| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 67th | Best |
| Amenities | 6th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 224 Sullivan St, Wurtsboro, NY, 12790, US |
| Region / Metro | Wurtsboro |
| Year of Construction | 2006 |
| Units | 50 |
| Transaction Date | 2006-03-21 |
| Transaction Price | $75,000 |
| Buyer | HORIZONS AT WURTSBORO LLC |
| Seller | VILLAGE OF WURTSBORO |
224 Sullivan St, Wurtsboro NY — 2006 Multifamily, 50 Units
Newer 2006 construction in a rural submarket offers a competitive physical plant versus older local stock; neighborhood renter depth and occupancy trends warrant underwriting discipline, according to WDSuite’s CRE market data.
Wurtsboro is a Rural neighborhood with an overall neighborhood rating of A (ranked 10 out of 62 metro neighborhoods), placing it in the top quartile among metro peers. Amenity access is limited locally (amenities rank 42 of 62 and 6th percentile nationally), so residents typically rely on regional corridors for groceries, services, and leisure. Restaurant presence is modest (around the 39th percentile nationally), reflecting the lower-density setting.
For investors evaluating rents and vacancies, note that occupancy is measured at the neighborhood level, not the property. The neighborhood s occupancy rate ranks 25 of 62, which is above the metro median but sits in a low national percentile, signaling that lease-up and retention strategies should emphasize value, convenience, and service. The share of housing units that are renter-occupied is 17.7% (ranked 19 of 62; mid-range nationally), suggesting a thinner but identifiable tenant base for multifamily.
Income levels trend above the national median (household income ranks 20 of 62; 62nd percentile nationally), which can support rent collections. At the same time, elevated ownership costs relative to incomes (94th percentile nationally on value-to-income) indicate a higher-cost ownership market, which can reinforce reliance on rental housing and support baseline demand for well-managed multifamily assets. These dynamics, based on CRE market data from WDSuite, frame a leasing story that prioritizes affordability positioning and resident retention.
Vintage context matters: the neighborhood skews older on average (typical construction year around 1952), so a 2006 asset is newer than much of the surrounding stock. This can be a competitive advantage for operations and curb appeal while still requiring mid-life capital planning for systems and common areas.
Safety conditions are best evaluated comparatively. WDSuite does not report a metro crime rank or national percentile for this neighborhood in the latest dataset, so investors should review recent incident trends and consult local law enforcement summaries to benchmark the neighborhood against Sullivan County and New York State patterns. Avoid relying on block-level anecdotes; use multi-year, area-wide trends to contextualize risk and insurance assumptions.
Regional employment is anchored by several headquarters within commuting distance. These employers broaden the potential renter base for residents willing to commute to office and operations roles, supporting demand stability for workforce-oriented units.
- Ascena Retail Group — corporate offices (38.7 miles) — HQ
- Becton Dickinson — medical technology corporate offices (41.7 miles) — HQ
- Toys "R" Us — retail corporate offices (43.2 miles) — HQ
Built in 2006 with 50 units, the property stands newer than much of the area s mid-century housing stock. That relative vintage can translate to operational advantages and competitive positioning versus older assets, while mid-life systems and common areas may still require targeted capital to sustain performance. Neighborhood occupancy is measured for the neighborhood, not the property, and trends above the metro median yet remain low nationally, so leasing plans should emphasize value, service delivery, and renewal management.
Household incomes sit above national medians, and home values are elevated relative to incomes, which often sustains renter reliance on multifamily. However, a modest renter-occupied share indicates a thinner local tenant pool, and rent-to-income readings point to affordability pressure that warrants careful lease management. These dynamics, according to commercial real estate analysis from WDSuite, favor disciplined underwriting focused on demand capture and retention.
- 2006 vintage offers competitive positioning versus older neighborhood stock, with manageable mid-life capex planning.
- Above-metro neighborhood occupancy supports baseline leasing potential when paired with value-forward operations.
- Elevated ownership costs relative to incomes can reinforce renter reliance, aiding retention and pricing discipline.
- Risk: Low national standing for occupancy, modest renter-occupied share, and limited local amenities may slow lease-up and require sharper marketing and concessions management.