| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 5th | Poor |
| Amenities | 31st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 54 Herrick Ave, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2008 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
54 Herrick Ave Spring Valley Multifamily Investment
Neighborhood renter concentration and a high-cost ownership market point to durable leasing demand, according to WDSuite s CRE market data. Expect steady occupancy supported by workforce households seeking proximity to jobs across Rockland and Northern New Jersey.
The property s 2008 construction aligns with the neighborhood s newer housing stock (average construction year 2008), positioning it competitively versus older assets and potentially moderating near-term capital expenditures while leaving room for targeted modernization to drive rents.
At the neighborhood level, occupancy is 91.9%, indicating generally stable renter demand. The share of housing units that are renter-occupied is 67.7%, signaling a deep tenant base for multifamily and supporting leasing velocity and retention in typical cycles, based on CRE market data from WDSuite.
Local amenities are mixed. Grocery and pharmacy access score strong compared with neighborhoods nationwide, while cafes, restaurants, and parks are relatively limited within the immediate area. For investors, that mix tends to favor necessity retail convenience but may require emphasizing on-site amenities and unit finishes to enhance appeal.
Within a 3-mile radius, demographic statistics show population and household growth over recent years, with additional increases expected. Household counts are rising alongside a renter share above 50%, expanding the local renter pool and supporting occupancy stability. Elevated home values in the neighborhood and a high value-to-income ratio indicate a high-cost ownership market that can sustain reliance on rental housing, reinforcing pricing power where units are well-positioned on quality and affordability.
Safety indicators are mixed when viewed against both metro peers and national benchmarks. The neighborhood s crime rank sits in the stronger portion of the New York Jersey City White Plains metro (top quartile among 889 neighborhoods), while national composites are closer to the middle of the pack. Violent-offense measures benchmark favorably at the national level, and property-offense measures also compare well, though recent year-over-year changes suggest some volatility that investors should monitor.
As always, investors should rely on trend lines rather than single-year readings, incorporate property-level measures, and evaluate daytime population and site security practices as part of underwriting and operations planning.
Proximity to corporate offices across Rockland and nearby Northern New Jersey supports commuter convenience and underpins renter demand, with a mix of headquarters and major employers across retail, healthcare, financial services, and consumer goods.
- Ascena Retail Group corporate offices (6.7 miles) HQ
- Prudential Financial financial services (9.9 miles)
- Becton Dickinson healthcare & medical devices (10.5 miles) HQ
- Pepsico consumer goods (13.0 miles)
- Toys "R" Us corporate offices (14.1 miles) HQ
Built in 2008, this 24-unit asset benefits from relatively modern systems versus older area stock, which can temper near-term capital needs while allowing selective upgrades to capture demand. Neighborhood occupancy of 91.9% and a renter-occupied share of 67.7% point to a sizable tenant base and generally steady leasing. Elevated home values and a high value-to-income ratio characterize a high-cost ownership market, which tends to sustain rental demand and support rent durability for well-positioned units.
Within a 3-mile radius, recent increases in population and households, alongside a majority-renter tenure mix, indicate a growing renter pool that supports occupancy stability and renewal retention. According to CRE market data from WDSuite, necessity retail access is strong locally, while limited lifestyle amenities mean in-unit quality and on-site features can be important differentiators.
- 2008 vintage reduces immediate capex pressure while enabling targeted value-add to lift rents
- Neighborhood occupancy around 92% and high renter concentration support leasing stability
- High-cost ownership market reinforces reliance on rentals, bolstering pricing power for competitive units
- 3-mile radius shows growth in households and population, expanding the tenant base
- Risks: amenity gaps in cafes/parks, mixed safety trend signals, and elevated rent-to-income ratios require thoughtful lease management