| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 5th | Poor |
| Amenities | 31st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7 Elm St, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2012 |
| Units | 24 |
| Transaction Date | 2023-11-09 |
| Transaction Price | $725,000 |
| Buyer | TELLER CHAIM |
| Seller | WACHSMAN SHULIM Y |
7 Elm St Spring Valley Multifamily — 2012 Vintage, Renter Demand
Positioned in a high-cost ownership pocket of Rockland County, this 24-unit 2012 build benefits from a deep renter base and neighborhood occupancy in the low-90s, according to WDSuite’s CRE market data. Stability is supported by a renter-occupied housing mix and proximity to major employment nodes.
Located in Spring Valley within the New York–Jersey City–White Plains metro, the property sits in a neighborhood where renter-occupied housing accounts for a substantial share of units (about two-thirds). For investors, that renter concentration suggests a deeper tenant pool and supports leasing durability relative to more owner-heavy areas.
The ownership market shows elevated home values relative to national benchmarks, reinforcing reliance on multifamily housing and aiding pricing power. At the same time, rent-to-income indicators point to some affordability pressure, which calls for thoughtful lease management and renewal strategies to maintain retention.
Everyday convenience is anchored by essentials rather than lifestyle amenities. Grocery and pharmacy access test in the top quartile nationally, while cafes, restaurants, and parks are comparatively sparse. This mix typically aligns with workforce demand profiles where proximity to necessities matters more than discretionary amenities.
Property vintage is an operational advantage: built in 2012 against a neighborhood average around the late 2000s, the asset should compete well versus older stock in the submarket. Newer building systems can help moderate near-term capital needs, though investors should still underwrite for standard mid-cycle updates over the hold period.
Within a 3-mile radius, demographics indicate recent population and household growth with further expansion projected, supporting a larger tenant base over time. Median household incomes have trended upward in the area, and WDSuite’s commercial real estate analysis suggests this trajectory, combined with a rising renter share, supports occupancy stability even as rent levels advance.
Safety indicators present a mixed but generally favorable picture in broader context. Neighborhood-level crime benchmarks sit around metro medians, while violent and property offense measures compare strongly on a national basis, landing in higher safety percentiles versus neighborhoods nationwide. Recent year-over-year movements have been volatile, so investors should monitor trends over the next few data releases rather than relying on a single print.
For underwriting, this implies competitive positioning when marketing to region-wide renters, with prudent allowances for security, lighting, and resident engagement to sustain performance consistent with national top-quartile readings.
The area’s employment base blends retail headquarters, financial services, medical technology, food & beverage, and legacy retail operations—supporting workforce housing demand and commute convenience for renters likely to favor Spring Valley.
- Ascena Retail Group — retail apparel HQ (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
7 Elm St offers investors a 2012-vintage, 24-unit asset in a renter-heavy neighborhood with occupancy in the low-90s. Elevated home values in the area bolster reliance on rental housing, while essentials-oriented amenities (notably strong grocery and pharmacy access) align with workforce renter needs. Based on CRE market data from WDSuite, the neighborhood’s renter concentration and expanding 3-mile household base point to durable demand, with affordability pressures best managed through disciplined renewals and amenity-light operational efficiency.
Relative to older local stock, the property’s vintage supports competitive positioning and may temper near-term capital expenditures; still, investors should plan for targeted modernization to sustain rents and retention. Safety benchmarks trend stronger nationally than metro comparisons, suggesting solid regional appeal with standard risk controls.
- Renter-heavy neighborhood and low-90s occupancy support demand depth
- 2012 construction competes well versus older local inventory
- High-cost ownership market reinforces reliance on multifamily housing
- Essentials access (grocery, pharmacy) aligns with workforce renter profiles
- Risks: rent-to-income pressure, limited lifestyle amenities, mixed metro crime comparisons