| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 5th | Poor |
| Amenities | 31st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3 Westside Ave, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2008 |
| Units | 24 |
| Transaction Date | 2006-08-29 |
| Transaction Price | $399,000 |
| Buyer | GROSSMAN SHAINDY |
| Seller | ULSTER ESTATES LLC |
3 Westside Ave Spring Valley NY Multifamily Investment
Neighborhood-level occupancy sits in a stable range and a high renter concentration supports depth of demand, according to WDSuite s CRE market data. Elevated ownership costs locally tend to sustain renter reliance, which can underpin leasing durability through cycles.
Spring Valley s Urban Core setting offers everyday convenience more than lifestyle retail: grocery and pharmacy access rank strong nationally, while restaurants, cafes, and parks are comparatively limited. For investors, this mix points to steady, necessity-driven traffic and tenant stickiness rather than discretionary amenity appeal.
Occupancy in the neighborhood is measured at 91.9%, which is modestly above the national middle tier (54th percentile), suggesting baseline stability for lease-up and retention. The share of housing units that are renter-occupied is high at the neighborhood level (96th percentile nationally), indicating a deep tenant base and consistent multifamily demand, though it can also heighten sensitivity to rent changes.
Home values in the area are elevated relative to incomes (value-to-income ratio near the top of national ranges), which typically reinforces reliance on rental housing and supports pricing power for well-positioned assets. At the same time, higher rent-to-income ratios in the neighborhood signal potential affordability pressure, so disciplined renewal management and unit-level value positioning remain important.
The average construction year across the neighborhood clusters around 2008, placing the local stock newer than much of the country. This property s 2008 vintage should compete well versus older assets while still benefitting from targeted modernization to keep systems current and interiors market-relevant.
Within a 3-mile radius, demographics show population and households expanding over recent years, with projections indicating further growth and a slight reduction in average household size. For multifamily investors, this points to a larger tenant base and more renters entering the market, supporting occupancy stability over the medium term.
Neighborhood safety indicators are mixed but generally competitive in the metro context. Crime ranks in a stronger band among New York Jersey City White Plains neighborhoods (135 out of 889, indicating comparatively lower crime locally), while the national positioning trends around the middle overall.
By offense type, the neighborhood scores in the upper national percentiles for lower property crime and lower violent crime (roughly top decile for property offenses and well above average for violent offenses), which is favorable for renter peace of mind. Recent-year change metrics, however, point to an uptick versus the prior year, so investors should monitor trend direction and align security measures and lighting/visibility improvements with operating plans.
Nearby corporate offices provide a broad white-collar employment base that supports renter demand and commute convenience for residents, including Ascena Retail Group, Prudential Financial, Becton Dickinson, PepsiCo, and Toys 22R 22 Us.
- Ascena Retail Group corporate offices (6.5 miles) HQ
- Prudential Financial corporate offices (9.6 miles)
- Becton Dickinson corporate offices (10.3 miles) HQ
- Pepsico corporate offices (13.0 miles)
- Toys "R" Us corporate offices (13.8 miles) HQ
This 24-unit asset at 3 Westside Ave benefits from a renter-heavy neighborhood, steady occupancy readings, and a high-cost ownership landscape that tends to sustain rental demand. According to CRE market data from WDSuite, the area s elevated home values relative to income and a renter-occupied share near the top of national ranges support a durable tenant base, while recent demographic expansion within a 3-mile radius suggests ongoing renter pool growth.
Built in 2008, the property should compete well against older local stock and can capture incremental value through targeted modernization and energy/system updates typical of mid-life assets. While affordability pressure and uneven amenity depth warrant careful pricing and renewal strategies, the combination of necessity retail access, broad regional employment nodes, and projected household growth supports long-term leasing fundamentals.
- Renter-heavy neighborhood supports depth of demand and occupancy stability.
- High-cost ownership market reinforces reliance on multifamily housing and pricing power for well-positioned units.
- 2008 vintage offers competitive positioning with potential value-add via modernization and system upgrades.
- Regional employers within commuting range underpin leasing durability.
- Risks: affordability pressure, softer discretionary amenities, and the need to monitor safety trend direction.