| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 5th | Poor |
| Amenities | 31st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 44 Herrick Ave, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2009 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
44 Herrick Ave Spring Valley Multifamily Investment
Neighborhood renter demand and steady occupancy support income durability, according to WDSuite’s CRE market data. Position within Rockland County offers access to jobs across the New York–North Jersey corridor with pricing power tied to a high-cost ownership market.
The property sits in Spring Valley’s Urban Core, where neighborhood-level occupancy trends are stable and near the middle of national benchmarks, supporting day-to-day leasing and renewal visibility. Renter-occupied housing comprises a large share of neighborhood units, indicating a deep tenant base for multifamily operators; these are neighborhood characteristics and not specific to this property.
Local amenity access skews practical rather than lifestyle-oriented: grocery and pharmacy density is strong relative to national norms, while cafes, parks, and restaurants are thinner in the immediate area. School ratings in the neighborhood trend below metro and national averages, which investors may factor into marketing strategy and targeted renter profiles.
Within a 3-mile radius, demographics point to ongoing demand formation: population grew roughly 13% over the last five years and is projected to add about 15% through 2028, with households rising faster than population, implying slightly smaller household sizes and a larger renter pool. Neighborhood rents track above national norms, based on commercial real estate analysis from WDSuite, which, alongside strong renter concentration, supports occupancy stability.
The asset’s 2009 construction is slightly newer than the neighborhood’s average vintage, offering relative competitiveness versus older stock. Investors should still plan for mid-life system updates or selective modernization to maintain positioning and capture value-add upside where appropriate. Elevated home values in the neighborhood signal a high-cost ownership market, which tends to reinforce reliance on rental housing and can support retention and pricing power over time.
Safety signals are mixed when viewed across geographies. Within the New York–Jersey City–White Plains metro, the neighborhood ranks closer to higher-crime cohorts (ranked 135 among 889 metro neighborhoods), suggesting it is not among the metro’s safest areas. At the national level, recent estimates place the neighborhood in stronger positions for both property and violent incident rates, indicating comparatively safer outcomes versus many U.S. neighborhoods.
Year-over-year estimates indicate recent upticks in both violent and property incidents locally. Investors may wish to monitor trend direction, engage with local management on site-level measures, and underwrite modest security and lighting upgrades where appropriate. These are neighborhood-level indicators and not a property-specific assessment.
Regional employment anchors within commuting distance support workforce housing demand and help reduce turnover through commute convenience. Nearby corporate offices include Ascena Retail Group, Prudential Financial, Becton Dickinson, PepsiCo, and Toys R Us.
- Ascena Retail Group — corporate offices (6.65 miles) — HQ
- Prudential Financial — financial services (9.79 miles)
- Becton Dickinson — medical technology (10.48 miles) — HQ
- Pepsico — consumer goods (12.98 miles)
- Toys R Us — retail (14.01 miles) — HQ
44 Herrick Ave offers exposure to a renter-heavy neighborhood with mid-cycle occupancy stability and proximity to diverse employment nodes across the Lower Hudson and North Jersey corridor. Elevated neighborhood home values point to a high-cost ownership market that tends to sustain rental demand and retention, while neighborhood rents sit above national norms, according to CRE market data from WDSuite.
Built in 2009, the property is slightly newer than the neighborhood average vintage, providing competitive positioning versus older stock and a practical platform for targeted value-add upgrades as systems approach mid-life. Within a 3-mile radius, population and household growth are projected to continue through 2028, expanding the tenant base and supporting leasing fundamentals over the hold period. Key underwriting considerations include affordability pressure management and continued monitoring of neighborhood safety trends.
- Renter-heavy neighborhood supports a deep tenant base and occupancy stability
- High-cost ownership market reinforces rental demand and pricing power
- 2009 vintage offers competitive positioning with selective value-add potential
- Growing 3-mile population and household counts expand the renter pool
- Risk: manage affordability pressures and monitor neighborhood safety trends