| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 5th | Poor |
| Amenities | 31st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5 Elm St, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2012 |
| Units | 48 |
| Transaction Date | 2024-02-22 |
| Transaction Price | $690,000 |
| Buyer | HERSHKOWITZ DOVID |
| Seller | GROSSBERG JOEL |
5 Elm St Spring Valley NY 48-Unit Multifamily
Neighborhood metrics point to steady occupancy and a deep renter base, according to WDSuite’s CRE market data, supporting durable cash flow assumptions at this address. Renter concentration is elevated at the neighborhood level, while occupancy has held in a stable range relative to broader metro patterns.
Located in Spring Valley’s Urban Core, the property benefits from a renter-driven location: the neighborhood s share of renter-occupied housing units is high (67.7%), indicating a larger tenant pool and potential leasing depth compared with many New York-Jersey City-White Plains, NY-NJ metro neighborhoods. Neighborhood occupancy is reported at 91.9%, which supports baseline stability for renewal and lease-up planning, based on CRE market data from WDSuite. The neighborhood carries a D rating and ranks 848 out of 889 metro neighborhoods, placing it below the metro median; underwriting should calibrate to local dynamics rather than metro-wide averages.
Amenity access shows a mixed profile. Grocery and pharmacy presence test strong at the neighborhood level (national percentiles around the 90s), which supports daily convenience and reduces friction for residents. However, cafes, restaurants, and parks are sparse (bottom national percentiles), which can temper lifestyle appeal and should be considered in marketing and retention strategies.
Home values in the neighborhood sit in a high-cost ownership market (96th percentile nationally), which can reinforce reliance on rental housing and sustain demand for multifamily units. Median contract rent benchmarks skew above national norms (around the 80th percentile), so pricing and renewals should be managed with attention to affordability pressure and lease retention risk rather than pure growth targeting.
Within a 3-mile radius, demographics indicate a larger household footprint and a growing renter pool: recent years show population and household growth with forecasts pointing to further expansion through 2028. Household sizes are elevated today and are projected to edge down slightly, which can translate into incremental rental demand and unit mix flexibility. Income measures in the 3-mile area have risen meaningfully over the past five years, supporting collections, while still requiring disciplined affordability management to maintain occupancy stability.
Safety signals are mixed and should be underwritten conservatively. Relative to 889 metro neighborhoods, this area s crime rank places it closer to the higher-crime end of the spectrum. At the same time, national percentile indicators suggest the neighborhood compares above average for both violent and property categories, indicating comparatively better outcomes versus many neighborhoods nationwide. Recent one-year changes show an uptick in estimated offense rates, so investors should monitor trend direction and consider appropriate security, lighting, and policy measures in operations.
The location draws from a diversified set of nearby corporate employers that support commuter demand and retention, including Ascena Retail Group, Prudential Financial, Becton Dickinson, PepsiCo, and Toys "R" Us.
- Ascena Retail Group retail apparel (7.1 miles) HQ
- Prudential Financial financial services (10.4 miles)
- Becton Dickinson medical technology (11.0 miles) HQ
- Pepsico food & beverage (12.8 miles)
- Toys "R" Us retail (14.5 miles) HQ
Built in 2012, this 48-unit asset offers relatively newer vintage positioning versus much of the regional stock, improving competitiveness on systems and finishes while leaving room for targeted modernization over the hold. The neighborhood s high renter-occupied share and stable occupancy support demand resilience, while a high-cost ownership landscape strengthens reliance on rental housing and can aid renewal capture. Within a 3-mile radius, population and household counts have grown and are projected to expand further, pointing to a larger tenant base that supports leasing stability, according to CRE market data from WDSuite.
Underwriting should balance this demand backdrop with affordability and operations discipline. Neighborhood rent benchmarks run above national norms, and rent-to-income signals imply elevated affordability pressure, so measured pricing, value-oriented renovations, and resident retention programs are key. Amenity density is uneven and recent safety trends warrant continued monitoring, but daily-needs access (grocery/pharmacy) and proximity to major employers underpin steady occupancy potential.
- 2012 vintage enhances competitive positioning with selective value-add potential
- High neighborhood renter concentration and steady occupancy support leasing durability
- 3-mile radius shows population and household growth, expanding the renter pool
- High-cost ownership market supports tenant reliance on rentals and renewal capture
- Risks: affordability pressure, uneven amenity density, and recent safety upticks require active management