in 2005, this 87-unit asset offers mid-2000s construction that can be competitive versus older local stock while still warranting capital planning for system updates and selective modernization. Strong neighborhood occupancy — above the metro median and in the top quartile nationally — points to steady leasing and renewal prospects. Elevated home values nearby sustain rental demand, while demographics aggregated within a 3-mile radius indicate population and household growth that should expand the tenant base.
At the same time, WDSuite indicates elevated rent-to-income ratios in the neighborhood, suggesting the need for disciplined lease management and resident service strategies. According to commercial real estate analysis from WDSuite, amenity access skews toward daily needs (groceries, pharmacies, cafes) rather than parks or childcare, which may influence positioning for family households.
- High neighborhood occupancy supports leasing stability and renewal potential
- Mid-2000s vintage offers competitive baseline with value-add/modernization upside
- Elevated ownership costs reinforce reliance on rental housing and depth of tenant pool
- 3-mile demographics show population and household growth, expanding renter demand
- Risk: higher rent-to-income ratios and thinner parks/childcare amenities require careful retention strategy