| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 90th | Best |
| Demographics | 2nd | Poor |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 62 Truman Ave, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2013 |
| Units | 32 |
| Transaction Date | 2015-06-26 |
| Transaction Price | $305,000 |
| Buyer | FRIEDMAN JACOB |
| Seller | TRUMAN AVENUE TOWNHOUSES LLC |
62 Truman Ave, Spring Valley NY Multifamily Investment
Neighborhood fundamentals point to durable renter demand and high occupancy, according to WDSuite’s CRE market data. The property’s newer construction positions it competitively versus nearby stock while the surrounding area’s ownership costs support lease stability.
The immediate neighborhood shows strong renter dynamics, with a high share of renter-occupied housing supporting depth of the tenant base. Neighborhood multifamily occupancy is reported at 98.3%, well above national norms based on CRE market data from WDSuite; this figure reflects neighborhood conditions, not the property itself, and signals leasing stability for comparable assets.
Construction year average in the neighborhood skews relatively recent (2006), and this asset’s 2013 vintage is newer than local norms. Investors can position 2013 stock as competitive versus older inventory, while planning for mid-life systems maintenance and selective upgrades to support retention and rent trade-outs.
Amenity access is mixed: everyday retail and pharmacies index well relative to national peers, and cafés are comparatively dense, while parks, restaurants, and formal childcare options register limited within the neighborhood footprint. This blend suggests convenience for daily needs but fewer recreational and childcare amenities immediately nearby, which can influence target renter profiles and marketing.
Home values in the neighborhood are elevated relative to national benchmarks, reinforcing reliance on multifamily housing and supporting tenant retention. At the same time, neighborhood-level rent-to-income ratios are high, which warrants careful lease management and renewal strategies. Within a 3-mile radius, demographics indicate population growth over the past five years with further growth projected, rising median household incomes, and a balanced tenure mix (about 42% renter-occupied). These trends expand the prospective renter pool and support occupancy, though rent setting should account for affordability pressure at the neighborhood level.
Comparable crime metrics for this specific neighborhood were not available in WDSuite at the time of analysis. Investors typically benchmark neighborhood safety trends against metro and county contexts and incorporate on-the-ground diligence to understand conditions around the property and along primary commute corridors.
The area draws from a diversified regional employment base, supporting renter demand through commute access to nearby corporate offices in retail, consumer goods, healthcare, and financial services.
- Ascena Retail Group — retail apparel (8.8 miles) — HQ
- Pepsico — food & beverage (11.6 miles)
- Prudential Financial — financial services (11.7 miles)
- Becton Dickinson — medical technology (12.7 miles) — HQ
- Ibm — technology & services (16.0 miles) — HQ
62 Truman Ave is a 32-unit, 2013-vintage multifamily asset positioned in a neighborhood with high renter concentration and strong occupancy signals. The newer vintage offers competitive positioning versus the area’s 2006 average, with mid-life capital planning to sustain performance. Elevated ownership costs in the vicinity reinforce multifamily demand, while 3-mile demographics show population and income growth that expand the tenant base and support occupancy stability. According to CRE market data from WDSuite, neighborhood occupancy levels trend above national benchmarks, aligning with a thesis centered on steady tenancy rather than outsized rent growth.
Key considerations include managing affordability pressure noted at the neighborhood level, and calibrating marketing toward renters valuing convenience retail over proximity to parks or childcare. With disciplined operations and targeted upgrades, the asset can compete effectively for a broad workforce and family renter pool drawn by regional employment centers.
- Newer 2013 vintage relative to local stock supports competitive positioning with manageable mid-life CapEx planning.
- High neighborhood multifamily occupancy supports leasing stability; this reflects neighborhood conditions, not the property’s own occupancy.
- Elevated for-sale housing costs in the area reinforce renter reliance on multifamily housing and aid retention.
- 3-mile population and income growth expand the tenant base and support steady demand over the medium term.
- Risks: neighborhood-level affordability pressure and limited nearby parks/childcare suggest careful rent setting and targeted marketing.