| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 5th | Poor |
| Amenities | 31st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 42 Herrick Ave, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2008 |
| Units | 22 |
| Transaction Date | 2024-11-30 |
| Transaction Price | $975,000 |
| Buyer | LEIFER YISSACHAR |
| Seller | RUBIN JOSEPH |
42 Herrick Ave, Spring Valley NY Multifamily Investment
Neighborhood renter concentration and steady occupancy point to a dependable tenant base, according to WDSuite’s CRE market data. Investors screening Rockland County will find demand supported by a high-cost ownership landscape and proximity to diverse employment nodes.
Spring Valley’s Urban Core setting offers daily conveniences more than destination amenities. Grocery and pharmacy access test well against national benchmarks, while restaurants, cafes, and parks are comparatively limited—an operating context that tends to favor pragmatic, workforce-oriented demand over lifestyle-driven premiums, based on commercial real estate analysis from WDSuite.
At the neighborhood level, occupancy is in the national midrange and the share of housing units that are renter-occupied is elevated. For investors, a higher renter concentration signals deeper leasing demand and supports occupancy stability for smaller assets like this 22-unit property. Median contract rents in the immediate area sit in the low $1,600s, indicating attainable pricing relative to Westchester/North Jersey suburban nodes while still supporting income growth management.
Within a 3-mile radius, population and households have expanded in recent years, with forecasts pointing to further increases and a modest reduction in average household size. A growing household count and a slight shift toward more, smaller households typically expands the renter pool, supporting leasing velocity and renewal prospects.
Home values in the neighborhood are elevated by national standards. A high-cost ownership market generally sustains reliance on rental housing, which can aid tenant retention and pricing power; investors should balance this with rent-to-income considerations to manage renewal risk.
Safety indicators are mixed. Neighborhood-level crime sits roughly around national norms overall, yet within the New York–Jersey City–White Plains metro the area ranks 135th out of 889 neighborhoods, signaling comparatively higher incident levels than many metro peers. At the same time, property and violent offense rates benchmark favorably versus national percentiles, though recent year-over-year changes indicate some upward movement that warrants monitoring in underwriting and asset management.
Nearby corporate offices across retail, finance, medical devices, consumer goods, and packaging provide a diversified employment base that supports renter demand and commuting convenience for residents.
- Ascena Retail Group — retail HQ offices (6.6 miles) — HQ
- Prudential Financial — finance (9.8 miles)
- Becton Dickinson — medical devices (10.5 miles) — HQ
- PepsiCo — consumer goods (13.0 miles)
- Sealed Air — packaging (15.5 miles) — HQ
42 Herrick Ave is positioned in a renter-heavy Urban Core pocket where neighborhood occupancy trends are around the national midrange and the share of renter-occupied housing is high. This profile, coupled with elevated for-sale home values, underpins depth of tenant demand and supports income stability for a 22-unit asset. Within a 3-mile radius, ongoing population and household growth point to a larger tenant base over the next planning period, reinforcing lease-up and renewal prospects.
Median neighborhood rents near the low $1,600s and forecast rent growth suggest room for disciplined revenue management, according to CRE market data from WDSuite. Investors should also account for higher rent-to-income ratios in underwriting and renewal strategies to balance pricing power with retention.
- Renter-heavy neighborhood supports stable leasing and renewal depth
- Elevated home values reinforce sustained reliance on rental housing
- 3-mile radius shows population and household growth, expanding the tenant base
- Rent levels near the low $1,600s offer room for disciplined revenue management
- Risk: higher rent-to-income ratios and mixed safety trends require active lease and expense management