| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 54th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 58 S Manheim Blvd, New Paltz, NY, 12561, US |
| Region / Metro | New Paltz |
| Year of Construction | 2010 |
| Units | 86 |
| Transaction Date | 2000-11-09 |
| Transaction Price | $130,000 |
| Buyer | LOPEZ JOSEPH A |
| Seller | BROWN GEORGE PAUL |
58 S Manheim Blvd, New Paltz Multifamily Investment
Neighborhood data points to steady renter demand and improving occupancy at the neighborhood level, according to WDSuite’s CRE market data, supporting a durable income profile for an 86-unit asset. Metrics cited reflect neighborhood conditions, not the property s own operations.
Located in New Paltz within the Kingston, NY metro, the neighborhood scores well for day-to-day convenience and services. Amenity access is competitive among 86 metro neighborhoods (top-tier rank), with particularly strong proximity to grocery, parks, childcare, and pharmacies. Average school ratings around 3 out of 5 place the area above the metro median, which can aid family retention and leasing stability.
The housing stock in the neighborhood skews older (average vintage mid-1950s), while the subject property s 2010 construction is newer than typical. For investors, newer vintage can enhance competitive positioning versus older buildings and may moderate near-term capital expenditure needs, while still warranting targeted upgrades for modernization and revenue management.
Renter-occupied housing is a majority at the neighborhood level, indicating a deep tenant base for multifamily. Neighborhood occupancy has trended upward in recent years and sits in the high-80s, which supports leasing stability for well-managed assets.
Within a 3-mile radius, WDSuite data shows modest population growth over the last five years and a larger increase in households, alongside gradually smaller household sizes. Forward projections point to continued household growth and a rising renter share, implying a broader tenant pool and potential reinforcement for occupancy and renewal rates. Elevated ownership costs in the area (home values above many U.S. neighborhoods and a high value-to-income ratio) tend to sustain reliance on rental housing, while a rent-to-income ratio near the high-20s suggests watchpoints for affordability and lease management.
Neighborhood-level crime metrics are not available in WDSuite for this area, so investors typically benchmark safety perceptions against broader Kingston metro patterns and similar inner-suburb college-town submarkets. As always, underwriting should incorporate local management insights and insurer guidance rather than block-level assumptions.
Regional employers help broaden the commuter tenant base even if most roles are outside immediate walking distance. Notable nearby employment accessible by highway is summarized below.
- Praxair 4 industrial gases (37.4 miles) 4 HQ
2010 construction and 86 units position this asset competitively versus an older neighborhood stock (average 1950s), supporting relative appeal with fewer near-term system replacements than many legacy properties. Renter-occupied share is high at the neighborhood level, and neighborhood occupancy has improved into the high-80s, indicating a durable tenant base. According to CRE market data from WDSuite, home values and the value-to-income ratio are elevated locally, which tends to sustain reliance on multifamily rentals and can support pricing power when coupled with prudent lease management.
Within a 3-mile radius, recent population growth, a larger increase in households, and projected expansion of the renter pool point to ongoing demand for apartments. A sizable young-adult cohort supports leasing velocity for well-located units near services and transit corridors, while investors should plan for potential seasonality and affordability sensitivity when setting renewal strategies.
- Newer 2010 vintage vs. older neighborhood stock enhances competitive positioning and may reduce immediate capex
- Neighborhood renter concentration and improving occupancy support income stability
- Elevated home values reinforce reliance on rentals, aiding retention and pricing power with careful management
- 3-mile household and renter pool expansion underpins demand and lease-up prospects
- Risks: affordability sensitivity and potential seasonality; active asset management and renewal tactics recommended