| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 58th | Fair |
| Amenities | 19th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3140 State Route 209, Kingston, NY, 12401, US |
| Region / Metro | Kingston |
| Year of Construction | 1980 |
| Units | 46 |
| Transaction Date | 2003-11-05 |
| Transaction Price | $227,500 |
| Buyer | WOODLAND COUNTRY APT LLC |
| Seller | WOODLAND COMMONS LLC |
3140 State Route 209, Kingston NY Multifamily Investment
Positioned in a suburban pocket with mid-pack neighborhood fundamentals, the asset benefits from elevated for-sale home values that help sustain renter demand, according to WDSuite’s CRE market data. Investor focus centers on capturing steady occupancy while planning targeted upgrades to enhance competitiveness.
The property sits in a Suburban neighborhood rated B- and ranked 46 out of 86 within the Kingston, NY metro, placing it around the middle of the pack among local peers. Amenity access is mixed: the area is competitive among Kingston neighborhoods for overall amenities (rank 31 of 86) yet remains amenity-light by national standards, with limited cafes, restaurants, and pharmacies nearby. Groceries and park access are more balanced within the local context, supporting day-to-day convenience for residents.
Renter demand is supported by a relatively high-cost ownership landscape (neighborhood home values sit in the upper tier nationally), which can reinforce reliance on multifamily housing and help with retention and pricing power. Neighborhood rents trend above national norms, signaling capacity for quality units to compete effectively without having to lead the market on concessions.
Within a 3-mile radius, demographics show a smaller renter-occupied share of housing units today, implying a thinner—but present—tenant base. Projections through 2028 call for population growth, a notable increase in households, and slightly smaller average household sizes, which together point to a larger renter pool and support for occupancy stability over time. Median household incomes in the radius have risen meaningfully, aligning with rent growth prospects and providing room for operators to manage affordability pressure through thoughtful lease management rather than aggressive increases.
Vintage also matters for competitive positioning. The building’s 1980 construction is newer than the neighborhood’s average vintage, which can reduce immediate capital needs versus older stock; however, investors should still anticipate targeted modernization (systems, common areas, finishes) to optimize leasing velocity and retention in an amenity-light setting.
Comparable neighborhood crime rankings are not reported for this area in WDSuite at this time. Investors often benchmark safety by reviewing city and county trend data and inspecting recent patterns around major corridors rather than relying on block-level readings. A prudent approach is to evaluate multi-year trends and compare them to Kingston and Ulster County averages during diligence.
3140 State Route 209 offers scale at 46 units in a suburban Kingston location where elevated ownership costs help sustain multifamily demand. Based on CRE market data from WDSuite, neighborhood rents sit above national norms while the area remains amenity-light, suggesting an opportunity for well-executed renovations to differentiate on livability rather than competing purely on price.
The 1980 vintage is newer than the local average, positioning the property competitively against older stock while leaving room for targeted upgrades to drive leasing and retention. Forward-looking demographics within a 3-mile radius indicate population growth and a sizable increase in households with slightly smaller household sizes, which together point to a larger tenant base and support for occupancy stability. Key risks include a thinner renter concentration locally and car-dependent convenience, both manageable with value-add enhancements and disciplined operations.
- Elevated for-sale home values locally reinforce renter reliance and support pricing power
- 1980 construction offers competitive positioning versus older stock with clear value-add paths
- 3-mile projections show population growth and more households, expanding the renter pool
- Amenity-light setting creates opportunity to differentiate via renovations and resident services
- Risk: thinner renter-occupied share and auto-reliance require disciplined leasing and asset management