| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 41st | Poor |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 295 Broadway, Kingston, NY, 12401, US |
| Region / Metro | Kingston |
| Year of Construction | 1977 |
| Units | 100 |
| Transaction Date | 2018-07-24 |
| Transaction Price | $10,745,000 |
| Buyer | LANDMARK PRESERV HOUSING |
| Seller | GRANADA BUILDINGS INC |
295 Broadway, Kingston NY Multifamily Investment Opportunity
Neighborhood data indicates a durable renter base and steady demand drivers, according to WDSuite’s CRE market data, supporting long-term leasing stability at the property level.
This Inner Suburb neighborhood in Kingston carries an A rating and ranks 11 out of 86 metro neighborhoods, placing it in the top quartile locally. For investors, that translates into solid fundamentals and day-to-day livability that help with retention and leasing velocity.
Amenities are a relative strength: parks and cafes rank at or near the top among 86 Kingston-area neighborhoods and sit above national averages. That said, pharmacy access ranks near the bottom locally, which may modestly affect convenience for some residents. Overall amenity coverage trends favorable versus national peers, enhancing renter appeal.
Renter-occupied housing is material in this neighborhood, pointing to a deep tenant base for multifamily. Neighborhood occupancy is stable, and median contract rents have risen over the past five years, signaling pricing power consistent with resilient demand. Home values are elevated relative to incomes in national context, which can reinforce reliance on rental housing and support lease retention.
Within a 3-mile radius, the population and household counts have grown in recent years and are projected to expand further by 2028. A larger household base and smaller average household sizes over time typically broaden the renter pool, supporting occupancy and absorption for professionally managed assets.
Safety indicators are mixed when viewed across geographies. Compared with the Kingston metro, the neighborhood’s crime rank (6 out of 86) indicates higher-than-metro-average property crime activity. In national context, overall safety aligns closer to the middle of the pack.
Recent momentum is constructive: both violent and property offense rates have declined year over year, with improvement pacing among the stronger moves in the metro. For investors, the directional trend is favorable, but underwriting should still account for neighborhood-specific security measures and resident reassurance.
Regional employers within commuting reach help anchor demand for workforce and market-rate rentals. Nearby industry presence includes industrial gases and advanced manufacturing.
- Praxair — industrial gases (44.0 miles) — HQ
Built in 1977, the asset is newer than much of the surrounding housing stock, offering competitive positioning versus older neighborhood inventory while leaving room for targeted modernization to strengthen rents and reduce ongoing maintenance risk. The area’s renter concentration, amenity access, and steady neighborhood occupancy point to a durable tenant base and manageable lease-up risk. According to CRE market data from WDSuite, neighborhood-level rents have trended upward, and ownership costs remain comparatively high, both of which support sustained multifamily demand.
Demographic indicators aggregated within a 3-mile radius show recent growth in households and projections for further expansion by 2028, implying a larger renter pool and support for occupancy stability. Investors should balance these positives with operational planning around safety perceptions and convenience gaps like limited pharmacy access.
- 1977 vintage is newer than nearby stock, with scope for value through focused modernization.
- Material renter-occupied share and steady neighborhood occupancy support leasing stability.
- Upward neighborhood rent trends and relatively high ownership costs reinforce multifamily demand.
- Risks: higher-than-metro-average property crime and limited pharmacy access warrant mitigation in operations.