| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 64th | Good |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 45 N Chestnut St, New Paltz, NY, 12561, US |
| Region / Metro | New Paltz |
| Year of Construction | 1983 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
45 N Chestnut St New Paltz Multifamily Opportunity
Stabilized renter demand in an Inner Suburb location supports consistent occupancy, according to WDSuite’s CRE market data. This asset benefits from a balanced renter base and elevated ownership costs that tend to sustain leasing velocity.
Located in New Paltz within the Kingston, NY metro, the neighborhood scores an A+ and ranks 2 out of 86 metro neighborhoods, signaling strong fundamentals for multifamily. Occupancy in the neighborhood is around the mid‑90s and has improved over the last five years, a positive backdrop for revenue stability based on CRE market data from WDSuite.
Renter-occupied housing accounts for roughly half of local units (neighborhood renter concentration is just over 50%), indicating a deep tenant base and steady leasing activity. Within a 3-mile radius, population has grown in recent years and households have increased, expanding the near-term renter pool; projections point to further population and household gains through the next five years, which supports occupancy stability and absorption potential.
Amenity access is competitive among Kingston neighborhoods: restaurants rank 4th of 86, parks rank 10th of 86, and grocery access ranks 17th of 86. Cafe and pharmacy options are thinner locally, so residents may rely on nearby corridors for certain daily needs. These trade-offs are typical for Inner Suburb locations and generally compatible with workforce-oriented multifamily.
Home values in the neighborhood are elevated versus income (high value-to-income ratio; top decile nationally), which tends to reinforce reliance on rental housing. Neighborhood median contract rents sit in the low‑$1,300s and have risen over the past five years, while the rent-to-income profile indicates manageable affordability pressure in aggregate — factors that can aid retention and measured pricing power for well-managed assets.
The average neighborhood construction vintage skews earlier (around 1970), so a 1983 property can compete well against older stock while investors should still plan for targeted system upgrades or modernization to maintain positioning.
Neighborhood-level crime metrics are not available in the current WDSuite dataset for this location. Investors commonly benchmark safety perceptions using broader Kingston, NY metro trends and property-level security measures rather than drawing block-level conclusions. Monitoring local law enforcement updates and insurer guidance can help contextualize risk over time.
Regional employment in the Hudson Valley supports commuter demand. Notable nearby presence includes Praxair, which contributes to a diversified industrial base relevant to renter stability.
- Praxair — industrial gases HQ (38.1 miles) — HQ
Built in 1983 with 24 units, 45 N Chestnut St offers a relatively newer vintage versus the neighborhood’s earlier housing stock, supporting competitive positioning with potential for selective renovations rather than full-scale repositioning. The surrounding neighborhood shows mid‑90s occupancy, a renter concentration around half of units, and rising household counts within a 3‑mile radius — dynamics that can help sustain tenant demand and leasing stability, according to CRE market data from WDSuite.
Elevated home values relative to income in the neighborhood point to a high-cost ownership market that tends to sustain rental demand, while amenity access is strong for restaurants, parks, and groceries. Key watch items include thinner cafe/pharmacy options and potential turnover associated with a younger renter mix in the 3‑mile area; disciplined lease management and ongoing light capex should mitigate these risks.
- Occupancy stability in the neighborhood and steady household growth support durable tenant demand
- 1983 vintage competes well versus older local stock with manageable modernization scope
- Elevated ownership costs in the area reinforce reliance on rentals and lease retention
- Amenity strengths in restaurants, parks, and groceries aid renter appeal
- Risks: thinner cafe/pharmacy options and potential turnover from younger renter mix