| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 55th | Fair |
| Amenities | 53rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 544 E Main St, Middletown, NY, 10940, US |
| Region / Metro | Middletown |
| Year of Construction | 2013 |
| Units | 78 |
| Transaction Date | 2007-04-04 |
| Transaction Price | $500,000 |
| Buyer | OAK RIDGE APTS HOUSING DEVELOPMENT FUND |
| Seller | WARWICK PROPERTIES INC |
544 E Main St Middletown, NY Multifamily Investment
Neighborhood occupancy remains exceptionally tight and supports stable leasing, according to WDSuite’s CRE market data. Newer construction and a service-rich corridor suggest durable renter demand relative to older local stock.
Situated along E Main St in Middletown (Poughkeepsie–Newburgh–Middletown metro), the property benefits from an Inner Suburb setting with an A neighborhood rating and a neighborhood rank of 25 out of 221—competitive among metro neighborhoods. Amenity access trends favorably at the neighborhood level: restaurants and cafes score in the upper national percentiles, and pharmacies and grocery options track above the national median. Parks and formal childcare centers are limited locally, which investors should factor into positioning and resident services.
Rents in the neighborhood trend above national averages while rent-to-income levels indicate manageable affordability pressure, supporting lease retention more than aggressive pricing. Median home values sit near national mid-range levels for comparable areas, which typically sustains reliance on multifamily options without eroding the renter pipeline. Neighborhood renter concentration is about one-third of housing units being renter-occupied—adequate depth for steady tenant demand without overexposure to turnover risk.
Within a 3-mile radius, demographics show population and household growth with rising incomes, and forecasts point to further expansion through 2028. This broadens the local tenant base and supports occupancy stability, particularly for well-located assets near daily-needs retail. If households continue to increase while average household size shifts, operators can calibrate unit mix and amenities to capture evolving renter preferences.
Vintage considerations matter for competitive positioning. 2013 construction is newer than the neighborhood’s average stock (late 1980s), which typically reduces near-term capital needs and can command a leasing premium versus older assets, while still warranting routine system refreshes and common-area modernization over the hold period to maintain a competitive edge.
Safety indicators are mixed in ways investors should contextualize. At the metro level, the neighborhood’s crime ranking (30th of 221) suggests higher reported crime than many local peers. Nationally, however, the area tracks above the median for overall safety, and property crime sits in a strong position (top percentiles nationwide), indicating comparatively favorable conditions for non-violent incidents.
Violent offense metrics currently read better than the national midpoint but have shown a recent uptick; this is a trend to monitor rather than a definitive directional shift. Operators can mitigate risk with lighting, access control, and resident engagement while tracking quarterly updates from WDSuite’s CRE market data for directional changes.
Regional employers within commuting range underpin renter demand, with a mix of retail, healthcare, and diversified corporate headquarters supporting steady workforce housing dynamics. The following nearby firms are most relevant to commuting patterns referenced by residents in this corridor.
- Ascena Retail Group — corporate retail (27.8 miles) — HQ
- Becton Dickinson — medical technology (30.9 miles) — HQ
- Toys "R" Us — retail (32.7 miles) — HQ
- Prudential Financial — financial services (36.0 miles)
- Airgas Lincoln Park — industrial gases (36.6 miles)
The investment thesis centers on occupancy stability, newer-vintage differentiation, and service-rich location fundamentals. Neighborhood occupancy reads as metro-leading and nationally strong, supporting steady lease-up and retention. 2013 construction is comparatively new versus the local average, lowering near-term capital exposure while enabling strategic upgrades to maintain competitive positioning. According to CRE market data from WDSuite, neighborhood rents run above national norms but remain supported by income trends, suggesting manageable affordability pressure that favors retention over outsized near-term rent lifts.
Demand is reinforced by a 3-mile radius showing expanding population and households alongside rising incomes, which broadens the renter pool. Strong access to daily-needs retail, restaurants, and pharmacies enhances livability, while limited park/childcare infrastructure and below-average school ratings may influence family-oriented leasing strategies. Safety readings are mixed—competitive nationally for property crime but with recent violent incident volatility—calling for prudent on-site controls and ongoing monitoring.
- Metro-leading neighborhood occupancy supports stable leasing and renewal performance.
- 2013 construction provides competitive positioning versus older local stock with moderated near-term CapEx.
- 3-mile population and household growth expands the tenant base, aiding absorption and retention.
- Amenity-rich corridor (grocery, pharmacy, dining) supports day-to-day convenience and leasing velocity.
- Risks: recent volatility in violent offense trends, limited parks/childcare, and pricing power moderated by balanced rent-to-income levels.