| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 5th | Poor |
| Amenities | 31st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 56 Herrick Ave, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2008 |
| Units | 24 |
| Transaction Date | 2007-04-13 |
| Transaction Price | $355,000 |
| Buyer | 306 HOLDINGS LLC |
| Seller | CURLAND LAWRENCE A |
56 Herrick Ave Spring Valley Multifamily Opportunity
Neighborhood metrics point to steady renter demand and occupancy stability, according to WDSuite’s CRE market data, with a high share of renter-occupied units supporting leasing depth. Relative to national trends, elevated ownership costs in Rockland County tend to sustain reliance on multifamily housing.
Spring Valley sits within the New York–Jersey City–White Plains metro and reflects an Urban Core profile. Neighborhood occupancy is reported at 91.9%, and a high renter-occupied share (measured for the neighborhood, not the property) suggests depth in the tenant base and potential for ongoing leasing velocity, based on CRE market data from WDSuite.
Local amenity access is mixed: neighborhood data show strong grocery and pharmacy coverage compared with national norms, while cafés, restaurants, and parks are more limited within the immediate neighborhood. For investors, this balance can still support daily convenience while suggesting residents may travel slightly farther for dining and recreation.
Home values in the neighborhood score in a high national percentile, indicating a high‑cost ownership market that often reinforces renter demand and supports occupancy stability. At the same time, neighborhood rent-to-income readings indicate affordability pressure, which makes active lease management and renewal strategies important for retention.
Within a 3‑mile radius, demographics indicate population growth alongside an increase in households and families, pointing to a larger tenant base over time. Forecasts through the next five years continue to show gains in both population and household counts, which can support multifamily demand and absorption, per WDSuite’s commercial real estate analysis.
School ratings in neighborhood metrics are comparatively low versus national benchmarks; investors should underwrite to tenant profiles that prioritize proximity to employment and essential services over school positioning. Overall, the neighborhood ranks 848 out of 889 metro neighborhoods, while specific housing indicators (including strong renter concentration and solid occupancy) compare more favorably than the overall composite rating might imply.
Based on WDSuite’s neighborhood indicators, this area is competitive among New York–Jersey City–White Plains neighborhoods for overall crime levels, effectively in the top quartile among 889 metro neighborhoods. Nationally benchmarked measures indicate comparatively safer positioning at present; however, recent year changes show upticks that investors should monitor as part of ongoing risk assessment.
For underwriting, this translates to a generally favorable comparative safety profile today with attention to trend direction. Owners may consider standard security measures and resident engagement to help sustain stability and retention.
Nearby corporate anchors provide a diversified employment base that supports renter demand and commute convenience, including Ascena Retail Group, Prudential Financial, Becton Dickinson, PepsiCo, and Toys "R" Us. Proximity to these employers can aid leasing and retention for workforce-oriented multifamily.
- Ascena Retail Group — corporate offices (6.7 miles) — HQ
- Prudential Financial — corporate offices (9.9 miles)
- Becton Dickinson — corporate offices (10.5 miles) — HQ
- Pepsico — corporate offices (13.0 miles)
- Toys "R" Us — corporate offices (14.1 miles) — HQ
56 Herrick Ave is a 24‑unit multifamily asset in Spring Valley, positioned in a neighborhood with solid renter-occupied share and reported occupancy near the low‑to‑mid 90s. Elevated ownership costs in the immediate area, coupled with proximity to multiple employment nodes, support rental demand and help underpin leasing stability. According to CRE market data from WDSuite, neighborhood housing indicators compare better than the overall neighborhood composite rating suggests, aligning with a workforce‑oriented renter base.
Within a 3‑mile radius, recent population and household growth — with further gains forecast — point to renter pool expansion that can support absorption and renewal performance. Investors should balance these positives against affordability pressure indicated by neighborhood rent‑to‑income ratios and plan for active lease management. Amenity access favors daily needs (groceries, pharmacies) over lifestyle offerings (parks, dining), which may shape tenant mix and marketing.
- High renter-occupied share and solid neighborhood occupancy support leasing stability.
- Elevated home values in the neighborhood sustain reliance on multifamily housing.
- 3‑mile population and household growth indicate a larger tenant base ahead.
- Proximity to diversified employers supports retention and reduces commute friction.
- Risks: affordability pressure (rent‑to‑income), limited parks/dining locally, and recent safety trend upticks warrant monitoring.