| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 40th | Poor |
| Amenities | 54th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 24 N De Baun Ave, Suffern, NY, 10901, US |
| Region / Metro | Suffern |
| Year of Construction | 2003 |
| Units | 25 |
| Transaction Date | 2025-02-19 |
| Transaction Price | $510,000 |
| Buyer | SHUBERT KATHRYN H |
| Seller | MASS ALAIN |
24 N De Baun Ave, Suffern NY Multifamily Investment
Neighborhood occupancy is strong and renter demand is supported by a high-cost ownership market, according to CRE market data from WDSuite. For a 25-unit asset, these dynamics point to stable leasing fundamentals with measured pricing power.
This Suburban Suffern location shows healthy renter fundamentals. Neighborhood occupancy is in the top quartile nationally and ranks in the top quartile among 889 metro neighborhoods, indicating steady lease-up and retention potential rather than outsized vacancy risk. The housing stock skews ownership-heavy at the neighborhood level (lower renter-occupied share), which can limit the immediate depth of the tenant pool but often supports stability for well-run communities.
Daily-needs access is a relative strength: pharmacies index in the top decile nationally, with grocery and restaurant density around the upper-middle range compared with U.S. neighborhoods. Cafes also trend above average nationally. Park and childcare access are lighter, which investors should factor into positioning and amenity programming.
Within a 3-mile radius, demographics point to a larger tenant base over time: population increased in recent years and is projected to expand further alongside a faster increase in households and a gradual shift to smaller household sizes. Median incomes are rising, and projected rent levels trend higher into the forecast window, supporting sustained rental demand and revenue management opportunities.
Home values in the neighborhood are elevated versus national norms, and the value-to-income ratio sits near the top of U.S. neighborhoods. In practice, a high-cost ownership market tends to reinforce reliance on multifamily rentals and can underpin pricing power, though lease management should remain attentive to rent-to-income signals to support retention.
Comparable safety context at the neighborhood level is limited in the current dataset. Investors should evaluate recent municipal reports and property-level history to understand trend direction and how it compares to nearby Rockland County submarkets. Use consistent underwriting assumptions across comps and prioritize trend analysis over single-year readings.
- Ascena Retail Group — corporate offices (4.2 miles) — HQ
- Becton Dickinson — corporate offices (8.5 miles) — HQ
- Prudential Financial — corporate offices (9.7 miles)
- Toys "R" Us — corporate offices (12.0 miles) — HQ
- Sealed Air — corporate offices (14.9 miles) — HQ
24 N De Baun Ave is a 25-unit asset positioned in a suburban Rockland County neighborhood where occupancy trends are strong and ownership costs are elevated relative to national norms. The 2003 vintage is newer than the neighborhood average, which can enhance competitive positioning versus older stock while still warranting planning for mid-life building systems and targeted upgrades. According to CRE market data from WDSuite, neighborhood occupancy performance sits well above many U.S. areas, reinforcing a case for stable cash flow when paired with disciplined lease management.
Local amenities favor daily convenience and healthcare access, while 3-mile demographic trends point to population growth, a faster increase in households, and a gradual shift toward smaller household sizes — all supportive of a larger renter pool over time. Elevated home values in the neighborhood context help sustain multifamily demand, though rent-to-income monitoring remains important to balance pricing power with retention.
- Strong neighborhood occupancy supports leasing stability and cash flow resilience.
- 2003 construction offers a competitive edge versus older local stock, with room for selective value-add.
- High-cost ownership market reinforces multifamily demand and pricing power potential.
- 3-mile population and household growth expand the tenant base and support occupancy over time.
- Risk: ownership-heavy neighborhood limits renter-occupied depth; proactive marketing and retention are key.