| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 40th | Poor |
| Amenities | 54th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 32 N De Baun Ave, Suffern, NY, 10901, US |
| Region / Metro | Suffern |
| Year of Construction | 2003 |
| Units | 24 |
| Transaction Date | 2024-02-05 |
| Transaction Price | $475,000 |
| Buyer | ABISH TRUST |
| Seller | ZELENKA TRUST |
32 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 WDSuite’s CRE market data. Built in 2003, the property is competitively positioned versus older local stock while allowing for targeted modernization over time.
Suffern’s neighborhood fundamentals are balanced for workforce and professional renters. Neighborhood occupancy is in the top quartile nationally and ranks 141 out of 889 metro neighborhoods, indicating generally stable lease-up and retention conditions relative to the region. Median contract rents trend above many suburban peers, yet rent-to-income levels suggest manageable affordability pressure that can support renewals.
Local livability is mixed but functional for daily needs. Amenity access sits mid-pack metro-wide, with strong pharmacy coverage and a reasonable mix of groceries and restaurants, while parks and formal childcare options are limited. These dynamics favor convenience-driven renters but may modestly narrow the target household segment.
The building’s 2003 vintage is newer than the neighborhood average year built (1993). This positioning can help against older comparables for curb appeal and systems reliability, though investors should still plan for selective modernization as the asset approaches two decades in service.
Tenure patterns show a lower neighborhood share of renter-occupied housing units, which can mean a thinner immediate renter base but often with higher household incomes and longer stays. Within a 3-mile radius, population and household counts have grown in recent years and are projected to continue expanding through 2028, pointing to a larger tenant base and supporting occupancy stability. Elevated home values relative to incomes in the neighborhood reinforce reliance on rental housing, which can aid pricing power and lease retention.
Comparable neighborhood-level safety metrics are not available in this dataset for this location. Investors typically benchmark safety using multiple sources and time horizons; consider layering local law enforcement reports and insurer data with WDSuite’s broader market context for a consistent regional comparison.
Nearby corporate nodes provide a diversified employment base that supports renter demand and commute convenience, led by Ascena Retail Group, Becton Dickinson, Prudential Financial, Toys "R" Us, and Sealed Air.
- Ascena Retail Group — retail apparel (4.1 miles) — HQ
- Becton Dickinson — medical technology (8.4 miles) — HQ
- Prudential Financial — financial services (9.8 miles)
- Toys "R" Us — retail (11.9 miles) — HQ
- Sealed Air — packaging manufacturing (15.0 miles) — HQ
This 24-unit asset at 32 N De Baun Ave benefits from stable neighborhood occupancy and a high-cost ownership landscape that sustains multifamily demand. According to CRE market data from WDSuite, the neighborhood’s occupancy performance is in the top quartile nationally and above the metro median, supporting steady leasing and renewal dynamics. The area’s pharmacy, grocery, and dining access are strengths, while limited parks and childcare suggest careful targeting of renter segments.
Constructed in 2003, the property is newer than much of the surrounding housing stock, offering competitive positioning versus older assets and the potential to capture demand with selective updates. Within a 3-mile radius, population and households are projected to expand through 2028, indicating renter pool growth that can help sustain occupancy and rent trends over the hold period. Key considerations include the neighborhood’s lower share of renter-occupied units and the need for ongoing capital planning as the asset ages.
- Occupancy stability: neighborhood ranks 141 out of 889, indicating resilient leasing conditions
- Newer vintage (2003) than local average, with room for targeted modernization
- High-cost ownership market reinforces renter reliance, aiding pricing power and retention
- 3-mile radius projections indicate population and household growth, supporting a larger tenant base
- Risks: lower neighborhood renter-occupied share and limited parks/childcare may narrow target segments