| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 40th | Poor |
| Amenities | 54th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 28 N De Baun Ave, Suffern, NY, 10901, US |
| Region / Metro | Suffern |
| Year of Construction | 2003 |
| Units | 25 |
| Transaction Date | 2024-07-16 |
| Transaction Price | $465,000 |
| Buyer | KIRSHNER SUSAN E |
| Seller | GABRIEL ROSE |
28 N De Baun Ave Suffern Multifamily Investment
Neighborhood occupancy is high and relatively steady, indicating durable leasing fundamentals in this Rockland County pocket, according to WDSuite’s CRE market data. This positioning supports income stability for a 25-unit asset in a suburban location with strong for-sale housing prices.
Suffern’s suburban setting delivers a practical mix of daily conveniences with competitive occupancy dynamics for investors. The neighborhood’s occupancy rate of 97.7% (neighborhood metric, not property-level) sits in the upper tier locally and well above many areas nationally, supporting leasing stability and renewals based on CRE market data from WDSuite. Median contract rents in the neighborhood trend on the higher side nationally, while rent-to-income levels are comparatively manageable, suggesting room for disciplined pricing without overextending tenants.
Amenity access is balanced: restaurants (78th percentile nationally) and pharmacies (93rd percentile) are strengths, while parks and formal childcare options are thinner within neighborhood bounds. Cafe density ranks favorably as well (81st percentile), which helps with day-to-day livability that supports retention. These patterns point to service-oriented convenience even if dedicated recreation space is limited in immediate proximity.
The asset’s 2003 vintage is newer than the neighborhood’s average construction year of 1993, offering a relative competitive edge versus older stock. Investors should still plan for mid-life system updates and targeted common-area or in-unit modernization to preserve positioning against newer deliveries across the broader New York–Jersey City–White Plains metro.
Within a 3-mile radius, population and household counts have increased in recent years and are projected to continue growing, indicating a larger tenant base over time. The renter-occupied share is roughly 30% within 3 miles, which is a moderate renter concentration that supports multifamily demand while reflecting some competition from ownership. Elevated neighborhood home values (around the 90th percentile nationally) and a high value-to-income ratio reinforce reliance on rental housing, which can aid lease retention and pricing power through cycles.
Comparable neighborhood safety data were not available in this release. Investors typically benchmark conditions against village, town, and county sources and consider multi-year trends rather than single-year snapshots. Proximity to stable employment and higher-income households in Rockland County can be consistent with steady property operations, but on-the-ground diligence remains essential.
Prudent underwriting should incorporate standard measures such as insurance assumptions, lighting and access controls, and resident engagement, alongside city and county crime trend reviews to contextualize risks at the neighborhood level.
Nearby corporate offices provide a diversified white-collar employment base that supports renter demand and commute convenience, including Ascena Retail Group, Becton Dickinson, Prudential Financial, Toys "R" Us, and Sealed Air.
- Ascena Retail Group - corporate offices (4.2 miles) - HQ
- Becton Dickinson - medical technology (8.5 miles) - HQ
- Prudential Financial - financial services (9.8 miles)
- Toys "R" Us - retail offices (12.0 miles) - HQ
- Sealed Air - packaging solutions (15.0 miles) - HQ
28 N De Baun Ave offers exposure to a suburban Rockland County location where neighborhood occupancy is strong and the for-sale market is high-cost, a combination that can support rental demand and lease retention. Built in 2003, the property is newer than much of the surrounding housing stock, providing relative competitiveness while approaching the phase where selective capital projects can enhance positioning. According to CRE market data from WDSuite, neighborhood rents and home values skew high nationally, while rent-to-income levels are comparatively manageable, supporting disciplined rent growth and occupancy stability.
Within a 3-mile radius, steady population gains and a projected increase in households point to a larger renter pool over time. The renter-occupied share near 30% suggests a moderate depth of tenants alongside ownership options; elevated home values reinforce ongoing reliance on rental housing. Amenity coverage is service-oriented (restaurants, pharmacies) even as parks and childcare are thinner locally, which is relevant for positioning and resident profile.
- Strong neighborhood occupancy supports income stability and renewals
- 2003 vintage offers relative competitiveness with targeted value-add potential
- High-cost ownership market underpins renter reliance and pricing power
- Growing 3-mile households expand the tenant base over time
- Risks: moderate renter concentration and limited parks/childcare require tailored leasing strategy