| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 5th | Poor |
| Amenities | 31st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 74 N Cole Ave, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2012 |
| Units | 26 |
| Transaction Date | 2013-07-30 |
| Transaction Price | $400,000 |
| Buyer | OHR HACHAIM TRUST |
| Seller | GOLDRING CHAIM |
74 N Cole Ave Spring Valley Multifamily Investment
Built in 2012, this 26‑unit asset benefits from a high renter concentration in the neighborhood and occupancy near the metro middle, according to WDSuite’s CRE market data.
The property sits in Spring Valley’s Urban Core, where neighborhood occupancy is 91.9% and the share of housing units that are renter‑occupied is 67.7%. For investors, that renter concentration indicates a deep tenant base and supports leasing consistency. Median contract rents in the neighborhood trend higher than many U.S. areas, while neighborhood rent-to-income signals elevated affordability pressure, making disciplined lease management important.
Local amenity access is mixed: grocery and pharmacy coverage test well versus national benchmarks, while parks, restaurants, cafes, and childcare options trail metro peers. Average school ratings reported for the neighborhood are low; investors should underwrite accordingly for family-oriented renter expectations. Neighborhood ratings within the New York–Jersey City–White Plains metro place this area in the lower tier among 889 neighborhoods, suggesting tenants may prioritize value and space over premium walkability.
Within a 3‑mile radius, WDSuite indicates population growth alongside an increase in households, expanding the potential renter pool and supporting occupancy stability. Forward‑looking data points to continued gains in population and households through 2028, which can sustain demand for rental units even as household sizes normalize modestly.
The asset’s 2012 construction is newer than the neighborhood’s average vintage (2008). That relative youth can enhance competitive positioning versus older stock, though investors should still plan for mid‑life system updates and selective modernization to strengthen retention and rent trade‑outs.
Safety indicators present a nuanced picture. Nationally, the neighborhood’s violent and property offense measures are in stronger percentiles (safer) compared with most neighborhoods across the country, yet within the New York–Jersey City–White Plains metro it ranks closer to higher‑crime areas (ranked 135 out of 889). Year‑over‑year change metrics point to recent increases, so investors should account for trend monitoring and appropriate security measures in operations.
Proximity to regional corporate offices supports a steady workforce renter base and commute convenience. Nearby employers include Ascena Retail Group, Prudential Financial, Becton Dickinson, PepsiCo, and Toys “R” Us.
- Ascena Retail Group — corporate offices (6.8 miles) — HQ
- Prudential Financial — corporate offices (9.9 miles)
- Becton Dickinson — corporate offices (10.6 miles) — HQ
- Pepsico — corporate offices (12.9 miles)
- Toys "R" Us — corporate offices (14.2 miles) — HQ
This 26‑unit property combines a high neighborhood share of renter‑occupied housing units with occupancy near the metro middle, supporting durable leasing. Elevated home values in the surrounding area reinforce reliance on multifamily, while neighborhood rent levels suggest manageable pricing power balanced against affordability pressure. The 2012 vintage is newer than nearby averages, which can reduce near‑term capital intensity versus older comparables, though mid‑life system updates and targeted renovations remain prudent. Based on CRE market data from WDSuite, demographic trends within 3 miles indicate population growth and more households ahead, expanding the tenant base and aiding retention.
Risks to underwrite include local amenity gaps relative to metro leaders, lower neighborhood ratings within the metro, and signals of affordability strain that may require proactive renewal strategies. With thoughtful capital planning and asset management, the fundamentals point to steady demand drivers rather than outsized volatility.
- High renter concentration and occupancy near metro middle support leasing stability
- Newer 2012 construction improves competitive position versus older stock
- Strong home values reinforce multifamily demand and pricing power
- 3‑mile population and household growth expand the tenant base
- Risk: affordability pressure and lower metro neighborhood ranking require careful lease and operations management