| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 5th | Poor |
| Amenities | 31st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8 Elm St, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2011 |
| Units | 24 |
| Transaction Date | 2021-06-17 |
| Transaction Price | $507,000 |
| Buyer | BLUM YISROEL Z |
| Seller | GINSBERG ELIYAHU A |
8 Elm St Spring Valley 24-Unit Multifamily Investment
Neighborhood occupancy sits around the national median while renter-occupied housing is elevated, pointing to a deep local tenant base, according to WDSuite s CRE market data. This balance supports steady leasing with pricing set against a high-cost ownership market in Spring Valley.
Located in Spring Valley within the New York Jersey City White Plains metro, the property benefits from neighborhood dynamics that generally support workforce and family renters. Neighborhood occupancy trends are near the national midpoint (mid-50s percentile), suggesting stable leasing conditions rather than speculative lease-up risk. Renter concentration is high (share of housing units that are renter-occupied), indicating a broad tenant base and potential depth for renewals.
Daily needs are well-covered by grocers and pharmacies, which rank in the upper national percentiles, while cafes, restaurants, and parks register relatively sparse coverage. For investors, this mix typically supports consistent necessity-driven foot traffic even if lifestyle amenity density is thinner; it may also favor properties that offer on-site conveniences or partner with nearby services.
Within a 3-mile radius, population and households have expanded in recent years, and projections call for further growth by 2028. The radius shows an increase in households and families, with a modest trend toward slightly smaller average household sizes over time, which can enlarge the renter pool and support occupancy stability. Median and mean household incomes in the 3-mile radius have risen meaningfully, reinforcing purchasing power for rents while still requiring disciplined lease management.
Home values in the neighborhood are elevated versus national norms, which typically sustains reliance on multifamily rentals and can aid retention. The average neighborhood construction year is 2008; at 8 Elm St, a 2011 vintage positions the asset as relatively newer stock versus local averages, supporting competitive positioning against older properties, though standard modernization and building systems planning should still be considered over the hold period.
Safety indicators are mixed but comparatively favorable on serious offenses. On a national basis, violent offenses benchmark in the higher percentiles for safety (top quartile nationally), and property offenses also register in strong national percentiles, indicating relatively safer positioning versus many neighborhoods nationwide. Overall crime sits closer to the national middle, so conditions should be evaluated at the submarket and corridor level.
Year-over-year changes in reported offense rates have recently moved higher, so investors may wish to monitor trendlines and property-level security protocols as part of asset management. Comparative analysis should focus on neighborhood trajectories rather than block-level conclusions.
Proximity to regional corporate offices provides a diverse employment base that can support renter demand and retention, particularly among commuters. Key nearby employers include Ascena Retail Group, Prudential Financial, Becton Dickinson, PepsiCo, and Toys 22R 22 Us.
- Ascena Retail Group corporate offices (7.0 miles) HQ
- Prudential Financial corporate offices (10.4 miles)
- Becton Dickinson corporate offices (11.0 miles) HQ
- Pepsico corporate offices (12.9 miles)
- Toys "R" Us corporate offices (14.5 miles) HQ
8 Elm St offers investors exposure to a renter-heavy neighborhood with occupancy around the national median and a high-cost ownership landscape that helps sustain multifamily demand. Based on CRE market data from WDSuite, the surrounding 3-mile radius shows growth in population and households with further gains projected through 2028, supporting a larger tenant base and steady leasing. The 2011 vintage is newer than the neighborhood s average construction year, providing relative competitiveness against older stock while warranting routine modernization planning.
Amenity coverage favors grocers and pharmacies over parks, cafes, and restaurants, suggesting consistent necessity-driven demand but fewer lifestyle draws; this can be mitigated by property-level features or partnerships. Elevated rent-to-income dynamics in the neighborhood point to prudent underwriting needs potential pricing power must be balanced against retention risks and careful lease management.
- Renter-heavy neighborhood supports depth of tenant base and renewal potential.
- 2011 construction is competitively newer than local averages, aiding positioning versus older assets.
- 3-mile radius shows population and household growth, bolstering long-run demand.
- High ownership costs locally can reinforce multifamily reliance and leasing stability.
- Risks: thinner lifestyle amenities and elevated rent-to-income ratios require disciplined pricing and retention strategy.