| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 41st | Poor |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 162 Wilbur Ave, Kingston, NY, 12401, US |
| Region / Metro | Kingston |
| Year of Construction | 1988 |
| Units | 120 |
| Transaction Date | 2000-03-16 |
| Transaction Price | $72,500 |
| Buyer | BUDNY LINDA A |
| Seller | SCOTT ELIZABETH |
162 Wilbur Ave, Kingston NY Multifamily Investment
Stabilized renter demand and solid neighborhood amenities point to durable leasing fundamentals, according to WDSuite’s CRE market data. The area’s renter-occupied share supports depth of tenant base while ownership costs help sustain multifamily reliance.
Rated A and positioned as an Inner Suburb, the neighborhood ranks 11th among 86 metro neighborhoods—top quartile locally—signaling competitive livability for renters and steady appeal for workforce housing. Parks and cafes are a clear strength (both ranking near the top in the metro), while restaurants are plentiful and grocery access is serviceable; pharmacy options are comparatively limited and may influence resident convenience.
Neighborhood occupancy trends sit around the metro middle and have eased slightly over five years, but renter-occupied housing remains elevated relative to peers. This higher renter concentration indicates a broader tenant pool and supports leasing stability, especially for midscale assets targeting consistent absorption.
Within a 3-mile radius, households have increased while average household size has edged down, expanding the number of households relative to population and broadening the potential renter pool. Looking forward, WDSuite’s commercial real estate analysis points to additional household growth through 2028, which should underpin demand for rental units even as demographics evolve.
Ownership remains a higher-cost path relative to local incomes (value-to-income is elevated versus national norms), which tends to sustain rental demand and support retention. At the same time, rent-to-income ratios sit on the lower side nationally, suggesting manageable affordability pressure that can aid lease renewal and reduce turnover volatility for professionally managed properties.
The neighborhood’s average building stock skews much older than 1988. That vintage positions this 120-unit asset as newer than much of the surrounding inventory, offering relative competitiveness versus older properties while still warranting targeted updates for systems nearing mid-life to maintain positioning and capture value-add upside.
School ratings in the immediate area are weaker by national comparison. For family renters, this may modestly temper demand; however, for workforce and lifestyle renters prioritizing parks, cafes, and commute convenience, the amenity mix remains a supportive driver of occupancy.
Safety indicators are mixed. The neighborhood’s crime rank sits closer to the higher-crime end within Kingston (rank 6 of 86 metro neighborhoods), while its national standing is near the middle of U.S. neighborhoods. For investors, this suggests closer attention to on-site security design, lighting, and property management practices to support resident satisfaction and leasing.
Recent trend data shows improvement: both violent and property offense rates have declined year over year, with the pace of violent offense reduction performing strongly versus national peers. Continued monitoring of local trends and active management can help reinforce this positive direction.
Regional employment is diversified, with commuting access to industrial and corporate roles that can support renter demand and retention. Nearby industrial gases operations are a notable draw among commuters.
- Praxair — industrial gases (43.9 miles) — HQ
This 1988-vintage, 120-unit property competes well against an older neighborhood baseline, offering a practical balance of scale and operational efficiency with clear value-add pathways via modernization. Elevated renter-occupied share in the area supports depth of tenant demand, and ownership costs relative to incomes tend to reinforce reliance on multifamily housing—favorable for occupancy stability and pricing power over time.
Households within a 3-mile radius have expanded and are projected to grow further, broadening the tenant base. Neighborhood occupancy is competitive among Kingston submarkets and, according to CRE market data from WDSuite, sits alongside improving safety trends. Primary risks include softer K–12 ratings, limited pharmacy access, and the need to plan for mid-life system upgrades typical for late-1980s construction.
- Competitive 1988 vintage versus older local stock, with value-add and systems upgrades to enhance positioning
- Elevated renter concentration supports a larger tenant pool and steadier absorption
- Household growth within 3 miles expands demand and supports occupancy stability
- Ownership costs relative to incomes sustain rental reliance and aid retention management
- Risks: softer school ratings, mixed safety relative to metro, and limited pharmacy access requiring resident-experience focus