| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 5th | Poor |
| Amenities | 31st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 74 Herrick Ave, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2008 |
| Units | 22 |
| Transaction Date | 2010-03-15 |
| Transaction Price | $400,000 |
| Buyer | ROTH ISSAC |
| Seller | MECHALOWITZ SARAH |
74 Herrick Ave Spring Valley Multifamily Investment
Neighborhood data points to steady renter demand supported by an above-average renter concentration and elevated ownership costs, according to WDSuite’s CRE market data. Investors should view this address as a workforce-oriented play where pricing power is balanced by local affordability pressures.
Spring Valley’s Urban Core setting is characterized by strong day-to-day convenience over destination retail: grocery and pharmacy access are strengths, while food-and-beverage density is limited. Within the New York–Jersey City–White Plains metro, the neighborhood’s amenity profile sits below the metro median, but essential retail coverage helps sustain daily-living appeal for renters.
Neighborhood occupancy is measured at 91.9% (neighborhood statistic), with a high share of renter-occupied housing units (67.7%). For multifamily owners, this depth of renter households supports leasing velocity and renewals, though effective rent growth should be managed with attention to tenant retention and lease management.
Home values in the neighborhood are elevated relative to national norms, which typically reinforces reliance on multifamily housing and can support stabilized demand through cycles. Median contract rents sit above national medians, yet rent-to-income ratios indicate affordability pressure, suggesting disciplined renewals and measured increases are prudent to sustain occupancy.
Demographics aggregated within a 3-mile radius indicate population growth over the last five years alongside an increase in households and families. Forecasts point to continued renter pool expansion by 2028, with household counts projected to grow and median household incomes trending higher. Larger average household sizes in the 3-mile area suggest that unit mix and space efficiency can influence leasing performance.
Safety indicators are mixed but generally competitive for the metro. Based on neighborhood ranks within the New York–Jersey City–White Plains metro (135 out of 889), the area performs above the metro median. Nationally, violent offense rates benchmark in a higher safety tier (top quintile), while property offenses read comparatively favorable as well. For investors, this points to tenant retention support versus weaker submarkets.
Recent year-over-year changes show volatility in reported offense rates, so underwriting should incorporate prudent assumptions and ongoing monitoring. The takeaway: conditions are not outliers on the downside for the region, but trends merit standard risk controls such as security measures and resident engagement programming.
The nearby employment base features corporate offices across consumer, healthcare, financial services, and food & beverage, supporting commuter convenience and a broad renter pipeline. The list below highlights notable employers within typical commuting distance.
- Ascena Retail Group — apparel retail HQ (6.7 miles) — HQ
- Prudential Financial — financial services (10.0 miles)
- Becton Dickinson — medical technology (10.6 miles) — HQ
- PepsiCo — food & beverage (13.0 miles)
- Toys "R" Us — retail (14.1 miles) — HQ
This 22-unit asset sits in a renter-heavy neighborhood where occupancy trends and elevated ownership costs underpin durable demand. Within the submarket context, a high share of renter-occupied housing units and neighborhood occupancy in the low-90s support baseline stability, while the local rent-to-income backdrop signals the need for disciplined lease management rather than aggressive increases. According to commercial real estate analysis from WDSuite, these dynamics place emphasis on asset operations—renewals, concessions policy, and resident experience—to sustain cash flow.
Three-mile demographics add a constructive medium-term backdrop: population and household counts have grown and are forecast to expand further by 2028, accompanied by rising incomes. Elevated for-sale home values versus national norms reinforce reliance on rental housing, which can underpin occupancy through cycles. Offsetting factors include thinner sit-down dining/cafe density and mixed school ratings, plus recent safety volatility that warrants routine monitoring and standard property-level controls.
- Renter-heavy neighborhood and low-90s neighborhood occupancy support leasing stability
- Elevated ownership costs locally reinforce reliance on multifamily housing
- 3-mile population and household growth, with incomes trending higher, expand the tenant base
- Operational upside via targeted renewals, resident experience, and concessions discipline
- Risks: affordability pressure (rent-to-income), limited F&B density, and safety volatility require active management