| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Good |
| Demographics | 52nd | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4 Richardson Ct, Monticello, NY, 12701, US |
| Region / Metro | Monticello |
| Year of Construction | 1988 |
| Units | 25 |
| Transaction Date | 2018-01-23 |
| Transaction Price | $2,500,000 |
| Buyer | ANTHOS TOWNHOMES LLC |
| Seller | RICHARDSON COURT LLC |
4 Richardson Ct, Monticello NY Multifamily Investment
Neighborhood tenure skews renter-occupied, supporting a stable tenant base at attainable price points, according to WDSuite’s CRE market data. Built in 1988, the asset offers relative vintage advantages versus older local stock.
Monticello’s inner-suburb location provides everyday convenience: cafes, groceries, and pharmacies rank among the most competitive in Sullivan County (ranks of 1–2 out of 62 neighborhoods), with national percentiles generally in the upper-middle range. This amenity density can support leasing velocity and day-to-day appeal for residents.
The neighborhood’s renter-occupied share sits at 52.3%, indicating a meaningful renter concentration and a deeper tenant pool for multifamily. Median contract rents trend on the lower side locally, while the rent-to-income ratio of 0.14 suggests moderate affordability pressure — a positive for retention and collections management.
Home values in the area are relatively accessible compared with higher-cost metros, which can introduce some competition from ownership. Even so, a sizable renter base and smaller average household sizes sustain demand for apartments, particularly for value-oriented units and workforce housing segments.
On fundamentals, neighborhood occupancy is measured at the neighborhood level (not the property) and trends below national benchmarks, signaling the need for active leasing and asset management to sustain performance. However, amenity access and renter depth are constructive supports for stabilization over time, based on CRE market data from WDSuite. Demographic statistics, where referenced, are aggregated within a 3-mile radius.
Comparable neighborhood-level crime metrics were not available in WDSuite for this location. Investors typically benchmark conditions against Sullivan County and the broader region and supplement with local law enforcement data and property-level incident histories. This avoids block-level assumptions and focuses on practical, trend-oriented diligence.
This 25-unit asset, constructed in 1988, is newer than much of the surrounding housing stock and may compete well against older properties with targeted updates. The neighborhood shows a meaningful renter base and everyday amenities that support leasing, though below-average neighborhood occupancy indicates the importance of focused marketing, renewal management, and unit positioning.
According to commercial real estate analysis from WDSuite, relative affordability (including a moderate rent-to-income profile) underpins tenant retention potential, while accessible home values warrant attention to product differentiation and value-add execution. The location’s service-oriented amenities can sustain demand for well-managed, functional units.
- 1988 vintage offers competitive positioning versus older local stock; targeted CapEx can elevate rents
- Renter-occupied share supports a stable tenant base and depth of demand
- Amenity access (cafes, groceries, pharmacies) ranks competitively among 62 Sullivan County neighborhoods
- Risk: neighborhood occupancy trends below national averages — requires active leasing and retention strategy
- Risk: relatively accessible ownership options increase competition; product differentiation and operations are key